ePlus Inc. (Nasdaq: PLUS) is an American consultative technology solutions provider that managed services across the technology spectrum, including security, cloud, networking, collaboration, artificial intelligence, and emerging solutions to more than 5,000 customers. ePlus was founded in 1990, and was formerly known as MLC Holdings, Inc. The company changed its name to ePlus, inc. in 1999, after its IPO in 1996.3Wikipedia text CC BY-SA 4.0
ePlus Inc. (Nasdaq: PLUS) is an American consultative technology solutions provider that managed services across the technology spectrum, including security, cloud, networking, collaboration, artificial intelligence, and emerging solutions to more than 5,000 customers.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue9101112135$2.4B in 2026+78% since 2019Gross profit9101112135$616.1M in 2026+86% since 2019Operating income9101112135$166.1M in 2026+109% since 2019Net income9101112135$132.6M in 2026+110% since 2019
Revenue141516$649.1M in Q1 FY2026+7% since Q2 FY2025Gross profit141516$151.3M in Q1 FY2026−7% since Q2 FY2025Operating income141516$38.8M in Q1 FY2026−20% since Q2 FY2025Net income141516$30.3M in Q1 FY2026−13% since Q2 FY2025
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
Period ending
2026-03-31
2025-03-31
2024-03-31
Total
$2.4B
$2.0B
$2.2B
Total
$1.8B
$1.5B
$1.7B
Gross profit
$616.1M
$512.1M
$511.7M
Selling, general, and administrative
$423.4M
$386.7M
$355.6M
Depreciation and amortization
$26.5M
$25.8M
$21.0M
Interest and financing costs
$0
$0
$1.4M
Operating expenses
$449.9M
$412.4M
$377.9M
Operating income
$166.1M
$99.7M
$133.8M
Other income, net
$7.3M
$6.4M
$1.4M
Earnings from continuing operations before tax
$173.4M
$106.1M
$135.2M
Provision for income taxes
$49.3M
$29.7M
$37.9M
Net earnings from continuing operations
$124.1M
$76.4M
$97.3M
Net earnings from discontinued operations, net of tax (Note 5)
$8.5M
$28.1M
$20.7M
Net earnings (in Dollars)
$132.6M
$104.6M
$118.0M
Continuing operations (in Dollars per share)
$5
$3
$4
Discontinued operations (in Dollars per share)
$0
$1
$1
Net earnings per common share basic (in Dollars per share)
$5.05
$3.94
$4.44
Continuing operations (in Dollars per share)
$5
$3
$4
Discontinued operations (in Dollars per share)
$0
$1
$1
Net earnings per common share diluted (in Dollars per share)
$5.03
$3.93
$4.41
Weighted average common shares outstandingbasic (in Shares)
26.2M shares
26.5M shares
26.6M shares
Weighted average common shares outstandingdiluted (in Shares)
26.4M shares
26.7M shares
26.7M shares
No quarter-by-quarter statement was filed.
Total assets9101112135$1.8B in 2026+129% since 2019Total liabilities179101112135$732.0M in 2026+102% since 2019Shareholders’ equity101112135$1.1B in 2026+152% since 2019Cash179101112135$410.8M in 2026+415% since 2019
Total assets141516$1.9B in Q1 FY2026+6% since Q2 FY2025Total liabilities141516$795.0M in Q1 FY2026+10% since Q2 FY2025Shareholders’ equity141516$1.1B in Q1 FY2026+2% since Q2 FY2025Cash141516$448.9M in Q1 FY2026+12% since Q2 FY2025
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
Period ending
2026-03-31
2025-03-31
2024-03-31
2023-03-31
Cash and cash equivalents
$410.8M
$389.4M
Accounts receivabletrade, net
$667.8M
$508.3M
Accounts receivableother, net
$38.9M
$19.4M
Inventories
$200.9M
$120.4M
Deferred costs
$77.7M
$66.8M
Other current assets
$31.6M
$31.4M
Current assets of discontinued operations
$0
$222.4M
Total current assets
$1.4B
$1.4B
Deferred tax asset
$9.0M
$3.7M
Property, equipment, and other assetsnet
$100.0M
$98.7M
Goodwill
$202.9M
$202.9M
Other intangible assetsnet
$61.3M
$82.0M
Non-current assets of discontinued operations
$0
$133.8M
TOTAL ASSETS
$1.8B
$1.9B
Accounts payable
$264.6M
$323.9M
Accounts payablefloor plan
$119.7M
$89.5M
Salaries and commissions payable
$48.6M
$42.7M
Deferred revenue
$168.1M
$154.1M
Other current liabilities
$37.1M
$22.5M
Current liabilities of discontinued operations
$0
$166.5M
Total current liabilities
$638.1M
$799.1M
Deferred tax liabilitylong-term
$0
$1.5M
Deferred revenuelong-term
$83.0M
$81.8M
Other liabilities
$10.8M
$13.5M
Non-current liabilities of discontinued operations
$0
$12.5M
TOTAL LIABILITIES
$732.0M
