GLDD FINANCIAL STATEMENTS

Great Lakes Dredge & Dock — balance sheet, income statement and cash flow trends

GLDDGreat Lakes Dredge & Dock

🇺🇸 USA · NASDAQ · Industrials · Engineering & Construction

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q4 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue888.3 M $+16.5%

Gross Profit203.5 M $+26.7%

Operating Income125.5 M $+35.2%

EBITDA186.9 M $+37.5%

Net Income73.5 M $+28.3%

Peer Comparison· Engineering & Construction

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
GLDD	16.5%	22.9%	21.0%	8.3%
ANELE	12.8%	-2.1%	-21.5%	-15.4%
YEOTK	96.7%	28.5%	20.6%	8.5%
GESAN	16.2%	27.7%	21.1%	2.8%
GLRMK	9.8%	11.4%	13.5%	6.8%
HRKET	48.1%	21.7%	27.3%	-20.2%
Industry median	13.4%	19.5%	12.1%	4.0%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
GLDD	16.5%	22.9%	21.0%	8.3%
BBCP	2.1%	38.3%	24.5%	2.2%
BWMN	13.3%	46.3%	9.1%	2.1%
WLDN	14.9%	38.2%	9.5%	8.2%
AMRC	8.6%	15.6%	11.8%	1.6%
VATE	25.4%	14.6%	5.0%	-4.0%
Industry median	13.4%	19.5%	12.1%	4.0%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q4 2025

Equity517.1 M $39%
Current Liabilities215.8 M $16%
Long-term Liabilities591.9 M $45%

Key Figures

YoY change

Total Assets1.3 B $+1.4%

Total Liabilities807.7 M $-5.8%

Total Equity517.1 M $+15.2%

Cash & ST Investments13.4 M $+30.8%

Total Debt458.1 M $-16.7%

Net Debt444.7 M $-17.6%

Peer Comparison· Engineering & Construction

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
GLDD	0.97	88.6%	2.38	39.0%
ANELE	0.89	83.0%	-1.30	18.4%
YEOTK	1.04	174.7%	1.69	18.3%
GESAN	2.38	24.2%	0.92	55.2%
GLRMK	2.19	80.0%	-0.17	27.3%
HRKET	0.99	83.1%	3.23	40.5%
Industry median	1.31	66.0%	1.39	37.0%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
GLDD	0.97	88.6%	2.38	39.0%
BBCP	1.73	154.0%	4.03	32.0%
BWMN	0.93	100.2%	5.20	42.5%
WLDN	1.68	22.4%	0.55	60.7%
AMRC	1.49	184.7%	8.29	23.9%
VATE	0.40	-310.2%	9.53	-26.3%
Industry median	1.31	66.0%	1.39	37.0%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q4 2025 · TTM

Key Figures

YoY change

Operating Cash Flow246.7 M $+253.9%

Capital Expenditures147.2 M $+17.6%

Free Cash Flow99.5 M $—

Dividends Paid——

Peer Comparison· Engineering & Construction

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
GLDD	27.8%	11.2%	16.6%	335.7%
ANELE	3.8%	3.7%	0.0%	-24.5%
YEOTK	9.7%	-14.4%	24.1%	114.8%
GESAN	-7.1%	-10.1%	5.9%	-251.2%
GLRMK	21.7%	19.7%	1.4%	321.7%
HRKET	18.1%	-17.2%	53.0%	-89.9%
Industry median	8.9%	5.8%	2.0%	149.4%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
GLDD	27.8%	11.2%	16.6%	335.7%
BBCP	15.4%	3.9%	11.4%	691.1%
BWMN	7.0%	6.3%	0.7%	334.1%
WLDN	7.7%	6.3%	1.3%	92.9%
AMRC	-0.8%	-12.7%	11.8%	-52.9%
VATE	15.4%	13.1%	2.3%	-389.8%
Industry median	8.9%	5.8%	2.0%	149.4%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 3, 26. This content is for informational purposes only and is not investment advice.