A Business at a Glance
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EPLUS INC
PLUS
$2.3B
Mkt Cap
$89.02
+2.52%
EPLUS INC (PLUS) has a current P/E ratio of 17.7, compared to its historical median P/E of 18.0. The stock is currently considered Fair based on its historical valuation range.
EPLUS INC (PLUS) has a 5-year average return on invested capital (ROIC) of 19.7%. This indicates strong capital allocation and a potential competitive advantage.
EPLUS INC (PLUS) has a market capitalization of $2.3B. It is classified as a mid-cap stock.
Yes, EPLUS INC (PLUS) pays a dividend with a trailing twelve-month yield of 0.84%. The company also returns capital through share buybacks, with a buyback yield of 1.30%.
Based on historical P/E analysis, EPLUS INC (PLUS) appears fair. The current P/E of 17.7 is 2% below its historical median of 18.0. The estimated fair value CAGR (P/E method) is 12.2%.
EPLUS INC (PLUS) operates in the Wholesale-Computers & Peripheral Equipment & Software industry, within the Consumer Cyclical sector.
EPLUS INC (PLUS) reported annual revenue of $2.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
OUR BUSINESS ePlus inc., sometimes referred to in this Annual Report on Form 10-K as “we,” “our,” “us,” “ourselves,” or “ePlus,” has been delivering solutions for our customers since 1990. We conduct our operations through two businesses. Our technology business, consisting of our product, professional services, and managed services segments, provides technology solutions. Our technology solutions leverage third-party hardware, software, maintenance and other services with our own advanced professional and managed services. Our financing business segment primarily provides financing of IT equipment, software, and related services. Across both businesses, we sell to commercial entities, state and local governments, government contractors, and educational institutions.
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 2.4B | 2.4B | 2.0B | 2.2B | 2.1B | 1.8B |
| Net Income | 133M | 133M | 105M | 118M | 119M | 106M |
| EPS | $5.03 | $5.03 | $3.93 | $4.41 | $4.48 | $3.93 |
| Free Cash Flow | -121M | -121M | 290M | 232M | -26M | -44M |
| ROIC | 18.4% | 23.7% | 14.2% | 16.6% | 20.8% | 23.0% |
| Gross Margin | 25.2% | 25.2% | 25.6% | 23.5% | 25.0% | 25.3% |
| Debt/Equity | 0.00 | 0.68 | 0.07 | 0.03 | 0.82 | 0.77 |
| Dividends/Share | $0.75 | $0.75 | $0.00 | $0.00 | - | - |
| Operating Income | 166M | 166M | 100M | 134M | 166M | 147M |
| Operating Margin | 6.8% | 6.8% | 5.0% | 6.1% | 8.0% | 8.1% |
| ROE | 12.4% | 13.0% | 11.2% | 14.1% | 16.6% | 17.3% |
| Shares Outstanding | 26M | 26M | 27M | 27M | 27M | 27M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.1B | 1.2B | 1.3B | 1.4B | 1.4B | 1.6B | 1.6B | 1.8B | 2.1B | 2.2B | 2.0B | 2.4B | 2.4B |
| Gross Margin | 21.4% | 21.8% | 22.5% | 22.8% | 24.1% | 24.6% | 25.1% | 25.3% | 25.0% | 23.5% | 25.6% | 25.2% | 25.2% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 167M | 179M | 205M | 228M | 237M | 279M | 271M | 297M | 334M | 356M | 387M | 423M | 423M |
| EBIT | 71M | 76M | 86M | 84M | 80M | 95M | 106M | 147M | 166M | 134M | 100M | 166M | 166M |