$908.4M
Preferred stock, $0.01 per share par value; 2,000 shares authorized; none outstanding
$0
$0
Common stock, $0.01 per share par value; 50,000 shares authorized; 27,765 shares issued and 26,299 outstanding at March 31, 2026, and 27,582 shares issued and 26,526 outstanding at March 31, 2025
$278.0K
$276.0K
Additional paid-in capital
$210.3M
$194.5M
Treasury stock, at cost, 1,466 shares at March 31, 2026, and 1,056 shares at March 31, 2025
-$101.9M
-$70.7M
Retained earnings
$956.0M
$843.2M
Accumulated other comprehensive incomeforeign currency translation adjustment
$4.4M
$3.4M
Total Stockholders Equity
$1.1B
$970.7M
$897.4M
$775.7M
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY
$1.8B
$1.9B
Preferred stock, par value (in Dollars per share)
$0.01
$0.01
Preferred stock, shares authorized (in Shares)
2.0M shares
2.0M shares
Preferred stock, shares outstanding (in Shares)
0 shares
0 shares
Common stock, par value (in Dollars per share)
$0.01
$0.01
Common stock, shares authorized (in Shares)
50.0M shares
50.0M shares
Common stock, shares outstanding (in Shares)
26.3M shares
26.5M shares
Common stock, shares issued (in Shares)
27.8M shares
27.6M shares
Treasury stock, shares (in Shares)
1.5M shares
1.1M shares
Period ending
2026-03-31
2025-03-31
2024-03-31
2023-03-31
Cash and cash equivalents
$410.8M
$389.4M
Accounts receivabletrade, net
$667.8M
$508.3M
Accounts receivableother, net
$38.9M
$19.4M
Inventories
$200.9M
$120.4M
Deferred costs
$77.7M
$66.8M
Other current assets
$31.6M
$31.4M
Current assets of discontinued operations
$0
$222.4M
Total current assets
$1.4B
$1.4B
Deferred tax asset
$9.0M
$3.7M
Property, equipment, and other assetsnet
$100.0M
$98.7M
Goodwill
$202.9M
$202.9M
Other intangible assetsnet
$61.3M
$82.0M
Non-current assets of discontinued operations
$0
$133.8M
TOTAL ASSETS
$1.8B
$1.9B
Accounts payable
$264.6M
$323.9M
Accounts payablefloor plan
$119.7M
$89.5M
Salaries and commissions payable
$48.6M
$42.7M
Deferred revenue
$168.1M
$154.1M
Other current liabilities
$37.1M
$22.5M
Current liabilities of discontinued operations
$0
$166.5M
Total current liabilities
$638.1M
$799.1M
Deferred tax liabilitylong-term
$0
$1.5M
Deferred revenuelong-term
$83.0M
$81.8M
Other liabilities
$10.8M
$13.5M
Non-current liabilities of discontinued operations
$0
$12.5M
TOTAL LIABILITIES
$732.0M
$908.4M
Preferred stock, $0.01 per share par value; 2,000 shares authorized; none outstanding
$0
$0
Common stock, $0.01 per share par value; 50,000 shares authorized; 27,765 shares issued and 26,299 outstanding at March 31, 2026, and 27,582 shares issued and 26,526 outstanding at March 31, 2025
$278.0K
$276.0K
Additional paid-in capital
$210.3M
$194.5M
Treasury stock, at cost, 1,466 shares at March 31, 2026, and 1,056 shares at March 31, 2025
-$101.9M
-$70.7M
Retained earnings
$956.0M
$843.2M
Accumulated other comprehensive incomeforeign currency translation adjustment
$4.4M
$3.4M
Total Stockholders Equity
$1.1B
$970.7M
$897.4M
$775.7M
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY
$1.8B
$1.9B
Preferred stock, par value (in Dollars per share)
$0.01
$0.01
Preferred stock, shares authorized (in Shares)
2.0M shares
2.0M shares
Preferred stock, shares outstanding (in Shares)
0 shares
0 shares
Common stock, par value (in Dollars per share)
$0.01
$0.01
Common stock, shares authorized (in Shares)
50.0M shares
50.0M shares
Common stock, shares outstanding (in Shares)
26.3M shares
26.5M shares
Common stock, shares issued (in Shares)
27.8M shares
27.6M shares
Treasury stock, shares (in Shares)
1.5M shares
1.1M shares
Cash from operations9101112135-$116.2M in 2026Capital spending5$4.4M in 2026−42% since 2024Free cash flow5-$120.7M in 2026Dividends paid5$19.7M in 2026Share buybacks9101112135$30.6M in 2026+63% since 2019
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
Period ending
2026-03-31
2025-03-31
2024-03-31
Net earnings
$132.6M
$104.6M
$118.0M
Less: Net earnings from discontinued operations, net of tax
$8.5M
$28.1M
$20.7M
Net earnings from continuing operations
$124.1M
$76.4M
$97.3M
Depreciation and amortization
$27.6M
$27.2M
$22.5M
Provision for credit losses
$483.0K
$1.7M
$371.0K
Share-based compensation expense
