Valuation, from the filing
| Public float | $10.68B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-09-30 |
|---|---|---|
| Float per share | $139.42 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 25.0× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 3.5× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 5.7× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-09-30, not today, and each multiple below it uses the figures for the fiscal year ending 2026-03-31 — the year that filing covered.
Valuation over time
25.0× earnings today, against a median of 17.2× across 9 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-09-30 | $10.68B | 25.0× | |
| 2024-09-30 | $12.03B | 26.7× | |
| 2023-09-30 | $8.79B | 17.2× | |
| 2022-09-30 | $10.07B | 19.9× | |
| 2021-09-30 | $6.03B | 22.2× | |
| 2020-09-30 | $3.12B | 13.9× | |
| 2018-09-30 | $1.18B | 15.1× | |
| 2017-09-30 | $899.00M | 14.5× | |
| 2016-09-30 | $1.05B | 16.9× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
ADVANCED DRAINAGE SYSTEMS, INC. (WMS) reported revenue of $3.22B and net income of $451.06M for the fiscal year ended 2026-06-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from ADVANCED DRAINAGE SYSTEMS, INC.’s SEC filings, each linked to the filing it came from.
Income
| Metric | 2026-06-30 |
|---|---|
| Revenue | $3.22B |
| Cost of revenue | Unavailable |
| Gross profit | $1.24B |
| Operating income | $668.00M |
| Net income | $451.06M |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $599.33M |
| Income tax expense | $142.00M |
| Diluted EPS | Unavailable |
| Selling, general & administrative | Unavailable |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-06-30 |
|---|---|
| Cash & equivalents | $162.25M |
| Total assets | $4.51B |
| Current assets | $1.24B |
| Total liabilities | $2.62B |
| Current liabilities | $585.63M |
| Total equity incl. NCI | $1.82B |
| Temporary (mezzanine) equity | $71.85M |
| Inventory | $548.54M |
| Accounts receivable | $458.55M |
| Goodwill | $1.04B |
| Long-term debt | $1.60B |
| Accounts payable | $298.24M |
Cash flow
| Metric | 2026-06-30 |
|---|---|
| Operating cash flow | $804.47M |
| Capital expenditures | $254.32M |
| Investing cash flow | -$1.20B |
| Financing cash flow | -$81.16M |
| Net change in cash | -$473.42M |
| Stock-based compensation | Unavailable |
| Common dividends paid | $57.45M |
| Common share repurchases | $325.19M |
| Depreciation & amortization | $228.19M |
Derived
| Metric | 2026-06-30 |
|---|---|
| Free cash flow | $550.15M |
| Gross margin | 38.6% |
| Operating margin | 20.7% |
| FCF margin | 17.1% |
| SBC / revenue | Unavailable |
| Current ratio | 2.12x |
| Revenue YoY growth | 10.4% |
| Net margin | 14.0% |
| R&D / revenue | Unavailable |
| CapEx / revenue | 7.9% |
| Long-term debt / equity | 0.88x |
| Effective tax rate | 23.7% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open WMS in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.