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ePlus inc.

PLUS Technology Software Application

ePlus inc.’s revenue for fiscal 2026 (year ended March 2026) was $2.4 billion, up 22.1% from fiscal 2025.

Revenue
+0.99%
EPS
−27.8%
Free cash flow
+175.8%

Quarter to June 2026, against a year earlier

82.42 8.05 −8.90%
Market cap
$2.2B
P/E
17.9×
Fwd P/E
19.1×
Dividend yield
1.26%
F-score
6/9
Altman Z
4.55
Beneish M
−1.60
Dividend safety
55/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 2.10
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — 1 — — 2 — 2 4 3 2 —
Insider Ownership 1.57%

Capital & Financial Ratios $m

Size
Market Cap 2,150.00
Revenue ttm 2,448.89
Net income ttm 120.33
Free cash flow ttm 54.83
Net debt Q (448.85)
Valuation
P/E 17.92
Forward P/E 19.10
Price / sales 0.87
Forward P/S Powerpack
Price / FCF 38.99
Price / book 1.99
Financial health
Current ratio Q 2.13 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 14.62
Growth
Revenue growth Q +0.99% (above 0%: growing)
Operating income growth Q −9.57% (below 0%: shrinking)
EPS, this year +0.09%
EPS, next year A +8.34%
Revenue, next year A +4.69%
EPS, past 5 yrs +12.67%
EPS, next 5 yrs A +2.18%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.7×, against a ten-year median of 0.7×; over the ten years it ranged from 0.4× in 2016 to 1.2× in 2024.
P/E against its own 10 years 67.88%
10-year low 10-year high
P/S against its own 10 years 70.37%
10-year low 10-year high
P/B against its own 10 years 29.04%
10-year low 10-year high
EV/Sales against its own 10 years 43.20%
10-year low 10-year high
EV/FCF against its own 10 years 64.78%
10-year low 10-year high

Dividends

Yield
1.26%
Annual rate
1.04
Payout ratio
22.8%
Growth, 2017–25
−6.97%/yr
  1. 0.89 ’17
  2. 2.83 ’18 +217
  3. 0.89 ’19 −68
  4. 1.33 ’20 +49
  5. 1.42 ’21 +7
  6. 0.22 ’22 −84
  7. 0.00 ’23 −100
  8. 0.00 ’24
  9. 0.50 ’25
  10. 0.95 ’26e +91
paid forecast change on the year, %

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 253 389 411 449
Receivables 794 528 707 783
Inventory 140 120 201 146
Other 27 31 32 45
1,274 1,358 1,428 1,501
2024 2025 2026 Q'26
Payables 421 413 384 430
ST’ Debt — — — —
Other 35 22 37 221
657 799 638 704

Compound Annual Growth %

10y 5y 3y
Sales 7.33% 9.27% 5.71%
Cash Flow 0.00% 0.00% 0.00%
Earnings 11.48% 12.26% 3.58%
Book Value 12.86% 13.71% 10.97%

Earnings Trends EPS, adjusted, against the consensus

Q1 FY27 Estimate 1.19 Actual 1.28

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY26 0.95 1.53 Beat by 0.58
Q3 FY26 1.01 1.45 Beat by 0.44
Q4 FY26 0.98 1.00 Beat by 0.02
Q1 FY27 1.19 1.28 Beat by 0.09
Q2 FY27 1.47 — Reports 5 November 2026

EPS $

Jun Sep Dec Mar Year
’26 1.16 — — — —
’26 1.61 1.32 1.33 0.76 5.03
’25 1.02 1.17 0.91 0.82 4.05
’24 1.27 1.22 1.02 0.82 4.33
’23 0.84 1.07 1.34 1.23 4.48
’22 0.88 1.17 0.98 0.91 3.93
’21 0.65 0.74 0.81 0.58 2.77
Fiscal quarters ending in the months shown.

