Advanced Drainage Systems, Inc. income statement
In fiscal 2026, Advanced Drainage Systems, Inc. reported revenue of $3.05bn, up 5.0% on the year before, operating income of $619m (a 20.3% margin) and net income of $426m, or $5.44 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2013Mar 2013 | 2014Mar 2014 | 2015Mar 2015 | 2016Mar 2016 | 2017Mar 2017 | 2018Mar 2018 | 2019Mar 2019 | 2020Mar 2020 | 2021Mar 2021 | 2022Mar 2022 | 2023Mar 2023 | 2024Mar 2024 | 2025Mar 2025 | 2026Mar 2026 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,017 | 1,068 | 1,180 | 1,291 | 1,257 | 1,330 | 1,385 | 1,674 | 1,983 | 2,769 | 3,071 | 2,874 | 2,904 | 3,050 | 3,222 |
| Cost of revenue | — | — | — | — | 961 | 1,028 | 1,058 | — | — | — | — | — | — | — | — |
| Gross profit | 188 | 193 | 205 | 285 | 296 | 302 | 327 | 316 | 690 | 800 | 1,118 | 1,146 | 1,094 | 1,167 | 1,245 |
| Selling, general and administrative | — | — | — | — | — | — | 186 | 271 | 268 | — | — | — | — | — | — |
| Selling and marketing | 72 | 74 | 80 | 88 | 91 | 93 | — | — | — | — | — | — | — | — | — |
| General and administrative | 50 | 63 | 76 | 93 | 111 | 98 | — | — | — | — | — | — | — | — | — |
| Operating income | 57 | 48 | 39 | 94 | 76 | 88 | 129 | −95 | 345 | 412 | 719 | 732 | 657 | 619 | 668 |
| Income before tax | 39 | 31 | 5 | 59 | 65 | 77 | 112 | −180 | 312 | 384 | 657 | 667 | 589 | 560 | 599 |
| Income tax | 16 | 20 | 6 | 23 | 25 | 11 | 30 | 14 | 86 | 110 | 151 | 159 | 141 | 135 | 142 |
| Net income | 21 | 4 | −8 | 25 | 62 | 62 | 78 | −193 | 224 | 271 | 507 | 510 | 450 | 426 | 451 |
| Diluted EPS | $0.27 | −$0.21 | −$0.38 | $0.39 | $0.99 | $0.99 | $1.22 | −$3.21 | $2.59 | $3.15 | $6.08 | $6.45 | $5.76 | $5.44 | $5.77 |
| Diluted shares (average) | 47m | 47m | 51m | 55m | 56m | 56m | 58m | 64m | 72m | 73m | 83m | 79m | 78m | 78m | 78m |
| EBITDA | 121 | 112 | 104 | 165 | 149 | 150 | 189 | −33 | 411 | 554 | 864 | 887 | 841 | 835 | 896 |
| Quarter | 2025 Q2Sept 2024 | 2025 Q3Dec 2024 | 2025 Q4Mar 2025 | 2026 Q1Jun 2025 | 2026 Q2Sept 2025 | 2026 Q3Dec 2025 | 2026 Q4Mar 2026 | 2027 Q1Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 783 | 691 | 616 | 830 | 850 | 693 | 677 | 1,001 |
| Gross profit | 294 | 242 | 226 | 330 | 340 | 259 | 238 | 408 |
| Selling and marketing | 94 | 101 | — | 104 | 119 | 109 | — | 131 |
| Operating income | 187 | 127 | 117 | 206 | 223 | 137 | 53 | 255 |
| Income before tax | 171 | 109 | 99 | 189 | 208 | 123 | 39 | 229 |
| Income tax | 41 | 27 | 23 | 47 | 52 | 31 | 5 | 54 |
| Net income | 130 | 81 | 77 | 144 | 156 | 94 | 33 | 169 |
| Diluted EPS | $1.67 | $1.04 | $0.99 | $1.84 | $1.99 | $1.19 | $0.42 | $2.19 |
| EBITDA | 232 | 175 | 167 | 256 | 278 | 188 | 113 | 317 |
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