Great Lakes Dredge & Dock (GLDD) AI Stock Analysis

• Market Cap: $742.44M
• Dividend Yield: N/A
• Average Volume (3M): 588.11K
• Price to Earnings (P/E): 10.7
• Beta (1Y): 1.13
• Revenue Growth: 28.03%
• EPS Growth: 80.90%
• Country: US
• Employees: 381
• Sector: Industrials
• Sector Strength: 92
• Industry: Engineering & Construction
• EPS (TTM): 0.49
• Shares Outstanding: 67,926,384
• 10 Day Avg. Volume: 607,761
• 30 Day Avg. Volume: 588,113
• PEG Ratio: -3.68
• Price to Book (P/B): 1.60
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -10.86
• Enterprise Value/Market Cap: 1.69
• Enterprise Value/Revenue: 0.45
• Enterprise Value/Gross Profit: 7.82
• Enterprise Value/Ebitda: 2.55
• 1Y Price Target: $14.00
• Price Target Upside: 28.09% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 72 Outperform
• Price Target: $12.50 ▲( 14.36% Upside)

Great Lakes Dredge & Dock's strong financial performance, marked by improving margins and revenue growth, sets a positive outlook. While technical analysis shows overbought conditions, the stock's undervaluation and strategic corporate actions present growth potential. The solid backlog and strategic initiatives from the earnings call reinforce this positive trajectory. However, high leverage and negative free cash flow remain areas to watch.

Great Lakes Dredge & Dock Business Overview & Revenue Model

Company Description

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures. It is also involved in coastal protection projects that comprises of moving sand from the ocean floor to shoreline locations where erosion threatens shoreline assets; maintenance dredging, which consists of the re-dredging of previously deepened waterways and harbors to remove silt, sand, and other accumulated sediments; land reclamations, channel deepening, and port infrastructure development; and lake and river dredging, inland levee and construction dredging, environmental restoration and habitat improvement, and other marine construction projects. The company serves federal, state, and local governments; foreign governments; and domestic and foreign private concerns, such as utilities, oil, and other energy companies. It operates a fleet of 18 dredges, 17 material transportation barges, 1 drillboat, and various other support vessels. The company was formerly known as Lydon & Drews Partnership and changed its name to Great Lakes Dredge & Dock Corporation in 1905. Great Lakes Dredge & Dock Corporation was founded in 1890 and is headquartered in Houston, Texas.

How the Company Makes Money

Great Lakes Dredge & Dock generates revenue by executing dredging contracts for federal, state, and local governments, as well as private entities. The company primarily earns money through competitive bidding on large-scale dredging projects, which are often funded by governmental agencies such as the U.S. Army Corps of Engineers. Key revenue streams include contracts for harbor maintenance, which ensures navigable waterways; beach nourishment, which helps restore and preserve coastlines; and infrastructure development projects like land reclamation. GLDD's earnings are also supported by its ability to leverage strategic partnerships and joint ventures, enabling the company to expand its market reach and participate in international projects. Additionally, GLDD's investments in state-of-the-art dredging technology and equipment enhance operational efficiency, contributing to its profitability.

Great Lakes Dredge & Dock Financial Statement Overview

Summary

Great Lakes Dredge & Dock shows strong revenue growth and improved profit margins, indicating better cost management and operational efficiency. The balance sheet reveals moderate financial stability with high leverage, and cash flow issues remain due to negative free cash flow despite improved operating cash flow.

Income Statement

Great Lakes Dredge & Dock demonstrated strong revenue growth, with a significant increase from $589.63M in 2023 to $762.69M in 2024, marking a growth rate of 29.33%. The gross profit margin improved to 21.05% in 2024 from 12.77% in 2023, indicating better cost management. The net profit margin also saw improvement, rising to 7.51% from 2.36% in the previous year. The EBIT margin improved to 12.17%, reflecting enhanced operational efficiency. However, the EBITDA margin remained constant at 12.17%, suggesting limited improvement in cash operating performance.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio of 1.22 in 2024, up from 1.31 in 2023, indicating a slightly improved leverage position. The return on equity increased to 12.76%, reflecting effective use of equity to generate profits. However, the equity ratio decreased slightly to 39.40% from 34.71% in 2023, suggesting a reduced proportion of equity financing. Overall, the balance sheet demonstrates moderate financial stability, with potential risks due to high leverage.

