Danaos Corporation (DAC) 10-Year Financial Performance & Capital Metrics

DAC • • Industrial / General

IndustrialsMarine ShippingContainer ShippingContainer Ship Operators

AboutDanaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of February 28, 2022, it had a fleet of 71 containerships aggregating 436,589 twenty-foot equivalent units in capacity. The company was formerly known as Danaos Holdings Limited and changed its name to Danaos Corporation in October 2005. Danaos Corporation was founded in 1963 and is based in Piraeus, Greece.Show more

Revenue $1.01B +4.2%
EBITDA $685M -0.6%
Net Income $505M -12.4%
EPS (Diluted) 26.05 -10.0%
Gross Margin 60.74% -7.8%
EBITDA Margin 67.52% -4.6%
Operating Margin 53.34% -10.6%
Net Margin 49.8% -15.9%
ROE 15.68% -24.1%
ROIC 11.84% -18.9%
Debt/Equity 0.21 +60.1%
Interest Coverage 18.16 -36.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 20.1%
✓Strong 5Y profit CAGR of 54.7%
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 17.8%
✓Healthy dividend yield of 3.2%
✓Share count reduced 2.6% through buybacks

✗Weaknesses

✗Negative free cash flow
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.27%

5Y17.79%

3Y13.72%

TTM2.9%

Profit (Net Income) CAGR

10Y-

5Y54.69%

3Y-21.72%

TTM-17.26%

EPS CAGR

10Y-

5Y49.23%

3Y-20.14%

TTM-13.46%

ROCE

10Y Avg10.8%

5Y Avg14.44%

3Y Avg17.23%

Latest14.11%

Peer Comparison

Container Ship Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MATXMatson, Inc.	4.55B	145.97	10.48	10.57%	12.7%	15.98%	10.06%	0.28
CMRECostamare Inc.	1.95B	16.18	6.63	37.88%	17.4%	15.08%	13.2%	0.92
EHLDEuroholdings Ltd.	19.49M	6.92	5.16	112.37%	122.75%	81.86%	24.39%
DACDanaos Corporation	1.86B	101.42	3.89	4.16%	45.16%	12.59%		0.21
GSLGlobal Ship Lease, Inc.	1.29B	36.11	3.72	5.82%	54.16%	23.67%	14.53%	0.47
ESEAEuroseas Ltd.	386.41M	55.15	3.40	12.43%	54.01%	28.23%		0.57
ZIMZIM Integrated Shipping Services Ltd.	2.73B	22.70	1.27	63.25%	13.21%	24.94%	100%	1.49

