Dana Incorporated (DAN) Stock Price & How to Invest

Dana Incorporated makes the parts that put power on the road: axles, driveshafts, differentials, electrified propulsion units, and the sealing and thermal-management products that go around them. Founded in 1904 and based in Maumee, Ohio, it sells mostly to vehicle manufacturers rather than to consumers, and its content sits under pickups, SUVs, medium- and heavy-duty trucks, and an aftermarket channel that keeps older vehicles running. As of mid-2026 the company reports in two segments. Light Vehicle did ~$1.38 billion of sales in the second quarter and Commercial Vehicle did ~$631 million, so roughly two-thirds of the revenue now rides on the light-truck and SUV cycle and about a third on commercial trucks. The Off-Highway unit that used to sit alongside them, the construction, agriculture and mining driveline business, was sold to Allison Transmission for ~$2.7 billion and closed on January 2, 2026.

That sale is the whole reason the investment picture changed. Long-term debt fell to ~$1.32 billion from ~$2.57 billion at the end of 2025, net interest expense dropped sharply, and management committed roughly $1 billion of shareholder returns through 2027, of which ~$169 million of buybacks had been executed by mid-year with another ~$200 million planned before December. At the same time an internal cost program worth ~$325 million cumulatively is landing: second-quarter adjusted EBITDA margin reached ~10.3% against ~7.6% a year earlier, even with ~$40 million of stranded costs left behind by the divestiture. Then, on June 10, 2026, Eaton agreed to separate its Mobility Group and combine it with Dana in a Reverse Morris Trust valued at more than $10 billion, with Eaton shareholders expected to hold at least 50.1% of the result and Dana holders about 49.9%. The combined company is to keep the Dana Incorporated name and the DAN listing, with closing targeted for the first quarter of 2027. So the stock is two things at once: a deleveraged cyclical supplier trading at a mid-single-digit multiple of EBITDA, and a claim on roughly half of a much larger business that does not exist yet.

Dana sells to a handful of large vehicle manufacturers, so a production cut at one customer flows straight into revenue with very little to cushion it. Tariffs on imported vehicles and components, currency, and steel and aluminum pricing all move a business that recovers costs on a lag through contractual pass-throughs. The commercial-vehicle side is exposed to a North American Class 8 cycle that has been weak, and the light-vehicle side to pickup and SUV demand that has held up but is not immune. The Eaton transaction adds a second layer: it needs regulatory clearance and the spin conditions to be satisfied, the ~$325 million cost program and the ~$40 million of stranded costs have to be finished while an integration starts, and holders end up owning roughly half of the combined company rather than all of the current one. If the deal breaks, the standalone case reverts to a two-segment supplier in a flat truck market, which is a narrower story than the one now priced in.

7 analysts publish price targets on DAN, averaging $37.14 against a $29.70 price as of August 2026, or +25.1%. The published targets run from $28.00 to $43.00, a moderate spread, and the ratings split 5 buy, 3 hold, 0 sell. Over the last six months there have been 5 raises and 7 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full DAN forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Dana Incorporated. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. The Off-Highway sale reset the balance sheet. Allison paid ~$2.7 billion in cash, about 7.5 times the unit's expected 2025 adjusted EBITDA, and the deal closed January 2, 2026. The most optimistic published target, $43.00, assumes this works close to its best case.

The case against. Dana sells to a handful of large vehicle manufacturers, so a production cut at one customer flows straight into revenue with very little to cushion it. The most pessimistic target, $28.00, is roughly what DAN is worth if this bites instead.

Read the full bull and bear case on DAN, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Dana Incorporated's investor relations page or your broker.

• Revenue (TTM): ~$7.66B
• Market cap: ~$3.2B
• Q2 2026 adjusted EBITDA margin: ~10.3% (vs ~7.6%)
• FY2026 guidance (sales / adj. EBITDA): ~$7.65B-$7.85B / ~$800M-$850M
• FY2026 adj. EPS / adj. free cash flow: ~$1.75-$2.25 / ~$275M-$375M
• Long-term debt: ~$1.32B (from ~$2.57B)

Second-quarter sales of ~$2.01 billion came in above consensus and adjusted EBITDA of ~$207 million lifted the margin ~270 basis points year over year, which is what pushed management to raise the full-year outlook by roughly $225 million of sales. At ~$29.70 a share the stock is near ~15x the midpoint of guided adjusted EPS, while the guided free cash flow midpoint of ~$325 million is close to a tenth of the ~$3.2 billion market cap, so the equity and earnings multiples tell different stories. Enterprise value against ~$800 million to ~$850 million of guided adjusted EBITDA works out to roughly five times, low by broad-market standards and normal for a cyclical supplier at a point in the cycle nobody is sure about.

Other names that sit close to DAN: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get DAN exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so DAN sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where DAN fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Dana is a smaller, far less indebted supplier with real margin momentum, and the size of the position an owner ends up with depends on a deal that has not closed yet.

Whether DAN is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is DAN a buy or a sell?, and where the stock could go from here in the DAN stock forecast.

For income investors, whether DAN pays a dividend and how the payout looks is covered in does DAN pay a dividend? And to weigh DAN against a peer, read the full side-by-side comparisons: DAN vs ALSN and DAN vs CMI.