NYSE : DAC
Danaos Corporation — Financial statements
Industrials · Marine Shipping · Greece
Last price 158.86 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.89B
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Financial statements
Danaos Corporation (DAC) reported revenue of 1.06B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.06B | 1.04B | 1.01B | 973.58M | 993.34M | 689.50M |
| Cost of Revenue | 308.40M | 315.91M | 278.99M | 221.79M | 206.29M | 170.38M |
| Gross Profit | 746.66M | 726.54M | 735.12M | 751.79M | 787.06M | 519.13M |
| Selling, General & Admin | 71.64M | 65.57M | 55.28M | 44.37M | 44.38M | 43.95M |
| Operating Expenses | 236.92M | 228.94M | 203.62M | 173.66M | 178.65M | 160.87M |
| Operating Income | 509.74M | 497.61M | 531.50M | 578.14M | 608.40M | 358.26M |
| Interest Expense | -46.84M | -46.46M | -29.82M | -24.09M | -65.76M | -72.61M |
| Interest & Investment Income | 33.68M | 21.23M | 22.17M | 13.19M | 169.99M | 46.57M |
| Earnings From Equity Investments | -1.28M | -1.04M | -1.63M | -3.99M | 68.03M | |
| Other Non Operating Income (Expenses) | -1.66M | -3.76M | -302.00K | -4.40M | -360.00K | 3.22M |
| EBT Excluding Unusual Items | 492.64M | 467.57M | 521.92M | 558.85M | 712.27M | 403.46M |
| Gain (Loss) on Sale of Investments | 56.68M | 29.54M | -25.18M | 17.87M | -176.39M | 543.65M |
| Gain (Loss) on Sale of Assets | 8.33M | 1.64M | 37.23M | |||
| Other Unusual Items | -8.53M | -2.50M | -2.05M | 4.35M | 111.62M | |
| Pretax Income | 540.80M | 494.61M | 505.07M | 576.30M | 577.46M | 1.06B |
| Income Tax Expense | 18.25M | 5.89M | ||||
| Net Income | 540.80M | 494.61M | 505.07M | 576.30M | 559.21M | 1.05B |
| Net Income to Common | 540.80M | 494.61M | 505.07M | 576.30M | 559.21M | 1.05B |
| Shares Outstanding (Basic) | 18.26M | 18.43M | 19.32M | 19.88M | 20.48M | 20.35M |
| Shares Outstanding (Diluted) | 18.31M | 18.48M | 19.38M | 19.90M | 20.50M | 20.58M |
| EPS (Basic) | 29.61 | 26.83 | 26.15 | 28.99 | 27.30 | 51.75 |
| EPS (Diluted) | 29.53 | 26.76 | 26.05 | 28.95 | 27.28 | 51.15 |
| Free Cash Flow | 196.66M | 348.06M | -37.59M | 308.26M | 735.61M | 72.39M |
| Free Cash Flow Per Share | 10.74 | 18.83 | -1.94 | 15.49 | 35.88 | 3.52 |
| Dividend Per Share | 3.60 | 3.50 | 3.30 | 3.10 | 3.00 | 2.25 |
| Gross Margin | 70.77% | 69.69% | 72.49% | 77.22% | 79.23% | 75.29% |
| Operating Margin | 48.31% | 47.73% | 52.41% | 59.38% | 61.25% | 51.96% |
| Profit Margin | 51.26% | 47.45% | 49.80% | 59.19% | 56.30% | 152.69% |
| Free Cash Flow Margin | 18.64% | 33.39% | -3.71% | 31.66% | 74.05% | 10.50% |
| EBITDA | 675.02M | 660.97M | 675.31M | 686.20M | 685.98M | 444.48M |
| EBITDA Margin | 63.98% | 63.41% | 66.59% | 70.48% | 69.06% | 64.46% |
| D&A For EBITDA | 165.28M | 163.37M | 143.81M | 108.06M | 77.57M | 86.22M |
| EBIT | 509.74M | 497.61M | 531.50M | 578.14M | 608.40M | 358.26M |
| EBIT Margin | 48.31% | 47.73% | 52.41% | 59.38% | 61.25% | 51.96% |
