ePlus inc., together with its subsidiaries, provides information technology (IT) solutions that enable organizations to optimize IT environment and supply chain processes in the United States and internationally. The company sells third-party hardware, perpetual and subscription software, and maintenance; and software assurance and other third-party services. It also offers professional services, such as staff augmentation, project management, cloud consulting, Al advisory, consulting, security and collaboration solution, warehouse, configuration, and logistic service, as well as in the spaces of digital signage, EV charging solution, loss prevention and security, store opening, remodel, and store closing; and managed services comprising enhanced maintenance support or ePlus Lifecycle-Services Support, service desk, storage-as-a-service, azure recover, cloud managed, and managed security service, as well as managed service for infrastructure and cloud. In addition, the company offers financing arrangements, including sales-type and operating leases, loan, and consumption-based financing arrangement, as well as underwriting and management, and disposal of IT equipment and assets; and financing operations, such as sales, pricing, credit, contract, accounting, risk management, and asset management. Further, it finances IT equipment, communication-related equipment, medical equipment, industrial machinery and equipment, office furniture and general office equipment, transportation equipment, and other general business equipment; and provides financing solutions, including front-end processing, lifecycle and asset ownership, and end-of-life services. The company serves telecom, media and entertainment, technology, state and local government, educational institutions, healthcare, and financial services. The company was formerly known as MLC Holdings, Inc. and changed its name to ePlus inc. in 1999. ePlus inc. was founded in 1990 and is headquartered in Herndon, Virginia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2026
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2026 | $2.4B | $201M | $133M | $-121M | 12.4% | 22.1% | 26.8% |
| 2025 | $2.0B | $133M | $105M | $297M | 10.8% | -8.2% | -11.4% |
| 2024 | $2.2B | $159M | $118M | $241M | 13.1% | 5.3% | -1.2% |
| 2023 | $2.1B | $186M | $119M | $-25M | 15.3% | - | - |
| 2022 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,067.72 | 2,178.25 | 2,000.17 | 2,442.55 |
| Operating Revenue | - | 2,067.72 | 2,178.25 | 2,000.17 | 2,442.55 |
| Cost Of Revenue | - | 1,550.19 | 1,666.51 | 1,488.05 | 1,826.47 |
| Gross Profit | - | 517.52 | 511.74 | 512.12 | 616.08 |
| Operating Expense | - | 347.23 | 376.51 | 412.43 | 449.94 |
| Selling General And Administration | - | 333.52 | 355.56 | 386.68 | 423.39 |
| Total Expenses | - | 1,897.42 | 2,043.01 | 1,900.48 | 2,276.40 |
| Operating Income | - | 170.30 | 135.24 | 99.69 | 166.14 |
| Total Operating Income As Reported | - | 166.16 | 133.81 | 99.69 | 166.14 |
| EBITDA | - | 185.70 | 159.17 | 133.31 | 201.05 |
| Normalized EBITDA | - | 185.70 | 159.17 | 133.31 | 201.05 |
| EBIT | - | 167.11 | 136.67 | 106.12 | 173.44 |
| Interest Expense | - | 4.13 | 1.43 | 0 | 0 |
| Net Interest Income | - | -4.13 | -1.43 | 0 | 0 |
| Other Non Operating Income Expenses | - | -3.19 | 1.43 | 6.44 | 7.29 |
| Other Income Expense | - | -3.19 | 1.43 | 6.44 | 7.29 |
| Interest Expense Non Operating | - | 4.13 | 1.43 | 0 | 0 |
| Net Non Operating Interest Income Expense | - | -4.13 | -1.43 | 0 | 0 |
| Pretax Income | - | 162.97 | 135.24 | 106.12 | 173.44 |
| Tax Provision | - | 43.62 | 37.91 | 29.68 | 49.32 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 119.36 | 97.33 | 76.44 | 124.12 |
| Net Income From Continuing And Discontinued Operation | - | 119.36 | 117.98 | 104.58 | 132.64 |
| Net Income From Continuing Operation Net Minority Interest | - | 119.36 | 97.33 | 76.44 | 124.12 |
| Net Income | - | 119.36 | 117.98 | 104.58 | 132.64 |
| Net Income Common Stockholders | - | 119.36 | 117.98 | 104.58 | 132.64 |
| Net Income Including Noncontrolling Interests | - | 119.36 | 117.98 | 104.58 | 132.64 |
| Normalized Income | - | 119.36 | 97.33 | 76.44 | 124.12 |
| Diluted NI Availto Com Stockholders | - | 119.36 | 117.98 | 104.58 | 132.64 |
| Basic Average Shares | - | 26.57 | 26.61 | 26.50 | 26.23 |
| Diluted Average Shares | - | 26.65 | 26.72 | 26.67 | 26.37 |
| Reconciled Depreciation | - | 18.59 | 22.50 | 27.18 | 27.62 |
| Reconciled Cost Of Revenue | - | 1,545.31 | 1,664.96 | 1,486.62 | 1,825.40 |
| Net Income Discontinuous Operations | - | - | 20.66 | 28.14 | 8.52 |
| Depreciation Amortization Depletion Income Statement | - | 13.71 | 20.95 | 25.75 | 26.54 |
| Depreciation And Amortization In Income Statement | - | 13.71 | 20.95 | 25.75 | 26.54 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| ePlus inc.this co. | PLUS | $2.1B | 15.95β discount | 1.98 | 12.4% | 9.08 |
| Digi International Inc. | DGII | $2.6B | 63.99 | 4.10 | 6.4% | 30.51 |
| Rogers Corporation | ROG | $2.6B | -42.10 | 2.18 | -5.2% | 233.34 |
| Ichor Holdings, Ltd. | ICHR | $2.5B | - | 3.73 | -8.0% | - |
| Calix, Inc. | CALX | $2.4B | 136.74 | 2.85 |
| - |
| - |
| - |
| - |
| 2.1% |
| 59.89 |
| CSG Systems International, Inc. | CSGS | $2.3B | 41.17 | 8.11 | 19.7% | 13.98 |
| Alarm.com Holdings, Inc. | ALRM | $2.2B | 16.79 | 2.62 | 15.6% | 10.13 |
| SPS Commerce, Inc. | SPSC | $2.1B | 22.07 | 2.11 | 9.6% | 10.85 |
| Photronics, Inc. | PLAB | $1.9B | 13.63 | 1.58 | 11.6% | 4.58 |
| Peer Median | - | 22.07 | 2.73 | 8.0% | 13.98 | |