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PLUS ePlus

ePlus inc., is provides information technology solutions that enable organizations to optimize their information technology (IT) environment and supply chain processes in the United States. It operates in two segments, Technology and Financing. The Technology segment offers hardware, perpetual and subscription software, maintenance, software assurance, and internally-provided and outsourced services; and advanced professional and managed services, including ePlus managed, professional, security, staff augmentation, server and desktop support, and project management services. The Financing segment specializes in arrangements, such as direct financing, sales-type, and operating leases; loans and consumption-based financing arrangements; and underwriting and management of IT equipment and assets. Its financing operations comprise sales, pricing, credit, contracts, accounting, risk management, and asset management. This segment primarily finances IT equipment, communication-related equipment, and medical equipment; and industrial machinery and equipment, office furniture and general office equipment, transportation equipment, and other general business equipment directly, as well as through vendors. ePlus inc. serves commercial entities, state and local governments, government contractors, and educational institutions The company was founded by Bruce M. Bowen in 1990 and is headquartered in Herndon, VA.

Company profile

Ticker
PLUS
Exchange
Website
CEO
Mark Marron
Employees
Incorporated
Location
Fiscal year end
Former names
MLC HOLDINGS INC
SEC CIK
IRS number
541817218

PLUS stock data

(
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Calendar

3 Feb 21
13 Apr 21
31 Mar 22
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Mar 20 Mar 19 Mar 18 Mar 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from ePlus earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 86.46M 86.46M 86.46M 86.46M 86.46M 86.46M
Cash burn (monthly) 24.87M (positive/no burn) (positive/no burn) (positive/no burn) 1.05M (positive/no burn)
Cash used (since last report) 85.45M n/a n/a n/a 3.62M n/a
Cash remaining 1.01M n/a n/a n/a 82.84M n/a
Runway (months of cash) 0.0 n/a n/a n/a 78.5 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 Apr 21 Marron Mark P Common Stock Sell Dispose S Yes Yes 100.4094 41 4.12K 30,305
5 Apr 21 Marron Mark P Common Stock Sell Dispose S Yes Yes 99.6617 3,469 345.73K 30,346
5 Apr 21 Marron Mark P Common Stock Sell Dispose S Yes Yes 99.0868 2,740 271.5K 33,815
5 Apr 21 Raiguel Darren S Common Stock Sell Dispose S Yes Yes 99.9582 2,483 248.2K 12,207
5 Apr 21 Raiguel Darren S Common Stock Sell Dispose S Yes Yes 99.247 1,517 150.56K 14,690
1 Apr 21 Bowen Bruce M Common Stock Grant Aquire A No No 0 207 0 3,530
1 Apr 21 Hovde Eric D Common Stock Grant Aquire A No No 0 207 0 29,321
3 Mar 21 Raiguel Darren S Common Stock Sell Dispose S No Yes 100 2,000 200K 44,184

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

92.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 159 150 +6.0%
Opened positions 24 13 +84.6%
Closed positions 15 18 -16.7%
Increased positions 57 52 +9.6%
Reduced positions 56 63 -11.1%
13F shares
Current Prev Q Change
Total value 1.1B 3.39B -67.6%
Total shares 12.48M 12.51M -0.3%
Total puts 0 10.1K EXIT
Total calls 0 0
Total put/call ratio Infinity
Largest owners
Shares Value Change
BLK Blackrock 2.4M $211.1M +6.5%
River Road Asset Management 1.11M $97.38M +49.0%
Vanguard 943.79K $83.01M +2.7%
Dimensional Fund Advisors 700.12K $61.57M -4.3%
AMP Ameriprise Financial 694.58K $61.09M +0.3%
Geneva Capital Management 628.67K $55.29M +2.8%
STT State Street 434.01K $38.17M +0.2%
Atlanta Capital Management Co L L C 385.82K $33.93M -2.2%
RY Royal Bank Of Canada 351.56K $30.92M -1.8%
NTRS Northern Trust 341.59K $30.04M +1.3%
Largest transactions
Shares Bought/sold Change
River Road Asset Management 1.11M +364.09K +49.0%
SAMG Silvercrest Asset Management 0 -232.91K EXIT
FMR 212.33K -229.23K -51.9%
BLK Blackrock 2.4M +146.69K +6.5%
Nicholas 91.25K +91.25K NEW
Eagle Asset Management 0 -50.71K EXIT
MS Morgan Stanley 75.01K +39.55K +111.6%
TFC Truist Financial 62.78K -38.53K -38.0%
Grantham, Mayo, Van Otterloo & Co. 4.8K -36.9K -88.5%
GS Goldman Sachs 19.84K -36.08K -64.5%

