Great Lakes Dredge & Dock (GLDD) Financials

$11.01 +0.09 (+0.82%)

As of 10:11 AM Eastern

Annual Income Statements for Great Lakes Dredge & Dock

This table shows Great Lakes Dredge & Dock's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	10	-6.19	-8.18	-31	-6.29	49	66	49	-34	14	57
Consolidated Net Income / (Loss)	10	-6.19	-8.18	-31	-6.29	49	66	49	-34	14	57
Net Income / (Loss) Continuing Operations	21	-6.19	0.54	-15	11	56	66	49	-34	14	57
Total Pre-Tax Income	9.19	-8.69	0.37	-49	16	71	86	63	-43	18	75
Total Operating Income	24	23	27	-19	53	98	112	83	-28	28	93
Total Gross Profit	92	96	85	43	111	154	171	145	31	78	161
Total Revenue	807	857	637	592	621	712	734	726	649	590	763
Operating Revenue	807	857	637	592	621	712	734	726	649	590	763
Total Cost of Revenue	714	761	552	549	509	558	562	581	618	512	602
Operating Cost of Revenue	714	761	552	549	509	558	562	581	618	512	602
Total Operating Expenses	69	73	58	62	59	56	59	62	59	50	68
Selling, General & Admin Expense	68	71	55	57	55	59	63	62	51	57	71
Other Operating Expenses / (Income)	-	-	-	-	0.00	-4.62	-1.72	-	7.79	-7.54	-3.00
Total Other Income / (Expense), net	-15	-32	-27	-30	-36	-27	-25	-21	-16	-9.91	-17
Interest & Investment Income	-20	-24	-23	-28	-34	-28	-27	-22	-14	-12	-18
Other Income / (Expense), net	5.30	-7.28	-3.14	-1.47	-2.59	0.32	1.11	0.99	-1.57	2.23	0.46
Income Tax Expense	-12	-2.50	-0.18	-34	5.44	15	20	13	-9.36	4.41	18
Basic Earnings per Share	$0.18	($0.10)	($0.13)	($0.51)	($0.10)	$0.78	$1.02	$0.75	($0.52)	$0.21	$0.85
Weighted Average Basic Shares Outstanding	59.94M	60.41M	60.74M	61.37M	62.24M	63.60M	64.74M	65.59M	66.05M	66.47M	67.09M
Diluted Earnings per Share	$0.17	($0.10)	($0.13)	($0.51)	($0.10)	$0.76	$1.00	$0.75	($0.52)	$0.21	$0.84
Weighted Average Diluted Shares Outstanding	60.52M	60.41M	61.37M	61.37M	63.61M	65.04M	65.87M	66.30M	66.05M	66.96M	67.85M
Weighted Average Basic & Diluted Shares Outstanding	57.20M	61.90M	62.90M	61.30M	62.90M	64.29M	65.12M	65.75M	66.19M	66.62M	67.28M

This table shows Great Lakes Dredge & Dock's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-9.91	-31	-3.23	1.73	-6.15	22	21	7.67	8.85	20	33
Consolidated Net Income / (Loss)	-9.91	-31	-3.23	1.73	-6.15	22	21	7.67	8.85	20	33
Net Income / (Loss) Continuing Operations	-9.91	-31	-3.23	1.73	-6.15	22	21	7.67	8.85	20	33
Total Pre-Tax Income	-13	-40	-4.02	2.53	-7.96	28	28	11	12	25	45
Total Operating Income	-9.45	-37	-0.86	3.68	-5.12	31	31	15	17	30	50
Total Gross Profit	3.80	-16	12	18	9.03	39	46	30	36	49	70
Total Revenue	158	147	158	133	117	182	199	170	191	203	243
Operating Revenue	158	147	158	133	117	182	199	170	191	203	243
Total Cost of Revenue	155	163	146	115	108	143	153	140	155	154	173
Operating Cost of Revenue	155	163	146	115	108	143	153	140	155	154	173
Total Operating Expenses	13	21	13	14	14	8.14	14	15	20	19	20
Selling, General & Admin Expense	13	12	13	14	14	15	16	16	20	19	20
Other Special Charges / (Income)	-0.04	-	-0.02	-0.24	-0.04	-	-	-0.91	-0.28	-	-0.46
Total Other Income / (Expense), net	-3.80	-2.90	-3.16	-1.15	-2.84	-2.76	-3.47	-4.07	-4.69	-5.20	-4.82
Interest & Investment Income	-3.55	-3.11	-3.39	-3.18	-2.76	-2.82	-3.89	-4.20	-4.89	-4.90	-4.45
Other Income / (Expense), net	-0.25	0.21	0.23	2.02	-0.08	0.06	0.43	0.13	0.20	-0.29	-0.37
Income Tax Expense	-3.35	-8.45	-0.79	0.80	-1.81	6.21	6.99	2.84	3.15	5.14	12
Basic Earnings per Share	($0.15)	($0.48)	($0.05)	$0.03	($0.09)	$0.32	$0.32	$0.11	$0.13	$0.29	$0.50
Weighted Average Basic Shares Outstanding	66.11M	66.05M	66.26M	66.46M	66.53M	66.47M	66.73M	67.12M	67.22M	67.09M	67.38M
Diluted Earnings per Share	($0.15)	($0.48)	($0.05)	$0.03	$0.00	$0.23	$0.31	$0.11	$0.00	$0.42	$0.49
Weighted Average Diluted Shares Outstanding	66.11M	66.05M	66.26M	66.81M	66.53M	66.96M	67.49M	67.70M	67.83M	67.85M	68.40M
Weighted Average Basic & Diluted Shares Outstanding	66.17M	66.19M	66.42M	66.49M	66.61M	66.62M	67.01M	67.19M	67.27M	67.28M	67.93M

