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Eplus (PLUS) earnings and revenue breakdown
Latest: Q2 FY27 · 10-Q filed Nov 5, 2026 · Eplus (PLUS) Q2 FY27 earnings results →
Q2 FY27 Revenue up 10% year over year to $668M · 6¢ of every $1 of revenue kept as net profit · operating margin 8.5%
Eplus made $668M in Q2 FY27 (+10% Y/Y): Product $547M, Professional Services $67.8M, Managed Services $53.1M. Operating margin 8.5%, net earnings $40.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
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What changed this quarter
Revenue was $667.9M in Q2 FY27, up 10% year over year and up 3% from the previous quarter. Product was the largest line at 82% of revenue. Product added $62.1M year over year (up 13%), 105% of the total change. Professional Services declined 11%.
Gross margin was 27.0%, up 0.4 points from Q2 FY26. Operating profit was $56.5M, a 8.5% margin (up 0.4 points year over year). Of the extra revenue versus Q2 FY26, 13% reached operating profit, above the 8% margin then. Operating expenses grew 9% against revenue growth of 10%. The fastest-growing cost line was SG&A (+11%). Net earnings were $40.4M, up 16% year over year. The effective tax rate was 27.9%.
Operating cash flow was −$57.4M. Non-cash charges added back $5.9M of depreciation and amortization and $4.1M of share-based compensation. Working capital and other items used $107.8M. Capital expenditures of $1.5M exceeded it, leaving free cash flow of −$59.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 FY27 | 10-Q | Nov 5, 2026 | $668M | +10% | 8.5% | $40.4M | −$57.4M |
| Q1 FY27 | 10-Q | Aug 4, 2026 | $649M | +1% | 6.0% | $30.3M | $76.5M |
| Q4 FY26 | 10-K | May 28, 2026 | $582M | +22% | 6.5% | $25.0M | $105M |
| Q3 FY26 | 10-Q | Feb 4, 2026 | $615M | +25% | 7.1% | $35.1M | −$87.4M |
| Q2 FY26 | 10-Q | Nov 6, 2025 | $609M | +23% | 8.0% | $34.9M | −$34.8M |
| Q1 FY26 | 10-Q | Aug 7, 2025 | $643M | +20% | 5.6% | $37.7M | −$99.0M |
| Q4 FY25 | 10-K | May 22, 2025 | $478M | -6% | 7.3% | $21.8M | $161M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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Customers and suppliers named in filings
Sells to
- CSCO — 29% of its revenue · Stated in 10-K (sentence) · source
- VZ — 24% of its revenue · Stated in 10-K (sentence) · source
- ANET · Stated in 10-K (named, share not stated) · source
- DELL · Stated in 10-K (named, share not stated) · source
- HPE · Stated in 10-K (named, share not stated) · source
Buys from
About Eplus
e Plus inc., sometimes referred to in this Annual Report on Form 10-K as “we,” “our,” “us,” “ourselves,” or “ e Plus,” has been delivering solutions for our customers since 1990. We conduct our operations through two businesses. Our technology business, consisting of our product, professional services, and managed services segments, provides technology solutions. Our technology solutions leverage third-party hardware, software, maintenance and other services with our own advanced professional and managed services. Our financing business segment primarily provides financing of IT equipment, software, and related services. Across both businesses, we sell to commercial entities, state and local governments, government contractors, and educational institutions.
In its own words, from its 10-K, filed May 22, 2025.
Eplus against its Wholesale-Computers & Peripheral Equipment & Software peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +30%. Operating margin: 8.5% against the peers' median 4.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| PLUS Eplus | Q2 FY27 | $668M | +10% | 8.5% |
| SNX TD Synnex | Q3 FY26 | $21.6B | +38% | 3.0% |
| INGM Ingram Micro Holding | Q3 2026 | $15.2B | +21% | 1.9% |
| SCSC Scansource | Q1 FY27 | $962M | +30% | 1.3% |
| CNXN PC Connection | Q3 2026 | $874M | +23% | 4.7% |
| CLMB Climb Global Solutions | Q3 2026 | $220M | +36% | 4.5% |
Source: Eplus 10-Q on SEC EDGAR · CIK 1022408 · Wholesale-Computers & Peripheral Equipment & Software
13F: who owns PLUS and who is buying
More on PLUS
History
Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results
- Eplus guidance history: guided vs reported
- Eplus gross margin by quarter
- Eplus operating margin by quarter
- Eplus net income by quarter
- Eplus free cash flow by quarter
- Eplus capital expenditures by quarter
- Eplus Product revenue by quarter
- Eplus Professional Services revenue by quarter
- Eplus Managed Services revenue by quarter