Advanced Drainage Systems (WMS) Financials

$110.24 -0.76 (-0.68%)

Closing price 05/23/2025 03:59 PM Eastern

Extended Trading

$109.78 -0.47 (-0.42%)

As of 05/23/2025 04:20 PM Eastern

Annual Income Statements for Advanced Drainage Systems

This table shows Advanced Drainage Systems' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/31/2020	3/31/2019	3/31/2018	3/31/2017	3/31/2016	3/31/2015
Net Income / (Loss) Attributable to Common Shareholders	510	507	271	224	-193	78	62	33	25	-20
Consolidated Net Income / (Loss)	513	511	275	226	-192	81	65	36	31	-3.70
Net Income / (Loss) Continuing Operations	513	511	275	226	-192	81	65	36	31	-3.70
Total Pre-Tax Income	667	657	384	312	-180	112	77	65	59	4.92
Total Operating Income	732	719	412	345	-95	129	88	76	94	39
Total Gross Profit	1,146	1,118	800	690	316	327	302	296	285	205
Total Revenue	2,874	3,071	2,769	1,983	1,674	1,385	1,330	1,257	1,291	1,180
Operating Revenue	2,874	3,071	2,769	1,983	1,674	1,385	1,330	1,257	1,291	1,180
Total Cost of Revenue	1,729	1,953	1,969	1,293	1,357	1,058	1,028	961	1,005	975
Operating Cost of Revenue	1,729	1,953	1,969	1,293	1,357	1,058	1,028	961	1,005	975
Total Operating Expenses	414	399	388	346	412	198	214	219	191	166
Selling, General & Admin Expense	371	340	321	268	349	186	98	111	93	76
Amortization Expense	51	55	64	74	57	7.88	8.07	8.55	9.22	9.75
Other Special Charges / (Income)	-8.37	4.40	3.40	4.28	5.34	3.65	15	8.51	0.81	0.36
Total Other Income / (Expense), net	-65	-62	-28	-32	-84	-18	-11	-11	-35	-34
Interest & Investment Income	-89	-70	-34	-36	-83	-19	-15	-17	-18	-19
Other Income / (Expense), net	23	7.97	5.14	3.40	-1.55	0.82	3.95	5.97	-17	-14
Income Tax Expense	159	151	110	86	14	30	11	25	23	6.28
Other Gains / (Losses), net	5.54	4.84	1.59	0.20	1.91	-0.10	-0.74	-4.31	-5.23	-2.34
Net Income / (Loss) Attributable to Noncontrolling Interest	3.38	4.27	3.70	1.86	1.38	3.69	2.79	2.96	5.52	4.13
Basic Earnings per Share	$6.52	$6.16	$3.22	$2.64	($3.21)	$1.23	$1.00	$0.51	$0.40	($0.38)
Weighted Average Basic Shares Outstanding	78.25M	82.32M	71.28M	70.16M	63.82M	57.03M	55.70M	54.92M	53.98M	51.34M
Diluted Earnings per Share	$6.45	$6.08	$3.15	$2.59	($3.21)	$1.22	$0.99	$0.50	$0.39	($0.38)
Weighted Average Diluted Shares Outstanding	79.02M	83.34M	72.91M	71.57M	63.82M	57.61M	56.33M	55.62M	55.18M	51.34M
Weighted Average Basic & Diluted Shares Outstanding	77.43M	78.97M	84.35M	71.59M	69.34M	57.52M	62M	64.60M	53.50M	51.80M
Cash Dividends to Common per Share	$0.56	$0.48	$0.44	$0.36	$1.36	$0.32	$0.28	$0.24	$0.20	$0.08

This table shows Advanced Drainage Systems' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q2 2025	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	12/31/2023	9/30/2023	6/30/2024	3/31/2023	12/31/2023	9/30/2022	6/30/2023	3/31/2022	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	81	130	106	136	161	76	106	152	174	38	82
Consolidated Net Income / (Loss)	82	131	107	137	162	77	107	153	174	38	83
Net Income / (Loss) Continuing Operations	82	131	107	137	162	77	107	153	174	38	83
Total Pre-Tax Income	109	171	136	184	211	95	136	199	227	69	109
Total Operating Income	127	187	153	198	226	103	153	218	245	67	124
Total Gross Profit	242	294	260	303	332	207	260	320	331	175	224
Total Revenue	691	783	662	780	815	746	662	884	778	738	655
Operating Revenue	691	783	662	780	815	746	662	884	778	738	655
Total Cost of Revenue	449	489	403	478	483	539	403	564	447	563	431
Operating Cost of Revenue	449	489	403	478	483	539	403	564	447	563	431
Total Operating Expenses	115	107	107	105	106	104	107	102	86	109	99
Marketing Expense	101	94	91	92	94	-	91	89	87	-	86
Amortization Expense	14	12	13	13	12	16	13	14	13	19	14
Other Special Charges / (Income)	-0.48	0.62	2.51	0.12	0.29	15	2.51	-0.10	-13	4.66	-0.35
Total Other Income / (Expense), net	-18	-16	-18	-14	-16	-7.83	-18	-19	-18	2.00	-16
Interest & Investment Income	-23	-23	-22	-22	-23	-7.88	-22	-18	-22	2.80	-20
Other Income / (Expense), net	4.79	6.96	4.77	7.51	7.12	0.05	4.77	-0.40	3.55	-0.79	4.13
Income Tax Expense	27	41	30	47	50	18	30	48	55	31	26
Other Gains / (Losses), net	0.82	0.92	1.30	0.90	1.70	-0.09	1.30	1.96	1.68	0.54	0.64
Net Income / (Loss) Attributable to Noncontrolling Interest	1.06	0.79	1.24	1.23	0.92	1.40	1.24	1.37	0.25	0.46	1.14
Basic Earnings per Share	$1.05	$1.68	$1.36	$1.73	$2.08	$0.78	$1.36	$1.82	$2.20	$0.43	$1.00
Weighted Average Basic Shares Outstanding	77.54M	77.54M	77.86M	78.61M	77.54M	82.32M	77.86M	83.47M	78.91M	71.28M	82.07M
Diluted Earnings per Share	$1.04	$1.67	$1.34	$1.71	$2.06	$0.76	$1.34	$1.80	$2.18	$0.41	$0.99
Weighted Average Diluted Shares Outstanding	78.12M	78.11M	78.59M	79.31M	78.28M	83.34M	78.59M	84.50M	79.63M	72.91M	82.99M
Weighted Average Basic & Diluted Shares Outstanding	77.57M	77.54M	-	-	77.52M	78.97M	77.62M	82.86M	-	84.35M	71.92M
Cash Dividends to Common per Share	$0.16	$0.16	$0.14	$0.14	$0.16	-	$0.12	$0.12	$0.14	-	$0.11

