Intrinsic value of Dana - DAN

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$18.55

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$18.55

 
Intrinsic value

$52.00

 
Up/down potential

+180%

 
Rating

str. buy

 
Value-price divergence* premium content

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*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of DAN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -3.86
  5.20
  5.18
  5.16
  5.15
  5.13
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.06
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
  5.03
  5.03
  5.02
  5.02
  5.02
  5.02
  5.02
  5.01
  5.01
  5.01
  5.01
  5.01
Revenue, $m
  5,826
  6,129
  6,446
  6,779
  7,128
  7,494
  7,877
  8,280
  8,701
  9,144
  9,608
  10,095
  10,607
  11,143
  11,706
  12,296
  12,916
  13,567
  14,250
  14,966
  15,719
  16,509
  17,338
  18,208
  19,122
  20,081
  21,088
  22,145
  23,254
  24,420
  25,643
Variable operating expenses, $m
 
  3,769
  3,964
  4,168
  4,382
  4,606
  4,841
  5,088
  5,347
  5,618
  5,903
  6,193
  6,507
  6,836
  7,181
  7,543
  7,924
  8,323
  8,742
  9,181
  9,643
  10,127
  10,636
  11,170
  11,730
  12,319
  12,936
  13,585
  14,266
  14,980
  15,731
Fixed operating expenses, $m
 
  2,023
  2,074
  2,126
  2,179
  2,233
  2,289
  2,346
  2,405
  2,465
  2,527
  2,590
  2,655
  2,721
  2,789
  2,859
  2,930
  3,004
  3,079
  3,156
  3,235
  3,315
  3,398
  3,483
  3,570
  3,660
  3,751
  3,845
  3,941
  4,040
  4,141
Total operating expenses, $m
  5,511
  5,792
  6,038
  6,294
  6,561
  6,839
  7,130
  7,434
  7,752
  8,083
  8,430
  8,783
  9,162
  9,557
  9,970
  10,402
  10,854
  11,327
  11,821
  12,337
  12,878
  13,442
  14,034
  14,653
  15,300
  15,979
  16,687
  17,430
  18,207
  19,020
  19,872
Operating income, $m
  315
  337
  409
  486
  567
  654
  747
  845
  949
  1,060
  1,178
  1,312
  1,445
  1,586
  1,736
  1,894
  2,062
  2,240
  2,429
  2,629
  2,841
  3,066
  3,303
  3,555
  3,821
  4,102
  4,400
  4,715
  5,048
  5,400
  5,772
EBITDA, $m
  497
  527
  609
  696
  788
  885
  989
  1,099
  1,216
  1,340
  1,472
  1,611
  1,759
  1,916
  2,082
  2,258
  2,445
  2,642
  2,852
  3,073
  3,307
  3,555
  3,817
  4,094
  4,387
  4,697
  5,025
  5,371
  5,737
  6,123
  6,531
Interest expense (income), $m
  111
  110
  123
  137
  151
  166
  182
  198
  216
  234
  253
  273
  294
  316
  339
  363
  388
  415
  443
  472
  503
  536
  570
  605
  643
  682
  723
  767
  812
  860
  910
Earnings before tax, $m
  215
  227
  286
  349
  416
  488
  565
  647
  734
  827
  925
  1,040
  1,151
  1,270
  1,397
  1,531
  1,674
  1,826
  1,986
  2,157
  2,338
  2,530
  2,734
  2,950
  3,178
  3,420
  3,677
  3,948
  4,236
  4,540
  4,862
Tax expense, $m
  -424
  61
  77
  94
  112
  132
  153
  175
  198
  223
  250
  281
  311
  343
  377
  413
  452
  493
  536
  582
  631
  683
  738
  796
  858
  924
  993
  1,066
  1,144
  1,226
  1,313
Net income, $m
  640
  165
  209
  255
  304
  356
  412
  472
  536
  603
  676
  759
  841
  927
  1,020
  1,118
  1,222
  1,333
  1,450
  1,575
  1,707
  1,847
  1,996
  2,153
  2,320
  2,497
  2,684
  2,882
  3,092
  3,314
  3,549

