Advanced Drainage Systems (WMS) Financials

$115.76 +2.15 (+1.89%)

As of 09:37 AM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-20	25	33	62	78	-193	224	271	507	510
Consolidated Net Income / (Loss)	-3.70	31	36	65	81	-192	226	275	511	513
Net Income / (Loss) Continuing Operations	-3.70	31	36	65	81	-192	226	275	511	513
Total Pre-Tax Income	4.92	59	65	77	112	-180	312	384	657	667
Total Operating Income	39	94	76	88	129	-95	345	412	719	732
Total Gross Profit	205	285	296	302	327	316	690	800	1,118	1,146
Total Revenue	1,180	1,291	1,257	1,330	1,385	1,674	1,983	2,769	3,071	2,874
Operating Revenue	1,180	1,291	1,257	1,330	1,385	1,674	1,983	2,769	3,071	2,874
Total Cost of Revenue	975	1,005	961	1,028	1,058	1,357	1,293	1,969	1,953	1,729
Operating Cost of Revenue	975	1,005	961	1,028	1,058	1,357	1,293	1,969	1,953	1,729
Total Operating Expenses	166	191	219	214	198	412	346	388	399	414
Selling, General & Admin Expense	76	93	111	98	186	349	268	321	340	371
Amortization Expense	9.75	9.22	8.55	8.07	7.88	57	74	64	55	51
Other Special Charges / (Income)	0.36	0.81	8.51	15	3.65	5.34	4.28	3.40	4.40	-8.37
Total Other Income / (Expense), net	-34	-35	-11	-11	-18	-84	-32	-28	-62	-65
Interest & Investment Income	-19	-18	-17	-15	-19	-83	-36	-34	-70	-89
Other Income / (Expense), net	-14	-17	5.97	3.95	0.82	-1.55	3.40	5.14	7.97	23
Income Tax Expense	6.28	23	25	11	30	14	86	110	151	159
Other Gains / (Losses), net	-2.34	-5.23	-4.31	-0.74	-0.10	1.91	0.20	1.59	4.84	5.54
Net Income / (Loss) Attributable to Noncontrolling Interest	4.13	5.52	2.96	2.79	3.69	1.38	1.86	3.70	4.27	3.38
Basic Earnings per Share	($0.38)	$0.40	$0.51	$1.00	$1.23	($3.21)	$2.64	$3.22	$6.16	$6.52
Weighted Average Basic Shares Outstanding	51.34M	53.98M	54.92M	55.70M	57.03M	63.82M	70.16M	71.28M	82.32M	78.25M
Diluted Earnings per Share	($0.38)	$0.39	$0.50	$0.99	$1.22	($3.21)	$2.59	$3.15	$6.08	$6.45
Weighted Average Diluted Shares Outstanding	51.34M	55.18M	55.62M	56.33M	57.61M	63.82M	71.57M	72.91M	83.34M	79.02M
Weighted Average Basic & Diluted Shares Outstanding	51.80M	53.50M	64.60M	62M	57.52M	69.34M	71.59M	84.35M	78.97M	77.43M
Cash Dividends to Common per Share	$0.08	$0.20	$0.24	$0.28	$0.32	$1.36	$0.36	$0.44	$0.48	$0.56

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

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

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

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

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

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

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

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

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

Frequently Asked Questions About Advanced Drainage Systems' Financials

When does Advanced Drainage Systems's fiscal year end?

According to the most recent income statement we have on file, Advanced Drainage Systems' financial year ends in March. Their financial 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. View Advanced Drainage Systems' forecast to see where analysts expect Advanced Drainage Systems to go next.

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 5/5/2025 by MarketBeat.com Staff

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Advanced Drainage Systems (WMS) Financials

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Advanced Drainage Systems (WMS) Financials

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