Advanced Drainage Systems (WMS) FY2018 results: revenue $1.3 billion, up 5.8% on the year
Advanced Drainage Systems, Inc. (WMS) reported revenue of $1.3 billion for fiscal 2018, the year ended 31 March 2018, up 5.8% on the year before. Net income was $62 million, up 88.2%, and diluted earnings per share $0.99. The figures are the company's own, from the 10-K it filed with the SEC on 30 May 2019.
Revenue
$1.3 billion
+5.8% on the year
FY2013FY2018
Operating margin
6.6%
6.1% a year earlier
FY2013FY2018
Net income
$62 million
+88.2% on the year
FY2013FY2018
Diluted EPS
$0.99
+98.0% on the year
FY2013FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,330
1,257
1,291
+5.8%
Cost of revenue
1,028
961
1,006
+6.9%
Gross profit
302
296
285
+2.3%
Gross margin
22.7%
23.5%
22.1%
Operating income
88.3
76.3
94.3
+15.6%
Operating margin
6.6%
6.1%
7.3%
Pre-tax income
76.9
64.8
59.3
+18.7%
Income tax
11.4
24.6
23.5
-53.6%
Effective tax rate
14.8%
38.0%
39.6%
Net income
62.0
33.0
25.1
+88.2%
Net margin
4.7%
2.6%
1.9%
Diluted EPS
$0.99
$0.50
$0.27
+98.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
137
104
135
+31.5%
Capital expenditure
41.7
46.7
44.9
-10.6%
Free cash flow
95.4
57.6
90.4
+65.8%
Free cash flow margin
7.2%
4.6%
7.0%
Cash from investing
-30.4
-61.3
n/a
Cash from financing
-95.0
-42.8
n/a
Depreciation and amortisation
62.1
72.4
71.0
-14.2%
Share-based compensation
18.8
17.9
4.4
+5.4%
Buybacks
7.9
n/a
n/a
Dividends paid
18.5
16.8
16.2
+9.9%
Dividend per share
$0.28
$0.24
$0.20
+16.7%
Diluted shares, weighted
56m
56m
55m
+1.3%
Shares outstanding at period end
56m
55m
54m
+2.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
308
223
187
+38.1%
Non-controlling interest
16.7
14.9
15.0
+11.8%
Redeemable equity
110
113
112
-2.9%
Debt
301
350
351
-14.2%
Other liabilities
309
345
372
-10.7%
Total liabilities and equity
1,043
1,046
1,038
-0.3%
Fixed assets
399
407
392
-1.8%
Goodwill
103
101
101
+2.4%
Intangible assets
44.4
51.8
59.9
-14.1%
Cash and equivalents
17.6
6.5
6.6
+172.7%
Receivables
172
169
187
+1.8%
Inventory
264
258
230
+2.1%
Other assets
43.1
53.3
61.2
-19.2%
Total assets
1,043
1,046
1,038
-0.3%
10-K for the year ended 31 March 2018, filed 30 May 2019: the filing.