Eplus Financials
This page shows Eplus (PLUS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Recent cash generation reflects a working-capital unwind more than stronger earnings, reshaping how the business funds itself.
The striking change is cash conversion: operating cash flow swung from-$15.4M to$302.1M across recent years even as operating margin weakened. With receivables down by$127.3M and inventory down by$19.3M , recent cash appears to have come largely from releasing working capital rather than from stronger underlying profitability.
This was a gross-profit-resilient year rather than a growth year: revenue fell to
The balance sheet is lightly debt-financed but still working-capital-heavy: long-term debt was only
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Eplus's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Eplus has an operating margin of 8.4%, meaning the company retains $8 of operating profit per $100 of revenue. This results in a moderate score of 38/100, indicating healthy but not exceptional operating efficiency. This is up from 5.2% the prior year.
Eplus's revenue declined 1.5% year-over-year, from $2.0B to $2.0B. This contraction results in a growth score of 26/100.
Eplus carries a low D/E ratio of 0.68, meaning only $0.68 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.
Eplus's current ratio of 2.24 indicates adequate short-term liquidity, earning a score of 41/100. The company can meet its near-term obligations, though with limited headroom.
While Eplus generated -$116.2M in operating cash flow, capex of $4.4M consumed most of it, leaving -$120.7M in free cash flow. This results in a low score of 34/100, reflecting heavy capital investment rather than weak cash generation.
Eplus's ROE of 12.4% shows moderate profitability relative to equity, earning a score of 38/100. This is up from 11.0% the prior year.
Eplus scores 4.60, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Eplus passes 7 of 9 financial strength tests. 2 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Eplus generates $-0.88 in operating cash flow (-$116.2M OCF vs $132.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Eplus earns $116.3 in operating income for every $1 of interest expense ($166.1M vs $1.4M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Eplus generated $2.0B in revenue in fiscal year 2026. This represents a decrease of 1.5% from the prior year.
Eplus's EBITDA was $193.8M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 47.3% from the prior year.
Eplus reported $132.6M in net income in fiscal year 2026. This represents an increase of 22.8% from the prior year.
Eplus earned $5.03 per diluted share (EPS) in fiscal year 2026. This represents an increase of 24.2% from the prior year.
Cash & Balance Sheet
Eplus generated -$120.7M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 140.6% from the prior year.
Eplus held $410.8M in cash against $0 in long-term debt as of fiscal year 2026.
Eplus paid $0.75 per share in dividends in fiscal year 2026.
Eplus had 26M shares outstanding in fiscal year 2026. This represents a decrease of 1.4% from the prior year.
Margins & Returns
Eplus's gross margin was 31.1% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 5.5 percentage points from the prior year.
Eplus's operating margin was 8.4% in fiscal year 2026, reflecting core business profitability. This is up 3.2 percentage points from the prior year.
Eplus's net profit margin was 6.7% in fiscal year 2026, showing the share of revenue converted to profit. This is up 1.3 percentage points from the prior year.
Eplus's ROE was 12.4% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 1.4 percentage points from the prior year.
Capital Allocation
Eplus spent $30.6M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 34.7% from the prior year.
Eplus invested $4.4M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 16.0% from the prior year.
