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Great Lakes Dredge & Dock Corp
NASDAQ:GLDD

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Great Lakes Dredge & Dock Corp Logo
Great Lakes Dredge & Dock Corp
NASDAQ:GLDD
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Price: 8.75 USD 0.46% Market Closed
Updated: Mar 29, 2024

Intrinsic Value

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. [ Read More ]

The intrinsic value of one GLDD stock under the Base Case scenario is 8.9 USD. Compared to the current market price of 8.75 USD, Great Lakes Dredge & Dock Corp is Undervalued by 2%.

Key Points:
GLDD Intrinsic Value
Base Case
8.9 USD
Undervaluation 2%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
Great Lakes Dredge & Dock Corp

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Fundamental Analysis

Strong Q4 Caps Year of Positive Transition
2023-Q4 Earnings Call

Strong Q4 Caps Year of Positive Transition

In 2023, after a year of positive change and a backdrop of robust bidding activity in port deepening and coastal protection markets, the company notched a record backlog of $1.04 billion. The implemented cost-reduction initiatives and modernized fleet contributed to substantial improvements in financial results—$181.7 million in Q4 revenue with a 21.3% gross profit margin. Despite a decrease in annual revenue, net income and adjusted EBITDA significantly rose due to better project performance and operational efficiencies. Looking ahead to 2024, about 60% of the backlog is expected to translate into revenue, with capital expenditures forecasted between $170 million and $195 million. The company is well-positioned in the thriving U.S. dredging market and the offshore wind sector, optimistic about continued growth due to strong market demand and bipartisan government support for infrastructure development.

Financials

Balance Sheet Decomposition
Great Lakes Dredge & Dock Corp

Current Assets 226.3m
Cash & Short-Term Investments 22.8m
Receivables 123.5m
Other Current Assets 79.9m
Non-Current Assets 884.5m
PP&E 703m
Intangibles 76.6m
Other Non-Current Assets 104.9m
Current Liabilities 179.4m
Accounts Payable 83.8m
Accrued Liabilities 61.2m
Other Current Liabilities 34.4m
Non-Current Liabilities 545.8m
Long-Term Debt 412.1m
Other Non-Current Liabilities 133.8m
Efficiency

Earnings Waterfall
Great Lakes Dredge & Dock Corp

Revenue
589.6m USD
Cost of Revenue
-511.9m USD
Gross Profit
77.7m USD
Operating Expenses
-57.1m USD
Operating Income
20.7m USD
Other Expenses
-6.8m USD
Net Income
13.9m USD

Free Cash Flow Analysis
Great Lakes Dredge & Dock Corp

Last Value
3-Years Average
FCF Margin
Conversion Rate
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Table
What is Free Cash Flow?
Fundamental Scores

GLDD Profitability Score
Profitability Due Diligence

Great Lakes Dredge & Dock Corp's profitability score is 35/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Negative 1-Year Revenue Growth
Low ROE
Positive Operating Income
35/100
Profitability
Score

Great Lakes Dredge & Dock Corp's profitability score is 35/100. The higher the profitability score, the more profitable the company is.

GLDD Solvency Score
Solvency Due Diligence

Great Lakes Dredge & Dock Corp's solvency score is 28/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Short-Term Solvency
Average D/E
Low Altman Z-Score
28/100
Solvency
Score

Great Lakes Dredge & Dock Corp's solvency score is 28/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

GLDD Price Targets Summary
Great Lakes Dredge & Dock Corp

Wall Street analysts forecast GLDD stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for GLDD is 13.26 USD with a low forecast of 11.11 USD and a high forecast of 14.7 USD.

Lowest
Price Target
11.11 USD
27% Upside
Average
Price Target
13.26 USD
52% Upside
Highest
Price Target
14.7 USD
68% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Ownership

GLDD Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
Why is insider trading important?

Shareholder Return

GLDD Price
Great Lakes Dredge & Dock Corp

1M 1M
-2%
6M 6M
+10%
1Y 1Y
+64%
3Y 3Y
-36%
5Y 5Y
-2%
10Y 10Y
-4%
Annual Price Range
8.75
52w Low
5.27
52w High
9.55
Price Metrics
Average Annual Return 0.46%
Standard Deviation of Annual Returns 43.85%
Max Drawdown -70%
Shares Statistics
Market Capitalization 583m USD
Shares Outstanding 66 623 200
Percentage of Shares Shorted 2.13%

GLDD Return Decomposition
Main factors of price return

What is price return decomposition?

Company Profile

Great Lakes Dredge & Dock Corp Logo
Great Lakes Dredge & Dock Corp

Country

United States of America

Industry

Construction

Market Cap

583m USD

Dividend Yield

0%

Description

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. The company is headquartered in Houston, Texas and currently employs 413 full-time employees. The company went IPO on 2006-12-27. The firm provides dredging services in the East and Gulf Coasts of the United States and around the world. Its dredging generally involves the enhancement or preservation of the navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Domestically, its work generally is performed in coastal waterways and deep-water ports. Its United States dredging market consists of four primary types of work: capital, coastal protection, maintenance and rivers and lakes. The company operates three principal types of dredging equipment: hopper dredges, hydraulic dredges and mechanical dredges. Its domestic dredging fleet is positioned on the East and Gulf Coasts, with a smaller number of vessels positioned on the West Coast, and with many of the rivers and lakes dredges on inland rivers and lakes.

Contact

TEXAS
Houston
9811 Katy Freeway, Suite 1200
+13463591010.0
http://www.gldd.com/

IPO

2006-12-27

Employees

413

Officers

CEO, President & Director
Mr. Lasse J. Petterson
Senior VP, Treasurer & CFO
Mr. Scott Lee Kornblau
Senior VP, Chief Legal Officer, Chief Compliance Officer & Corporate Secretary
Ms. Vivienne R. Schiffer
Senior Vice President of Offshore Wind
Ms. Eleni Beyko Ph.D.
Senior VP of Project Acquisition & Operations
Mr. David Johanson
VP & Chief Accounting Officer
Mr. Ryan Bayer
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VP and CTO of Technology & Innovation
Mr. Trond Ellefsen
Director of Investor Relations
Tina A. Baginskis
Senior Vice President of Fleet Engineering
Mr. Steven W. Becker
Senior Vice President of Market Development
Mr. William H. Hanson
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See Also

Discover More
What is the Intrinsic Value of one GLDD stock?

The intrinsic value of one GLDD stock under the Base Case scenario is 8.9 USD.

Is GLDD stock undervalued or overvalued?

Compared to the current market price of 8.75 USD, Great Lakes Dredge & Dock Corp is Undervalued by 2%.