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Side-by-side financial comparison of PACS Group, Inc. (PACS) and ADVANCED DRAINAGE SYSTEMS, INC. (WMS). Click either name above to swap in a different company.
PACS Group, Inc. is the larger business by last-quarter revenue ($1.4B vs $693.4M, roughly 2.0× ADVANCED DRAINAGE SYSTEMS, INC.). ADVANCED DRAINAGE SYSTEMS, INC. runs the higher net margin — 13.5% vs 4.4%, a 9.1% gap on every dollar of revenue. On growth, PACS Group, Inc. posted the faster year-over-year revenue change (18.4% vs 0.4%). Over the past eight quarters, PACS Group, Inc.'s revenue compounded faster (20.5% CAGR vs 3.0%).
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...
PACS vs WMS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $693.4M |
| Net Profit | $59.7M | $93.6M |
| Gross Margin | — | 37.4% |
| Operating Margin | 7.0% | 19.7% |
| Net Margin | 4.4% | 13.5% |
| Revenue YoY | 18.4% | 0.4% |
| Net Profit YoY | 3022.5% | 15.3% |
| EPS (diluted) | $0.42 | $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.
| Q4 25 | $1.4B | $693.4M | ||
| Q3 25 | $1.3B | $850.4M | ||
| Q2 25 | $1.3B | $829.9M | ||
| Q1 25 | $1.3B | $615.8M | ||
| Q4 24 | $1.1B | $690.5M | ||
| Q3 24 | $1.0B | $782.6M | ||
| Q2 24 | $981.4M | $815.3M | ||
| Q1 24 | $934.3M | $653.8M |
| Q4 25 | $59.7M | $93.6M | ||
| Q3 25 | $52.4M | $156.0M | ||
| Q2 25 | $51.0M | $143.9M | ||
| Q1 25 | $28.5M | $77.2M | ||
| Q4 24 | $1.9M | $81.2M | ||
| Q3 24 | $15.6M | $130.4M | ||
| Q2 24 | $-10.9M | $161.4M | ||
| Q1 24 | $49.1M | $94.8M |
| Q4 25 | — | 37.4% | ||
| Q3 25 | — | 40.0% | ||
| Q2 25 | — | 39.8% | ||
| Q1 25 | — | 36.7% | ||
| Q4 24 | — | 35.0% | ||
| Q3 24 | 17.1% | 37.6% | ||
| Q2 24 | 22.3% | 40.8% | ||
| Q1 24 | 21.2% | 38.5% |
| Q4 25 | 7.0% | 19.7% | ||
| Q3 25 | 6.4% | 26.3% | ||
| Q2 25 | 6.2% | 24.8% | ||
| Q1 25 | 3.8% | 19.0% | ||
| Q4 24 | 1.7% | 18.4% | ||
| Q3 24 | 2.2% | 23.9% | ||
| Q2 24 | 0.1% | 27.7% | ||
| Q1 24 | 8.6% | 20.7% |
| Q4 25 | 4.4% | 13.5% | ||
| Q3 25 | 3.9% | 18.3% | ||
| Q2 25 | 3.9% | 17.3% | ||
| Q1 25 | 2.2% | 12.5% | ||
| Q4 24 | 0.2% | 11.8% | ||
| Q3 24 | 1.5% | 16.7% | ||
| Q2 24 | -1.1% | 19.8% | ||
| Q1 24 | 5.3% | 14.5% |
| Q4 25 | $0.42 | $1.19 | ||
| Q3 25 | $0.32 | $1.99 | ||
| Q2 25 | $0.31 | $1.84 | ||
| Q1 25 | $0.17 | $0.99 | ||
| Q4 24 | $-0.03 | $1.04 | ||
| Q3 24 | $0.10 | $1.67 | ||
| Q2 24 | $-0.07 | $2.06 | ||
| Q1 24 | $0.38 | $1.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $197.0M | $1.0B |
| Total DebtLower is stronger | $353.2M | — |
| Stockholders' EquityBook value | $946.8M | $1.9B |
| Total Assets | $5.6B | $4.1B |
