Danaos Corp (DAC) is undervalued and Hafnia Ltd (HAFN) is undervalued.
Against our estimates of intrinsic value, DAC trades at the wider discount: a margin of safety of +76%, against +69% for HAFN.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.3% (average of 3 methods) values the shares at $656.04; the price of $156.00 is 76% below that value, and 79% of that value comes from beyond year five.
Leak Score 100/100 on 3 of 12 signals
Discounting its cash flows at 7.3% (average of 3 methods) values the shares at $30.21; the price of $9.23 is 69% below that value, and 83% of that value comes from beyond year five.
Leak Score 100/100 on 3 of 12 signals
| Metric | DAC | HAFN |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $156.00 | $9.23 |
| Intrinsic value | $656.04 | $30.21 |
| Margin of safety | +76% | +69% |
| Leak Score | 100/100 (3/12) | 100/100 (3/12) |
| Market cap | $2.8B | $4.6B |
| Revenue growth, 5 years | 17.7% | 21.2% |
| Operating margin | 48.4% | 20.2% |
| Net margin | 51.3% | 24.7% |
| Return on equity | 14.1% | 26.6% |
| Debt to equity | 0.30 | 0.33 |
| P/E | 5.3x | 7.1x |
| Forward P/E | 5.7x | 9.9x |
| P/B | 0.7x | 1.7x |
| Dividend yield | 2.3% | 15.2% |