Business Description

Advanced Drainage Systems, Inc. is a leading manufacturer of thermoplastic corrugated pipe and related water management products. Headquartered in Hilliard, Ohio, the company provides stormwater and onsite wastewater solutions for commercial, residential, infrastructure, and agricultural applications. It is notable for being the largest maker of high-density polyethylene pipe in the United States and heavily utilizing recycled plastics in its manufacturing processes.

Everything on Advanced Drainage Systems, Inc.

Revenue (FY2026) $3.05B
YoY growth +5.0%
Operating margin 20.3%
Direction Expanding
Gross margin 38.3%
Net margin 14.0%

Earnings Transcripts

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Leadership & board

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D. Scott Barbour — Director, President and Chief Executive Officer View full profile ↗ Robert M. Eversole — Board Chair and Lead Independent Director View full profile ↗ Anesa T. Chaibi — Independent Director View full profile ↗ Michael B. Coleman — Independent Director View full profile ↗ Alexander R. Fischer — Independent Director View full profile ↗ Tanya D. Fratto — Independent Director View full profile ↗ Kelly S. Gast — Independent Director View full profile ↗ Manuel Perez de la Mesa — Independent Director View full profile ↗ Anil Seetharam — Independent Director View full profile ↗ Scott A. Cottrill — Executive Vice President, Chief Financial Officer and Secretary View full profile ↗ Kevin C. Talley — Executive Vice President and Chief Administrative Officer View full profile ↗ Craig J. Taylor — Executive Vice President, Infiltrator Water Technologies View full profile ↗ Thomas J. Waun, Sr. — Former Executive Vice President, Engineering and International View full profile ↗ Patrick M. Coyle — Executive Vice President, Supply Chain View full profile ↗ Bret Martz — Executive Vice President, Sales View full profile ↗ Brian W. King — Executive Vice President, Product Management and Marketing View full profile ↗
Advanced Drainage Systems, acquires Infiltrator Water Technologies (Infiltrator Water Technologies Ultimate Holdings, Inc.) — Infiltrator / Onsite wastewater (septic) · 2019 View full deal ↗ Advanced Drainage Systems, acquires National Diversified Sales (NDS) — water-management business of NORMA Group SE — Stormwater / Allied Products · 2026 View full deal ↗ Advanced Drainage Systems, acquires Orenco Systems, Inc. — Infiltrator / Onsite wastewater (later Wastewater segment) · 2024 View full deal ↗ Advanced Drainage Systems, acquires Ideal Pipe (Ideal Drain Tile Limited and Wave Plastics Inc.) — International (Canada) · 2015 View full deal ↗ Advanced Drainage Systems, acquires Jet Polymer Recycling, Inc. (with The Traylor Group, Inc. and certain assets of EAT Properties, L.L.C.) — Allied Products & Other (plastics recycling) · 2021 View full deal ↗ Advanced Drainage Systems, acquires Cultec, Inc. — Allied Products & Other (stormwater and septic chambers) · 2022 View full deal ↗ Advanced Drainage Systems, acquires River Valley Pipe, LLC (assets) — Stormwater · 2025 View full deal ↗ Advanced Drainage Systems, acquires BaySaver joint venture (additional 10% interest, from BaySaver Technologies, Inc.) — Stormwater (water-quality treatment) · 2015 View full deal ↗

Share Repurchase Program

Total authorized
$1.0 billion
Remaining (Fiscal year ended March 31, 2026)
$1,049,043 thousand (approximately $1.05 billion) as of March 31, 2026
Latest FY repurchased
$98.7 million (0.7 million shares) during fiscal 2026

Customer Concentration

The Company has a large, active customer base of approximately 16,000 customers, with two customers, Ferguson and Core & Main, each representing more than 10% of annual net sales; in aggregate these two customers accounted for 25.8%, 27.0%, and 25.8% of fiscal 2026, 2025, and 2024 net sales, respectively. The Company's ten largest customers generated approximately 50% of net sales in fiscal 2026.

Recent SEC Filings

2026-08-06 Reported quarterly results (+2 more) View filing ↗
2026-07-16 Shareholder vote results View filing ↗
2026-06-18 Regulation FD disclosure View filing ↗
2026-05-21 Regulation FD disclosure View filing ↗
2026-05-21 Reported quarterly results (+2 more) View filing ↗
2026-02-27 Entered a material agreement (+2 more) View filing ↗
2026-02-12 Regulation FD disclosure View filing ↗
2026-02-12 Regulation FD disclosure View filing ↗
2026-02-05 Reported quarterly results (+2 more) View filing ↗
2026-02-02 Completed an acquisition or disposition (+1 more) View filing ↗
2025-11-06 Reported quarterly results (+2 more) View filing ↗
2025-09-23 Entered a material agreement (+1 more) View filing ↗

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