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	567.94M	498.33M	451.73M	458.73M	447.24M	461.59M	689.5M	993.34M	973.58M	1.01B
Revenue Growth %	0.03%	-0.12%	-0.09%	0.02%	-0.03%	0.03%	0.49%	0.44%	-0.02%	0.04%
Cost of Goods Sold+	256.8M	252.35M	234.81M	224.57M	210.6M	226.74M	277.11M	328.39M	332.41M	398.17M
COGS % of Revenue	0.45%	0.51%	0.52%	0.49%	0.47%	0.49%	0.4%	0.33%	0.34%	0.39%
Gross Profit+	311.13M	245.98M	216.92M	234.16M	236.64M	234.85M	412.39M	664.96M	641.17M	615.94M
Gross Margin %	0.55%	0.49%	0.48%	0.51%	0.53%	0.51%	0.6%	0.67%	0.66%	0.61%
Gross Profit Growth %	0.08%	-0.21%	-0.12%	0.08%	0.01%	-0.01%	0.76%	0.61%	-0.04%	-0.04%
Operating Expenses+	25.68M	27.63M	29.42M	35.57M	35.57M	35.37M	54.13M	11.52M	60.51M	75.06M
OpEx % of Revenue	0.05%	0.06%	0.07%	0.08%	0.08%	0.08%	0.08%	0.01%	0.06%	0.07%
Selling, General & Admin	25.68M	27.63M	29.42M	35.57M	35.57M	24.34M	43.95M	36.58M	43.48M	54.23M
SG&A % of Revenue	0.05%	0.06%	0.07%	0.08%	0.08%	0.05%	0.06%	0.04%	0.04%	0.05%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	111K	0	0	0	0	11.03M	10.18M	-25.05M	17.02M	20.83M
Operating Income+	244.38M	-212.64M	187.5M	-12.12M	201.07M	199.48M	358.26M	653.44M	580.66M	540.88M
Operating Margin %	0.43%	-0.43%	0.42%	-0.03%	0.45%	0.43%	0.52%	0.66%	0.6%	0.53%
Operating Income Growth %	0.27%	-1.87%	1.88%	-1.06%	17.59%	-0.01%	0.8%	0.82%	-0.11%	-0.07%
EBITDA+	376.16M	-78.07M	309.47M	104.87M	306.31M	301.01M	447.56M	731.01M	688.73M	684.69M
EBITDA Margin %	0.66%	-0.16%	0.69%	0.23%	0.68%	0.65%	0.65%	0.74%	0.71%	0.68%
EBITDA Growth %	0.14%	-1.21%	4.96%	-0.66%	1.92%	-0.02%	0.49%	0.63%	-0.06%	-0.01%
D&A (Non-Cash Add-back)	131.78M	134.57M	121.98M	116.99M	105.24M	101.53M	89.3M	77.57M	108.06M	143.81M
EBIT	201.45M	-244.96M	174.12M	52.77M	204.42M	207.05M	1.13B	639.6M	596.76M	531.26M
Net Interest Income+	-141.83M	-100.3M	-85.6M	-82.95M	-68.36M	-49.2M	-56.76M	-57.55M	-8.33M	-16.89M
Interest Income	3.42M	4.68M	5.58M	5.78M	6.41M	6.64M	12.23M	4.59M	12.13M	12.89M
Interest Expense	145.25M	104.98M	91.18M	88.73M	74.77M	55.84M	68.99M	62.14M	20.46M	29.78M
Other Income/Expense	-127.36M	-153.55M	-103.59M	-20.81M	-69.82M	-45.93M	700.47M	-75.98M	-4.36M	-35.81M
Pretax Income+	117.02M	-366.19M	83.91M	-32.94M	131.25M	153.55M	1.06B	577.46M	576.3M	505.07M
Pretax Margin %	0.21%	-0.73%	0.19%	-0.07%	0.29%	0.33%	1.54%	0.58%	0.59%	0.5%
Income Tax+	0	0	0	0	0	0	5.89M	18.25M	0	0
Effective Tax Rate %	1%	1%	1%	1%	0.43%	1%	0.99%	0.97%	1%	1%
Net Income+	117.02M	-366.19M	83.91M	-32.94M	57.03M	153.55M	1.05B	559.21M	576.3M	505.07M
Net Margin %	0.21%	-0.73%	0.19%	-0.07%	0.13%	0.33%	1.53%	0.56%	0.59%	0.5%
Net Income Growth %	30.85%	-4.13%	1.23%	-1.39%	2.73%	1.69%	5.86%	-0.47%	0.03%	-0.12%
Net Income (Continuing)	117.02M	-366.19M	83.91M	-32.94M	131.25M	153.55M	1.05B	559.21M	576.3M	505.07M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	14.98	-46.69	10.70	-3.10	3.52	3.91	51.15	27.28	28.95	26.05
EPS Growth %	30.96%	-4.12%	1.23%	-1.29%	2.14%	0.11%	12.08%	-0.47%	0.06%	-0.1%
EPS (Basic)	14.98	-46.69	10.70	-3.10	3.60	3.95	51.75	27.30	28.99	26.15
Diluted Shares Outstanding	7.84M	7.84M	7.84M	10.62M	16.22M	23.81M	20.58M	20.5M	19.9M	19.39M
Basic Shares Outstanding	7.84M	7.84M	7.84M	10.62M	15.83M	23.59M	20.35M	20.48M	19.88M	19.32M
Dividend Payout Ratio	-	-	-	-	-	-	0.03%	0.11%	0.11%	0.12%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	127.57M	135.95M	126M	119.75M	190.39M	118.45M	632.49M	372.52M	501.77M	670.97M
Cash & Short-Term Investments	72.25M	73.72M	66.89M	77.28M	139.17M	65.66M	552.43M	267.67M	357.84M	514.23M
Cash Only	72.25M	73.72M	66.89M	77.28M	139.17M	65.66M	129.41M	267.67M	271.81M	453.38M
Short-Term Investments	0	0	0	0	0	0	423.02M	0	86.03M	60.85M
