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Side-by-side financial comparison of BELDEN INC. (BDC) and ADVANCED DRAINAGE SYSTEMS, INC. (WMS). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($720.1M vs $693.4M, roughly 1.0× ADVANCED DRAINAGE SYSTEMS, INC.). ADVANCED DRAINAGE SYSTEMS, INC. runs the higher net margin — 13.5% vs 9.4%, a 4.1% gap on every dollar of revenue. On growth, BELDEN INC. posted the faster year-over-year revenue change (8.1% vs 0.4%). ADVANCED DRAINAGE SYSTEMS, INC. produced more free cash flow last quarter ($183.6M vs $121.3M). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (9.2% CAGR vs 3.0%).
Belden Inc. is an American, multinational, publicly traded company specializing in the design, manufacture, and distribution of end-to-end networking, security and connectivity products. The company serves the Industrial Automation Solutions, Smart Buildings and Broadband & 5G markets.
Advanced Drainage Systems, Inc. (ADS) is an American company that designs, manufactures and markets polypropylene and polyethylene pipes, plastic leach field chambers and systems, septic tanks and accessories, storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water filters and water separators. It is the largest maker of high-density polyethylene pipe in the United States. It is headquartered in Hilliard, Ohio. In 2020, 93% of the company's s...
BDC vs WMS — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $720.1M | $693.4M |
| Net Profit | $67.9M | $93.6M |
| Gross Margin | 36.6% | 37.4% |
| Operating Margin | 12.2% | 19.7% |
| Net Margin | 9.4% | 13.5% |
| Revenue YoY | 8.1% | 0.4% |
| Net Profit YoY | 16.3% | 15.3% |
| EPS (diluted) | $1.70 | $1.19 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $720.1M | — | ||
| Q4 25 | $720.1M | $693.4M | ||
| Q3 25 | $698.2M | $850.4M | ||
| Q2 25 | $672.0M | $829.9M | ||
| Q1 25 | $624.9M | $615.8M | ||
| Q4 24 | $666.0M | $690.5M | ||
| Q3 24 | $654.9M | $782.6M | ||
| Q2 24 | $604.3M | $815.3M |
| Q1 26 | $67.9M | — | ||
| Q4 25 | $67.9M | $93.6M | ||
| Q3 25 | $56.7M | $156.0M | ||
| Q2 25 | $61.0M | $143.9M | ||
| Q1 25 | $51.9M | $77.2M | ||
| Q4 24 | $58.4M | $81.2M | ||
| Q3 24 | $53.7M | $130.4M | ||
| Q2 24 | $49.0M | $161.4M |
| Q1 26 | 36.6% | — | ||
| Q4 25 | 36.6% | 37.4% | ||
| Q3 25 | 37.7% | 40.0% | ||
| Q2 25 | 38.5% | 39.8% | ||
| Q1 25 | 39.3% | 36.7% | ||
| Q4 24 | 37.5% | 35.0% | ||
| Q3 24 | 37.3% | 37.6% | ||
| Q2 24 | 37.5% | 40.8% |
| Q1 26 | 12.2% | — | ||
| Q4 25 | 12.2% | 19.7% | ||
| Q3 25 | 10.9% | 26.3% | ||
| Q2 25 | 11.8% | 24.8% | ||
| Q1 25 | 11.6% | 19.0% | ||
| Q4 24 | 10.4% | 18.4% | ||
| Q3 24 | 11.5% | 23.9% | ||
| Q2 24 | 11.4% | 27.7% |
| Q1 26 | 9.4% | — | ||
| Q4 25 | 9.4% | 13.5% | ||
| Q3 25 | 8.1% | 18.3% | ||
| Q2 25 | 9.1% | 17.3% | ||
| Q1 25 | 8.3% | 12.5% | ||
| Q4 24 | 8.8% | 11.8% | ||
| Q3 24 | 8.2% | 16.7% | ||
| Q2 24 | 8.1% | 19.8% |