This table details how cash moves in and out of Advanced Drainage Systems' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/31/2020	3/31/2019	3/31/2018	3/31/2017	3/31/2016	3/31/2015
Net Change in Cash & Equivalents	279	197	-175	21	167	-8.70	11	-0.11	2.93	-0.31
Net Cash From Operating Activities	718	708	275	452	306	152	137	104	135	74
Net Cash From Continuing Operating Activities	718	708	275	452	306	152	137	104	135	74
Net Income / (Loss) Continuing Operations	513	511	275	226	-192	81	65	36	31	-3.70
Consolidated Net Income / (Loss)	513	511	275	226	-192	81	65	36	31	-3.70
Depreciation Expense	155	145	142	146	125	72	75	72	71	65
Amortization Expense	2.04	1.42	0.38	0.38	34	0.74	0.93	1.41	1.41	1.41
Non-Cash Adjustments To Reconcile Net Income	24	26	97	73	288	23	30	12	20	47
Changes in Operating Assets and Liabilities, net	24	24	-239	7.24	51	-25	-34	-18	12	-36
Net Cash From Investing Activities	-156	-214	-199	-78	-1,150	-43	-30	-61	-49	-76
Net Cash From Continuing Investing Activities	-156	-214	-199	-78	-1,150	-43	-30	-61	-49	-76
Purchase of Property, Plant & Equipment	-184	-167	-149	-79	-68	-43	-42	-51	-45	-32
Acquisitions	0.00	-48	-49	0.00	-1,089	0.00	0.00	-8.57	-3.19	-36
Divestitures	27	0.00	0.00	-	-	-	-	-	-	0.54
Other Investing Activities, net	0.65	0.45	-0.44	0.88	6.53	0.87	11	-1.39	-0.89	-0.60
Net Cash From Financing Activities	-284	-296	-251	-355	1,012	-118	-95	-43	-83	1.79
Net Cash From Continuing Financing Activities	-284	-296	-251	-355	1,012	-118	-95	-43	-83	1.79
Repayment of Debt	-15	-269	-230	-308	-951	-470	-616	-448	-484	-453
Repurchase of Common Equity	-207	-575	-292	0.00	0.00	-8.82	-7.95	-	-	-0.00
Payment of Dividends	-48	-45	-38	-32	-92	-26	-18	-17	-16	-7.87
Issuance of Debt	0.00	623	368	0.00	1,832	406	563	413	415	389
Other Financing Activities, net	-15	-31	-59	-14	-71	-18	-15	8.63	1.77	-5.37
Effect of Exchange Rate Changes	0.80	-0.05	0.13	1.02	-	-0.18	-0.59	-0.26	-0.43	-0.39

This table details how cash moves in and out of Advanced Drainage Systems' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	12/31/2023	9/30/2023	6/30/2024	3/31/2023	12/31/2023	9/30/2022	6/30/2023	3/31/2022	12/31/2021
Net Change in Cash & Equivalents	-124	96	202	52	-210	-88	288	149	-2.05	8.17
Net Cash From Operating Activities	190	241	275	183	47	263	193	244	81	99
Net Cash From Continuing Operating Activities	190	241	275	183	47	263	193	244	81	99
Net Income / (Loss) Continuing Operations	82	107	149	162	86	76	168	174	47	74
Consolidated Net Income / (Loss)	82	107	149	162	86	76	168	174	47	74
Depreciation Expense	48	38	33	41	38	41	34	37	38	35
Amortization Expense	0.51	0.51	0.51	0.51	0.51	1.14	-0.11	0.51	0.10	0.10
Non-Cash Adjustments To Reconcile Net Income	10	15	-2.52	1.86	5.27	2.31	20	-7.61	43	16
Changes in Operating Assets and Liabilities, net	49	81	96	-22	-83	143	-29	40	-47	-27
Net Cash From Investing Activities	-291	-54	-4.98	-57	-40	7.63	-102	-22	-49	-88
Net Cash From Continuing Investing Activities	-291	-54	-4.98	-57	-40	7.63	-102	-22	-49	-88
Purchase of Property, Plant & Equipment	-54	-54	-25	-58	-40	-61	-33	-42	-49	-37
Other Investing Activities, net	0.19	0.08	-0.05	0.50	0.40	0.48	-0.11	0.16	0.02	-2.02
Net Cash From Financing Activities	-21	-93	-69	-74	-218	-361	198	-74	-34	-2.98
Net Cash From Continuing Financing Activities	-21	-93	-69	-74	-218	-361	198	-74	-34	-2.98
Repayment of Debt	-1.25	-1.90	-3.08	-1.38	-4.33	248	-257	-2.26	-99	-103
Payment of Dividends	-12	-11	-9.80	-12	-11	-11	-11	-11	-9.20	-9.07
Other Financing Activities, net	-7.65	-3.64	-4.30	-11	-2.19	10	-12	-12	-0.79	-38
Effect of Exchange Rate Changes	-1.38	1.27	0.80	-0.79	0.41	2.37	-1.57	0.47	0.20	0.01

