Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.08, read 2026-11-01
Ethical passes the values gate
Price157.02 USD
Fair value172.15
Ethical score70.0/100
Our investment reviews on this name
2026-10-28Read Accumulation157.99-0.6% to today Markdown gives way to Accumulation
2026-10-21Read Markdown158.72-1.1% to today ✓Accumulation gives way to Markdown after a 13% rise in 8 weeks
2026-08-26Read Accumulation140.72+11.6% to today ✓Markdown gives way to Accumulation after a 12% rise in 4 weeks
2026-07-26Read Markdown125.87+24.7% to today Markup gives way to Markdown
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Danaos Corporation holds its Markdown at $157.02. Consolidating, no directional conviction, held for 370 days.
As held on the ledger · 2026-10-30
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 370 days
Price at the screen
$157.02
Valuation
5.35 trailing · 6.45 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.87
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
22.59%
Below 33%
Interest-bearing debt is just 22.6% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
2.35%
Below 33%
Cash held in interest-bearing accounts and securities is 2.4% of assets, under the one-third limit.
Pass
Receivables
21.04%
Below 49%
Money owed to the company is 21.0% of assets, under the 49% limit.
Pass
Revenue purity
1.88%
Below 5%
Only 1.9% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Danaos clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 23%, inside the ~33% line, and interest is about 2% of its income, under the ~5% line, so it passes.
Read as at 2026-11-01. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when DAC's ethical verdict changes
Today DAC passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
Free, no account needed. Every email has a link to stop.
Fair value range in USD, drawn from the 2026-10-30 screen. The gold marker is the market price at the same screen. A 9.6% margin of safety to the base estimate.
Where our models see it going: fair-value estimate $172.15, with a range of $139.50 to $224.74, dated to the 2026-10-30 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Shipping multiples often mark cycle peaks not bargains
Every time freight rates spike on the back of a supply crunch owners like Danaos book outsized profits for a few quarters. The 5.1 times forward earnings and 50 percent margins look attractive on paper next to a 19 percent gap to our fair value. Yet revenue growth has already hit zero and the unknown moat leaves little protection once the cycle rolls over.
We pass because this is the classic cyclical value trap. A low multiple on peak earnings rarely signals a bargain in marine shipping. The 14 percent return on equity is respectable today but will compress sharply when utilisation and rates normalise, and two analysts offer no consensus to lean on.
Currency swings, charterer concentration and sudden order-book oversupply remain live threats even after the ethical screen clears. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: its business and earnings are exposed to Greece and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
DAC trades on the NYSE (the company is based in Greece). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 53%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (2 analysts) rates it none, with a mean price target of $157.
2026-10-21Markdown · changed$158.72-6.3%Entry 8
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 24% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 53%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (2 analysts) rates it none, with a mean price target of $157.
2026-10-14Accumulation$169.39+8.6%Entry 7
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 8.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 24% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 53%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (2 analysts) rates it none, with a mean price target of $157.
2026-10-02Accumulation$156.00+10.9%Entry 6
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 10.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 24% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 53%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (2 analysts) rates it none, with a mean price target of $157.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 11.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 24% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 53%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (2 analysts) rates it none, with a mean price target of $157.
2026-07-26Markdown · changed$125.87-4.1%Entry 4
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 4.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 24% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 53%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (2 analysts) rates it none, with a mean price target of $157.
2026-07-18Markup$131.30+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 24% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 53%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (2 analysts) rates it none, with a mean price target of $157.
2026-07-03Markup$131.30+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$131.30Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
