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Friday 6 November 2026 Export WMS’s income statement to Excel — free account

Advanced Drainage Systems, Inc.

WMS Industrials Building Products & Equipment

Advanced Drainage Systems, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $3.1 billion, up 5.03% from fiscal 2025.

Revenue
+4.59%
EPS
−26.9%
Free cash flow
−8.28%
Total debt
+24.6%

Quarter to September 2026, against a year earlier

123.42 20.65 −14.33%
Market cap
$9.3B
P/E
23.3×
Fwd P/E
21.8×
Dividend yield
0.62%
F-score
4/9
Altman Z
4.34
Beneish M
−2.67
Dividend safety
85/100
Overview Business Profile Earnings & Analysis
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Advanced Drainage Systems, Inc. (WMS) Gross margin

Alert me on Gross margin

Advanced Drainage Systems, Inc.'s gross margin over the twelve months to 30 September 2026 was 38.4%, up 0.1 percentage points from fiscal 2026 (38.3%). Over the past ten years it has ranged from 17.4% (fiscal 2015) to 39.9% (fiscal 2024); the current reading is higher than 92% of that period. That is above the Building Products & Equipment industry median of 31.9% and above the Industrials sector median of 30.6%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2026 38.3% 0.59
FY2025 37.7% (2.19)
FY2024 39.9% 3.45
FY2023 36.4% 7.52
FY2022 28.9% (5.90)
FY2021 34.8% 15.89
FY2020 18.9% (4.70)
FY2019 23.6% 0.87
FY2018 22.7% (0.79)
FY2017 23.5% 1.42

Quarterly newest first

Period Gross margin Change (points)
Sep 2026 38.9% (1.87)
Jun 2026 40.8% 5.64
Mar 2026 35.1% (2.26)
Dec 2025 37.4% (2.62)
43 more quarters

Against its own ten years

Low 17.4% High 39.9%
Ten-year median 26.3%
Current reading's percentile 86

Gross margin against peers

Company Gross margin
SPXC SPX Technologies, Inc. compare 39.9%
AWI Armstrong World Industries, Inc. compare 39.8%
MAIR Madison Air Solutions Corporation compare 38.4%
WMS Advanced Drainage Systems, Inc. 38.4%
MAS Masco Corporation compare 37.6%
CSL Carlisle Companies Incorporated compare 34.7%
LII Lennox International, Inc. compare 32.6%
BLDR Builders FirstSource, Inc. compare 28.5%
OC Owens Corning Inc compare 25.0%
Building Products & Equipment industry median 31.9%
Industrials sector median 30.6%
Market median 45.1%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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