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Danaos Corporation (DAC) USD

Danaos Corporation owns and operates containerships and drybulk vessels, providing seaborne transportation services in the shipping industry.

At a glance: strengths & risks
✓Profit growing (+16% y/y, Q2 2026)✓Net cash balance sheet✗Margins compressing (68%→64%, Q2 2026)✗Pricier than own history (EV/EBITDA 4.7 vs avg 2.5)

Sector: Freight & shipping

Geography: Global

COMM_DAC

Price chart

158.34 USDDay 0.34%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
158.34 USD · 0.34%
Market cap
2.9 bn USD

Growth

Δ revenue y/y
4.7%
Δ EBITDA y/y
-1.8%

Multiples

P/E (LTM)
5.4x
3y avg: 2.9x
P/B (FY)
0.8x
P/E (ann.)
4.8x
EV/EBITDA (LTM)
4.7x
3y avg: 2.5x
EV/EBITDA (ann.)
4.5x

Cash return

Dividend yield
2.3%
FCF yield (LTM)
13.7%

Value creation

to target market cap (spot commodity model)
Upside (potential)
+27.7%
↓ details

Liquidity

Daily turnover (listing)
19 mln USD

Shares: yahoo_fundamentals_timeseries/DAC

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK274.4
y/y 4.7%
132.7
y/y 5.7%
41.8
y/y -20.0%
174.5
y/y -1.8%
151.8
y/y 16.0%
204.4-177.65447.6
y/y 20.5%
4056.8
y/y 12.9%
15.2%202.5Yahoo Finance
2026-03-31Q1 2026 (3M)OK253.7
y/y 0.2%
125.2
y/y 4.1%
40.9
y/y 2.1%
166.1
y/y 3.6%
140.4
y/y 21.9%
163.1-151.65108.1
y/y 15.1%
3917.5
y/y 12.1%
14.6%149.1Yahoo Finance
2025-12-31Q4 2025 (3M)OK266.3
y/y 3.1%
122.9
y/y -9.5%
19.2
y/y -35.9%
142.1
y/y -14.3%
117.9
y/y 30.4%
160.9-97.45113.9
y/y 17.7%
3795.6
y/y 10.8%
13.2%-2.4Link
2025-09-30Q3 2025 (3M)OK260.7
y/y 1.8%
130.1
y/y -1.2%
51.9
y/y 34.1%
182.0
y/y 6.8%
130.6
y/y 6.2%
177.3-97.34614.7
y/y 8.5%
3710.6
y/y 9.6%
4.8%156.2Yahoo Finance
2025-06-30Q2 2025 (3M)OK262.2
y/y 6.9%
125.5
y/y -5.5%
52.2
y/y 26.4%
177.8
y/y 2.0%
130.9
y/y -7.3%
172.7-25.54521.2
y/y 11.7%
3592.6
y/y 9.6%
14.8%215.0Yahoo Finance
2025-03-31Q1 2025 (3M)OK253.3
y/y 1.3%
120.2
y/y -14.4%
40.0
y/y 11.8%
160.3
y/y -9.1%
115.1
y/y -23.5%
133.9-85.74438.9
y/y 16.5%
3493.7
y/y 10.9%
13.3%289.3Yahoo Finance
2024-12-31Q4 2024 (3M)OK258.2
y/y 3.6%
135.9
y/y 3.0%
29.9
y/y -4.1%
165.8
y/y 1.6%
90.4
y/y -39.7%
156.6-78.14343.7
y/y 18.6%
3424.8
y/y 13.5%
14.8%281.4Yahoo Finance
2024-09-30Q3 2024 (3M)OK256.2
y/y 7.1%
131.7
y/y -10.2%
38.7
y/y 38.8%
170.4
y/y -2.3%
123.0
y/y -7.6%
157.5-239.44253.8
y/y 19.7%
3386.4
y/y 17.1%
4.9%294.7Yahoo Finance
2024-06-30Q2 2024 (3M)OK245.3
y/y 1.6%
132.9
y/y -10.0%
41.3
y/y 58.6%
174.2
y/y 0.3%
141.2
y/y -4.0%
154.3-217.74046.4
y/y 16.1%
3277.2
y/y 17.5%
17.6%197.3Yahoo Finance
2024-03-31Q1 2024 (3M)OK249.9
y/y 2.6%
140.4
y/y -9.1%
35.8
y/y 57.9%
176.2
y/y -0.5%
150.5
y/y 2.9%
147.5-124.13809.8
y/y 9.4%
3149.9
y/y 17.1%
19.5%127.7Yahoo Finance
2023-12-31Q4 2023 (3M)OK249.3
y/y —
132.0
y/y —
31.2
y/y —
163.2
y/y —
149.9
y/y —
146.2-140.03661.1
y/y —
3016.3
y/y —
19.5%132.4Yahoo Finance
2023-09-30Q3 2023 (3M)OK239.2
y/y —
146.6
y/y —
27.9
y/y —
174.5
y/y —
133.2
y/y —
149.5-98.33553.9
y/y —
2892.4
y/y —
6.2%104.3Yahoo Finance
2023-06-30Q2 2023 (3M)OK241.5
y/y —
147.6
y/y —
26.1
y/y —
173.7
y/y —
147.0
y/y —
153.0-24.03484.4
y/y —
2789.5
y/y —
21.5%123.7Yahoo Finance
2023-03-31Q1 2023 (3M)OK243.6
y/y —
154.5
y/y —
22.7
y/y —
177.2
y/y —
146.2
y/y —
127.6-5.73481.3
y/y —
2690.2
y/y —
—129.5Yahoo Finance

