Eplus (PLUS) FY2021 results: revenue $1.6 billion, down 1.3% on the year
Eplus Inc. (PLUS) reported revenue of $1.6 billion for fiscal 2021, the year ended 31 March 2021, down 1.3% on the year before. Net income was $74 million, up 7.7%, and diluted earnings per share $2.77. The figures are the company's own, from the 10-K it filed with the SEC on 21 May 2021.
Revenue
$1.6 billion
-1.3% on the year
FY2014FY2021
Operating margin
6.8%
6.0% a year earlier
FY2014FY2021
Net income
$74 million
+7.7% on the year
FY2014FY2021
Diluted EPS
$2.77
+7.6% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
1,568
1,588
1,373
-1.3%
Cost of revenue
1,175
1,197
1,042
-1.9%
Gross profit
394
391
330
+0.6%
Gross margin
25.1%
24.6%
24.1%
Selling, general and administrative
271
279
237
-2.8%
Operating income
106
95.3
79.5
+11.6%
Operating margin
6.8%
6.0%
5.8%
Interest expense
2.0
2.6
1.9
-22.1%
Pre-tax income
107
96.0
86.2
+11.4%
Income tax
32.5
26.9
23.0
+21.0%
Effective tax rate
30.4%
28.0%
26.7%
Net income
74.4
69.1
63.2
+7.7%
Net margin
4.7%
4.3%
4.6%
Diluted EPS
$2.77
$2.58
$2.33
+7.6%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
130
-74.2
39.4
Cash from investing
-35.8
-20.3
-96.2
Cash from financing
-49.8
101
18.5
Depreciation and amortisation
20.0
19.2
18.6
+4.4%
Share-based compensation
7.2
8.0
7.2
-9.9%
Buybacks
6.9
14.4
18.8
-51.8%
Dividends paid
0.0
0.0
0.0
Diluted shares, weighted
27m
27m
27m
+0.0%
Shares outstanding at period end
27m
27m
27m
+0.0%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
562
486
424
+15.7%
Debt
74.2
72.8
48.6
+1.9%
Operating lease liabilities
5.0
8.3
0.0
-39.9%
Other liabilities
435
342
313
+27.3%
Total liabilities and equity
1,077
909
786
+18.4%
Fixed assets
7.4
7.2
7.3
+3.3%
Goodwill
127
118
111
+7.2%
Intangible assets
38.6
34.5
38.9
+12.0%
Cash and equivalents
130
86.2
79.8
+50.2%
Receivables
392
375
300
+4.4%
Inventory
70.0
50.3
50.5
+39.2%
Other assets
313
238
199
+31.6%
Total assets
1,077
909
786
+18.4%
10-K for the year ended 31 March 2021, filed 21 May 2021: the filing.