Intrinsic value of Great Lakes Dredge&Dock - GLDD

Previous Close

$4.00

  Intrinsic Value

$0.69

stock screener

  Rating & Target

str. sell

-83%

  Value-price divergence*

-79%

Previous close

$4.00

 
Intrinsic value

$0.69

 
Up/down potential

-83%

 
Rating

str. sell

 
Value-price divergence*

-79%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of GLDD stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -10.39
  4.90
  4.91
  4.92
  4.93
  4.93
  4.94
  4.95
  4.95
  4.96
  4.96
  4.97
  4.97
  4.97
  4.97
  4.98
  4.98
  4.98
  4.98
  4.98
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  5.00
Revenue, $m
  768
  806
  845
  887
  930
  976
  1,025
  1,075
  1,129
  1,184
  1,243
  1,305
  1,370
  1,438
  1,509
  1,585
  1,663
  1,746
  1,833
  1,925
  2,021
  2,122
  2,227
  2,339
  2,455
  2,578
  2,707
  2,842
  2,984
  3,133
  3,289
Variable operating expenses, $m
 
  733
  768
  806
  845
  886
  930
  975
  1,023
  1,073
  1,126
  1,173
  1,232
  1,293
  1,357
  1,425
  1,496
  1,570
  1,648
  1,730
  1,817
  1,907
  2,003
  2,102
  2,207
  2,318
  2,433
  2,555
  2,682
  2,816
  2,957
Fixed operating expenses, $m
 
  56
  58
  59
  61
  62
  64
  65
  67
  69
  70
  72
  74
  76
  78
  80
  82
  84
  86
  88
  90
  92
  95
  97
  99
  102
  105
  107
  110
  113
  115
Total operating expenses, $m
  753
  789
  826
  865
  906
  948
  994
  1,040
  1,090
  1,142
  1,196
  1,245
  1,306
  1,369
  1,435
  1,505
  1,578
  1,654
  1,734
  1,818
  1,907
  1,999
  2,098
  2,199
  2,306
  2,420
  2,538
  2,662
  2,792
  2,929
  3,072
Operating income, $m
  15
  17
  19
  22
  25
  28
  31
  35
  39
  42
  47
  60
  64
  69
  75
  80
  86
  93
  99
  106
  114
  122
  130
  139
  148
  158
  169
  180
  191
  204
  217
EBITDA, $m
  78
  69
  74
  79
  84
  90
  96
  102
  109
  116
  124
  131
  140
  149
  158
  168
  178
  189
  200
  212
  225
  239
  253
  268
  284
  300
  318
  336
  356
  376
  398
Interest expense (income), $m
  27
  28
  30
  33
  35
  38
  41
  44
  47
  50
  53
  57
  61
  64
  69
  73
  77
  82
  87
  92
  98
  104
  110
  116
  123
  130
  137
  145
  153
  162
  171
Earnings before tax, $m
  -14
  -12
  -11
  -11
  -11
  -10
  -10
  -9
  -8
  -7
  -7
  3
  4
  5
  6
  7
  9
  10
  12
  14
  16
  18
  20
  23
  25
  28
  31
  35
  38
  42
  46
Tax expense, $m
  -6
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  2
  2
  2
  3
  3
  4
  4
  5
  5
  6
  7
  8
  8
  9
  10
  11
  12
Net income, $m
  -8
  -12
  -11
  -11
  -11
  -10
  -10
  -9
  -8
  -7
  -7
  2
  3
  4
  4
  5
  6
  8
  9
  10
  12
  13
  15
  17
  19
  21
  23
  25
  28
  31
  33

