Latest Ratios: P/E Ratio 15.7x · EV/EBITDA 9.3x · ROE 15.2%. (2001–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.1B | $889M | $766M | $514M | $393M | $1.0B | $868M | $737M | $421M | $331M | $258M |
| Enterprise Value | $1.6B | $1.3B | $1.3B | $997M | $800M | $1.3B | $1.0B | $945M | $720M | $746M | $639M |
| P/E Ratio → | 15.74 | 12.15 | 13.44 | 36.57 | — | 20.96 | 13.17 | 14.91 | — | — | — |
| P/S Ratio | 1.28 | 1.00 | 1.00 | 0.87 | 0.61 | 1.44 | 1.18 | 1.04 | 0.68 | 0.56 | 0.34 |
| P/B Ratio | 2.23 | 1.72 | 1.71 | 1.33 | 1.07 | 2.61 | 2.50 | 2.64 | 1.96 | 1.50 | 1.04 |
| P/FCF | 11.41 | 8.94 | — | — | — | — | 27.69 | 5.24 | 4.77 | — | — |
| P/OCF | 4.60 | 3.60 | 10.93 | 10.84 | 584.83 | 23.36 | 10.99 | 3.88 | 3.06 | 15.40 | 6.67 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.50 | 1.71 | 1.69 | 1.23 | 1.76 | 1.42 | 1.33 | 1.16 | 1.26 | 0.83 |
| EV / EBITDA | 9.34 | 7.89 | 9.64 | 14.10 | 43.15 | 10.13 | 6.94 | 6.99 | 6.99 | 20.36 | 7.82 |
| EV / EBIT | 12.57 | 11.39 | 14.00 | 32.75 | — | 15.17 | 9.35 | 9.82 | 14.39 | — | 26.83 |
| EV / FCF | — | 13.41 | — | — | — | — | 33.20 | 6.72 | 8.16 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.9% | 22.9% | 21.1% | 13.2% | 4.8% | 20.0% | 23.3% | 21.6% | 19.4% | 11.1% | 11.3% |
| Operating Margin | 14.1% | 14.1% | 12.2% | 4.8% | -4.3% | 11.5% | 15.2% | 13.8% | 8.5% | -3.3% | 3.5% |
| Net Profit Margin | 8.3% | 8.3% | 7.5% | 2.4% | -5.2% | 6.8% | 9.0% | 6.9% | -1.0% | -5.3% | -1.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.2% | 15.2% | 13.7% | 3.7% | -8.9% | 13.3% | 21.1% | 20.0% | -2.9% | -13.3% | -3.3% |
| ROA | 5.6% | 5.6% | 4.7% | 1.3% | -3.4% | 5.1% | 7.1% | 6.1% | -0.8% | -3.6% | -0.9% |
| ROIC | 9.7% | 9.7% | 7.5% | 2.6% | -2.9% | 10.8% | 16.6% | 14.7% | 6.9% | -2.3% | 3.3% |
| ROCE | 11.4% | 11.4% | 9.2% | 3.2% | -3.3% | 10.3% | 15.2% | 15.6% | 8.4% | -2.8% | 3.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.89 | 0.89 | 1.23 | 1.31 | 1.12 | 0.96 | 1.12 | 1.41 | 1.55 | 1.95 | 1.58 |
| Debt / EBITDA | 2.71 | 2.71 | 4.06 | 7.15 | 22.30 | 3.03 | 2.59 | 2.92 | 3.24 | 11.75 | 4.80 |
| Net Debt / Equity | — | 0.86 | 1.20 | 1.25 | 1.10 | 0.60 | 0.50 | 0.75 | 1.39 | 1.88 | 1.54 |
| Net Debt / EBITDA | 2.63 | 2.63 | 3.99 | 6.83 | 21.95 | 1.88 | 1.15 | 1.54 | 2.90 | 11.32 | 4.67 |
| Debt / FCF | — | 4.47 | — | — | — | — | 5.51 | 1.48 | 3.39 | — | — |
| Interest Coverage | 6.99 | 6.99 | 5.22 | 2.51 | -2.08 | 3.91 | 4.19 | 3.50 | 1.49 | -0.73 | 1.02 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.97 | 0.97 | 1.17 | 1.26 | 1.14 | 2.12 | 2.06 | 1.47 | 1.27 | 1.74 | 1.71 |
| Quick Ratio | 0.84 | 0.84 | 1.03 | 1.07 | 0.96 | 1.92 | 1.86 | 1.33 | 1.09 | 1.51 | 1.50 |
| Cash Ratio | 0.06 | 0.06 | 0.05 | 0.13 | 0.04 | 0.94 | 1.23 | 0.92 | 0.21 | 0.11 | 0.06 |
| Asset Turnover | — | 0.67 | 0.58 | 0.53 | 0.66 | 0.73 | 0.77 | 0.79 | 0.85 | 0.71 | 0.86 |
| Inventory Turnover | 24.52 | 24.52 | 20.16 | 15.09 | 21.13 | 18.88 | 16.21 | 18.48 | 17.80 | 15.22 | 14.87 |
| Days Sales Outstanding | — | 62.16 | 91.99 | 76.48 | 62.34 | 61.72 | 35.37 | 21.72 | 48.64 | 80.04 | 87.07 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.4% | 8.2% | 7.4% | 2.7% | — | 4.8% | 7.6% | 6.7% | — | — | — |
| FCF Yield | 8.8% | 11.2% | — | — | — | — | 3.6% | 19.1% | 21.0% | — | — |
| Buyback Yield | 1.0% | 1.3% | 0.2% | 0.0% | 0.0% | 0.0% | 0.4% | 0.0% | 0.3% | 0.1% | 0.1% |
| Total Shareholder Yield | 1.0% | 1.3% | 0.2% | 0.0% | 0.0% | 0.0% | 0.4% | 0.0% | 0.3% | 0.1% | 0.1% |
| Shares Outstanding | — | $68M | $68M | $67M | $66M | $66M | $66M | $65M | $64M | $61M | $61M |
Federal budget dependency
According to current market data, GLDD trades at a P/E of 15.74, which appears to discount the inherent volatility of its project-based revenue model while simultaneously pricing in the potential for long-term growth from the emerging U.S. offshore wind sector and ongoing coastal restoration initiatives.
