Deep Value: cash covers more than 100% of the stock price

This company holds roughly $1.8B in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Dauch

DCH

Auto - Parts · Consumer Cyclical

Also trades as: DCH.L

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Weak

Stability

Strong

Valuation

Data not available

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Winston Score History

The full picture

Dauch Corporation (also known as American Axle & Manufacturing, or AAM) makes metal parts that go inside cars and trucks — things like axles, driveshafts, and other components that transfer power from the engine to the wheels. Its main customers are large automakers, including General Motors, which has historically accounted for a significant share of its revenue. The company operates in the auto parts industry, supplying both traditional internal combustion and electric vehicle platforms.

Dauch earns money by selling these manufactured components directly to automakers under long-term supply contracts, which provide some revenue stability but also lock in pricing. It operates plants across North America, Asia, and Europe, making it a mid-sized global supplier with roughly $0.8 billion in market capitalization. The thin margins — under 10% gross and 3% operating — highlight the key risk: auto parts manufacturing is a low-margin, capital-intensive business highly exposed to automaker production volumes and any slowdown in vehicle demand.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+92.4% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-100.0% YoY

YoY Growth Rate

Earnings declining

Insider Activity

9.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$1.8B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Dauch grew revenue 92% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

11.4%

Thin — 11.4% gross margin

Profit after running costs

Operating Margin

3.4%

Thin — 3.4% operating margin

Return on the money invested

ROCE

14.8%

Good — 14.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+41.0%

Fast-growing sales (+41.0% YoY)

Profit growth

EPS YoY

-498.7%

Earnings shrinking (-498.7% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-0.3%

Burning cash (-0.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.11

Conservative — low debt load (0.11)

Covers its interest

Interest Cover

2.18x

Tight — interest eats into profit (2.2x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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