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Electronics & computer distribution · Technology · Fiscal year ends Mar 31
EPLUS reported revenue of $2.4B in the fiscal year ended Mar 2026, up 22.1% from the year before. Operating income was $166M, an operating margin of 6.8%, and net income was $133M. Operating cash flow of −$116M less capital expenditure of $4M left free cash flow of −$121M.
Ranks among the 7 electronics & computer distribution companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 1,821 | 2,068 | 2,178 | 2,000 | 2,443 |
| Cost of revenue | 1,360 | 1,550 | 1,667 | 1,488 | 1,826 |
| Gross profit | 461 | 518 | 512 | 512 | 616 |
| Selling, general & admin | 297 | 334 | 356 | 387 | 423 |
| Operating incomederived: revenue − total costs | 147 | 166 | 134 | 99.7 | 166 |
| Interest expense | 1.9 | 4.1 | 3.8 | 0.0 | 0.0 |
| Pre-tax income | 147 | 163 | 135 | 106 | 173 |
| Income tax | 41.3 | 43.6 | 37.9 | 29.7 | 49.3 |
| Net income | 106 | 119 | 118 | 105 | 133 |
| Diluted EPS | 3.93 | 4.48 | 4.41 | 3.93 | 5.03 |
| Diluted shares | 26.9 | 26.7 | 26.7 | 26.7 | 26.4 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 155 | 103 | 253 | 389 | 411 |
| Receivables | 430 | 504 | 645 | 508 | 650 |
| Inventory | 155 | 243 | 140 | 120 | 201 |
| Current assets | 897 | 1,095 | 1,274 | 1,358 | 1,428 |
| Net PP&E | 7.9 | 11.9 | 12.9 | 15.6 | 12.8 |
| Goodwill | 127 | 136 | 162 | 203 | 203 |
| Total assets | 1,166 | 1,415 | 1,653 | 1,879 | 1,801 |
| Payables | 136 | 220 | 316 | 324 | 265 |
| Deferred revenue | 86.5 | 114 | 135 | 154 | 157 |
| Current liabilities | 460 | 561 | 657 | 799 | 638 |
| Long-term debt | 5.8 | 9.5 | 12.9 | 38.8 | – |
| Total liabilities | 505 | 633 | 752 | 908 | 732 |
| Shareholders' equity | 661 | 776 | 897 | 971 | 1,069 |
| Backlog (remaining obligations) | 74.4 | 112 | 150 | 0.2 | 0.2 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | −20.6 | −15.4 | 248 | 302 | −116 |
| Capital expenditure | – | – | 7.7 | 5.3 | 4.4 |
| Free cash flow | – | – | 241 | 297 | −121 |
| Depreciation & amortisation | 24.3 | 18.6 | 22.5 | 27.2 | 27.6 |
| Stock-based compensation | 7.1 | 7.8 | 9.5 | 10.5 | 12.1 |
| Acquisitions | 0.0 | 13.3 | 54.2 | 125 | 0.0 |
| Share buybacks | 13.6 | 7.2 | 9.9 | 46.9 | 30.6 |
| Dividends paid | – | – | 0.0 | 0.0 | 19.7 |
| Dividend per share | – | – | – | – | 0.75 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 13.5% | 5.3% | −8.2% | 22.1% |
| Operating income growth (YoY) | – | 12.8% | −19.5% | −25.5% | 66.7% |
| EPS growth (YoY) | – | 14.0% | −1.6% | −10.9% | 28.0% |
| Gross margin | 25.3% | 25.0% | 23.5% | 25.6% | 25.2% |
| Operating margin | 8.1% | 8.0% | 6.1% | 5.0% | 6.8% |
| Net margin | 5.8% | 5.8% | 5.4% | 5.2% | 5.4% |
| Return on equityBlank when equity is negative | 16.0% | 15.4% | 13.1% | 10.8% | 12.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 20.9% | 19.5% | 13.4% | 9.2% | 14.3% |
| Free cash flow margin | – | – | 11.1% | 14.8% | −4.9% |
| Cash conversion (CFO ÷ net income) | −0.19x | −0.13x | 2.11x | 2.89x | −0.88x |
| Receivable days | 86 | 89 | 108 | 93 | 97 |
| Inventory days | 42 | 57 | 31 | 30 | 40 |
| Payable days | 37 | 52 | 69 | 79 | 53 |
| Interest cover | 77.4x | 40.2x | 35.4x | – | – |
| Debt ÷ equity | 0.01x | 0.01x | 0.01x | 0.04x | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −150 | −93.6 | −240 | −351 | – |
| Current ratio | 1.95x | 1.95x | 1.94x | 1.70x | 2.24x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.