The current valuation multiples suggest that investors are balancing the company's dominant market share in domestic dredging against the lumpy nature of federal contract awards. Given the high PEG ratio of 10.15, the market may be signaling skepticism regarding the near-term earnings growth trajectory, likely due to the recent commissioning of the Acadia vessel and associated project execution risks.
Based on reported financial figures, GLDD's ROIC has struggled to consistently exceed 3.8% over the last ten quarters, reflecting the significant capital burden of maintaining a specialized, Jones Act-compliant fleet that requires continuous reinvestment to remain competitive within the U.S. maritime construction market.
The low return on invested capital suggests that the company's massive fleet renewal program has yet to translate into superior economic profit. Investors should monitor whether the transition toward higher-margin offshore wind services can eventually drive ROIC above the company's cost of capital, as current returns appear insufficient to justify the heavy asset base.
As reported in recent filings, the company's cash conversion cycle has fluctuated between 21 and 46 days, highlighting the operational challenges of managing project-based receivables and payables within a high-fixed-cost environment where vessel utilization remains the primary determinant of overall working capital efficiency.
The variability in the cash conversion cycle suggests that GLDD's liquidity is highly sensitive to the timing of USACE project milestones and the associated mobilization costs. The reliance on percentage-of-completion accounting means that efficiency metrics may be temporarily distorted by project delays, warranting caution when interpreting short-term changes in DSO and DPO.
According to the latest balance sheet data, GLDD has successfully reduced its debt-to-equity ratio to 0.89, indicating a disciplined approach to capital structure management that provides a necessary buffer against the inherent volatility of federal infrastructure spending and the high costs of fleet maintenance.
The improvement in the debt-to-equity profile suggests that management is prioritizing balance sheet health as it navigates the capital-intensive transition into new maritime service segments. While interest coverage remains adequate, the company's reliance on debt to fund its specialized fleet means that any sustained downturn in federal appropriations could quickly strain its debt-servicing capacity.
The P/E ratio is frequently misapplied to GLDD, as it fails to account for the significant non-cash depreciation charges associated with a capital-intensive maritime fleet and the lumpy nature of project-based revenue recognition that often obscures the underlying cash-generative capacity of the business.
Analysts should prioritize EV/EBITDA or P/FCF over P/E to better capture the company's operational performance, as these metrics normalize for the heavy capital expenditure cycles inherent in the dredging industry. Relying on P/E alone may lead to an inaccurate assessment of the company's true earning power during periods of heavy fleet investment.
Includes 30+ ratios · 25 years · Updated daily
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Quick answers to the most common questions about buying GLDD stock.
Great Lakes Dredge & Dock Corporation's current P/E ratio is 15.7x. The historical average is 37.5x. This places it at the 38th percentile of its historical range.
Great Lakes Dredge & Dock Corporation's current EV/EBITDA is 9.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.0x.
Great Lakes Dredge & Dock Corporation's return on equity (ROE) is 15.2%. The historical average is -7.2%.
Based on historical data, Great Lakes Dredge & Dock Corporation is trading at a P/E of 15.7x. This is at the 38th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Great Lakes Dredge & Dock Corporation has 22.9% gross margin and 14.1% operating margin. Operating margin between 10-20% is typical for established companies.
Great Lakes Dredge & Dock Corporation's Debt/EBITDA ratio is 2.7x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.