ADVANCED DRAINAGE SYSTEMS, INC.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.05B | $2.90B | $2.87B | $3.07B | $2.77B | $1.98B | $1.67B | $1.38B |
| Cost of Revenue | — | — | — | — | — | — | — | $1.06B |
| Gross Profit | $1.17B | $1.09B | $1.15B | $1.12B | $800.4M | $690.1M | $316.5M | $327.0M |
| Gross Margin | 38.3% | 37.7% | 39.9% | 36.4% | 28.9% | 34.8% | 18.9% | 23.6% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | $267.6M | $271.3M | $186.0M |
| Operating Income | $619.2M | $657.4M | $732.1M | $719.3M | $411.9M | $344.5M | $-95.3M | $129.4M |
| Operating Margin | 20.3% | 22.6% | 25.5% | 23.4% | 14.9% | 17.4% | -5.7% | 9.3% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $559.8M | $589.5M | $666.8M | $657.1M | $383.5M | $312.3M | $-179.6M | $111.6M |
| Income Tax Expense | $135.0M | $141.1M | $159.0M | $150.6M | $110.1M | $86.4M | $14.1M | $30.0M |
| Net Income | $426.5M | $450.2M | $509.9M | $507.1M | $271.3M | $224.2M | $-193.2M | $77.8M |
| Net Margin | 14.0% | 15.5% | 17.7% | 16.5% | 9.8% | 11.3% | -11.5% | 5.6% |
| EPS (Basic) | $5.48 | $5.81 | $6.52 | $6.16 | $3.22 | $2.64 | $-3.21 | $1.23 |
| EPS (Diluted) | $5.44 | $5.76 | $6.45 | $6.08 | $3.15 | $2.59 | $-3.21 | $1.22 |
| Shares Outstanding (Basic) | 77.8M | 77.5M | 78.3M | 82.3M | 71.3M | 70.2M | 63.8M | 57.0M |
| Shares Outstanding (Diluted) | 78.4M | 78.2M | 79.0M | 83.3M | 72.9M | 71.6M | 63.8M | 57.6M |
| Dividends Per Share | $0.72 | $0.64 | $0.56 | $0.48 | $0.44 | $0.36 | $1.36 | $0.32 |