Advanced Drainage Systems Inc (WMS) financial statements: income statement, balance sheet and cash flow
Advanced Drainage Systems Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Mar 31, 2026 · FY), Advanced Drainage Systems Inc reported revenue of $3.1B (+5.0% year on year) and net income of $429.9M.
Income statement
Advanced Drainage Systems Inc income statement, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Net sales
$3.1B
$2.9B
$2.9B
$3.1B
Cost of goods sold
$1.9B
$1.8B
$1.7B
$2.0B
Gross profit
$1.2B
$1.1B
$1.1B
$1.1B
Selling, general and administrative
$469.5M
$380.4M
$370.7M
$339.5M
Loss (gain) on disposal of assets and costs from exit and disposal activities
$19.2M
$3.9M
($8.4M)
$4.4M
Intangible amortization
$59.4M
$52.6M
$51.5M
$55.2M
Income from operations
$619.2M
$657.4M
$732.1M
$719.3M
Interest expense
$93.9M
$91.8M
$88.9M
$70.2M
Interest income and other, net
($34.5M)
($23.8M)
($23.5M)
($8.0M)
Income before income taxes
$559.8M
$589.5M
$666.8M
$657.1M
Income tax expense
$135.0M
$141.1M
$159.0M
$150.6M
Equity in net income of unconsolidated affiliates
($5.1M)
($4.2M)
($5.5M)
($4.8M)
Net income from continuing operations
$429.9M
—
—
—
Net sales
($1.1M)
—
—
—
Net income
$428.8M
$452.6M
$513.3M
$511.4M
Less: net income attributable to noncontrolling interest
$2.3M
$2.4M
$3.4M
$4.3M
Net income attributable to ADS
$426.5M
$450.2M
$509.9M
$507.1M
Basic (in shares)
77.8M
77.5M
78.3M
82.3M
Diluted (in shares)
78.4M
78.2M
79.0M
83.3M
Income (Loss) from Continuing Operations, Per Basic Share
$5.5
—
—
—
Income (Loss) from Continuing Operations, Per Diluted Share
$5.45
—
—
—
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share
($0.01)
—
—
—
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share
($0.01)
—
—
—
Basic (in dollars per share)
$5.48
$5.81
$6.52
$6.16
Diluted (in dollars per share)
$5.44
$5.76
$6.45
$6.08
Advanced Drainage Systems Inc income statement, quarters
Line item
Jun 30, 2026 · Q1
Dec 31, 2025 · Q3
Sep 30, 2025 · Q2
Jun 30, 2025 · Q1
Net sales
$1.0B
$693.4M
$850.4M
$829.9M
Cost of goods sold
$593.1M
$434.2M
$510.2M
$499.4M
Gross profit
$408.0M
$259.2M
$340.1M
$330.4M
Selling, general and administrative
$130.8M
$108.7M
$119.2M
$104.0M
Loss on disposal of assets and costs from exit and disposal activities
$2.6M
$87.0K
($15.9M)
$7.0M
Intangible amortization
$20.1M
$13.5M
$13.5M
$13.7M
Income from operations
$254.5M
$136.8M
$223.3M
$205.7M
Interest expense
$27.0M
$22.6M
$23.1M
$23.0M
Interest income and other, net
($1.5M)
($8.5M)
($8.0M)
($6.7M)
Income before income taxes
$229.0M
$122.7M
$208.2M
$189.4M
Income tax expense
$53.7M
$30.6M
$52.4M
$46.7M
Equity in net income of unconsolidated affiliates
($1.3M)
($1.9M)
($708.0K)
($1.3M)
Net income from continuing operations
$176.6M
—
—
—
Net loss from discontinued operations, net of taxes
($5.7M)
—
—
—
Net income
$170.9M
$94.0M
$156.5M
$144.1M
Less: net income attributable to noncontrolling interest
$2.4M
$411.0K
$483.0K
$169.0K
Net income attributable to ADS
$168.5M
$93.6M
$156.0M
$143.9M
Basic (in shares)
76.5M
77.8M
77.8M
77.6M
Diluted (in shares)
77.0M
78.4M
78.3M
78.1M
Income (Loss) from Continuing Operations, Per Basic Share
$2.28
—
—
—
Income (Loss) from Continuing Operations, Per Diluted Share
$2.26
—
—
—
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share
($0.07)
—
—
—
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share
