Dana Highlights Strong Q4, Previews 2030 Targets

Company reports record free cash flow, reaffirms 2026 guidance, and outlines long-term financial goals.

Feb. 24, 2026 at 9:47pm

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Dana (NYSE:DAN) executives used the company's fourth-quarter and full-year 2025 earnings call to highlight stronger-than-expected fourth-quarter results, a record level of annual free cash flow since 2013, and the balance sheet reset that followed the sale of its Off-Highway business. Management also reaffirmed 2026 guidance and previewed 'Dana 2030' financial targets ahead of a planned March 25 Capital Markets Day in New York.

Why it matters

Dana's strong Q4 performance and long-term outlook demonstrate the company's ability to navigate challenging market conditions and position itself for future growth. The sale of the Off-Highway business and focus on cost reduction have strengthened Dana's balance sheet and cash flow, allowing the company to increase shareholder returns and invest in new initiatives.

The details

Dana reported Q4 2025 sales of $1.867 billion, up $93 million year-over-year, driven by customer recoveries and currency translation. Adjusted EBITDA was $208 million, a 640-basis-point improvement versus the prior-year quarter. For the full year, 2025 sales were $7.5 billion, down $234 million from 2024, but adjusted EBITDA improved $215 million to $610 million. Adjusted free cash flow was $331 million in 2025, a $250 million improvement year-over-year. Dana returned over $700 million to shareholders in 2025 through share repurchases and dividends.

  • Dana reported Q4 2025 and full-year 2025 results on February 19, 2026.
  • Dana plans to hold a Capital Markets Day on March 25, 2026 to provide more details on its 'Dana 2030' financial targets.

The players

Dana Incorporated

A global leader in the design and manufacture of drivetrain, sealing, and thermal-management technologies for the automotive, commercial vehicle, off-highway and industrial markets.

Bruce McDonald

Chairman and CEO of Dana Incorporated.

Byron Foster

President of the Light Vehicle Systems Group at Dana, and incoming CEO.

Timothy Kraus

Chief Financial Officer of Dana Incorporated.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee

What’s next

Dana plans to provide more details on its 'Dana 2030' financial targets, including $10 billion in sales, 14-15% EBITDA margins, and 6% adjusted free cash flow, at its Capital Markets Day on March 25, 2026.

The takeaway

Dana's strong Q4 and full-year 2025 results, coupled with its long-term financial targets, demonstrate the company's ability to adapt to market conditions and position itself for future growth. The sale of the Off-Highway business and focus on cost reduction have strengthened Dana's balance sheet and cash flow, allowing the company to increase shareholder returns and invest in new initiatives.