Loading…
Maker of corrugated plastic (HDPE) pipe and water management products for stormwater drainage, sewage and agricultural applications.
Maker of corrugated plastic (HDPE) pipe and water management products for stormwater drainage, sewage and agricultural applications.
Pipe is bulky and costly to ship, so it makes and sells through many local plants and distributors, with demand following construction starts and farm-drainage work. Resin is its main input, and it recycles plastic into part of its supply. Each project buys the pipe plus fittings and water-treatment units.
Moat: narrow (scale, cost advantage, distribution). Large-scale plastic pipe manufacturing and recycling gives a cost/logistics edge over smaller regional producers.
Headquarters: Hilliard, Ohio, USA · Founded: 1966 · Employees: 6,425
Size Advanced Drainage Systems (WMS) is a United States Industrials company (Miscellaneous Manufacturing) with a market value of $9.37B, the 808th largest of 3,117 United States companies the cockpit tracks. Shares closed at $124.31 on 6 Nov 2026.
Performance Over six months the shares fell 13.2%, against -5.0% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 12 in its peer set.
Growth Revenue grew 10.4% over the last twelve months (peer median +6.9%); the operating margin is 21.5% (peer median 14.2%).
Valuation It trades at 20.1× forward earnings against a peer median of 19.5× (6th most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.8 points above its cost of capital (10.4% WACC).
Short interest Short interest is 4.5% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.22B | $3.05B | $2.90B | $2.87B | $3.07B |
| Revenue growth | — | +5% | +1% | -6% | — |
| Gross profit | $1.14B | $1.12B | $1.04B | $1.09B | $1.06B |
| EBITDA | $921M | $908M | $844M | $877M | $866M |
| Net income | $451M | $426M | $450M | $510M | $507M |
| Free cash flow | $550M | $569M | $369M | $534M | $541M |
| Capital expenditure | $254M | $250M | $213M | $184M | $167M |
| Total debt | $1.77B | $1.85B | $1.49B | $1.41B | $1.38B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | WMS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.5% | +1.2% | 6th lowest of 12 |
| 6-month return | -13.2% | -5.0% | 5th lowest of 12 |
| Distance from 52-week high | -30.7% | -23.8% | 4th lowest of 12 |
| Revenue growth (TTM) | +10.4% | +6.9% | 4th highest of 12 |
| Operating margin | 21.5% | 14.2% | 2nd highest of 12 |
| Forward P/E | 20.1× | 19.5× | 6th most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 10.8% | 10.0% | 5th most demanding of 12 |
| Growth delivered (Del g) | +9.0% | +8.5% | 6th highest of 12 |
| Hurdle (Req g minus delivered) | +1.8 pp | +3.3 pp | 6th least demanding of 12 |
| ROIC minus cost of capital | +4.8 pp | +4.8 pp | 6th highest of 12 |
| EV / EBITDA | 12.0× | 12.3× | 4th cheapest of 10 |
| Net debt / EBITDA | 1.7× | 0.7× | 3rd most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Advanced Drainage Systems WMS | United States | $9.37B | -13% | +10% | 22% | 20.1× | 10.8% | +9.0% |
| Focus Media Information Technology 002027.SZ | China | $12.0B | -12% | -2% | 30% | 14.4× | 1.2% | +1.1% |
| Armstrong World Industries AWI | United States | $7.16B | +6% | +9% | 19% | 18.6× | 16.2% | +11.6% |
| Ansell ANN.AX | Australia | $4.42B | +79% | +2% | 15% | 19.2× | 10.3% | +3.0% |
| Supreme Industries SUPREMEIND.NS | India | $4.24B | -14% | +17% | 10% | 33.6× | 25.8% | +12.1% |
| Brady BRC | United States | $3.69B | 0% | +10% | 16% | 12.0× | 1.0% | +7.7% |
| Astral ASTRAL.NS | India | $3.57B | -20% | +17% | 12% | 46.8× | 32.5% | +15.6% |
| Kurita Water Industries 6370.T | Japan | $3.47B | -39% | +1% | 14% | 11.3× | 5.6% | +8.5% |
| TOMRA Systems TOM.OL | Norway | $3.17B | +6% | +7% | 11% | 31.8× | 9.5% | +9.2% |
| Hill & Smith HILS.L | United Kingdom | $2.88B | +10% | +3% | 16% | 19.5× | 19.4% | +5.6% |
| Daetwyler DAE.SW | Switzerland | $2.72B | -21% | +2% | 10% | 24.7× | 9.3% | +6.0% |
| Hanshow Technology 301275.SZ | China | $2.68B | -5% | +42% | 13% | 27.7× | 10.0% | +13.6% |