ADVANCED DRAINAGE SYSTEMS, INC.

Listed Company

WMSCIK 0001604028NYSELarge AcceleratedPlastics Foam ProductsDelawareFY ends Mar 31

Period

FY 2026

Revenue

$3.05B

Net Income

$426.46M

Total Assets

$4.51B

Equity

$1.86B

Shares Out

76.60M

Op. Cash Flow

$819.05M

Business

ADVANCED DRAINAGE SYSTEMS, INC. is a manufacturer of water management solutions focused on stormwater and onsite septic wastewater systems for construction and agriculture markets. It designs, manufactures and markets thermoplastic corrugated pipe, septic leachfield chambers, septic tanks, combined treatment systems, stormwater chambers, fittings, water quality filters, geotextiles and complementary resale products. Its operations are organized into key segments including Pipe, Infiltrator (onsite wastewater, including Orenco), International, and Allied Products & Other. The company sells across North America and internationally through manufacturing plants, distribution centers, joint ventures, national and independent distributors, retailers and direct channels to residential, non-residential, infrastructure and agricultural end markets.

Summary from filing dated 2025-05-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
Net sales	3,050	2,904	2,874
Cost of goods sold	1,883	1,810	1,729
Gross profit	1,167	1,094	1,146
Operating expenses:	—	—	—
Selling, general and administrative	470	380	371
Loss (gain) on disposal of assets and costs from exit and disposal activities	−19	−4	8
Intangible amortization	59	53	51
Income from operations	619	657	732
Other expense:	—	—	—
Interest expense	−94	−92	−89
Interest income and other, net	34	24	23
Income before income taxes	560	589	667
Income tax expense	135	141	159
Equity in net income of unconsolidated affiliates	5	4	6
Net income from continuing operations	430	453	513
Net sales	−1	0	0
Net income	429	453	513
Less: net income attributable to noncontrolling interest	2	2	3
Net income attributable to ADS	426	450	510
Weighted average common shares outstanding:	—	—	—
Basic (in shares)	78	78	78
Diluted (in shares)	78	78	79
Net income from continuing operations per share available to common stockholders:	—	—	—
Income (Loss) from Continuing Operations, Per Basic Share	5.5	5.81	6.52
Income (Loss) from Continuing Operations, Per Diluted Share	5.45	5.76	6.45
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share	−0.01	0	0
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share	−0.01	0	0
Basic (in dollars per share)	5.48	5.81	6.52
Diluted (in dollars per share)	5.44	5.76	6.45

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31
ASSETS	—	—
Current assets:	—	—
Cash	223	463
Receivables (less allowance for credit losses of $4,654 and $7,684, respectively)	391	333
Inventories	543	488
Assets held for sale	43	8
Other current assets	30	32
Total current assets	1,231	1,325
Property, plant and equipment, net	1,217	1,051
Other assets:	—	—
Goodwill	1,043	720
Intangible assets, net	849	448
Other assets	166	146
Total assets	4,506	3,690
LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY	—	—
Current liabilities:	—	—
Current maturities of debt obligations	6	10
Current maturities of finance lease obligations	38	33
Accounts payable	238	218
Liabilities held for sale	15	0
Other accrued liabilities	213	137
Total current liabilities	509	398
Long-term debt obligations (less unamortized debt issuance costs of $18,428 and $7,715, respectively)	1,606	1,252
Long-term finance lease obligations	122	131
Deferred tax liabilities	221	190
Other liabilities	91	83
Total liabilities	2,550	2,055
Commitments and contingencies (see Note 18)	—	—
Mezzanine equity:	—	—
Redeemable common stock: $0.01 par value; 4,533 and 5,702 shares outstanding, respectively	74	93
Total mezzanine equity	74	93
Stockholders’ equity:	—	—
Common stock: $0.01 par value; 1,000,000 shares authorized; 85,319 and 83,750 shares issued, respectively; 72,654 and 71,864 shares outstanding, respectively	12	12
Paid-in capital	1,342	1,278
Common stock in treasury, at cost	1,326	1,219
Accumulated other comprehensive loss	−32	−37
Retained earnings	1,863	1,493
Total ADS stockholders’ equity	1,859	1,525
Noncontrolling interest in subsidiaries	24	18
Total stockholders’ equity	1,882	1,543
Total liabilities, mezzanine equity and stockholders’ equity	4,506	3,690
Mezzanine equity, par value (in dollars per share)	0.01	0.01
Mezzanine equity outstanding (in shares)	5	6

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
Cash Flows from Operating Activities	—	—	—
Net income	429	453	513
Less: Net loss from discontinued operations, net of taxes	−1	0	0
Adjustments to reconcile net income to net cash provided by operating activities:	—	—	—
Depreciation and amortization	216	183	155
Deferred income taxes	35	−423,000	−2
Loss (gain) on disposal of assets and costs from exit and disposal activities	−19	−4	8
Stock-based compensation	32	27	32
Amortization of deferred financing charges	2	2	2
Inventory step up related to NDS acquisition	12	0	0
Fair market value adjustments to derivatives	5	−220,000	972,000
Equity in net income of unconsolidated affiliates	5	4	6
Other operating activities	−806,000	298,000	−7
Changes in working capital:	—	—	—
Receivables	2	−1	15
Inventories	−31	16	−594,000
Prepaid expenses and other current assets	1	4	275,000
Accounts payable, accrued expenses and other liabilities	54	−64	40
Cash Provided by (Used in) Discontinued Operation	−307,000	0	0
Net cash provided by operating activities	819	581	718
Cash Flows from Investing Activities	—	—	—
Capital expenditures	250	213	184
Proceeds from disposition of assets or businesses	33	0	27
Acquisition, net of cash acquired	991	237	0
Other investing activities	4	−2	−650,000
Net cash used in investing activities	−1,212	−448	−156
Cash Flows from Financing Activities	—	—	—
Proceeds from Term Loan Facility	600	0	0
Payments on syndicated Term Loan Facility	413	7	7
Proceeds from Credit Agreement	576	0	0
Payments on Credit Agreement	426	0	0
Proceeds from commercial loan agreement	27	0	0
Debt issuance costs	17	0	0
Payments on Equipment Financing	3	5	8
Payments on finance lease obligations	41	25	12
Repurchase of common stock	92	70	207
Cash dividends paid	56	50	44
Proceeds from noncontrolling interest holder	3	0	0
Dividends paid to noncontrolling interest holder	2	0	4
Proceeds from option exercises	7	10	6
Payment of withholding taxes on vesting of restricted stock units	7	11	9
Other financing activities	−2,000	2,000	0
Net cash provided by (used in) financing activities	156	−158	−284
Effect of exchange rate changes on cash	1	−2	799,000
Net change in cash	−235	−27	279
Cash and restricted cash at end of year	—	—	—
Cash and restricted cash at end of year	—	—	—
Cash and restricted cash at end of year	—	—	—
Cash	—	—	—

Filings

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