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  11
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  894
  926
  971
  1,019
  1,069
  1,122
  1,178
  1,236
  1,297
  1,361
  1,429
  1,500
  1,575
  1,653
  1,735
  1,821
  1,912
  2,007
  2,107
  2,212
  2,323
  2,439
  2,560
  2,688
  2,822
  2,963
  3,111
  3,266
  3,429
  3,601
  3,781
Adjusted assets (=assets-cash), $m
  883
  926
  971
  1,019
  1,069
  1,122
  1,178
  1,236
  1,297
  1,361
  1,429
  1,500
  1,575
  1,653
  1,735
  1,821
  1,912
  2,007
  2,107
  2,212
  2,323
  2,439
  2,560
  2,688
  2,822
  2,963
  3,111
  3,266
  3,429
  3,601
  3,781
Revenue / Adjusted assets
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
Average production assets, $m
  424
  444
  466
  489
  513
  538
  565
  592
  622
  653
  685
  719
  755
  792
  832
  873
  917
  962
  1,010
  1,061
  1,113
  1,169
  1,227
  1,289
  1,353
  1,420
  1,491
  1,566
  1,644
  1,726
  1,812
Working capital, $m
  127
  124
  130
  137
  143
  150
  158
  166
  174
  182
  191
  201
  211
  221
  232
  244
  256
  269
  282
  296
  311
  327
  343
  360
  378
  397
  417
  438
  459
  482
  507
Total debt, $m
  394
  423
  456
  491
  528
  566
  607
  649
  694
  741
  790
  841
  896
  953
  1,013
  1,076
  1,142
  1,211
  1,284
  1,361
  1,441
  1,526
  1,614
  1,708
  1,805
  1,908
  2,016
  2,129
  2,248
  2,373
  2,504
Total liabilities, $m
  646
  675
  708
  743
  780
  818
  859
  901
  946
  993
  1,042
  1,093
  1,148
  1,205
  1,265
  1,328
  1,394
  1,463
  1,536
  1,613
  1,693
  1,778
  1,866
  1,960
  2,057
  2,160
  2,268
  2,381
  2,500
  2,625
  2,756
Total equity, $m
  248
  251
  263
  276
  290
  304
  319
  335
  352
  369
  387
  406
  427
  448
  470
  494
  518
  544
  571
  600
  629
  661
  694
  728
  765
  803
  843
  885
  929
  976
  1,025
Total liabilities and equity, $m
  894
  926
  971
  1,019
  1,070
  1,122
  1,178
  1,236
  1,298
  1,362
  1,429
  1,499
  1,575
  1,653
  1,735
  1,822
  1,912
  2,007
  2,107
  2,213
  2,322
  2,439
  2,560
  2,688
  2,822
  2,963
  3,111
  3,266
  3,429
  3,601
  3,781
Debt-to-equity ratio
  1.589
  1.690
  1.730
  1.780
  1.820
  1.860
  1.900
  1.940
  1.970
  2.010
  2.040
  2.070
  2.100
  2.130
  2.150
  2.180
  2.200
  2.230
  2.250
  2.270
  2.290
  2.310
  2.330
  2.340
  2.360
  2.380
  2.390
  2.410
  2.420
  2.430
  2.440
Adjusted equity ratio
  0.268
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -8
  -12
  -11
  -11
  -11
  -10
  -10
  -9
  -8
  -7
  -7
  2
  3
  4
  4
  5
  6
  8
  9
  10
  12
  13
  15
  17
  19
  21
  23
  25
  28
  31
  33
Depreciation, amort., depletion, $m
  63
  53
  55
  57
  60
  62
  65
  68
  71
  74
  77
  72
  75
  79
  83
  87
  92
  96
  101
  106
  111
  117
  123
  129
  135
  142
  149
  157
  164
  173
  181
Funds from operations, $m
  31
  41
  44
  46
  49
  52
  55
  59
  62
  66
  70
  74
  78
  83
  88
  93
  98
  104
  110
  116
  123
  130
  138
  145
  154
  163
  172
  182
  192
  203
  215
Change in working capital, $m
  -8
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  10
  10
  10
  11
  12
  12
  13
  13
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
  23
  24
Cash from operations, $m
  39
  35
  38
  40
  42
  45
  48
  51
  54
  58
  61
  64
  68
  72
  77
  81
  86
  91
  96
  102
  108
  115
  121
  128
  136
  144
  152
  161
  170
  180
  191
Maintenance CAPEX, $m
  0
  -42
  -44
  -47
  -49
  -51
  -54
  -56
  -59
  -62
  -65
  -69
  -72
  -75
  -79
  -83
  -87
  -92
  -96
  -101
  -106
  -111
  -117
  -123
  -129
  -135
  -142
  -149
  -157
  -164
  -173
New CAPEX, $m
  -84
  -20
  -22
  -23
  -24
  -25
  -27
  -28
  -29
  -31
  -32
  -34
  -36
  -38
  -39
  -41
  -43
  -46
  -48
  -50
  -53
  -56
  -58
  -61
  -64
  -68
  -71
  -74
  -78
  -82
  -86
Cash from investing activities, $m
  -73
  -62
  -66
  -70
  -73
  -76
  -81
  -84
  -88
  -93
  -97
  -103
  -108
  -113
  -118
  -124
  -130
  -138
  -144
  -151
  -159
  -167
  -175
  -184
  -193
  -203
  -213
  -223
  -235
  -246
  -259
Free cash flow, $m
  -34
  -27
  -29
  -30
  -31
  -32
  -32
  -33
  -34
  -35
  -36
  -38
  -39
  -41
  -42
  -43
  -45
  -46
  -48
  -49
  -51
  -52
  -54
  -56
  -57
  -59
  -61
  -63
  -64
  -66
  -68
Issuance/(repayment) of debt, $m
  37
  31
  33
  35
  37
  38
  40
  42
  45
  47
  49
  52
  54
  57
  60
  63
  66
  69
  73
  77
  80
  84
  89
  93
  98
  103
  108
  113
  119
  125
  131
Issuance/(repurchase) of shares, $m
  1
  24
  24
  24
  24
  24
  25
  25
  25
  25
  25
  17
  17
  18
  18
  18
  18
  18
  18
  18
  18
  18
  18
  18
  18
  18
  17
  17
  16
  16
  15
Cash from financing (excl. dividends), $m  
  31
  55
  57
  59
  61
  62
  65
  67
  70
  72
  74
  69
  71
  75
  78
  81
  84
  87
  91
  95
  98
  102
  107
  111
  116
  121
  125
  130
  135
  141
  146
Total cash flow (excl. dividends), $m
  -3
  27
  28
  29
  30
  31
  32
  34
  35
  36
  38
  31
  32
  34
  36
  38
  39
  41
  43
  46
  48
  50
  53
  56
  58
  61
  64
  68
  71
  74
  78
Retained Cash Flow (-), $m
  4
  -24
  -24
  -24
  -24
  -24
  -25
  -25
  -25
  -25
  -25
  -19
  -20
  -21
  -22
  -23
  -25
  -26
  -27
  -28
  -30
  -31
  -33
  -35
  -36
  -38
  -40
  -42
  -44
  -46
  -49
Prev. year cash balance distribution, $m
 
