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Side-by-side financial comparison of Danaos Corp (DAC) and MARA Holdings, Inc. (MARA). Click either name above to swap in a different company.

Danaos Corp is the larger business by last-quarter revenue ($262.2M vs $202.3M, roughly 1.3× MARA Holdings, Inc.). Danaos Corp runs the higher net margin — 49.9% vs -14298.3%, a 14348.2% gap on every dollar of revenue. On growth, Danaos Corp posted the faster year-over-year revenue change (6.4% vs -5.6%).

Danaos Corporation is a leading global containership ownership and management firm. It operates a large fleet of modern container vessels, providing long-term charter services to top international container liner operators across major global trade routes, supporting the efficiency and reliability of global supply chains.

MARA Holdings, Inc. is an American digital asset technology and cryptocurrency mining company headquartered in Fort Lauderdale, Florida. Founded in 2010, the company initially operated as a patent holding company before pivoting in the late 2010s to focus on blockchain infrastructure and digital assets.

DAC vs MARA — Head-to-Head

Bigger by revenue
DAC
DAC
1.3× larger
DAC
$262.2M
$202.3M
MARA
Growing faster (revenue YoY)
DAC
DAC
+12.1% gap
DAC
6.4%
-5.6%
MARA
Higher net margin
DAC
DAC
14348.2% more per $
DAC
49.9%
-14298.3%
MARA

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
DAC
DAC
MARA
MARA
Revenue
$262.2M
$202.3M
Net Profit
$130.9M
$-1.7B
Gross Margin
Operating Margin
47.9%
-11795.9%
Net Margin
49.9%
-14298.3%
Revenue YoY
6.4%
-5.6%
Net Profit YoY
-7.3%
-423.5%
EPS (diluted)
$7.12
$-4.25

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
DAC
DAC
MARA
MARA
Q4 25
$202.3M
Q3 25
$252.4M
Q2 25
$262.2M
$238.5M
Q1 25
$213.9M
Q4 24
$214.4M
Q3 24
$131.6M
Q2 24
$246.3M
$145.1M
Q1 24
$165.2M
Net Profit
DAC
DAC
MARA
MARA
Q4 25
$-1.7B
Q3 25
$123.1M
Q2 25
$130.9M
$808.2M
Q1 25
$-533.4M
Q4 24
$528.5M
Q3 24
$-124.8M
Q2 24
$141.2M
$-199.7M
Q1 24
$337.2M
Gross Margin
DAC
DAC
MARA
MARA
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
-2613.4%
Q3 24
-1065.0%
Q2 24
-587.6%
Q1 24
-289.4%
Operating Margin
DAC
DAC
MARA
MARA
Q4 25
-11795.9%
Q3 25
18.9%
Q2 25
47.9%
Q1 25
-253.0%
Q4 24
Q3 24
-130.8%
Q2 24
56.8%
-160.1%
Q1 24
Net Margin
DAC
DAC
MARA
MARA
Q4 25
-14298.3%
Q3 25
48.8%
Q2 25
49.9%
338.9%
Q1 25
-249.4%
Q4 24
5367.4%
Q3 24
-94.8%
Q2 24
57.3%
-137.6%
Q1 24
204.1%
EPS (diluted)
DAC
DAC
MARA
MARA
Q4 25
$-4.25
Q3 25
$0.27
Q2 25
$7.12
$1.84
Q1 25
$-1.55
Q4 24
$1.60
Q3 24
$-0.42
Q2 24
$7.23
$-0.72
Q1 24
$1.26

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
DAC
DAC
MARA
MARA
Cash + ST InvestmentsLiquidity on hand
$654.1M
$547.1M
Total DebtLower is stronger
$3.6B
Stockholders' EquityBook value
$3.6B
$3.5B
Total Assets
$4.5B
$7.3B
Debt / EquityLower = less leverage
1.04×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DAC
DAC
MARA
MARA
Q4 25
$547.1M
Q3 25
$826.4M
Q2 25
$654.1M
$109.5M
Q1 25
$196.2M
Q4 24
$391.8M
Q3 24
$164.3M
Q2 24
$471.7M
$256.0M
Q1 24
$324.3M
Total Debt
DAC
DAC
MARA
MARA
Q4 25
$3.6B
Q3 25
$3.2B
Q2 25
$2.3B
Q1 25
$2.3B
Q4 24
$2.4B
Q3 24
$618.7M
Q2 24
Q1 24
Stockholders' Equity
DAC
DAC
MARA
MARA
Q4 25
$3.5B
Q3 25
$5.2B
Q2 25
$3.6B
$4.8B
Q1 25
$3.7B
Q4 24
$4.1B
Q3 24
$2.9B
Q2 24
$3.3B
$2.6B
Q1 24
$2.5B
Total Assets
DAC
DAC
MARA
MARA
Q4 25
$7.3B
Q3 25
$9.2B
Q2 25
$4.5B
$7.7B
Q1 25
$6.4B
Q4 24
$6.8B
Q3 24
$3.6B
Q2 24
$4.0B
$3.1B
Q1 24
$3.0B
Debt / Equity
DAC
DAC
MARA
MARA
Q4 25
1.04×
Q3 25
0.63×
Q2 25
0.47×
Q1 25
0.62×
Q4 24
0.59×
Q3 24
0.22×
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
DAC
DAC
MARA
MARA
Operating Cash FlowLast quarter
$-802.7M
Free Cash FlowOCF − Capex
$-1.2B
FCF MarginFCF / Revenue
-598.0%
Capex IntensityCapex / Revenue
201.2%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-2.0B

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DAC
DAC
MARA
MARA
Q4 25
$-802.7M
Q3 25
$-199.0M
Q2 25
$-163.4M
Q1 25
$-215.5M
Q4 24
$-677.0M
Q3 24
$-160.1M
Q2 24
$-115.2M
Q1 24
$-88.3M
Free Cash Flow
DAC
DAC
MARA
MARA
Q4 25
$-1.2B
Q3 25
$-283.9M
Q2 25
$-282.4M
Q1 25
$-254.3M
Q4 24
$-927.8M
Q3 24
$-198.1M
Q2 24
$-132.4M
Q1 24
$-97.4M
FCF Margin
DAC
DAC
MARA
MARA
Q4 25
-598.0%
Q3 25
-112.5%
Q2 25
-118.4%
Q1 25
-118.9%
Q4 24
-432.8%
Q3 24
-150.5%
Q2 24
-91.2%
Q1 24
-59.0%
Capex Intensity
DAC
DAC
MARA
MARA
Q4 25
201.2%
Q3 25
33.6%
Q2 25
49.9%
Q1 25
18.2%
Q4 24
117.0%
Q3 24
28.9%
Q2 24
11.9%
Q1 24
5.5%
Cash Conversion
DAC
DAC
MARA
MARA
Q4 25
Q3 25
-1.62×
Q2 25
-0.20×
Q1 25
Q4 24
-1.28×
Q3 24
Q2 24
Q1 24
-0.26×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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