This table details how cash moves in and out of Great Lakes Dredge & Dock's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-33	-28	4.02	-2.35	17	153	30	-69	-141	17	-14
Net Cash From Operating Activities	49	29	39	22	138	193	79	49	1.65	47	70
Net Cash From Continuing Operating Activities	67	29	35	34	142	202	79	49	1.65	47	70
Net Income / (Loss) Continuing Operations	21	-6.19	0.54	-15	11	56	0.00	0.00	0.00	0.00	0.00
Consolidated Net Income / (Loss)	10	-6.19	-8.18	-31	-6.29	49	66	49	-34	14	57
Depreciation Expense	50	65	55	56	50	37	38	43	46	43	43
Amortization Expense	1.45	2.77	2.44	3.28	3.50	2.75	1.61	2.35	12	12	24
Non-Cash Adjustments To Reconcile Net Income	12	5.70	-6.20	38	73	41	-27	-21	-19	23	-3.54
Changes in Operating Assets and Liabilities, net	-17	-38	-17	-48	3.88	65	0.07	-25	-4.11	-44	-51
Net Cash From Investing Activities	-117	-73	-66	-58	-35	-26	-43	-112	-141	-120	-116
Net Cash From Continuing Investing Activities	-122	-73	-73	-57	-36	-44	-43	-112	-141	-120	-116
Purchase of Property, Plant & Equipment	-92	-74	-83	-66	-49	-49	-48	-117	-143	-151	-125
Sale of Property, Plant & Equipment	0.07	1.32	10	8.59	14	5.59	4.45	4.46	2.10	31	9.45
Net Cash From Financing Activities	35	16	31	34	-85	-14	-6.26	-5.86	-1.66	90	32
Net Cash From Continuing Financing Activities	35	16	32	35	-84	-14	-6.26	-5.86	-1.66	90	32
Repayment of Debt	-272	-166	-250	-411	-113	-12	0.00	-325	-10	-118	-141
Repurchase of Common Equity	-2.53	-1.54	-6.82	-5.02	0.00	-2.39	-3.87	-4.40	-0.98	0.00	-12
Issuance of Debt	309	183	289	450	29	0.00	0.00	325	10	208	186
Other Financing Activities, net	1.28	1.04	0.60	0.56	-0.11	-0.17	-2.39	-1.46	-0.68	-0.07	-1.35
Cash Interest Paid	19	25	27	35	31	25	26	23	18	21	30
Cash Income Taxes Paid	-11	0.59	0.20	0.37	0.29	0.37	0.39	0.64	1.26	0.13	2.49

This table details how cash moves in and out of Great Lakes Dredge & Dock's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-39	-32	26	9.55	-28	9.67	-0.04	-0.59	-11	-1.82	1.12
Net Cash From Operating Activities	-7.50	8.30	9.32	25	15	-2.15	38	18	27	-14	61
Net Cash From Continuing Operating Activities	-7.50	8.30	9.32	25	15	-2.15	38	18	27	-14	61
Net Income / (Loss) Continuing Operations	-9.91	2.89	-3.23	1.73	-6.15	7.65	21	7.67	8.85	-38	33
Consolidated Net Income / (Loss)	-9.91	-31	-3.23	1.73	-6.15	22	21	7.67	8.85	20	33
Depreciation Expense	11	12	11	11	11	10	11	11	10	10	11
Amortization Expense	0.27	12	0.24	5.23	1.83	5.13	4.66	9.03	5.30	9.91	4.26
Non-Cash Adjustments To Reconcile Net Income	5.06	9.78	-13	52	1.08	-17	-13	1.76	-23	30	1.29
Changes in Operating Assets and Liabilities, net	-14	5.85	14	-45	8.19	-22	15	-11	26	-84	11
Net Cash From Investing Activities	-31	-40	-34	-20	-43	-23	-8.27	-47	-38	-22	-21
Net Cash From Continuing Investing Activities	-31	-40	-34	-20	-43	-23	-8.27	-47	-38	-22	-21
Purchase of Property, Plant & Equipment	-31	-40	-34	-21	-43	-53	-12	-52	-38	-23	-21
Sale of Property, Plant & Equipment	0.04	-	0.06	1.13	0.04	29	3.64	5.39	0.30	0.12	0.53
Net Cash From Financing Activities	-0.26	-0.15	50	4.79	-0.07	35	-30	28	0.10	34	-39
Net Cash From Continuing Financing Activities	-0.26	-0.15	50	4.79	-0.07	35	-30	28	0.10	34	-39
Repayment of Debt	-	-10	-25	-	-40	-53	-30	-76	-15	-20	-90
Repurchase of Common Equity	-	-0.15	0.00	-	-	-	0.00	-11	0.36	-0.67	-3.17
Issuance of Debt	-	10	75	5.00	40	88	0.00	116	15	55	55
Other Financing Activities, net	0.57	-	0.23	-0.21	-0.07	-0.02	-0.21	-0.74	-0.26	-0.14	-0.85
Cash Interest Paid	0.15	8.79	0.54	9.42	0.79	10.00	2.07	12	3.65	12	3.64
Cash Income Taxes Paid	0.03	-0.00	-0.05	0.30	0.02	-0.15	0.18	1.30	0.02	1.00	0.08

This table presents Great Lakes Dredge & Dock's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	893	898	894	832	730	898	958	998	982	1,111	1,255
Total Current Assets	342	330	307	262	207	301	363	327	183	226	263
Cash & Equivalents	42	14	11	16	34	187	217	145	6.55	23	10
Accounts Receivable	196	212	183	52	65	20	39	83	45	55	118
Inventories, net	35	36	37	34	28	30	35	31	29	34	30
Prepaid Expenses	4.71	7.92	12	5.03	4.71	1.53	3.09	2.02	1.57	1.49	2.83
Other Current Assets	65	60	63	117	50	62	69	66	101	113	102
Plant, Property, & Equipment, net	399	430	413	397	370	375	383	455	544	615	703
Total Noncurrent Assets	152	138	173	173	154	222	212	215	255	270	288
Goodwill	86	84	84	77	77	77	77	77	77	77	77
Other Noncurrent Operating Assets	48	48	74	97	77	146	136	139	178	193	212
Total Liabilities & Shareholders' Equity	893	898	894	832	730	898	958	998	982	1,111	1,255
Total Liabilities	637	646	646	611	515	618	611	599	614	725	806
Total Current Liabilities	201	206	180	150	163	204	176	155	160	179	216
Accounts Payable	120	119	103	65	72	76	71	86	94	84	101
Accrued Expenses	70	72	69	52	48	51	53	38	29	37	42
Current Deferred Revenue	4.64	7.06	5.14	2.59	18	55	33	15	9.91	30	26
Other Current Liabilities	-	-	-	-	12	21	19	17	27	29	47
Total Noncurrent Liabilities	437	440	466	461	352	414	435	444	453	546	590
Long-Term Debt	324	346	390	428	322	323	324	321	322	412	448
Noncurrent Deferred & Payable Income Tax Liabilities	92	74	68	26	23	36	56	68	59	62	79
Other Noncurrent Operating Liabilities	20	20	7.01	6.34	7.28	56	55	54	73	72	63
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	256	252	248	221	215	279	347	399	368	386	449
Total Preferred & Common Equity	256	252	248	221	215	279	347	399	368	386	449
Total Common Equity	256	252	248	221	215	279	347	399	368	386	449
Common Stock	278	283	286	290	295	302	305	308	312	317	322
Retained Earnings	-21	-28	-36	-67	-75	-23	41	90	56	70	127
Treasury Stock	-	-1.43	-1.43	-1.43	-1.43	-	-	-	-	-	0.00
Accumulated Other Comprehensive Income / (Loss)	-0.73	-1.98	-1.15	0.00	-3.81	0.30	0.97	0.14	-0.19	-2.02	-0.97