Accounts Receivable	11.61M	40.63M	40.51M	9.22M	7.14M	27.98M	37.91M	54.81M	73.39M	92.54M
Days Sales Outstanding	7.46	29.76	32.73	7.34	5.83	22.13	20.07	20.14	27.51	33.31
Inventory	11.04M	11.39M	8.84M	8.88M	8.49M	9.62M	12.58M	16.1M	24.51M	23.88M
Days Inventory Outstanding	15.69	16.48	13.74	14.44	14.72	15.48	16.57	17.89	26.91	21.89
Other Current Assets	32.41M	8.86M	5.71M	5.18M	13.61M	14.33M	27.54M	32.64M	44.12M	38.41M
Total Non-Current Assets+	3.57B	2.99B	2.86B	2.56B	2.49B	2.6B	2.99B	3.03B	3.16B	3.67B
Property, Plant & Equipment	3.45B	2.91B	2.8B	2.48B	2.39B	2.48B	2.94B	2.91B	3.05B	3.56B
Fixed Asset Turnover	0.16x	0.17x	0.16x	0.18x	0.19x	0.19x	0.23x	0.34x	0.32x	0.29x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	39.98M	30.68M	40.6M	36.25M	40.42M	78.23M	0	0	270K	0
Other Non-Current Assets	83.23M	53.7M	23.83M	43.51M	62.34M	37.76M	53.54M	115.48M	110.64M	116.54M
Total Assets+	3.7B	3.13B	2.99B	2.68B	2.68B	2.71B	3.63B	3.4B	3.66B	4.34B
Asset Turnover	0.15x	0.16x	0.15x	0.17x	0.17x	0.17x	0.19x	0.29x	0.27x	0.23x
Asset Growth %	-0.04%	-0.15%	-0.04%	-0.1%	0%	0.01%	0.34%	-0.06%	0.08%	0.19%
Total Current Liabilities+	312.14M	2.57B	2.38B	222.7M	223.08M	239.69M	319.31M	228.41M	168.16M	168.95M
Accounts Payable	12.97M	11.16M	11.37M	10.48M	11.17M	10.61M	18.93M	24.5M	22.82M	29.04M
Days Payables Outstanding	18.44	16.14	17.68	17.03	19.36	17.08	24.93	27.24	25.06	26.62
Short-Term Debt	269.98M	2.5B	2.33B	113.78M	119.67M	155.66M	95.75M	54.97M	21.3M	35.22M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	18.18M	21.44M	15.09M	77.77M	57.13M	28.41M	8.64M	10.18M	39.76M	31.39M
Current Ratio	0.41x	0.05x	0.05x	0.54x	0.85x	0.49x	1.98x	1.63x	2.98x	3.97x
Quick Ratio	0.37x	0.05x	0.05x	0.50x	0.82x	0.45x	1.94x	1.56x	2.84x	3.83x
Cash Conversion Cycle	4.71	30.11	28.8	4.75	1.2	20.53	11.71	10.79	29.37	28.58
Total Non-Current Liabilities+	2.54B	73.07M	57.85M	1.77B	1.58B	1.44B	1.22B	611.41M	476.66M	749.9M
Long-Term Debt	2.47B	0	0	1.51B	1.27B	1.19B	1.02B	402.44M	382.87M	699.56M
Capital Lease Obligations	0	0	0	-200.57M	121.87M	95.58M	136.51M	44.54M	0	0
Deferred Tax Liabilities	0	0	0	200.57M	156.58M	136.43M	0	0	0	0
Other Non-Current Liabilities	48.2M	2.48M	1.69M	15.88M	603K	181K	27.39M	52.86M	33.65M	27.44M
Total Liabilities	2.86B	2.64B	2.44B	1.99B	1.8B	1.68B	1.54B	839.81M	644.82M	918.85M
Total Debt+	2.78B	2.5B	2.33B	1.62B	1.53B	1.46B	1.34B	529.42M	404.17M	734.78M
Net Debt	2.7B	2.43B	2.26B	1.54B	1.39B	1.4B	1.21B	261.75M	132.37M	281.4M
Debt / Equity	3.30x	5.14x	4.25x	2.35x	1.73x	1.41x	0.64x	0.21x	0.13x	0.21x
Debt / EBITDA	7.38x	-	7.53x	15.47x	4.99x	4.86x	2.99x	0.72x	0.59x	1.07x
Net Debt / EBITDA	7.19x	-	7.31x	14.73x	4.54x	4.64x	2.70x	0.36x	0.19x	0.41x
Interest Coverage	1.68x	-2.03x	2.06x	-0.14x	2.69x	3.57x	5.19x	10.52x	28.38x	18.16x
Total Equity+	841.91M	487.71M	548.71M	690.85M	881.69M	1.04B	2.09B	2.56B	3.02B	3.42B
Equity Growth %	0.22%	-0.42%	0.13%	0.26%	0.28%	0.17%	1.02%	0.23%	0.18%	0.14%
Book Value per Share	107.36	62.18	69.95	65.03	54.36	43.50	101.44	124.89	151.55	176.67
Total Shareholders' Equity	841.91M	487.71M	548.71M	690.85M	881.69M	1.04B	2.09B	2.56B	3.02B	3.42B
Common Stock	1.1M	1.1M	1.1M	2.13M	248K	204K	207K	203K	194K	190K
Retained Earnings	397.07M	30.88M	114.78M	81.85M	213.1M	366.65M	1.39B	1.89B	2.4B	2.84B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-103.08M	-91.16M	-114.08M	-118.71M	-116.93M	-86.67M	-71.45M	-74.21M	-75.98M	-70.43M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	271.68M	261.97M	181.07M	164.69M	219.88M	265.68M	428.11M	934.74M	576.29M	621.75M
Operating CF Margin %	0.48%	0.53%	0.4%	0.36%	0.49%	0.58%	0.62%	0.94%	0.59%	0.61%
