14 years of revenue, profit, cash flow and balance-sheet history through FY2026,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 9.0% per year over the past 5 years.
Net income has grown faster than revenue (13.9% vs 9.0% per year).
Operating margin has expanded, at 20.3% in the latest year.
Free cash flow has grown 8.8% per year over the past 5 years.
Financial health
Total debt ($1.6B) exceeds cash ($223M); net debt is $1.4B.
Total debt has grown faster than revenue (15.6% vs 9.0% per year).
Total debt is 2.0× EBITDA.
Shareholder returns
Dividends have been paid for 7 consecutive years, consuming 13.1% of earnings and 9.9% of free cash flow.
The dividend has grown 12.8% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2026
$3.1B
$429M
38.3%
20.3%
$569M
$1.6B
$223M
2025
$2.9B
$453M
37.7%
22.6%
$369M
$1.3B
$463M
2024
$2.9B
$513M
39.9%
25.5%
$534M
$1.3B
$490M
2023
$3.1B
$511M
36.4%
23.4%
$541M
$1.3B
$217M
2022
$2.8B
$275M
28.9%
14.9%
$126M
$930M
$20M
2021
$2.0B
$224M
34.8%
17.4%
$373M
$791M
$195M
2020
$1.7B
-$193M
18.9%
-5.7%
$239M
$1.1B
$174M
2019
$1.4B
$78M
23.6%
9.3%
$108M
$237M
$9M
2018
$1.3B
$62M
22.7%
6.6%
$95M
$301M
$18M
2017
$1.3B
$62M
23.5%
6.1%
$58M
$350M
$6M
2016
—
$25M
—
—
—
$351M
$7M
2015
—
-$8M
—
—
$42M
$400M
$4M
2014
—
$4M
—
—
$31M
$454M
$4M
2013
—
$21M
—
—
$37M
—
$1M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Dec '25
$693M
$94M
37.4%
19.7%
$184M
$1.3B
$1.0B
Sep '25
$850M
$156M
40.0%
26.3%
$176M
$1.3B
$813M
Jun '25
$830M
$144M
39.8%
24.8%
$222M
$1.3B
$638M
Mar '25
$616M
$77M
36.7%
19.0%
-$5M
$1.3B
$463M
Dec '24
$691M
$81M
35.0%
18.4%
$136M
$1.3B
$489M
Sep '24
$783M
$130M
37.6%
23.9%
$112M
$1.3B
$613M
Jun '24
$815M
$161M
40.8%
27.7%
$126M
$1.3B
$542M
Mar '24
$654M
$95M
38.5%
20.7%
-$30M
$1.3B
$490M
Dec '23
$662M
$106M
39.2%
23.1%
$188M
$1.3B
$561M
Sep '23
$780M
$136M
38.8%
25.4%
$174M
$1.3B
$470M
Jun '23
$778M
$174M
42.6%
31.5%
$202M
$1.3B
$366M
Mar '23
$618M
$86M
36.0%
20.3%
$7M
$1.3B
$217M
Dec '22
$655M
$82M
34.2%
19.0%
$172M
$1.3B
$427M
Sep '22
$884M
$152M
36.2%
24.6%
$148M
$1.3B
$457M
Jun '22
$914M
$187M
38.5%
27.5%
$214M
$1.3B
$464M
Mar '22
$678M
$46M
28.0%
11.9%
$32M
$930M
$20M
Dec '21
$715M
$74M
29.2%
15.4%
$62M
$953M
$22M
Sep '21
$706M
$75M
28.3%
15.8%
-$48M
$909M
$14M
Jun '21
$669M
$76M
30.0%
16.3%
$79M
$788M
$143M
Mar '21
$444M
$20M
28.7%
7.4%
-$18M
$791M
$195M
Valuation over time
How the market has priced WMS against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 12.6× (Mar '23) to 27.7× (Jun '26).
The price-to-sales ratio has risen from 2.1× (Mar '23) to 3.9× (Jun '26).
The dividend yield has fallen from 0.6% (Mar '23) to 0.5% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is WMS growing its revenue and profit?
Over the past 5 years, Advanced Drainage Systems, Inc.'s revenue has grown 9.0% per year, and net income grown 13.9% per year. These are computed facts, not advice.
How much debt does WMS have?
As of FY2026, Advanced Drainage Systems, Inc. reported $1.6B of total debt against $223M of cash.
What is WMS's profit margin?
In FY2026, gross margin was 38.3%, operating margin 20.3%, and net margin 14.1%.
What is WMS's P/E ratio?
As of Jun '26, Advanced Drainage Systems, Inc. traded at a price-to-earnings ratio of about 27.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.