This table presents Great Lakes Dredge & Dock's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	1,015	1,004	1,025	1,008	1,020	1,095	1,128	1,145	1,233
Total Current Assets	283	233	209	190	168	211	219	215	258
Cash & Equivalents	75	39	33	42	14	23	23	12	11
Accounts Receivable	69	69	33	43	30	40	56	43	113
Inventories, net	31	27	29	32	32	32	32	35	26
Prepaid Expenses	45	36	33	30	42	2.03	2.26	1.44	2.29
Other Current Assets	63	62	81	43	49	114	106	124	105
Plant, Property, & Equipment, net	495	518	562	570	606	613	653	682	704
Total Noncurrent Assets	9.58	253	255	247	246	271	255	249	272
Goodwill	77	77	77	77	77	77	77	77	77
Other Noncurrent Operating Assets	151	176	178	170	169	194	179	172	195
Total Liabilities & Shareholders' Equity	1,015	1,004	1,025	1,008	1,020	1,095	1,128	1,145	1,233
Total Liabilities	603	607	661	639	654	686	710	720	754
Total Current Liabilities	142	147	163	141	164	168	166	178	193
Accounts Payable	96	81	88	65	74	90	90	95	90
Accrued Expenses	25	38	37	26	34	32	28	44	33
Current Deferred Revenue	2.61	5.45	12	24	29	18	21	16	30
Other Current Liabilities	18	23	26	26	26	28	27	23	39
Total Noncurrent Liabilities	461	460	498	498	490	518	544	542	560
Long-Term Debt	321	321	372	377	377	382	411	413	414
Noncurrent Deferred & Payable Income Tax Liabilities	73	67	58	59	58	70	72	74	89
Other Noncurrent Operating Liabilities	67	71	68	62	55	66	60	56	58
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	412	397	364	369	366	409	418	425	480
Total Preferred & Common Equity	412	397	364	369	366	409	418	425	480
Total Common Equity	412	397	364	369	366	409	418	425	480
Common Stock	309	311	313	314	316	319	320	321	323
Retained Earnings	97	87	53	55	49	91	99	108	161
Treasury Stock	-	-	-	-	-	-	-	-	-3.17
Accumulated Other Comprehensive Income / (Loss)	6.00	-1.22	-1.60	-0.62	1.53	-0.73	-0.68	-3.34	-0.60

