Company Quick10K Filing
Danaos
20-F 2019-12-31 Filed 2020-02-27
20-F 2018-12-31 Filed 2019-03-05
20-F 2017-12-31 Filed 2018-03-07
20-F 2016-12-31 Filed 2017-03-06
20-F 2015-12-31 Filed 2016-03-15
20-F 2014-12-31 Filed 2015-03-10
20-F 2013-12-31 Filed 2014-02-28
20-F 2012-12-31 Filed 2013-03-01
20-F 2011-12-31 Filed 2012-03-30
20-F 2010-12-31 Filed 2011-04-08
20-F 2009-12-31 Filed 2010-06-18

Danaos Financials

DAC Metrics, Comps, Filings

Quarterly | Annual

Business

Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. We are a corporation domesticated in the Republic of The Marshall Islands on October 7, 2005, under the Marshall Islands Business Corporations Act, after having been incorporated as a Liberian company in 1998 in connection with the consolidation of our assets under Danaos Holdings Limited. In connection with our domestication in the Marshall Islands we changed our name from Danaos Holdings Limited to Danaos Corporation. Our manager, Danaos Shipping Company Limited, or Danaos Shipping, was founded by Dimitris Coustas in 1972 and since that time it has continuously provided seaborne transportation services under the management of the Coustas family. Dr. John Coustas, our chief executive officer, assumed responsibility for our management in 1987. Dr. Coustas has focused our business on chartering containerships to liner companies and has overseen the expansion of our fleet from three multi-purpose vessels in 1987 to the 55 containerships comprising our fleet as of February 28, 2019. In 2015, we formed a joint venture, Gemini Shipholdings Corporation, in which we have 49% minority equity interest, with our largest stockholder, DIL, to acquire, own and operate containerships. As of February 28, 2019, Gemini had acquired a fleet of four containerships aggregating 23,998 TEU in capacity.

In October 2006, we completed an initial public offering of our common stock in the United States and our common stock began trading on the New York Stock Exchange. In August 2010, we completed a sale of 54,054,055 shares of common stock for $200 million and in August 2018 we issued 99,342,271 shares of common stock to our lenders in connection with the 2018 Refinancing. See "Item 5. Operating and Financial Review and Prospects-2018 Refinancing."

Our company operates through a number of subsidiaries incorporated in Liberia, Cyprus, Malta and the Republic of the Marshall Islands, all of which are wholly-owned by us and either directly or indirectly owns the vessels in our fleet. A list of our active subsidiaries as of February 28, 2019, and their jurisdictions of incorporation, is set forth in Exhibit 8 to this Annual Report on Form 20-F.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Nordic American Tankers (NAT) 288 0% 1,071 469 0 0 0 0 675
MCBC Holdings (MCFT) 275 24% 8.3 8% 257 176 483 115 22 46 383
Teekay Tankers (TNK) 252 0% 2,161 1,214 0 0 0 0 934
Tsakos Energy Navigation (TNP) 230 0% 3,205 1,710 0 0 0 0 1,617
Safe Bulkers (SB) 181 0% 1,076 593 0 0 0 0 698
Ardmore Shipping (ASC) 161 0% 845 498 0 0 0 0 336
Overseas Shipholding Group (OSG) 157 0% 7.9 -1% 1,137 807 346 0 -7 61 483
Danaos (DAC) 149 0% 2,680 1,989 0 0 0 0 1,694
Pangaea Logistics Solutions (PANL) 144 0% 5.5 4% 485 309 282 0 20 40 221
StealthGas (GASS) 113 0% 1,037 475 0 0 0 0 479
Navios Maritime Containers (NMCI) 100 0% 414 231 0 0 0 0 265
Scorpio Tankers (STNG) 95 0% 4,784 2,945 0 0 0 0 83
Navios Maritime Acquisition (NNA) 44 0% 1,627 1,247 0 0 0 0 1,214
Capital Product Partners (CPLP) 37 0% 1,385 504 0 0 0 0 435
Odyssey Marine Exploration (OMEX) 37 26% -6.8 -202% 5 55 3 1 -10 -5 36
Hornbeck Offshore Services (HOS) 34 0% -51.7 -5% 2,692 1,494 218 0 -134 -21 1,106
Pyxis Tankers (PXS) 22 0% 117 77 0 0 0 0 82
Top Ships (TOPS) 20 0% 258 154 0 0 0 0 164
Globus Maritime (GLBS) 10 0% 87 46 0 0 0 0 8
Diana Containerships (DCIX) 9 0% 100 5 0 0 0 0 -1

Balance Sheet ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash5156685872746777
Accounts Receivable448811879
Inventory16181412111199
PP&E3,2423,9863,8433,6243,4462,9072,7963,224
Assets3,9884,2124,0673,8513,6973,1272,9862,680
Accounts Payable1514131313111110
Long-Term Debt3,0023,2163,1122,9512,7592,5271,622
Liabilities3,5463,7723,4683,1632,8552,6392,4381,989
Stockholders' Equity443440598688842488549691
Income Statement ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue
Cost of Revenue
Gross Profit
R&D
SG&A
Tax
Net Income
Cash Flow ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating
Cash Investing
Cash Financing