Forensic Analysis · Trading Companies & Distributors · as of Aug 10, 2026

Eplus Inc (PLUS)

A forensic read on Eplus Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound but lumpy

Forensic grade

Safe

Financial health

8.6

Distress distance

Watch

Earnings quality

Forensic signals

18.0

P / E (ttm)

12.4%

ROE

$2.4B

Market cap

1.20%

Dividend yield

22.1%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Eplus Inc earns a B (Sound but lumpy) forensic quality grade, and its balance-sheet distress test reads 8.6, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by shareholder returns.

What the filings flag

FCF ($121M)

FY2026

Shareholder returns. Returned $50M to shareholders (buybacks + dividends) in FY2026, but free cash flow was ($121M) after capex — there was no free cash flow to fund the payout from at all, and operating cash flow itself was negative or zero that year too. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.

-0.4%/yr

FY2023–FY2026

Share count. Diluted share count changed -1% over the last 3 years to FY2026 (-0.4%/yr). Roughly flat — buybacks ($31M) are about offsetting stock comp ($12M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.

Key fundamentals

Latest Revenue$2.44B

Revenue Growth YoY+22.1%

Revenue CAGR (3yr)+5.7%

Net Margin5.4%

Free Cash Flow-$120.7M

Return on Equity12.4%

Debt / Equity0.04x

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Data from SEC EDGAR public filings · metrics as of Aug 10, 2026. Forensic signals flag probability, not certainty.