Operating CF Growth %	0.41%	-0.04%	-0.31%	-0.09%	0.34%	0.21%	0.61%	1.18%	-0.38%	0.08%
Net Income	117.02M	-366.19M	83.91M	-32.94M	131.25M	153.55M	1.05B	559.21M	576.3M	505.07M
Depreciation & Amortization	131.78M	129.04M	115.23M	107.76M	96.5M	101.53M	89.3M	77.57M	108.06M	143.81M
Stock-Based Compensation	88K	76K	0	1.01M	4.24M	1.2M	15.28M	5.97M	12.68M	14.56M
Deferred Taxes	34.39M	500.06M	0	100.18M	2.58M	-2.15M	-719.53M	0	0	0
Other Non-Cash Items	15.54M	9.2M	18.64M	12.32M	21.82M	14.37M	22.18M	140.03M	-18.28M	4.45M
Working Capital Changes	-27.14M	-10.22M	-36.7M	-23.64M	-36.51M	-2.82M	-31.96M	151.96M	-102.47M	-46.14M
Change in Receivables	-2.75M	-13.21M	-2.54M	-2.72M	2.08M	-411K	786K	1.48M	-21.73M	-6.54M
Change in Inventory	625K	-355K	2.55M	-43K	390K	-1.13M	-2.07M	-3.52M	-8.41M	630K
Change in Payables	-971K	-383K	215K	-894K	114K	-181K	4.52M	5.58M	-390K	7.06M
Cash from Investing+	-13.29M	-9.38M	1.76M	-8.25M	-21.36M	-170.74M	-143.15M	176.57M	-338.53M	-650.79M
Capital Expenditures	-1.11M	-4.56M	-4.48M	-8.25M	-21.36M	-170.66M	-355.72M	-199.13M	-268.04M	-659.34M
CapEx % of Revenue	0%	0.01%	0.01%	0.02%	0.05%	0.37%	0.52%	0.2%	0.28%	0.65%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.05M	5.18M	6.24M	0	0	-75K	16.22M	375.71M	3.91M	10.2M
Cash from Financing+	-243.86M	-251.12M	-189.65M	-148.87M	-136.62M	-168.45M	-220.87M	-973.4M	-233.62M	210.61M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	-30.89M	-61.48M	-60.7M	-62.81M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-686K	0	0	-33.73M	-12.27M	-45.6M	-32.77M	-19.62M	-1.89M	-7.28M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	270.56M	257.41M	176.59M	156.44M	198.52M	95.02M	72.39M	735.61M	308.26M	-37.59M
FCF Margin %	0.48%	0.52%	0.39%	0.34%	0.44%	0.21%	0.1%	0.74%	0.32%	-0.04%
FCF Growth %	0.77%	-0.05%	-0.31%	-0.11%	0.27%	-0.52%	-0.24%	9.16%	-0.58%	-1.12%
FCF per Share	34.50	32.82	22.51	14.73	12.24	3.99	3.52	35.88	15.49	-1.94
FCF Conversion (FCF/Net Income)	2.32x	-0.72x	2.16x	-5.00x	3.86x	1.73x	0.41x	1.67x	1.00x	1.23x
Interest Paid	0	0	0	0	0	0	0	0	0	21.57M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	15.3%	-55.08%	16.19%	-5.31%	7.25%	16.02%	67.41%	24.06%	20.67%	15.68%
Return on Invested Capital (ROIC)	5.1%	-4.93%	4.91%	-0.36%	6.69%	6.36%	9.38%	16.02%	14.59%	11.84%
Gross Margin	54.78%	49.36%	48.02%	51.05%	52.91%	50.88%	59.81%	66.94%	65.86%	60.74%
Net Margin	20.6%	-73.48%	18.57%	-7.18%	12.75%	33.27%	152.7%	56.3%	59.19%	49.8%
Debt / Equity	3.30x	5.14x	4.25x	2.35x	1.73x	1.41x	0.64x	0.21x	0.13x	0.21x
Interest Coverage	1.68x	-2.03x	2.06x	-0.14x	2.69x	3.57x	5.19x	10.52x	28.38x	18.16x
FCF Conversion	2.32x	-0.72x	2.16x	-5.00x	3.86x	1.73x	0.41x	1.67x	1.00x	1.23x
Revenue Growth	2.87%	-12.26%	-9.35%	1.55%	-2.5%	3.21%	49.37%	44.07%	-1.99%	4.16%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Australia-Asia	-	-	-	-	-	-	323.17M	482.77M	519.76M	532.8M
Australia-Asia Growth	-	-	-	-	-	-	-	49.38%	7.66%	2.51%
Europe	157.11M	153.93M	165.64M	196.88M	211.31M	242.7M	338.12M	507.29M	453.82M	481.31M
Europe Growth	-	-2.02%	7.61%	18.86%	7.33%	14.86%	39.32%	50.03%	-10.54%	6.06%
America	-	-	-	-	-	-	28.21M	3.28M	-	-
America Growth	-	-	-	-	-	-	-	-88.37%	-	-
Asia Pacific	410.83M	344.4M	284.3M	255.48M	222.33M	203.99M	-	-	-	-
Asia Pacific Growth	-	-16.17%	-17.45%	-10.14%	-12.97%	-8.25%	-	-	-	-
Americas	-	-	1.79M	6.38M	13.6M	14.9M	-	-	-	-
Americas Growth	-	-	-	256.20%	113.36%	9.52%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Danaos Corporation (DAC) has a price-to-earnings (P/E) ratio of 3.9x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Danaos Corporation (DAC) reported $1.03B in revenue for fiscal year 2024. This represents a 121% increase from $468.1M in 2011.

Danaos Corporation (DAC) grew revenue by 4.2% over the past year. Growth has been modest.

Yes, Danaos Corporation (DAC) is profitable, generating $467.1M in net income for fiscal year 2024 (49.8% net margin).

Dividend & Returns

Yes, Danaos Corporation (DAC) pays a dividend with a yield of 3.19%. This makes it attractive for income-focused investors.

Danaos Corporation (DAC) has a return on equity (ROE) of 15.7%. This is reasonable for most industries.

Danaos Corporation (DAC) generated $353.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Danaos Corporation (DAC) 10-Year Financial Performance & Capital Metrics

DAC • • Industrial / General

IndustrialsMarine ShippingContainer ShippingContainer Ship Operators

Revenue $1.01B +4.2%
EBITDA $685M -0.6%
Net Income $505M -12.4%
EPS (Diluted) 26.05 -10.0%
Gross Margin 60.74% -7.8%
EBITDA Margin 67.52% -4.6%
Operating Margin 53.34% -10.6%
Net Margin 49.8% -15.9%
ROE 15.68% -24.1%
ROIC 11.84% -18.9%
Debt/Equity 0.21 +60.1%
Interest Coverage 18.16 -36.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 20.1%
✓Strong 5Y profit CAGR of 54.7%
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 17.8%
✓Healthy dividend yield of 3.2%
✓Share count reduced 2.6% through buybacks

✗Weaknesses

✗Negative free cash flow
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.27%

5Y17.79%

3Y13.72%

TTM2.9%

Profit (Net Income) CAGR

10Y-

5Y54.69%

3Y-21.72%

TTM-17.26%

EPS CAGR

10Y-

5Y49.23%

3Y-20.14%

TTM-13.46%

ROCE

10Y Avg10.8%

5Y Avg14.44%

3Y Avg17.23%

Latest14.11%

Peer Comparison

Container Ship Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MATXMatson, Inc.	4.55B	145.97	10.48	10.57%	12.7%	15.98%	10.06%	0.28
CMRECostamare Inc.	1.95B	16.18	6.63	37.88%	17.4%	15.08%	13.2%	0.92
EHLDEuroholdings Ltd.	19.49M	6.92	5.16	112.37%	122.75%	81.86%	24.39%
DACDanaos Corporation	1.86B	101.42	3.89	4.16%	45.16%	12.59%		0.21
GSLGlobal Ship Lease, Inc.	1.29B	36.11	3.72	5.82%	54.16%	23.67%	14.53%	0.47
ESEAEuroseas Ltd.	386.41M	55.15	3.40	12.43%	54.01%	28.23%		0.57
ZIMZIM Integrated Shipping Services Ltd.	2.73B	22.70	1.27	63.25%	13.21%	24.94%	100%	1.49

