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ADVANCED DRAINAGE SYSTEMS, INC.

WMS Clue Score51
United States Fiscal year ends March CIK 0001604028
$125.79 -0.33% Close, 9 Oct 2026
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Price $125.79 +12.41% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue1,257.3Operating income76.3Net income62.0EPS, diluted0.99Fiscal year 2018Revenue1,330.4 +5.8%Operating income88.3Net income62.0 +0.0%EPS, diluted0.99 +0.0%Fiscal year 2019Revenue1,384.7 +4.1%Operating income129.4Net income77.8 +25.4%EPS, diluted1.22 +23.2%Fiscal year 2020Revenue1,673.8 +20.9%Operating income−95.3Net income−193.2 −348.4%EPS, diluted−3.21 −363.1%Fiscal year 2021Revenue1,982.8 +18.5%Operating income344.5Net income224.2EPS, diluted2.59Fiscal year 2022Revenue2,769.3 +39.7%Operating income411.9Net income271.3 +21.0%EPS, diluted3.15 +21.6%Fiscal year 2023Revenue3,071.1 +10.9%Operating income719.3Net income507.1 +86.9%EPS, diluted6.08 +93.0%Fiscal year 2024Revenue2,874.5 −6.4%Operating income732.1Net income509.9 +0.6%EPS, diluted6.45 +6.1%Fiscal year 2025Revenue2,904.2 +1.0%Operating income657.4Net income450.2 −11.7%EPS, diluted5.76 −10.7%Fiscal year 2026Revenue3,050.4 +5.0%Operating income619.2Net income426.5 −5.3%EPS, diluted5.44 −5.6%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 1,257.3 1,330.4 1,384.7 1,673.8 1,982.8 2,769.3 3,071.1 2,874.5 2,904.2 3,050.4
Growth +5.8% +4.1% +20.9% +18.5% +39.7% +10.9% −6.4% +1.0% +5.0%
Operating income 76.3 88.3 129.4 −95.3 344.5 411.9 719.3 732.1 657.4 619.2
Net income 62.0 62.0 77.8 −193.2 224.2 271.3 507.1 509.9 450.2 426.5
Growth +0.0% +25.4% −348.4% +21.0% +86.9% +0.6% −11.7% −5.3%
EPS, diluted 0.99 0.99 1.22 −3.21 2.59 3.15 6.08 6.45 5.76 5.44
Growth +0.0% +23.2% −363.1% +21.6% +93.0% +6.1% −10.7% −5.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin23.5%Operating margin6.1%Net margin4.9%Free cash flow margin4.6%Fiscal year 2018Gross margin22.7%Operating margin6.6%Net margin4.7%Free cash flow margin7.2%Fiscal year 2019Gross margin23.6%Operating margin9.3%Net margin5.6%Free cash flow margin7.8%Fiscal year 2020Gross margin18.9%Operating margin−5.7%Net margin−11.5%Free cash flow margin14.2%Fiscal year 2021Gross margin34.8%Operating margin17.4%Net margin11.3%Free cash flow margin18.8%Fiscal year 2022Gross margin28.9%Operating margin14.9%Net margin9.8%Free cash flow margin4.5%Fiscal year 2023Gross margin36.4%Operating margin23.4%Net margin16.5%Free cash flow margin17.6%Fiscal year 2024Gross margin39.9%Operating margin25.5%Net margin17.7%Free cash flow margin18.6%Fiscal year 2025Gross margin37.7%Operating margin22.6%Net margin15.5%Free cash flow margin12.7%Fiscal year 2026Gross margin38.3%Operating margin20.3%Net margin14.0%Free cash flow margin18.7%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin 23.5% 22.7% 23.6% 18.9% 34.8% 28.9% 36.4% 39.9% 37.7% 38.3%
Operating margin 6.1% 6.6% 9.3% −5.7% 17.4% 14.9% 23.4% 25.5% 22.6% 20.3%
Net margin 4.9% 4.7% 5.6% −11.5% 11.3% 9.8% 16.5% 17.7% 15.5% 14.0%
Free cash flow margin 4.6% 7.2% 7.8% 14.2% 18.8% 4.5% 17.6% 18.6% 12.7% 18.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow104.2Capital expenditure−46.7Free cash flow57.6Dividends paid−16.8Fiscal year 2018Operating cash flow137.1Capital expenditure−41.7Free cash flow95.4 +65.8%Buybacks−7.9Dividends paid−18.5Fiscal year 2019Operating cash flow151.7Capital expenditure−43.4Free cash flow108.3 +13.5%Dividends paid−26.1Fiscal year 2020Operating cash flow306.2Capital expenditure−67.7Free cash flow238.5 +120.3%Buybacks0.0Dividends paid−92.1Fiscal year 2021Operating cash flow452.2Capital expenditure−78.8Free cash flow373.5 +56.6%Buybacks0.0Dividends paid−30.7Fiscal year 2022Operating cash flow274.9Capital expenditure−149.1Free cash flow125.8 −66.3%Buybacks−292.0Dividends paid−37.0Fiscal year 2023Operating cash flow707.8Capital expenditure−166.9Free cash flow540.9 +329.9%Buybacks−575.0Dividends paid−39.6Fiscal year 2024Operating cash flow717.9Capital expenditure−183.8Free cash flow534.1 −1.3%Buybacks−207.3Dividends paid−44.0Fiscal year 2025Operating cash flow581.5Capital expenditure−212.9Free cash flow368.5 −31.0%Buybacks−69.9Dividends paid−49.7Fiscal year 2026Operating cash flow819.1Capital expenditure−249.8Free cash flow569.3 +54.5%Buybacks−92.0Dividends paid−56.1
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 104.2 137.1 151.7 306.2 452.2 274.9 707.8 717.9 581.5 819.1
Capital expenditure −46.7 −41.7 −43.4 −67.7 −78.8 −149.1 −166.9 −183.8 −212.9 −249.8
Free cash flow 57.6 95.4 108.3 238.5 373.5 125.8 540.9 534.1 368.5 569.3
Growth +65.8% +13.5% +120.3% +56.6% −66.3% +329.9% −1.3% −31.0% +54.5%
Buybacks n/a −7.9 n/a 0.0 0.0 −292.0 −575.0 −207.3 −69.9 −92.0
Dividends paid −16.8 −18.5 −26.1 −92.1 −30.7 −37.0 −39.6 −44.0 −49.7 −56.1

