Advanced Drainage Systems, Inc. (WMS) Stock Price & Analysis
Advanced Drainage Systems, Inc. (WMS) closed at USD 130.92 on Thursday, October 22, 2026, up 0.71% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 130; the Oct 22, 2026 session ranged USD 128.23–131.56 on volume of 850,070 shares. Market capitalization is $9.87B, with a 52-week range of USD 122.84–179.32 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 10:37 UTC.
Also available as compact Markdown for AI agents: nexqual.com/WMS.md
Key facts (WMS)
- Last four reported quarters (through Jun 30, 2026): revenue $3.22B, net income $451M (14.0% margin), free cash flow $550M (SEC filings).
- Valuation: P/E 21.9x (avg 23.6x at the last 3 fiscal year-ends), EV/EBITDA 12.6x, net debt $1.45B.
- Analysts: Buy (mean 1.82 on a 1–5 scale) (11 analysts), mean target USD 181.73 (range 145–207).
- Total return with dividends: 1Y -7.3% vs S&P 500 +14.9%; 5Y +24.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 1.79, revenue estimate $930M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (WMS)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.77B | $3.07B | $2.87B | $2.90B | $3.05B | $3.22B |
| Gross profit | $800M | $1.12B | $1.15B | $1.09B | $1.17B | — |
| Operating income | $412M | $719M | $732M | $657M | $619M | $668M |
| Net income | $271M | $507M | $510M | $450M | $426M | $451M |
| EPS (diluted) | $3.15 | $6.08 | $6.45 | $5.76 | $5.44 | — |
| Free cash flow | $126M | $541M | $534M | $369M | $569M | $550M |
| Gross margin | 28.9% | 36.4% | 39.9% | 37.7% | 38.3% | — |
| Operating margin | 14.9% | 23.4% | 25.5% | 22.6% | 20.3% | 20.7% |
| Net margin | 9.8% | 16.5% | 17.7% | 15.5% | 14.0% | 14.0% |
| Revenue growth | +39.7% | +10.9% | -6.4% | +1.0% | +5.0% | — |
| Cash + short-term investments | $20.1M | $217M | $490M | $463M | $223M | — |
| Total debt | $930M | $1.30B | $1.28B | $1.27B | $1.63B | — |
Fiscal years end Mar. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (WMS)
P/E 21.9x · P/S 3.1x · EV/EBITDA 12.6x · EV/Sales 3.5x · P/FCF 17.9x · P/B 5.5x · FCF yield 5.57% · Earnings yield 4.57% · Dividend yield (paid, TTM) 0.58% · Buyback yield (TTM) 3.29% · Net debt $1.45B · EV $11.3B
P/E at fiscal year-ends: Mar 2026 25.2x, Mar 2025 18.9x, Mar 2024 26.7x.
Analysts (WMS)
Consensus Buy (mean 1.82 on a 1–5 scale), 11 analysts; mean target USD 181.73 (low 145, high 207).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | RBC Capital | Target lowered | Outperform | $178 → $170 |
| 2026-10-09 | Oppenheimer | Target lowered | Outperform | $190 → $185 |
| 2026-10-06 | DA Davidson | Maintained | Buy | $190 |
| 2026-09-21 | Stephens & Co. | Reiterated | Overweight | $175 |
| 2026-08-25 | DA Davidson | Initiated | Buy | $190 |
| 2026-08-08 | UBS | Target raised | Buy | $205 → $207 |
| 2026-08-07 | RBC Capital | Target raised | Outperform | $170 → $178 |
| 2026-07-14 | Barclays | Target raised | Overweight | $181 → $191 |
Total return (dividends reinvested) (WMS)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -7.3% | +24.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -7.4% | +4.5% |
| Volatility (annualized) | 36.0% | 41.4% |
| Max drawdown | -28.3% (Feb 2026→Oct 2026) | -47.6% (Aug 2022→Apr 2023) |
WMS revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Stormwater | $820.9M | 82.0% | +24.3% |
| Wastewater | $208.9M | 20.9% | +7.2% |
| Total revenue | $1.00B | 100% | — |
WMS revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Domestic Pipe | $458.1M | 45.8% | +7.9% |
| Domestic Allied Products | $303.4M | 30.3% | +61.8% |
| International | $59.5M | 5.9% | +22.6% |
| Total revenue | $1.00B | 100% | — |
WMS revenue by region (fiscal year ended Mar 31, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $2.86B | 93.7% | +5.5% |
| Canada | $119.3M | 3.9% | -0.2% |
| Other Countries | $73.6M | 2.4% | -2.1% |
| Total revenue | $3.05B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
WMS suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Core & Main, Inc. (CNM) | “Concentrations of Risk - The Company has a large, active customer base of approximately 16,000 customers with two customers, Ferguson and Core & Main, each representing more than 10% of annual net sales.” |
Quoted from the company's 10-K filed May 21, 2026.