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	567.94M	498.33M	451.73M	458.73M	447.24M	461.59M	689.5M	993.34M	973.58M	1.01B
Revenue Growth %	0.03%	-0.12%	-0.09%	0.02%	-0.03%	0.03%	0.49%	0.44%	-0.02%	0.04%
Cost of Goods Sold+	256.8M	252.35M	234.81M	224.57M	210.6M	226.74M	277.11M	328.39M	332.41M	398.17M
COGS % of Revenue	0.45%	0.51%	0.52%	0.49%	0.47%	0.49%	0.4%	0.33%	0.34%	0.39%
Gross Profit+	311.13M	245.98M	216.92M	234.16M	236.64M	234.85M	412.39M	664.96M	641.17M	615.94M
Gross Margin %	0.55%	0.49%	0.48%	0.51%	0.53%	0.51%	0.6%	0.67%	0.66%	0.61%
Gross Profit Growth %	0.08%	-0.21%	-0.12%	0.08%	0.01%	-0.01%	0.76%	0.61%	-0.04%	-0.04%
Operating Expenses+	25.68M	27.63M	29.42M	35.57M	35.57M	35.37M	54.13M	11.52M	60.51M	75.06M
OpEx % of Revenue	0.05%	0.06%	0.07%	0.08%	0.08%	0.08%	0.08%	0.01%	0.06%	0.07%
Selling, General & Admin	25.68M	27.63M	29.42M	35.57M	35.57M	24.34M	43.95M	36.58M	43.48M	54.23M
SG&A % of Revenue	0.05%	0.06%	0.07%	0.08%	0.08%	0.05%	0.06%	0.04%	0.04%	0.05%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	111K	0	0	0	0	11.03M	10.18M	-25.05M	17.02M	20.83M
Operating Income+	244.38M	-212.64M	187.5M	-12.12M	201.07M	199.48M	358.26M	653.44M	580.66M	540.88M
Operating Margin %	0.43%	-0.43%	0.42%	-0.03%	0.45%	0.43%	0.52%	0.66%	0.6%	0.53%
Operating Income Growth %	0.27%	-1.87%	1.88%	-1.06%	17.59%	-0.01%	0.8%	0.82%	-0.11%	-0.07%
EBITDA+	376.16M	-78.07M	309.47M	104.87M	306.31M	301.01M	447.56M	731.01M	688.73M	684.69M
EBITDA Margin %	0.66%	-0.16%	0.69%	0.23%	0.68%	0.65%	0.65%	0.74%	0.71%	0.68%
EBITDA Growth %	0.14%	-1.21%	4.96%	-0.66%	1.92%	-0.02%	0.49%	0.63%	-0.06%	-0.01%
D&A (Non-Cash Add-back)	131.78M	134.57M	121.98M	116.99M	105.24M	101.53M	89.3M	77.57M	108.06M	143.81M
EBIT	201.45M	-244.96M	174.12M	52.77M	204.42M	207.05M	1.13B	639.6M	596.76M	531.26M
Net Interest Income+	-141.83M	-100.3M	-85.6M	-82.95M	-68.36M	-49.2M	-56.76M	-57.55M	-8.33M	-16.89M
Interest Income	3.42M	4.68M	5.58M	5.78M	6.41M	6.64M	12.23M	4.59M	12.13M	12.89M
Interest Expense	145.25M	104.98M	91.18M	88.73M	74.77M	55.84M	68.99M	62.14M	20.46M	29.78M
Other Income/Expense	-127.36M	-153.55M	-103.59M	-20.81M	-69.82M	-45.93M	700.47M	-75.98M	-4.36M	-35.81M
Pretax Income+	117.02M	-366.19M	83.91M	-32.94M	131.25M	153.55M	1.06B	577.46M	576.3M	505.07M
Pretax Margin %	0.21%	-0.73%	0.19%	-0.07%	0.29%	0.33%	1.54%	0.58%	0.59%	0.5%
Income Tax+	0	0	0	0	0	0	5.89M	18.25M	0	0
Effective Tax Rate %	1%	1%	1%	1%	0.43%	1%	0.99%	0.97%	1%	1%
Net Income+	117.02M	-366.19M	83.91M	-32.94M	57.03M	153.55M	1.05B	559.21M	576.3M	505.07M
Net Margin %	0.21%	-0.73%	0.19%	-0.07%	0.13%	0.33%	1.53%	0.56%	0.59%	0.5%
Net Income Growth %	30.85%	-4.13%	1.23%	-1.39%	2.73%	1.69%	5.86%	-0.47%	0.03%	-0.12%
Net Income (Continuing)	117.02M	-366.19M	83.91M	-32.94M	131.25M	153.55M	1.05B	559.21M	576.3M	505.07M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	14.98	-46.69	10.70	-3.10	3.52	3.91	51.15	27.28	28.95	26.05
EPS Growth %	30.96%	-4.12%	1.23%	-1.29%	2.14%	0.11%	12.08%	-0.47%	0.06%	-0.1%
EPS (Basic)	14.98	-46.69	10.70	-3.10	3.60	3.95	51.75	27.30	28.99	26.15
Diluted Shares Outstanding	7.84M	7.84M	7.84M	10.62M	16.22M	23.81M	20.58M	20.5M	19.9M	19.39M
Basic Shares Outstanding	7.84M	7.84M	7.84M	10.62M	15.83M	23.59M	20.35M	20.48M	19.88M	19.32M
Dividend Payout Ratio	-	-	-	-	-	-	0.03%	0.11%	0.11%	0.12%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	127.57M	135.95M	126M	119.75M	190.39M	118.45M	632.49M	372.52M	501.77M	670.97M
Cash & Short-Term Investments	72.25M	73.72M	66.89M	77.28M	139.17M	65.66M	552.43M	267.67M	357.84M	514.23M
Cash Only	72.25M	73.72M	66.89M	77.28M	139.17M	65.66M	129.41M	267.67M	271.81M	453.38M
Short-Term Investments	0	0	0	0	0	0	423.02M	0	86.03M	60.85M
Accounts Receivable	11.61M	40.63M	40.51M	9.22M	7.14M	27.98M	37.91M	54.81M	73.39M	92.54M
Days Sales Outstanding	7.46	29.76	32.73	7.34	5.83	22.13	20.07	20.14	27.51	33.31
