ADVANCED DRAINAGE SYSTEMS, INC.

Advanced Drainage Systems, Inc.

Overview

Advanced Drainage Systems (ADS) manufactures water management solutions for stormwater and onsite wastewater (decentralized wastewater) applications. The company designs, manufactures, and markets a broad line of thermoplastic corrugated pipe and related water management products that address capture, conveyance, storage, and treatment. ADS serves residential, non-residential, infrastructure, and agricultural end markets through a domestic and international manufacturing and distribution platform.

Corporate actions and structure

• February 2, 2026: Completed acquisition of National Diversified Sales (NDS), a residential stormwater and drainage solutions designer and manufacturer.
• October 2024: Acquired Orenco Systems and added it to the Wastewater segment.
• In 2026 ADS realigned reportable segments into Stormwater and Wastewater (formerly Infiltrator) and shifted its profitability metric to Adjusted EBITDA.
• NDS expands ADS’s residential water management product offerings, including access boxes and irrigation components.

Segment mix (2026)

• Stormwater: 78.6% of net sales.
• Wastewater: 21.4% of net sales.
• The ten largest customers generated approximately 50% of net sales in fiscal 2026.
• Following the NDS integration, ADS provides a combined set of stormwater and onsite wastewater products and solutions.

Product portfolio

• Stormwater and wastewater piping: N-12 dual-wall HDPE, HP Storm, SaniTite HP, single-wall corrugated pipe, ADS-3000 Triple Wall and Smoothwall HDPE.
• Allied products and structures: Storm retention/detention products, StormChambers, Nyloplast PVC drainage structures, fittings, Water Quality products, geotextiles, Inserta Tee.
• Stormwater ecosystem (from NDS): channel drains, catch basins, access boxes, grates, and accessories.
• Onsite wastewater and decentralized systems: leachfield products (Quick4, Quick5, ARC), EZflow synthetic aggregate bundles, combined treatment and dispersal products (AES, ES, ATL, AeroFin), Infiltrator tanks (IM-Series, CM-Series), residential and commercial advanced treatment products (ECOPOD, ENVIRO-AIRE, Whitewater, Advantex AX-20/AX-RT, AX-100/AX-MAX), Orenco controls and composites.
• Other materials and services: geosynthetics, Inserta Tee, and accessories that complement pipe and chamber systems.
• Raw materials and sustainability: uses virgin HDPE and PP resins and recycled resin streams; operates ADS Recycling and processes recycled material to support production.

Manufacturing and distribution footprint

• 64 manufacturing plants (45 owned, 19 leased) and 41 distribution centers (4 owned, 37 leased).
• International presence includes manufacturing in Canada, joint ventures in Mexico, Central America, and South America, and wholly owned subsidiaries distributing in Europe and the Middle East.
• In-house fleet: approximately 600 tractors and 1,100 trailers.
• Corporate facilities: ~110,000 sq ft corporate HQ in Hilliard, OH (owned via joint venture) and an ADS Engineering and Technology Center (~110,000 sq ft) opened 2024–2026.
• Distribution reach: roughly a 250-mile shipping radius with a target for sub-three-day lead times; equipment and product packaging are designed to optimize shipment efficiency.

Customers and channels

• Approximately 16,000 active customers.
• Major customers (2026): Ferguson Enterprises (13.1% of net sales) and Core & Main (12.8% of net sales).
• Sales channels include distributors, national retailers, and DIY outlets, supported by a broad national footprint and local presence.

Workforce

• Total employees: 6,425 (as of March 31, 2026)
  • United States: 5,785
  • Canada: 365
  • Other: 275
  • Hourly: 4,035; Salaried: 2,390
• About 100 hourly personnel in the Mexican joint venture were covered by collective bargaining agreements as of March 31, 2026.
• ADS emphasizes training through ADS Academy and maintains programs focused on safety, ethics, and continuous improvement.

Corporate information

• Headquarters: 4024 Green Stripe Lane, Hilliard, OH 43026.
• Website: www.adspipe.com.
• The company reports on governance, risk management (including cybersecurity), and environmental, health and safety policies within its Form 10-K, along with data on its manufacturing footprint and ongoing capital projects.

Financial and ownership highlights

• Stormwater represented 78.6% of net sales and Wastewater 21.4% in 2026.
• The ten largest customers generated about 50% of net sales in fiscal 2026.
• Shares outstanding: approximately 76.6 million (as of May 14, 2026).
• Insiders, directors, and principal stockholders hold a substantial stake (roughly 16% of outstanding shares; about 22% including KSOP-related voting power).

Notes

• Figures reflect fiscal year 2026 data and events through March 31, 2026, as reported in the company’s Form 10-K.