ADVANCED DRAINAGE SYSTEMS, INC.
For the period ended Dec 31, 2025. Filed Feb 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2025 · Filed Feb 5, 2026
WMS$128.75-1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements (Unaudited)
ITEM 1. FINANCIAL STATEMENTS
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited) (In thousands, except par value)
| December 31, 2025 | March 31, 2025 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash | $1,008,190 | $463,319 |
| Receivables (less allowance for doubtful accounts of $7,954 and $7,684, respectively) | 237,594 | 333,221 |
| Inventories | 431,245 | 488,269 |
| Other current assets | 28,065 | 39,974 |
| Total current assets | 1,705,094 | 1,324,783 |
| Property, plant and equipment, net | 1,153,550 | 1,051,040 |
| Other assets: | ||
| Goodwill | 725,200 | 720,223 |
| Intangible assets, net | 410,286 | 448,060 |
| Other assets | 150,181 | 146,254 |
| Total assets | $4,144,311 | $3,690,360 |
| LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Current maturities of debt obligations | $6,458 | $9,934 |
| Current maturities of finance lease obligations | 36,664 | 33,143 |
| Accounts payable | 168,884 | 218,024 |
| Other accrued liabilities | 193,865 | 137,295 |
| Accrued income taxes | 7,506 | — |
| Total current liabilities | 413,377 | 398,396 |
| Long-term debt obligations (less unamortized debt issuance costs of $6,415 and $7,715, respectively) | 1,275,701 | 1,251,589 |
| Long-term finance lease obligations | 126,847 | 131,000 |
| Deferred tax liabilities | 216,786 | 190,416 |
| Other liabilities | 82,583 | 83,171 |
| Total liabilities | 2,115,294 | 2,054,572 |
| Commitments and contingencies (see Note 10) | ||
| Mezzanine equity: | ||
| Redeemable common stock: $0.01 par value; 4,816 and 5,702 shares outstanding, respectively | 78,252 | 92,652 |
| Total mezzanine equity | 78,252 | 92,652 |
| Stockholders’ equity: | ||
| Common stock; $0.01 par value: 1,000,000 shares authorized; 85,004 and 83,750 shares issued, respectively; 73,060 and 71,864 shares outstanding, respectively | 11,707 | 11,694 |
| Paid-in capital | 1,329,164 | 1,277,694 |
| Common stock in treasury, at cost | (1,226,454) | (1,219,408) |
| Accumulated other comprehensive loss | (30,197) | (37,178) |
| Retained earnings | 1,844,101 | 1,492,634 |
| Total ADS stockholders’ equity | 1,928,321 | 1,525,436 |
| Noncontrolling interest in subsidiaries | 22,444 | 17,700 |
| Total stockholders’ equity | 1,950,765 | 1,543,136 |
| Total liabilities, mezzanine equity and stockholders’ equity | $4,144,311 | $3,690,360 |
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