| Op. Margin | 6.2% | 6.3% | 6.4% | 5.9% | 5.8% | 6.0% | 6.8% | 8.1% | 8.0% | 6.1% | 5.0% | 6.8% | 6.8% |
| Net Income | 46M | 45M | 51M | 55M | 63M | 69M | 74M | 106M | 119M | 118M | 105M | 133M | 133M |
| Net Margin | 4.0% | 3.7% | 3.8% | 3.9% | 4.6% | 4.3% | 4.7% | 5.8% | 5.8% | 5.4% | 5.2% | 5.4% | 5.4% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -192K | -283K | -121K | -121K |
| Returns on Capital | |||||||||||||
| ROIC | 23.3% | 23.4% | 25.1% | 25.7% | 19.5% | 18.4% | 18.8% | 23.0% | 20.8% | 16.6% | 14.2% | 23.7% | 18.4% |
| ROE | 16.8% | 15.0% | 15.2% | 15.3% | 15.9% | 15.2% | 14.2% | 17.3% | 16.6% | 14.1% | 11.2% | 13.0% | 12.4% |
| ROA | 8.2% | 7.6% | 7.4% | 7.4% | 8.2% | 8.1% | 7.5% | 9.4% | 9.2% | 7.7% | 5.9% | 7.2% | 7.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 14M | 14M | 33M | 83M | 39M | -74M | 130M | -21M | -15M | 248M | 302M | -116M | -116M |
| Free Cash Flow | 2.2M | -11M | 21M | 75M | 26M | -82M | 118M | -44M | -26M | 232M | 290M | -121M | -121M |
| Owner Earnings | -5.7M | -7.6M | 15M | 60M | 14M | -101M | 102M | -52M | -42M | 216M | 264M | -156M | -156M |
| CapEx | 12M | 25M | 12M | 7.9M | 14M | 7.3M | 12M | 23M | 11M | 16M | 12M | 4.4M | 4.4M |
| Maint. CapEx | 16M | 16M | 12M | 16M | 19M | 19M | 20M | 24M | 19M | 22M | 27M | 28M | 28M |
| Growth CapEx | 0 | 9.0M | 225K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 16M | 16M | 12M | 16M | 19M | 19M | 20M | 24M | 19M | 22M | 27M | 28M | 28M |
| CapEx/OCF | 88.1% | 177.4% | 7.3% | 9.5% | 34.3% | N/A | 9.2% | N/A | N/A | 3.5% | 2.3% | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 90K | 80K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20M | 20M |
| Dividend Yield | 0.0% | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.8% |
| Share Buybacks | 38M | 11M | 30M | 35M | 19M | 14M | 6.9M | 14M | 7.2M | 9.9M | 47M | 31M | 31M |
| Buyback Yield | 5.8% | 2.0% | 3.3% | 3.3% | 1.6% | 1.9% | 0.5% | 0.9% | 0.6% | 0.5% | 2.9% | 0.0% | 1.3% |
| Stock-Based Comp | 4.6M | 5.7M | 6.0M | 6.5M | 7.2M | 8.0M | 7.2M | 7.1M | 7.8M | 9.5M | 11M | 12M | 12M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -409M | -603M | N/A | -411M |
| Cash & Equiv. | 76M | 95M | 110M | 118M | 80M | 86M | 130M | 155M | 103M | 253M | 389M | 411M | 411M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 39M | N/A | N/A |
| Debt/Equity | 1.03 | 0.93 | 1.14 | 1.03 | 0.85 | 0.87 | 0.91 | 0.77 | 0.82 | 0.03 | 0.07 | 0.68 | 0.00 |
| Interest Coverage | 295.9 | 901.8 | 55.6 | 70.5 | 40.8 | 37.0 | 53.0 | 77.4 | 40.2 | 35.4 | 45.1 | N/A | N/A |
| Equity | 279M | 319M | 346M | 373M | 424M | 486M | 562M | 661M | 776M | 897M | 971M | 1.1B | 1.1B |
| Total Assets | 568M | 617M | 742M | 755M | 786M | 909M | 1.1B | 1.2B | 1.4B | 1.7B | 1.9B | 1.8B | 1.8B |
| Total Liabilities | 289M | 298M | 396M | 383M | 362M | 423M | 514M | 505M | 633M | 752M | 908M | 732M | 732M |
| Intangibles | 41M | 12M | 12M | 26M | 39M | 34M | 39M | 27M | 25M | 44M | 82M | 61M | 61M |
| Retained Earnings | 286M | 331M | 223M | 278M | 341M | 410M | 485M | 508M | 627M | 743M | 843M | 956M | 956M |