This table presents Advanced Drainage Systems' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/31/2020	3/31/2019	3/31/2018	3/31/2017	3/31/2016	3/31/2015
Total Assets	3,269	2,901	2,650	2,414	2,370	1,042	1,043	1,046	1,037	1,038
Total Current Assets	1,300	1,017	872	743	666	467	458	441	440	444
Cash & Equivalents	490	217	20	195	174	8.89	18	6.45	6.56	3.62
Accounts Receivable	324	307	342	236	200	187	172	169	187	154
Inventories, net	464	464	494	301	282	265	264	258	230	261
Other Current Assets	22	29	16	11	9.55	6.09	5.11	6.74	-	-
Plant, Property, & Equipment, net	876	733	619	0.00	481	399	399	407	392	376
Total Noncurrent Assets	1,093	1,151	1,158	1,671	1,222	177	185	199	206	218
Goodwill	617	620	610	599	598	103	103	101	101	99
Intangible Assets	353	408	431	482	555	37	44	52	60	58
Other Noncurrent Operating Assets	123	123	117	590	69	37	38	47	45	61
Total Liabilities & Shareholders' Equity	3,269	2,901	2,650	2,414	2,370	1,042	1,043	1,046	1,037	1,038
Total Liabilities	1,988	1,906	1,545	1,350	1,585	542	609	696	723	753
Total Current Liabilities	440	379	391	318	238	206	221	256	252	215
Short-Term Debt	12	15	19	7.00	7.96	26	49	59	55	25
Accounts Payable	254	210	225	171	107	94	106	122	120	112
Accrued Expenses	154	142	135	116	101	62	61	66	65	54
Current Deferred & Payable Income Tax Liabilities	1.08	3.06	6.84	4.70	2.05	1.76	6.31	8.21	2.26	6.30
Other Current Liabilities	18	8.54	5.09	19	20	23	-	-	-	-
Total Noncurrent Liabilities	1,549	1,527	1,153	1,032	1,347	335	388	440	471	538
Long-Term Debt	1,260	1,269	909	782	1,134	270	271	311	312	390
Capital Lease Obligations	62	32	-	33	-	-	60	59	57	46
Noncurrent Deferred & Payable Income Tax Liabilities	157	159	168	162	176	46	32	44	64	63
Other Noncurrent Operating Liabilities	71	67	76	55	38	19	25	27	38	39
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	109	153	195	230	247	102	110	113	112	108
Total Equity & Noncontrolling Interests	1,172	842	910	834	537	398	324	238	202	177
Total Preferred & Common Equity	1,153	824	893	820	526	384	308	223	187	161
Total Common Equity	1,153	824	893	820	526	384	308	223	187	161
Common Stock	1,232	1,147	1,077	930	839	402	376	768	751	736
Retained Earnings	1,092	626	159	-75	-268	18	-39	-84	-102	-115
Treasury Stock	-1,141	-921	-319	-11	-10	-9.86	-8.28	-437	-441	-445
Accumulated Other Comprehensive Income / (Loss)	-30	-28	-24	-24	-35	-26	-21	-25	-21	-16
Noncontrolling Interest	19	17	17	14	12	14	17	15	15	16

This table presents Advanced Drainage Systems' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q2 2025	Q1 2024	Q3 2023	Q2 2023	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	12/31/2023	9/30/2022	12/31/2021
Total Assets	3,602	3,536	3,448	3,162	3,178	2,556
Total Current Assets	1,245	1,492	1,424	1,238	1,348	807
Cash & Equivalents	489	613	542	561	457	22
Accounts Receivable	248	358	369	241	388	303
Inventories, net	476	487	488	405	479	466
Other Current Assets	32	34	26	31	23	16
Plant, Property, & Equipment, net	1,018	955	928	811	653	591
Total Noncurrent Assets	1,340	1,088	1,096	1,113	1,176	1,158
Goodwill	721	617	617	617	619	612
Intangible Assets	462	329	341	366	435	447
Other Noncurrent Operating Assets	157	142	138	130	122	99
Total Liabilities & Shareholders' Equity	3,602	3,536	3,448	3,162	3,178	2,556
Total Liabilities	2,038	2,043	2,063	1,940	1,962	1,535
Total Current Liabilities	388	467	493	409	439	364
Short-Term Debt	11	11	11	12	17	21
Accounts Payable	184	273	265	208	237	195
Accrued Expenses	162	152	148	162	170	141
Current Deferred & Payable Income Tax Liabilities	0.41	4.59	46	14	11	2.10
Other Current Liabilities	31	26	23	13	5.36	5.17
Total Noncurrent Liabilities	1,650	1,576	1,570	1,531	1,523	1,171
Long-Term Debt	1,253	1,255	1,257	1,262	1,275	945
Capital Lease Obligations	115	90	80	38	14	-
Noncurrent Deferred & Payable Income Tax Liabilities	193	155	156	159	165	172
Other Noncurrent Operating Liabilities	88	76	77	72	69	54
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	95	98	104	122	160	206
Total Equity & Noncontrolling Interests	1,469	1,394	1,281	1,100	1,056	815
Total Preferred & Common Equity	1,451	1,376	1,263	1,079	1,038	799
Total Common Equity	1,451	1,376	1,263	1,079	1,038	799
Common Stock	1,281	1,267	1,253	1,208	1,131	1,020
Retained Earnings	1,428	1,359	1,241	1,008	478	122
Treasury Stock	-1,219	-1,219	-1,199	-1,111	-537	-316
Accumulated Other Comprehensive Income / (Loss)	-38	-31	-32	-27	-34	-27
Noncontrolling Interest	18	18	18	22	17	15

This table displays calculated financial ratios and metrics derived from Advanced Drainage Systems' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/31/2020	3/31/2019	3/31/2018	3/31/2017	3/31/2016	3/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.40%	10.90%	39.67%	18.46%	20.88%	4.09%	5.81%	-2.59%	9.37%	10.52%
EBITDA Growth	4.43%	56.25%	13.23%	690.07%	-69.18%	20.65%	7.74%	3.92%	64.72%	-20.56%
EBIT Growth	3.90%	74.38%	19.87%	459.05%	-174.41%	41.24%	12.04%	5.84%	220.11%	-50.93%
NOPAT Growth	0.56%	88.79%	17.84%	473.40%	-170.58%	25.82%	58.75%	-16.87%	632.86%	-161.38%
Net Income Growth	0.38%	85.93%	21.64%	217.88%	-335.43%	25.73%	80.44%	17.47%	927.03%	-146.35%
EPS Growth	6.09%	93.02%	21.62%	180.69%	-363.11%	23.23%	98.00%	28.21%	202.63%	-80.95%
Operating Cash Flow Growth	1.43%	157.49%	-39.21%	47.69%	101.87%	10.62%	31.54%	-22.98%	81.96%	2.72%
Free Cash Flow Firm Growth	11.53%	1,745.01%	-109.26%	130.14%	-1,104.19%	97.43%	716.48%	-90.61%	340.05%	96.01%
Invested Capital Growth	1.41%	4.02%	19.07%	-3.51%	122.40%	-1.02%	3.00%	5.60%	-1.46%	2.42%
Revenue Q/Q Growth	0.00%	0.27%	11.90%	3.82%	6.26%	1.62%	0.45%	-0.10%	3.06%	2.18%
EBITDA Q/Q Growth	0.00%	3.81%	5.72%	3.75%	88.39%	6.61%	12.37%	39.22%	160.17%	216.97%
EBIT Q/Q Growth	0.00%	5.40%	7.86%	9.47%	-2.23%	10.91%	23.85%	-20.48%	60.42%	28.38%
NOPAT Q/Q Growth	0.00%	9.60%	3.87%	4.86%	0.06%	6.14%	18.03%	-15.16%	22.21%	-165.35%
Net Income Q/Q Growth	0.00%	8.21%	6.85%	8.26%	0.85%	9.03%	25.58%	-16.25%	82.57%	-562.58%
EPS Q/Q Growth	0.00%	6.11%	6.78%	-9.12%	12.53%	8.93%	28.57%	-18.03%	129.41%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	-9.41%	39.33%	-1.40%	2.07%	3.72%	8.38%	-58.63%	81.96%	2.72%
Free Cash Flow Firm Q/Q Growth	0.00%	-4.74%	17.15%	-13.25%	1.34%	10.30%	1,702.56%	-87.05%	61.65%	0.00%
Invested Capital Q/Q Growth	0.00%	6.13%	2.49%	2.66%	-0.86%	-0.15%	0.37%	5.54%	0.85%	3.01%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.87%	36.42%	28.90%	34.80%	18.91%	23.61%	22.74%	23.53%	22.11%	17.38%
EBITDA Margin	31.75%	28.45%	20.19%	24.91%	3.73%	14.65%	12.64%	12.41%	11.64%	7.73%
Operating Margin	25.47%	23.42%	14.87%	17.38%	-5.70%	9.35%	6.63%	6.07%	7.31%	3.28%
EBIT Margin	26.29%	23.68%	15.06%	17.55%	-5.79%	9.40%	6.93%	6.55%	6.02%	2.06%
Profit (Net Income) Margin	17.86%	16.65%	9.93%	11.40%	-11.46%	5.88%	4.87%	2.86%	2.37%	-0.31%
Tax Burden Percent	76.98%	77.82%	71.71%	72.40%	106.78%	72.99%	84.21%	55.39%	51.55%	-75.08%
Interest Burden Percent	88.24%	90.35%	91.96%	89.75%	185.35%	85.70%	83.45%	78.78%	76.26%	20.27%
Effective Tax Rate	23.85%	22.92%	28.70%	27.66%	0.00%	26.92%	14.83%	37.97%	39.63%	127.65%
Return on Invested Capital (ROIC)	26.44%	27.00%	15.86%	14.48%	-5.26%	11.94%	9.58%	6.29%	7.73%	-1.46%
ROIC Less NNEP Spread (ROIC-NNEP)	21.88%	22.70%	13.43%	11.58%	-25.19%	7.91%	6.94%	3.57%	1.69%	0.01%
Return on Net Nonoperating Assets (RNNOA)	18.68%	21.70%	9.51%	9.99%	-24.59%	5.49%	6.94%	4.51%	2.47%	0.02%
Return on Equity (ROE)	45.11%	48.70%	25.37%	24.47%	-29.85%	17.44%	16.52%	10.80%	10.20%	-1.44%
Cash Return on Invested Capital (CROIC)	25.04%	23.05%	-1.55%	18.05%	-81.19%	12.97%	6.63%	0.85%	9.20%	-3.85%
Operating Return on Assets (OROA)	24.49%	26.20%	16.47%	14.55%	-5.68%	12.49%	8.83%	7.90%	7.49%	2.40%
Return on Assets (ROA)	16.64%	18.42%	10.86%	9.45%	-11.24%	7.81%	6.20%	3.45%	2.95%	-0.36%
Return on Common Equity (ROCE)	39.20%	39.83%	20.04%	17.82%	-21.13%	12.91%	11.17%	6.67%	5.92%	0.76%
Return on Equity Simple (ROE_SIMPLE)	44.51%	62.05%	30.80%	27.58%	-36.48%	21.20%	21.06%	16.12%	16.31%	-2.30%
Net Operating Profit after Tax (NOPAT)	558	554	294	249	-67	95	75	47	57	-11
NOPAT Margin	19.40%	18.05%	10.61%	12.57%	-3.99%	6.83%	5.65%	3.77%	4.41%	-0.91%
Net Nonoperating Expense Percent (NNEP)	4.56%	4.30%	2.43%	2.90%	19.93%	4.04%	2.64%	2.72%	6.03%	-1.47%
Cost of Revenue to Revenue	60.13%	63.58%	71.10%	65.20%	81.09%	76.39%	77.26%	76.47%	77.89%	82.62%
SG&A Expenses to Revenue	12.90%	11.05%	11.59%	13.49%	20.88%	13.43%	7.40%	8.82%	7.17%	6.43%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.40%	13.00%	14.03%	17.43%	24.60%	14.27%	16.10%	17.46%	14.80%	14.11%
Earnings before Interest and Taxes (EBIT)	756	727	417	348	-97	130	92	82	78	24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	913	874	559	494	63	203	168	156	150	91
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.58	8.26	9.47	8.82	3.78	3.60	4.39	4.96	5.48	8.92
Price to Tangible Book Value (P/TBV)	72.80	0.00	0.00	0.00	0.00	5.66	8.43	15.69	38.48	360.17
Price to Revenue (P/Rev)	4.65	2.22	3.05	3.65	1.19	1.00	1.02	0.88	0.80	1.21
Price to Earnings (P/E)	26.19	13.42	31.18	32.23	0.00	17.79	21.78	33.52	41.01	0.00
Dividend Yield	0.33%	0.57%	0.37%	0.35%	1.25%	1.32%	1.17%	1.20%	1.04%	0.30%
Earnings Yield	3.82%	7.45%	3.21%	3.10%	0.00%	5.62%	4.59%	2.98%	2.44%	0.00%
Enterprise Value to Invested Capital (EV/IC)	6.75	3.86	4.76	4.79	1.83	2.27	2.31	2.14	2.15	2.71
Enterprise Value to Revenue (EV/Rev)	4.98	2.63	3.46	4.08	1.92	1.29	1.38	1.32	1.22	1.71
Enterprise Value to EBITDA (EV/EBITDA)	15.70	9.24	17.13	16.40	51.39	8.81	10.94	10.60	10.47	22.10
Enterprise Value to EBIT (EV/EBIT)	18.96	11.10	22.97	23.28	0.00	13.72	19.95	20.11	20.21	82.94
Enterprise Value to NOPAT (EV/NOPAT)	25.70	14.56	32.62	32.50	0.00	18.90	24.47	34.95	27.60	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	19.96	11.41	34.85	17.91	10.49	11.78	13.41	15.87	11.61	27.09
Enterprise Value to Free Cash Flow (EV/FCFF)	27.13	17.05	0.00	26.06	0.00	17.41	35.36	259.76	23.18	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.04	1.32	0.84	0.77	1.46	0.59	0.88	1.22	1.35	1.62
Long-Term Debt to Equity	1.03	1.31	0.82	0.77	1.45	0.54	0.76	1.05	1.17	1.53
Financial Leverage	0.85	0.96	0.71	0.86	0.98	0.69	1.00	1.26	1.46	1.86
Leverage Ratio	2.71	2.64	2.34	2.59	2.65	2.23	2.66	3.13	3.46	3.95
Compound Leverage Factor	2.39	2.39	2.15	2.32	4.92	1.91	2.22	2.47	2.64	0.80
Debt to Total Capital	51.00%	56.96%	45.65%	43.60%	59.27%	37.16%	46.68%	55.03%	57.44%	61.79%
Short-Term Debt to Total Capital	0.45%	0.64%	0.96%	0.37%	0.41%	3.25%	6.01%	7.60%	7.46%	3.39%
Long-Term Debt to Total Capital	50.55%	56.32%	44.69%	43.23%	58.86%	33.91%	40.67%	47.43%	49.98%	58.40%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	4.87%	7.39%	10.43%	12.92%	13.44%	14.60%	15.51%	16.39%	17.17%	16.67%
Common Equity to Total Capital	44.12%	35.66%	43.92%	43.48%	27.29%	48.24%	37.81%	28.58%	25.39%	21.54%
Debt to EBITDA	1.46	1.51	1.66	1.66	18.27	1.46	2.26	2.75	2.82	5.06
Net Debt to EBITDA	0.92	1.26	1.62	1.27	15.48	1.42	2.15	2.71	2.78	5.02
Long-Term Debt to EBITDA	1.45	1.49	1.62	1.65	18.14	1.33	1.97	2.37	2.46	4.78
Debt to NOPAT	2.39	2.37	3.16	3.30	-17.11	3.13	5.05	9.06	7.45	-43.14
Net Debt to NOPAT	1.51	1.98	3.09	2.52	-14.50	3.04	4.82	8.92	7.33	-42.81
Long-Term Debt to NOPAT	2.37	2.35	3.09	3.27	-16.99	2.86	4.40	7.81	6.48	-40.78
Altman Z-Score	6.46	4.59	5.15	4.68	1.38	3.60	3.12	2.51	2.42	2.47
Noncontrolling Interest Sharing Ratio	13.10%	18.23%	21.01%	27.19%	29.19%	25.95%	32.38%	38.29%	41.91%	153.09%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.96	2.69	2.23	2.33	2.80	2.26	2.07	1.72	1.74	2.06
Quick Ratio	1.85	1.38	0.92	1.35	1.57	0.95	0.86	0.69	0.77	0.73
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	528	473	-29	311	-1,031	103	52	6.37	68	-28
Operating Cash Flow to CapEx	390.58%	424.06%	184.39%	574.19%	452.43%	349.39%	328.75%	203.21%	301.15%	231.85%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.93	1.11	1.09	0.83	0.98	1.33	1.27	1.21	1.24	1.16
Accounts Receivable Turnover	9.12	9.47	9.58	9.09	8.65	7.72	7.80	7.07	7.57	7.80
Inventory Turnover	3.72	4.08	4.95	4.43	4.96	4.00	3.94	3.93	4.09	3.75
Fixed Asset Turnover	3.57	4.54	0.00	0.00	3.80	3.47	3.30	3.15	3.36	3.25
Accounts Payable Turnover	7.44	8.98	9.94	9.31	13.55	10.63	9.04	7.96	8.69	8.75
Days Sales Outstanding (DSO)	40.03	38.55	38.09	40.15	42.20	47.31	46.77	51.65	48.24	46.79
Days Inventory Outstanding (DIO)	98.00	89.56	73.71	82.36	73.54	91.15	92.72	92.80	89.14	97.42
Days Payable Outstanding (DPO)	49.04	40.66	36.71	39.22	26.93	34.35	40.38	45.85	42.02	41.72
Cash Conversion Cycle (CCC)	88.99	87.45	75.09	83.29	88.81	104.11	99.10	98.61	95.35	102.49
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,124	2,094	2,013	1,691	1,752	788	796	773	732	743
Invested Capital Turnover	1.36	1.50	1.50	1.15	1.32	1.75	1.70	1.67	1.75	1.61
Increase / (Decrease) in Invested Capital	30	81	322	-62	964	-8.11	23	41	-11	18
Enterprise Value (EV)	14,327	8,074	9,580	8,099	3,212	1,787	1,839	1,655	1,572	2,015
Market Capitalization	13,356	6,804	8,460	7,228	1,986	1,384	1,351	1,105	1,027	1,433
Book Value per Share	$14.86	$10.15	$12.42	$11.57	$7.64	$6.71	$5.47	$4.04	$3.52	$3.02
Tangible Book Value per Share	$2.36	($2.51)	($2.07)	($3.69)	($9.12)	$4.27	$2.85	$1.28	$0.50	$0.07
Total Capital	2,614	2,311	2,033	1,886	1,926	797	814	779	738	746
Total Debt	1,333	1,316	928	822	1,142	296	380	429	424	461
Total Long-Term Debt	1,321	1,302	909	815	1,134	270	331	370	369	436
Net Debt	843	1,099	908	627	968	287	362	422	418	458
Capital Expenditures (CapEx)	184	167	149	79	68	43	42	51	45	32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	382	436	480	237	262	277	268	238	236	251
Debt-free Net Working Capital (DFNWC)	872	653	500	432	436	286	286	244	242	254
Net Working Capital (NWC)	860	639	481	425	428	260	237	185	187	229
Net Nonoperating Expense (NNE)	44	43	19	23	125	13	10	11	26	-6.99
Net Nonoperating Obligations (NNO)	843	1,099	908	627	968	287	362	422	418	458
Total Depreciation and Amortization (D&A)	157	147	142	146	159	73	76	74	72	67
Debt-free, Cash-free Net Working Capital to Revenue	13.29%	14.21%	17.33%	11.94%	15.64%	20.02%	20.18%	18.90%	18.28%	21.24%
Debt-free Net Working Capital to Revenue	30.34%	21.28%	18.06%	21.77%	26.05%	20.67%	21.50%	19.41%	18.79%	21.55%
Net Working Capital to Revenue	29.93%	20.80%	17.36%	21.42%	25.57%	18.79%	17.83%	14.70%	14.52%	19.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$6.52	$6.16	$3.22	$2.64	($3.21)	$1.23	$1.00	$0.51	$0.28	($0.06)
Adjusted Weighted Average Basic Shares Outstanding	78.25M	82.32M	71.28M	70.16M	63.82M	57.03M	55.70M	54.92M	53.98M	51.34M
Adjusted Diluted Earnings per Share	$6.45	$6.08	$3.15	$2.59	($3.21)	$1.22	$0.99	$0.50	$0.27	($0.06)
Adjusted Weighted Average Diluted Shares Outstanding	79.02M	83.34M	72.91M	71.57M	63.82M	57.61M	56.33M	55.62M	55.05M	51.34M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	77.43M	78.97M	84.35M	71.59M	69.34M	57.52M	56.56M	55.34M	53.50M	51.80M
Normalized Net Operating Profit after Tax (NOPAT)	551	558	296	252	-63	97	88	53	57	27
Normalized NOPAT Margin	19.17%	18.16%	10.69%	12.73%	-3.76%	7.02%	6.61%	4.19%	4.45%	2.31%
Pre Tax Income Margin	23.20%	21.40%	13.85%	15.75%	-10.73%	8.06%	5.78%	5.16%	4.59%	0.42%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	9.30%	8.79%	14.00%	14.22%	-48.03%	32.10%	28.52%	46.84%	53.13%	-212.91%
Augmented Payout Ratio	49.69%	121.24%	120.17%	14.22%	-48.03%	42.92%	40.78%	46.84%	53.13%	-212.99%

This table displays calculated financial ratios and metrics derived from Advanced Drainage Systems' official financial filings.

Metric	Q3 2025	Q2 2025	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	12/31/2023	9/30/2023	6/30/2024	3/31/2023	12/31/2023	9/30/2022	6/30/2023	3/31/2022	12/31/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.25%	0.31%	0.00%	-11.76%	4.79%	1.10%	1.10%	25.16%	16.25%	66.37%	34.77%
EBITDA Growth	-8.48%	-13.72%	-1.54%	-4.94%	-4.12%	35.89%	22.10%	72.56%	96.36%	41.02%	37.45%
EBIT Growth	-16.69%	-5.45%	0.00%	-5.36%	-6.29%	56.59%	22.88%	95.04%	123.76%	85.85%	54.72%
NOPAT Growth	-20.15%	-2.89%	0.00%	-11.35%	-7.20%	127.49%	26.03%	100.77%	128.77%	50.60%	56.49%
Net Income Growth	-23.01%	-4.27%	0.00%	-10.66%	-6.66%	100.97%	28.49%	100.99%	125.49%	84.87%	53.92%
EPS Growth	-22.39%	-2.34%	0.00%	-5.00%	-5.50%	85.37%	35.35%	104.55%	150.57%	95.24%	59.68%
Operating Cash Flow Growth	-21.32%	0.00%	-8.30%	42.67%	-24.82%	-41.55%	165.98%	2,138.62%	133.80%	2,255.84%	-39.14%
Free Cash Flow Firm Growth	-212.75%	-194.67%	1,795.78%	6,014.26%	-205.66%	100.92%	149.52%	61.62%	2,559.46%	-432.27%	-223.10%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	0.00%	4.02%	0.45%	10.91%	0.00%	19.07%	19.28%
Revenue Q/Q Growth	-11.76%	0.00%	-15.11%	-4.31%	9.22%	12.70%	-25.09%	13.64%	5.37%	12.70%	-7.26%
EBITDA Q/Q Growth	-12.72%	0.00%	-17.71%	-13.10%	94.49%	-29.21%	-20.55%	-12.35%	175.65%	-36.39%	12.29%
EBIT Q/Q Growth	-32.25%	0.00%	-23.11%	-11.91%	126.42%	-34.79%	-27.24%	-12.78%	278.36%	-48.83%	15.49%
NOPAT Q/Q Growth	-33.23%	0.00%	-18.79%	-14.93%	106.36%	-29.85%	-28.01%	-10.95%	405.85%	-61.14%	14.69%
Net Income Q/Q Growth	-37.27%	0.00%	-22.00%	-15.58%	110.29%	-27.78%	-30.32%	-11.80%	352.77%	-53.83%	9.00%
EPS Q/Q Growth	-37.72%	0.00%	-21.64%	-16.99%	171.05%	-43.28%	-25.56%	-17.43%	431.71%	-58.59%	12.50%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-12.36%	50.16%	287.20%	-82.00%	36.35%	-20.87%	201.04%	-18.11%	1,145.08%
Free Cash Flow Firm Q/Q Growth	-12.70%	0.00%	-5.37%	209.52%	-76,815.31%	-97.62%	395.22%	-101.96%	768.80%	-28.19%	-128.78%
Invested Capital Q/Q Growth	9.77%	0.00%	0.00%	-100.00%	4.65%	6.13%	-4.41%	0.00%	-100.00%	2.49%	5.54%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.99%	37.56%	39.23%	38.79%	40.78%	27.75%	39.23%	36.19%	42.60%	23.74%	34.18%
EBITDA Margin	26.06%	26.34%	29.68%	30.62%	33.72%	18.94%	30.15%	28.43%	36.86%	14.09%	24.96%
Operating Margin	18.37%	23.94%	23.14%	25.38%	27.75%	13.80%	23.14%	24.61%	31.55%	9.02%	19.00%
EBIT Margin	19.07%	24.83%	23.86%	26.34%	28.62%	13.81%	23.86%	24.56%	32.00%	8.91%	19.63%
Profit (Net Income) Margin	11.92%	16.76%	16.14%	17.56%	19.91%	10.34%	16.14%	17.35%	22.35%	5.20%	12.70%
Tax Burden Percent	75.80%	76.63%	78.76%	74.63%	77.11%	81.10%	78.76%	77.10%	76.51%	55.99%	76.59%
Interest Burden Percent	82.46%	88.08%	85.87%	89.33%	90.22%	92.36%	85.87%	91.59%	91.28%	104.25%	84.45%
Effective Tax Rate	24.95%	23.91%	22.20%	25.86%	23.70%	18.80%	22.20%	23.88%	24.22%	44.80%	24.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	60.05%	16.76%	28.01%	29.16%	0.00%	7.45%	19.79%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	57.50%	16.11%	26.55%	27.79%	0.00%	7.66%	18.33%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	33.50%	15.40%	20.07%	23.01%	0.00%	5.42%	14.00%
Return on Equity (ROE)	0.00%	0.00%	0.00%	0.00%	93.55%	32.16%	48.08%	52.17%	0.00%	12.87%	33.79%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	-150.62%	23.05%	25.25%	14.18%	0.00%	-1.55%	-1.92%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	25.80%	15.28%	25.56%	26.41%	0.00%	9.75%	19.84%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	17.95%	11.44%	17.29%	18.65%	0.00%	5.69%	12.83%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	0.00%	85.33%	26.30%	40.26%	42.13%	0.00%	10.17%	25.94%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	39.57%	0.00%	43.81%	43.23%	0.00%	0.00%	32.20%
Net Operating Profit after Tax (NOPAT)	95	143	119	147	173	84	119	166	186	37	95
NOPAT Margin	13.79%	18.22%	18.00%	18.82%	21.17%	11.20%	18.00%	18.73%	23.91%	4.98%	14.44%
Net Nonoperating Expense Percent (NNEP)	2.90%	3.07%	0.00%	0.00%	2.55%	0.64%	1.46%	1.38%	0.00%	-0.21%	1.46%
Return On Investment Capital (ROIC_SIMPLE)	3.34%	-	-	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	65.01%	62.44%	60.77%	61.21%	59.22%	72.25%	60.77%	63.81%	57.40%	76.26%	65.82%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.61%	13.62%	16.09%	13.41%	13.03%	13.95%	16.09%	11.58%	11.05%	14.72%	15.18%
Earnings before Interest and Taxes (EBIT)	132	194	158	206	233	103	158	217	249	66	129
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	180	206	197	239	275	141	200	251	287	104	164
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.18	8.85	0.00	0.00	9.83	8.26	10.14	10.02	0.00	9.47	8.44
Price to Tangible Book Value (P/TBV)	33.44	28.31	0.00	0.00	40.67	0.00	114.49	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	3.63	2.97	4.00	2.22	3.57	3.41	3.11	3.05	2.73
Price to Earnings (P/E)	0.00	0.00	22.80	18.64	25.10	13.42	23.31	23.35	24.25	31.18	26.65
Dividend Yield	0.54%	0.38%	0.39%	0.46%	0.36%	0.57%	0.38%	0.37%	0.44%	0.37%	0.58%
Earnings Yield	0.00%	0.00%	4.39%	5.36%	3.98%	7.45%	4.29%	4.28%	4.12%	3.21%	3.75%
Enterprise Value to Invested Capital (EV/IC)	4.06	5.83	0.00	0.00	6.09	3.86	6.00	5.54	0.00	4.76	4.03
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	4.29	2.63	3.86	3.74	0.00	3.46	3.20
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	15.48	9.24	14.06	14.19	0.00	17.13	14.95
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	18.76	11.10	17.15	17.31	0.00	22.97	20.46
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	24.67	14.56	23.39	23.75	0.00	32.62	27.98
Enterprise Value to Operating Cash Flow (EV/OCF)	17.86	21.40	0.00	0.00	20.62	11.41	15.14	18.53	0.00	34.85	40.10
