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ePlus inc (PLUS) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of ePlus inc $65.51, price $92.03, upside -28.8%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Technology · US · ISIN US2942681071

EI ePlus inc logo Broad data Sep 24, 2026

ePlus inc

PLUS · US

Overvalued / MonitorQuality is not strong enough to offset the price risk.

!Fair value $65.51 · Overvalued (−29%)
!Quality 61/100
!Expensive Growth (revenue 5y +9.3 %/yr)
!Thin margins · 5.4% net margin (TTM)
!Low debt · negative free cash flow
·0.81% dividend yield
✓Ranks above peers (11/14)
!Narrow moat 43/100
!Weak on dividend: 16 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$100.39 $40.14 Fair Value $65.51 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range $40.14 – $100.39 · fair‑value band $46.29 – $94.95 · the $92.03 price screens above the $65.51 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

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 operates through three segments: Product Services, Professional Services, and Managed Services segments.

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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 operates through three segments: Product Services, Professional Services, and Managed Services segments. It sells third-party hardware, perpetual and subscription software, and maintenance; and software assurance and other third-party services as well as offers internet-based business-to-business supply chain management solutions for IT products. The company 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. It serves telecommunications, 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.

Stock analysis

ePlus inc (PLUS) currently trades at $92.03, while our model-based Fair Value estimate is $65.51, implying the stock looks roughly 40.5% overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of $123.02 per share, and 7 of the 17 models we run sit above the $92.03 price.

Bear case: the Dividend Discount group reads lowest at $11.27, and 10 of the 17 models stay below the price. Evidence for this calculation is high.

Scenario range: $46.29 (bear) to $94.95 (bull), the price of $92.03 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 61/100 (solid quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

ePlus inc reported revenue of $2.4B in FY2026 versus $1.8B in FY2022, a compound +7.6%/yr. Reported net income was $129M in FY2026, compounding +5.1%/yr from FY2022.

Key figures

Market cap $2.4B · P/E ratio 19.5 · P/S ratio 1.03 · EPS (TTM) $4.71 · Dividend yield 0.8% · Net margin 5.3% · Return on equity 12.2% · Return on assets (EBIT) 10.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 45 out of 100 (low confidence).

What moves the price

The share trades about 5% below its 52-week high and 33% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −13% fair-value upside, at −29%, PLUS screens richer than that median.

Fair Value models

Bear $46.29 Fair Value $65.51 Bull $94.95
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then ($1.92 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Owner Earnings $81.10 $123.02 $188.49 76
EPV $55.38 $61.73 $67.21 74
Residual Income $36.91 $43.44 $90.15 72
All 17 models by family
DCF Models
Owner Earnings $81.10 $123.02 $188.49 76
Earnings-Based
Graham-Dodd $33.19 $127.43 $172.67 64
Lynch FV $31.09 $44.42 $57.74 61
PEG = 1.0 $31.09 $44.42 $57.74 57
EPV $55.38 $61.73 $67.21 74
Dividend Discount
Gordon GGM $6.54 $13.04 $19.74 67
DDM Multi-Stage $6.54 $11.27 $13.76 67
Multiples
P/E Multiple $102.50 $136.67 $170.83 63
P/S Multiple $62.23 $82.98 $103.72 58
P/B Multiple $62.23 $82.98 $103.72 55
EV/EBIT $128.45 $166.22 $203.99 66
EV/EBITDA $114.24 $147.28 $180.32 67
EV/Revenue $72.42 $96.97 $121.52 54
Asset-Based
NCAV (Graham) $20.25 $27.14 $40.50 54
Economic Profit
Residual Income $36.91 $43.44 $90.15 72
ROIC Compounder $59.11 $72.25 $88.74 72
Growth Earnings
Growth-Adj P/E $67.62 $96.60 $125.57 67

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Quality Score breakdown

Overall quality 61/100

Of which business quality 59 · Market factors (momentum, volatility) 63

Profitability 58
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 1
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 88
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+18.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.3%
Start year 2021 (pandemic). Over 10 years: +7.3% a year
Revenue growth 30 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.4%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+12.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.0%
Dividend (yield on the price)0.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.12% vs 12%, steady
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.7% → 7%
Start year 2021 (pandemic)

PLUS screens 40% overvalued. Compare with SAP SE →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Application · 710 stocks

Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 61 · Above median
Fair Value upside −29% · Below median
Profitability
Return on equity (TTM) 12% · Above median
Return on assets 6% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 6% · Above median
Growth and dividend
Revenue growth 22% · Top 25%
Dividend yield (TTM) 0.8% · Below median
Balance sheet
Debt / equity 0.01× · Below median

Valuation Multiplesvs Software - Application median · lower = cheaper

P/E (TTM) 19.5× · Cheaper than median
P/B 2.27× · Pricier than median
P/S (TTM) 0.99× · Cheaper than median
EV/EBITDA 10.5× · Cheaper than median
PEG 1.03× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 26
FUTURE (revenue growth)100 · sector 39
PAST (return on equity)49 · sector 16
HEALTH (low debt)99 · sector 97
DIVIDEND (yield)16 · sector 33