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)27
Long-term debt (incl. LT leases)1 184
− Cash & equivalents1 008
Net debt202

Net debt / LTM EBITDA: 0.3x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

01002003002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-10%-5%0%5%10%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Operating and investing cash flow (OCF + ICF) ($ mln)

-100-500501001502024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

-10001002003002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 1.23x of reported net profit; after capex, 0.54x.
year20212022202320242025
cash flow / profit0.41x1.67x1.00x1.23x1.30x
accruals, % of assets17.2%-11.0%0.0%-2.7%-2.9%
Last twelve months (to 2026-06-30): 1.30x of profit came back as operating cash flow.
net debt / EBITDA -0.0x · capex 3.1x of depreciation · share count -2.7% a year
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Key-commodity price — Freightos Baltic Index

Current 3 560spot vs LTM +43%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +27.7% ▼ -0.4 pp 1d

Main driver: Freightos Baltic Index +62% vs LTM; revenue ×1.62 vs costs ×1.11; EBITDA 687→1 200; at 3.3× EV/EBITDA → +28%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Freightos Baltic Index (rev)+100%3 560.202 193.623 075.46+62%+40%
VLSFO Global 20 Ports (cost)-15%929.50621.93656.13+49%+5%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue1 055
LTM EBITDA687
LTM cash costs (revenue − EBITDA)368
2 · Revenue projection
Revenue multiplier — spot×1.623 (+62%)
= Spot revenue1 712
Revenue multiplier — 3y price×1.402 (+40%)
= 3-year-price revenue1 479
3 · Costs projection
Cost multiplier — spot×1.108 (+11%)
= Spot cash costs408
Cost multiplier — 3y price×1.042 (+4%)
= 3-year-price cash costs384
4 · EBITDA projection (revenue − costs)
= Spot EBITDA1 304
= 3-year-price EBITDA1 095
Conservative EBITDA = min(spot, avg)1 200
5 · Valuation → target market cap
Historical EV/EBITDA (75th pct, realized earnings)3.3x
Target EV = EV/EBITDA × conservative EBITDA3 912
Net debt202
Target market cap = EV − net debt3 693
Current market cap2 892