WMS customer concentration
In the period ended Mar 31, 2026, a single direct customer accounted for 25.8% of revenue, per the company's 10-K filed May 21, 2026. The company does not name it.
WMS company outlook (results filed Aug 6, 2026)
- “Net sales are expected to be in the range of $3.350 billion to $3.550 billion and Adjusted EBITDA is expected to be in the range of $1.0 billion to $1.050 billion.”
- “Capital expenditures are expected to be approximately $200 million.”
Quoted word-for-word from the SEC 8-K results press release.
WMS analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.79 | $1.87 | -4.4% | $930.4M | 9 |
| Next quarter (ends Dec 2026) | $1.15 | $1.37 | -15.7% | $789.2M | 9 |
| Current fiscal year (ends Mar 2027) | $6.29 | $6.43 | -2.2% | $3.46B | 9 |
| Next fiscal year (ends Mar 2028) | $7.35 | $7.37 | -0.2% | $3.67B | 9 |
Key Statistics (as of October 23, 2026 at 10:37 UTC)
| Price | USD 130.92 |
|---|---|
| Change | ▲ 0.71% (up) |
| Previous Close | USD 130 |
| Open | USD 128.69 |
| Day Range | USD 128.23 – 131.56 |
| 52-Week Range | USD 122.84 – 179.32 |
| Volume | 850,070 shares |
| Market Cap | $9.87B |
| Exchange | NYQ |
Technical Analysis (WMS)
Nexqual's technical model rates WMS "SELL" based on 2 bullish and 4 bearish signals across 127 daily candles, as of October 23, 2026 at 10:37 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 52.67 (neutral) |
| vs SMA50 | Below (USD 132.51) |
| MACD | -0.58 (negative) |
Analyst Ratings (WMS)
Wall Street analysts rate WMS "Buy" based on 11 analysts, with a mean price target of USD 181.73 (range USD 145–207), per Nexqual as of October 23, 2026 at 10:37 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 11 |
| Mean Target | USD 181.73 |
| High Target | USD 207 |
| Low Target | USD 145 |
| Buy / Hold / Sell | 11 / 0 / 0 |
Earnings (WMS)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 1.79 |
| Revenue Estimate | $930.38M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 2.49 vs est 2.12 ▲ beat |
| 2026-03-31 | USD 1.07 vs est 0.97 ▲ beat |
| 2025-12-31 | USD 1.27 vs est 1.11 ▲ beat |
| 2025-09-30 | USD 1.98 vs est 1.64 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Financials & Fundamentals (WMS)
| Total Revenue | $3.22B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +20.60% |
| Gross Margin | +38.65% |
| Operating Margin | +26.32% |
| Profit Margin | +14.00% |
| ROE | +26.35% |
| Debt / Equity | 0.97 |
| Current Ratio | 2.12 |
| Total Cash | $162.25M |
| Total Debt | $1.77B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $550.15M (17.1% of revenue) |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Financial Health Score (WMS)
Nexqual rates Advanced Drainage Systems, Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 10:37 UTC.
