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Advanced Drainage Systems WMS Stormwater — Reallocation due to change in segments

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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 wms:ReallocationDueToChangeInSegments.

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 stormwater — reallocation due to change in segments?
Advanced Drainage Systems (WMS) reported stormwater — reallocation due to change in segments of $30.18M in Q1 2026.
What does stormwater — reallocation due to change in segments mean?
Reflects the financial impact of shifting assets, liabilities, or revenue streams between internal business units due to organizational restructuring. This ensures that financial reporting accurately aligns with the current operational management structure.

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