Advanced Drainage Systems, Inc. (WMS) Revenue History
Annual and quarterly revenue from 2012 to present
WMS Revenue Over Time (2012–2026)
WMS Revenue Growth History
12 of 14 years with positive growth- FY2012 revenue growth
- N/A
- FY2013 revenue growth
- +0.3%
- FY2014 revenue growth
- +5.1%
- FY2015 revenue growth
- +10.2%
- FY2016 revenue growth
- +9.5%
- FY2017 revenue growth
- -2.5%
- FY2018 revenue growth
- +5.8%
- FY2019 revenue growth
- +4.1%
- FY2020 revenue growth
- +20.9%
- FY2021 revenue growth
- +18.5%
- FY2022 revenue growth
- +39.7%
- FY2023 revenue growth
- +10.9%
- FY2024 revenue growth
- -6.4%
- FY2025 revenue growth
- +1.0%
- FY2026 revenue growth
- +5.0%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2026 | $676.8M | +9.9% |
| Q3 2026 | $693.4M | +0.4% |
| Q2 2026 | $850.4M | +8.7% |
| Q1 2026 | $829.9M | +1.8% |
| Q4 2025 | $615.8M | -5.8% |
| Q3 2025 | $690.5M | +4.3% |
| Q2 2025 | $782.6M | +0.3% |
| Q1 2025 | $815.3M | +4.8% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2026)
WMS's revenue distribution by segment and geography for fiscal year 2026
By Product/Segment
By Geography
WMS Revenue Analysis (2012–2026)
Current Revenue & Growth
As of June 22, 2026, Advanced Drainage Systems, Inc. (WMS) generated trailing twelve-month (TTM) revenue of $3.05 billion, reflecting solid growth of +9.9% year-over-year. The most recent quarter (Q4 2026) recorded $676.8 million in revenue, down 2.4% sequentially.
Historical Growth Trajectory
WMS's 5-year compound annual growth rate (CAGR) stands at +9.0%, indicating steady revenue expansion. The 3-year CAGR of -0.2% is below the 5-year average, signalling a growth deceleration in recent years. Advanced Drainage Systems, Inc.'s highest annual revenue of $3.07 billion was recorded in 2023.
Revenue by Segment
WMS's revenue is primarily driven by Intersegment Eliminations (100%). With over half of revenue concentrated in Intersegment Eliminations, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Industrials sector peers — including NVR (-3.5% YoY), AAON (+28.3% YoY), and FBIN (-2.0% YoY) — WMS has outperformed the peer group in revenue growth. Compare WMS vs NVR →
WMS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| WMSCurrent | $3.1B | +9.9% | +9.0% | 22.5% | |
 NVR | $10.3B | -3.5% | +6.5% | 16.2% | |
 AAON | $1.4B | +28.3% | +22.9% | 10.6% | |
 FBIN | $4.5B | -2.0% | +4.3% | 13.9% | |
 TREX | $1.2B | +5.4% | +5.9% | 22.0% | |
 PNR | $4.2B | +3.1% | +6.7% | 20.5% |
WMS Historical Revenue Data (2012–2026)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2026 | $3.05B | +5.0% | $1.11B | 36.3% | $686.7M | 22.5% |
| 2025 | $2.90B | +1.0% | $1.09B | 37.7% | $657.4M | 22.6% |
| 2024 | $2.87B | -6.4% | $1.15B | 39.9% | $732.1M | 25.5% |
| 2023 | $3.07B | +10.9% | $1.12B | 36.4% | $719.3M | 23.4% |
| 2022 | $2.77B | +39.7% | $800.4M | 28.9% | $411.9M | 14.9% |
| 2021 | $1.98B | +18.5% | $690.1M | 34.8% | $344.5M | 17.4% |
| 2020 | $1.67B | +20.9% | $497.5M | 29.7% | $-95,349,000 | -5.7% |
| 2019 | $1.38B | +4.1% | $327.0M | 23.6% | $129.4M | 9.3% |
| 2018 | $1.33B | +5.8% | $302.5M | 22.7% | $88.3M | 6.6% |
| 2017 | $1.26B | -2.5% | $295.8M | 23.5% | $76.3M | 6.1% |
| 2016 | $1.29B | +9.5% | $280.7M | 21.8% | $82.1M | 6.4% |
| 2015 | $1.18B | +10.2% | $242.3M | 20.6% | $75.9M | 6.4% |
| 2014 | $1.07B | +5.1% | $212.9M | 19.9% | $53.3M | 5.0% |
| 2013 | $1.02B | +0.3% | $188.0M | 18.5% | $57.5M | 5.7% |
| 2012 | $1.01B | - | $195.4M | 19.3% | $95.1M | 9.4% |
Full Stock Analysis
Deep dive into WMS consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
14+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
WMS — Frequently Asked Questions
Quick answers to the most common questions about buying WMS stock.
Is WMS's revenue growth accelerating or slowing?
WMS revenue growth is holding steady at +9.9% year-over-year. TTM revenue is $3.1B. The current growth rate closely tracks the 5-year CAGR of +9.0%, signalling consistent execution.
What is WMS's revenue history from 2012 to 2026?
Advanced Drainage Systems, Inc. (WMS) revenue history spans 2012 to 2026. TTM revenue as of 2026 is $3.1B, growing at +9.9% YoY. The 5-year CAGR is +9.0%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is WMS's long-term revenue growth rate (CAGR)?
Advanced Drainage Systems, Inc.'s 5-year revenue CAGR of +9.0% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +9.9% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for WMS.
Why does WMS's quarterly revenue fluctuate?
WMS quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Advanced Drainage Systems, Inc.'s revenue data from 2012 to 2026 shows full historical quarterly detail on this page.
How is WMS's revenue distributed by segment?
WMS reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does WMS's revenue compare to industry peers?
Advanced Drainage Systems, Inc. (WMS) with TTM revenue of $3.1B and +9.9% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.