Advanced Drainage Systems (WMS)
Makes thermoplastic stormwater and onsite wastewater systems through an integrated production and distribution network.
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Manufactures thermoplastic pipe and related systems for stormwater and onsite wastewater markets. Stormwater and Wastewater are the two business lines, supported by recycled-plastic processing, manufacturing, and company-owned distribution, with results tied to construction activity, weather, resin availability, transportation, and acquisition integration.
Manufactures thermoplastic pipe and related systems for stormwater drainage, storage, treatment, and access across commercial, residential, infrastructure, and agricultural applications.
Stormwater and Wastewater are the reportable segments. The first combines ADS pipe with capture, storage, treatment, access-box, irrigation, and related products; the second includes Infiltrator and Orenco systems for onsite and decentralized wastewater treatment.
Recycled-plastic processing, an extensive manufacturing footprint, and company-owned distribution support material conversion and delivery of bulky pipe. Operations are concentrated in the United States, with additional activity in Canada and other markets. Results depend on construction activity, infrastructure spending, weather, resin availability, facility continuity, transportation, and integration of the recently acquired NDS platform.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 24, 2026 | National Bank | Target | Target: — | Target: $190 |
| Aug 7, 2026 | UBS | Reiterate | Rating: —Target: $205 | Target: $207 |
| Aug 7, 2026 | Robert W. Baird | Target | Target: $205 | Target: $206 |
| Aug 7, 2026 | RBC Capital | Reiterate | Rating: —Target: $170 | Target: $178 |
| Jul 14, 2026 | Barclays | Reiterate | Rating: —Target: $198 | Target: $191 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $162.3M · Total debt $1.77B · Total assets $4.51B · Shareholders' equity $1.86B
- Revenue
- $1.00B
- Operating income
- $254.5M
- Net income
- $168.5M
HistoryDividendAnnual yield
| Institutions | 93.19% | 70.27M shares | |
|---|---|---|---|
| 568 holders · as of Jun 30, 2026 | |||
| Insiders | 4.90% | 3.70M shares | |
| 21 holders · as of Sep 3, 2026 | |||
| Other | 1.91% | 1.44M shares | |
| remainder | |||
75.41M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Advanced Drainage Systems, Inc. Employee Stock Ownership PlanInstitution | 24.80% | 18.70M | filed Feb 14, 2017 |
Systems, Inc. Employee Stock Ownership PlanInstitution | 23.16% | 17.46M | filed Feb 14, 2019 |
BlackRock, Inc.Institution | 9.91% | 7.47M | as of Jun 30, 2026 |
Advanced Drainage Systems Inc. Employee Stock Ownership Plan TrustInstitution | 6.14% | 4.63M | filed Feb 13, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.91% | 3.71M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 3, 2025 | Robert M. Eversole | director | −10,569 | $152.82 |
| Nov 26, 2025 | Thomas J. Sr. Waun | officer: EVP, International | −1,500 | $155.00 |
| Nov 12, 2025 | Tim A. Makowski | officer: See Remarks | −4,901 | $149.21 |
| Nov 12, 2025 | D. Scott Barbour | director, officer: See Remarks | −80,030 | $148.95 |
| Nov 11, 2025 | Thomas J. Sr. Waun | officer: EVP, International | −1,272 | $148.30 |
