Dana Incorporated
DAN Consumer Cyclical Auto Parts
In the quarter to June 2026, revenue grew 3.88%, EPS fell 126.3%, free cash flow fell 540.0% and total debt fell 48.1%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
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Dana Incorporated (DAN) Altman Z-score
Dana Incorporated's Altman Z-score for fiscal 2025 is 1.42, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.42 | 0.07 |
| FY2024 | 1.35 | (0.04) |
| FY2023 | 1.39 | (0.50) |
| FY2022 | 1.89 | (0.14) |
| FY2021 | 2.04 | 0.40 |
| FY2020 | 1.63 | (0.33) |
| FY2019 | 1.97 | (0.34) |
| FY2018 | 2.31 | (0.17) |
| FY2017 | 2.48 | 0.24 |
| FY2016 | 2.23 | (0.10) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.07 | — | 0.09 | |
| Retained earnings / total assets | 0.03 | — | 0.04 | |
| EBIT / total assets | 0.02 | — | 0.06 | |
| Market value of equity / total liabilities | 0.46 | — | 0.28 | |
| Sales / total assets | 0.96 | — | 0.96 | |
| Altman Z-score | Distress zone | 1.42 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.82 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| GNTX Gentex Corporation compare | 9.3× |
| HSAI Hesai Group Sponsored ADR compare | 6.2× |
| ATMU Atmus Filtration Technologies Inc. compare | 5.6× |
| DORM Dorman Products, Inc. compare | 4.7× |
| VC Visteon Corporation compare | 3.8× |
| PHIN PHINIA Inc. compare | 2.1× |
| GTX Garrett Motion Inc. compare | 2.0× |
| AAP Advance Auto Parts, Inc. compare | 1.7× |
| DAN Dana Incorporated | 1.4× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets