Advanced Drainage Systems, Inc. (WMS) Balance Sheet
WMS balance sheet, FY2026
March 31, 2026 · U.S. dollars$4.51B assets = $2.55B liabilities + $1.96B equity
Both columns are drawn to the same scale: what WMS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
WMS financial health
Descriptive bands, not a rating. Fiscal FY2026.
WMS balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.05BFY2017 | $4.51BFY2026 | +17.6%/yr | |
| Total liabilities | $704.1MFY2017 | $2.55BFY2026 | +15.4%/yr | |
| Shareholders’ equity | $327.3MFY2017 | $1.93BFY2026 | +21.8%/yr | |
| Cash & short-term investments | $6.5MFY2017 | $223.0MFY2026 | +48.2%/yr | |
| Total debt | $428.8MFY2017 | $1.79BFY2026 | +17.2%/yr | |
| Net cash (debt) | −$422.3MFY2017 | −$1.57BFY2026 | −$1.1B | |
| Working capital | $184.8MFY2017 | $721.4MFY2026 | +$536.5M | |
| Book value per share | $5.88FY2017 | $24.62FY2026 | +17.2%/yr | |
| Current ratio | 1.72FY2017 | 2.42FY2026 | +0.69 | |
| Debt / equity | 1.31FY2017 | 0.93FY2026 | −0.38 | |
| Shares outstanding | 55.6MFY2017 | 78.5MFY2026 | +3.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WMS assets
WMS liabilities and equity
WMS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
WMS balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $223.0M | $463.3M | $490.2M | $217.1M | $20.1M | $195.0M | $174.2M | $8.9M | $17.6M | $6.5M |
| Cash & equivalents | $223.0M | $463.3M | $490.2M | $217.1M | $20.1M | $195.0M | $174.2M | $8.9M | $17.6M | $6.5M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $390.5M | $333.2M | $323.6M | $306.9M | $341.8M | $236.2M | $200.0M | $187.0M | $172.0M | $168.9M |
| Inventory | $543.4M | $488.3M | $464.2M | $464.0M | $494.3M | $301.0M | $282.4M | $264.5M | $263.8M | $258.4M |
| Other current assets | $73.9M | $40.0M | $22.0M | $29.4M | $15.7M | $10.8M | $9.6M | $6.1M | $5.1M | $6.7M |
| Total current assets | $1.23B | $1.32B | $1.30B | $1.02B | $871.9M | $743.0M | $666.2M | $466.5M | $458.5M | $440.6M |
| Property, plant & equipment (net) | $1.22B | $1.05B | $876.4M | $733.1M | $619.4M | $504.3M | $506.3M | $398.9M | $399.4M | $406.9M |
| Goodwill & intangible assets | $1.89B | $1.17B | $969.8M | $1.03B | $1.04B | $1.08B | $1.16B | $152.9M | $157.6M | $160.3M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $11.9M | $9.2M | $10.5M | $12.3M | $9.0M |
| Other non-current assets | $166.4M | $146.3M | $122.8M | $122.8M | $116.8M | $73.6M | $24.0M | $13.4M | $15.4M | $29.6M |
| Total assets | $4.51B | $3.69B | $3.27B | $2.90B | $2.65B | $2.41B | $2.37B | $1.04B | $1.04B | $1.05B |
| Liabilities | ||||||||||
| Accounts payable | $237.7M | $218.0M | $254.4M | $210.1M | $225.0M | $171.1M | $106.7M | $93.6M | $105.5M | $121.9M |
| Short-term debt | $65.3M | $62.5M | $45.6M | $37.6M | $38.7M | $35.3M | $36.1M | $49.0M | $48.9M | $59.2M |
| Deferred revenue | — | — | $1.1M | — | — | — | — | — | — | $62.7M |
