Danaos Corporation (DAC) vs Okeanis Eco Tankers Corp. (ECO)

Danaos Corporation and Okeanis Eco Tankers Corp. are both Marine Shipping companies. Danaos Corporation and Okeanis Eco Tankers Corp. are of similar size ($3.0B and $2.8B). Danaos Corporation trades at the lower P/E: 5.2× against 7.3×. Okeanis Eco Tankers Corp. grew revenue faster over the last twelve months: 105.2% against 2.45%. Okeanis Eco Tankers Corp. has the higher net margin (56.9% vs 51.3%) and the higher return on invested capital (20.3% vs 7.91%). Both pay a dividend; Okeanis Eco Tankers Corp. yields more (15.4% vs 4.19%). Across the 21 metrics below, Danaos Corporation leads on 13 and Okeanis Eco Tankers Corp. on 8.

Valuation

Metric DAC ECO Marine Shipping median
P/E 5.19 7.27 6.89
P/S 2.65 4.31 1.92
P/B 0.69 3.47 0.90
Price to free cash flow 14.36 72.08 4.62
EV/EBITDA 3.82 7.24 6.57
EV/Sales 2.64 4.98 2.73
Earnings yield 19.25% 13.76% 9.59%
Free cash flow yield 6.96% 1.39% 16.76%

Profitability

Metric DAC ECO Marine Shipping median
Gross margin 74.98% 72.33% 60.61%
Operating margin 48.42% 62.34% 27.74%
Net margin 51.26% 56.92% 25.21%
Free cash flow margin 18.48% 5.97% 17.29%
Return on equity 14.14% 61.59% 8.62%
Return on assets 10.85% 29.44% 5.35%
Return on invested capital 7.91% 20.29% 5.32%

Growth

Metric DAC ECO Marine Shipping median
Revenue growth (TTM) 2.45% 105.24% 13.26%
EPS growth (last fiscal year) 2.73% 11.54% —
Revenue growth, 5-year CAGR 17.70% — 11.77%
Net income growth, 5-year CAGR 26.36% — 0.00%

Health

Metric DAC ECO Marine Shipping median
Debt to equity 0.30 0.82 0.52
Current ratio 9.30 4.43 1.63
Net debt to EBITDA 0.17 2.38 2.34

Dividend

Metric DAC ECO Marine Shipping median
Dividend yield 4.19% 15.38% 5.54%
Payout ratio 0.12 — 0.13

Size

Metric DAC ECO Marine Shipping median
Market cap 2.82b 2.97b 420.73m

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