Intrinsic value of Dana - DAN

Previous Close

$20.00

  Intrinsic Value

$130.47

stock screener

  Rating & Target

str. buy

+552%

Previous close

$20.00

 
Intrinsic value

$130.47

 
Up/down potential

+552%

 
Rating

str. buy

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 2017), $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 2.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  23.70
  21.83
  20.15
  18.63
  17.27
  16.04
  14.94
  13.94
  13.05
  12.24
  11.52
  10.87
  10.28
  9.75
  9.28
  8.85
  8.47
  8.12
  7.81
  7.53
  7.27
  7.05
  6.84
  6.66
  6.49
  6.34
  6.21
  6.09
  5.98
  5.88
Revenue, $m
  8,918
  10,864
  13,053
  15,485
  18,159
  21,072
  24,220
  27,597
  31,199
  35,019
  39,053
  43,298
  47,749
  52,407
  57,269
  62,337
  67,614
  73,104
  78,811
  84,742
  90,906
  97,311
  103,969
  110,890
  118,089
  125,578
  133,375
  141,494
  149,953
  158,772
Variable operating expenses, $m
  8,277
  10,078
  12,102
  14,351
  16,824
  19,518
  22,430
  25,553
  28,884
  32,417
  36,118
  40,043
  44,160
  48,467
  52,964
  57,651
  62,531
  67,608
  72,886
  78,371
  84,072
  89,996
  96,153
  102,554
  109,211
  116,138
  123,348
  130,857
  138,680
  146,836
Fixed operating expenses, $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
Total operating expenses, $m
  8,277
  10,078
  12,102
  14,351
  16,824
  19,518
  22,430
  25,553
  28,884
  32,417
  36,118
  40,043
  44,160
  48,467
  52,964
  57,651
  62,531
  67,608
  72,886
  78,371
  84,072
  89,996
  96,153
  102,554
  109,211
  116,138
  123,348
  130,857
  138,680
  146,836
Operating income, $m
  640
  787
  951
  1,134
  1,335
  1,554
  1,791
  2,045
  2,315
  2,602
  2,936
  3,255
  3,590
  3,940
  4,305
  4,686
  5,083
  5,496
  5,925
  6,371
  6,834
  7,315
  7,816
  8,336
  8,877
  9,440
  10,026
  10,637
  11,273
  11,936
EBITDA, $m
  900
  1,097
  1,318
  1,564
  1,834
  2,128
  2,446
  2,787
  3,150
  3,536
  3,943
  4,372
  4,822
  5,292
  5,783
  6,295
  6,827
  7,382
  7,958
  8,557
  9,179
  9,826
  10,498
  11,197
  11,924
  12,680
  13,468
  14,287
  15,142
  16,032
Interest expense (income), $m
  111
  106
  171
  245
  328
  420
  522
  632
  752
  880
  1,016
  1,161
  1,314
  1,475
  1,644
  1,821
  2,005
  2,197
  2,398
  2,606
  2,822
  3,047
  3,281
  3,524
  3,777
  4,039
  4,312
  4,596
  4,892
  5,200
  5,521
Earnings before tax, $m
  534
  615
  706
  806
  915
  1,032
  1,158
  1,293
  1,436
  1,586
  1,775
  1,941
  2,114
  2,296
  2,484
  2,681
  2,885
  3,098
  3,319
  3,548
  3,787
  4,034
  4,292
  4,560
  4,838
  5,128
  5,430
  5,745
  6,073
  6,415
Tax expense, $m
  144
  166
  191
  218
  247
  279
  313
  349
  388
  428
  479
  524
  571
  620
  671
  724
  779
  836
  896
  958
  1,022
  1,089
  1,159
  1,231
  1,306
  1,385
  1,466
  1,551
  1,640
  1,732
Net income, $m
  390
  449
  515
  588
  668
  754
  846
  944
  1,048
  1,158
  1,295
  1,417
  1,543
  1,676
  1,814
  1,957
  2,106
  2,261
  2,423
  2,590
  2,764
  2,945
  3,133
  3,328
  3,532
  3,744
  3,964
  4,194
  4,433
  4,683

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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
Total assets, $m
  6,983
  8,508
  10,222
  12,126
  14,220
  16,501
  18,966
  21,611
  24,431
  27,423
  30,582
  33,906
  37,392
  41,039
  44,846
  48,815
  52,948
  57,246
  61,715
  66,360
  71,187
  76,203
  81,416
  86,836
  92,474
  98,339
  104,444
  110,802
  117,426
  124,332
Adjusted assets (=assets-cash), $m
  6,983
  8,508
  10,222
  12,126
  14,220
  16,501
  18,966
  21,611
  24,431
  27,423
  30,582
  33,906
  37,392
  41,039
  44,846
  48,815
  52,948
  57,246
  61,715
  66,360
  71,187
  76,203
  81,416
  86,836
  92,474
  98,339
  104,444
  110,802
  117,426
  124,332
Revenue / Adjusted assets
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
Average production assets, $m
  2,301
  2,803
  3,368
  3,995
  4,685
  5,437
  6,249
  7,120
  8,049
  9,035
  10,076
  11,171
  12,319
  13,521
  14,775
  16,083
  17,444
  18,861
  20,333
  21,863
  23,454
  25,106
  26,824
  28,610
  30,467
  32,399
  34,411
  36,505
  38,688
  40,963
Working capital, $m
  -241
  -293
  -352
  -418
  -490
  -569
  -654
  -745
  -842
  -946
  -1,054
  -1,169
  -1,289
  -1,415
  -1,546
  -1,683
  -1,826
  -1,974
  -2,128
  -2,288
  -2,454
  -2,627
  -2,807
  -2,994
  -3,188
  -3,391
  -3,601
  -3,820
  -4,049
  -4,287
Total debt, $m
  2,901
  4,153
  5,560
  7,124
  8,843
  10,716
  12,739
  14,911
  17,226
  19,682
  22,276
  25,005
  27,867
  30,861
  33,987
  37,245
  40,638
  44,167
  47,836
  51,650
  55,612
  59,731
  64,011
  68,461
  73,089
  77,904
  82,916
  88,136
  93,575
  99,244
Total liabilities, $m
  5,733
  6,985
  8,392
  9,956
  11,675
  13,548
  15,571
  17,743
  20,058
  22,514
  25,108
  27,837
  30,699
  33,693
  36,819
  40,077
  43,470
  46,999
  50,668
  54,482
  58,444
  62,563
  66,843
  71,293
  75,921
  80,736
  85,748
  90,968
  96,407
  102,076
Total equity, $m
  1,250
  1,523
  1,830
  2,171
  2,545
  2,954
  3,395
  3,868
  4,373
  4,909
  5,474
  6,069
  6,693
  7,346
  8,028
  8,738
  9,478
  10,247
  11,047
  11,878
  12,742
  13,640
  14,574
  15,544
  16,553
  17,603
  18,695
  19,833
  21,019
  22,255
Total liabilities and equity, $m
  6,983
  8,508
  10,222
  12,127
  14,220
  16,502
  18,966
  21,611
  24,431
  27,423
  30,582
  33,906
  37,392
  41,039
  44,847
  48,815
  52,948
  57,246
  61,715
  66,360
  71,186
  76,203
  81,417
  86,837
  92,474
  98,339
  104,443
  110,801
  117,426
  124,331
Debt-to-equity ratio
  2.320
  2.730
  3.040
  3.280
  3.470
  3.630
  3.750
  3.850
  3.940
  4.010
  4.070
  4.120
  4.160
  4.200
  4.230
  4.260
  4.290
  4.310
  4.330
  4.350
  4.360
  4.380
  4.390
  4.400
  4.420
  4.430
  4.440
  4.440
  4.450
  4.460
Adjusted equity ratio
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179
  0.179

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  390
  449
  515
  588
  668
  754
  846
  944
  1,048
  1,158
  1,295
  1,417
  1,543
  1,676
  1,814
  1,957
  2,106
  2,261
  2,423
  2,590
  2,764
  2,945
  3,133
  3,328
  3,532
  3,744
  3,964
  4,194
  4,433
  4,683
Depreciation, amort., depletion, $m
  260
  310
  367
  430
  499
  574
  655
  742
  835
  934
  1,008
  1,117
  1,232
  1,352
  1,478
  1,608
  1,744
  1,886
  2,033
  2,186
  2,345
  2,511
  2,682
  2,861
  3,047
  3,240
  3,441
  3,651
  3,869
  4,096
Funds from operations, $m
  650
  760
  882
  1,018
  1,166
  1,327
  1,501
  1,686
  1,883
  2,091
  2,303
  2,534
  2,775
  3,028
  3,291
  3,565
  3,851
  4,148
  4,456
  4,777
  5,110
  5,456
  5,815
  6,189
  6,579
  6,983
  7,405
  7,844
  8,302
  8,779
Change in working capital, $m
  -46
  -53
  -59
  -66
  -72
  -79
  -85
  -91
  -97
  -103
  -109
  -115
  -120
  -126
  -131
  -137
  -142
  -148
  -154
  -160
  -166
  -173
  -180
  -187
  -194
  -202
  -210
  -219
  -228
  -238
Cash from operations, $m
  696
  812
  941
  1,084
  1,239
  1,406
  1,586
  1,777
  1,980
  2,195
  2,412
  2,648
  2,896
  3,154
  3,422
  3,702
  3,993
  4,296
  4,610
  4,937
  5,276
  5,629
  5,995
  6,376
  6,773
  7,186
  7,616
  8,063
  8,530
  9,017
Maintenance CAPEX, $m
  -186
  -230
  -280
  -337
  -400
  -469
  -544
  -625
  -712
  -805
  -903
  -1,008
  -1,117
  -1,232
  -1,352
  -1,478
  -1,608
  -1,744
  -1,886
  -2,033
  -2,186
  -2,345
  -2,511
  -2,682
  -2,861
  -3,047
  -3,240
  -3,441
  -3,651
  -3,869
New CAPEX, $m
  -441
  -502
  -565
  -627
  -690
  -752
  -812
  -871
  -929
  -986
  -1,041
  -1,095
  -1,149
  -1,202
  -1,254
  -1,308
  -1,361
  -1,416
  -1,472
  -1,530
  -1,590
  -1,653
  -1,718
  -1,786
  -1,857
  -1,932
  -2,011
  -2,095
  -2,183
  -2,275
Cash from investing activities, $m
  -627
  -732
  -845
  -964
  -1,090
  -1,221
  -1,356
  -1,496
  -1,641
  -1,791
  -1,944
  -2,103
  -2,266
  -2,434
  -2,606
  -2,786
  -2,969
  -3,160
  -3,358
  -3,563
  -3,776
  -3,998
  -4,229
  -4,468
  -4,718
  -4,979
  -5,251
  -5,536
  -5,834
  -6,144
Free cash flow, $m
  69
  80
  96
  119
  149
  186
  230
  281
  339
  404
  468
  546
  630
  720
  816
  917
  1,024
  1,135
  1,252
  1,373
  1,499
  1,631
  1,767
  1,908
  2,055
  2,207
  2,364
  2,528
  2,697
  2,873
Issuance/(repayment) of debt, $m
  1,102
  1,252
  1,407
  1,564
  1,719
  1,873
  2,024
  2,171
  2,315
  2,456
  2,594
  2,729
  2,862
  2,994
  3,126
  3,259
  3,393
  3,529
  3,669
  3,813
  3,963
  4,118
  4,280
  4,450
  4,628
  4,815
  5,012
  5,220
  5,439
  5,669
Issuance/(repurchase) of shares, $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 from financing (excl. dividends), $m  
  1,102
  1,252
  1,407
  1,564
  1,719
  1,873
  2,024
  2,171
  2,315
  2,456
  2,594
  2,729
  2,862
  2,994
  3,126
  3,259
  3,393
  3,529
  3,669
  3,813
  3,963
  4,118
  4,280
  4,450
  4,628
  4,815
  5,012
  5,220
  5,439
  5,669
Total cash flow (excl. dividends), $m
  1,172
  1,331
  1,504
  1,683
  1,868
  2,059
  2,254
  2,452
  2,654
  2,860
  3,061
  3,275
  3,492
  3,714
  3,942
  4,176
  4,416
  4,664
  4,921
  5,186
  5,462
  5,749
  6,047
  6,358
  6,683
  7,022
  7,377
  7,747
  8,136
  8,543
Retained Cash Flow (-), $m
  -237
  -273
  -307
  -341
  -375
  -408
  -441
  -473
  -505
  -535
  -565
  -595
  -624
  -653
  -682
  -710
  -740
  -769
  -800
  -831
  -864
  -898
  -933
  -970
  -1,009
  -1,050
  -1,093
  -1,138
  -1,186
  -1,236
Prev. year cash balance distribution, $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 flow adjustment, $m
  22
  27
  33
  39
  46
  54
  63
  73
  83
  94
  105
  117
  130
  143
  157
  172
  187
  203
  219
  236
  254
  273
  292
  312
  333
  354
  377
  400
  424
  450
Cash available for distribution, $m
  935
  1,059
  1,197
  1,342
  1,494
  1,650
  1,812
  1,979
  2,150
  2,325
  2,496
  2,680
  2,868
  3,061
  3,260
  3,465
  3,676
  3,895
  4,121
  4,355
  4,598
  4,851
  5,114
  5,388
  5,674
  5,972
  6,284
  6,609
  6,950
  7,307
Discount rate, %
  5.20
  5.46
  5.73
  6.02
  6.32
  6.64
  6.97
  7.32
  7.68
  8.07
  8.47
  8.89
  9.34
  9.81
  10.30
  10.81
  11.35
  11.92
  12.51
  13.14
  13.80
  14.49
  15.21
  15.97
  16.77
  17.61
  18.49
  19.41
  20.38
  21.40
PV of cash for distribution, $m
  889
  952
  1,013
  1,062
  1,099
  1,122
  1,131
  1,125
  1,104
  1,070
  1,020
  964
  899
  826
  750
  671
  591
  513
  439
  369
  305
  247
  197
  154
  118
  88
  64
  46
  32
  22
Current shareholders' claim on cash, %
  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, formerly Dana Holding Corporation, is a global provider of technology driveline, sealing and thermal-management products. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies. It has operations in North America, South America, Europe and Asia pacific. Its Light Vehicle segment offers products, such as front axles, rear axles, driveshafts/propshafts, differentials, torque couplings and modular assemblies. Its Commercial Vehicle segment offers products, such as steer axles, drive axles, drive shafts and tire inflation systems. Its Off-Highway segment offers products, such as front axles, rear axles, drive shafts, transmissions, torque converters, tire inflation systems and electronic controls. Its Power Technologies segment offers products, including gaskets and cover modules.

