A Business at a Glance
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Great Lakes Dredge & Dock CORP
GLDD
$907M
Mkt Cap
Great Lakes Dredge & Dock CORP (GLDD) has a current P/E ratio of 15.7, compared to its historical median P/E of 14.0. The stock is currently considered Fair based on its historical valuation range.
Great Lakes Dredge & Dock CORP (GLDD) has a 5-year average return on invested capital (ROIC) of 5.4%. This is below average and may indicate limited pricing power.
Great Lakes Dredge & Dock CORP (GLDD) has a market capitalization of $1.2B. It is classified as a small-cap stock.
Great Lakes Dredge & Dock CORP (GLDD) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.00%.
Based on historical P/E analysis, Great Lakes Dredge & Dock CORP (GLDD) appears fair. The current P/E of 15.7 is 12% above its historical median of 14.0. The estimated fair value CAGR (P/E method) is 7.4%.
Great Lakes Dredge & Dock CORP (GLDD) operates in the Heavy Construction Other Than Bldg Const - Contractors industry, within the Industrials sector.
The terms “we,” “our,” “ours,” “us,” “Great Lakes”, “GLDD” and “Company” refer to Great Lakes Dredge & Dock Corporation and its subsidiaries. Great Lakes is the largest provider of dredging services in the United States which is complemented with a long history of performing significant international projects. The Company is also fully engaged in expanding its core business into the offshore energy industry. The Company was founded in 1890 as Lydon & Drews Partnership and performed its first project in Chicago, Illinois. The Company changed its name to Great Lakes Dredge & Dock Company in 1905 and was involved in a number of marine construction and landfill projects along the Chicago lakefront and in the surrounding Great Lakes region. The Company now operates on the East and Gulf coastlines and throughout many inland U.S. waterways.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 888M | 888M | 763M | 590M | 649M | 726M |
| Net Income | 73M | 73M | 57M | 14M | -34M | 49M |
| EPS | $1.08 | $1.08 | $0.84 | $0.21 | $-0.52 | $0.75 |
| Free Cash Flow | 99M | 99M | -55M | -103M | -141M | -68M |
| ROIC | 9.7% | 10.1% | 7.6% | 2.3% | -4.8% | 12.0% |
| Gross Margin | 22.9% | 22.9% | 21.1% | 13.2% | 4.8% | 20.0% |
| Debt/Equity | 0.88 | 0.88 | 1.22 | 1.54 | 1.79 | 0.96 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 128M | 128M | 93M | 28M | -28M | 83M |
| Operating Margin | 14.4% | 14.4% | 12.2% | 4.8% | -4.3% | 11.5% |
| ROE | 14.2% | 15.2% | 13.7% | 3.7% | -8.9% | 13.3% |
| Shares Outstanding | 68M | 68M | 68M | 66M | 65M | 66M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 807M | 857M | 768M | 703M | 621M | 712M | 734M | 726M | 649M | 590M | 763M | 888M | 888M |
| Gross Margin | 11.5% | 11.2% | 11.1% | 6.1% | 18.0% | 21.6% | 23.3% | 20.0% | 4.8% | 13.2% | 21.1% | 22.9% | 22.9% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 68M | 71M | 55M | 57M | 55M | 59M | 63M | 62M | 51M | 57M | 71M | 78M | 78M |
| EBIT | 24M | 23M | 27M | -19M | 53M | 98M | 112M | 83M | -28M | 28M | 93M | 128M | 128M |
| Op. Margin | 3.0% | 2.7% | 3.5% | -2.7% | 8.5% | 13.8% | 15.2% | 11.5% | -4.3% | 4.8% | 12.2% | 14.4% | 14.4% |
