Short answer
Dauch Corp (DCH) filed its fiscal 2025 10-K annual report with the SEC on Feb 13, 2026. It reported revenue of $5.8B (−4.7% year over year) and net income of −$20M.
- Top risk flagged: Legal risk from 2026 USMCA review impacting Guanajuato Manufacturing Complex operations, including tariffs and customs compliance
FY2025 key financial metrics · XBRL
- Revenue
- $5.8B
- −4.7% YoY
- Net income
- −$20M
- −156.3% YoY
- Operating margin
- 1.9%
- −2.0 pp YoY
- Gross margin
- 12.1%
- −0.0 pp YoY
- EPS (diluted)
- −$0.17
- −158.6% YoY
- ROE
- -3.1%
- −9.3 pp YoY
- Operating cash flow
- $412M
- −9.6% YoY
Source: XBRL data from the Dauch Corp (DCH) FY2025 10-K on SEC EDGAR. USD.
Dauch Corp FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Global driveline and metal forming supplier for automotive powertrains, supporting electric, hybrid, and internal combustion vehicles
- 2026 acquisition of Dowlais Group plc for $1.7 billion expands product portfolio with sideshafts and enhances size and scale
- Strategic pivot to diversify customer base and product mix, adding new contracts with Scout Motors, Audi, Volkswagen, FAW Group, and Phoebus
- Employee count increased to approximately 18,000 prior to merger; global footprint spans 24 countries with 175+ locations
- Achieved 69% reduction in total recordable incident rate since 2015, with TRIR at 0.66 in 2025, emphasizing safety culture advancement
Management Discussion & Analysis
- Revenue $5.84B in 2025, down 4.7% YoY from $6.12B in 2024, driven by lower production and $57M sale of India operations
- Operating income $112.3M, operating margin 1.9% in 2025 vs $241.4M, 3.9% margin in 2024 reflecting restructuring and lower volumes
- Driveline segment top performer: $4.06B sales, $563.2M adjusted EBITDA in 2025; Metal Forming weakest: $1.78B sales, $180.0M adjusted EBITDA
- Operating cash flow $411.6M in 2025 vs $455.4M in 2024; capital expenditures $256.5M; $780M cash paid for Dowlais acquisition in 2026
- 2026 outlook: $100-$140M restructuring charges, $60-$70M acquisition costs, $100-$125M integration expenses; interest expense $340-$360M expected
Risk Factors
- Legal risk from 2026 USMCA review impacting Guanajuato Manufacturing Complex operations, including tariffs and customs compliance
- Geopolitical exposure due to reliance on Mexican manufacturing subject to US dollar–peso exchange fluctuations and trade agreements
- Supply chain vulnerability from dependence on limited suppliers for critical components and local unproven suppliers risking shortages
- Competitive pressure from Chinese OEMs expanding globally, intensifying cost, feature, and innovation competition in emerging EV markets
- Financial risk from $5.4B total indebtedness post-Business Combination with covenant breach risk on leverage and interest coverage ratios
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