| Effective Tax Rate | 3.16% | 0.56% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.01B | 1.04B | 453.38M | 271.81M | 267.67M | 129.41M |
| Short-Term Investments | 223.18M | 120.24M | 60.85M | 86.03M | 423.02M | |
| Cash & Short-Term Investments | 1.23B | 1.16B | 514.23M | 357.84M | 267.67M | 552.43M |
| Accounts Receivable | 54.33M | 63.56M | 47.75M | 46.43M | 27.64M | 26.11M |
| Other Receivables | 9.02M | 9.98M | 14.39M | 12.03M | 15.17M | 8.92M |
| Receivables | 63.35M | 73.54M | 62.13M | 58.45M | 42.81M | 35.03M |
| Inventory | 22.57M | 23.42M | 23.88M | 24.51M | 16.10M | 12.58M |
| Prepaid Expenses | 4.62M | 2.09M | 1.90M | 1.92M | 1.31M | 2.03M |
| Restricted Cash | 346.00K | |||||
| Other Current Assets | 68.21M | 62.84M | 68.81M | 59.05M | 44.63M | 30.07M |
| Total Current Assets | 1.39B | 1.32B | 670.97M | 501.77M | 372.52M | 632.49M |
| Property, Plant & Equipment | 3.21B | 3.27B | 3.29B | 2.75B | 2.72B | 2.94B |
| Long-Term Investments | 24.74M | 270.00K | ||||
| Long-Term Accounts Receivable | 17.46M | 30.14M | 47.42M | 63.38M | 83.87M | 39.93M |
| Long-Term Deferred Charges | 54.47M | 54.36M | 58.76M | 38.01M | 25.55M | 11.80M |
| Other Long-Term Assets | 746.58M | 440.31M | 276.20M | 311.16M | 196.79M | 1.81M |
| Total Assets | 5.45B | 5.11B | 4.34B | 3.66B | 3.40B | 3.63B |
| Accounts Payable | 25.13M | 17.27M | 29.04M | 22.82M | 24.50M | 18.93M |
| Accrued Expenses | 33.96M | 28.77M | 23.64M | 20.46M | 28.16M | 32.99M |
| Current Portion of Long-Term Debt | 26.63M | 283.01M | 35.22M | 21.30M | 27.50M | 95.75M |
| Current Portion of Leases | 27.47M | 85.81M | ||||
| Current Unearned Revenue | 30.35M | 36.62M | 49.66M | 63.82M | 112.15M | 83.18M |
| Other Current Liabilities | 33.41M | 35.99M | 31.39M | 39.76M | 8.62M | 2.65M |
| Total Current Liabilities | 149.49M | 401.68M | 168.95M | 168.16M | 228.41M | 319.31M |
| Long-Term Debt | 1.18B | 872.08M | 699.56M | 382.87M | 402.44M | 1.02B |
| Long-Term Leases | 44.54M | 136.51M | ||||
| Long-Term Unearned Revenue | 2.62M | 22.90M | 60.13M | 111.56M | 37.98M | |
| Pension & Post-Retirement Benefits | 21.70M | 21.50M | 12.90M | 13.30M | 6.40M | |
| Other Long-Term Liabilities | 35.55M | 20.48M | 14.54M | 20.35M | 46.46M | 27.39M |
| Total Liabilities | 1.39B | 1.32B | 918.85M | 644.82M | 839.81M | 1.54B |
| Common Stock | 182.00K | 183.00K | 190.00K | 194.00K | 203.00K | 207.00K |
| Additional Paid-In Capital | 590.46M | 591.58M | 650.86M | 690.19M | 748.11M | 770.68M |
| Retained Earnings | 3.53B | 3.28B | 2.84B | 2.40B | 1.89B | 1.39B |
| Comprehensive Income & Other | -68.52M | -71.41M | -70.43M | -75.98M | -74.21M | -71.45M |
| Shareholders' Equity | 4.06B | 3.80B | 3.42B | 3.02B | 2.56B | 2.09B |
| Total Liabilities & Equity | 5.45B | 5.11B | 4.34B | 3.66B | 3.40B | 3.63B |
| Total Debt | 1.21B | 1.16B | 734.78M | 404.17M | 501.95M | 1.34B |
| Net Cash (Debt) | 20.72M | 2.44M | -220.55M | -46.34M | -234.28M | -783.56M |
