Advanced Drainage Systems (WMS) Gross Margin (2013 - 2026)
Advanced Drainage Systems' (WMS) quarterly Gross Margin came in at 35.12% in Q1 2026, down 163.0% YoY from 55.74% in Q1 2025, and down 6.04% on a QoQ basis from 37.38% in Q4 2025.
Advanced Drainage Systems (WMS) Gross Margin (2013 - 2026) Analysis & Trends
Advanced Drainage Systems (WMS) has 14 years of Gross Margin data on file, last reported at 35.12% in Q1 2026.
- Quarterly Gross Margin fell 163.0% year-over-year to 35.12% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 38.27% (up 59.0% YoY) and the FY2026 annual result came in at 38.27%, up 59.0% from the prior year.
- Gross Margin slipped to 35.12% in Q1 2026, from 37.38% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 42.6% in Q2 2023 to a low of 28.05% in Q1 2022.
- A 5-year average of 37.32% and a median of 37.56% in 2024 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin surged 847 bps — and 2024, when it plunged 424 bps.
- Tracing WMS's Gross Margin over 5 years: stood at 34.18% in 2022, then grew by 15 bps to 39.23% in 2023, then dropped by 11 bps to 34.99% in 2024, then gained by 7 bps to 37.38% in 2025, then decreased by 6 bps to 35.12% in 2026.
- The last three Gross Margin figures came in at 35.12% (Q1 2026), 37.38% (Q4 2025), and 40.0% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 99.71 Bn | 98.39 Bn | 2.26 Bn | 35.57% |
| 2 | Johnson Controls International | 87.29 Bn | 86.65 Bn | 2.47 Bn | 37.41% |
| 3 | Carrier Global | 49.78 Bn | 48.43 Bn | 1.94 Bn | 30.59% |
| 4 | Masco | 14.62 Bn | 14.07 Bn | 868.00 Mn | 43.57% |
| 5 | Carlisle Companies | 14.41 Bn | 13.74 Bn | 568.40 Mn | 36.20% |
| 6 | Lennox International | 14.06 Bn | 14.01 Bn | 539.50 Mn | 34.91% |
| 7 | Owens Corning | 11.84 Bn | 11.57 Bn | 793.00 Mn | 28.77% |
| 8 | Advanced Drainage Systems | 10.91 Bn | 10.75 Bn | 408.05 Mn | 40.76% |
| 9 | SPX Technologies | 10.27 Bn | 10.10 Bn | 272.80 Mn | 40.18% |
| 10 | Armstrong World Industries | 7.58 Bn | 7.50 Bn | 195.00 Mn | 41.31% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 40.76% |
| Mar 31, 2026 | 35.12% |
| Dec 31, 2025 | 37.38% |
| Sep 30, 2025 | 40.00% |
| Jun 30, 2025 | 39.82% |
| Mar 31, 2025 | 36.74% |
| Dec 31, 2024 | 34.99% |
| Sep 30, 2024 | 37.56% |
| Jun 30, 2024 | 40.78% |
| Mar 31, 2024 | 38.54% |
| Dec 31, 2023 | 39.23% |
| Sep 30, 2023 | 38.79% |
| Jun 30, 2023 | 42.60% |
| Mar 31, 2023 | 36.02% |
| Dec 31, 2022 | 34.18% |
| Sep 30, 2022 | 36.19% |
| Jun 30, 2022 | 38.52% |
| Mar 31, 2022 | 28.05% |
| Dec 31, 2021 | 29.21% |
| Sep 30, 2021 | 28.32% |