Inventory	11.04M	11.39M	8.84M	8.88M	8.49M	9.62M	12.58M	16.1M	24.51M	23.88M
Days Inventory Outstanding	15.69	16.48	13.74	14.44	14.72	15.48	16.57	17.89	26.91	21.89
Other Current Assets	32.41M	8.86M	5.71M	5.18M	13.61M	14.33M	27.54M	32.64M	44.12M	38.41M
Total Non-Current Assets+	3.57B	2.99B	2.86B	2.56B	2.49B	2.6B	2.99B	3.03B	3.16B	3.67B
Property, Plant & Equipment	3.45B	2.91B	2.8B	2.48B	2.39B	2.48B	2.94B	2.91B	3.05B	3.56B
Fixed Asset Turnover	0.16x	0.17x	0.16x	0.18x	0.19x	0.19x	0.23x	0.34x	0.32x	0.29x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	39.98M	30.68M	40.6M	36.25M	40.42M	78.23M	0	0	270K	0
Other Non-Current Assets	83.23M	53.7M	23.83M	43.51M	62.34M	37.76M	53.54M	115.48M	110.64M	116.54M
Total Assets+	3.7B	3.13B	2.99B	2.68B	2.68B	2.71B	3.63B	3.4B	3.66B	4.34B
Asset Turnover	0.15x	0.16x	0.15x	0.17x	0.17x	0.17x	0.19x	0.29x	0.27x	0.23x
Asset Growth %	-0.04%	-0.15%	-0.04%	-0.1%	0%	0.01%	0.34%	-0.06%	0.08%	0.19%
Total Current Liabilities+	312.14M	2.57B	2.38B	222.7M	223.08M	239.69M	319.31M	228.41M	168.16M	168.95M
Accounts Payable	12.97M	11.16M	11.37M	10.48M	11.17M	10.61M	18.93M	24.5M	22.82M	29.04M
Days Payables Outstanding	18.44	16.14	17.68	17.03	19.36	17.08	24.93	27.24	25.06	26.62
Short-Term Debt	269.98M	2.5B	2.33B	113.78M	119.67M	155.66M	95.75M	54.97M	21.3M	35.22M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	18.18M	21.44M	15.09M	77.77M	57.13M	28.41M	8.64M	10.18M	39.76M	31.39M
Current Ratio	0.41x	0.05x	0.05x	0.54x	0.85x	0.49x	1.98x	1.63x	2.98x	3.97x
Quick Ratio	0.37x	0.05x	0.05x	0.50x	0.82x	0.45x	1.94x	1.56x	2.84x	3.83x
Cash Conversion Cycle	4.71	30.11	28.8	4.75	1.2	20.53	11.71	10.79	29.37	28.58
Total Non-Current Liabilities+	2.54B	73.07M	57.85M	1.77B	1.58B	1.44B	1.22B	611.41M	476.66M	749.9M
Long-Term Debt	2.47B	0	0	1.51B	1.27B	1.19B	1.02B	402.44M	382.87M	699.56M
Capital Lease Obligations	0	0	0	-200.57M	121.87M	95.58M	136.51M	44.54M	0	0
Deferred Tax Liabilities	0	0	0	200.57M	156.58M	136.43M	0	0	0	0
Other Non-Current Liabilities	48.2M	2.48M	1.69M	15.88M	603K	181K	27.39M	52.86M	33.65M	27.44M
Total Liabilities	2.86B	2.64B	2.44B	1.99B	1.8B	1.68B	1.54B	839.81M	644.82M	918.85M
Total Debt+	2.78B	2.5B	2.33B	1.62B	1.53B	1.46B	1.34B	529.42M	404.17M	734.78M
Net Debt	2.7B	2.43B	2.26B	1.54B	1.39B	1.4B	1.21B	261.75M	132.37M	281.4M
Debt / Equity	3.30x	5.14x	4.25x	2.35x	1.73x	1.41x	0.64x	0.21x	0.13x	0.21x
Debt / EBITDA	7.38x	-	7.53x	15.47x	4.99x	4.86x	2.99x	0.72x	0.59x	1.07x
Net Debt / EBITDA	7.19x	-	7.31x	14.73x	4.54x	4.64x	2.70x	0.36x	0.19x	0.41x
Interest Coverage	1.68x	-2.03x	2.06x	-0.14x	2.69x	3.57x	5.19x	10.52x	28.38x	18.16x
Total Equity+	841.91M	487.71M	548.71M	690.85M	881.69M	1.04B	2.09B	2.56B	3.02B	3.42B
Equity Growth %	0.22%	-0.42%	0.13%	0.26%	0.28%	0.17%	1.02%	0.23%	0.18%	0.14%
Book Value per Share	107.36	62.18	69.95	65.03	54.36	43.50	101.44	124.89	151.55	176.67
Total Shareholders' Equity	841.91M	487.71M	548.71M	690.85M	881.69M	1.04B	2.09B	2.56B	3.02B	3.42B
Common Stock	1.1M	1.1M	1.1M	2.13M	248K	204K	207K	203K	194K	190K
Retained Earnings	397.07M	30.88M	114.78M	81.85M	213.1M	366.65M	1.39B	1.89B	2.4B	2.84B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-103.08M	-91.16M	-114.08M	-118.71M	-116.93M	-86.67M	-71.45M	-74.21M	-75.98M	-70.43M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	271.68M	261.97M	181.07M	164.69M	219.88M	265.68M	428.11M	934.74M	576.29M	621.75M
Operating CF Margin %	0.48%	0.53%	0.4%	0.36%	0.49%	0.58%	0.62%	0.94%	0.59%	0.61%
Operating CF Growth %	0.41%	-0.04%	-0.31%	-0.09%	0.34%	0.21%	0.61%	1.18%	-0.38%	0.08%
Net Income	117.02M	-366.19M	83.91M	-32.94M	131.25M	153.55M	1.05B	559.21M	576.3M	505.07M
Depreciation & Amortization	131.78M	129.04M	115.23M	107.76M	96.5M	101.53M	89.3M	77.57M	108.06M	143.81M
Stock-Based Compensation	88K	76K	0	1.01M	4.24M	1.2M	15.28M	5.97M	12.68M	14.56M
Deferred Taxes	34.39M	500.06M	0	100.18M	2.58M	-2.15M	-719.53M	0	0	0