Upside = target market cap ÷ current − 1 = +27.7%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q3239112+114.3%17559+196.4%
2023 Q4249145+71.6%13294+40.7%
2024 Q1250453-44.8%176372-52.7%
2024 Q2245455-46.1%174373-53.3%
2024 Q3256535-52.1%170453-62.5%
2024 Q4258288-10.4%166200-17.2%
2025 Q1253218+16.4%160136+18.1%
2025 Q2262161+63.2%17875+138.5%
2025 Q3261158+65.5%18268+168.9%
2025 Q4266175+51.9%16488+86.6%
2026 Q1254214+18.4%166121+37.8%
2026 Q2274267+2.7%175170+2.8%

Revenue growth & acceleration

Growth steady →
Last-year revenue growth +3% vs +4% the year before — a -1.4 pp move. 3-year CAGR +2%.
revenue growth by year: 2023 -2% · 2024 +4% · 2025 +3%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 3.2x · target 75th pct (3y) 3.6x · LTM avg 3.3x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Peer comparison

Group: industrials (global). Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
ZIM Integrated Shippingglobal3.51.4x
Euroseasglobal0.53.0x
Okeanis Eco Tankersglobal3.47.9x
Genco Shipping & Tradingglobal1.19.7x
Matsonglobal7.412.0x
Group median7.9x
Group average6.8x
This companyglobal2.94.7x

Group median 7.9x; this company 4.7x — a 41% discount.

Group average 6.8x; against the average this company is at a 31% discount.

At the adjusted group median the market cap would be +72% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.4x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.6x, India 18.6x, Indonesia 5.4x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-24; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-10-131 USDEx-dividend: 1 USD per sharePaidYahoo Finance (ex-div)
2026-07-210.9 USDEx-dividend: 0.9 USD per sharePaidYahoo Finance (ex-div)
2026-05-260.9 USDEx-dividend: 0.9 USD per sharePaidYahoo Finance (ex-div)
2026-02-230.9 USDEx-dividend: 0.9 USD per sharePaidYahoo Finance (ex-div)
2025-05-270.85 USDEx-dividend: 0.85 USD per sharePaidYahoo Finance (ex-div)
2025-02-240.85 USDEx-dividend: 0.85 USD per sharePaidYahoo Finance (ex-div)
2024-11-250.85 USDEx-dividend: 0.85 USD per sharePaidYahoo Finance (ex-div)
2024-08-200.8 USDEx-dividend: 0.8 USD per sharePaidYahoo Finance (ex-div)
2024-06-110.8 USDEx-dividend: 0.8 USD per sharePaidYahoo Finance (ex-div)
2024-02-270.8 USDEx-dividend: 0.8 USD per sharePaidYahoo Finance (ex-div)
2023-11-240.8 USDEx-dividend: 0.8 USD per sharePaidYahoo Finance (ex-div)
2023-08-220.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2023-05-250.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2023-02-270.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2022-11-170.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2022-08-160.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2022-05-260.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2022-02-160.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2021-11-180.5 USDEx-dividend: 0.5 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Danaos Corporation (DAC) — from primary filings.

Frequently asked questions

What is Danaos Corporation (DAC)'s P/E ratio?
Danaos Corporation (DAC) trades at a P/E of 5.4x (price to trailing 12-month earnings).
What is Danaos Corporation (DAC)'s EV/EBITDA?
Danaos Corporation (DAC) trades at 4.7x EV/EBITDA.
What is Danaos Corporation (DAC)'s P/B ratio?
Danaos Corporation (DAC) trades at a P/B of 0.8x.
What is Danaos Corporation (DAC)'s dividend yield?
Danaos Corporation (DAC)'s trailing 12-month dividend yield is 2.3%.
What is Danaos Corporation (DAC)'s return on equity (ROE)?
Danaos Corporation (DAC)'s ROE is 15.2%.
What is Danaos Corporation (DAC)'s market capitalization?
Danaos Corporation (DAC)'s market cap is 2.9 bn USD.

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