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Eplus Inc key statistics and ratios

In fiscal 2026, Eplus Inc had return on equity of 13.0%, an operating margin of 6.8% and a current ratio of 2.24. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Mar 20102011Mar 20112012Mar 20122013Mar 20132014Mar 20142015Mar 20152016Mar 20162017Mar 20172018Mar 20182019Mar 20192020Mar 20202021Mar 20212022Mar 20222023Mar 20232024Mar 20242025Mar 20252026Mar 2026LTMJun 2026
Gross margin25.4%23.2%21.8%20.8%20.5%21.4%21.8%22.5%22.8%24.1%24.6%25.1%25.3%25.0%23.5%25.6%25.2%25.2%
Operating margin———6.0%5.7%6.2%6.3%6.4%5.9%5.8%6.0%6.8%8.1%8.0%6.1%5.0%6.8%6.9%
Net margin2.3%3.3%2.8%3.5%3.3%4.0%3.7%3.8%3.9%4.6%4.3%4.7%5.8%5.8%5.4%5.2%5.4%5.1%
Free-cash-flow margin——————————————11.1%14.8%−4.9%—
Return on equity6.9%12.0%10.8%15.2%14.0%16.8%15.0%15.2%15.3%15.9%15.2%14.2%17.3%16.6%14.1%11.2%13.0%11.7%
Return on assets—6.1%5.7%8.0%7.1%8.2%7.6%7.4%7.4%8.2%8.1%7.5%9.4%9.2%7.7%5.9%7.2%6.8%
Asset turnover—1.852.012.252.132.042.031.961.901.781.871.581.621.601.421.131.331.34
Current ratio———1.881.741.711.751.591.611.701.681.691.951.951.941.702.242.13
Debt to equity0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%2.3%0.9%1.2%4.0%6.8%—0.0%
Interest cover (operating income ÷ interest)———————55.6x70.5x40.8x37.0x53.0x77.4x40.2x35.4x———
Effective tax rate39.5%41.5%41.0%40.7%41.3%41.5%40.9%41.3%34.3%26.7%28.0%30.4%28.1%26.8%28.0%28.0%28.4%28.7%
SG&A as % of revenue—————14.6%14.9%15.4%16.1%17.3%17.6%17.3%16.3%16.1%16.3%19.3%17.3%17.3%
Capital spending as % of revenue——————————————0.4%0.3%0.2%—
Free cash flow ÷ net income——————————————204.1%283.9%−91.0%—
Dividends ÷ net income—0.0%0.0%57.7%0.3%0.2%0.2%0.0%0.0%—————0.0%0.0%14.8%21.4%
Dividends and buybacks ÷ free cash flow——————————————4.1%15.8%——

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $1.9bn
Short-term assets $1.5bnLonger-term assets $366m
What it owes, and who funded it · $1.9bn
Short-term liabilities $704mLonger-term liabilities $91mShareholders' equity $1.1bn
  • Short-term assets cover short-term liabilities $1.5bn of assets due within a year against $704m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.5bn short-term assets against $91m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Eplus Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

52 /100

Moderate moat

How hard Eplus's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 11 / 20

    Cash operating profit has been a median 9.0% of total assets over 7 years.

  • Pricing power 9 / 20

    Gross margin has been a median 24.8%, moving by 1.1 percentage points (standard deviation) across 10 years.

  • Durability 11 / 20

    Operating margin has been a median 6.3%; its worst year was 5.3%.

  • Cash conversion 9 / 20

    Free cash flow was positive in 8 of 10 years, at a median 1.8% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 2.9% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (57 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Eplus Inc's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Eplus Inc.