MasterBrand vs Advanced Drainage Systems
Advanced Drainage Systems reported revenue of $3.1 billion in fiscal 2026, about the same as MasterBrand's $2.7 billion in fiscal 2025. MasterBrand's revenue grew 1.3% in its latest year, and Advanced Drainage Systems' grew 5.0%. MasterBrand had an operating margin of 4.3%, against 20.3% at Advanced Drainage Systems. Free cash flow was $118 million at MasterBrand and $569 million at Advanced Drainage Systems. Their fiscal years end in different months (December 28 and March 31), so the periods don't line up exactly.
Side by side
| MasterBrand | Advanced Drainage Systems | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 28, 2025 | FY2026, Mar 31, 2026 |
| Revenue | $2.7B | $3.1B |
| Revenue growth | 1.3% | 5.0% |
| Revenue growth a year, last 5 years | — | 9.0% |
| Gross margin | 30.3% | 38.3% |
| Operating margin | 4.3% | 20.3% |
| Net margin | 1.0% | 14.0% |
| Free cash flow | $118M | $569M |
| Free cash flow margin | 4.3% | 18.7% |
| Return on capital | 3.2% | 15.8% |
| Net debt to EBITDA | 3.7x | 1.9x |
| Dividends and buybacks | $18M | $148M |
| Change in diluted share count | −1.3% | 0.2% |
| Last close | $6.72 | $124.31 |
| P/E at the last close | — | 23.6× |
| Insider trades, last 12 months | bought $696,347, sold $853,809 | sold $14.8 million |
| Piotroski F-score | 6 of 9 | 4 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
MasterBrandAdvanced Drainage Systems
Operating margin
Percent of revenue
MasterBrandAdvanced Drainage Systems
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
MasterBrandAdvanced Drainage Systems
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the MasterBrand and Advanced Drainage Systems pages.