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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. In the quarter to June 2026, revenue was flat, EPS fell 18.2% and free cash flow grew 175.8%, each against the same quarter a year earlier.

94.16 0.81 −0.85%
Market cap
$2.5B
P/E
20.5×
Fwd P/E
17.6×
Dividend yield
1.10%
F-score
6/9
Altman Z
4.55
Beneish M
−1.60
Dividend safety
55/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 2.10
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — 1 — 1 — — 2 — 2 4 3 2
Insider Ownership 1.61%

Capital & Financial Ratios $m

Market Cap 2,480.00
Revenue 2,448.89
Net Income 120.33
Free Cash Flow 54.83
Net Debt (448.85)
Current Ratio 2.13 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 20.47
Fwd P/E 17.60
P/S ratio 1.00
P/B ratio 2.28
Past 5Y EPS Growth 12.67%
This Y EPS Growth 1.58%
Next Y EPS Growth 8.77%
Next Y revenue growth 4.69%
Next 5Y EPS Growth 2.18%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.8×, 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 87.69%
10-year low 10-year high
P/S against its own 10 years 93.51%
10-year low 10-year high
P/B against its own 10 years 57.28%
10-year low 10-year high
EV/Sales against its own 10 years 79.54%
10-year low 10-year high
EV/FCF against its own 10 years 73.10%
10-year low 10-year high

Dividends

Payout Ratio 0.23
Annual Dividend Rate 1.04
Annual Dividend Yield 1.10%
total individual payouts
2026 0.95
0.25
0.27
0.27
2025 0.92
0.25
0.25
2024 Powerpack
2023 Powerpack
2022 0.22
0.22
2021 1.42
0.83
0.59
2020 1.33
0.38
0.95
2019 0.89
0.62
0.27
2018 2.83
1.45
1.38
2017 0.89
0.65
0.24
2016 1.07
0.21
0.63
0.23
predictions special payouts not included in total or ratios

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%

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.

EPS $

Jun Sep Dec Mar Year
’26 1.16 — — — —
’26 1.43 1.32 1.33 0.76 5.03
’25 1.02 1.17 0.91 0.95 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.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
Price, $
Price, $ Low 27.14 32.76 33.50 21.27 40.84 40.37 41.71 56.33 53.83 73.09

Analyst estimates 2027–2029

Powerpack
High 48.88 53.63 49.82 46.22 69.74 62.82 81.38 106.98 93.98 98.14
People
People Employees 1,173 1,260 1,537 1,579 1,560 1,577 1,754 1,900 2,199 2,148
Revenue/emp, $m 1.14 1.13 0.89 1.01 1.01 1.15 1.18 1.15 0.91 1.14
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
Gross margin, % 22.51 22.80 24.07 24.63 25.09 25.31 25.03 23.49 25.60 25.22
EBT 86 84 86 96 107 147 163 135 106 173
EBT margin, % 6.47 5.91 6.28 6.04 6.82 8.07 7.88 6.21 5.31 7.10
Net income 51 55 63 69 74 106 119 118 105 133
Depreciation 12 16 19 19 20 24 19 22 27 28
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
Earnings 1.83 2.00 2.35 2.59 2.79 3.96 4.49 4.35 4.07 5.05
Cash flow 1.19 3.00 1.47 (2.78) 4.86 (0.77) (0.58) 9.34 11.40 (4.43)
Capex (0.44) 0.02 (0.68) (0.20) (0.33) (0.05) (0.21) (0.29) (0.20) (0.17)
Free cash flow 0.75 3.02 0.78 (2.98) 4.53 (0.82) (0.79) 9.05 11.20 (4.60)
Book value 12.47 13.51 15.77 18.24 21.08 24.80 29.44 33.89 36.62 40.75
Shares, m 28 28 27 27 27 27 27 27 27 26
Valuation, ×
Valuation, × P/E 18.50 18.98 19.36 12.09 17.89 14.16 10.92 17.65 14.96 15.48
P/S 0.70 0.73 0.89 0.53 0.85 0.82 0.63 0.94 0.81 0.81
P/B 2.71 2.80 2.88 1.72 2.36 2.26 1.67 2.27 1.67 1.85
EV/Sales 0.63 0.66 0.84 0.47 0.78 0.74 0.58 0.83 0.62 0.64
EV/FCF 39.98 11.22 54.76 (9.49) 10.08 (61.74) (57.42) 7.49 4.17 (13.06)
Cash, $m
Cash, $m Operating cash flow 33 83 39 (74) 130 (21) (15) 248 302 (116)
Capex (12) 0 (18) (5) (9) (1) (6) (8) (5) (4)
Free cash flow 21 83 21 (79) 121 (22) (21) 241 297 (121)
Balance, $m
Balance, $m Working capital 221 215 231 263 318 437 534 617 559 790
Total debt 10 10 11 6 18 10 10 13 11 —
Net debt (99) (108) (69) (80) (111) (145) (94) (240) (378) (411)
Shareholders’ equity 346 373 424 486 562 661 782 902 971 1,069
Returns, %
Returns, % ROA 7.44 7.36 8.20 8.15 7.49 9.42 9.25 7.69 5.92 7.21
ROIC 21.73 19.91 14.00 14.68 14.73 17.87 15.08 12.64 10.51 15.78
ROE 15.21 15.34 15.86 15.18 14.19 17.27 16.54 14.01 11.17 13.01
Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Charts ten years each