| Total current liabilities | $509.5M | $398.4M | $439.6M | $378.8M | $391.2M | $318.3M | $238.2M | $206.3M | $221.2M | $255.8M |
| Long-term debt | $1.61B | $1.38B | $1.32B | $1.27B | $908.7M | $782.2M | $1.09B | $270.2M | $330.9M | $369.6M |
| Lease obligations | $181.4M | $183.6M | $95.4M | $40.8M | $30.7M | $52.3M | $72.6M | $61.6M | $60.0M | $58.7M |
| Other long-term liabilities | $434.2M | $273.6M | $227.4M | $258.1M | $244.8M | $249.9M | $257.7M | $65.1M | $65.8M | $78.8M |
| Total liabilities | $2.55B | $2.05B | $1.99B | $1.91B | $1.54B | $1.35B | $1.59B | $541.5M | $617.9M | $704.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $11.7M | $11.7M | $11.7M | $11.6M | $11.6M | $11.6M | $11.6M | $11.4M | $11.4M | $12.4M |
| Retained earnings (deficit) | $1.86B | $1.49B | $1.09B | $626.2M | $158.9M | −$75.2M | −$267.6M | $17.6M | −$39.2M | −$83.7M |
| Treasury stock | — | — | — | −$921.0M | −$318.7M | −$11.0M | −$10.5M | −$9.9M | −$8.3M | −$437.0M |
| Accumulated other comprehensive income | −$32.3M | −$37.2M | −$29.8M | −$27.6M | −$24.4M | −$24.2M | −$35.3M | −$25.9M | −$21.2M | −$24.8M |
| Minority interest | $23.6M | $17.7M | $18.8M | $17.5M | $16.6M | $13.7M | $11.8M | $14.0M | $16.7M | $14.9M |
| Total shareholders' equity | $1.93B | $1.62B | $1.26B | $977.4M | $1.09B | $1.05B | $772.8M | $486.6M | $408.7M | $327.3M |
| Key figures | ||||||||||
| Total debt | $1.79B | $1.45B | $1.37B | $1.34B | $958.8M | $850.5M | $1.17B | $319.2M | $379.7M | $428.8M |
| Net cash (debt) | −$1.57B | −$981.8M | −$876.6M | −$1.12B | −$938.7M | −$655.5M | −$995.7M | −$310.3M | −$362.1M | −$422.3M |
| Working capital | $721.4M | $926.4M | $860.3M | $638.7M | $480.7M | $424.7M | $428.0M | $260.2M | $237.2M | $184.8M |
| Tangible book value | $41.1M | $449.8M | $292.1M | −$50.5M | $46.7M | −$31.4M | −$391.4M | $333.8M | $251.0M | $167.0M |
| Book value per share | $24.62 | $20.69 | $15.97 | $11.73 | $14.93 | $14.67 | $12.11 | $8.45 | $7.25 | $5.88 |
| Shares outstanding | 78.5M | 78.2M | 79.0M | 83.3M | 72.9M | 71.6M | 63.8M | 57.6M | 56.3M | 55.6M |
| Current ratio | 2.42 | 3.33 | 2.96 | 2.69 | 2.23 | 2.33 | 2.80 | 2.26 | 2.07 | 1.72 |
| Quick ratio | 1.20 | 2.00 | 1.85 | 1.38 | 0.92 | 1.35 | 1.57 | 0.95 | 0.86 | 0.69 |
| Debt / equity | 0.93 | 0.89 | 1.08 | 1.37 | 0.88 | 0.81 | 1.51 | 0.66 | 0.93 | 1.31 |
| Equity / assets | 42.9% | 43.8% | 38.6% | 33.7% | 41.1% | 43.5% | 32.6% | 46.7% | 39.2% | 31.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $162.3M | $223.0M | $1.01B | $812.9M | $638.3M | $463.3M | $488.9M | $613.0M | $541.6M | $490.2M | $560.7M | $470.4M |
| Cash & equivalents | $162.3M | $223.0M | $1.01B | $812.9M | $638.3M | $463.3M | $488.9M | $613.0M | $541.6M | $490.2M | $560.7M | $470.4M |
| Receivables | $458.6M | $390.5M | $237.6M | $400.5M | $379.8M | $333.2M | $247.9M | $357.6M | $369.3M | $323.6M | $240.8M | $352.6M |
