PLUSePlus inc.
Is the business good?
More warning than reassurance: thin cash backing (0.5×) and margins compressing.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit outpaces operating cash flow, watch accruals and working capital. Conversion is worsening vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
A balanced mix of margins, efficiency, and leverage. ROE 12% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is PLUS?
ePlus inc. earns 21% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 12 points above what the capital costs: growth creates value
- Operating margin
- 6.9%
Operating margin · Software - Application median 6.4% · 12 months to Q1 2027
- Cash conversion
- 0.49×
Cash conversion · 1.32× a year ago · the operating profit has not turned into cash yet
- Share count, year on year
- −1.2%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2021 | 6.8% |
| FY2022 | 8.1% |
| FY2023 | 8.0% |
| FY2024 | 6.1% |
| FY2025 | 5.0% |
| FY2026 | 6.8% |
Details›
- Gross margin12 months to Q1 2027
- 25%
- Operating margin12 months to Q1 2027
- 6.9%
- Net margin12 months to Q1 2027
- 5.1%
- Free cash flow margin
- 2.2%
- Revenue, trailing twelve months
- $2.45B
- Free cash flow, trailing twelve months
- $55M
- Net income, trailing twelve months
- $125M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 21%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Software, Application
Ranks #18 of 96 by RyuScore