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Side-by-side financial comparison of Great Lakes Dredge & Dock CORP (GLDD) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
Great Lakes Dredge & Dock CORP is the larger business by last-quarter revenue ($256.5M vs $192.7M, roughly 1.3× SPS COMMERCE INC). SPS COMMERCE INC runs the higher net margin — 13.4% vs 4.9%, a 8.5% gap on every dollar of revenue. On growth, Great Lakes Dredge & Dock CORP posted the faster year-over-year revenue change (26.5% vs 12.7%). Great Lakes Dredge & Dock CORP produced more free cash flow last quarter ($50.3M vs $38.2M). Over the past eight quarters, Great Lakes Dredge & Dock CORP's revenue compounded faster (13.6% CAGR vs 13.5%).
Great Lakes Dredge and Dock Company is an American company providing construction services in dredging and land reclamation, currently the largest such provider in the United States. GLD&D operates primarily in the United States but conducts one-quarter of its business overseas. The company was based in Oak Brook, Illinois, but in October 2020 relocated its corporate headquarters to Houston, Texas.
SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.
GLDD vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $256.5M | $192.7M |
| Net Profit | $12.6M | $25.8M |
| Gross Margin | 20.9% | 70.4% |
| Operating Margin | 12.7% | 18.0% |
| Net Margin | 4.9% | 13.4% |
| Revenue YoY | 26.5% | 12.7% |
| Net Profit YoY | -35.9% | 47.2% |
| EPS (diluted) | $0.19 | $0.69 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $256.5M | $192.7M | ||
| Q3 25 | $195.2M | $189.9M | ||
| Q2 25 | $193.8M | $187.4M | ||
| Q1 25 | $242.9M | $181.5M | ||
| Q4 24 | $202.8M | $170.9M | ||
| Q3 24 | $191.2M | $163.7M | ||
| Q2 24 | $170.1M | $153.6M | ||
| Q1 24 | $198.7M | $149.6M |
| Q4 25 | $12.6M | $25.8M | ||
| Q3 25 | $17.7M | $25.6M | ||
| Q2 25 | $9.7M | $19.7M | ||
| Q1 25 | $33.4M | $22.2M | ||
| Q4 24 | $19.7M | $17.6M | ||
| Q3 24 | $8.9M | $23.5M | ||
| Q2 24 | $7.7M | $18.0M | ||
| Q1 24 | $21.0M | $18.0M |
| Q4 25 | 20.9% | 70.4% | ||
| Q3 25 | 22.4% | 69.5% | ||
| Q2 25 | 18.9% | 68.1% | ||
| Q1 25 | 28.6% | 68.7% | ||
| Q4 24 | 24.1% | 67.5% | ||
| Q3 24 | 19.0% | 68.5% | ||
| Q2 24 | 17.5% | 66.1% | ||
| Q1 24 | 22.9% | 65.6% |
| Q4 25 | 12.7% | 18.0% | ||
| Q3 25 | 14.4% | 16.4% | ||
| Q2 25 | 8.8% | 14.1% | ||
| Q1 25 | 20.6% | 14.3% | ||
| Q4 24 | 14.8% | 14.5% | ||
| Q3 24 | 8.7% | 15.6% | ||
| Q2 24 | 8.6% | 15.1% | ||
| Q1 24 | 15.8% | 10.3% |
| Q4 25 | 4.9% | 13.4% | ||
| Q3 25 | 9.1% | 13.5% | ||
| Q2 25 | 5.0% | 10.5% | ||
| Q1 25 | 13.8% | 12.2% | ||
| Q4 24 | 9.7% | 10.3% | ||
| Q3 24 | 4.6% | 14.3% | ||
| Q2 24 | 4.5% | 11.7% | ||
| Q1 24 | 10.6% | 12.0% |
| Q4 25 | $0.19 | $0.69 | ||
| Q3 25 | $0.26 | $0.67 | ||
| Q2 25 | $0.14 | $0.52 | ||
| Q1 25 | $0.49 | $0.58 | ||
| Q4 24 | $0.29 | $0.46 | ||