$12.1M
$10.5M
$9.5M
Deferred taxes
$892.0K
$3.4M
-$2.7M
Net loss on disposal of property and equipment
$121.0K
$283.0K
$192.0K
Accounts receivable
-$165.3M
$194.6M
-$117.5M
Inventories
-$80.3M
$23.4M
$101.7M
Deferred costs and other assets
-$9.9M
-$31.6M
-$24.0M
Accounts payable
-$59.3M
$6.0M
$107.0M
Salaries and commissions payable, deferred revenue, and other liabilities
$32.1M
$12.0M
$51.6M
Net cash provided by (used in) operating activities of continuing operations
-$117.4M
$323.9M
$246.1M
Net cash provided by (used in) operating activities of discontinued operations
$1.2M
-$21.8M
$2.4M
Net cash provided by (used in) operating activities
-$116.2M
$302.1M
$248.4M
Proceeds from sale of property and equipment
$74.0K
$7.0K
$38.0K
Purchases of property and equipment
-$4.4M
-$5.3M
-$7.7M
Cash used in acquisitions, net of cash acquired
$0
-$124.9M
-$54.2M
Net cash (used in) investing activities of continuing operations
-$4.4M
-$130.2M
-$61.8M
Net cash provided by (used in) investing activities of discontinued operations
$164.2M
$1.3M
-$156.0K
Net cash provided by (used in) investing activities
$159.8M
-$128.9M
-$62.0M
Borrowings of non-recourse and recourse notes payable
$0
$0
$252.0M
Repayments of non-recourse and recourse notes payable
$0
$0
-$258.0M
Proceeds from issuance of common stock
$3.6M
$3.6M
$3.0M
Repurchase of common stock
-$30.6M
-$46.9M
-$9.9M
Dividend payments
-$19.7M
$0
$0
Payments to settle liabilities for acquisitions
$0
-$2.3M
$0
Net borrowings (repayments) on floor plan facility
$30.2M
-$15.6M
-$47.4M
Net cash (used in) financing activities of continuing operations
-$16.5M
-$61.2M
-$60.3M
Net cash provided by (used in) financing activities of discontinued operations
-$6.4M
$23.6M
$23.7M
Net cash (used in) financing activities
-$22.9M
-$37.6M
-$36.6M
Effect of exchange rate changes on cash
$751.0K
$652.0K
$62.0K
Net increase in cash and cash equivalents
$21.4M
$136.4M
$149.9M
Cash paid for interest
$102.0K
$143.0K
$1.5M
Cash paid for amounts included in the measurement of lease liabilities
$6.6M
$5.8M
$4.1M
Purchases of property and equipment
-$54.0K
-$214.0K
-$279.0K
Consideration for acquisitions
$0
$0
-$2.3M
Vesting of share-based compensation
$10.3M
$11.9M
$9.5M
Repurchase of common stock
-$567.0K
$0
$0
New operating lease assets obtained in exchange for lease obligations
EPlus Inc sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What EPlus Inc reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
As of March 31, 2026, we leased a total of 497 thousand square feet of office and warehouse space across 22 properties, primarily in the US, that are used across all our business segments. Our leases expire at varied dates over the next 10 years. On April 1, 2026, we signed an 8-year lease for a new headquarters in Herndon, Virginia. We have certain employees that work at customer sites, their homes, or other locations. Additionally, we utilize coworking spaces in certain cities.
The rest of Item 2
We do not anticipate any difficulty in retaining occupancy through lease renewals, month-to-month occupancy, or replacing leased properties with equivalent properties. We believe that suitable additional or substitute leased properties will be available as required.
Since its IPO, ePlus has acquired 27 businesses within the United States. Currently, it has three operating subsidiaries which are combined into two business segments:
The Technology Sales Business Unit – ePlus Technology, inc., which is the IT sales and services company, combined with ePlus Systems, inc., the software company.
The Financing Business Unit – ePlus Group, Inc., which is the leasing and business process outsourcing company; ePlus Group was sold to the Marlin Leasing Corporation (PEAC Solutions), a portfolio company of HPS Investment Partners, LLC, on June 30, 2025.
From Wikipedia’s article on EPlus Inc, shared under CC BY-SA 4.0.3
Leadership
Who has led EPlus Inc, and when. Pick a name to see everywhere that person has worked.
ePlus’ operations are directed from its headquarters in Herndon, Virginia. The company has over 2,100 employees working in 30+ locations across the U.S., U.K., Europe, India and Singapore.
