Advanced Drainage Systems (WMS) FY2017 results: revenue $1.3 billion, down 2.6% on the year
Advanced Drainage Systems, Inc. (WMS) reported revenue of $1.3 billion for fiscal 2017, the year ended 31 March 2017, down 2.6% on the year before. Net income was $33 million, up 31.5%, and diluted earnings per share $0.50. The figures are the company's own, from the 10-K it filed with the SEC on 30 May 2019.
Revenue
$1.3 billion
-2.6% on the year
FY2013FY2017
Operating margin
6.1%
7.3% a year earlier
FY2013FY2017
Net income
$33 million
+31.5% on the year
FY2013FY2017
Diluted EPS
$0.50
+85.2% on the year
FY2013FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,257
1,291
1,180
-2.6%
Cost of revenue
961
1,006
974
-4.4%
Gross profit
296
285
205
+3.8%
Gross margin
23.5%
22.1%
17.4%
Operating income
76.3
94.3
38.7
-19.1%
Operating margin
6.1%
7.3%
3.3%
Pre-tax income
64.8
59.3
4.9
+9.3%
Income tax
24.6
23.5
6.3
+4.8%
Effective tax rate
38.0%
39.6%
127.6%
Net income
33.0
25.1
-7.8
+31.5%
Net margin
2.6%
1.9%
-0.7%
Diluted EPS
$0.50
$0.27
-$0.06
+85.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
104
135
74.4
-23.0%
Capital expenditure
46.7
44.9
32.1
+3.9%
Free cash flow
57.6
90.4
42.3
-36.3%
Free cash flow margin
4.6%
7.0%
3.6%
Cash from investing
-61.3
n/a
n/a
Cash from financing
-42.8
n/a
n/a
Depreciation and amortisation
72.4
71.0
65.5
+1.9%
Share-based compensation
17.9
4.4
37.4
+307.9%
Buybacks
n/a
n/a
0.0
Dividends paid
16.8
16.2
7.9
+3.6%
Dividend per share
$0.24
$0.20
$0.08
+20.0%
Diluted shares, weighted
56m
55m
51m
+1.0%
Shares outstanding at period end
55m
54m
54m
+1.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
223
187
161
+18.8%
Non-controlling interest
14.9
15.0
16.4
-0.8%
Redeemable equity
113
112
108
+1.0%
Debt
350
351
400
-0.2%
Other liabilities
345
372
353
-7.2%
Total liabilities and equity
1,046
1,038
1,038
+0.8%
Fixed assets
407
392
376
+3.9%
Goodwill
101
101
98.7
-0.3%
Intangible assets
51.8
59.9
58.1
-13.5%
Cash and equivalents
6.5
6.6
3.6
-1.6%
Receivables
169
187
154
-9.6%
Inventory
258
230
261
+12.1%
Other assets
53.3
61.2
87.1
-13.0%
Total assets
1,046
1,038
1,038
+0.8%
10-K for the year ended 31 March 2017, filed 30 May 2019: the filing.