Revenue $m

Jun Sep Dec Mar Year
’26 649 — — — —
’26 643 609 615 576 2,443
’25 536 493 493 478 2,000
’24 574 588 509 507 2,178
’23 458 494 623 492 2,068
’22 417 458 495 452 1,821
’21 355 433 428 353 1,568
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 76 — — — —
’26 (99) (35) (87) 105 (116)
’25 97 (22) 66 161 302
’24 (21) 31 133 105 248
’23 (103) (17) (27) 132 (15)
’22 (65) (70) 13 101 (21)
’21 6 2 (3) 124 130
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 76 — — — —
’26 (100) (36) (89) 104 (121)
’25 96 (23) 64 159 297
’24 (24) 30 131 105 241
’23 (105) (14) (30) 128 (21)
’22 (71) (77) 9 118 (22)
’21 4 1 (4) 119 121
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Jun ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 1,332 1,419 1,373 1,588 1,568 1,821 2,068 2,178 2,000 2,443 2,449 +7.0% 2,557 2,682 2,759 +4.1%
Gross margin, % 22.51 22.80 24.07 24.63 25.09 25.31 25.03 23.49 25.60 25.22 25.06 +2.7 pt
EBT 86 84 86 96 107 147 163 135 106 173 172 +8.1%
EBT margin, % 6.47 5.91 6.28 6.04 6.82 8.07 7.88 6.21 5.31 7.10 7.02 +0.6 pt
Net income 51 55 63 69 74 106 119 118 105 133 120 +11.3%
Per share, $
Per share, $ Revenue 48.02 51.44 51.04 59.59 58.80 68.36 77.82 81.86 75.47 93.11 94.41 +7.6%
Earnings 1.83 2.00 2.35 2.59 2.79 3.96 4.49 4.35 4.07 5.05 4.60 +12.0%
Cash flow 1.19 3.00 1.47 (2.78) 4.86 (0.77) (0.58) 9.34 11.40 (4.43) 2.28 n/m
Capex (0.44) 0.02 (0.68) (0.20) (0.33) (0.05) (0.21) (0.29) (0.20) (0.17) (0.17) (10.2%)
Free cash flow 0.75 3.02 0.78 (2.98) 4.53 (0.82) (0.79) 9.05 11.20 (4.60) 2.11 n/m
Book value 12.47 13.51 15.77 18.24 21.08 24.80 29.44 33.89 36.62 40.75 41.33 +14.1%
Shares, m 28 28 27 27 27 27 27 27 27 26 26 (0.6%)
Valuation, ×
Valuation, × P/E 18.50 18.98 19.36 12.09 17.89 14.16 10.92 17.65 15.46 14.90 17.92 16.0
P/S 0.70 0.73 0.89 0.53 0.85 0.82 0.63 0.94 0.81 0.81 0.87 0.8
P/B 2.71 2.80 2.88 1.72 2.36 2.26 1.67 2.27 1.67 1.85 1.99 2.2
EV/Sales 0.63 0.66 0.84 0.47 0.78 0.74 0.58 0.83 0.62 0.64 0.69 0.7
EV/FCF 39.98 11.22 54.76 (9.49) 10.08 (61.74) (57.42) 7.49 4.17 (13.06) 31.01 (1.4)
Cash, $m
Cash, $m Operating cash flow 33 83 39 (74) 130 (21) (15) 248 302 (116) 59 n/m
Capex (12) 0 (18) (5) (9) (1) (6) (8) (5) (4) (4) (10.7%)
Free cash flow 21 83 21 (79) 121 (22) (21) 241 297 (121) 55 n/m
Balance, $m
Balance, $m Working capital 221 215 231 263 318 437 534 617 559 790 797 +15.2%
Net debt (99) (108) (69) (80) (111) (145) (94) (240) (378) (411) (449) +17.1%
Shareholders’ equity 346 373 424 486 562 661 782 902 971 1,069 1,072 +13.4%
Returns, %
Returns, % ROA 7.44 7.36 8.20 8.15 7.49 9.42 9.25 7.69 5.92 7.21 6.56 (0.2) pt
ROIC 21.73 19.91 14.00 14.68 14.73 17.87 15.08 12.64 10.51 15.78 16.25 (5.9) pt
ROE 15.21 15.34 15.86 15.18 14.19 17.27 16.54 14.01 11.17 13.01 11.50 (2.2) pt
People
People Employees 1,173 1,260 1,537 1,579 1,560 1,577 1,754 1,900 2,199 2,148 — +7.0%
Revenue/emp, $m 1.14 1.13 0.89 1.01 1.01 1.15 1.18 1.15 0.91 1.14 — 0.0%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