| Net Income | 10M | -6.2M | -8.2M | -31M | -6.3M | 49M | 66M | 49M | -34M | 14M | 57M | 73M | 73M |
| Net Margin | 1.3% | -0.7% | -1.1% | -4.4% | -1.0% | 6.9% | 9.0% | 6.8% | -5.2% | 2.4% | 7.5% | 8.3% | 8.3% |
| Non-Recurring | -732K | 3.6M | -339K | 24M | 12M | -1.1M | 1.6M | 294K | -7.8M | 100K | 2.9M | 2.3M | 2.3M |
| Returns on Capital | |||||||||||||
| ROIC | 4.6% | 5.6% | 6.6% | -5.7% | 6.1% | 15.4% | 18.3% | 12.0% | -4.8% | 2.3% | 7.6% | 10.1% | 9.7% |
| ROE | 4.1% | -2.4% | -3.3% | -13.3% | -2.9% | 20.0% | 21.1% | 13.3% | -8.9% | 3.7% | 13.7% | 15.2% | 14.2% |
| ROA | 1.2% | -0.7% | -0.9% | -3.6% | -0.8% | 6.1% | 7.1% | 5.1% | -3.4% | 1.3% | 4.8% | 5.8% | 5.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 49M | 29M | 39M | 22M | 138M | 193M | 79M | 49M | 1.7M | 47M | 70M | 247M | 247M |
| Free Cash Flow | -43M | -45M | -44M | -44M | 88M | 143M | 31M | -68M | -141M | -103M | -55M | 99M | 99M |
| Owner Earnings | -4.0M | -40M | -19M | -37M | 83M | 148M | 34M | 803K | -49M | -1.4M | 19M | 192M | 192M |
| CapEx | 92M | 74M | 83M | 66M | 49M | 49M | 48M | 117M | 143M | 151M | 125M | 147M | 147M |
| Maint. CapEx | 50M | 65M | 55M | 56M | 50M | 37M | 38M | 43M | 46M | 43M | 43M | 43M | 43M |
| Growth CapEx | 42M | 9.9M | 28M | 10M | 0 | 12M | 9.4M | 74M | 97M | 108M | 82M | 104M | 104M |
| D&A | 50M | 65M | 55M | 56M | 50M | 37M | 38M | 43M | 46M | 43M | 43M | 43M | 43M |
| CapEx/OCF | 188.3% | 255.7% | 216.7% | 306.7% | 35.9% | 25.7% | 60.3% | 238.0% | 8651.3% | 318.1% | 178.6% | 59.7% | 59.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 1.4M | 0 | 0 | 0 | 0 | 3.9M | 0 | 0 | 0 | 0 | 12M | 12M |
| Buyback Yield | N/A | 0.6% | N/A | N/A | N/A | N/A | 0.5% | N/A | N/A | N/A | N/A | 1.3% | 1.0% |
| Stock-Based Comp | 2.7M | 4.0M | 2.7M | 2.9M | 4.6M | 6.9M | 6.8M | 5.2M | 4.3M | 6.3M | 8.6M | 11M | 11M |
| Debt Repayment | 417K | 443K | 1.1M | 276M | 298K | 12M | 0 | 325M | 10M | 118M | 141M | 251M | 251M |
| Balance Sheet | |||||||||||||
| Net Debt | 288M | 344M | 322M | 414M | 299M | 209M | 173M | 239M | 653M | 570M | 538M | 444M | 444M |
| Cash & Equiv. | 42M | 14M | 11M | 16M | 34M | 187M | 217M | 145M | 6.5M | 23M | 10M | 13M | 13M |
| Long-Term Debt | 324M | 346M | 286M | 333M | 322M | 323M | 324M | 321M | 322M | 412M | 448M | 378M | 378M |
| Debt/Equity | 1.29 | 1.42 | 1.34 | 1.94 | 1.55 | 1.42 | 1.12 | 0.96 | 1.79 | 1.54 | 1.22 | 0.88 | 0.88 |
| Interest Coverage | 1.2 | 0.9 | 1.0 | -0.6 | 1.7 | 3.9 | 4.2 | N/A | -1.6 | 1175.8 | 244.2 | 511.2 | 511.2 |
| Equity | 256M | 252M | 248M | 221M | 215M | 279M | 347M | 399M | 368M | 386M | 449M | 517M | 517M |
| Total Assets | 890M | 898M | 894M | 832M | 730M | 898M | 958M | 998M | 982M | 1.1B | 1.3B | 1.3B | 1.3B |
| Total Liabilities | 637M | 646M | 646M | 611M | 515M | 618M | 611M | 599M | 614M | 725M | 806M | 769M | 769M |
| Intangibles | 9.0M | 2.4M | 1.5M | 908K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -21M | -28M | -36M | -67M | -75M | -23M | 41M | 90M | 56M | 70M | 127M | 201M | 201M |
| Working Capital | 142M | 124M | 127M | 112M | 44M | 97M | 186M | 173M | 23M | 47M | 47M | 1.6M | 1.6M |
| Current Assets | 342M | 330M | 307M | 262M | 207M | 301M | 363M | 327M | 183M | 226M | 263M | 217M | 217M |