| Working Capital | 183M | 205M | 221M | 215M | 231M | 263M | 318M | 437M | 534M | 617M | 559M | 790M | 790M |
| Current Assets | 441M | 478M | 597M | 565M | 560M | 650M | 778M | 897M | 1.1B | 1.3B | 1.4B | 1.4B | 1.4B |
| Current Liabilities | 258M | 273M | 376M | 350M | 329M | 387M | 459M | 460M | 561M | 657M | 799M | 638M | 638M |
| Per Share Data | |||||||||||||
| EPS | 0.78 | 0.76 | 0.90 | 1.98 | 2.33 | 1.29 | 1.39 | 3.93 | 4.48 | 4.41 | 3.93 | 5.03 | 5.03 |
| Owner EPS | -0.10 | -0.13 | 0.27 | 2.17 | 0.50 | -1.88 | 1.91 | -1.93 | -1.57 | 8.09 | 9.94 | -5.92 | -5.92 |
| Book Value | 4.73 | 5.43 | 6.16 | 13.35 | 15.61 | 9.04 | 10.47 | 24.59 | 29.12 | 33.54 | 36.48 | 40.54 | 40.54 |
| Cash Flow/Share | 0.24 | 0.24 | 0.59 | 2.97 | 1.45 | -1.38 | 2.41 | -0.77 | -0.58 | 9.29 | 11.35 | -4.41 | 6.08 |
| Dividends/Share | 0.00 | 0.00 | 0.00 | 0.00 | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 | 0.75 | 0.75 |
| Shares Out. | 59.1M | 58.7M | 56.2M | 27.9M | 27.2M | 53.8M | 53.7M | 26.9M | 26.6M | 26.8M | 26.6M | 26.4M | 26.4M |
| Valuation | |||||||||||||
| P/E Ratio | 14.1 | 12.7 | 18.4 | 19.2 | 18.8 | 11.1 | 18.3 | 14.1 | 10.6 | 18.0 | 15.1 | N/A | 17.7 |
| P/FCF | 584.0 | N/A | 88.4 | 14.1 | 45.9 | N/A | 23.1 | N/A | N/A | 9.0 | 5.6 | N/A | N/A |
| EV/EBIT | 7.0 | 5.1 | 8.3 | 9.7 | 12.9 | 6.7 | 10.8 | 8.1 | 6.5 | 10.3 | 6.5 | N/A | 11.7 |
| Price/Book | 2.3 | 1.8 | 2.7 | 2.8 | 2.8 | 1.6 | 2.4 | 2.3 | 1.6 | 2.3 | 1.7 | N/A | 2.2 |
| Price/Sales | 0.4 | 0.5 | 0.5 | 0.8 | 0.9 | 0.7 | 0.7 | 0.7 | 0.6 | 0.8 | 1.0 | N/A | 1.0 |
| FCF Yield | 0.3% | -1.9% | 2.3% | 7.1% | 2.2% | -10.6% | 8.7% | -2.9% | -2.1% | 11.2% | 17.7% | N/A | -5.1% |
| Market Cap | 646M | 570M | 930M | 1.1B | 1.2B | 769M | 1.4B | 1.5B | 1.3B | 2.1B | 1.6B | 0 | 2.3B |
| Avg. Price | 15.76 | 20.61 | 24.32 | 38.98 | 43.41 | 39.44 | 39.05 | 49.98 | 50.19 | 63.09 | 80.11 | 0.00 | 89.02 |
| Year-End Price | 21.81 | 19.44 | 33.12 | 37.84 | 43.71 | 28.66 | 50.63 | 55.59 | 47.65 | 77.81 | 61.35 | 0.00 | 89.02 |
EPLUS INC passes 3 of 9 quality checks, indicating weak fundamentals.
EPLUS INC trades at 17.7x trailing earnings, compared to its 15-year median P/E of 18.0x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 19.7% with a gross margin of 24.9%. Total shareholder yield (dividends + buybacks) is 2.1%. At current prices, the estimated annualized return to fair value is +30.4%.
EPLUS INC (PLUS) has a net profit margin of 5.4%. This is a modest margin.
EPLUS INC (PLUS) generated $-121 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
EPLUS INC (PLUS) has a debt-to-equity ratio of 0.68. This indicates moderate leverage.
EPLUS INC (PLUS) reported earnings per share (EPS) of $5.03 in its most recent fiscal year.
EPLUS INC (PLUS) has a return on equity (ROE) of 13.0%. This indicates moderate shareholder returns.
EPLUS INC (PLUS) has a 5-year average gross margin of 24.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for EPLUS INC (PLUS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
EPLUS INC (PLUS) has a book value per share of $40.54, based on its most recent annual SEC filing.