This table displays calculated financial ratios and metrics derived from Great Lakes Dredge & Dock's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.31%	6.20%	-25.61%	-7.11%	4.84%	14.61%	3.10%	-1.02%	-10.65%	-9.12%	29.35%
EBITDA Growth	-18.30%	2.84%	-2.32%	-52.56%	170.11%	33.11%	10.36%	-14.99%	-77.34%	190.40%	87.83%
EBIT Growth	-42.89%	-46.22%	52.03%	-187.12%	340.92%	96.77%	14.66%	-25.21%	-134.71%	203.91%	206.27%
NOPAT Growth	59.76%	-70.12%	149.27%	-133.71%	360.87%	118.62%	11.16%	-23.33%	-129.58%	210.37%	228.98%
Net Income Growth	129.42%	-160.12%	-32.12%	-282.29%	79.87%	884.03%	33.98%	-25.22%	-168.89%	140.83%	311.80%
EPS Growth	129.82%	-158.82%	-30.00%	-292.31%	80.39%	860.00%	31.58%	-25.00%	-169.33%	140.38%	300.00%
Operating Cash Flow Growth	-34.78%	-40.33%	32.79%	-44.35%	539.71%	39.88%	-59.00%	-37.92%	-96.63%	2,769.03%	47.73%
Free Cash Flow Firm Growth	-218.19%	40.87%	133.85%	-303.49%	794.72%	-9.72%	-69.40%	-217.03%	-133.04%	45.24%	40.65%
Invested Capital Growth	26.98%	9.63%	4.77%	1.78%	-21.52%	-15.55%	9.31%	26.57%	18.92%	13.41%	14.47%
Revenue Q/Q Growth	3.76%	-2.60%	-17.94%	-0.32%	17.36%	-1.24%	1.08%	5.49%	-8.89%	6.32%	2.84%
EBITDA Q/Q Growth	-1.64%	-1.70%	-3.47%	-37.14%	46.79%	2.81%	-2.06%	16.84%	-67.53%	444.71%	10.85%
EBIT Q/Q Growth	-17.09%	-6.62%	25.68%	-300.94%	317.06%	6.67%	-2.96%	27.20%	-166.54%	183.11%	-0.88%
NOPAT Q/Q Growth	120.37%	-94.22%	147.48%	-244.39%	268.84%	14.93%	-6.28%	22.77%	-156.49%	178.46%	0.12%
Net Income Q/Q Growth	150.97%	-145.31%	-303.01%	1.41%	-22.67%	92.23%	-7.51%	39.90%	-256.07%	135.82%	-3.12%
EPS Q/Q Growth	153.13%	0.00%	0.00%	0.00%	-11.11%	90.00%	-8.26%	44.23%	-252.94%	142.00%	29.23%
Operating Cash Flow Q/Q Growth	-40.74%	-15.92%	-15.93%	-23.94%	27.63%	-13.27%	-17.13%	7.10%	465.71%	-18.06%	-13.96%
Free Cash Flow Firm Q/Q Growth	-353.39%	-125.13%	181.34%	-107.50%	176.00%	-24.84%	-31.18%	-32.08%	-3.89%	8.50%	-56.07%
Invested Capital Q/Q Growth	17.30%	-1.04%	-1.46%	103.71%	-9.08%	2.89%	6.38%	10.11%	0.55%	6.31%	7.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	11.46%	11.19%	13.39%	7.22%	17.95%	21.61%	23.34%	20.01%	4.80%	13.18%	21.05%
EBITDA Margin	10.01%	9.69%	12.72%	6.50%	16.74%	19.44%	20.81%	17.87%	4.53%	14.49%	21.04%
Operating Margin	2.96%	2.68%	4.23%	-3.26%	8.48%	13.79%	15.24%	11.49%	-4.28%	4.79%	12.17%
EBIT Margin	3.61%	1.83%	3.74%	-3.51%	8.06%	13.84%	15.39%	11.63%	-4.52%	5.16%	12.23%
Profit (Net Income) Margin	1.28%	-0.72%	-1.28%	-5.28%	-1.01%	6.93%	9.01%	6.81%	-5.25%	2.36%	7.51%
Tax Burden Percent	112.05%	71.25%	-2,240.27%	63.63%	-38.25%	69.57%	76.61%	78.68%	78.44%	75.94%	75.96%
Interest Burden Percent	31.51%	-55.40%	1.53%	236.57%	32.89%	72.04%	76.45%	74.41%	148.14%	60.13%	80.83%
Effective Tax Rate	-125.49%	0.00%	-48.49%	0.00%	33.05%	21.51%	23.39%	21.32%	0.00%	24.06%	24.04%
Return on Invested Capital (ROIC)	11.23%	2.86%	6.66%	-2.17%	6.30%	16.98%	19.70%	12.77%	-3.09%	2.94%	8.49%
ROIC Less NNEP Spread (ROIC-NNEP)	-7.68%	-4.37%	-7.06%	-6.77%	-5.88%	3.57%	3.64%	1.30%	-9.06%	0.80%	5.29%
Return on Net Nonoperating Assets (RNNOA)	-7.10%	-5.30%	-9.93%	-11.15%	-9.19%	2.98%	1.42%	0.49%	-5.79%	0.75%	5.24%
Return on Equity (ROE)	4.13%	-2.44%	-3.27%	-13.33%	-2.89%	19.96%	21.12%	13.26%	-8.88%	3.69%	13.73%
Cash Return on Invested Capital (CROIC)	-12.55%	-6.33%	2.00%	-3.94%	30.41%	33.85%	10.81%	-10.69%	-20.37%	-9.62%	-5.01%
Operating Return on Assets (OROA)	3.34%	1.75%	2.66%	-2.41%	6.40%	12.10%	12.17%	8.63%	-2.96%	2.91%	7.88%
Return on Assets (ROA)	1.18%	-0.69%	-0.91%	-3.62%	-0.81%	6.06%	7.12%	5.06%	-3.44%	1.33%	4.84%
Return on Common Equity (ROCE)	4.14%	-2.44%	-3.27%	-13.33%	-2.89%	19.96%	21.12%	13.26%	-8.88%	3.69%	13.73%
Return on Equity Simple (ROE_SIMPLE)	4.02%	-2.45%	-3.30%	-14.13%	-2.93%	17.66%	19.07%	12.39%	-9.25%	3.61%	12.76%
Net Operating Profit after Tax (NOPAT)	54	16	40	-14	35	77	86	66	-19	21	70
NOPAT Margin	6.67%	1.88%	6.28%	-2.28%	5.68%	10.83%	11.67%	9.04%	-2.99%	3.63%	9.24%
Net Nonoperating Expense Percent (NNEP)	18.91%	7.24%	13.72%	4.59%	12.18%	13.42%	16.06%	11.47%	5.97%	2.14%	3.20%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-2.81%	2.69%	7.86%
Cost of Revenue to Revenue	88.54%	88.81%	86.61%	92.78%	82.05%	78.39%	76.66%	79.99%	95.20%	86.82%	78.95%
SG&A Expenses to Revenue	8.42%	8.29%	8.67%	9.67%	8.88%	8.31%	8.55%	8.56%	7.88%	9.68%	9.28%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.51%	8.52%	9.16%	10.47%	9.48%	7.82%	8.11%	8.56%	9.08%	8.40%	8.89%
Earnings before Interest and Taxes (EBIT)	29	16	24	-21	50	98	113	84	-29	30	93
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	81	83	81	38	104	138	153	130	29	85	160
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.01	0.95	1.03	1.51	1.92	2.59	2.47	2.59	1.07	1.33	1.69
Price to Tangible Book Value (P/TBV)	3.20	1.44	1.57	2.30	2.99	3.57	3.17	3.21	1.35	1.66	2.04
Price to Revenue (P/Rev)	0.64	0.28	0.40	0.56	0.67	1.02	1.17	1.42	0.61	0.87	1.00
Price to Earnings (P/E)	50.00	0.00	0.00	0.00	0.00	14.68	12.94	20.91	0.00	36.79	13.26
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.00%	0.00%	0.00%	0.00%	0.00%	6.81%	7.73%	4.78%	0.00%	2.72%	7.54%
Enterprise Value to Invested Capital (EV/IC)	1.48	0.98	1.03	1.19	1.43	2.07	2.12	2.10	1.04	1.16	1.35
Enterprise Value to Revenue (EV/Rev)	0.99	0.67	0.99	1.26	1.13	1.21	1.31	1.66	1.09	1.53	1.57
Enterprise Value to EBITDA (EV/EBITDA)	9.84	6.92	7.80	19.40	6.75	6.22	6.31	9.31	24.09	10.55	7.46
Enterprise Value to EBIT (EV/EBIT)	27.26	36.66	26.55	0.00	14.01	8.74	8.53	14.32	0.00	29.58	12.84
Enterprise Value to NOPAT (EV/NOPAT)	14.78	35.76	15.80	0.00	19.90	11.17	11.25	18.42	0.00	42.04	16.99
