ADVANCED DRAINAGE SYSTEMS, INC. WMS

Industrials SIC 3086 - Plastics Foam Products NAICS Manufacturing › Plastics and Rubber Products Manufacturing › Plastics Product Manufacturing derived NYSE

ADS is the leading manufacturer of innovative water management solutions in the stormwater and onsite wastewater industries, providing superior drainage solutions to manage the world's most precious resource: water. Our innovative products are used across a broad range of end markets and applications, including residential, non-residential, infrastructure and agriculture applications. We have established a leading position in many of these end markets by leveraging our national sales and distribution platform, market share model, industry-acclaimed engineering support, overall product breadth and scale plus manufacturing excellence. Our best-in-class product portfolio, go-to-market strategy and material conversion strategy helped drive consistent above market growth.

Last close 130.40 2026-10-23
Market cap $9.83B 2026-06-30 share count
52-week range 122.84 - 179.31

Valuation FY2025 figures against the last close

P/S3.2x
P/E24.0x
P/FCF17.3x
EV/EBITDA14.5x
Dividend yield0.6%
Diluted EPS5.44

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Stormwater
  • Wastewater
Revenue by segment, 2 categories over 3 years. The same figures are in the table below. FY2025 Stormwater, FY2025: 2.4B (78.6%) 79% Stormwater Wastewater, FY2025: 653M (21.4%) 21% Wastewater FY2024 Stormwater, FY2024: 2.3B (80.1%) 80% Wastewater, FY2024: 577.9M (19.9%) 20% FY2023 Stormwater, FY2023: 2.4B (82.2%) 82% Wastewater, FY2023: 513M (17.8%) 18%
Segment FY2025FY2024FY2023
Stormwater $2.40B $2.33B $2.36B
Wastewater $653.0M $577.9M $513.0M

