Advanced Drainage Systems (WMS) Gross Margin (2013 - 2026)
Advanced Drainage Systems posted quarterly Gross Margin of 35.12% for Q1 2026, down 163.0% year-on-year from 55.74% in Q1 2025, and down 6.04% on a QoQ basis from 37.38% in Q4 2025.
Advanced Drainage Systems (WMS) has 14 years of Gross Margin data on file, last reported at 35.12% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 163.0% year-over-year to 35.12%; the trailing twelve-month figure through Mar 2026 stood at 38.27% (up 59.0% YoY), and the FY2026 full-year result was 38.27%, up 59.0% from the prior year.
- Gross Margin for Q1 2026 stood at 35.12%, down from 37.38% in the prior quarter.
- Across five years, Gross Margin topped out at 42.6% in Q2 2023 and bottomed at 28.05% in Q1 2022.
- The 5-year median for Gross Margin is 37.56% (2024), against an average of 37.32%.
- The widest annual swing landed in 2022, when Gross Margin surged 847 bps; it then slumped 424 bps in 2024.
- A 5-year view of Gross Margin shows it stood at 34.18% in 2022, then increased by 15 bps to 39.23% in 2023, then declined by 11 bps to 34.99% in 2024, then advanced by 7 bps to 37.38% in 2025, then slipped 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.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 99.95 Bn | 98.89 Bn | 1.73 Bn | 34.77% |
| 2 | Johnson Controls International | 84.54 Bn | 84.01 Bn | 2.07 Bn | 35.78% |
| 3 | Carrier Global | 52.72 Bn | 51.70 Bn | 4.82 Bn | 90.17% |
| 4 | Lennox International | 16.87 Bn | 16.82 Bn | 351.30 Mn | 30.95% |
| 5 | Masco | 13.72 Bn | 13.60 Bn | 686.00 Mn | 35.77% |
| 6 | Carlisle Companies | 13.62 Bn | 12.85 Bn | 363.20 Mn | 34.52% |
| 7 | Aaon | 10.97 Bn | 10.97 Bn | 109.77 Mn | 25.88% |
| 8 | SPX Technologies | 10.37 Bn | 10.22 Bn | 230.60 Mn | 40.68% |
| 9 | Advanced Drainage Systems | 10.34 Bn | 10.19 Bn | 237.66 Mn | 35.12% |
| 10 | Owens Corning | 9.48 Bn | 9.24 Bn | 510.00 Mn | 22.52% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 30.05% |
| Mar 31, 2021 | 28.66% |
| Dec 31, 2020 | 34.66% |
| Sep 30, 2020 | 37.83% |
| Jun 30, 2020 | 37.06% |
| Mar 31, 2020 | 29.33% |
| Dec 31, 2019 | 31.35% |
| Sep 30, 2019 | 29.55% |
| Jun 30, 2019 | -15.02% |
| Mar 31, 2019 | 21.86% |
| Dec 31, 2018 | 22.76% |
| Sep 30, 2018 | 23.46% |
| Jun 30, 2018 | 25.70% |
| Mar 31, 2018 | 19.24% |
| Dec 31, 2017 | 24.26% |
| Sep 30, 2017 | 22.39% |
| Jun 30, 2017 | 24.20% |
| Mar 31, 2017 | 16.07% |
| Dec 31, 2016 | 23.56% |
| Sep 30, 2016 | 25.09% |
| Jun 30, 2016 | 27.02% |
| Mar 31, 2016 | 20.17% |
| Dec 31, 2015 | 23.92% |
| Sep 30, 2015 | 22.57% |
| Jun 30, 2015 | 21.33% |
| Mar 31, 2015 | 11.78% |
| Dec 31, 2014 | 17.61% |
| Sep 30, 2014 | 19.13% |
| Jun 30, 2014 | 18.78% |
| Mar 31, 2014 | 6.98% |
| Dec 31, 2013 | 22.77% |
| Sep 30, 2013 | 19.71% |
| Jun 30, 2013 | 19.26% |