Advanced Drainage Systems, Inc.

WMSNYSEIndustrials● Active

$130.89

+$0.74(+0.57%)

Market Cap$10.0B

P/E Ratio—

52W High$179.315

52W Low$109.63

Avg Volume936K

Open$132.10

Beta1.29

Overview

Advanced Drainage Systems, Inc. (WMS) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

WMS · free cash flow · updated Jun 8, 2026

Core FCF metrics

WMS · FCF · TTM · margin & CAGR

Free cash flow was $569.3M for FY2026 (fiscal year ending 2026-03-31), up 54.5% year-over-year The FCF margin was 18.7%. Five-year CAGR stands at +8.8%.

FY2026 Free Cash Flow$569.3M▲ +54.5% YoY

Trailing 12M (TTM)$569.3Mtrailing 4 quarters sum

FCF Margin18.7%$569.3M ÷ revenue

3-Year CAGR+1.7%FY2023 → FY2026

5-Year CAGR+8.8%FY2021 → FY2026

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

WMS · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2026Latest$819.1M(250M)$569.3M▲ +54.5%18.7%

FY2025$581.5M(213M)$368.5M▼ 31.0%12.7%

FY2024$717.9M(184M)$534.1M▼ 1.3%18.6%

FY2023$707.8M(167M)$540.9M▲ +329.9%17.6%

FY2022$274.9M(149M)$125.8M▼ 66.3%4.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

WMS · P/FCF · FCF yield · FCF per share

Advanced Drainage Systems, Inc. (WMS) trades at a FCF yield of 5.71% and a price-to-free-cash-flow ratio of 17.9x. FCF per share stands at $7.32, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

5.71%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$7.32

TTM FCF ÷ Shares Outstanding

Price / FCF

x17.9

Share Price ÷ FCF per Share

EV / FCF (TTM)

x20.2

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2026 · 2026-03-31

Cash flow statement summary

WMS · cash flow statement · operating / investing / financing

For FY2026, Advanced Drainage Systems, Inc. generated $819.1M in operating cash flow and spent 250M in capital expenditures, yielding $569.3M in free cash flow.

Operating Activities

+$819.1M

Cash from core business operations

2026-03-31

Investing Activities

−$1.21B

CapEx, acquisitions & investments

2026-03-31

Financing Activities

+$156.3M

Buybacks, dividends & debt

2026-03-31

FCF FormulaOperating CF ($819.1M) − |CapEx| (250M) = FCF ($569.3M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

WMS vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Advanced Drainage Systems, Inc.YOU

WMS

$569.3M+54.5%18.7%

Union Pacific Corporation

Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Advanced Drainage Systems, Inc. (WMS) reported free cash flow of $569.3M for FY2026 (fiscal year ending 2026-03-31), up 54.5% year-over-year. The FCF margin was 18.7%.

Based on available data, Advanced Drainage Systems, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $569.3M in FY2026. The 5-year CAGR stands at +8.8%.

Advanced Drainage Systems, Inc.'s FCF yield is 5.71% and price-to-FCF ratio is 17.9x for FY2026, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

WMS free cash flow · 8 questions

Advanced Drainage Systems, Inc. free cash flow was $569.3M for FY2026, up 54.5% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $569.3M.

WMS free cash flowWMS FCFWMS FCF 2026WMS free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Advanced Drainage Systems, Inc. · Advanced Drainage Systems, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026