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Dana cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$32.0M in Q3 2026 · $87.0M over twelve months

Operating cash flow$102M
Capital spending−$70.0M
Free cash flow+$32.0M
Cash / net income5.4×
Cash conversion cycle42 days

Analysis

In Q3 2026, Dana generated $102M of operating cash flow and spent $70.0M on capital projects, leaving free cash flow of $32.0M. That is $30.0M less than in Q3 2025 ($62.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $422M; the largest uses were net borrowing (+) / repaid (−) ($1.8B), buybacks ($580M), capital spending ($335M); besides operations, cash came from other investing ($2.5B), asset & business sales ($3.0M); the cash balance fell by $89.0M.

Operating cash flow was $102M against net income of $19.0M — 5.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$86.0M, deferred taxes −$10.0M, stock-based pay +$9.0M.

Its cash conversion cycle was 42 days (receivables 58 + inventory 49 − payables 66).

Free cash flow

Dana: free cash flow by quarterDana: free cash flow by quarter$188MQ4 2024−$104MQ1 2025−$5.0MQ2 2025$62.0MQ3 2025$345MQ4 2025−$257MQ1 2026−$33.0MQ2 2026$32.0MQ3 2026
Operating cash flow less capital spending.
Dana: operating cash flow against capital spendingDana: operating cash flow against capital spendingOperating cash flowCapital spending$302M$114MQ4 2024−$37.0M$67.0MQ1 2025$32.0M$37.0MQ2 2025$111M$49.0MQ3 2025$406M$61.0MQ4 2025−$195M$62.0MQ1 2026$109M$142MQ2 2026$102M$70.0MQ3 2026
Latest (Q3 2026): Operating cash flow $102M, Capital spending $70.0M.

Capital allocation, year by year

Dana: where the cash came from (up) and went (down), by fiscal yearDana: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $158MFY2021: Net borrowing −$9.0MFY2021: Shares issued $5.0MFY2021: Asset sales $85.0MFY2021: Capital spending −$369MFY2021: Acquisitions −$18.0MFY2021: Buybacks −$23.0MFY2021: Dividends −$58.0M$248MFY2021FY2022: Operating cash flow $649MFY2022: Net borrowing $11.0MFY2022: Asset sales $3.0MFY2022: Capital spending −$440MFY2022: Acquisitions −$1.0MFY2022: Buybacks −$25.0MFY2022: Dividends −$58.0M$663MFY2022FY2023: Operating cash flow $476MFY2023: Net borrowing $213MFY2023: Shares issued $3.0MFY2023: Asset sales $2.0MFY2023: Capital spending −$427MFY2023: Dividends −$58.0M$694MFY2023FY2024: Operating cash flow $450MFY2024: Net borrowing −$59.0MFY2024: Asset sales $7.0MFY2024: Capital spending −$312MFY2024: Dividends −$58.0M$457MFY2024FY2025: Operating cash flow $512MFY2025: Net borrowing $365MFY2025: Asset sales $13.0MFY2025: Capital spending −$214MFY2025: Buybacks −$650MFY2025: Dividends −$54.0M$890MFY2025
Over these 5 years operating cash flow totalled $2.2B; the largest uses were capital spending ($1.8B) and buybacks ($698M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$321M
Debt$1.6B
Net debt$1.3B
Due within a year$1.0M

Dana funds itself: free cash flow was $87.0M over the last twelve months, and $321M of cash and investments stands against $1.6B of debt ($1.0M due within a year, 321.0× covered by cash).

Dana: debt maturities by year (FY2025)Dana: debt maturities by year (FY2025)$1.0MYear 1$400MYear 2$401MYear 3$382MYear 4$401MYear 5
Principal due in each year as disclosed in the annual report, against $321M of cash and investments now.

Where the cash came from and went

Dana: sources (+) and uses (−) of cash, Q3 2026Dana: sources (+) and uses (−) of cash, Q3 2026Other financing$676MNet borrowing (+) / repaid (−)−$483MBuybacks−$200MOperating cash flow$102MCapital spending−$70.0MDividends−$13.0MOther investing−$10.0MCash drawn (+) / kept (−)$9.0MPartners−$8.0MExchange rates−$3.0M
Dana: sources (+) and uses (−) of cash, TTM to Q3 2026Dana: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$2.5BNet borrowing (+) / repaid (−)−$1.8BBuybacks−$580MOperating cash flow$422MCapital spending−$335MOther financing−$184MCash drawn (+) / kept (−)$89.0MDividends−$51.0MPartners−$13.0MExchange rates−$4.0MAsset & business sales$3.0M

From profit to cash

Dana: net income to operating cash flow, Q3 2026Dana: net income to operating cash flow, Q3 2026Net income$19.0MDepreciation & amortization$86.0MStock-based pay$9.0MDeferred taxes−$10.0MOperating cash flow$102M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202658496642
Q2 202658506444
Q1 202654536344
Q4 202553586447
Q3 202556586351
Q2 202560697257
Q1 202558727555
Q4 202461737460

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$102M−$70.0M−$200M−$13.0M−$483M$9.0M$32.0M
Q2 2026$109M−$142M−$44.0M−$13.0M−$11.0M$143M−$33.0M
Q1 2026−$195M−$62.0M−$125M−$13.0M−$1.9B−$6.0M−$257M
Q4 2025$406M−$61.0M−$211M−$12.0M−$22.0M−$57.0M$345M
Q3 2025$111M−$49.0M−$182M−$13.0M$94.0M$72.0M$62.0M
Q2 2025$32.0M−$37.0M—−$14.0M$195M$22.0M−$5.0M
Q1 2025−$37.0M−$67.0M—−$15.0M$117M−$11.0M−$104M
Q4 2024$302M−$114M—−$15.0M−$2.0M−$77.0M$188M

Dana: income statement and cash flow

Dana, Q3 2026: revenue $2.0B (+6% year over year), operating margin 4.5%. The chart follows the revenue to costs, profit and cash.

Dana: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.