DAC Danaos Corp

Overview and Growth

In fiscal 2025, Danaos Corp recorded $1.04B of revenue, net income of $494.61M, and an operating cash inflow of $644.75M. The $1.04B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 2.8% above fiscal 2024 revenue of $1.01B, marking a year-over-year increase. The company reported diluted EPS of $26.76, adding a shareholder-level measure to the absolute income figures considered below. Against diluted EPS of $26.05 in fiscal 2024, the current result was 2.7% higher. Total assets stood at $5.11B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Revenue equaled 0.2x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Operations produced $498.77M of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 47.8% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. Net income came to $494.61M, completing the progression from revenue through gross and operating profitability to the final reported result. Measured against reported revenue, net income produced a 47.4% margin after operating costs and the remaining recognized items. Pretax income was $494.61M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Pretax income represented 47.4% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $0.00, the amount recognized between pretax income and the final net-income result. Relative to pretax income, the tax provision measured 0.0%, quantifying the portion of pre-tax earnings paid in income tax. The relationship between net income and period-end equity was 13.0%, indicating the profitability achieved on book capital. Net income represented 9.7% of period-end assets, placing the company’s bottom-line result against the total resource base employed. The company moved from fiscal 2024 net income of $505.07M to $494.61M, with the current outcome ending below that comparison.

Liquidity and Capital Structure

Total assets were $5.11B, supported by $1.32B of liabilities and $3.80B of shareholder equity. Current assets were $1.32B against $401.68M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 3.28x, leaving a positive buffer for near-term obligations. The company held $1.04B in cash and equivalents, a narrower liquidity measure than total current assets. Cash and equivalents represented 258.2% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Borrowings totaled $1.16B, adding a fixed financing obligation alongside the company’s equity capital. Debt equaled 0.3x of book equity, describing the relative scale of borrowing and shareholder capital. Relative to total assets, debt measured 22.6%, showing how much of the asset base was matched by borrowing. Relative to total assets, liabilities measured 25.8%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 20.3%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $4.34B in fiscal 2024, the current asset base moved 17.7% and finished higher. Reported equity changed 10.8% from $3.42B in fiscal 2024, placing the current capital base higher year over year. The reported cash balance changed 128.8% from $453.38M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $644.75M, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 1.3x, showing the relationship between accrual earnings and operating cash.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.