See the Forest and the Trees
Return on Invested Capital
2022
2021
$ in thousands
Year Ended March 31,
2020
2019
2018
TTM Ended June 30,
2022
2021
Numerator
Operating income
$
Less: Taxes [1]
Net operating profit after taxes
$
147,316
(41,396)
105,920 $
$ 106,335 $
(32,326)
74,009 $
95,279
(26,678)
68,601
$
79,534
$
(21,236)
$
58,298 $
84,239
(28,894)
55,345 $
$
148,047
(41,675)
106,372 $
$
113,790
(33,659)
80,131
Denominator
Recourse notes payable
$
13,108 $
18,108 $
37,256 $
28
$
Non-recourse notes payable
21,178
Total stockholders' equity
660,738
Total invested capital
$
695,024 $
56,061
562,410
636,579
35,502
486,145
$
558,903 $
48,619
424,253
472,900
1,343
50,935
$
51,407
$
17,013
26,442
15,287
372,603
676,288
583,619
$
424,881
$ 754,137 $
615,919
Return on invested capital
[1] Based on the effective income tax rates.
2022 ePlus inc. Confidential and Proprietary.
15.2%
11.6%
12.3%
12.3%
13.0%
14.1%
13.0%
© 2022 ePlus inc. | 33
+
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