Danaos Corporation (DAC) vs Kirby Corporation (KEX)

Danaos Corporation and Kirby Corporation are both Marine Shipping companies. Kirby Corporation is the larger, with a market value of $6.9B against $2.8B — 2.4× the size. Danaos Corporation trades at the lower P/E: 5.2× against 19.7×. Kirby Corporation grew revenue faster over the last twelve months: 6.56% against 2.45%. Danaos Corporation has the higher net margin (51.3% vs 10.2%) and the higher return on invested capital (7.91% vs 6.89%). Across the 22 metrics below, Danaos Corporation leads on 16 and Kirby Corporation on 6.

Valuation

Metric DAC KEX Marine Shipping median
P/E 5.19 19.71 6.89
P/S 2.65 1.97 1.92
P/B 0.69 2.00 0.90
Price to free cash flow 14.36 13.71 4.62
EV/EBITDA 3.82 9.79 6.57
EV/Sales 2.64 2.27 2.73
Earnings yield 19.25% 5.07% 9.59%
Free cash flow yield 6.96% 7.29% 16.76%

Profitability

Metric DAC KEX Marine Shipping median
Gross margin 74.98% 33.20% 60.61%
Operating margin 48.42% 14.01% 27.74%
Net margin 51.26% 10.18% 25.21%
Free cash flow margin 18.48% 14.38% 17.29%
Return on equity 14.14% 10.39% 8.62%
Return on assets 10.85% 5.78% 5.35%
Return on invested capital 7.91% 6.89% 5.32%

Growth

Metric DAC KEX Marine Shipping median
Revenue growth (TTM) 2.45% 6.56% 13.26%
EPS growth (last fiscal year) 2.73% 28.92% —
Revenue growth, 5-year CAGR 17.70% 9.15% 11.77%
Net income growth, 5-year CAGR 26.36% 0.00% 0.00%

Health

Metric DAC KEX Marine Shipping median
Debt to equity 0.30 0.30 0.52
Current ratio 9.30 1.68 1.63
Net debt to EBITDA 0.17 1.03 2.34

Dividend

Metric DAC KEX Marine Shipping median
Dividend yield 4.19% — 5.54%
Payout ratio 0.12 0.00 0.13

Size

Metric DAC KEX Marine Shipping median
Market cap 2.82b 6.88b 420.73m

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