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Forensic Analysis · Durable-Goods Wholesale · as of Nov 8, 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.

C · Mixed — selective
Forensic grade
Safe
Financial health
6.8
Distress distance
Watch
Earnings quality
1
Forensic signals
13.0%
ROE
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 (auditor quality, say on pay, board independence, going concern). 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 C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 6.8, placing it in the Safe zone. 1 forensic signal was 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.

Key fundamentals

Latest Revenue$2.44B
Revenue Growth YoY+22.1%
Revenue CAGR (2yr)+5.9%
Net Margin5.4%
Free Cash Flow-$120.7M
Return on Equity13.0%
Debt / Equity0.04x

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Data from SEC EDGAR public filings · metrics as of Nov 8, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.