As the company reported it, from the “Business Segment Information - Schedule of Financial Information Attributable to Reportable Segments (Detail)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $3.05B$2.90B$2.87B$3.07B$2.77B$1.98B$1.67B$1.38B$1.33B$1.26B
Cost of revenue ———————$1.06B$1.03B$961.5M
Gross profit $1.17B$1.09B$1.15B$1.12B$800.4M$690.1M$316.5M$327.0M$302.5M$295.8M
SG&A —————$267.6M$271.3M$186.0M$98.4M$111.0M
Operating income $619.2M$657.4M$732.1M$719.3M$411.9M$344.5M-$95.3M$129.4M$88.3M$76.3M
Pre-tax income $559.8M$589.5M$666.8M$657.1M$383.5M$312.3M-$179.6M$111.6M$76.9M$64.8M
Income tax $135.0M$141.1M$159.0M$150.6M$110.1M$86.4M$14.1M$30.0M$11.4M$24.6M
Net income $429.0M$453.0M$513.0M$511.0M$275.0M$224.2M-$193.2M$77.8M$62.0M$62.0M
EPS, basic 5.485.816.526.163.222.64-3.211.231.001.00
EPS, diluted 5.445.766.456.083.152.59-3.211.220.990.99
Shares, diluted (wtd. avg.) 78.4M78.2M79.0M83.3M72.9M71.6M63.8M57.6M56.3M56.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $223.0M$463.3M$490.2M$217.1M$20.1M$195.0M$174.2M$8.9M$17.6M$6.5M
Receivables $390.5M$333.2M$323.6M$306.9M$341.8M$236.2M$200.0M$187.0M$172.0M$168.9M
Inventory $543.4M$488.3M$464.2M$464.0M$494.3M$301.0M$282.4M$264.5M$263.8M$258.4M
Total current assets $1.23B$1.32B$1.30B$1.02B$871.9M$743.0M$666.2M$466.5M$458.5M$440.6M
Property, plant and equipment —————$504.3M$481.4M$398.9M$399.4M$406.9M
Goodwill $1.04B$720.2M$617.2M$620.2M$610.3M$599.1M$597.8M$102.6M$103.0M$100.6M
Other intangibles $848.5M$448.1M$352.7M$407.6M$431.4M$482.0M$555.3M$37.2M$44.4M$51.8M
Total assets $4.51B$3.69B$3.27B$2.90B$2.65B$2.41B$2.37B$1.04B$1.04B$1.05B
Accounts payable $237.7M$218.0M$254.4M$210.1M$225.0M$171.1M$106.7M$93.6M$105.5M$121.9M
Short-term debt $5.9M$9.9M$11.9M$14.7M$19.5M$7.0M$8.0M$25.9M$26.8M$37.8M
Total current liabilities $509.5M$398.4M$439.6M$378.8M$391.2M$318.3M$238.2M$206.3M$221.2M$255.8M
Long-term debt $1.61B$1.25B$1.26B$1.27B$908.7M$782.2M$1.09B$208.6M$270.9M$310.8M
Total liabilities $2.55B$2.05B$1.99B$1.91B$1.54B$1.35B$1.59B$541.5M$609.4M$695.9M
Retained earnings $1.86B$1.49B$1.09B$626.2M$158.9M-$75.2M-$267.6M$17.6M-$39.2M-$83.7M
Total equity $1.86B$1.53B$1.17B$841.6M$909.7M$833.5M$537.5M$398.3M$324.3M$222.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $819.1M$581.5M$717.9M$707.8M$274.9M$452.2M$306.2M$151.7M$137.1M$104.2M
Depreciation and amortisation $154.4M$128.8M$100.3M$86.0M$73.5M$68.0M$64.6M$59.2M$62.1M$58.7M
Stock-based compensation —————$65.4M$32.4M$21.8M$18.8M$17.9M
Capital expenditure $249.8M$212.9M$183.8M$166.9M$149.1M$78.8M$67.7M$43.4M$41.7M$46.7M
Investing cash flow -$1.21B-$447.9M-$155.7M-$214.5M-$198.8M-$77.9M-$1.15B-$42.5M-$30.4M-$61.3M
Financing cash flow $156.3M-$157.7M-$284.3M-$296.3M-$251.1M-$354.6M$1.01B-$117.7M-$95.0M-$42.8M
Dividends paid $56.1M$49.7M$44.0M$39.6M$37.0M$30.7M$92.1M$26.1M$18.5M$16.8M
Buybacks $92.0M$69.9M$207.3M$575.0M$292.0M$0$0—$7.9M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001604028-26-000024.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B 4B Revenue, FY2016: 1.3B Gross profit, FY2016: 295.8M Net income, FY2016: 62M Revenue, FY2017: 1.3B Gross profit, FY2017: 302.5M Net income, FY2017: 62M Revenue, FY2018: 1.4B Gross profit, FY2018: 327M Net income, FY2018: 77.8M Revenue, FY2019: 1.7B Gross profit, FY2019: 316.5M Net income, FY2019: -193.2M Revenue, FY2020: 2B Gross profit, FY2020: 690.1M Net income, FY2020: 224.2M Revenue, FY2021: 2.8B Gross profit, FY2021: 800.4M Net income, FY2021: 275M Revenue, FY2022: 3.1B Gross profit, FY2022: 1.1B Net income, FY2022: 511M Revenue, FY2023: 2.9B Gross profit, FY2023: 1.1B Net income, FY2023: 513M Revenue, FY2024: 2.9B Gross profit, FY2024: 1.1B Net income, FY2024: 453M Revenue, FY2025: 3.1B Gross profit, FY2025: 1.2B Net income, FY2025: 429M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.26B $1.33B $1.38B $1.67B $1.98B $2.77B $3.07B $2.87B $2.90B $3.05B
Gross profit $295.8M $302.5M $327.0M $316.5M $690.1M $800.4M $1.12B $1.15B $1.09B $1.17B
Net income $62.0M $62.0M $77.8M -$193.2M $224.2M $275.0M $511.0M $513.0M $453.0M $429.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.