  9
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  13
  5
  5
  6
  7
  8
  9
  10
  11
  13
  12
  12
  13
  13
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
  23
  24
  25
  27
  28
  29
Discount rate, %
 
  9.60
  10.08
  10.58
  11.11
  11.67
  12.25
  12.86
  13.51
  14.18
  14.89
  15.64
  16.42
  17.24
  18.10
  19.01
  19.96
  20.96
  22.00
  23.10
  24.26
  25.47
  26.75
  28.08
  29.49
  30.96
  32.51
  34.13
  35.84
  37.63
  39.51
PV of cash for distribution, $m
 
  12
  4
  4
  4
  4
  4
  4
  4
  3
  3
  2
  2
  2
  1
  1
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  90.7
  82.6
  75.4
  69.1
  63.6
  58.7
  54.3
  50.4
  46.9
  43.8
  41.9
  40.1
  38.5
  36.9
  35.5
  34.2
  33.0
  31.9
  30.8
  29.9
  29.0
  28.2
  27.5
  26.8
  26.2
  25.6
  25.1
  24.6
  24.2
  23.8

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. It operates in two segments, Dredging and Environmental & Remediation. The Dredging segment is involved in capital dredging that consists of port expansion projects, land reclamations, trench digging for pipelines, tunnels and cables, and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures. This segment also engages in channel deepening and port infrastructure development; coastal protection projects; re-dredging of previously deepened waterways and harbors; and lake and river dredging, inland levee and construction dredging, environmental restoration and habitat improvement, and other marine construction projects. It serves federal, state, and local governments; foreign governments; and domestic and foreign private concerns, such as utilities, oil, and other energy companies. The Environmental & Remediation segment provides construction services on soil, water, and sediment for public and private clients; environmental and geotechnical construction, slurry wall construction, in-situ stabilization, large scale reclamation, and habitat restoration; remediation services, including the immobilization or removal of contamination from an environment; and abatement, industrial cleaning, and waste transportation and disposal services. It serves general contractors, corporations, Superfund potentially responsible parties, environmental engineering and construction firms, and federal and municipal government agencies. The company operates a fleet of 30 dredges, including 7 deployed internationally; 23 material transportation barges; 2 drillboats; 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 Oak Brook, Illinois.