PLUS Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $614.8M+1.0% | $608.8M-4.5% | $637.3M+30.8% | $487.3M-1.2% | $493.2M0.0% | $493.4M-7.9% | $535.7M+5.9% | $505.7M |
| Cost of Revenue | $456.1M+2.1% | $446.7M-8.7% | $489.1M+39.3% | $351.1M-4.6% | $368.1M+0.6% | $366.1M-10.4% | $408.8M-2.1% | $417.4M |
| Gross Profit | $158.7M-2.1% | $162.1M+9.4% | $148.2M+8.8% | $136.3M+8.9% | $125.1M-1.7% | $127.3M+0.3% | $126.9M+43.8% | $88.2M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $108.7M+2.1% | $106.5M+1.5% | $104.9M+5.7% | $99.3M-1.6% | $100.9M+6.8% | $94.5M+4.4% | $90.6M+8.9% | $83.2M |
| Operating Income | $43.5M-11.0% | $48.8M+34.9% | $36.2M+22.9% | $29.4M+78.8% | $16.5M-39.0% | $27.0M-14.2% | $31.5M+1973.8% | $1.5M |
| Interest Expense | N/A | N/A | N/A | $572K+10.6% | $517K-3.7% | $537K-8.2% | $585K-19.1% | $723K |
| Income Tax | $12.2M-23.0% | $15.8M+63.5% | $9.7M+6.1% | $9.1M+70.5% | $5.4M-28.8% | $7.5M-16.3% | $9.0M+846.9% | $948K |
| Net Income | $35.1M+0.6% | $34.9M-7.5% | $37.7M+49.6% | $25.2M+4.4% | $24.1M-22.9% | $31.3M+14.5% | $27.3M+24.4% | $22.0M |
| EPS (Diluted) | $1.33+0.8% | $1.32-7.7% | $1.43 | N/A | $0.91-22.2% | $1.17+14.7% | $1.02 | N/A |
PLUS Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.8B+3.7% | $1.8B-1.8% | $1.8B-4.5% | $1.9B+6.7% | $1.8B+3.9% | $1.7B+3.0% | $1.7B-0.2% | $1.7B |
| Current Assets | $1.5B+5.9% | $1.4B-2.1% | $1.4B+2.8% | $1.4B+6.8% | $1.3B+6.2% | $1.2B-4.9% | $1.3B-0.7% | $1.3B |
| Cash & Equivalents | $326.3M-18.9% | $402.2M-16.2% | $480.2M+23.3% | $389.4M+53.9% | $253.1M+35.0% | $187.5M-46.4% | $349.9M+38.3% | $253.0M |
| Inventory | $241.0M+56.3% | $154.1M+52.5% | $101.1M-16.1% | $120.4M+21.6% | $99.0M+5.5% | $93.9M+5.3% | $89.1M-36.2% | $139.7M |
| Accounts Receivable | $698.0M+3.1% | $676.8M-3.4% | $700.9M+35.6% | $516.9M-13.0% | $594.2M+1.1% | $588.0M+1.9% | $577.0M-10.4% | $644.2M |
| Goodwill | $202.9M0.0% | $202.9M0.0% | $203.0M+0.1% | $202.9M0.0% | $202.8M-0.2% | $203.2M+25.8% | $161.5M0.0% | $161.5M |
| Total Liabilities | $768.4M+6.6% | $720.7M-7.4% | $778.7M-14.2% | $907.2M+12.9% | $803.4M+6.7% | $753.1M+3.3% | $729.0M-3.0% | $751.7M |
| Current Liabilities | $682.1M+8.6% | $628.1M-8.7% | $687.8M-13.8% | $797.9M+14.5% | $696.8M+7.2% | $649.9M+3.5% | $628.2M-4.4% | $657.0M |
| Long-Term Debt | N/A | N/A | N/A | $38.8M | N/A | N/A | N/A | N/A |
| Total Equity | $1.1B+1.6% | $1.0B+2.5% | $1.0B+4.4% | $977.6M+1.6% | $962.3M+1.6% | $947.0M+2.7% | $921.9M+2.2% | $901.8M |
| Retained Earnings | $945.3M+3.1% | $916.9M+3.2% | $888.7M+4.4% | $851.0M+3.1% | $825.8M+3.0% | $801.6M+4.1% | $770.3M+3.7% | $743.0M |
PLUS Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$87.4M-151.5% | -$34.8M+64.9% | -$99.0M-161.5% | $160.9M+145.0% | $65.7M+403.8% | -$21.6M-122.3% | $97.1M-7.5% | $105.0M |
| Capital Expenditures | N/A | N/A | N/A | $1.9M | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | $159.1M | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$1.4M-40.2% | -$989K-100.6% | $155.9M+10135.9% | -$1.6M-459.5% | $432K+100.3% | -$125.8M-6502.3% | -$1.9M+68.9% | -$6.1M |
| Financing Cash Flow | $13.0M+131.2% | -$41.5M-230.1% | $31.9M+232.2% | -$24.1M-2958.0% | $845K+105.3% | -$15.9M-1085.3% | $1.6M-86.6% | $12.0M |
| Dividends Paid | $6.5M | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Share Buybacks | $17.0M+318.9% | $4.0M+22.5% | $3.3M-75.5% | $13.5M+36.0% | $9.9M-17.3% | $12.0M+3.6% | $11.6M+31167.6% | $37K |
PLUS Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.8%-0.8pp | 26.6%+3.4pp | 23.3%-4.7pp | 28.0%+2.6pp | 25.4%-0.4pp | 25.8%+2.1pp | 23.7%+6.2pp | 17.4% |