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  737
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,860
  4,338
  4,562
  4,798
  5,045
  5,303
  5,575
  5,860
  6,158
  6,471
  6,800
  7,145
  7,506
  7,886
  8,284
  8,702
  9,141
  9,601
  10,085
  10,592
  11,124
  11,683
  12,270
  12,886
  13,533
  14,211
  14,924
  15,672
  16,458
  17,282
  18,148
Adjusted assets (=assets-cash), $m
  4,123
  4,338
  4,562
  4,798
  5,045
  5,303
  5,575
  5,860
  6,158
  6,471
  6,800
  7,145
  7,506
  7,886
  8,284
  8,702
  9,141
  9,601
  10,085
  10,592
  11,124
  11,683
  12,270
  12,886
  13,533
  14,211
  14,924
  15,672
  16,458
  17,282
  18,148
Revenue / Adjusted assets
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
  1.413
Average production assets, $m
  1,396
  1,471
  1,547
  1,627
  1,711
  1,799
  1,891
  1,987
  2,088
  2,195
  2,306
  2,423
  2,546
  2,674
  2,809
  2,951
  3,100
  3,256
  3,420
  3,592
  3,773
  3,962
  4,161
  4,370
  4,589
  4,819
  5,061
  5,315
  5,581
  5,861
  6,154
Working capital, $m
  1,031
  380
  400
  420
  442
  465
  488
  513
  539
  567
  596
  626
  658
  691
  726
  762
  801
  841
  883
  928
  975
  1,024
  1,075
  1,129
  1,186
  1,245
  1,307
  1,373
  1,442
  1,514
  1,590
Total debt, $m
  1,664
  1,782
  1,980
  2,188
  2,405
  2,633
  2,872
  3,123
  3,386
  3,662
  3,952
  4,255
  4,574
  4,909
  5,259
  5,628
  6,014
  6,420
  6,846
  7,293
  7,762
  8,254
  8,771
  9,314
  9,883
  10,481
  11,109
  11,768
  12,460
  13,187
  13,949
Total liabilities, $m
  3,703
  3,821
  4,019
  4,227
  4,444
  4,672
  4,911
  5,162
  5,425
  5,701
  5,991
  6,294
  6,613
  6,948
  7,298
  7,667
  8,053
  8,459
  8,885
  9,332
  9,801
  10,293
  10,810
  11,353
  11,922
  12,520
  13,148
  13,807
  14,499
  15,226
  15,988
Total equity, $m
  1,157
  516
  543
  571
  600
  631
  663
  697
  733
  770
  809
  850
  893
  938
  986
  1,036
  1,088
  1,143
  1,200
  1,260
  1,324
  1,390
  1,460
  1,533
  1,610
  1,691
  1,776
  1,865
  1,958
  2,057
  2,160
Total liabilities and equity, $m
  4,860
  4,337
  4,562
  4,798
  5,044
  5,303
  5,574
  5,859
  6,158
  6,471
  6,800
  7,144
  7,506
  7,886
  8,284
  8,703
  9,141
  9,602
  10,085
  10,592
  11,125
  11,683
  12,270
  12,886
  13,532
  14,211
  14,924
  15,672
  16,457
  17,283
  18,148
Debt-to-equity ratio
  1.438
  3.450
  3.650
  3.830
  4.010
  4.170
  4.330
  4.480
  4.620
  4.760
  4.880
  5.010
  5.120
  5.230
  5.340
  5.430
  5.530
  5.620
  5.700
  5.790
  5.860
  5.940
  6.010
  6.070
  6.140
  6.200
  6.260
  6.310
  6.360
  6.410
  6.460
Adjusted equity ratio
  0.102
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119
  0.119

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  640
  165
  209
  255
  304
  356
  412
  472
  536
  603
  676
  759
  841
  927
  1,020
  1,118
  1,222
  1,333
  1,450
  1,575
  1,707
  1,847
  1,996
  2,153
  2,320
  2,497
  2,684
  2,882
  3,092
  3,314
  3,549
Depreciation, amort., depletion, $m
  182
  191
  200
  210
  220
  231
  242
  254
  267
  280
  294
  299
  314
  330
  347
  364
  383
  402
  422
  443
  466
  489
  514
  539
  567
  595
  625
  656
  689
  724
  760
Funds from operations, $m
  313
  356
  409
  465
  524
  588
  655
  726
  803
  883
  969
  1,058
  1,155
  1,258
  1,367
  1,482
  1,605
  1,735
  1,872
  2,018
  2,173
  2,336
  2,509
  2,693
  2,887
  3,092
  3,309
  3,538
  3,781
  4,038
  4,309
Change in working capital, $m
  -71
  19
  20
  21
  22
  23
  24
  25
  26
  27
  29
  30
  32
  33
  35
  37
  38
  40
  42
  44
  47
  49
  51
  54
  57
  59
  62
  66
  69
  72
  76
Cash from operations, $m
  384
  464
  389
  444
  503
  565
  631
  702
  776
  856
  940
  1,028
  1,123
  1,224
  1,332
  1,446
  1,566
  1,694
  1,830
  1,974
  2,126
  2,287
  2,458
  2,639
  2,830
  3,032
  3,247
  3,473
  3,712
  3,965
  4,233
Maintenance CAPEX, $m
  0
  -172
  -182
  -191
  -201
  -211
  -222
  -233
  -245
  -258
  -271
  -285
  -299
  -314
  -330
  -347
  -364
  -383
  -402
  -422
  -443
  -466
  -489
  -514
  -539
  -567
  -595
  -625
  -656
  -689
  -724
New CAPEX, $m
  -322
  -75
  -76
  -80
  -84
  -88
  -92
  -97
  -101
  -106
  -111
  -117
  -123
  -129
  -135
  -142
  -149
  -156
  -164
  -172
  -181
  -190
  -199
  -209
  -219
  -230
  -242
  -254
  -266
  -280
  -294
Cash from investing activities, $m
  -365
  -247
  -258
  -271
  -285
  -299
  -314
  -330
  -346
  -364
  -382
  -402
  -422
  -443
  -465
  -489
  -513
  -539
  -566
  -594
  -624
  -656
  -688
  -723
  -758
  -797
  -837
  -879
  -922
  -969
  -1,018
Free cash flow, $m
  19
  216
  131
  173
  218
  266
  317
  372
  430
  492
  558
  626
  701
  781
  866
  957
  1,053
  1,155
  1,264
  1,379
  1,502
  1,632
  1,770
  1,916
  2,071
  2,236
  2,410
  2,594
  2,790
  2,997
  3,216
Issuance/(repayment) of debt, $m
  68
  187
  198
  207
  218
  228
  239
  251
  263
  276
  289
  304
  319
  334
  351
  368
  386
  406
  426
  447
  469
  492
  517
  543
  570
  598
  628
  659
  692
  726
  763
Issuance/(repurchase) of shares, $m
  -81
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -53
  187
  198
  207
  218
  228
  239
  251
  263
  276
  289
  304
  319
  334
  351
  368
  386
  406
  426
  447
  469
  492
  517
  543
  570
  598
  628
  659
  692
  726
  763
Total cash flow (excl. dividends), $m
  -49
  403
  329
  381
  435
  494
  556
  622
  693
  768
  848
  930
  1,020
  1,116
  1,217
  1,325
  1,440
  1,561
  1,690
  1,826
  1,971
  2,124
  2,287
  2,459
  2,641
  2,834
  3,038
  3,254
  3,482
  3,723
  3,979
Retained Cash Flow (-), $m
  -429
  -27
  -27
  -28
  -29
  -31
  -32
  -34
  -36
  -37
  -39
  -41
  -43
  -45
  -47
  -50
  -52
  -55
  -58
  -60
  -63
  -67
  -70
  -73
  -77
  -81
  -85
  -89
  -93
  -98
  -103
Prev. year cash balance distribution, $m
 
  668
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,044
  302
  353
  406
  463
  524
  588
  657
  731
  809
  889
  977
  1,071
  1,170
  1,275
  1,387
  1,506
  1,632
  1,766
  1,908
  2,058
  2,217
  2,386
  2,564
  2,753
  2,953
  3,164
  3,388
  3,625
  3,876
Discount rate, %
 
  5.10
  5.36
  5.62
  5.90
  6.20
  6.51
  6.83
  7.18
  7.54
  7.91
  8.31
  8.72
  9.16
  9.62
  10.10
  10.60
  11.13
  11.69
  12.27
  12.89
  13.53
  14.21
  14.92
  15.66
  16.45
  17.27
  18.13
  19.04
  19.99
  20.99
PV of cash for distribution, $m
 