| Q1 26 | $1.70 | — | ||
| Q4 25 | $1.70 | $1.19 | ||
| Q3 25 | $1.41 | $1.99 | ||
| Q2 25 | $1.53 | $1.84 | ||
| Q1 25 | $1.27 | $0.99 | ||
| Q4 24 | $1.41 | $1.04 | ||
| Q3 24 | $1.30 | $1.67 | ||
| Q2 24 | $1.19 | $2.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $389.9M | $1.0B |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $1.3B | $1.9B |
| Total Assets | — | $4.1B |
| Debt / EquityLower = less leverage | 1.02× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $389.9M | — | ||
| Q4 25 | $389.9M | $1.0B | ||
| Q3 25 | $314.3M | $812.9M | ||
| Q2 25 | $301.5M | $638.3M | ||
| Q1 25 | $259.0M | $463.3M | ||
| Q4 24 | $370.3M | $488.9M | ||
| Q3 24 | $323.0M | $613.0M | ||
| Q2 24 | $564.8M | $541.6M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $1.9B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $1.2B | $1.4B | ||
| Q2 24 | $1.2B | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $4.1B | ||
| Q3 25 | $3.4B | $4.1B | ||
| Q2 25 | $3.4B | $3.9B | ||
| Q1 25 | $3.3B | $3.7B | ||
| Q4 24 | $3.3B | $3.6B | ||
| Q3 24 | $3.3B | $3.5B | ||
| Q2 24 | $3.5B | $3.4B |
| Q1 26 | 1.02× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $354.9M | $269.3M |
| Free Cash FlowOCF − Capex | $121.3M | $183.6M |
| FCF MarginFCF / Revenue | 16.8% | 26.5% |
| Capex IntensityCapex / Revenue | 18.9% | 12.4% |
| Cash ConversionOCF / Net Profit | 5.23× | 2.88× |
| TTM Free Cash FlowTrailing 4 quarters | $364.7M | $577.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $354.9M | — | ||
| Q4 25 | $160.4M | $269.3M | ||
| Q3 25 | $105.0M | $234.9M | ||
| Q2 25 | $82.0M | $275.0M | ||
| Q1 25 | $7.4M | $41.2M | ||
| Q4 24 | $174.7M | $189.9M | ||
| Q3 24 | $91.7M | $166.9M | ||
| Q2 24 | $83.0M | $183.4M |
| Q1 26 | $121.3M | — | ||
| Q4 25 | $121.3M | $183.6M | ||
| Q3 25 | $65.3M | $176.4M | ||
| Q2 25 | $56.9M | $222.4M | ||
| Q1 25 | $-24.8M | $-5.3M | ||
| Q4 24 | $116.4M | $135.7M | ||
| Q3 24 | $67.2M | $112.4M | ||
| Q2 24 | $61.0M | $125.7M |
| Q1 26 | 16.8% | — | ||
| Q4 25 | 16.8% | 26.5% | ||
| Q3 25 | 9.4% | 20.7% | ||
| Q2 25 | 8.5% | 26.8% | ||
| Q1 25 | -4.0% | -0.9% | ||
| Q4 24 | 17.5% | 19.7% | ||
| Q3 24 | 10.3% | 14.4% | ||
| Q2 24 | 10.1% | 15.4% |
| Q1 26 | 18.9% | — | ||
| Q4 25 | 5.4% | 12.4% | ||
| Q3 25 | 5.7% | 6.9% | ||
| Q2 25 | 3.7% | 6.3% | ||
| Q1 25 | 5.2% | 7.6% | ||
| Q4 24 | 8.8% | 7.9% | ||
| Q3 24 | 3.7% | 7.0% | ||
| Q2 24 | 3.6% | 7.1% |
| Q1 26 | 5.23× | — | ||
| Q4 25 | 2.36× | 2.88× | ||
| Q3 25 | 1.85× | 1.51× | ||
| Q2 25 | 1.34× | 1.91× | ||
| Q1 25 | 0.14× | 0.53× | ||
| Q4 24 | 2.99× | 2.34× | ||
| Q3 24 | 1.71× | 1.28× | ||
| Q2 24 | 1.69× | 1.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
Segment breakdown not available.
WMS
| Reportable Segment Aggregation Before Other Operating Segment | $557.3M | 80% |
| Other | $85.5M | 12% |
| Pipe | $35.5M | 5% |
| Allied Products And Other | $15.0M | 2% |