Since its IPO, ePlus has acquired 27 businesses within the United States. Currently, it has three operating subsidiaries which are combined into two business segments:
The Technology Sales Business Unit – ePlus Technology, inc., which is the IT sales and services company, combined with ePlus Systems, inc., the software company.
The Financing Business Unit – ePlus Group, Inc., which is the leasing and business process outsourcing company; ePlus Group was sold to the Marlin Leasing Corporation (PEAC Solutions), a portfolio company of HPS Investment Partners, LLC, on June 30, 2025.
Nov 12, 2024Reported quarterly or annual results58
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
359 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 48 major events, 185 insider forms, 30 large holders, 76 other. The latest 20:
52 open-market trades by officers, directors and large owners since October 2021: 0 buys and 52 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
Year
Executive
Age
Salary
Total pay
2026
Mark P. Marron – President and Chief Executive Officer
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
From the cover page of the 10-K filed May 28, 2026 (Section 12(b) of the Exchange Act).18
Risk factors and legal proceedings
The risks EPlus Inc names in Item 1A of its 10-K filed May 28, 2026: 27 risks under these headings, as written.18
Risks Specific to our Business
If one or more of our large volume customers significantly reduces purchasing from us or there is a material change in profitability of sales to our customers, our results of operations may be affected.
We may fail to innovate, develop, or sell new solutions which align with changing market and customer demand, and we may fail to provide our services to a professional standard, and we face substantial competition from other companies, including certain larger, well-established companies.
We rely on a small number of key vendors and third parties, and do not have long-term supply or guaranteed price agreements or assurance of inventory availability from our vendors.
Breaches of data security and the failure to protect our information technology systems and confidential information from cybersecurity threats, our inability to maintain compliance with data privacy laws and regulations, or misuse of our customers’ or employees’ information could adversely impact our business.
We may not be able to hire and/or retain personnel that we need.
Any financial losses of our customers that inhibit their ability to pay us may have an adverse impact on our operating results and financial condition.
We may experience a reduction in incentives offered to us and earned by us from our vendors that would affect our earnings.
If we are unable to identify acquisition candidates, or perform sufficient due diligence prior to completing an acquisition, or fail to successfully integrate a completed acquisition, or identify an opportunity for or successfully complete an asset disposition, our earnings may be affected.
The terms of our WFCDF Credit Facility or loss thereof may restrict our current and future operations, which could adversely affect our ability to respond to changes in our business and to manage our operations.
Issues relating to the use or capabilities of AI, including legal, social, ethical, and accuracy issues, in hardware, software and services offerings may result in reputational harm and liability and increased costs.
We may not have adequately designed or maintained our IT platforms for internal use or solutions we offer to our customers or have adequate or competent IT personnel to support our business, or we may have inadequate training and technology safeguards to prevent a cyber event.
The other 16 risks
Our results of operations are subject to financial losses due to translation of foreign currency.
A natural disaster or other adverse event at one of our primary configuration centers, warehouses, data centers, or a third-party provider location could negatively impact our business.
We may be required to take impairment charges for goodwill or other intangible assets related to acquisitions.
Actual or anticipated epidemics, pandemics, outbreaks, or other public health crises may adversely affect our customers’ and vendors’ financial condition and the operations of our business.
We may not achieve the operational and financial results that we anticipated after completing the sale of our financing business.
Risks Related to the Economy and our Industry
General economic weakness may harm our operating results and financial condition.
We depend on continued competitive innovations in hardware, software, and service offerings by our vendors, and our ability to partner with new and emerging technology providers and adapt to changes in the IT industry.
Risks Related to Laws and Regulations
Failure to comply with new laws or changes to existing laws may adversely impact our business.
We may not adequately protect ourselves through our contract vehicles, or our insurance policies may not be adequate to address potential losses or claims.
Failure to comply with our public-sector contracts or applicable laws and regulations could result in, among other things, termination, fines or other liabilities, and changes in procurement regulations could adversely impact our business.
We face risks of claims from third parties for intellectual property infringement, including counterfeit products, which could harm our business.
We may be unable to protect our intellectual property and costs to protect our intellectual property may affect our earnings.
Risks Related to Ownership of our Stock
Our common stock price may be volatile and may decline regardless of our operating performance, and holders of our common stock could lose a significant portion of their investment.
There can be no assurance that we will continue to declare and pay dividends to our common stockholders.
There can be no assurance that we will continue to repurchase any of our common stock under our share repurchase program.
Future offerings of debt or equity securities, which would rank senior to our common stock, may adversely affect the market price of our common stock.
Legal proceedings
LEGAL PROCEEDINGS
For a description of our material pending legal proceedings, please refer to Note 11, “Commitments and Contingencies” in the Notes to the Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K.