Enterprise Value to Operating Cash Flow (EV/OCF)	16.28	19.73	16.37	34.69	5.09	4.47	12.20	24.67	428.73	18.99	17.09
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	52.62	0.00	4.12	5.60	20.50	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.29	1.40	1.58	1.94	1.50	1.16	0.93	0.80	0.87	1.07	1.00
Long-Term Debt to Equity	1.27	1.37	1.57	1.93	1.50	1.16	0.93	0.80	0.87	1.07	1.00
Financial Leverage	0.92	1.21	1.41	1.65	1.56	0.83	0.39	0.38	0.64	0.93	0.99
Leverage Ratio	3.51	3.53	3.58	3.68	3.58	3.29	2.96	2.62	2.58	2.78	2.84
Compound Leverage Factor	1.10	-1.95	0.05	8.70	1.18	2.37	2.27	1.95	3.82	1.67	2.29
Debt to Total Capital	56.34%	58.35%	61.31%	65.99%	59.97%	53.61%	48.29%	44.58%	46.61%	51.66%	49.96%
Short-Term Debt to Total Capital	1.00%	1.24%	0.38%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	55.34%	57.11%	60.93%	65.80%	59.97%	53.61%	48.29%	44.58%	46.61%	51.66%	49.96%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	43.66%	41.65%	38.69%	34.01%	40.03%	46.39%	51.71%	55.42%	53.39%	48.34%	50.04%
Debt to EBITDA	4.09	4.26	4.84	11.16	3.10	2.33	2.12	2.47	10.93	4.82	2.79
Net Debt to EBITDA	3.47	4.04	4.65	10.75	2.77	0.98	0.70	1.35	10.71	4.56	2.73
Long-Term Debt to EBITDA	4.02	4.16	4.81	11.13	3.10	2.33	2.12	2.47	10.93	4.82	2.79
Debt to NOPAT	6.14	21.98	9.81	-31.79	9.14	4.19	3.78	4.89	-16.56	19.23	6.36
Net Debt to NOPAT	5.21	20.87	9.41	-30.62	8.16	1.76	1.25	2.67	-16.22	18.16	6.21
Long-Term Debt to NOPAT	6.03	21.52	9.75	-31.70	9.14	4.19	3.78	4.89	-16.56	19.23	6.36
Altman Z-Score	1.65	1.36	1.15	1.00	1.49	1.95	2.29	2.38	1.06	1.18	1.61
Noncontrolling Interest Sharing Ratio	-0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.71	1.60	1.71	1.75	1.27	1.47	2.06	2.12	1.14	1.26	1.22
Quick Ratio	1.19	1.10	1.08	0.45	0.61	1.01	1.45	1.48	0.32	0.43	0.59
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-60	-36	12	-24	170	154	47	-55	-128	-70	-42
Operating Cash Flow to CapEx	53.14%	39.82%	53.12%	37.48%	387.30%	439.41%	182.87%	43.68%	1.17%	39.47%	60.56%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.92	0.96	0.71	0.69	0.79	0.87	0.79	0.74	0.66	0.56	0.64
Accounts Receivable Turnover	4.49	4.20	3.23	5.04	10.64	16.83	24.96	11.91	10.15	11.83	8.83
Inventory Turnover	21.25	21.53	15.11	15.35	16.29	19.13	17.34	17.75	20.59	16.21	18.88
Fixed Asset Turnover	2.17	2.07	1.51	1.46	1.62	1.91	1.94	1.73	1.30	1.02	1.16
Accounts Payable Turnover	6.05	6.37	4.97	6.53	7.45	7.56	7.63	7.41	6.88	5.75	6.50
Days Sales Outstanding (DSO)	81.36	86.84	113.11	72.44	34.31	21.69	14.62	30.65	35.96	30.86	41.36
Days Inventory Outstanding (DIO)	17.18	16.96	24.16	23.77	22.41	19.08	21.05	20.56	17.73	22.51	19.33
Days Payable Outstanding (DPO)	60.32	57.28	73.39	55.92	48.98	48.30	47.83	49.29	53.08	63.43	56.12
Cash Conversion Cycle (CCC)	38.22	46.52	63.88	40.30	7.75	-7.54	-12.16	1.92	0.60	-10.06	4.57
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	536	588	616	627	492	415	454	575	683	775	887
Invested Capital Turnover	1.68	1.53	1.06	0.95	1.11	1.57	1.69	1.41	1.03	0.81	0.92
Increase / (Decrease) in Invested Capital	114	52	28	11	-135	-76	39	121	109	92	112
Enterprise Value (EV)	795	575	633	747	701	860	963	1,209	709	901	1,198
Market Capitalization	515	239	256	333	414	724	856	1,033	394	512	760
Book Value per Share	$4.26	$4.17	$4.07	$3.59	$3.44	$4.37	$5.34	$6.07	$5.56	$5.79	$6.67
Tangible Book Value per Share	$2.67	$2.75	$2.67	$2.35	$2.21	$3.17	$4.16	$4.90	$4.41	$4.64	$5.53
Total Capital	586	605	641	651	537	602	670	720	690	798	897
Total Debt	330	353	393	429	322	323	324	321	322	412	448
Total Long-Term Debt	324	346	390	428	322	323	324	321	322	412	448
Net Debt	280	335	377	414	287	136	107	176	315	389	438
Capital Expenditures (CapEx)	92	73	73	57	36	44	43	112	141	120	116
Debt-free, Cash-free Net Working Capital (DFCFNWC)	105	117	119	97	9.12	-90	-30	27	16	24	37
Debt-free Net Working Capital (DFNWC)	148	132	130	113	44	97	186	173	23	47	47
Net Working Capital (NWC)	142	124	127	112	44	97	186	173	23	47	47
Net Nonoperating Expense (NNE)	43	22	48	18	42	28	20	16	15	7.52	13
Net Nonoperating Obligations (NNO)	280	335	368	405	277	136	107	176	315	389	438
Total Depreciation and Amortization (D&A)	52	67	57	59	54	40	40	45	59	55	67
Debt-free, Cash-free Net Working Capital to Revenue	13.04%	13.70%	18.62%	16.43%	1.47%	-12.68%	-4.10%	3.75%	2.46%	4.08%	4.88%
Debt-free Net Working Capital to Revenue	18.29%	15.35%	20.37%	19.11%	7.02%	13.60%	25.41%	23.78%	3.47%	7.95%	6.22%
Net Working Capital to Revenue	17.57%	14.48%	19.98%	18.90%	7.02%	13.60%	25.41%	23.78%	3.47%	7.95%	6.22%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.18	($0.10)	($0.13)	($0.51)	($0.10)	$0.78	$1.02	$0.75	($0.52)	$0.21	$0.85
Adjusted Weighted Average Basic Shares Outstanding	59.94M	60.41M	60.74M	61.37M	62.24M	63.60M	64.74M	65.59M	66.05M	66.47M	67.09M
Adjusted Diluted Earnings per Share	$0.17	($0.10)	($0.13)	($0.51)	($0.10)	$0.76	$1.00	$0.75	($0.52)	$0.21	$0.84
Adjusted Weighted Average Diluted Shares Outstanding	60.52M	60.41M	60.74M	61.37M	63.61M	65.04M	65.87M	66.30M	66.05M	66.96M	67.85M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	60.24M	60.43M	60.96M	61.62M	62.65M	64.29M	65.12M	65.75M	66.19M	66.62M	67.28M
Normalized Net Operating Profit after Tax (NOPAT)	17	17	21	-10	38	78	84	66	-19	21	70
Normalized NOPAT Margin	2.13%	2.03%	3.30%	-1.71%	6.08%	10.95%	11.51%	9.04%	-2.99%	3.63%	9.24%
Pre Tax Income Margin	1.14%	-1.01%	0.06%	-8.30%	2.65%	9.97%	11.76%	8.65%	-6.69%	3.11%	9.88%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	1.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	26.59%	-24.95%	-83.38%	-16.07%	0.00%	4.84%	5.86%	8.89%	-2.88%	0.00%	20.19%

