Advanced Drainage Systems (WMS) Cash Flow: Operating & Free Cash Flow

Advanced Drainage Systems (WMS) Cash Flow Statement

In fiscal 2026 (fiscal year ended Mar 31, 2026), Advanced Drainage Systems generated $819.05M of operating cash flow and spent $249.77M on capital expenditures. That left free cash flow of $569.29M, up 54.5% from $368.55M a year earlier, or 18.7% of revenue. It returned $148.08M to shareholders through $56.12M in dividends and $91.96M in share buybacks.

Advanced Drainage Systems Cash Flow Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Advanced Drainage Systems, Inc. (WMS) - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Operating Activities
Net Income	0.43	0.45	0.51	0.51	0.28	0.23	-0.19	0.08	0.06	0.04
Depreciation & Amortization	0.22	0.18	0.15	0.15	0.14	0.15	0.12	0.07	0.08	0.07
Deferred Income Tax	0.04	0.00	0.00	-0.01	0.00	-0.01	0.00	0.01	-0.01	-0.01
Stock Based Compensation	0.03	0.03	0.03	0.02	0.11	0.07	0.28	0.02	0.02	0.02
Change in Working Capital	0.08	-0.08	0.03	0.03	-0.24	0.02	0.05	-0.04	-0.02	-0.01
Change in Accounts Receivable	0.00	0.00	-0.01	0.04	-0.10	-0.03	0.01	-0.02	0.00	0.02
Change in Inventory	0.03	-0.02	0.00	0.03	-0.19	-0.01	0.02	0.00	0.00	-0.03
Change in Accounts Payable	0.05	-0.06	0.04	-0.03	0.05	0.07	0.03	-0.02	-0.01	0.01
Change in Other Working Capital	0.02	0.00	0.00	-0.01	-0.01	0.00	0.00	0.00	0.00	0.00
Other Operating Activities	0.02	0.00	-0.01	0.00	-0.01	0.01	0.04	0.00	0.01	0.00
Net Cash from Operating Activities	0.82	0.58	0.72	0.71	0.27	0.45	0.31	0.15	0.14	0.10
Investing Activities
Capital Expenditures	-0.25	-0.21	-0.18	-0.17	-0.15	-0.08	-0.07	-0.04	-0.04	-0.05
Acquisitions	-0.99	-0.24	0.00	-0.05	-0.05	0.00	-1.09	0.00	0.00	-0.01
Other Investing Activities	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.01	-0.05
Net Cash from Investing Activities	-1.21	-0.45	-0.16	-0.21	-0.20	-0.08	-1.15	-0.04	-0.03	-0.06
Financing Activities
Debt Repayment	-0.88	-0.04	-0.01	-0.02	-0.28	-0.33	0.84	-0.09	-0.07	-0.03
Common Stock Issued	0.01	0.01	0.01	0.01	0.00	0.00	0.29	0.00	0.00	0.00
Common Stock Repurchased	-0.09	-0.07	-0.21	-0.58	-0.29	0.00	0.00	0.00	-0.01	0.00
Dividends Paid	-0.06	-0.05	-0.04	-0.04	-0.04	-0.03	-0.09	-0.03	-0.02	-0.02
Other Financing Activities	-0.02	-0.01	0.00	-0.02	-0.01	0.00	-0.03	0.00	0.00	0.00
Net Cash from Financing Activities	0.16	-0.16	-0.28	-0.30	-0.25	-0.35	1.01	-0.12	-0.09	-0.04
Summary
Effect of Forex Changes on Cash	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Change in Cash	-0.24	-0.03	0.28	0.20	-0.17	0.02	0.17	-0.01	0.01	0.00
Cash at Beginning of Period	0.47	0.50	0.22	0.02	0.20	0.17	0.01	0.02	0.01	0.01
Cash at End of Period	0.23	0.47	0.50	0.22	0.02	0.20	0.17	0.01	0.02	0.01
Free Cash Flow	0.57	0.37	0.53	0.54	0.13	0.37	0.24	0.11	0.10	0.05
Supplemental Disclosures
Interest Paid	-	0.09	0.09	0.06	0.03	0.04	-	-	-	-
Income Taxes Paid	-	0.14	0.16	0.17	0.11	0.10	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Advanced Drainage Systems Cash Flow

What is Advanced Drainage Systems's free cash flow?

Advanced Drainage Systems generated free cash flow of $569.29M in fiscal 2026 (fiscal year ended Mar 31, 2026), operating cash flow of $819.05M minus $249.77M of capital expenditures. That was up 54.5% from $368.55M a year earlier. Free cash flow equaled 18.7% of revenue.

How much does Advanced Drainage Systems spend on capital expenditures?

Advanced Drainage Systems spent $249.77M on capital expenditures in fiscal 2026, compared with $212.94M a year earlier. That equals 30.5% of operating cash flow.

Does Advanced Drainage Systems pay dividends or buy back shares?

Yes. In fiscal 2026 Advanced Drainage Systems returned $56.12M in dividends and $91.96M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition