Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Danaos Corporation (DAC)

Company Dividend Discount ModelIndustry: Marine ShippingSector: Industrials

Valuation Snapshot

Stable Growth$931.20 - $4,912.28$1,858.68
Multi-Stage$679.49 - $745.05$711.66
Blended Fair Value$1,285.17
Current Price$89.81
Upside1,330.99%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%3.363.253.291.650.000.000.000.000.000.00
YoY Growth--3.48%-1.28%99.06%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--4.31%4.48%6.02%1.61%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)467.13
(-) Cash Dividends Paid (M)65.49
(=) Cash Retained (M)401.64
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)93.4358.3935.03
Cash Retained (M)401.64401.64401.64
(-) Cash Required (M)-93.43-58.39-35.03
(=) Excess Retained (M)308.21343.25366.60
(/) Shares Outstanding (M)18.7018.7018.70
(=) Excess Retained per Share16.4918.3619.61
LTM Dividend per Share3.503.503.50
(+) Excess Retained per Share16.4918.3619.61
(=) Adjusted Dividend19.9921.8623.11
WACC / Discount Rate6.51%6.51%6.51%
Growth Rate4.27%5.27%6.27%
Fair Value$931.20$1,858.68$4,912.28
Upside / Downside936.85%1,969.57%5,369.63%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)467.13491.74517.65544.93573.64603.87621.98
Payout Ratio14.02%29.22%44.41%59.61%74.80%90.00%92.50%
Projected Dividends (M)65.49143.67229.90324.82429.11543.48575.33

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.51%6.51%6.51%
Growth Rate4.27%5.27%6.27%
Year 1 PV (M)133.61134.89136.17
Year 2 PV (M)198.83202.66206.53
Year 3 PV (M)261.26268.85276.58
Year 4 PV (M)320.97333.46346.31
Year 5 PV (M)378.06396.54415.73
PV of Terminal Value (M)11,410.4311,968.1912,547.54
Equity Value (M)12,703.1513,304.5813,928.87
Shares Outstanding (M)18.7018.7018.70
Fair Value$679.49$711.66$745.05
Upside / Downside656.58%692.40%729.58%

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