This table displays calculated financial ratios and metrics derived from Great Lakes Dredge & Dock's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.10%	-30.15%	-18.68%	-11.22%	-25.99%	23.91%	25.70%	28.21%	63.14%	11.58%	22.25%
EBITDA Growth	-95.06%	-126.11%	-65.15%	108.92%	345.92%	462.66%	312.90%	59.33%	350.45%	9.20%	35.26%
EBIT Growth	-145.78%	-199.09%	-103.47%	490.15%	46.41%	183.78%	5,108.48%	157.94%	424.82%	-2.72%	55.39%
NOPAT Growth	-138.04%	-193.08%	-104.18%	1,153.35%	45.81%	192.22%	4,006.29%	322.05%	443.23%	0.59%	56.55%
Net Income Growth	-171.78%	-226.15%	-129.22%	142.97%	37.90%	169.16%	750.70%	342.76%	243.84%	-8.54%	58.94%
EPS Growth	-171.43%	-226.32%	-129.41%	150.00%	100.00%	147.92%	720.00%	266.67%	0.00%	82.61%	58.06%
Operating Cash Flow Growth	-204.02%	33.96%	-64.59%	197.28%	306.48%	-125.92%	312.46%	-25.87%	72.95%	-528.21%	58.30%
Free Cash Flow Firm Growth	-111.47%	-44.49%	-43.40%	64.82%	67.78%	49.49%	62.07%	-76.82%	-60.16%	-30.07%	-85.07%
Invested Capital Growth	30.22%	18.92%	18.39%	8.45%	7.26%	13.41%	9.28%	14.66%	13.32%	14.47%	14.85%
Revenue Q/Q Growth	5.97%	-7.38%	7.76%	-16.06%	-11.67%	55.08%	9.32%	-14.38%	12.40%	6.07%	19.77%
EBITDA Q/Q Growth	-84.65%	-887.99%	143.90%	109.22%	-67.24%	540.86%	5.20%	-19.27%	-7.37%	55.36%	28.35%
EBIT Q/Q Growth	-563.89%	-276.12%	98.26%	995.45%	-191.18%	688.08%	4.31%	-53.88%	14.82%	76.12%	66.62%
NOPAT Q/Q Growth	-2,664.04%	-288.37%	97.65%	516.95%	-242.21%	760.86%	-0.31%	-54.95%	15.65%	93.67%	55.15%
Net Income Q/Q Growth	-145.72%	-214.52%	89.63%	153.64%	-455.11%	450.31%	-2.48%	-63.50%	15.37%	122.73%	69.49%
EPS Q/Q Growth	-150.00%	-220.00%	89.58%	160.00%	-100.00%	0.00%	-3.13%	-64.52%	-100.00%	0.00%	16.67%
Operating Cash Flow Q/Q Growth	70.57%	210.76%	12.24%	165.85%	-37.52%	-113.90%	1,886.29%	-52.22%	45.75%	-150.50%	550.14%
Free Cash Flow Firm Q/Q Growth	-10.53%	18.21%	18.27%	52.39%	-1.23%	-28.23%	38.63%	-121.97%	8.31%	-4.14%	12.68%
Invested Capital Q/Q Growth	4.78%	0.55%	2.92%	0.01%	3.63%	6.31%	-0.82%	4.93%	2.42%	7.39%	-0.49%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	2.40%	-11.02%	7.68%	13.49%	7.71%	21.28%	22.94%	17.54%	18.95%	24.13%	28.63%
EBITDA Margin	1.01%	-8.63%	6.61%	16.49%	6.12%	25.27%	21.73%	20.49%	16.88%	24.73%	26.50%
Operating Margin	-5.97%	-25.03%	-0.55%	2.77%	-4.37%	16.80%	15.85%	8.58%	8.73%	14.82%	20.56%
EBIT Margin	-6.13%	-24.89%	-0.40%	4.30%	-4.44%	16.83%	16.06%	8.65%	8.84%	14.67%	20.41%
Profit (Net Income) Margin	-6.26%	-21.25%	-2.04%	1.31%	-5.25%	11.86%	10.58%	4.51%	4.63%	9.72%	13.76%
Tax Burden Percent	74.75%	78.68%	80.33%	68.53%	77.28%	77.64%	75.05%	72.97%	73.73%	79.34%	74.05%
Interest Burden Percent	136.59%	108.51%	631.40%	44.34%	153.11%	90.79%	87.80%	71.47%	71.07%	83.52%	91.02%
Effective Tax Rate	0.00%	0.00%	0.00%	31.47%	0.00%	22.36%	24.95%	27.03%	26.27%	20.66%	25.95%
Return on Invested Capital (ROIC)	-4.95%	-18.08%	-0.36%	1.68%	-2.41%	10.55%	10.19%	5.53%	6.14%	10.79%	14.89%
ROIC Less NNEP Spread (ROIC-NNEP)	-6.49%	-20.31%	-1.38%	1.40%	-3.21%	9.94%	9.44%	4.71%	5.24%	9.80%	13.95%
Return on Net Nonoperating Assets (RNNOA)	-3.61%	-12.98%	-0.91%	1.02%	-2.71%	9.29%	8.53%	4.33%	5.05%	9.71%	11.96%
Return on Equity (ROE)	-8.57%	-31.06%	-1.28%	2.70%	-5.12%	19.83%	18.72%	9.87%	11.19%	20.50%	26.84%
Cash Return on Invested Capital (CROIC)	-20.53%	-20.37%	-21.96%	-12.60%	-10.89%	-9.62%	-2.63%	-6.50%	-3.43%	-5.01%	-3.67%
Operating Return on Assets (OROA)	-4.47%	-16.32%	-0.24%	2.53%	-2.43%	9.48%	9.55%	5.41%	6.05%	9.46%	14.15%
Return on Assets (ROA)	-4.56%	-13.93%	-1.23%	0.77%	-2.88%	6.69%	6.29%	2.82%	3.17%	6.27%	9.54%
Return on Common Equity (ROCE)	-8.57%	-31.06%	-1.28%	2.70%	-5.12%	19.83%	18.72%	9.87%	11.19%	20.50%	26.84%
Return on Equity Simple (ROE_SIMPLE)	5.50%	0.00%	-13.28%	-11.55%	-10.61%	0.00%	9.33%	10.55%	13.89%	0.00%	14.51%
Net Operating Profit after Tax (NOPAT)	-6.62	-26	-0.60	2.52	-3.59	24	24	11	12	24	37
NOPAT Margin	-4.18%	-17.52%	-0.38%	1.90%	-3.06%	13.04%	11.89%	6.26%	6.44%	11.76%	15.23%
Net Nonoperating Expense Percent (NNEP)	1.53%	2.23%	1.01%	0.28%	0.80%	0.61%	0.74%	0.82%	0.91%	1.00%	0.94%
Return On Investment Capital (ROIC_SIMPLE)	-	-3.73%	-	-	-	2.97%	-	-	-	2.66%	4.14%
Cost of Revenue to Revenue	97.60%	111.02%	92.32%	86.51%	92.29%	78.72%	77.06%	82.46%	81.05%	75.87%	71.37%
SG&A Expenses to Revenue	8.39%	8.46%	8.24%	10.90%	12.11%	8.47%	8.11%	9.50%	10.37%	9.21%	8.25%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.37%	14.01%	8.22%	10.72%	12.08%	4.48%	7.10%	8.97%	10.22%	9.31%	8.06%
Earnings before Interest and Taxes (EBIT)	-9.71	-37	-0.64	5.70	-5.20	31	32	15	17	30	50
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1.61	-13	10	22	7.17	46	43	35	32	50	64
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.26	1.07	0.99	1.47	1.45	1.33	1.42	1.41	1.66	1.69	1.22
Price to Tangible Book Value (P/TBV)	1.56	1.35	1.25	1.86	1.83	1.66	1.75	1.72	2.03	2.04	1.45
Price to Revenue (P/Rev)	0.70	0.61	0.59	0.91	0.96	0.87	0.92	0.88	0.95	1.00	0.73
Price to Earnings (P/E)	22.96	0.00	0.00	0.00	0.00	36.79	15.27	13.34	11.97	13.26	8.40
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.36%	0.00%	0.00%	0.00%	0.00%	2.72%	6.55%	7.50%	8.35%	7.54%	11.90%
Enterprise Value to Invested Capital (EV/IC)	1.15	1.04	0.99	1.25	1.23	1.16	1.23	1.21	1.34	1.35	1.12
Enterprise Value to Revenue (EV/Rev)	1.10	1.09	1.14	1.47	1.61	1.53	1.50	1.46	1.49	1.57	1.22
Enterprise Value to EBITDA (EV/EBITDA)	8.65	24.09	0.00	86.61	56.93	10.55	8.83	8.16	7.66	7.46	5.57
Enterprise Value to EBIT (EV/EBIT)	17.79	0.00	0.00	0.00	0.00	29.58	14.96	13.56	11.78	12.84	8.91
