Dana Incorporated: Fundamentals Have Improved A Lot

Dana Incorporated remains a buy as margin expansion, balance sheet repair, and diversified growth drivers are now evident in results. Post-off-highway divestiture, DAN's net leverage is expected to stay below 1x through 2026, supporting financial flexibility. Margin improvement is visible, with FY2025 adj. EBITDA margin at 8.1% and Q4 2024 reaching 11.1%, driven by cost initiatives.