| Net Cash Per Share | 1.13 | 0.13 | -11.38 | -2.33 | -11.43 | -38.07 |
| Filing Date Shares Outstanding | 18.20M | 18.20M | 18.67M | 19.42M | 20.35M | 20.72M |
| Total Common Shares Outstanding | 18.20M | 18.26M | 18.99M | 19.42M | 20.35M | 20.72M |
| Working Capital | 1.24B | 917.74M | 502.01M | 333.61M | 144.11M | 313.19M |
| Book Value Per Share | 222.86 | 207.81 | 180.37 | 155.33 | 125.82 | 100.79 |
| Tangible Book Value | 4.06B | 3.80B | 3.42B | 3.02B | 2.56B | 2.09B |
| Tangible Book Value Per Share | 222.86 | 207.81 | 180.37 | 155.33 | 125.82 | 100.79 |
| Machinery | 4.92B | 4.89B | 4.75B | 4.06B | 3.90B | 3.92B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 540.80M | 494.61M | 505.07M | 576.30M | 559.21M | 1.05B |
| Depreciation & Amortization | 165.28M | 163.37M | 143.81M | 108.06M | 77.57M | 89.30M |
| Other Amortization | 46.30M | 47.56M | 31.49M | 20.86M | 23.69M | 26.09M |
| Loss (Gain) From Sale of Assets | -8.33M | -1.64M | -37.23M | |||
| Asset Writedown & Restructuring Costs | 1.77M | |||||
| Loss (Gain) From Sale of Investments | -53.06M | -25.92M | 28.81M | -14.24M | 180.01M | -540.03M |
| Loss (Gain) on Equity Investments | 1.28M | 1.04M | 1.63M | 3.99M | -68.03M | |
| Stock-Based Compensation | 18.13M | 16.75M | 14.56M | 12.68M | 5.97M | 15.28M |
| Other Operating Activities | -23.66M | -33.14M | -49.14M | -27.25M | -26.44M | -115.38M |
| Change in Accounts Receivable | 3.31M | -3.78M | -5.40M | -4.30M | 1.48M | 786.00K |
| Change in Inventory | -951.00K | 464.00K | 630.00K | -8.41M | -3.52M | -2.07M |
| Change in Accounts Payable | 1.54M | -11.77M | 7.06M | -390.00K | 5.58M | 4.52M |
| Change in Unearned Revenue | -22.32M | -33.32M | -46.86M | -77.53M | 158.25M | -832.00K |
| Change in Other Net Operating Assets | 37.19M | 28.89M | -1.57M | -11.84M | -9.84M | -34.37M |
| Operating Cash Flow | 715.61M | 644.75M | 621.75M | 576.29M | 934.74M | 428.11M |
| Capital Expenditures | -518.95M | -296.69M | -659.34M | -268.04M | -199.13M | -355.72M |
| Sale of Property, Plant & Equipment | 1.68M | 10.20M | 3.91M | 129.07M | ||
| Cash Acquisitions | 16.22M | |||||
| Investment in Securities | -71.91M | -30.69M | -1.64M | -74.41M | 246.64M | 196.35M |
| Investing Cash Flow | -590.86M | -325.70M | -650.79M | -338.53M | 176.57M | -143.15M |
| Long-Term Debt Issued | 620.67M | 362.00M | 182.73M | 1.24B | ||
| Long-Term Debt Repaid | -190.76M | -27.97M | -100.42M | -1.05B | -1.40B | |
| Net Debt Issued (Repaid) | 459.07M | 429.91M | 334.03M | -100.42M | -863.75M | -157.21M |
| Repurchase of Common Stock | -29.35M | -75.74M | -53.33M | -70.61M | -28.55M | |
| Common Dividends Paid | -64.86M | -63.55M | -62.81M | -60.70M | -61.48M | -30.89M |
| Other Financing Activities | -27.52M | -25.77M | -7.28M | -1.89M | -19.62M | -32.77M |
| Financing Cash Flow | 337.35M | 264.85M | 210.61M | -233.62M | -973.40M | -220.87M |
| Net Cash Flow | 462.10M | 583.91M | 181.57M | 4.14M | 137.91M | 64.09M |
| Free Cash Flow | 196.66M | 348.06M | -37.59M | 308.26M | 735.61M | 72.39M |
| Free Cash Flow Margin | 18.64% | 33.39% | -3.71% | 31.66% | 74.05% | 10.50% |
| Free Cash Flow Per Share | 10.74 | 18.83 | -1.94 | 15.49 | 35.88 | 3.52 |
| Levered Free Cash Flow | 4.50M | 192.73M | -181.86M | 154.20M | 252.18M | 4.44M |
| Unlevered Free Cash Flow | 30.06M | 218.29M | -165.55M | 167.05M | 281.76M | 33.91M |
| Cash Interest Paid | 37.41M | 33.55M | 21.57M | 18.08M | 53.95M | 42.84M |
| Change in Working Capital | 18.76M | -19.52M | -46.14M | -102.47M | 151.96M | -31.96M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.86B | 1.72B | 1.55B | 1.44B | 1.07B | 1.54B |
| Enterprise Value | 2.84B | 1.76B | 1.75B | 1.48B | 1.46B | 2.83B |
| Last Close Price | 157.02 | 88.85 | 72.68 | 64.66 | 43.83 | 59.69 |
| PE Ratio | 5.32 | 3.49 | 3.06 | 2.50 | 1.91 | 1.46 |
| Forward PE | 6.03 | 3.62 | 2.87 | 2.39 | 1.88 | 3.51 |
| PS Ratio | 2.71 | 1.65 | 1.53 | 1.48 | 1.07 | 2.23 |
| PB Ratio | 0.70 | 0.45 | 0.45 | 0.48 | 0.42 | 0.74 |
| P/TBV Ratio | 0.70 | 0.45 | 0.45 | 0.48 | 0.42 | 0.74 |
| P/FCF Ratio | 14.53 | 4.95 | 4.67 | 1.45 | 21.24 | |
| P/OCF Ratio | 3.99 | 2.67 | 2.49 | 2.50 | 1.14 | 3.59 |
| EV/Sales Ratio | 2.69 | 1.69 | 1.72 | 1.52 | 1.47 | 4.10 |
| EV/EBITDA Ratio | 4.20 | 2.67 | 2.59 | 2.16 | 2.13 | 6.36 |
| EV/EBIT Ratio | 5.57 | 3.55 | 3.29 | 2.56 | 2.40 | 7.89 |
| EV/FCF Ratio | 14.43 | 5.07 | 4.80 | 1.99 | 39.07 | |
| Debt / Equity Ratio | 0.30 | 0.30 | 0.21 | 0.13 | 0.20 | 0.64 |
| Debt / EBITDA Ratio | 1.79 | 1.75 | 1.09 | 0.59 | 0.73 | 2.99 |
| Debt / FCF Ratio | 6.16 | 3.32 | 1.31 | 0.68 | 18.45 | |
| Net Debt / Equity Ratio | -0.01 | -0.00 | 0.06 | 0.01 | 0.09 | 0.38 |
| Net Debt / EBITDA Ratio | -0.03 | -0.00 | 0.33 | 0.07 | 0.34 | 1.76 |
| Net Debt / FCF Ratio | -0.10 | -0.01 | -5.87 | 0.15 | 0.32 | 10.82 |
| Asset Turnover | 0.21 | 0.22 | 0.25 | 0.28 | 0.28 | 0.22 |
| Inventory Turnover | 13.96 | 13.36 | 11.53 | 10.92 | 14.39 | 15.35 |
| Quick Ratio | 8.66 | 3.06 | 3.41 | 2.48 | 1.36 | 1.84 |
| Current Ratio | 9.30 | 3.29 | 3.97 | 2.98 | 1.63 | 1.98 |
| Return on Equity (ROE) | 14.14% | 13.70% | 15.68% | 20.67% | 24.06% | 67.41% |
| Return on Assets (ROA) | 6.39% | 6.58% | 8.30% | 10.23% | 10.82% | 7.06% |
| Return on Invested Capital (ROIC) | 12.81% | 13.38% | 15.85% | 19.74% | 20.80% | 13.43% |
| Return on Capital Employed (ROCE) | 9.60% | 10.60% | 12.70% | 16.60% | 19.20% | 10.80% |
| Earnings Yield | 18.81% | 28.68% | 32.63% | 40.02% | 52.44% | 68.48% |
| FCF Yield | 6.88% | 20.18% | -2.43% | 21.40% | 68.98% | 4.71% |
| Dividend Yield | 2.29% | 3.71% | 4.05% | 4.18% | 5.73% | 3.03% |
| Payout Ratio | 15.58% | 12.85% | 12.44% | 10.53% | 11.00% | 2.93% |
| Buyback Yield / Dilution | 3.14% | 4.67% | 2.61% | 2.91% | 0.40% | 13.53% |
| Total Shareholder Return | 5.44% | 8.37% | 6.65% | 7.09% | 6.13% | 16.56% |