Enterprise Value to NOPAT (EV/NOPAT)	22.79	0.00	0.00	0.00	0.00	42.04	20.53	18.08	15.73	16.99	11.79
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	428.73	0.00	25.12	15.42	18.99	12.31	13.93	13.61	17.09	10.68
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.81	0.87	1.02	1.02	1.03	1.07	0.93	0.98	0.97	1.00	0.86
Long-Term Debt to Equity	0.81	0.87	1.02	1.02	1.03	1.07	0.93	0.98	0.97	1.00	0.86
Financial Leverage	0.56	0.64	0.66	0.73	0.85	0.93	0.90	0.92	0.96	0.99	0.86
Leverage Ratio	2.53	2.58	2.62	2.59	2.65	2.78	2.74	2.71	2.74	2.84	2.62
Compound Leverage Factor	3.46	2.80	16.56	1.15	4.06	2.52	2.41	1.94	1.94	2.37	2.38
Debt to Total Capital	44.74%	46.61%	50.52%	50.56%	50.74%	51.66%	48.30%	49.61%	49.23%	49.96%	46.31%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	44.74%	46.61%	50.52%	50.56%	50.74%	51.66%	48.30%	49.61%	49.23%	49.96%	46.31%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	55.26%	53.39%	49.48%	49.45%	49.26%	48.34%	51.70%	50.39%	50.77%	50.04%	53.69%
Debt to EBITDA	3.55	10.93	-290.13	37.23	24.04	4.82	3.58	3.44	2.85	2.79	2.34
Net Debt to EBITDA	3.12	10.71	-264.75	33.07	23.14	4.56	3.37	3.25	2.77	2.73	2.27
Long-Term Debt to EBITDA	3.55	10.93	-290.13	37.23	24.04	4.82	3.58	3.44	2.85	2.79	2.34
Debt to NOPAT	9.35	-16.56	-11.21	-12.42	-13.80	19.23	8.33	7.62	5.86	6.36	4.94
Net Debt to NOPAT	8.22	-16.22	-10.23	-11.03	-13.28	18.16	7.83	7.19	5.69	6.21	4.80
Long-Term Debt to NOPAT	9.35	-16.56	-11.21	-12.42	-13.80	19.23	8.33	7.62	5.86	6.36	4.94
Altman Z-Score	1.40	1.03	1.05	1.25	1.08	1.18	1.34	1.31	1.46	1.44	1.50
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.58	1.14	1.28	1.35	1.02	1.26	1.25	1.32	1.21	1.22	1.33
Quick Ratio	0.73	0.32	0.40	0.60	0.27	0.43	0.38	0.48	0.31	0.59	0.65
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-164	-134	-110	-52	-53	-68	-42	-92	-85	-88	-77
Operating Cash Flow to CapEx	-24.32%	20.54%	27.76%	123.74%	35.68%	-9.29%	464.77%	39.12%	70.50%	-60.11%	293.73%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.73	0.66	0.60	0.59	0.55	0.56	0.59	0.63	0.68	0.64	0.69
Accounts Receivable Turnover	12.68	10.15	17.55	10.60	11.20	11.83	17.24	13.45	20.36	8.83	10.49
Inventory Turnover	21.19	20.59	20.39	18.29	17.84	16.21	17.10	17.01	17.58	18.88	21.42
Fixed Asset Turnover	1.50	1.30	1.19	1.12	0.99	1.02	1.07	1.09	1.15	1.16	1.23
Accounts Payable Turnover	8.06	6.88	6.47	7.18	6.83	5.75	5.84	7.00	7.00	6.50	6.92
Days Sales Outstanding (DSO)	28.80	35.96	20.80	34.42	32.58	30.86	21.18	27.15	17.93	41.36	34.78
Days Inventory Outstanding (DIO)	17.22	17.73	17.90	19.95	20.46	22.51	21.35	21.46	20.76	19.33	17.04
Days Payable Outstanding (DPO)	45.30	53.08	56.46	50.83	53.40	63.43	62.48	52.17	52.14	56.12	52.77
Cash Conversion Cycle (CCC)	0.72	0.60	-17.75	3.54	-0.36	-10.06	-19.96	-3.56	-13.46	4.57	-0.94
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	679	683	703	703	729	775	768	806	826	887	883
Invested Capital Turnover	1.19	1.03	0.94	0.88	0.79	0.81	0.86	0.88	0.95	0.92	0.98
Increase / (Decrease) in Invested Capital	158	109	109	55	49	92	65	103	97	112	114
Enterprise Value (EV)	783	709	699	877	893	901	942	977	1,108	1,198	988
Market Capitalization	501	394	359	542	530	512	583	588	707	760	585
Book Value per Share	$6.01	$5.56	$5.50	$5.55	$5.50	$5.79	$6.13	$6.24	$6.33	$6.67	$7.13
Tangible Book Value per Share	$4.85	$4.41	$4.34	$4.40	$4.35	$4.64	$4.98	$5.10	$5.19	$5.53	$6.00
Total Capital	718	690	736	745	743	798	791	829	838	897	894
Total Debt	321	322	372	377	377	412	382	411	413	448	414
Total Long-Term Debt	321	322	372	377	377	412	382	411	413	448	414
Net Debt	283	315	339	335	363	389	359	388	400	438	403
Capital Expenditures (CapEx)	31	40	34	20	43	23	8.27	47	38	22	21
Debt-free, Cash-free Net Working Capital (DFCFNWC)	47	16	13	6.96	-11	24	20	30	25	37	53
Debt-free Net Working Capital (DFNWC)	86	23	45	49	3.55	47	43	54	37	47	65
Net Working Capital (NWC)	86	23	45	49	3.55	47	43	54	37	47	65
Net Nonoperating Expense (NNE)	3.29	5.47	2.63	0.79	2.57	2.14	2.60	2.97	3.46	4.12	3.57
Net Nonoperating Obligations (NNO)	283	315	339	335	363	389	359	388	400	438	403
Total Depreciation and Amortization (D&A)	11	24	11	16	12	15	11	20	15	20	15
Debt-free, Cash-free Net Working Capital to Revenue	6.59%	2.46%	2.11%	1.17%	-1.90%	4.08%	3.15%	4.55%	3.37%	4.88%	6.59%
Debt-free Net Working Capital to Revenue	12.04%	3.47%	7.42%	8.23%	0.64%	7.95%	6.77%	8.01%	4.99%	6.22%	8.00%
Net Working Capital to Revenue	12.04%	3.47%	7.42%	8.23%	0.64%	7.95%	6.77%	8.01%	4.99%	6.22%	8.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.15)	($0.48)	($0.05)	$0.03	($0.09)	$0.32	$0.32	$0.11	$0.13	$0.29	$0.50
Adjusted Weighted Average Basic Shares Outstanding	66.11M	66.05M	66.26M	66.46M	66.53M	66.47M	66.73M	67.12M	67.22M	67.09M	67.38M
Adjusted Diluted Earnings per Share	($0.15)	($0.48)	($0.05)	$0.03	($0.09)	$0.23	$0.31	$0.11	$0.00	$0.42	$0.49
Adjusted Weighted Average Diluted Shares Outstanding	66.11M	66.05M	66.26M	66.81M	66.53M	66.96M	67.49M	67.70M	67.83M	67.85M	68.40M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	66.17M	66.19M	66.42M	66.49M	66.61M	66.62M	67.01M	67.19M	67.27M	67.28M	67.93M
Normalized Net Operating Profit after Tax (NOPAT)	-6.65	-26	-0.62	2.36	-3.61	24	22	9.98	12	24	37
Normalized NOPAT Margin	-4.20%	-17.52%	-0.39%	1.78%	-3.08%	13.04%	11.13%	5.87%	6.33%	11.76%	15.09%
Pre Tax Income Margin	-8.37%	-27.01%	-2.54%	1.91%	-6.80%	15.28%	14.10%	6.18%	6.28%	12.26%	18.58%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	3.79%	-2.88%	0.00%	0.00%	-0.39%	0.00%	0.00%	25.53%	18.44%	20.19%	21.15%