| Operating Margin | 7.1%-0.9pp | 8.0%+2.3pp | 5.7%-0.4pp | 6.0%+2.7pp | 3.3%-2.1pp | 5.5%-0.4pp | 5.9%+5.6pp | 0.3% |
| Net Margin | 5.7%-0.0pp | 5.7%-0.2pp | 5.9%+0.7pp | 5.2%+0.3pp | 4.9%-1.5pp | 6.3%+1.3pp | 5.1%+0.8pp | 4.3% |
| Return on Equity | 3.3%-0.0pp | 3.3%-0.4pp | 3.7%+1.1pp | 2.6%+0.1pp | 2.5%-0.8pp | 3.3%+0.3pp | 3.0%+0.5pp | 2.4% |
| Return on Assets | 1.9%-0.1pp | 2.0%-0.1pp | 2.1%+0.8pp | 1.3%-0.0pp | 1.4%-0.5pp | 1.8%+0.2pp | 1.7%+0.3pp | 1.3% |
| Current Ratio | 2.13-0.1 | 2.19+0.1 | 2.04+0.3 | 1.71-0.1 | 1.83-0.0 | 1.85-0.2 | 2.01+0.1 | 1.94 |
| Debt-to-Equity | 0.72+0.0 | 0.69-0.1 | 0.76+0.7 | 0.04-0.8 | 0.83+0.0 | 0.800.0 | 0.79-0.0 | 0.83 |
| FCF Margin | N/A | N/A | N/A | 32.6% | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Eplus's annual revenue?
Eplus (PLUS) reported $2.0B in total revenue for fiscal year 2026. This represents a -1.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Eplus's revenue growing?
Eplus (PLUS) revenue declined by 1.5% year-over-year, from $2.0B to $2.0B in fiscal year 2026.
Is Eplus profitable?
Yes, Eplus (PLUS) reported a net income of $132.6M in fiscal year 2026, with a net profit margin of 6.7%.
What is Eplus's EBITDA?
Eplus (PLUS) had EBITDA of $193.8M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
What is Eplus's gross margin?
Eplus (PLUS) had a gross margin of 31.1% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Eplus's operating margin?
Eplus (PLUS) had an operating margin of 8.4% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Eplus's net profit margin?
Eplus (PLUS) had a net profit margin of 6.7% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
Does Eplus pay dividends?
Yes, Eplus (PLUS) paid $0.75 per share in dividends during fiscal year 2026.
What is Eplus's return on equity (ROE)?
Eplus (PLUS) has a return on equity of 12.4% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Eplus's free cash flow?
Eplus (PLUS) generated -$120.7M in free cash flow during fiscal year 2026. This represents a -140.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Eplus's operating cash flow?
Eplus (PLUS) generated -$116.2M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Eplus's total assets?
Eplus (PLUS) had $1.8B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Eplus's capital expenditures?
Eplus (PLUS) invested $4.4M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
What is Eplus's current ratio?
Eplus (PLUS) had a current ratio of 2.24 as of fiscal year 2026, which is generally considered healthy.
What is Eplus's debt-to-equity ratio?
Eplus (PLUS) had a debt-to-equity ratio of 0.68 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Eplus's return on assets (ROA)?
Eplus (PLUS) had a return on assets of 7.4% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Eplus's cash runway?
Based on fiscal year 2026 data, Eplus (PLUS) had $410.8M in cash against an annual operating cash burn of $116.2M. This gives an estimated cash runway of approximately 42 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Eplus's Altman Z-Score?
Eplus (PLUS) has an Altman Z-Score of 4.60, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Eplus's Piotroski F-Score?
Eplus (PLUS) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Eplus's earnings high quality?
Eplus (PLUS) has an earnings quality ratio of -0.88x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Eplus cover its interest payments?
Eplus (PLUS) has an interest coverage ratio of 116.3x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Eplus?
Eplus (PLUS) scores 44 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.