($0.07)
—
—
—
Basic (in dollars per share)
$2.20
$1.20
$2.01
$1.85
Diluted (in dollars per share)
$2.19
$1.19
$1.99
$1.84
Balance sheet
Advanced Drainage Systems Inc balance sheet, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Cash
$223.0M
$463.3M
$490.2M
$217.1M
Receivables (less allowance for credit losses of $4,654 and $7,684, respectively)
$390.5M
$333.2M
$323.6M
$306.9M
Inventories
$543.4M
$488.3M
$464.2M
$464.0M
Assets held for sale
$43.5M
—
—
—
Other current assets
$30.4M
$40.0M
$22.0M
$29.4M
Total current assets
$1.2B
$1.3B
$1.3B
$1.0B
Property, plant and equipment, net
$1.2B
$1.1B
$876.4M
$733.1M
Goodwill
$1.0B
$720.2M
$617.2M
$620.2M
Intangible assets, net
$848.5M
$448.1M
$352.7M
$407.6M
Other assets
$166.4M
$146.3M
$122.8M
$122.8M
Total assets
$4.5B
$3.7B
$3.3B
$2.9B
Current maturities of debt obligations
$5.9M
$9.9M
$11.9M
$14.7M
Current maturities of finance lease obligations
$38.1M
$33.1M
$18.0M
$8.5M
Accounts payable
$237.7M
$218.0M
$254.4M
$210.1M
Liabilities held for sale
$15.1M
—
—
—
Other accrued liabilities
$212.6M
$137.3M
$154.3M
$142.4M
Total current liabilities
$509.5M
$398.4M
$439.6M
$378.8M
Long-term debt obligations (less unamortized debt issuance costs of $18,428 and $7,715, respectively)
$1.6B
$1.3B
$1.3B
$1.3B
Long-term finance lease obligations
$121.9M
$131.0M
$61.7M
$32.3M
Deferred tax liabilities
$221.0M
$190.4M
$156.7M
$159.1M
Other liabilities
$91.3M
$83.2M
$70.7M
$66.7M
Total liabilities
$2.5B
$2.1B
$2.0B
$1.9B
Redeemable common stock: $0.01 par value; 4,533 and 5,702 shares outstanding, respectively
73.7M
92.7M
108.6M
153.2M
Total mezzanine equity
$73.7M
$92.7M
$108.6M
$153.2M
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
11.7M
11.7M
11.7M
11.6M
Paid-in capital
$1.3B
$1.3B
$1.2B
$1.1B
Common stock in treasury, at cost
($1.3B)
($1.2B)
($1.1B)
($921.0M)
Accumulated other comprehensive loss
($32.3M)
($37.2M)
($29.8M)
($27.6M)
Retained earnings
$1.9B
$1.5B
$1.1B
$626.2M
Total ADS stockholders’ equity
$1.9B
$1.5B
$1.2B
$824.1M
Noncontrolling interest in subsidiaries
$23.6M
$17.7M
$18.8M
$17.5M
Total stockholders’ equity
$1.9B
$1.5B
$1.2B
$841.6M
Total liabilities, mezzanine equity and stockholders’ equity
$4.5B
$3.7B
$3.3B
$2.9B
Mezzanine equity, par value (in dollars per share)
$0.01
$0.01
$0.01
$0.02
Mezzanine equity outstanding (in shares)
4.5M
5.7M
6.7M
9.4M
Advanced Drainage Systems Inc balance sheet, quarters
Line item
Jun 30, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
Cash
$162.3M
$1.0B
$812.9M
$638.3M
Receivables (less allowance for doubtful accounts of $4,340 and $4,654, respectively)
$458.6M
$237.6M
$400.5M
$379.8M
Inventories
$548.5M
$431.2M
$423.8M
$453.7M
Total assets held-for-sale
$38.5M
—
—
—
Other current assets
$33.1M
$28.1M
$35.8M
$45.3M
Total current assets
$1.2B
$1.7B
$1.7B
$1.5B
Property, plant and equipment, net
$1.2B
$1.2B
$1.1B
$1.1B
Goodwill
$1.0B
$725.2M
$725.3M
$725.7M
Intangible assets, net
$828.5M
$410.3M
$423.8M
$437.3M
Other assets
$167.8M
$150.2M
$146.4M
$151.2M
Total assets
$4.5B
$4.1B
$4.1B
$3.9B
Current maturities of debt obligations
$7.7M
$6.5M
$8.7M
$9.3M
Current maturities of finance lease obligations
$38.2M
$36.7M
$40.8M
$35.2M
Accounts payable
$298.2M
$168.9M
$225.9M
$227.1M
Total liabilities held-for-sale
$12.4M
—
—
—
Other accrued liabilities
$212.4M
$193.9M
$190.1M
$161.2M
Accrued income taxes
