Advanced Drainage Systems (WMS) Operating Expenses (2013 - 2026)
Advanced Drainage Systems' (WMS) quarterly Operating Expenses came in at $108.7 million in Q4 2025, up 7.9% YoY from $100.8 million in Q4 2024, and down 8.79% on a QoQ basis from $119.2 million in Q3 2025.
Advanced Drainage Systems (WMS) Operating Expenses (2013 - 2026) Analysis & Trends
Advanced Drainage Systems (WMS) has 13 years of Operating Expenses data on file, last reported at $108.7 million in Q4 2025.
- Quarterly Operating Expenses rose 7.9% year-over-year to $108.7 million in Q4 2025, while the trailing twelve-month figure through Mar 2026 was $331.9 million (up 14.87% YoY) and the FY2021 annual result came in at $269.5 million, down 30.63% from the prior year.
- Operating Expenses eased to $108.7 million in Q4 2025, from $119.2 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $162.8 million in Q1 2021 to a low of $74.0 million in Q3 2021.
- A 5-year average of $101.3 million and a median of $92.9 million in 2023 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2021 — Operating Expenses surged 67.45% — and 2022, when it plunged 43.24%.
- Tracing WMS's Operating Expenses over 5 years: stood at $80.1 million in 2021, then increased by 7.34% to $85.9 million in 2022, then grew by 6.23% to $91.3 million in 2023, then rose by 10.39% to $100.8 million in 2024, then gained by 7.9% to $108.7 million in 2025.
- The last three Operating Expenses figures came in at $108.7 million (Q4 2025), $119.2 million (Q3 2025), and $104.0 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 100.21 Bn | 98.89 Bn | 2.26 Bn | 1.04 Bn |
| 2 | Johnson Controls International | 87.02 Bn | 86.38 Bn | 2.47 Bn | 1.49 Bn |
| 3 | Carrier Global | 50.08 Bn | 48.73 Bn | 1.94 Bn | 5.58 Bn |
| 4 | Carlisle Companies | 14.80 Bn | 14.14 Bn | 568.40 Mn | 210.70 Mn |
| 5 | Masco | 14.60 Bn | 14.06 Bn | 868.00 Mn | 397.00 Mn |
| 6 | Lennox International | 13.99 Bn | 13.94 Bn | 539.50 Mn | 183.10 Mn |
| 7 | Owens Corning | 11.96 Bn | 11.69 Bn | 793.00 Mn | 311.00 Mn |
| 8 | Advanced Drainage Systems | 11.02 Bn | 10.86 Bn | 408.05 Mn | 130.82 Mn |
| 9 | SPX Technologies | 10.33 Bn | 10.16 Bn | 272.80 Mn | 15.80 Mn |
| 10 | Armstrong World Industries | 7.60 Bn | 7.52 Bn | 195.00 Mn | 93.70 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 130.82 Mn |
| Dec 31, 2025 | 108.74 Mn |
| Sep 30, 2025 | 119.22 Mn |
| Jun 30, 2025 | 103.96 Mn |
| Dec 31, 2024 | 100.78 Mn |
| Sep 30, 2024 | 94.13 Mn |
| Jun 30, 2024 | 94.05 Mn |
| Dec 31, 2023 | 91.29 Mn |
| Sep 30, 2023 | 91.73 Mn |
| Jun 30, 2023 | 86.51 Mn |
| Dec 31, 2022 | 85.94 Mn |
| Sep 30, 2022 | 88.64 Mn |
| Jun 30, 2022 | 86.52 Mn |
| Dec 31, 2021 | 80.06 Mn |
| Sep 30, 2021 | 73.95 Mn |
| Jun 30, 2021 | 152.44 Mn |
| Mar 31, 2021 | 162.75 Mn |
| Dec 31, 2020 | 102.98 Mn |
| Sep 30, 2020 | 101.31 Mn |
| Jun 30, 2020 | 91.04 Mn |