Advanced Drainage Systems (WMS) FY2023 results: revenue $3.1 billion, up 10.9% on the year
Advanced Drainage Systems, Inc. (WMS) reported revenue of $3.1 billion for fiscal 2023, the year ended 31 March 2023, up 10.9% on the year before. Net income was $507 million, up 86.9%, and diluted earnings per share $6.08. The figures are the company's own, from the 10-K it filed with the SEC on 18 May 2023.
Revenue
$3.1 billion
+10.9% on the year
FY2016FY2023
Operating margin
23.4%
14.9% a year earlier
FY2016FY2023
Net income
$507 million
+86.9% on the year
FY2016FY2023
Diluted EPS
$6.08
+93.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
708
275
452
+157.5%
Capital expenditure
167
149
78.8
+12.0%
Free cash flow
541
126
373
+329.9%
Free cash flow margin
17.6%
4.5%
18.8%
Cash from investing
-214
-199
-77.9
Cash from financing
-296
-251
-355
Depreciation and amortisation
145
142
66.4
+2.4%
Share-based compensation
21.7
24.2
65.4
-10.3%
Buybacks
575
292
0.0
+96.9%
Dividends paid
39.6
37.0
30.7
+7.0%
Dividend per share
$0.48
$0.44
$0.36
+9.1%
Diluted shares, weighted
83m
73m
72m
+14.3%
Shares outstanding at period end
70m
72m
72m
-3.9%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
824
893
820
-7.7%
Non-controlling interest
17.5
16.6
13.7
+5.2%
Redeemable equity
153
195
230
-21.6%
Debt
1,296
930
791
+39.4%
Operating lease liabilities
37.1
41.0
22.4
-9.7%
Finance lease liabilities
32.3
11.4
33.0
+183.3%
Other liabilities
541
562
504
-3.8%
Total liabilities and equity
2,901
2,650
2,414
+9.5%
Fixed assets
733
619
504
+18.4%
Goodwill
620
610
599
+1.6%
Intangible assets
408
431
482
-5.5%
Cash and equivalents
217
20.1
195
+978.9%
Receivables
307
342
236
-10.2%
Inventory
464
494
301
-6.1%
Other assets
152
132
96.3
+14.9%
Total assets
2,901
2,650
2,414
+9.5%
10-K for the year ended 31 March 2023, filed 18 May 2023: the filing.