| Debt / EquityLower = less leverage | 0.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $197.0M | $1.0B | ||
| Q3 25 | $355.7M | $812.9M | ||
| Q2 25 | $294.2M | $638.3M | ||
| Q1 25 | $287.5M | $463.3M | ||
| Q4 24 | $157.7M | $488.9M | ||
| Q3 24 | $49.5M | $613.0M | ||
| Q2 24 | $73.4M | $541.6M | ||
| Q1 24 | $81.2M | $490.2M |
| Q4 25 | $353.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $411.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.3B |
| Q4 25 | $946.8M | $1.9B | ||
| Q3 25 | $871.3M | $1.8B | ||
| Q2 25 | $806.8M | $1.7B | ||
| Q1 25 | $750.2M | $1.5B | ||
| Q4 24 | $709.6M | $1.5B | ||
| Q3 24 | $660.0M | $1.4B | ||
| Q2 24 | $572.1M | $1.3B | ||
| Q1 24 | $128.0M | $1.2B |
| Q4 25 | $5.6B | $4.1B | ||
| Q3 25 | $5.6B | $4.1B | ||
| Q2 25 | $5.5B | $3.9B | ||
| Q1 25 | $5.5B | $3.7B | ||
| Q4 24 | $5.2B | $3.6B | ||
| Q3 24 | $4.5B | $3.5B | ||
| Q2 24 | $3.9B | $3.4B | ||
| Q1 24 | $3.9B | $3.3B |
| Q4 25 | 0.37× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | 0.58× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.11× |
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 | $-3.4M | $269.3M |
| Free Cash FlowOCF − Capex | — | $183.6M |
| FCF MarginFCF / Revenue | — | 26.5% |
| Capex IntensityCapex / Revenue | — | 12.4% |
| Cash ConversionOCF / Net Profit | -0.06× | 2.88× |
| TTM Free Cash FlowTrailing 4 quarters | — | $577.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.4M | $269.3M | ||
| Q3 25 | $204.8M | $234.9M | ||
| Q2 25 | $52.6M | $275.0M | ||
| Q1 25 | $150.2M | $41.2M | ||
| Q4 24 | $64.6M | $189.9M | ||
| Q3 24 | $209.2M | $166.9M | ||
| Q2 24 | $34.8M | $183.4M | ||
| Q1 24 | $58.8M | $17.7M |
| Q4 25 | — | $183.6M | ||
| Q3 25 | — | $176.4M | ||
| Q2 25 | — | $222.4M | ||
| Q1 25 | — | $-5.3M | ||
| Q4 24 | — | $135.7M | ||
| Q3 24 | — | $112.4M | ||
| Q2 24 | — | $125.7M | ||
| Q1 24 | — | $-29.8M |
| Q4 25 | — | 26.5% | ||
| Q3 25 | — | 20.7% | ||
| Q2 25 | — | 26.8% | ||
| Q1 25 | — | -0.9% | ||
| Q4 24 | — | 19.7% | ||
| Q3 24 | — | 14.4% | ||
| Q2 24 | — | 15.4% | ||
| Q1 24 | — | -4.6% |
| Q4 25 | — | 12.4% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 7.6% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | — | 7.0% | ||
| Q2 24 | — | 7.1% | ||
| Q1 24 | — | 7.3% |
| Q4 25 | -0.06× | 2.88× | ||
| Q3 25 | 3.91× | 1.51× | ||
| Q2 25 | 1.03× | 1.91× | ||
| Q1 25 | 5.28× | 0.53× | ||
| Q4 24 | 33.78× | 2.34× | ||
| Q3 24 | 13.39× | 1.28× | ||
| Q2 24 | — | 1.14× | ||
| Q1 24 | 1.20× | 0.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PACS
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% |