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
VIA Via Transportation Inc. $2.7B — (loss-making) — (loss-making) +26.67% (above 0%: growing) n/m +28.02% (above 0%: growing) 40.98% (16.03%) Compare
KC Kingsoft Cloud Holdings Limited Sponsored ADR $2.7B — (loss-making) — (loss-making) +38.06% (above 0%: growing) n/m +43.68% (above 0%: growing) 15.18% 0.75% Compare
GRND Grindr Inc. $2.6B 28.2× 19.0× +32.54% (above 0%: growing) +25.00% (above 0%: growing) +3.61% (above 0%: growing) 74.98% 23.53% Compare
PLUS ePlus inc. $2.5B 20.5× 17.6× +0.99% (above 0%: growing) −18.18% (below 0%: shrinking) +175.78% (above 0%: growing) 23.31% 5.98%
ADEA Adeia Inc. $2.4B 18.1× 40.6× +12.11% (above 0%: growing) +6.67% (above 0%: growing) +94.36% (above 0%: growing) 100.00% 26.40% Compare
ASAN Asana, Inc. $2.4B — (loss-making) — (loss-making) +9.90% (above 0%: growing) n/m +390.69% (above 0%: growing) 85.99% (19.05%) Compare
BLKB Blackbaud, Inc. $2.3B 15.9× 9.0× +3.04% (above 0%: growing) +46.30% (above 0%: growing) +46.16% (above 0%: growing) 61.31% 21.34% Compare
BTDR Bitdeer Technologies Group $2.3B — (loss-making) — (loss-making) +47.05% (above 0%: growing) n/m +5.54% (above 0%: growing) (3.73%) (44.47%) Compare
DBD Diebold Nixdorf, Incorporated $2.3B 21.5× — +1.70% (above 0%: growing) +36.36% (above 0%: growing) −327.56% (below 0%: shrinking) 25.74% 6.17% Compare
Median of peers $2.4B 19.8× 19.0× +19.39% +30.68% +35.85% 51.15% 3.46%

All 237 Software Application stocks →

ePlus inc. (PLUS) key facts

  • Strength: ePlus inc.’s revenue for fiscal 2026 (year ended March 2026) was $2.4 billion, up 22.1% from fiscal 2025.
  • ePlus inc. (PLUS) is a Software Application company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, PLUS traded at $94.16, a market capitalization of $2.5 billion.
  • ePlus inc. pays an annual dividend of $1.04 per share, a yield of 1.10%, with a payout ratio of 22.8%.
  • Return on equity was 13.0% and debt-to-equity 0.00.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 4.55 (safe zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/PLUS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com