Danaos Corporation (DAC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+195.7%

$456.02

vs $154.20 price

Levered DCF

$228.94

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.95

Grey zone

Rating

A+

Overall 5 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	3.51×	3.06×	2.55×	1.93×	1.44×	5.43×	2.55×	-3.39×
P/B	0.46×	0.45×	0.49×	0.42×	0.73×	0.49×	0.16×	0.16×
P/S	1.67×	1.53×	1.51×	1.09×	2.2×	1.1×	0.33×	0.24×
EV / EBITDA	2.48×	2.71×	2.28×	1.87×	2.24×	6.17×	5.1×	10.32×
Gross margin	80.0%	60.7%	65.9%	66.9%	59.8%	50.9%	52.9%	51.0%
Operating margin	47.8%	53.3%	59.6%	65.8%	52.0%	43.2%	45.0%	-2.6%
Net margin	47.4%	49.8%	59.2%	56.3%	152.7%	33.3%	12.8%	-7.2%
Current ratio	3.28×	3.97×	2.98×	1.63×	1.98×	0.49×	0.85×	0.54×
Debt / equity	0.3×	0.21×	0.13×	0.21×	0.64×	1.41×	1.73×	2.35×
Interest coverage	10.71×	18.16×	28.38×	10.52×	5.19×	3.57×	2.69×	-0.14×
Dividend yield	3.7%	4.1%	4.1%	5.7%	2.0%	0.0%	0.0%	0.0%
Payout ratio	12.8%	12.4%	10.5%	11.0%	2.9%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.0%	14.7%	19.1%	21.8%	50.4%	14.8%	6.5%	-4.8%
Return on invested capital	10.0%	12.8%	16.5%	19.4%	10.2%	7.5%	7.7%	-0.5%
Return on assets	9.7%	11.6%	15.7%	16.4%	29.0%	5.7%	2.1%	-1.2%
Free cash flow yield	18.6%	-2.4%	20.9%	68.2%	4.8%	18.8%	136.6%	140.3%
Earnings yield	28.5%	32.7%	39.1%	51.8%	69.3%	30.4%	39.2%	-29.5%
Enterprise value	$1.9B	$1.8B	$1.6B	$1.3B	$2.7B	$1.9B	$1.5B	$1.7B
Net debt / EBITDA	0.16×	0.42×	0.19×	0.36×	0.99×	4.53×	4.62×	9.62×
Cash conversion cycle (days)	-194	29	29	11	12	21	1	5