Thank you as always
DAN provides energy management solutions for vehicles and machinery and is now trading at 12.9x times' Forward P/E. The company’s growth accelerated in recent years to around double-digit rates, mainly driven organically through reinvestment (one large acquisition in 2019). The balance sheet is leveraged, with net debt of $3.3B and net debt/EBITDA of 3.1x. The company pays a dividend, which was covered well by cash from operations (although it did cut dividends in 2020 due to the pandemic). Overall, an okay name, but the leverage and small size. We would prefer MG, which is far larger, cheaper and in better financial shape, or LEA, also much cheaper with faster growth expected.