Advanced Drainage Systems (WMS) FY2020 results: revenue $1.7 billion, up 20.9% on the year
Advanced Drainage Systems, Inc. (WMS) reported revenue of $1.7 billion for fiscal 2020, the year ended 31 March 2020, up 20.9% on the year before. Net income was -$193 million, and diluted earnings per share $-3.21. The figures are the company's own, from the 10-K it filed with the SEC on 1 June 2020.
Revenue
$1.7 billion
+20.9% on the year
FY2013FY2020
Operating margin
-5.7%
9.3% a year earlier
FY2013FY2020
Net income
-$193 million
FY2013FY2020
Diluted EPS
-$3.21
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,674
1,385
1,330
+20.9%
Cost of revenue
n/a
1,058
1,028
Gross profit
316
327
302
-3.2%
Gross margin
18.9%
23.6%
22.7%
Selling, general and administrative
271
186
n/a
+45.9%
Operating income
-95.3
129
88.3
Operating margin
-5.7%
9.3%
6.6%
Pre-tax income
-180
112
76.9
Income tax
14.1
30.0
11.4
-53.1%
Effective tax rate
n/a
26.9%
14.8%
Net income
-193
77.8
62.0
Net margin
-11.5%
5.6%
4.7%
Diluted EPS
-$3.21
$1.22
$0.99
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
306
152
137
+101.9%
Capital expenditure
67.7
43.4
41.7
+55.9%
Free cash flow
239
108
95.4
+120.3%
Free cash flow margin
14.2%
7.8%
7.2%
Cash from investing
-1,150
-42.5
-30.4
Cash from financing
1,012
-118
-95.0
Depreciation and amortisation
62.2
59.2
62.1
+5.2%
Share-based compensation
32.4
21.8
18.8
+48.4%
Buybacks
0.0
n/a
7.9
Dividends paid
92.1
26.1
18.5
+252.3%
Dividend per share
$1.36
$0.32
$0.28
+325.0%
Diluted shares, weighted
64m
58m
56m
+10.8%
Shares outstanding at period end
69m
57m
56m
+20.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
526
384
308
+36.8%
Non-controlling interest
11.8
14.0
16.7
-15.9%
Redeemable equity
247
102
110
+141.5%
Debt
1,100
237
301
+364.4%
Operating lease liabilities
17.2
n/a
n/a
Finance lease liabilities
44.5
61.6
n/a
-27.7%
Other liabilities
424
243
309
+74.3%
Total liabilities and equity
2,370
1,042
1,043
+127.4%
Fixed assets
481
399
399
+20.7%
Goodwill
598
103
103
+482.5%
Intangible assets
555
37.2
44.4
+1,393.8%
Cash and equivalents
174
8.9
17.6
+1,859.7%
Receivables
200
187
172
+7.0%
Inventory
282
265
264
+6.8%
Other assets
78.7
43.0
43.1
+82.9%
Total assets
2,370
1,042
1,043
+127.4%
10-K for the year ended 31 March 2020, filed 1 June 2020: the filing.