Other Non-Cash Items	15.54M	9.2M	18.64M	12.32M	21.82M	14.37M	22.18M	140.03M	-18.28M	4.45M
Working Capital Changes	-27.14M	-10.22M	-36.7M	-23.64M	-36.51M	-2.82M	-31.96M	151.96M	-102.47M	-46.14M
Change in Receivables	-2.75M	-13.21M	-2.54M	-2.72M	2.08M	-411K	786K	1.48M	-21.73M	-6.54M
Change in Inventory	625K	-355K	2.55M	-43K	390K	-1.13M	-2.07M	-3.52M	-8.41M	630K
Change in Payables	-971K	-383K	215K	-894K	114K	-181K	4.52M	5.58M	-390K	7.06M
Cash from Investing+	-13.29M	-9.38M	1.76M	-8.25M	-21.36M	-170.74M	-143.15M	176.57M	-338.53M	-650.79M
Capital Expenditures	-1.11M	-4.56M	-4.48M	-8.25M	-21.36M	-170.66M	-355.72M	-199.13M	-268.04M	-659.34M
CapEx % of Revenue	0%	0.01%	0.01%	0.02%	0.05%	0.37%	0.52%	0.2%	0.28%	0.65%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.05M	5.18M	6.24M	0	0	-75K	16.22M	375.71M	3.91M	10.2M
Cash from Financing+	-243.86M	-251.12M	-189.65M	-148.87M	-136.62M	-168.45M	-220.87M	-973.4M	-233.62M	210.61M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	-30.89M	-61.48M	-60.7M	-62.81M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-686K	0	0	-33.73M	-12.27M	-45.6M	-32.77M	-19.62M	-1.89M	-7.28M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	270.56M	257.41M	176.59M	156.44M	198.52M	95.02M	72.39M	735.61M	308.26M	-37.59M
FCF Margin %	0.48%	0.52%	0.39%	0.34%	0.44%	0.21%	0.1%	0.74%	0.32%	-0.04%
FCF Growth %	0.77%	-0.05%	-0.31%	-0.11%	0.27%	-0.52%	-0.24%	9.16%	-0.58%	-1.12%
FCF per Share	34.50	32.82	22.51	14.73	12.24	3.99	3.52	35.88	15.49	-1.94
FCF Conversion (FCF/Net Income)	2.32x	-0.72x	2.16x	-5.00x	3.86x	1.73x	0.41x	1.67x	1.00x	1.23x
Interest Paid	0	0	0	0	0	0	0	0	0	21.57M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	15.3%	-55.08%	16.19%	-5.31%	7.25%	16.02%	67.41%	24.06%	20.67%	15.68%
Return on Invested Capital (ROIC)	5.1%	-4.93%	4.91%	-0.36%	6.69%	6.36%	9.38%	16.02%	14.59%	11.84%
Gross Margin	54.78%	49.36%	48.02%	51.05%	52.91%	50.88%	59.81%	66.94%	65.86%	60.74%
Net Margin	20.6%	-73.48%	18.57%	-7.18%	12.75%	33.27%	152.7%	56.3%	59.19%	49.8%
Debt / Equity	3.30x	5.14x	4.25x	2.35x	1.73x	1.41x	0.64x	0.21x	0.13x	0.21x
Interest Coverage	1.68x	-2.03x	2.06x	-0.14x	2.69x	3.57x	5.19x	10.52x	28.38x	18.16x
FCF Conversion	2.32x	-0.72x	2.16x	-5.00x	3.86x	1.73x	0.41x	1.67x	1.00x	1.23x
Revenue Growth	2.87%	-12.26%	-9.35%	1.55%	-2.5%	3.21%	49.37%	44.07%	-1.99%	4.16%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Australia-Asia	-	-	-	-	-	-	323.17M	482.77M	519.76M	532.8M
Australia-Asia Growth	-	-	-	-	-	-	-	49.38%	7.66%	2.51%
Europe	157.11M	153.93M	165.64M	196.88M	211.31M	242.7M	338.12M	507.29M	453.82M	481.31M
Europe Growth	-	-2.02%	7.61%	18.86%	7.33%	14.86%	39.32%	50.03%	-10.54%	6.06%
America	-	-	-	-	-	-	28.21M	3.28M	-	-
America Growth	-	-	-	-	-	-	-	-88.37%	-	-
Asia Pacific	410.83M	344.4M	284.3M	255.48M	222.33M	203.99M	-	-	-	-
Asia Pacific Growth	-	-16.17%	-17.45%	-10.14%	-12.97%	-8.25%	-	-	-	-
Americas	-	-	1.79M	6.38M	13.6M	14.9M	-	-	-	-
Americas Growth	-	-	-	256.20%	113.36%	9.52%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Danaos Corporation (DAC) has a price-to-earnings (P/E) ratio of 3.9x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Danaos Corporation (DAC) reported $1.03B in revenue for fiscal year 2024. This represents a 121% increase from $468.1M in 2011.

Danaos Corporation (DAC) grew revenue by 4.2% over the past year. Growth has been modest.

Yes, Danaos Corporation (DAC) is profitable, generating $467.1M in net income for fiscal year 2024 (49.8% net margin).

Dividend & Returns

Yes, Danaos Corporation (DAC) pays a dividend with a yield of 3.19%. This makes it attractive for income-focused investors.

Danaos Corporation (DAC) has a return on equity (ROE) of 15.7%. This is reasonable for most industries.

Danaos Corporation (DAC) generated $353.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.