Key Financial Trends

Great Lakes Dredge & Dock’s Q1 2025 results show strong top- and bottom-line growth, improved margins and robust operating cash flow, although free cash flow remains negative and liquidity ratios warrant monitoring.

Operating revenue rose 22.3% YoY in Q1 2025 to $242.9 million, driven by higher project activity.
Net income jumped 58.9% YoY to $33.4 million, lifting basic EPS to $0.50 from $0.32 a year ago.
Net cash from operating activities climbed 58% to $60.9 million, bolstering the company’s cash generation capability.
EBITDA margin improved to 26.5% in Q1 2025 versus 21.7% in Q1 2024, reflecting tighter cost control.
Capital expenditures increased to $21.1 million in Q1 2025, reflecting continued investment in dredging assets.
Long-term debt edged up to $413.9 million, with net debt/EBITDA at 2.27×—moderate leverage for the industry.
Altman Z-Score of 1.50 remains below the 1.8 distress threshold, suggesting financial health needs close tracking.
Free cash flow to the firm was negative $77.1 million in Q1 2025, widening the shortfall versus prior years.
Quick ratio of 0.65 may signal near-term liquidity constraints if working capital deteriorates.
Periodic quarterly losses in 2022–2023 highlight the cyclical nature of the dredging business and potential earnings volatility.

07/16/25 09:12 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Great Lakes Dredge & Dock's Financials

When does Great Lakes Dredge & Dock's financial year end?

According to the most recent income statement we have on file, Great Lakes Dredge & Dock's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Great Lakes Dredge & Dock's net income changed over the last 10 years?

Great Lakes Dredge & Dock's net income appears to be on an upward trend, with a most recent value of $57.27 million in 2024, rising from $10.30 million in 2014. The previous period was $13.91 million in 2023. See where experts think Great Lakes Dredge & Dock is headed by visiting Great Lakes Dredge & Dock's forecast page.

What is Great Lakes Dredge & Dock's operating income?

Great Lakes Dredge & Dock's total operating income in 2024 was $92.81 million, based on the following breakdown:

Total Gross Profit: $160.58 million
Total Operating Expenses: $67.77 million

How has Great Lakes Dredge & Dock's revenue changed over the last 10 years?

Over the last 10 years, Great Lakes Dredge & Dock's total revenue changed from $806.83 million in 2014 to $762.69 million in 2024, a change of -5.5%.

How much debt does Great Lakes Dredge & Dock have?

Great Lakes Dredge & Dock's total liabilities were at $806.19 million at the end of 2024, a 11.2% increase from 2023, and a 26.5% increase since 2014.

How much cash does Great Lakes Dredge & Dock have?

In the past 10 years, Great Lakes Dredge & Dock's cash and equivalents has ranged from $6.55 million in 2022 to $216.51 million in 2020, and is currently $10.22 million as of their latest financial filing in 2024.

How has Great Lakes Dredge & Dock's book value per share changed over the last 10 years?

Over the last 10 years, Great Lakes Dredge & Dock's book value per share changed from 4.26 in 2014 to 6.67 in 2024, a change of 56.8%.

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This page (NASDAQ:GLDD) was last updated on 7/16/2025 by MarketBeat.com Staff

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Great Lakes Dredge & Dock (GLDD) Financials

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Great Lakes Dredge & Dock (GLDD) Financials

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