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SAP SE SAP €182.32 €159.06 −13%
Shopify Inc SHOP $147.74 $64.36 −56%
Uber Technologies, Inc UBER $69.89 $104.82 +50%
Salesforce, Inc CRM $233.28 $344.41 +48%
ServiceNow, Inc NOW $137.00 $150.70 +10%
Cadence Design Systems, Inc CDNS $302.95 $225.14 −26%
Snowflake Inc SNOW $336.59 $75.08 −78%
Datadog, Inc DDOG $247.48 $32.92 −87%
Adobe Inc ADBE $238.25 $454.04 +91%
Automatic Data Processing, Inc ADP $269.64 $177.51 −34%

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ePlus inc · Fair Value
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Cite: Fair Value Calculator (2026). "ePlus inc Fair Value". https://www.fairvalue-calculator.com/stock/PLUS

Frequently asked questions

Is ePlus inc (PLUS) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $65.51 versus a price of $92.03, about −29% upside (overvalued).
What is the fair value of PLUS?
Our model-based fair value for ePlus inc is $65.51 (as of Sep 24, 2026), built from audited fundamentals. The current price: $92.03.
What is the quality score of PLUS?
ePlus inc has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ePlus inc (PLUS)?
Our model-based price target is the fair value of $65.51 (as of Sep 24, 2026) from 17 valuation models. Cautious scenario $46.29, optimistic scenario $94.95. It is a calculation from audited fundamentals, not an analyst target.
What is the ePlus inc stock forecast for 2026?
Our models put fair value at $65.51, about −29% upside versus a price of $92.03 (overvalued). Cautious scenario $46.29, optimistic scenario $94.95. The calculation is refreshed regularly with new filings.
What is the revenue of ePlus inc (PLUS)?
ePlus inc reported trailing-twelve-month revenue of about $2.4B (latest available figure, as of Sep 24, 2026).
Does ePlus inc pay a dividend?
ePlus inc currently shows a dividend yield of about 0.81% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of ePlus inc (PLUS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ePlus inc it is $65.51 per share (as of Sep 24, 2026), against a price of $92.03. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is ePlus inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, PLUS trades above its calculated fair value: price $92.03, fair value $65.51, a gap of about −29% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PLUS?
No. The price is what the market pays today ($92.03); the fair value is what the company's own numbers justify ($65.51). For ePlus inc the two are $26.52 per share apart. That gap is exactly why we show both numbers side by side.
How much is ePlus inc worth?
The market values ePlus inc at about $2.4B (market capitalisation, as of Sep 24, 2026). Per share that is $92.03; our models calculate a fair value of $65.51 per share.
What do the bullish and bearish scenarios say about PLUS?
Our models span a range for ePlus inc: cautious scenario $46.29, base $65.51, optimistic $94.95 per share (as of Sep 24, 2026, price $92.03). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PLUS?
ePlus inc trades at a price-to-earnings ratio of 19.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $65.51 is built from several models across several years. Other multiples: PEG 1.0, P/B 2.3, P/S 1.0, EV/EBITDA 10.5.
What is the PEG ratio of PLUS?
The PEG ratio of ePlus inc is 1.03 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of ePlus inc (PLUS)?
Balance-sheet figures for ePlus inc (as of Sep 24, 2026): return on equity 12.2%, debt of 0.01 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is PLUS from its 52-week high?
ePlus inc trades at $92.03, about 5% below its 52-week high of $97.05 and 33% above the low of $68.98 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $65.51 is for.
Which stocks are comparable to ePlus inc?
From the same area (Technology) we also value SAP SE, Shopify Inc, Uber Technologies, Inc, Salesforce, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ePlus inc stock attractive at the current price?
The data as of Sep 24, 2026: price $92.03, calculated fair value $65.51 (−29%), Quality Score 61/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PLUS calculated?
We run ePlus inc through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $65.51, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. ePlus inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ePlus inc (PLUS)?
The closing price on Sep 23, 2026 was $92.03. Our model-based fair value is $65.51, about −29% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ePlus inc right now?
Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($46.29 to $94.95) leaves room in how you read the outcome.
Where does the earnings growth of ePlus inc (PLUS) come from?
Earnings per share at ePlus inc grew +11.8 % a year from 2015 to 2026. Broken into its drivers: revenue per share +8.0 %, EBIT margin +1.0 %, tax rate +2.3 %, residual (interest, one-offs) +0.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of ePlus inc

How large is the market capitalisation of ePlus inc (PLUS)?
The market capitalisation of ePlus inc is $2.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ePlus inc (PLUS)?
The price-to-sales ratio of ePlus inc is 1.03 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ePlus inc (PLUS)?
Earnings per share at ePlus inc are $4.71 (price ÷ EPS = P/E 19.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ePlus inc (PLUS)?
The dividend yield of ePlus inc is 0.8% (payout 15.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of ePlus inc (PLUS)?
The net margin of ePlus inc is 5.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ePlus inc (PLUS)?
The return on equity (ROE) of ePlus inc is 12.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ePlus inc (PLUS)?
On an EBIT basis the return on assets of ePlus inc is 10.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ePlus inc (PLUS)?
The operating margin of ePlus inc is 6.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ePlus inc (PLUS)?
Revenue at ePlus inc is growing +21.7% versus a year earlier (3y avg +5.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ePlus inc (PLUS)?
Earnings per share at ePlus inc are growing +15.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ePlus inc (PLUS) generate?
The free cash flow of ePlus inc is −$121M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does ePlus inc (PLUS) hold?
ePlus inc holds more cash than debt, $395M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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