Danaos Q2 2026 NAV and EBITDA valuation

Danaos Corporation (DAC)
By@hypertonx
Assumptions as of 2026-08-07
USD
Updated Aug 7, 2026 · Revised 3 times
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Danaos Q2 2026 NAV and EBITDA valuation

Blended valuation using reported book equity as a conservative NAV proxy and annualized Q2 adjusted EBITDA. The explicit orderbook haircut recognizes the remaining $1.81B of newbuilding commitments despite strong liquidity, record contracted revenue backlog of about $4.6B, and high fleet utilization.

as of 2026-08-07

Book NAV per share
$222.86
Annualized adjusted EBITDA
$747
Net debt
$224
Fair value
$147.75
Upside/downside
9.4%

Market

$135.02
Latest DAC quote · updated Aug 11, 2026 2:00 PM MDT

Operations

100%

Risk adjustment

$150$M

Valuation

0.70
4.1

Valuation bridge ($M except per-share data)

Current
Reported book equity$4,057
Book NAV per share$222.86
Annualized adjusted EBITDA$747
Net debt$224
Value before orderbook haircut$155.99
Orderbook haircut per share$8.24
Fair value per share$147.75

Sources

  1. Danaos Q2 2026 reported $4.057B of stockholders equity, $1.008B of cash and cash equivalents, $1.233B of debt gross of deferred finance costs, and $224.5M of net debt at June 30, 2026. — danaos.com
  2. Danaos Q2 2026 adjusted EBITDA was $186.8M and first-half 2026 adjusted EBITDA was $367.4M. — danaos.com
  3. Total contracted operating revenues based on concluded charter contracts through the release date were about $4.6B, with container contracted operating day coverage of 100% for 2026, 93% for 2027, 79% for 2028, and 61% for 2029. — danaos.com
  4. Danaos Q2 2026 container utilization was 97.7%, drybulk utilization was 99.5%, remaining newbuilding contractual commitments were about $1.807B, and the Q2 dividend was $0.90 per share. — sec.gov

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