ADVANCED DRAINAGE SYSTEMS, INC.
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $426.5M | $450.2M | $509.9M | $507.1M | $271.3M | $224.2M | $-193.2M | $77.8M |
| Depreciation & Amortization | $216.3M | $183.3M | $154.9M | $145.1M | $141.8M | $66.4M | $62.2M | $59.2M |
| Depreciation | $154.4M | $128.8M | $100.3M | $86.0M | $73.5M | $68.0M | $64.6M | $59.9M |
| Amortization | $59.4M | $52.6M | $51.5M | $55.2M | $64.0M | $73.7M | $57.0M | $7.9M |
| Stock-Based Compensation | — | — | — | — | — | $65.4M | $32.4M | $21.8M |
| Net Cash from Operating Activities | $819.1M | $581.5M | $717.9M | $707.8M | $274.9M | $452.2M | $306.2M | $151.7M |
| Investing Activities | ||||||||
| Capital Expenditures | $249.8M | $212.9M | $183.8M | $166.9M | $149.1M | $78.8M | $67.7M | $43.4M |
| Business Acquisitions | $991.1M | $237.3M | $0 | $48.0M | $49.3M | $0 | $1.09B | — |
| Net Cash from Investing Activities | $-1.21B | $-447.9M | $-155.7M | $-214.5M | $-198.8M | $-77.9M | $-1.15B | $-42.5M |
| Financing Activities | ||||||||
| Dividends Paid | $56.1M | $49.7M | $44.0M | $39.6M | $37.0M | $32.2M | $92.1M | $26.1M |
| Stock Repurchases | $92.0M | $69.9M | $207.3M | $575.0M | $292.0M | $0 | $0 | — |
| Net Cash from Financing Activities | $156.3M | $-157.7M | $-284.3M | $-296.3M | $-251.1M | $-354.6M | $1.01B | $-117.7M |
| Net Change in Cash | $-235.3M | $-26.6M | $278.7M | $197.0M | $-174.9M | $20.8M | $165.3M | $-8.7M |
| Free Cash Flow | $569.3M | $368.5M | $534.1M | $540.9M | $125.8M | $373.5M | $238.5M | $108.3M |