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash6.5Total debt348.6Net cash (debt)−342.2Shareholders’ equity222.7Debt to equity1.57Fiscal year 2018Cash17.6Total debt297.7Net cash (debt)−280.2Shareholders’ equity307.6Debt to equity0.97Fiscal year 2019Cash8.9Total debt234.5Net cash (debt)−225.6Shareholders’ equity384.3Debt to equity0.61Fiscal year 2020Cash174.2Total debt1,097.3Net cash (debt)−923.1Shareholders’ equity525.7Debt to equity2.09Fiscal year 2021Cash195.0Total debt789.2Net cash (debt)−594.2Shareholders’ equity819.8Debt to equity0.96Fiscal year 2022Cash20.1Total debt928.2Net cash (debt)−908.0Shareholders’ equity893.0Debt to equity1.04Fiscal year 2023Cash217.1Total debt1,284.1Net cash (debt)−1,067.0Shareholders’ equity824.1Debt to equity1.56Fiscal year 2024Cash490.2Total debt1,271.4Net cash (debt)−781.2Shareholders’ equity1,153.3Debt to equity1.10Fiscal year 2025Cash463.3Total debt1,261.5Net cash (debt)−798.2Shareholders’ equity1,525.4Debt to equity0.83Fiscal year 2026Cash223.0Total debt1,611.8Net cash (debt)−1,388.8Shareholders’ equity1,858.7Debt to equity0.87
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 6.5 17.6 8.9 174.2 195.0 20.1 217.1 490.2 463.3 223.0
Total debt 348.6 297.7 234.5 1,097.3 789.2 928.2 1,284.1 1,271.4 1,261.5 1,611.8
Net cash (debt) −342.2 −280.2 −225.6 −923.1 −594.2 −908.0 −1,067.0 −781.2 −798.2 −1,388.8
Shareholders’ equity 222.7 307.6 384.3 525.7 819.8 893.0 824.1 1,153.3 1,525.4 1,858.7
Debt to equity 1.57 0.97 0.61 2.09 0.96 1.04 1.56 1.10 0.83 0.87

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending March, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Mar 2017 FY2018 31 Mar 2018 FY2019 31 Mar 2019 FY2020 31 Mar 2020 FY2021 31 Mar 2021 FY2022 31 Mar 2022 FY2023 31 Mar 2023 FY2024 31 Mar 2024 FY2025 31 Mar 2025 FY2026 31 Mar 2026
Revenue and profit
1,257.3 1,330.4 1,384.7 1,673.8 1,982.8 2,769.3 3,071.1 2,874.5 2,904.2 3,050.4
Growth +5.8% +4.1% +20.9% +18.5% +39.7% +10.9% −6.4% +1.0% +5.0%
961.5 1,027.9 1,057.8 n/a n/a n/a n/a n/a n/a n/a
295.8 302.5 327.0 316.5 690.1 800.4 1,118.4 1,145.9 1,094.2 1,167.4
Growth +2.3% +8.1% −3.2% +118.0% +16.0% +39.7% +2.5% −4.5% +6.7%
111.0 98.4 186.0 271.3 267.6 n/a n/a n/a n/a n/a
76.3 88.3 129.4 −95.3 344.5 411.9 719.3 732.1 657.4 619.2
Growth +15.6% +46.6% −173.7% +19.6% +74.6% +1.8% −10.2% −5.8%
64.8 76.9 111.6 −179.6 312.3 383.5 657.1 666.8 589.5 559.8
24.6 11.4 30.0 14.1 86.4 110.1 150.6 159.0 141.1 135.0
62.0 62.0 77.8 −193.2 224.2 271.3 507.1 509.9 450.2 426.5
Growth +0.0% +25.4% −348.4% +21.0% +86.9% +0.6% −11.7% −5.3%
Per share
1.00 1.00 1.23 −3.21 2.64 3.22 6.16 6.52 5.81 5.48
0.99 0.99 1.22 −3.21 2.59 3.15 6.08 6.45 5.76 5.44
Growth +0.0% +23.2% −363.1% +21.6% +93.0% +6.1% −10.7% −5.6%
55.7 55.7 57.0 63.8 70.2 71.3 82.3 78.3 77.5 77.8
56.3 56.3 57.6 63.8 71.6 72.9 83.3 79.0 78.2 78.4
Growth +0.0% +2.3% +10.8% +12.1% +1.9% +14.3% −5.2% −1.0% +0.2%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 9.0% a year over five years, and earnings per share grew 16.0% a year.
  • The diluted share count rose 9.5% in five years, which is dilution.
  • Operating margin is up 2.9 points on five years ago, at 20.3%.
  • A net loss in 1 of 10 years on file.