PLUSEPLUS INC
Wholesale-Computers & Peripheral Equipment & Software
- Revenue
- $2.4B
- 22% YoY
- Operating margin
- 6.8%
- 37% YoY
- EBITDA
- $194M
- 53% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -2.1×
- −$410M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashFired-88% of net incomeCash flow under 80% of net income
- Dilutive SBCClear0% of revenueOver 10% of revenue
- Payouts exceed cash flowClear-43% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear11% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.8B | $2.0B | $2.2B | $2.0B | $2.4B | 22% |
| Operating income | $147M | $139M | $134M | $100M | $166M | 67% |
| Net income | $104M | $116M | $118M | $105M | $133M | 27% |
| Operating cash flow | −$21M | −$15M | $248M | $302M | −$116M | 138% |
| Capex | — | $8M | $8M | $5M | $4M | 16% |
| Stock-based comp | $7M | $8M | $9M | $11M | $12M | 16% |
| Buybacks | $14M | $7M | $10M | $47M | $31M | 35% |
| Dividends | — | — | $0 | $0 | $20M |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $575K · 10
- Net
- −$575K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $8M | $10M | 152 | 134 |
| FY2025 | $6M | $5M | 195 | 172 |
| FY2024 | $6M | $8M | 251 | 199 |
| FY2023 | $4M | $4M | 157 | 187 |
| FY2022 | $5M | $5M | 179 | 197 |