FINANCIAL RATIOS  of  Dana (DAN)

Valuation Ratios
P/E Ratio 4.5
Price to Sales 0.5
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 7.5
Price to Free Cash Flow 46.4
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 $7209 million for the last fiscal year's total revenue generated by Dana. The default revenue input number comes from 2017 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 23.7% 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 5.2%, 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 92.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 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 5.9% 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 0.3%.

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 25.8%.

Life of production assets of 10 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 -2.7%. 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 - $1013 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 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 $2.9 billion.

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COMPANY NEWS

▶ Dana: 2Q Earnings Snapshot   [Jul-25-18 07:40AM  Associated Press]
▶ Dana Incorporated to Host Earnings Call   [07:00AM  ACCESSWIRE]
▶ Dana to Pay Dividend on Common Stock   [Jul-24-18 04:30PM  PR Newswire]
▶ Gabelli & Companys Annual Automotive Aftermarket Symposium   [May-23-18 07:30AM  Business Wire]
▶ Dana Earns Two Ford World Excellence Awards   [May-17-18 07:00AM  PR Newswire]
▶ Dana: 1Q Earnings Snapshot   [07:21AM  Associated Press]
▶ Dana to Pay Dividend on Common Stock   [Apr-26-18 04:30PM  PR Newswire]
▶ [$$] Melrose Industries Wins Bruising Takeover Battle for Britains GKN   [Mar-30-18 12:27AM  The Wall Street Journal]
▶ PRESS DIGEST- British Business - March 27   [Mar-26-18 08:23PM  Reuters]
▶ FTSE ends at 15-month low   [12:56PM  Reuters]
▶ PRESS DIGEST- British Business - March 19   [Mar-18-18 09:16PM  Reuters]
▶ Dana Incorporated to Host Investor Forum   [Mar-15-18 10:09AM  PR Newswire]
▶ Despite U.S. Tax Overhaul, Ohio-Based Dana Considers a Move Abroad   [Mar-09-18 11:07PM  The Wall Street Journal]
▶ Dana Wades Into a Takeover Fight With Bid for a GKN Unit   [04:23PM  The Wall Street Journal]
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