Financial report summary

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Risks
  • Actual or anticipated epidemics, pandemics, outbreaks, or other public health crises may adversely affect our customers’ financial condition and the operations of our business.
  • General economic weakness may harm our operating results and financial condition.
  • If we lost one or more of our large volume customers, our earnings may be affected.
  • We depend on having creditworthy customers to avoid an adverse impact on our operating results and financial condition.
  • The terms of our Credit Facility or lines of credit with our vendors or loss thereof may restrict our current and future operations, which could adversely affect our ability to respond to changes in our business and to manage our operations.
  • We depend on third-party companies to perform certain of our obligations to our customers, which if not performed adequately could cause significant disruption to our business.
  • Changes in the IT industry, customers’ usage or procurement of IT, and/or rapid changes in product standards may result in reduced demand for the IT hardware and software solutions and services we sell.
  • We depend on continued innovations in hardware, software and services offerings by our vendors, as well as the competitiveness of their offerings and our ability to partner with new and emerging technology providers.
  • We may fail to innovate or create new solutions which align with changing market and customer demand.
  • We may experience a reduction in incentives offered to us and earned by us from our vendors that would affect our earnings.
  • We may not have designed or maintained our IT systems or have adequate or competent IT personnel to support our business.
  • Rising interest rates or the loss of key lenders or the constricting of credit markets may affect our future profitability and our ability to monetize our financing investments.
  • Breaches of data security and the failure to protect our information technology systems from cybersecurity threats could adversely impact our business.
  • We may be required to take impairment charges for goodwill or other intangible assets related to acquisitions.
  • We may not be able to realize our entire investment in the equipment we lease.
  • Our earnings may fluctuate, which could adversely affect the price of our common stock.
  • Failure to comply with new laws or changes to existing laws may adversely impact our business.
  • We face substantial competition from other companies.
  • We may be liable for misuse of our customers’ or employees’ information.
  • We may not adequately protect ourselves through our contract vehicles, or our insurance policies may not be adequate to address potential losses or claims.
  • Failure to comply with our public-sector contracts or applicable laws and regulations could result in, among other things, termination, fines or other liabilities, and changes in procurement regulations could adversely impact our business.
  • Loss of services by any of our executive officers or senior management and/or failure to successfully implement a succession plan could adversely affect our business.
  • We may not be able to hire and/or retain personnel that we need.
  • Our results of operations are subject to fluctuations in foreign currency.
  • Changes in accounting standards, or the misapplication of current accounting standards, may adversely affect our future financial results.
  • If we fail to perform sufficient due diligence prior to completing an acquisition, or entering into a strategic alliance, or fail to integrate a completed acquisition our earnings may be affected.
  • If we publish inaccurate catalog content data, our business could suffer.
  • If our proprietary software products contain defects, our business could suffer.
  • We face risks of claims from third-parties for intellectual property infringement, including counterfeit products, that could harm our business.
  • We may be unable to protect our intellectual property and costs to protect our intellectual property may affect our earnings.
  • If securities analysts do not publish research or reports about our company, or if they issue unfavorable commentary about us or our industry or downgrade our common stock, the price of our common stock could decline.
  • Future offerings of debt or equity securities, which would rank senior to our common stock, may adversely affect the market price of our common stock.
Management Discussion
  • Net sales: Net sales for the year ended March 31, 2020, increased by $200.6 million, or 15.1%, to $1,530.1 million due to increases from customers in telecom, media and entertainment industry which was partially offset by a decrease in demand from SLED, financial services, and all the other category of customers. Product sales increased 13.3%, or $157.0 million, to $1,337.0 million and services revenues increased 29.2%, or $43.6 million, to $193.1 million due to an increase in staffing and professional and managed services primarily from the SLAIT acquisition.
  • Adjusted gross billings increased to $2,227.9 million, or 16.1%, from $1,919.0 million in the prior year. The increase in adjusted gross billings was due, in part, to acquisitions as well as higher demand from our current customers.  This increase was a higher percentage than that for the net sales increase due a shift in mix to more third-party maintenance, software assurance, subscriptions/SaaS licenses, and services where we recognize revenue on a net basis.
  • We analyze sales by customer end market and by manufacturer. The percentage of net sales by industry and vendor are summarized below:
Content analysis
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Legalese
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Readability
H.S. sophomore Good
New words: downturn, efficacy, enterprise, export, footprint, inoculated, joining, Northeast, region, salary, SMP, solution, stable, upstate, vaccination, vaccine, virtual, York
Removed: escrow, exceeding, improvement, leave, offsetting, referendum, released, SLAIT