ePlus inc.

PLUS · Industrials · $2.3B mkt cap · FY2026 filings · Narrow moat

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Narrow moat

The four filters

Pricing power43

Median gross margin 25.5% over 10y, very stable.

Returns on capital90

Median ROIC 17.6%, above the 9% hurdle in 100% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline80

Owner earnings +13.3%/yr, share count n/a.

Margin of safety

Above valueOn sale

Around fair value

Owner earnings (normalized): $126.5M
Est. intrinsic value / share: $86.57
Recent price: $88.27
Discount to value: Around fair value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell PLUS. See the disclaimer.