$16.7M
$7.5M
$15.4M
$38.8M
Total current liabilities
$585.6M
$413.4M
$480.9M
$471.6M
Long-term debt obligations (less unamortized debt issuance costs of $17,468 and $18,428, respectively)
$1.6B
$1.3B
$1.2B
$1.3B
Long-term finance lease obligations
$115.0M
$126.8M
$133.0M
$135.7M
Deferred tax liabilities
$221.3M
$216.8M
$206.9M
$186.8M
Other liabilities
$93.0M
$82.6M
$80.9M
$87.6M
Total liabilities
$2.6B
$2.1B
$2.2B
$2.1B
Mezzanine equity, par value per share
$0.01
$0.01
$0.01
$0.01
Redeemable common stock: $0.01 par value; 4,422 and 4,533 shares outstanding, respectively
71.8M
78.3M
82.6M
88.0M
Total mezzanine equity
$71.8M
$78.3M
$82.6M
$88.0M
Common stock; $0.01 par value: 1,000,000 shares authorized; 85,702 and 85,319 shares issued, respectively; 71,320 and 72,654 shares outstanding, respectively
11.7M
11.7M
11.7M
11.7M
Paid-in capital
$1.4B
$1.3B
$1.3B
$1.3B
Common stock in treasury, at cost
($1.6B)
($1.2B)
($1.2B)
($1.2B)
Accumulated other comprehensive loss
($33.1M)
($30.2M)
($33.2M)
($31.6M)
Retained earnings
$2.0B
$1.8B
$1.8B
$1.6B
Total ADS stockholders’ equity
$1.8B
$1.9B
$1.8B
$1.7B
Noncontrolling interest in subsidiaries
$26.7M
$22.4M
$20.2M
$19.2M
Total stockholders’ equity
$1.8B
$2.0B
$1.8B
$1.7B
Total liabilities, mezzanine equity and stockholders’ equity
$4.5B
$4.1B
$4.1B
$3.9B
Cash flow statement
Advanced Drainage Systems Inc cash flow statement, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Net income
$428.8M
$452.6M
$513.3M
$511.4M
Less: Net loss from discontinued operations, net of taxes
($1.1M)
—
—
—
Depreciation and amortization
$216.3M
$183.3M
$154.9M
$145.1M
Deferred income taxes
$35.4M
($423.0K)
($2.3M)
($9.9M)
Loss (gain) on disposal of assets and costs from exit and disposal activities
$19.2M
$3.9M
($8.4M)
$4.4M
Stock-based compensation
$32.4M
$26.6M
$32.0M
$21.7M
Amortization of deferred financing charges
$2.2M
$2.0M
$2.0M
$1.4M
Inventory step up related to NDS acquisition
$12.3M
—
—
—
Fair market value adjustments to derivatives
($5.1M)
$220.0K
($972.0K)
$3.6M
Equity in net income of unconsolidated affiliates
($5.1M)
($4.2M)
($5.5M)
($4.8M)
Other operating activities
$806.0K
($298.0K)
$6.7M
$1.5M
Receivables
($2.3M)
$1.4M
($14.6M)
$37.5M
Inventories
$30.6M
($15.7M)
$594.0K
$30.2M
Prepaid expenses and other current assets
($1.1M)
($4.0M)
($275.0K)
($5.3M)
Accounts payable, accrued expenses and other liabilities
$54.0M
($63.9M)
$40.4M
($29.0M)
Cash Provided by (Used in) Discontinued Operation
($307.0K)
—
—
—
Net cash provided by operating activities
$819.1M
$581.5M
$717.9M
$707.8M
Capital expenditures
($249.8M)
($212.9M)
($183.8M)
($166.9M)
Proceeds from disposition of assets or businesses
$32.5M
$0
$27.5M
—
Acquisition, net of cash acquired
($991.1M)
($237.3M)
$0
($48.0M)
Other investing activities
($3.5M)
$2.4M
$650.0K
$446.0K
Net cash used in investing activities
($1.2B)
($447.9M)
($155.7M)
($214.5M)
Proceeds from Term Loan Facility
$600.0M
—
—
—
Payments on syndicated Term Loan Facility
($413.3M)
($7.0M)
($7.0M)
($7.0M)
Proceeds from Credit Agreement
$575.5M
$0
$0
$123.2M
Payments on Credit Agreement
($425.5M)
$0
$0
($237.5M)
Proceeds from commercial loan agreement
$27.2M
$0
$0
$500.0M
Debt issuance costs
($17.2M)
$0
$0
($11.6M)
Payments on Equipment Financing
($2.9M)
($4.9M)
($7.7M)
($12.5M)
Payments on finance lease obligations
($40.6M)
($25.5M)
($12.1M)
($7.7M)
Repurchase of common stock
($92.0M)
($69.9M)
($207.3M)
($575.0M)
Cash dividends paid
($56.1M)
($49.7M)
($44.0M)
($39.6M)
Proceeds from noncontrolling interest holder
$3.3M
—
—
—
Dividends paid to noncontrolling interest holder
($2.0M)
$0
($3.7M)
($5.3M)
Proceeds from option exercises
$6.8M
$10.0M
$6.5M
$5.7M
Payment of withholding taxes on vesting of restricted stock units
($7.1M)
($10.7M)
($8.9M)
($28.7M)
Other financing activities
($2.0K)
$2.0K
$0
($260.0K)
Net cash provided by (used in) financing activities
$156.3M
($157.7M)
($284.3M)
($296.3M)
Effect of exchange rate changes on cash
$1.1M
($2.5M)
$799.0K
($52.0K)
Net change in cash
($235.3M)
($26.6M)
$278.7M
$197.0M
Cash at beginning of year
$469.3M
$495.8M
$217.1M
$20.1M
Cash and restricted cash at end of year
$224.8M
$469.3M
$495.8M
—
Cash and restricted cash at end of year
$234.0M
—
—
—
Cash
($9.2M)
$463.3M
$490.2M
—
Advanced Drainage Systems Inc cash flow statement, quarters
Line item
Jun 30, 2026 · Q1
Dec 31, 2025 · YTD
Sep 30, 2025 · YTD
Jun 30, 2025 · Q1
Net income
$170.9M
$394.6M
$300.6M
$144.1M
Net loss from discontinued operations, net of taxes
($5.7M)
—
—
—
Depreciation and amortization
$62.2M
$156.4M
$104.9M
$50.2M
Deferred income taxes
$1.2M
$25.1M
$15.2M
($3.7M)
Loss on disposal of assets and costs from exit and disposal activities
$2.6M
($8.8M)
($8.9M)
$7.0M
Stock-based compensation
$13.3M
$25.8M
$17.0M
$8.4M
Amortization of deferred financing charges
$960.0K
$1.3M
$1.0M
$511.0K
Inventory Step-up Related to Acquisition
$14.2M
—
—
—
Fair market value adjustments to derivatives
$2.4M
$569.0K
($252.0K)
$77.0K
Equity in net income of unconsolidated affiliates
($1.3M)
($3.9M)
($2.1M)
($1.3M)
Other operating activities
$1.9M
$1.8M
$778.0K
$809.0K
Receivables
($70.2M)
$100.2M
($62.6M)
($42.1M)
Inventories
($19.9M)
$62.6M
$69.5M
$40.0M
Prepaid expenses and other current assets
($4.2M)
$900.0K
($3.5M)
($5.9M)
Accounts payable, accrued expenses, and other liabilities
$83.3M
$22.6M
$78.2M
$77.0M
Cash Provided by (Used in) Discontinued Operation
($2.7M)
—
—
—
Net cash provided by operating activities
$260.4M
$779.1M
$509.8M
$275.0M
Capital expenditures
($57.2M)
($196.7M)
($111.0M)
($52.6M)
Proceeds from disposal of assets
$726.0K
$32.3M
$26.5M
—
Acquisitions, net of cash acquired
$0
($18.6M)
($18.6M)
$19.6M
Other investing activities
$1.4M
($3.5M)
($2.2M)
$2.2M
Net cash used in investing activities
($55.0M)
($186.6M)
($105.3M)
($69.9M)
Payments on syndicated Term Loan Facility
$0
($5.3M)
($3.5M)
($1.8M)
Payments on Equipment Financing
($299.0K)
($2.6M)
($1.9M)
($933.0K)
Payments on finance lease obligations
($9.5M)
($31.2M)
($17.2M)
($8.3M)
Repurchase of common stock
($233.2M)
$0
$0
$0
Cash dividends paid
($15.3M)
($42.1M)
($28.1M)
($14.0M)
Proceeds from exercise of stock options
$475.0K
$5.1M
$1.5M
$549.0K
Payment of withholding taxes on vesting of restricted stock units
($10.7M)
($7.0M)
($6.7M)
($6.7M)
Net cash used in financing activities
($268.6M)
($52.6M)
($55.9M)
($31.1M)
Effect of exchange rate changes on cash
$112.0K
$1.7M
$1.0M
$1.1M
Net change in cash
($63.1M)
$541.6M
$349.7M
$175.0M
Cash and restricted cash at beginning of period
$234.0M
$469.3M
$469.3M
$469.3M
Cash and restricted cash, excluding held for sale, at end of period
$162.4M
—
—
—
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Including Discontinued Operation