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Advanced Drainage Systems WMS Infiltrator Segment — Goodwill

Other segment segments

Wastewater
$600.07M
Stormwater
$442.64M
Allied Products And Other Business Segments
$0-100%
International
$0-100%
Pipe Segment
$0-100%

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PVHEMEA Segment — Goodwill
$1.59B
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SLVMEurope Segment — Goodwill
$0-100%

Other financials

Income statement

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Revenue$1.0B+20.6%
Gross profit$408.0M+23.5%
Operating income$254.5M+23.7%
Net income$168.5M+17.1%
EPS (diluted)$2.19+19.0%

Balance sheet

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Cash & equivalents$162.4M-74.8%
Total debt$1.8B+23.5%
Total equity$1.8B+7.2%
Total assets$4.5B+15.3%

Cash flow

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Operating cash flow$260.4M-5.3%
CapEx$57.2M+8.7%
Free cash flow$203.2M-8.6%

Valuation

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Market cap$11.47B+29.6%
Enterprise value$13.07B+35.7%
P/E25.4×+5.0×
P/S3.6×+0.5×

Profitability

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Gross margin38.6%+1.2pp
Operating margin20.7%-1.1pp
Net margin14%-0.8pp
FCF margin17.5%+1.4pp

Returns & leverage

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Return on equity26.1%-3.4pp
Debt / equity+0.1×
Current ratio2.1×-1.1×

Where this comes from

Reported directly by Advanced Drainage Systems in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The source filing: Advanced Drainage Systems’s 10-K, filed May 21, 2026.

Filed
May 21, 2026, 4:06 PM EDT
Fiscal year
FY2025
Accession
0001604028-26-000019
(Amounts in thousands)As Previously Reported / PipeAs Previously Reported / InfiltratorAs Previously Reported / InternationalAs Previously Reported / Allied Products& OtherStormwaterWastewaterTotal
Balance at March 31, 2024$65,766$495,841$10,441$45,135$617,183
Acquisition103,676103,676
Currency translation(636)(636)
Balance at March 31, 202565,766599,5179,80545,135720,223
Reallocation due to change in segments(65,766)(599,517)(9,805)(45,135)120,706599,517
Acquisitions321,612555322,167
Currency translation326326
Balance at March 31, 2026$442,644$600,072$1,042,716

Item 16. Form 10-K Summary

FAQ

What is Advanced Drainage Systems's infiltrator segment — goodwill?
Advanced Drainage Systems (WMS) reported infiltrator segment — goodwill of $0 in Q1 2026.
How has Advanced Drainage Systems's infiltrator segment — goodwill changed year-over-year?
Advanced Drainage Systems's infiltrator segment — goodwill decreased by 100.0% year-over-year, from $599.52M to $0.
What does infiltrator segment — goodwill mean?
Represents the carrying value of goodwill specifically allocated to the Infiltrator business segment. This asset arises when the purchase price of an acquired business exceeds the fair value of its identifiable net assets, reflecting the premium paid for brand reputation, customer relationships, and proprietary technology within the onsite septic and water management product line.

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