| Inventory | $548.5M | $543.4M | $431.2M | $423.8M | $453.7M | $488.3M | $476.4M | $487.2M | $487.8M | $464.2M | $405.4M | $385.1M |
| Other current assets | $71.6M | $73.9M | $28.1M | $35.8M | $45.3M | $40.0M | $31.9M | $34.0M | $25.6M | $22.0M | $31.5M | $23.9M |
| Total current assets | $1.24B | $1.23B | $1.71B | $1.67B | $1.52B | $1.32B | $1.25B | $1.49B | $1.42B | $1.30B | $1.24B | $1.23B |
| Property, plant & equipment (net) | $1.23B | $1.22B | $1.15B | $1.11B | $1.08B | $1.05B | $1.02B | $955.4M | $927.7M | $876.4M | $810.9M | $774.0M |
| Goodwill & intangible assets | $1.87B | $1.89B | $1.14B | $1.15B | $1.16B | $1.17B | $1.18B | $946.1M | $957.8M | $969.8M | $983.0M | $1.00B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $167.8M | $166.4M | $150.2M | $146.4M | $151.2M | $146.3M | $156.6M | $142.3M | $137.8M | $122.8M | $129.6M | $129.8M |
| Total assets | $4.51B | $4.51B | $4.14B | $4.08B | $3.91B | $3.69B | $3.60B | $3.54B | $3.45B | $3.27B | $3.16B | $3.14B |
| Liabilities | ||||||||||||
| Accounts payable | $298.2M | $237.7M | $168.9M | $225.9M | $227.1M | $218.0M | $183.9M | $273.3M | $264.8M | $254.4M | $207.9M | $223.5M |
| Short-term debt | $45.9M | $65.3M | $43.1M | $49.5M | $44.5M | $62.5M | $41.6M | $37.4M | $34.1M | $45.6M | $25.1M | $24.6M |
| Deferred revenue | — | — | — | — | — | — | — | $4.6M | $45.7M | $1.1M | $13.8M | $20.9M |
| Total current liabilities | $585.6M | $509.5M | $413.4M | $480.9M | $471.6M | $398.4M | $388.1M | $467.3M | $492.9M | $439.6M | $409.1M | $427.9M |
| Long-term debt | $1.60B | $1.61B | $1.40B | $1.38B | $1.39B | $1.38B | $1.37B | $1.35B | $1.26B | $1.26B | $1.26B | $1.30B |
| Lease obligations | $153.2M | $181.4M | $163.5M | $173.8M | $170.9M | $183.6M | $145.9M | $116.5M | $102.2M | $95.4M | $50.8M | $43.4M |
| Other long-term liabilities | $429.3M | $434.2M | $299.4M | $287.8M | $274.3M | $273.6M | $281.7M | $230.8M | $312.5M | $289.1M | $269.2M | $232.0M |
| Total liabilities | $2.62B | $2.55B | $2.12B | $2.15B | $2.13B | $2.05B | $2.04B | $2.04B | $2.06B | $1.99B | $1.94B | $1.96B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $11.7M | $11.7M | $11.7M | $94.3M | $99.7M | $104.3M | $106.9M | $109.9M | $115.5M | $120.3M | $133.4M | $145.0M |
| Retained earnings (deficit) | $2.02B | $1.86B | $1.84B | $1.76B | $1.62B | $1.49B | $1.43B | $1.36B | $1.24B | $1.09B | $1.01B | $913.6M |
| Accumulated other comprehensive income | −$66.2M | −$32.3M | −$30.2M | −$33.2M | −$31.6M | −$37.2M | −$38.4M | −$30.7M | −$31.8M | −$29.8M | −$26.6M | −$29.7M |
| Minority interest | $26.7M | $23.6M | $22.4M | $20.2M | $19.2M | — | — | — | — | — | — | — |
| Total shareholders' equity | $1.86B | $1.93B | $2.01B | $1.91B | $1.76B | $1.62B | $1.55B | $1.47B | $1.37B | $1.26B | $1.20B | $1.16B |
| Key figures | ||||||||||||
| Total debt | $1.77B | $1.79B | $1.45B | $1.43B | $1.43B | $1.45B | $1.41B | $1.38B | $1.37B | $1.37B | $1.32B | $1.32B |