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	17.05	23.81	41.07	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.88	0.91	0.00	0.00	0.97	1.32	1.07	1.07	0.00	0.84	0.95
Long-Term Debt to Equity	0.87	0.90	0.00	0.00	0.97	1.31	1.06	1.06	0.00	0.82	0.93
Financial Leverage	0.57	0.50	0.00	0.00	0.58	0.96	0.76	0.83	0.00	0.71	0.76
Leverage Ratio	2.30	2.37	0.00	0.00	2.49	2.64	2.55	2.65	0.00	2.34	2.39
Compound Leverage Factor	1.90	2.09	0.00	0.00	2.25	2.44	2.19	2.42	0.00	2.43	2.02
Debt to Total Capital	46.85%	47.62%	0.00%	0.00%	49.33%	56.96%	51.78%	51.79%	0.00%	45.65%	48.63%
Short-Term Debt to Total Capital	0.36%	0.39%	0.00%	0.00%	0.42%	0.64%	0.48%	0.66%	0.00%	0.96%	1.05%
Long-Term Debt to Total Capital	46.48%	47.23%	0.00%	0.00%	48.91%	56.32%	51.29%	51.12%	0.00%	44.69%	47.58%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	3.85%	4.07%	0.00%	0.00%	4.45%	7.39%	5.66%	7.03%	0.00%	10.43%	11.13%
Common Equity to Total Capital	49.30%	48.32%	0.00%	0.00%	46.21%	35.66%	42.57%	41.18%	0.00%	43.92%	40.24%
Debt to EBITDA	0.00	0.00	0.00	0.00	1.56	1.51	1.56	1.62	0.00	1.66	1.83
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.94	1.26	0.89	1.05	0.00	1.62	1.78
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	1.55	1.49	1.54	1.60	0.00	1.62	1.79
Debt to NOPAT	0.00	0.00	0.00	0.00	2.49	2.37	2.59	2.71	0.00	3.16	3.42
Net Debt to NOPAT	0.00	0.00	0.00	0.00	1.49	1.98	1.48	1.76	0.00	3.09	3.34
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	2.47	2.35	2.57	2.68	0.00	3.09	3.34
Altman Z-Score	0.00	0.00	0.00	0.00	5.57	3.88	5.28	4.92	0.00	4.71	4.05
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	8.79%	18.23%	16.25%	19.26%	0.00%	21.01%	23.24%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.21	3.19	0.00	0.00	2.89	2.69	3.03	3.07	0.00	2.23	2.22
Quick Ratio	1.90	2.08	0.00	0.00	1.85	1.38	1.96	1.92	0.00	0.92	0.89
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2,359	-2,093	2,092	2,211	-2,019	2.63	110	-37	1,911	-286	-223
Operating Cash Flow to CapEx	350.26%	0.00%	449.03%	5,585.84%	317.81%	118.27%	644.23%	361.22%	1,103.97%	166.35%	270.38%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.90	1.11	1.07	1.08	0.00	1.09	1.01
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	8.42	9.47	11.26	8.16	0.00	9.58	10.06
Inventory Turnover	0.00	0.00	0.00	0.00	4.08	4.08	4.54	4.43	0.00	4.95	4.89
Fixed Asset Turnover	0.00	0.00	0.00	0.00	3.35	4.54	4.37	5.10	0.00	0.00	4.55
Accounts Payable Turnover	0.00	0.00	0.00	0.00	7.51	8.98	9.80	8.12	0.00	9.94	11.34
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	43.36	38.55	32.41	44.76	0.00	38.09	36.27
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	89.52	89.56	80.42	82.32	0.00	73.71	74.63
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	48.60	40.66	37.25	44.98	0.00	36.71	32.19
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	84.28	87.45	75.58	82.09	0.00	75.09	78.71
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,454	2,236	0.00	0.00	2,192	2,094	1,973	2,064	0.00	2,013	1,964
Invested Capital Turnover	0.00	0.00	0.00	0.00	2.84	1.50	1.56	1.56	0.00	1.50	1.37
Increase / (Decrease) in Invested Capital	2,454	2,236	-1,973	-2,064	2,192	81	8.87	203	-1,725	322	317
Enterprise Value (EV)	9,966	13,043	0.00	0.00	13,347	8,074	11,832	11,433	0.00	9,580	7,911
Market Capitalization	8,963	12,184	10,913	8,922	12,418	6,804	10,938	10,407	8,949	8,460	6,746
Book Value per Share	$18.71	$17.76	$0.00	$0.00	$16.31	$10.15	$13.84	$12.31	$0.00	$12.42	$9.65
Tangible Book Value per Share	$3.46	$5.55	$0.00	$0.00	$3.94	($2.51)	$1.23	($0.19)	$0.00	($2.07)	($3.13)
Total Capital	2,943	2,849	0.00	0.00	2,733	2,311	2,534	2,522	0.00	2,033	1,986
Total Debt	1,379	1,357	0.00	0.00	1,348	1,316	1,312	1,306	0.00	928	966
Total Long-Term Debt	1,368	1,345	0.00	0.00	1,337	1,302	1,300	1,289	0.00	909	945
Net Debt	890	744	0.00	0.00	807	1,099	751	849	0.00	908	944
Capital Expenditures (CapEx)	54	0.00	54	4.93	58	40	41	53	22	49	37
Debt-free, Cash-free Net Working Capital (DFCFNWC)	379	423	0.00	0.00	401	436	281	468	0.00	480	442
Debt-free Net Working Capital (DFNWC)	868	1,036	0.00	0.00	943	653	842	925	0.00	500	464
Net Working Capital (NWC)	857	1,025	0.00	0.00	931	639	829	909	0.00	481	443
Net Nonoperating Expense (NNE)	13	11	12	9.80	10	6.45	12	12	12	-1.64	11
Net Nonoperating Obligations (NNO)	890	744	0.00	0.00	807	1,099	751	849	0.00	908	944
Total Depreciation and Amortization (D&A)	48	12	39	33	42	38	42	34	38	38	35
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	12.91%	14.21%	9.17%	15.31%	0.00%	17.33%	17.84%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	30.33%	21.28%	27.48%	30.28%	0.00%	18.06%	18.74%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	29.96%	20.80%	27.07%	29.73%	0.00%	17.36%	17.90%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.05	$1.68	$0.00	$0.00	$2.08	$0.78	$1.36	$1.82	$0.00	$0.43	$0.88
Adjusted Weighted Average Basic Shares Outstanding	77.54M	77.54M	0.00	0.00	77.54M	82.32M	77.86M	83.47M	0.00	71.28M	71.27M
Adjusted Diluted Earnings per Share	$1.04	$1.67	$0.00	$0.00	$2.06	$0.76	$1.34	$1.80	$0.00	$0.41	$0.86
Adjusted Weighted Average Diluted Shares Outstanding	78.12M	78.11M	0.00	0.00	78.28M	83.34M	78.59M	84.50M	0.00	72.91M	72.79M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	77.57M	77.54M	0.00	0.00	77.52M	78.97M	77.62M	82.86M	0.00	84.35M	71.92M
Normalized Net Operating Profit after Tax (NOPAT)	95	143	121	147	173	96	121	166	176	39	94
Normalized NOPAT Margin	13.74%	18.28%	18.30%	18.83%	21.20%	12.87%	18.30%	18.72%	22.61%	5.33%	14.40%
Pre Tax Income Margin	15.72%	21.87%	20.49%	23.53%	25.82%	12.75%	20.49%	22.50%	29.21%	9.29%	16.58%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	9.30%	9.32%	9.26%	8.79%	8.95%	8.99%	10.54%	14.00%	14.35%
Augmented Payout Ratio	0.00%	0.00%	128.25%	109.44%	124.61%	121.24%	46.66%	51.90%	74.48%	120.17%	14.35%

Frequently Asked Questions About Advanced Drainage Systems' Financials

When does Advanced Drainage Systems's financial year end?

According to the most recent income statement we have on file, Advanced Drainage Systems' fiscal year ends in March. Their fiscal year 2024 ended on March 31, 2024.

How has Advanced Drainage Systems' net income changed over the last 9 years?

Advanced Drainage Systems' net income appears to be on an upward trend, with a most recent value of $513.29 million in 2024, falling from -$3.70 million in 2015. The previous period was $511.35 million in 2023. See where experts think Advanced Drainage Systems is headed by visiting Advanced Drainage Systems' forecast page.

What is Advanced Drainage Systems's operating income?

Advanced Drainage Systems's total operating income in 2024 was $732.13 million, based on the following breakdown:

Total Gross Profit: $1.15 billion
Total Operating Expenses: $413.82 million

How has Advanced Drainage Systems revenue changed over the last 9 years?

Over the last 9 years, Advanced Drainage Systems' total revenue changed from $1.18 billion in 2015 to $2.87 billion in 2024, a change of 143.6%.

How much debt does Advanced Drainage Systems have?

Advanced Drainage Systems' total liabilities were at $1.99 billion at the end of 2024, a 4.3% increase from 2023, and a 164.0% increase since 2015.

How much cash does Advanced Drainage Systems have?

In the past 9 years, Advanced Drainage Systems' cash and equivalents has ranged from $3.62 million in 2015 to $490.16 million in 2024, and is currently $490.16 million as of their latest financial filing in 2024.

How has Advanced Drainage Systems' book value per share changed over the last 9 years?

Over the last 9 years, Advanced Drainage Systems' book value per share changed from 3.02 in 2015 to 14.86 in 2024, a change of 392.4%.

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This page (NYSE:WMS) was last updated on 5/25/2025 by MarketBeat.com Staff

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Advanced Drainage Systems (WMS) Financials

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