| Current Liabilities | 201M | 206M | 180M | 150M | 163M | 204M | 176M | 155M | 160M | 179M | 216M | 216M | 216M |
| Per Share Data | |||||||||||||
| EPS | 0.17 | -0.10 | -0.13 | -0.51 | -0.10 | 0.76 | 1.00 | 0.75 | -0.52 | 0.21 | 0.84 | 1.08 | 1.08 |
| Owner EPS | -0.07 | -0.64 | -0.30 | -0.61 | 1.31 | 2.29 | 0.51 | 0.01 | -0.75 | -0.02 | 0.28 | 2.82 | 2.82 |
| Book Value | 4.23 | 4.07 | 3.94 | 3.61 | 3.42 | 4.30 | 5.24 | 6.05 | 5.62 | 5.82 | 6.58 | 7.60 | 7.60 |
| Cash Flow/Share | 0.81 | 0.47 | 0.61 | 0.35 | 2.19 | 2.97 | 1.19 | 0.74 | 0.03 | 0.72 | 1.03 | 3.63 | 1.72 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 60.6M | 61.9M | 62.9M | 61.3M | 62.9M | 64.9M | 66.1M | 65.9M | 65.5M | 66.2M | 68.2M | 68.0M | 68.0M |
| Valuation | |||||||||||||
| P/E Ratio | 50.0 | N/A | N/A | N/A | N/A | 14.6 | 12.8 | 20.9 | N/A | 36.7 | 13.5 | 12.4 | 15.7 |
| P/FCF | N/A | N/A | N/A | N/A | 4.6 | 5.0 | 26.9 | N/A | N/A | N/A | N/A | 9.1 | 11.6 |
| EV/EBIT | 20.1 | 11.7 | 37.2 | N/A | 12.8 | 6.8 | 6.6 | 12.7 | N/A | 31.1 | 12.9 | 9.9 | 12.5 |
| Price/Book | 2.0 | 1.0 | 1.1 | 1.5 | 1.9 | 2.6 | 2.4 | 2.6 | 1.0 | 1.3 | 1.7 | 1.8 | 2.2 |
| Price/Sales | 0.6 | 0.4 | 0.3 | 0.5 | 0.6 | 0.9 | 0.9 | 1.3 | 1.2 | 0.8 | 0.8 | 0.8 | 1.3 |
| FCF Yield | -8.4% | -18.6% | -16.0% | -13.4% | 21.6% | 19.9% | 3.7% | -6.6% | -38.1% | -20.3% | -7.1% | 11.0% | 8.6% |
| Market Cap | 515M | 243M | 277M | 331M | 408M | 721M | 843M | 1.0B | 371M | 510M | 771M | 907M | 1.2B |
| Avg. Price | 7.82 | 5.75 | 4.05 | 4.55 | 5.44 | 9.82 | 9.74 | 14.82 | 11.60 | 7.00 | 9.50 | 11.07 | 16.98 |
| Year-End Price | 8.50 | 3.93 | 4.40 | 5.40 | 6.49 | 11.10 | 12.76 | 15.64 | 5.67 | 7.70 | 11.31 | 13.34 | 16.98 |
Great Lakes Dredge & Dock CORP passes 2 of 9 quality checks, indicating weak fundamentals.
Great Lakes Dredge & Dock CORP trades at 15.7x trailing earnings, compared to its 15-year median P/E of 14.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 11.4x vs a median of 7.1x. The company's 5-year average ROIC is 5.4% with a gross margin of 16.4%. Total shareholder yield (buybacks) is 1.0%. At current prices, the estimated annualized return to fair value is -6.6%.
Great Lakes Dredge & Dock CORP (GLDD) reported annual revenue of $888 million in its most recent fiscal year, based on SEC EDGAR filings.
Great Lakes Dredge & Dock CORP (GLDD) has a net profit margin of 8.3%. This is a modest margin.
Great Lakes Dredge & Dock CORP (GLDD) generated $99 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Great Lakes Dredge & Dock CORP (GLDD) has a debt-to-equity ratio of 0.88. This indicates moderate leverage.
Great Lakes Dredge & Dock CORP (GLDD) reported earnings per share (EPS) of $1.08 in its most recent fiscal year.
Great Lakes Dredge & Dock CORP (GLDD) has a return on equity (ROE) of 15.2%. This indicates the company generates strong returns for shareholders.
Great Lakes Dredge & Dock CORP (GLDD) has a 5-year average gross margin of 16.4%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for Great Lakes Dredge & Dock CORP (GLDD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Great Lakes Dredge & Dock CORP (GLDD) has a book value per share of $7.60, based on its most recent annual SEC filing.
No recent press releases.