ePlus inc. vs peers in Software Application (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
VERX Vertex, Inc. $2.9B 511× 71.3× +11.02% (above 0%: growing) n/m +76.75% (above 0%: growing) 65.74% 0.15% Compare
ASAN Asana, Inc. $2.6B — (loss-making) — (loss-making) +9.90% (above 0%: growing) n/m +390.69% (above 0%: growing) 85.99% (19.05%) Compare
BLKB Blackbaud, Inc. $2.5B 17.0× 15.3× +4.09% (above 0%: growing) +4.07% (above 0%: growing) +2.26% (above 0%: growing) 60.75% 20.49% Compare
KC Kingsoft Cloud Holdings Limited Sponsored ADR $2.5B — (loss-making) — (loss-making) +38.06% (above 0%: growing) n/m +43.68% (above 0%: growing) 15.18% 0.75% Compare
NCNO nCino Inc. $2.5B 74.8× 72.0× +8.19% (above 0%: growing) n/m +170.13% (above 0%: growing) 62.59% 8.46% Compare
GRND Grindr Inc. $2.4B 26.9× 25.0× +32.54% (above 0%: growing) +25.00% (above 0%: growing) +3.61% (above 0%: growing) 74.98% 23.53% Compare
PLUS ePlus inc. $2.2B 17.9× 19.1× +0.99% (above 0%: growing) −27.78% (below 0%: shrinking) +175.78% (above 0%: growing) 23.31% 5.98%
AMPL Amplitude, Inc. $2.0B — (loss-making) — (loss-making) +24.93% (above 0%: growing) n/m +73.60% (above 0%: growing) 67.24% (22.25%) Compare
KARO Karooooo Ltd. $2.0B 30.1× 28.1× +32.91% (above 0%: growing) +26.67% (above 0%: growing) +113.90% (above 0%: growing) 65.55% 25.75% Compare
Median of peers $2.5B 30.1× 28.1× +17.98% +25.00% +75.17% 65.65% 4.60%

All 230 Software Application stocks →

Pay and ownership Proxy statement filed 24 July 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 8.50m 10.08m 152.48
2025 6.38m 5.46m 194.92
2024 5.72m 8.21m 250.85
2023 4.42m 3.77m 156.63
2022 4.90m 5.47m 179.05

Ownership

Directors and executive officers, together 2.20%
BlackRock, Inc. 15.10% of the votes
River Road Asset Management, LLC 5.30% of the votes
Dimensional Fund Advisors LP Building One 5.20% of the votes
Vanguard Capital Management 5.20% of the votes
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

ePlus inc. (PLUS) Latest News

6 Nov

Impact 4 · · GuruFocus.com

5 Nov

Impact 3 · · StockStory
Impact 3 · · PR Newswire

20 Oct

Impact 3 · · PR Newswire

13 Oct

Impact 3 · · StockStory

1 Oct

Impact 3 · · StockStory

25 Sep

Impact 3 · · Simply Wall St.

22 Sep

Impact 3 · · StockStory

3 Sep

Impact 3 ·

2 Sep

Impact 3 ·

1 Sep

Impact 3 ·

24 Aug

Impact 3 ·

5 Aug

Impact 4 ·
Impact 3 ·

4 Aug

Impact 4 ·
Impact 3 · · MarketBeat
Impact 3 ·

3 Aug

Impact 3 ·

28 Jul

Impact 3 ·

21 Jul

Impact 3 ·

2 Jul

Impact 3 ·

16 Jun

Impact 3 ·

10 Jun

Impact 3 · · Insider Monkey

4 Jun

Impact 3 · · Simply Wall St.
Impact 3 · · StockStory

3 Jun

Impact 3 · · PR Newswire

31 May

Impact 4 · · Insider Monkey

29 May

Impact 4 · · StockStory
Impact 4 · · GuruFocus.com

28 May

Impact 3 · · Moby transcript

PLUS metrics, ten years each

stockrow.com/PLUS · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com