Danaos Corp
DAC · Deep Sea Foreign Transportation of Freight · EDGAR filings ↗
Grade
B79Large, highly profitable containership lessor with sector-leading margins, low leverage, and a huge cash pile.
Strengths
- Top-quintile profitability: net margin 47% (84th pct), OCF margin 62% (89th pct), ROA 9.7% (81st pct), ROE 13% (73rd pct)
- Strongest balance sheet in sector — cash 100th pct, debt/equity 0.23 (28th pct), current ratio 3.3
Risks
- Highly cyclical charter-rate exposure with customer concentration and an aging, capex-heavy fleet
- External-manager dependence and a large $1.9bn newbuild commitment that will raise leverage
Notable findings
- Strong balance sheetStrong balance sheet — $1.2B cash & investments
- China exposure● Increased inspection procedures, tighter import and export controls and new security regulations could cause disruption of our business
Key metrics
Operating margin
47.8%
Net margin
47.4%
Return on equity
13.0%
Return on assets
9.7%
ROIC
8.4%
Revenue growth (QoQ)
2.8%
Net-income growth
-2.1%
Debt / equity
0.2×
Net debt / EBITDA
-0.4×
Current ratio
3.3×
EBITDA
$662M
Tangible book value
$3.8B
Cash & investments
$1.2B
Stock comp / revenue
1.6%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-02-27 | 2025-12-31 | 0001104659-26-021574 ↗ |
| 20-F | 2025-03-05 | 2024-12-31 | 0001410578-25-000277 ↗ |
| 20-F | 2024-02-29 | 2023-12-31 | 0001104659-24-029397 ↗ |
| 20-F | 2023-03-09 | 2022-12-31 | 0001104659-23-030602 ↗ |
| 20-F | 2022-03-03 | 2021-12-31 | 0001104659-22-030016 ↗ |
| 20-F | 2021-03-04 | 2020-12-31 | 0001104659-21-032147 ↗ |
| 20-F | 2020-02-27 | 2019-12-31 | 0001047469-20-001086 ↗ |
| 20-F | 2019-03-05 | 2018-12-31 | 0001047469-19-000915 ↗ |
| 20-F | 2018-03-07 | 2017-12-31 | 0001047469-18-001368 ↗ |
| 20-F | 2017-03-06 | 2016-12-31 | 0001047469-17-001295 ↗ |
| 20-F | 2016-03-15 | 2015-12-31 | 0001047469-16-011187 ↗ |
| 20-F | 2015-03-10 | 2014-12-31 | 0001047469-15-001897 ↗ |