{
  "docId": "019dd923-622b-71dc-a6da-0960d3a52cec",
  "docSlug": "798b531685a0",
  "documentTitle": "GCP Applied Technologies (GCP)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2020-04-30 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 61,
  "pageCount": 131,
  "prevPage": 60,
  "nextPage": 62,
  "slideType": "peer_gap",
  "function": "expose_gap",
  "density": "dense",
  "nDataPoints": 15,
  "notes": "Uses a combination of line chart for industry trends and bar charts for peer benchmarking.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "line_chart",
    "bar_chart_vertical",
    "bar_chart_vertical",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-0960d3a52cec/61",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-0960d3a52cec",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-0960d3a52cec.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-0960d3a52cec#slide-61",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.92,
        "x": 0.04,
        "y": 0.88
      },
      "kind": "callout",
      "text": "GCP’s struggles seem to be unique as peers have benefitted from a favorable industry backdrop.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "678f9935-a454-4bd8-a922-ca6e174b2d01",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "GCP's struggles seem to be unique as peers have benefitted from a favorable industry backdrop.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0f1f-75c8-8581-234f4136f794",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.26,
        "w": 0.41,
        "x": 0.55,
        "y": 0.55
      },
      "kind": "chart",
      "text": "EBIT Margins Have Also Lagged Direct Peers",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "43b93b60-da44-439c-bd3e-ea7f4d86a35f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.22,
        "w": 0.41,
        "x": 0.55,
        "y": 0.26
      },
      "kind": "chart",
      "text": "Organic Revenue Growth Has Lagged Direct Peers",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ceca1fe7-9ff3-4fbb-a43f-187382231bdd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.45,
        "x": 0.04,
        "y": 0.26
      },
      "kind": "chart",
      "text": "Construction Industry Trends Have Been Favorable",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c991bede-f961-4561-a856-2f38a0df53ea",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "EBIT margin: 10.0%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0f1f-75c8-8581-242ebeed1da0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.92,
        "x": 0.04,
        "y": 0.16
      },
      "kind": "paragraph",
      "text": "Despite a favorable industry backdrop and possessing an enviable portfolio of high quality products, GCP has lagged peers on both revenue growth and profitability over the past few years.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3936935c-e13f-4ee7-8310-4106bffd6e3f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.92,
        "x": 0.04,
        "y": 0.94
      },
      "kind": "source-note",
      "text": "Source: GCP's and Direct Peers' public filings, U.S. Census Bureau, Eurostat. 2019 figures for SGO Construction Products reflect Wall Street estimates...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e7b68f7a-acc3-4074-810f-927cac9a402f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.92,
        "x": 0.04,
        "y": 0.03
      },
      "kind": "title",
      "text": "GCP Has Underperformed Peers Since Spinning Off From W.R. Grace",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a24c247a-ed4c-42b7-81d6-8a4439f38222",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "113d6d28-d39e-4c39-9317-bd70714d36be",
      "evidence": "Direct comparison of GCP performance vs peers and industry benchmarks",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 120,
      "from": 41,
      "beatId": "cffa6cb1-8361-4f02-8c97-3df4d753bb2c",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The deck presents Starboard's plan for value creation, including operational improvements and a new board.",
      "position": 2,
      "confidence": 0.9,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 80,
      "from": 61,
      "name": "Quick Win Big Bet",
      "slug": "47-quick-win-big-bet",
      "bestFor": "Transformation planning, 100-day plans, resource allocation",
      "matchId": "202df9b1-1cc3-4021-b881-1fe2c92841e5",
      "evidence": "The deck outlines Starboard's plan for operational improvements and strategic changes.",
      "position": 2,
      "objective": "Present a plan for quick wins and long-term bets",
      "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap",
      "confidence": 0.8,
      "description": "Separate initiatives into immediate wins and longer-term strategic bets"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}