ADVANCED DRAINAGE SYSTEMS, INC. (WMS)

Plastics Foam Products

Latest Price

$127.21

TTM P/E

Normalized P/E

21.55

Div Yield

0.44%

Book Value

23.41

P/B Ratio

5.43

Valuation metrics

EPS: $5.44

Book value / share: $25.58

Formula: √(22.5 × EPS × BVPS)

Graham Number

$55.96

56% downside

Norm. op. income: $619M (median of 7yr)

Tax rate: 24%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$45.38

64% downside

Base FCF: $534M (median of recent 5yr)

Growth: 12%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$189.47

+49% upside

EPS: $5.44

Target P/E: 22×

Formula: EPS × P/E

P/E Fair Value

$119.68

6% downside

96.3% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	7.47M	$1.17B	10.47%	+47.2K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	3.71M	$581.0M	5.20%	+89.9K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	3.40M	$533.0M	4.76%	-26.7K	2026-06-30
STATE STREET CORP	2.69M	$422.0M	3.78%	+204.1K	2026-06-30
FIRST TRUST ADVISORS LP	2.66M	$417.0M	3.73%	+616.7K	2026-06-30
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	2.35M	$368.0M	3.29%	-103.5K	2026-06-30
Impax Asset Management Group plc	1.85M	$289.0M	2.59%	-81.6K	2026-06-30
BAILLIE GIFFORD & CO	1.84M	$288.0M	2.57%	-212.1K	2026-06-30
AMERICAN CENTURY COMPANIES INC	1.63M	$256.0M	2.29%	-23.5K	2026-06-30
MORGAN STANLEY	1.39M	$218.0M	1.95%	+60.5K	2026-06-30