| Growth | Solid — Revenue +5% YoY (annual) |
|---|---|
| Profitability | Solid — Gross margin 39%, operating 26% (last 12 months) |
| Balance Sheet | Mixed — $162M cash and investments vs $1.61B debt (Jun 2026, SEC) |
| Cash Flow | Strong — FCF $550M (last 4 quarters to Jun 2026, SEC), 17% margin |
| Efficiency | Strong — ROE 26%, ROA 11.0% |
Ownership (WMS)
| Insider Ownership | +7.17% |
|---|---|
| Institutional Ownership | +96.98% |
| Shares Outstanding | 75.41M |
| Float | 69.87M |
| Short % of Float | +3.99% |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Leadership (WMS)
Advanced Drainage Systems, Inc. is led by Donald Scott Barbour, CEO, President & Director, per Nexqual as of October 23, 2026 at 10:37 UTC.
| CEO, President & Director | Donald Scott Barbour |
|---|---|
| Executive VP, CFO, Secretary & Treasurer | Scott A. Cottrill |
| Executive Vice President of Infiltrator Water Technologies | Craig J. Taylor |
| Vice President of Corporate Strategy & Investor Relations | Michael Higgins |
| Executive Vice President of Product Management & Marketing | Brian W. King |
Major Backers & Investors (WMS)
Notable institutional backers of Advanced Drainage Systems, Inc. include First Trust Advisors LP, UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC, Impax Asset Management Group plc, according to Nexqual as of October 23, 2026 at 10:37 UTC.
Active Investors
| Investor | Stake |
|---|---|
| First Trust Advisors LP | 3.53% |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 3.11% |
| Impax Asset Management Group plc | 2.45% |
| Baillie Gifford | 2.43% |
| First TRT Exch-Trd Fd. VI-First TRT RBA American Industrial Renaissanc | 2.28% |
| American Century Companies Inc | 2.17% |
| Morgan Stanley | 1.85% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 9.91% |
| Vanguard Group | 9.42% |
| State Street | 3.57% |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
From Advanced Drainage Systems, Inc.'s Latest SEC 10-K Filing (filed 2026-05-21)
Key Strengths & Strategy (as disclosed to the SEC)
- We believe we are the only water management solutions company that manages stormwater from when the rain first hits the ground until the moment it is returned to lakes and streams.
- Stormwater products are designed as an integrated, end-to-end solution set which provides a comprehensive approach to managing stormwater from the moment it hits the ground until it is cleaned and returned to its natural environment.
- We rely upon a combination of patents, trademarks, trade names, licensing arrangements, trade secrets, know-how and proprietary technology in order to secure and protect our intellectual property rights, both in the United States and in foreign countries.
- Our approach to water management is to manage the lifecycle of a raindrop from the moment water hits the ground until it is released back into the ecosystem.
Legal & Regulatory Risks (Item 1A, quoted)
- We may be affected by global climate change or by legal, regulatory or market responses to such change.
- Our international operations expose us to political, economic and regulatory risks not normally faced by businesses that operate only in the U.S. As a result of our international operations, we could be adversely affected by violations of the U.S. Foreign Corrupt Practices Act and similar foreign anti-corruption laws.
- Our operations are affected by various laws and regulations in the markets in which we operate, including government mandated regulatory product standards, and our failure to obtain or maintain approvals by municipalities, state departments of transportation, engineers and developers may affect our results of operations.
- We could incur significant costs in complying with environmental, health and safety laws or permits or as a result of satisfying any liability or obligation imposed under such laws or permits.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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|---|---|---|---|
| OC | Owens Corning Inc | USD 116.49 | ▲ 3.8% |
| MAIR | Madison Air Solutions Corporati | USD 23.08 | ▼ 0.6% |
| SPXC | SPX Technologies, Inc. | USD 160.01 | ▼ 4.83% |
| LII | Lennox International, Inc. | USD 378.72 | ▲ 3.37% |
| AWI | Armstrong World Industries Inc | USD 171.39 | ▲ 1.57% |
| CSL | Carlisle Companies Incorporated | USD 352.6 | ▲ 3.68% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:37 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt