At a glance
Dauch Corp is worth $1.16B. Revenue fell 4.7% to $5.84B in fiscal 2025, at a loss; over 5 years it has grown 4.4% a year. It pays no dividend; it spent $26.5M buying back its shares over FY2021–FY2025.
The business in plain English
Dauch Corp, known as American Axle & Manufacturing Holdings until January 26, 2026, makes driveline parts and forged metal components for automakers. Driveline parts, such as axles and all-wheel drive systems, carry power from the engine or electric motor to the wheels. The company serves gas, hybrid and electric vehicles from operations in 24 countries, and its headquarters are in Detroit.
It earns money by winning contracts to supply parts for specific vehicle models. Three automakers account for most of its sales. General Motors made up about 44% of 2025 net sales, mostly for full-size light trucks, SUVs and crossovers. Ford followed at 15% and Stellantis at 13%. In 2025 the Driveline segment brought in $4.06 billion, or 69.5% of $5.84 billion in sales. Metal Forming, which the company calls the world's largest automotive forging operation, brought in $1.78 billion, or 30.5%. By region, Mexico (37.3%) and the United States (37.1%) accounted for most sales, followed by Europe (13.2%).
The 2025 figures come from before the company's roughly $1.7 billion acquisition of Dowlais Group plc, owner of GKN Automotive and GKN Powder Metallurgy, which closed on February 3, 2026. The deal added products such as sideshafts, which link the drive unit to each wheel. Revenue for the quarter ended June 30, 2026 was $2.96 billion, up 92.4% from a year earlier.
Price history
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DCH — over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Driveline | $4.06B | 69.5% |
| Metal Forming | $1.78B | 30.5% |
By geography
| Mexico | $2.18B | 37.3% |
| United States | $2.16B | 37.1% |
| Europe | $768.5M | 13.2% |
| Asia, excluding China | $293.6M | 5% |
| China | $242.7M | 4.2% |
| South America | $192.3M | 3.3% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $2.96B, up 92.4% from a year earlier, and net income was $1.0M (-97.5%).
- For fiscal 2025, revenue was $5.84B (-4.7% year over year; +4.4% a year from FY2020 to FY2025) with a -0.3% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +4.4% watch |
|---|---|
| Operating margin | 1.9% weak |
| Free cash flow margin | 2.7% watch |
| Return on equity (FY2025) | -3.1% weak |
| Return on assets (FY2025) | -0.3% weak |
| Net cash (cash minus debt) | $-4.15B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $4.71B | $-561.3M | $239.1M |
| FY2021 | $5.16B | $5.9M | $357.2M |
| FY2022 | $5.80B | $64.3M | $277.5M |
| FY2023 | $6.08B | $-33.6M | $201.5M |
| FY2024 | $6.12B | $35.0M | $207.4M |
| FY2025 | $5.84B | $-19.7M | $155.1M |
Valuation snapshot
| Market value | $1.16B |
|---|---|
| P/E ratio | — |
| Dividend yield | 0% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| DCH price data to Oct 28, 2026 | -40.3% | — | — | — | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 1 open-market purchases ($182K) and 0 sales ($0.00).
| Date | Insider | Type | Value |
|---|---|---|---|
| Mar 13, 2026 | David B. Walker Director | buy | $182K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 14.1% | Sep 30, 2025 |
| Millennium Management LLC | 6.2% | Jan 21, 2026 |
| DME Capital Management, LP | 5.2% | Jun 30, 2026 |
| FMR LLC | 4.3% | Mar 31, 2026 |
| Dimensional Fund Advisors LP | 3.4% | Mar 31, 2026 |
| ICS Opportunities, Ltd. | 0.7% | Jan 30, 2026 |
What could go wrong
- Heavy reliance on GM, Ford and Stellantis. GM, Ford and Stellantis made up about 44%, 15% and 13% of 2025 net sales. Lower output of the trucks and SUVs Dauch supplies, or lost replacement contracts, could hurt results.
- Integrating the $1.7 billion Dowlais deal. The Dowlais deal closed February 3, 2026. Combining the businesses may cost more and save less than planned. It could also bring unexpected liabilities and contracts with clauses triggered by the ownership change.
- Dependence on one plant complex in Mexico. A large share of sales, profit and cash flow comes from the Guanajuato Manufacturing Complex in Mexico. Tariffs, the expected 2026 review of the US-Mexico-Canada trade agreement, or peso swings could disrupt it.
- A heavy debt load. Total debt was about $5.0 billion, against $881 million of cash, as of June 30, 2026. Breaking loan conditions, known as covenants, or weaker cash flow could strain the company's finances.
- Electric-vehicle shift and Chinese automakers. Dauch's core business still centers on parts for gas-powered trucks and SUVs. A faster or slower move to electric vehicles than expected, or the rise of Chinese automakers, could hurt demand for its products.
- Thin margins squeezed by customers and costs. Automakers keep pressing suppliers to cut prices, while steel, aluminum and energy costs can rise. Operating profit was just 1.9% of 2025 sales, and the company posted a $19.7 million net loss.
Recent events
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Quarterly results released; Investor presentation or announcement
- Executive or board change
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Executive or board change; Other company announcement
- Other company announcement
For income and retirement investors
Dauch Corp pays no dividend: it paid none from 2021 through 2025, and the yield was 0% as of October 28, 2026. An income investor would get no cash payouts and would rely on share-price gains. Buybacks (repurchases of its own shares) were small, totaling $26.5 million over 2021–2025. The company also issued about 117 million new shares to acquire Dowlais, which shrank existing holders' ownership stake. Free cash flow (cash from operations minus capital spending) stayed positive from 2020 through 2025, at $155.1 million in 2025, but the company posted a $19.7 million net loss that year.
Price history under the DCH ticker covers less than a year, so this page can't show how the shares held up in the 2008, 2020 or 2022 downturns. Over that stretch, the stock swung widely: it was down 40.3% for 2026 through October 28, and its deepest fall from a peak was 46.5%. Single stocks carry more risk than diversified funds.
Questions investors ask
Is Dauch Corp the same company as American Axle?
Yes. American Axle & Manufacturing Holdings changed its name to Dauch Corporation effective January 26, 2026, and its stock trades under the symbol DCH. Shortly afterward, on February 3, 2026, it completed its roughly $1.7 billion acquisition of Dowlais Group plc, the owner of GKN Automotive and GKN Powder Metallurgy. The combined company has its headquarters in Detroit, and its shares are listed on two exchanges, including the NYSE.
How does Dauch Corp make money?
Dauch makes money by supplying driveline parts and forged metal components to automakers. In 2025 the Driveline segment, which includes axles and all-wheel drive systems, brought in $4.06 billion, or 69.5% of sales. Metal Forming brought in $1.78 billion, or 30.5%. General Motors alone made up about 44% of 2025 net sales, with Ford at 15% and Stellantis at 13%. The Dowlais acquisition, completed February 3, 2026, added products such as sideshafts.
Does Dauch Corp pay a dividend?
No. Dauch paid no dividends from 2021 through 2025, and its dividend yield was 0% as of October 28, 2026. Share buybacks were also small, totaling $26.5 million over 2021–2025. That means shareholders rely entirely on changes in the share price for their return. For investors who want regular cash income from a holding, that is a key difference from dividend-paying stocks or income-focused funds.
How much debt does Dauch Corp have?
Dauch had about $5.0 billion of total debt and $881 million of cash and investments as of June 30, 2026, leaving net debt (debt minus cash) of about $4.1 billion. Shareholders' equity (assets minus liabilities) was about $1.5 billion on the same date. The company's market value was about $1.2 billion as of October 28, 2026. Its annual report lists its substantial debt, and the chance of breaking covenants (conditions attached to its loans), among the risks facing the business.
Does Dauch Corp make parts for electric vehicles?
Yes, though parts for gas-powered vehicles are still its core business. Dauch's electric drive lineup includes e-Beam axles, which build a gearbox and an inverter (the electronics that control the motor) into the axle. In 2025 it won a contract to supply front electric drives and rear electric beam axles for Scout Motors' Traveler SUV and Terra truck, with production expected to begin in 2027. Its annual report also flags uncertainty over how quickly the industry moves from gas engines to electric vehicles.