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    A Look At Great Lakes Dredge & Dock (GLDD) Valuation After Backlog Driven Quarterly Strength And Rating Upgrade

    Simply Wall St·02/04/2026 22:32:13
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    Great Lakes Dredge & Dock (GLDD) is back on investors’ radar after its latest quarterly report highlighted strong project execution, high equipment utilization, and a dredging backlog that extends revenue visibility well into 2026.

    See our latest analysis for Great Lakes Dredge & Dock.

    The latest report and raised analyst rating arrive after a mixed stretch for the stock, with a 9.58% 1 month share price return and 22.89% 3 month share price return. The 3 year total shareholder return of 121.60% contrasts with a flat 5 year record, suggesting that momentum has recently been rebuilding.

    If this kind of infrastructure driven story has your attention, it could be a good moment to broaden your search and check out fast growing stocks with high insider ownership.

    With GLDD trading at $14.98 against an analyst target of $17.60 and an indicated intrinsic discount of about 71%, the key question is whether this backlog driven story is still cheap or whether the market already reflects expectations for future growth.

    Most Popular Narrative: 11.9% Undervalued

    With Great Lakes Dredge & Dock’s most followed narrative pointing to a fair value of $17 against the last close of $14.98, the gap comes down to how investors view long term project visibility, margins and required returns.

    Record levels of government funding for coastal protection and port deepening projects, combined with a substantial $1B backlog and new awards, provide strong revenue visibility through 2026 and 2027 and support expectations for sustained top-line growth.

    Read the complete narrative.

    Want to see what is sitting behind that backlog confidence? The narrative leans heavily on future project flow, margin shape and a higher earnings multiple. Curious which assumptions really drive that $17 figure and the discount rate behind it? The full story joins those numbers together.

    Result: Fair Value of $17 (UNDERVALUED)

    Have a read of the narrative in full and understand what's behind the forecasts.

    However, this depends on project timing and bid outcomes. Any slowdown in government or LNG awards, or increased international competition, could potentially weaken that earnings story.

    Find out about the key risks to this Great Lakes Dredge & Dock narrative.

    Build Your Own Great Lakes Dredge & Dock Narrative

    If you look at the numbers and come to a different view, or simply prefer to test your own assumptions, you can build a custom thesis in just a few minutes with Do it your way.

    A great starting point for your Great Lakes Dredge & Dock research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.

    Looking for more investment ideas?

    If GLDD has caught your attention, do not stop here. Use the screener to spot other potential opportunities that match your style before the market moves on.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.