Dana(NYSE) DAN

Dana makes parts that move power from engines to wheels in many types of vehicles. The company helps car and truck makers build more efficient and reliable transportation. These products are used in everything from family SUVs to heavy construction machinery.

What Dana Makes

• Light Vehicle Drive Systems: Axles, driveshafts, and transmissions for passenger cars and light trucks; accounted for 70% of net sales in 2025.
• Commercial Vehicle Drive and Motion Systems: Parts for medium and heavy trucks, including electric vehicle motors and controllers; contributed 30% of net sales in 2025.
• Electrification and Digital Solutions: Software and electronic parts like inverters that manage power in hybrid and electric vehicles.
• Sealing and Thermal Products: Gaskets and cooling systems that protect batteries and engines from overheating.

New Moves and Changing Gears

• Agreed to sell the Off-Highway business to Allison Transmission Holdings, Inc. in June 2025 to focus on on-highway markets.
• Integrated the Power Technologies segment into the Light and Commercial units in early 2025 to simplify operations.
• Announced cost-cutting plans in late 2024 to save $325 million annually by the end of 2026.
• Approved a plan in 2025 to return up to $1 billion to shareholders through stock buybacks or special dividends.

Where the Company Stands Out

Dana operates in 24 countries, allowing it to serve almost every major vehicle manufacturer across North America, Europe, and Asia. The company maintains its competitive edge by developing technology for both traditional fuel engines and the growing electric vehicle market.

The Recent Numbers

• Free cash flow rose to $345 million in Q4 2025, up 131.5% from the previous year.
• Operating cash flow reached $406 million in Q4 2025, a 34.4% increase year-over-year.
• Net income dropped to a loss of $168 million in Q4 2025, down 110% compared to Q4 2024.
• The company spent $224 million on engineering and research in 2025 to develop new vehicle technologies.

The Big Picture

Dana is transforming from a traditional parts maker into a specialist in electric and hybrid vehicle technology. By selling its off-highway unit and cutting costs, the company is focusing entirely on the changing global car and truck markets.