  994
  272
  299
  323
  343
  359
  370
  378
  380
  378
  370
  358
  343
  324
  301
  277
  250
  223
  196
  169
  143
  119
  97
  78
  61
  47
  35
  26
  18
  13
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Dana Incorporated manufactures and sells driveline, sealing, and thermal-management products for vehicle manufacturers in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies. The Light Vehicle Driveline Technologies segment offers front axles, rear axles, driveshafts/propshafts, differentials, torque couplings, and modular assemblies for use in light trucks, sport utility vehicles, crossover utility vehicles, vans, and passenger cars. The Commercial Vehicle Driveline Technologies segment provides Steer and drive axles, driveshafts, and tire inflation systems for medium and heavy duty trucks, buses, and specialty vehicles. The Off-Highway Driveline Technologies segment manufactures front and rear axles, driveshafts, transmissions, torque converters, tire inflation systems, and electronic controls for use in construction, earth moving, agricultural, mining, forestry, rail, and material handling applications. The Power Technologies segment offers gaskets, cover modules, heat shields, engine sealing systems, cooling products, and heat transfer products for light vehicle, medium/heavy vehicle, and off-highway markets. The company was formerly known as Dana Holding Corporation and changed its name to Dana Incorporated in August 2016. Dana Incorporated was founded in 1904 and is headquartered in Maumee, Ohio.

FINANCIAL RATIOS  of  Dana (DAN)

Valuation Ratios
P/E Ratio 4.2
Price to Sales 0.5
Price to Book 2.3
Price to Tangible Book
Price to Cash Flow 7
Price to Free Cash Flow 43.1
Growth Rates
Sales Growth Rate -3.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 23.8%
Cap. Spend. - 3 Yr. Gr. Rate 9%
Financial Strength
Quick Ratio 11
Current Ratio 0
LT Debt to Equity 137.9%
Total Debt to Equity 143.8%
Interest Coverage 3
Management Effectiveness
Return On Assets 21.2%
Ret/ On Assets - 3 Yr. Avg. 11.9%
Return On Total Capital 25%
Ret/ On T. Cap. - 3 Yr. Avg. 14.2%
Return On Equity 67.9%
Return On Equity - 3 Yr. Avg. 37.4%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 14.5%
Gross Margin - 3 Yr. Avg. 14.3%
EBITDA Margin 8.7%
EBITDA Margin - 3 Yr. Avg. 9%
Operating Margin 5.4%
Oper. Margin - 3 Yr. Avg. 5.9%
Pre-Tax Margin 3.7%
Pre-Tax Margin - 3 Yr. Avg. 4.1%
Net Profit Margin 11%
Net Profit Margin - 3 Yr. Avg. 6.1%
Effective Tax Rate -197.2%
Eff/ Tax Rate - 3 Yr. Avg. -65.4%
Payout Ratio 5.5%

DAN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DAN stock intrinsic value calculation we used $5826 million for the last fiscal year's total revenue generated by Dana. The default revenue input number comes from 2016 income statement of Dana. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our DAN stock valuation model: a) initial revenue growth rate of 5.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.1%, whose default value for DAN is calculated based on our internal credit rating of Dana, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Dana.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of DAN stock the variable cost ratio is equal to 61.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $1974 million in the base year in the intrinsic value calculation for DAN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.9% for Dana.

Corporate tax rate of 27% is the nominal tax rate for Dana. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the DAN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for DAN are equal to 24%.

Life of production assets of 8.1 years is the average useful life of capital assets used in Dana operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for DAN is equal to 6.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1157 million for Dana - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 145.52 million for Dana is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Dana at the current share price and the inputted number of shares is $2.7 billion.


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COMPANY NEWS

▶ Dana Completes $400 Million in Senior Notes Offering   [Apr-04-17 11:50AM  PR Newswire]
▶ Dana to Pay Dividend on Common Stock   [04:30PM  PR Newswire]
▶ Dana Recognized as a Top Workplace   [Jan-30-17 02:00PM  PR Newswire]
▶ [$$] Magna International Shares: Priced to Move   [Jan-28-17 12:01AM  at Barrons.com]
▶ EU mergers and takeovers (Dec 21)   [Dec-21-16 03:00AM  Reuters]
▶ [$$] High School Dropout Rose From Factory Floor to CEO of Dana   [Dec-02-16 07:50PM  at The Wall Street Journal]
▶ [$$] High School Dropout Rose From Factory Floor to CEO of Dana   [10:00AM  at The Wall Street Journal]
▶ Hedge Funds Are Crazy About Ebix Inc (EBIX)   [05:44AM  at Insider Monkey]
▶ Should You Avoid Dana Inc (DAN)?   [Dec-01-16 06:04AM  at Insider Monkey]
▶ EU mergers and takeovers (Nov 25)   [Nov-25-16 08:23AM  Reuters]
▶ Dana to Host Investor Day on November 9   [11:17AM  PR Newswire]
Stock chart of DAN Financial statements of DAN
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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