| Q3 24 | $0.13 | $0.62 | ||
| Q2 24 | $0.11 | $0.48 | ||
| Q1 24 | $0.31 | $0.48 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $13.4M | $151.4M |
| Total DebtLower is stronger | $378.2M | — |
| Stockholders' EquityBook value | $517.1M | $973.9M |
| Total Assets | $1.3B | $1.2B |
| Debt / EquityLower = less leverage | 0.73× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.4M | $151.4M | ||
| Q3 25 | $12.7M | $133.7M | ||
| Q2 25 | $2.9M | $107.6M | ||
| Q1 25 | $11.3M | $94.9M | ||
| Q4 24 | $10.2M | $241.0M | ||
| Q3 24 | $12.0M | $205.8M | ||
| Q2 24 | $23.1M | $271.8M | ||
| Q1 24 | $22.8M | $290.8M |
| Q4 25 | $378.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $448.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $517.1M | $973.9M | ||
| Q3 25 | $502.1M | $958.9M | ||
| Q2 25 | $481.9M | $949.8M | ||
| Q1 25 | $479.9M | $920.9M | ||
| Q4 24 | $448.9M | $854.7M | ||
| Q3 24 | $425.4M | $829.4M | ||
| Q2 24 | $418.0M | $703.4M | ||
| Q1 24 | $409.0M | $683.0M |
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.3B | $1.0B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $1.1B | $854.5M | ||
| Q1 24 | $1.1B | $839.8M |
| Q4 25 | 0.73× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $79.7M | $45.9M |
| Free Cash FlowOCF − Capex | $50.3M | $38.2M |
| FCF MarginFCF / Revenue | 19.6% | 19.8% |
| Capex IntensityCapex / Revenue | 11.5% | 4.0% |
| Cash ConversionOCF / Net Profit | 6.31× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $99.5M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $79.7M | $45.9M | ||
| Q3 25 | $49.2M | $60.6M | ||
| Q2 25 | $56.9M | $32.3M | ||
| Q1 25 | $60.9M | $40.0M | ||
| Q4 24 | $-13.5M | $40.6M | ||
| Q3 24 | $26.8M | $53.3M | ||
| Q2 24 | $18.4M | $29.4M | ||
| Q1 24 | $38.4M | $34.1M |
| Q4 25 | $50.3M | $38.2M | ||
| Q3 25 | $13.2M | $54.6M | ||
| Q2 25 | $-3.7M | $25.7M | ||
| Q1 25 | $39.6M | $33.8M | ||
| Q4 24 | $-36.1M | $34.3M | ||
| Q3 24 | $-11.5M | $48.1M | ||
| Q2 24 | $-34.0M | $24.4M | ||
| Q1 24 | $26.5M | $30.5M |
| Q4 25 | 19.6% | 19.8% | ||
| Q3 25 | 6.8% | 28.7% | ||
| Q2 25 | -1.9% | 13.7% | ||
| Q1 25 | 16.3% | 18.6% | ||
| Q4 24 | -17.8% | 20.1% | ||
| Q3 24 | -6.0% | 29.4% | ||
| Q2 24 | -20.0% | 15.9% | ||
| Q1 24 | 13.4% | 20.4% |
| Q4 25 | 11.5% | 4.0% | ||
| Q3 25 | 18.4% | 3.2% | ||
| Q2 25 | 31.3% | 3.6% | ||
| Q1 25 | 8.7% | 3.4% | ||
| Q4 24 | 11.2% | 3.6% | ||
| Q3 24 | 20.0% | 3.2% | ||
| Q2 24 | 30.8% | 3.3% | ||
| Q1 24 | 6.0% | 2.4% |
| Q4 25 | 6.31× | 1.78× | ||
| Q3 25 | 2.77× | 2.37× | ||
| Q2 25 | 5.87× | 1.64× | ||
| Q1 25 | 1.82× | 1.80× | ||
| Q4 24 | -0.69× | 2.31× | ||
| Q3 24 | 3.02× | 2.27× | ||
| Q2 24 | 2.39× | 1.63× | ||
| Q1 24 | 1.83× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GLDD
Segment breakdown not available.
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