FINANCIAL RATIOS  of  Great Lakes Dredge&Dock (GLDD)

Valuation Ratios
P/E Ratio -30.5
Price to Sales 0.3
Price to Book 1
Price to Tangible Book
Price to Cash Flow 6.3
Price to Free Cash Flow -5.4
Growth Rates
Sales Growth Rate -10.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 13.5%
Cap. Spend. - 3 Yr. Gr. Rate 4.6%
Financial Strength
Quick Ratio 6
Current Ratio 0.9
LT Debt to Equity 158.1%
Total Debt to Equity 158.9%
Interest Coverage 0
Management Effectiveness
Return On Assets 0.8%
Ret/ On Assets - 3 Yr. Avg. 2.7%
Return On Total Capital -1.3%
Ret/ On T. Cap. - 3 Yr. Avg. -0.2%
Return On Equity -3.2%
Return On Equity - 3 Yr. Avg. -0.5%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 11.2%
Gross Margin - 3 Yr. Avg. 11.3%
EBITDA Margin 9.9%
EBITDA Margin - 3 Yr. Avg. 9.7%
Operating Margin 2%
Oper. Margin - 3 Yr. Avg. 2.6%
Pre-Tax Margin -1.8%
Pre-Tax Margin - 3 Yr. Avg. -0.6%
Net Profit Margin -1%
Net Profit Margin - 3 Yr. Avg. -0.2%
Effective Tax Rate 42.9%
Eff/ Tax Rate - 3 Yr. Avg. -19%
Payout Ratio 0%

GLDD stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GLDD stock intrinsic value calculation we used $768 million for the last fiscal year's total revenue generated by Great Lakes Dredge&Dock. The default revenue input number comes from 2016 income statement of Great Lakes Dredge&Dock. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GLDD stock valuation model: a) initial revenue growth rate of 4.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 9.6%, whose default value for GLDD is calculated based on our internal credit rating of Great Lakes Dredge&Dock, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Great Lakes Dredge&Dock.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GLDD stock the variable cost ratio is equal to 91%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $55 million in the base year in the intrinsic value calculation for GLDD stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.2% for Great Lakes Dredge&Dock.

Corporate tax rate of 27% is the nominal tax rate for Great Lakes Dredge&Dock. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GLDD stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GLDD are equal to 55.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Great Lakes Dredge&Dock operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GLDD is equal to 15.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $248 million for Great Lakes Dredge&Dock - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 59.571 million for Great Lakes Dredge&Dock is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Great Lakes Dredge&Dock at the current share price and the inputted number of shares is $0.2 billion.

RELATED COMPANIES Price Int.Val. Rating
ORN Orion Group Ho 5.56 1.50  str.sell
LAYN Layne Christen 9.88 0.93  str.sell
EEI Ecology&Enviro 11.80 13.65  hold
LNG Cheniere Energ 42.21 3.18  str.sell
USDP USD Partners 10.50 9.01  sell
CBI Chicago Bridge 11.19 0.82  str.sell
VSR Versar 1.10 0.93  sell

COMPANY NEWS

▶ Great Lakes Dredge & Dock posts 2Q loss   [Aug-02-17 09:39PM  Associated Press]
▶ Great Lakes Reports Second Quarter Results   [08:00AM  GlobeNewswire]
▶ Infrastructure Has a Shaky Foundation   [May-21-17 10:00AM  TheStreet.com]
▶ Great Lakes Dredge & Dock posts 1Q loss   [08:06AM  Associated Press]
▶ Great Lakes Reports First Quarter Results   [08:00AM  GlobeNewswire]
▶ Great Lakes Dredge & Dock posts 4Q loss   [Feb-22-17 08:23AM  Associated Press]
▶ Great Lakes Reports Year-End Results   [08:00AM  GlobeNewswire]
▶ Great Lakes Announces Changes to Board of Directors   [Jan-26-17 06:48AM  GlobeNewswire]
▶ Great Lakes Executes $250 Million Revolving Credit Facility   [Jan-06-17 05:00PM  GlobeNewswire]
▶ Great Lakes Announces Management and Board Transitions   [Jan-04-17 06:01PM  GlobeNewswire]
▶ [$$] Privet Wants to Stir Up Great Lakes Dredge & Dock   [Dec-03-16 12:01AM  at Barrons.com]
▶ Great Lakes Reports Third Quarter Results   [08:00AM  GlobeNewswire]
▶ Five Cheap Industrial Stocks that Captured Smart Moneys Attention   [Oct-09-16 04:39PM  at Insider Monkey]
▶ Great Lakes Reports Year-End Results   [08:00AM  GlobeNewswire]
Stock chart of GLDD Financial statements of GLDD
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.