Cash Flow

Operating cash flow improved significantly to $70.06M in 2024 from $47.43M in 2023, indicating better cash generation from operations. However, the free cash flow remained negative at -$55.08M, reflecting high capital expenditures. The free cash flow to net income ratio is negative, indicating challenges in converting net income into free cash flow. The operating cash flow to net income ratio improved to 1.22, showing better alignment with net income.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
762.69M	589.63M	648.78M	726.15M	733.60M
	Gross Profit
160.58M	75.32M	31.17M	145.27M	171.23M
	EBIT
92.81M	28.22M	-19.94M	41.11M	71.40M
	EBITDA
92.81M	72.98M	16.97M	127.44M	151.06M
	Net Income Common Stockholders
57.27M	13.91M	-34.05M	49.43M	66.10M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
10.22M	22.84M	6.55M	145.46M	216.51M
	Total Assets
1.26B	1.11B	981.78M	997.67M	958.02M
	Total Debt
547.75M	503.25M	413.40M	383.69M	389.09M
	Net Debt
537.53M	480.41M	406.86M	238.23M	172.58M
	Total Liabilities
806.19M	725.29M	613.56M	598.67M	611.36M
	Stockholders Equity
448.91M	385.55M	368.22M	399.00M	346.67M
Cash Flow		Free Cash Flow
-55.08M	-103.42M	-141.35M	-67.65M	31.33M
	Operating Cash Flow
70.06M	47.42M	1.65M	49.01M	78.95M
	Investing Cash Flow
-115.69M	-120.14M	-140.91M	-112.20M	-43.17M
	Financing Cash Flow
32.09M	89.93M	-1.66M	-5.86M	-6.26M

Great Lakes Dredge & Dock Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.93
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GLDD, the sentiment is Positive. The current price of 10.93 is above the 20-day moving average (MA) of 10.39, above the 50-day MA of 9.45, and above the 200-day MA of 10.46, indicating a bullish trend. The MACD of 0.50 indicates Positive momentum. The RSI at 63.12 is Neutral, neither overbought nor oversold. The STOCH value of 26.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GLDD.

Great Lakes Dredge & Dock Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WLDN	75 Outperform	$745.86M	30.47	10.78%	―	12.40%	81.98%
GLDD	72 Outperform	$742.44M	10.70	15.67%	―	28.03%	80.90%
BWMN	72 Outperform	$433.58M	169.89	1.25%	―	21.78%	―
ORN	70 Outperform	$316.83M	130.67	2.25%	―	15.58%	―
BBCP	66 Neutral	$380.91M	25.02	5.57%	―	-7.12%	-19.18%
Sector *	64 Neutral	$4.39B	11.81	5.20%	249.38%	3.96%	-12.36%
MTRX	55 Neutral	$332.43M	―	-14.26%	―	-0.29%	-6.77%

Great Lakes Dredge & Dock Corporate Events

Great Lakes Dredge & Dock Stockholders Approve Key Amendments

On May 8, 2025, Great Lakes Dredge & Dock Corporation held its Annual Meeting of Stockholders, where several key decisions were made. Stockholders approved an amendment to the 2021 Long-Term Incentive Plan, increasing the shares available by 3,000,000, and ratified Deloitte & Touche LLP as the independent auditor for 2025. Additionally, the election of two directors, approval of executive compensation, and the 2025 Employee Stock Purchase Plan were confirmed, indicating strong shareholder support for the company’s strategic direction.

The most recent analyst rating on (GLDD) stock is a Buy with a $11.00 price target. To see the full list of analyst forecasts on Great Lakes Dredge & Dock stock, see the GLDD Stock Forecast page.