Eplus (PLUS) FY2020 results: revenue $1.6 billion, up 15.7% on the year
Eplus Inc. (PLUS) reported revenue of $1.6 billion for fiscal 2020, the year ended 31 March 2020, up 15.7% on the year before. Net income was $69 million, up 9.3%, and diluted earnings per share $2.58. The figures are the company's own, from the 10-K it filed with the SEC on 22 May 2020.
Revenue
$1.6 billion
+15.7% on the year
FY2013FY2020
Operating margin
6.0%
5.8% a year earlier
FY2013FY2020
Net income
$69 million
+9.3% on the year
FY2013FY2020
Diluted EPS
$2.58
+10.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,588
1,373
1,419
+15.7%
Cost of revenue
1,197
1,042
1,095
+14.9%
Gross profit
391
330
323
+18.4%
Gross margin
24.6%
24.1%
22.8%
Selling, general and administrative
279
237
228
+17.8%
Operating income
95.3
79.5
84.2
+19.8%
Operating margin
6.0%
5.8%
5.9%
Interest expense
2.6
1.9
1.2
+32.1%
Pre-tax income
96.0
86.2
83.9
+11.3%
Income tax
26.9
23.0
28.8
+16.7%
Effective tax rate
28.0%
26.7%
34.3%
Net income
69.1
63.2
55.1
+9.3%
Net margin
4.3%
4.6%
3.9%
Diluted EPS
$2.58
$2.33
$1.98
+10.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-74.2
39.4
82.8
Cash from investing
-20.3
-96.2
-57.7
Cash from financing
101
18.5
-16.8
+445.3%
Depreciation and amortisation
19.2
18.6
15.8
+2.8%
Share-based compensation
8.0
7.2
6.5
+9.8%
Buybacks
14.4
18.8
35.2
-23.1%
Dividends paid
0.0
0.0
0.0
Diluted shares, weighted
27m
27m
28m
-1.2%
Shares outstanding at period end
27m
27m
28m
-0.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
486
424
373
+14.6%
Debt
72.8
48.6
52.3
+49.6%
Operating lease liabilities
8.3
0.0
n/a
Other liabilities
342
313
331
+9.1%
Total liabilities and equity
909
786
755
+15.6%
Fixed assets
7.2
7.3
7.5
-2.2%
Goodwill
118
111
76.6
+6.6%
Intangible assets
34.5
38.9
26.3
-11.5%
Cash and equivalents
86.2
79.8
118
+8.0%
Receivables
375
300
268
+25.0%
Inventory
50.3
50.5
39.9
-0.4%
Other assets
238
199
219
+19.6%
Total assets
909
786
755
+15.6%
10-K for the year ended 31 March 2020, filed 22 May 2020: the filing.