Advanced Drainage Systems, Inc. (WMS)

Advanced Drainage Systems, Inc. (WMS) is the leading provider of specialized water management solutions, primarily manufacturing high-performance thermoplastic corrugated pipe. Led by CEO Scott Barbour, the company’s mission is to "Protect the worlds most precious resource" by redefining how stormwater and wastewater are managed. WMS holds a dominant industry position, possessing a North American footprint that is 3x larger than its closest competitor. By late 2025, the company has successfully executed its "Material Conversion" strategy—replacing heavy, carbon-intensive concrete and steel pipes with recycled plastic—making WMS stock the premier play on the "Circular Economy" and the "Green Infrastructure" cycle. Its vision is to be the global leader in sustainable water management.

The business operations of Advanced Drainage Systems are concentrated in its Pipe, Infiltrator, and Allied Products segments. The core growth driver in 2025 was the "Public Infrastructure Outperformance," where its pipe sales for highway and airport projects grew by 19% due to federal IIJA funding. The 2026 strategic roadmap focuses on "The Advanced Treatment Pivot," aiming to scale its "Infiltrator" onsite wastewater systems into the suburban development market. By utilizing its "Recycling Moat"—WMS is the largest plastic recycler in North America, using over 600 million pounds of recycled HDPE annually—the company significantly reduces its raw material costs while appealing to ESG-conscious municipal buyers. This "Vertical Supply Chain" is a primary driver for the WMS stock price. The company’s move into "Water Quality Units"—devices that filter microplastics and pollutants from stormwater—has also captured a significant share of the urban regulatory market, providing a high-margin revenue stream for WMS stock investors.

Environmental and industrial analysts monitor WMS stock for its "Plastic-to-Concrete Conversion Rate" and its "Adjusted EBITDA Margin." Advanced Drainage Systems, Inc. stock is listed on the New York Stock Exchange under the ticker symbol WMS. The WMS stock price is frequently influenced by HDPE resin prices, U.S. housing starts, and federal environmental mandates like the "Clean Water Act." Analysts highlight WMS’s "Scale Moat"—its ability to deliver massive volumes of lightweight pipe to construction sites faster and cheaper than concrete—as its greatest barrier to entry. By December 2025, the company has solidified its reputation as the highest-margin player in the drainage space, positioning WMS stock as a high-growth, high-sustainability industrial asset. Those following the WMS stock price look for updates on their 2026 expansion into the "Agriculture Precision Drainage" market.