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Advanced Drainage Systems Inc (WMS) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

INDUSTRIALS · BUILDING PRODUCTS & EQUIPMENT · DATA UPDATED 2026-07-25

Advanced Drainage Systems Inc (WMS) operates in the BUILDING PRODUCTS & EQUIPMENT industry and is headquartered in Hilliard, United States with about 6,425 employees. Its market capitalization is roughly $11 billion. In the fiscal year ended 2026-03-31, WMS reported $3.0B in revenue and $426M in net income.

Advanced Drainage Systems, Inc. designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States, Canada, and internationally. The company operates through Stormwater and Wastewater segments.

Interactive charts & full statements → Open the WMS valuation workbench →

WMS Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2026-03-31	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31
Total Revenue	$3.0B	$3.0B	$2.9B	$2.9B	$3.1B	$2.8B	$2.0B	$1.7B	$1.4B	$1.3B	$1.3B	$1.2B	$1.2B	$1.1B	$1.0B	$1.0B	$863M
Gross Profit	$1.1B	$1.1B	$1.1B	$1.1B	$1.1B	$800M	$690M	$498M	$327M	$302M	$296M	$242M	$206M	$213M	$188M	$195M	$164M
Gross Margin %	37.2%	36.3%	37.7%	39.9%	36.4%	28.9%	34.8%	29.7%	23.6%	22.7%	23.5%	20.6%	17.5%	19.9%	18.5%	19.3%	19.0%
Operating Income (EBIT)	$695M	$687M	$657M	$732M	$719M	$412M	$345M	($95M)	$129M	$88M	$76M	$76M	$59M	$53M	$57M	$95M	$40M
Operating Margin %	22.8%	22.5%	22.6%	25.5%	23.4%	14.9%	17.4%	-5.7%	9.3%	6.6%	6.1%	6.4%	5.0%	5.0%	5.7%	9.4%	4.6%
Net Income	$426M	$426M	$450M	$510M	$507M	$271M	$224M	($193M)	$78M	$62M	$33M	$26M	$9M	$11M	$21M	$43M	$2M
Net Margin %	14.0%	14.0%	15.5%	17.7%	16.5%	9.8%	11.3%	-11.5%	5.6%	4.7%	2.6%	2.2%	0.7%	1.0%	2.0%	4.3%	0.3%
EBITDA	$870M	$872M	$865M	$911M	$872M	$559M	$494M	$282M	$202M	$167M	$155M	$90M	$68M	$113M	$120M	$148M	$96M
Earnings Per Share (EPS)	$5.45	$5.43	$5.76	$6.45	$6.08	$3.72	$3.13	$-3.03	$1.35	$1.10	$0.59	$0.51	$0.17	$0.20	$0.38	$0.79	$0.04
Shares Outstanding (M)	78M	78M	78M	79M	83M	73M	72M	64M	58M	56M	56M	52M	52M	56M	55M	55M	53M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WMS Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$677M	$693M	$850M	$830M	$616M	$691M	$783M	$815M
Gross Profit	$219M	$246M	$340M	$330M	$226M	$242M	$294M	$332M
Gross Margin %	32.4%	35.4%	40.0%	39.8%	36.7%	35.0%	37.6%	40.8%
Operating Income (EBIT)	$129M	$137M	$223M	$206M	$117M	$127M	$187M	$226M
Operating Margin %	19.1%	19.8%	26.3%	24.8%	19.0%	18.4%	23.9%	27.8%
Net Income	$33M	$94M	$156M	$144M	$77M	$81M	$130M	$161M
Net Margin %	4.9%	13.5%	18.4%	17.3%	12.5%	11.8%	16.7%	19.8%
EBITDA	$126M	$197M	$285M	$263M	$151M	$179M	$239M	$274M
Earnings Per Share (EPS)	$0.42	$1.20	$1.99	$1.84	$0.99	$1.04	$1.67	$2.06
Shares Outstanding (M)	78M	78M	78M	78M	78M	78M	78M	78M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WMS Free Cash Flow History

Cash flow	TTM → 2026-03-31	2026-03-31	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31
Cash from Operations (CFO)	$819M	$819M	$581M	$718M	$708M	$275M	$452M	$306M	$152M	$137M	$104M	$69M	$74M	$62M	$75M	$57M	$37M
Capital Expenditures (CapEx)	$250M	$250M	$213M	$184M	$167M	$149M	$79M	$68M	$43M	$42M	$51M	$36M	$32M	$44M	$40M	$30M	$30M
Free Cash Flow (FCF)	$569M	$569M	$369M	$534M	$541M	$126M	$373M	$239M	$108M	$95M	$53M	$32M	$42M	$19M	$36M	$27M	$7M
FCF Margin %	18.7%	18.7%	12.7%	18.6%	17.6%	4.5%	18.8%	14.2%	7.8%	7.2%	4.2%	2.8%	3.6%	1.7%	3.5%	2.7%	0.8%
Dividends Paid	$56M	$56M	$50M	$44M	$40M	$38M	$32M	$92M	$26M	$18M	$17M	$5M	$8M	$113M	$6M	$5M	$5M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WMS Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$40M	$269M	$235M	$275M	$41M	$190M	$167M	$183M
Capital Expenditures (CapEx)	$53M	$86M	$58M	$53M	$47M	$54M	$54M	$58M
Free Cash Flow (FCF)	($13M)	$184M	$176M	$222M	($5M)	$136M	$112M	$126M
FCF Margin %	-1.9%	26.5%	20.8%	26.8%	-0.9%	19.7%	14.4%	15.4%
Dividends Paid	$14M	$14M	$14M	$14M	$12M	$12M	$12M	$12M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WMS Balance Sheet History

Balance sheet	2026-03-31	2026-03-31	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31
Total Assets	$4.5B	$4.5B	$3.7B	$3.3B	$2.9B	$2.6B	$2.4B	$2.4B	$1.0B	$1.0B	$1.0B	$1.0B	$1.0B	$938M	$908M	$905M
Cash & Cash Equivalents	$223M	$223M	$463M	$490M	$217M	$20M	$195M	$174M	$9M	$18M	$6M	$4M	$4M	$4M	$1M	$2M
Total Liabilities	$2.5B	$2.5B	$2.1B	$2.0B	$1.9B	$1.5B	$1.4B	$1.6B	$542M	$618M	$704M	$727M	$727M	$761M	$585M	$615M
Total Debt (Short + Long-Term)	$1.7B	$1.7B	$1.3B	$1.3B	$1.3B	$947M	$818M	$1.1B	$258M	$320M	$370M	$341M	$400M	$466M	$350M	$12M
Total Shareholders' Equity	$1.9B	$1.9B	$1.6B	$1.3B	$977M	$1.1B	$1.1B	$773M	$487M	$409M	$327M	$292M	$315M	$223M	$299M	$269M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive WMS viewer.

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