| Net cash (debt) | −$1.60B | −$1.57B | −$437.5M | −$618.1M | −$792.0M | −$981.8M | −$920.8M | −$769.7M | −$829.3M | −$876.6M | −$764.1M | −$850.2M |
| Working capital | $655.3M | $721.4M | $1.29B | $1.19B | $1.05B | $926.4M | $857.0M | $1.02B | $931.4M | $860.3M | $829.3M | $804.0M |
| Tangible book value | −$7.5M | $41.1M | $871.1M | $759.8M | $596.0M | $449.8M | $363.2M | $528.6M | $409.1M | $292.1M | $217.2M | $160.5M |
| Book value per share | $24.19 | $24.62 | $25.61 | $24.38 | $22.52 | $20.69 | $19.79 | $18.88 | $17.46 | $16.08 | $15.27 | $14.66 |
| Shares outstanding | 77.0M | 78.5M | 78.3M | 78.3M | 78.1M | 78.2M | 78.1M | 78.1M | 78.3M | 78.5M | 78.6M | 79.3M |
| Current ratio | 2.12 | 2.42 | 4.12 | 3.48 | 3.22 | 3.33 | 3.21 | 3.19 | 2.89 | 2.96 | 3.03 | 2.88 |
| Quick ratio | 1.06 | 1.20 | 3.01 | 2.52 | 2.16 | 2.00 | 1.90 | 2.08 | 1.85 | 1.85 | 1.96 | 1.92 |
| Debt / equity | 0.95 | 0.93 | 0.72 | 0.75 | 0.81 | 0.89 | 0.91 | 0.94 | 1.00 | 1.08 | 1.10 | 1.14 |
| Equity / assets | 41.3% | 42.9% | 48.4% | 46.8% | 45.0% | 43.8% | 42.9% | 41.7% | 39.6% | 38.6% | 38.0% | 37.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed May 21, 2026); data from EODHD.
WMS financial position
At the end of fiscal 2026 (March 31, 2026), Advanced Drainage Systems had total assets of $4.5 billion (up 22.1% from a year earlier), total liabilities of $2.5 billion and shareholders' equity of $1.9 billion. It held $223.0 million in cash and short-term investments against $1.8 billion of debt, net debt of $1.6 billion. Its current ratio was 2.42. In the latest quarter (ended June 30, 2026) total assets were $4.5 billion and equity $1.9 billion.
Related: WMS income statement, WMS cash flow statement, WMS key metrics. See the WMS stock overview for the latest quote and news.
WMS balance sheet FAQ
What are Advanced Drainage Systems's total assets?
Advanced Drainage Systems reported total assets of $4.5 billion at the end of fiscal 2026 (March 31, 2026), compared with $3.7 billion a year earlier.
How much debt does Advanced Drainage Systems have?
Advanced Drainage Systems had $1.8 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.93.
How much cash does Advanced Drainage Systems have?
Advanced Drainage Systems held $223.0 million in cash and short-term investments at the end of fiscal 2026; with $1.8 billion of debt that is net debt of $1.6 billion.
What is Advanced Drainage Systems's book value?
Advanced Drainage Systems's shareholders' equity (book value) was $1.9 billion at the end of fiscal 2026, or $24.62 per share.
What is Advanced Drainage Systems's current ratio?
Advanced Drainage Systems had current assets of $1.2 billion and current liabilities of $509.5 million, a current ratio of 2.42 (it can cover its short-term obligations).
How much goodwill does Advanced Drainage Systems have?
Advanced Drainage Systems carried $1.9 billion of goodwill and intangible assets, 42.0% of total assets, at the end of fiscal 2026.