EPAM Systems, Inc.(EPAM)Earnings, Financials & Key Ratios

EPAM•NYSE

$109.64

$6.05B mkt cap·14.0× P/E·Price updated May 6, 2026

SectorTechnology IndustryIT Services Sub-IndustryDigital Engineering and Product Development

AboutEPAM Systems, Inc. provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services. It also provides operation solutions comprising integrated engineering practices and smart automation; and optimization solutions that include software application testing, test management, automation, and consulting services to enable customers enhance their existing software testing and quality assurance practices, as well as other testing services that identify threats and close loopholes to protect its customers' business systems from information loss. In addition, the company offers business, experience, technology, data, and technical advisory consulting services; and digital and service design solutions, which comprise strategy, design, creative, and program management services, as well as physical product development, such as artificial intelligence, robotics, and virtual reality. It serves the financial services, travel and consumer, software and hi-tech, business information and media, life sciences and healthcare, and other industries. The company was founded in 1993 and is headquartered in Newtown, Pennsylvania.Show more

Revenue$4.73B+0.8%
EBITDA$672M+6.0%
Net Income$455M+9.0%
EPS (Diluted)7.84+11.0%
Gross Margin30.68%+0.3%
EBITDA Margin14.21%+5.1%
Operating Margin11.52%+7.8%
Net Margin9.61%+8.1%
ROE12.8%-0.7%
ROIC19.85%-17.6%
Debt/Equity0.04-9.2%

Technical→

EPAM Key Insights

EPAM Systems, Inc. (EPAM) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Company is almost debt free
✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 15.6%
✓Healthy 5Y average net margin of 10.5%

✗Weaknesses

✗Weak momentum: RS Rating 12 (bottom 12%)
✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

EPAM Price & Volume

EPAM Systems, Inc. (EPAM) stock price & volume — 10-year historical chart

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EPAM Growth Metrics

EPAM Systems, Inc. (EPAM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years20.54%

5 Years15.56%

3 Years7.95%

TTM14.26%

Profit CAGR

10 Years20.63%

5 Years11.73%

3 Years-1.91%

TTM-17.19%

EPS CAGR

10 Years18.8%

5 Years11.59%

3 Years-1.28%

TTM-14.94%

Return on Capital

10 Years18.26%

5 Years17.55%

3 Years15.89%

Last Year14.26%

EPAM Recent Earnings

EPAM Systems, Inc. (EPAM) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 12/12 qtrs (100%)●Beat Revenue 10/12 qtrs (83%)

Q1 2026Latest

Feb 19, 2026

EPS

$3.26

Est $3.16

+3.2%

Revenue

$1.4B

Est $1.4B

+1.2%

Q4 2025

Nov 6, 2025

EPS

$3.08

Est $3.03

+1.7%

Revenue

$1.4B

Est $1.4B

+1.4%

Q3 2025

Aug 7, 2025

EPS

$2.77

Est $2.61

+6.1%

Revenue

$1.4B

Est $1.4B

-1.6%

Q2 2025

May 8, 2025

EPS

$2.41

Est $2.27

+6.2%

Revenue

$1.3B

Est $1.3B

+1.5%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q1 2026Latest	Feb 19, 2026	$3.26vs $3.16+3.2%	$1.4Bvs $1.4B+1.2%
Q4 2025	Nov 6, 2025	$3.08vs $3.03+1.7%	$1.4Bvs $1.4B+1.4%
Q3 2025	Aug 7, 2025	$2.77vs $2.61+6.1%	$1.4Bvs $1.4B-1.6%
Q2 2025	May 8, 2025	$2.41vs $2.27+6.2%	$1.3Bvs $1.3B+1.5%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	FCF Yield	Debt / Equity
GLOBGlobant S.A.Direct Competitor	1.77B	40.09	10.78	15.26%	4.01%	4.45%	12.51%	0.20
CTSHCognizant Technology Solutions CorporationDirect Competitor	24.58B	51.87	11.40	6.95%	10.41%	14.79%	10.56%	0.10
INFYInfosys LimitedDirect Competitor	50.53B	12.46	16.39	3.85%	16.16%	29.59%	8.09%	0.09
WITWipro LimitedDirect Competitor	20.85B	1.99	15.10	-0.24%	15.05%	15.7%	7.79%	0.23
KFRCKforce Inc.Direct Competitor	801.86M	43.87	22.38	-5.43%	2.6%	27.22%	5.84%	0.56
EXLSExlService Holdings, Inc.Direct Competitor	4.89B	31.26	20.30	13.56%	11.66%	27.16%	6.1%	0.44
ACNAccenture plcProduct Competitor	111.46B	179.01	14.73	7.36%	10.65%	23.92%	9.76%	0.25
IBMInternational Business Machines CorporationProduct Competitor	214.84B	229.03	20.50	7.62%	15.61%	35.44%	5.39%	2.05

Compare EPAM vs Peers

EPAM Systems, Inc. (EPAM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs GLOB

Most directly comparable listed peer for EPAM.

Scale Benchmark

vs GOOGL

Larger-name benchmark to compare EPAM against a more recognizable public peer.

Peer Set

Compare Top 5

vs GLOB, CTSH, INFY, WIT

EPAM Income Statement

EPAM Systems, Inc. (EPAM) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'16	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Sales/Revenue	1.16B	1.45B	1.84B	2.29B	2.66B	3.76B	4.82B	4.69B	4.73B	5.3B
Revenue Growth %	26.91%	25.02%	27.06%	24.47%	15.94%	41.31%	28.38%	-2.78%	0.8%	14.26%
Cost of Goods Sold	737.19M	921.35M	1.19B	1.49B	1.73B	2.48B	3.29B	3.26B	3.28B	3.8B
COGS % of Revenue	63.54%	63.52%	64.4%	64.88%	65.15%	66.09%	68.12%	69.43%	69.32%	-
Gross Profit	422.95M▲ 0%	529.1M▲ 25.1%	655.99M▲ 24.0%	805.6M▲ 22.8%	926.96M▲ 15.1%	1.27B▲ 37.5%	1.54B▲ 20.7%	1.43B▼ 6.8%	1.45B▲ 1.1%	1.5B▲ 0%
Gross Margin %	36.46%	36.48%	35.6%	35.12%	34.85%	33.91%	31.88%	30.57%	30.68%	28.3%
Gross Profit Growth %	21.81%	25.1%	23.98%	22.81%	15.06%	37.49%	20.68%	-6.76%	1.14%	-
Operating Expenses	289.25M	356.15M	410.23M	502.75M	547.63M	732.13M	965.05M	932.79M	905.86M	980.69M
OpEx % of Revenue	24.93%	24.55%	22.26%	21.92%	20.59%	19.48%	20%	19.89%	19.16%	-
Selling, General & Admin	265.86M	327.59M	373.59M	457.43M	484.76M	648.74M	872.78M	815.07M	816.3M	891.42M
SG&A % of Revenue	22.92%	22.59%	20.27%	19.94%	18.23%	17.26%	18.09%	17.38%	17.27%	-
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	23.39M	28.56M	36.64M	45.32M	62.87M	83.39M	92.27M	117.72M	89.56M	3M
Operating Income	133.7M▲ 0%	172.95M▲ 29.4%	245.76M▲ 42.1%	302.85M▲ 23.2%	379.32M▲ 25.3%	542.32M▲ 43.0%	572.97M▲ 5.7%	501.24M▼ 12.5%	544.58M▲ 8.6%	518.35M▲ 0%
Operating Margin %	11.52%	11.92%	13.34%	13.2%	14.26%	14.43%	11.88%	10.69%	11.52%	9.78%
Operating Income Growth %	26.17%	29.36%	42.1%	23.23%	25.25%	42.97%	5.65%	-12.52%	8.65%	-
EBITDA	157.08M	201.51M	282.4M	404.03M	508.57M	687.47M	713.01M	633.94M	671.69M	669.01M
EBITDA Margin %	13.54%	13.89%	15.32%	17.61%	19.12%	18.29%	14.78%	13.52%	14.21%	12.63%
EBITDA Growth %	27.33%	28.28%	40.15%	43.07%	25.87%	35.18%	3.72%	-11.09%	5.95%	2.16%
D&A (Non-Cash Add-back)	23.39M	28.56M	36.64M	101.18M	129.24M	145.15M	140.05M	132.7M	127.1M	150.66M
EBIT	133.7M	172.95M	245.76M	302.85M	379.32M	535.12M	572.97M	527.16M	544.58M	505.94M
Net Interest Income	4.85M	4.6M	3.52M	8.72M	3.82M	-1.73M	10.03M	51.12M	46.88M	19.64M
Interest Income	4.85M	4.6M	3.52M	8.72M	3.82M	0	10.03M	51.12M	46.88M	19.64M
Interest Expense	0	0	0	0	0	1.73M	0	0	0	0
Other Income/Expense	-7.23M	1.36M	4.01M	-3.32M	-845K	-8.92M	-65.71M	35.35M	39.83M	-19.22M
Pretax Income	126.47M▲ 0%	174.31M▲ 37.8%	249.77M▲ 43.3%	299.53M▲ 19.9%	378.48M▲ 26.4%	533.39M▲ 40.9%	507.26M▼ 4.9%	536.59M▲ 5.8%	584.41M▲ 8.9%	499.13M▲ 0%
Pretax Margin %	10.9%	12.02%	13.55%	13.06%	14.23%	14.19%	10.51%	11.44%	12.36%	9.42%
Income Tax	27.2M	101.55M	9.52M	38.47M	51.32M	51.74M	87.84M	119.5M	129.88M	127.51M
Effective Tax Rate %	21.51%	58.26%	3.81%	12.84%	13.56%	9.7%	17.32%	22.27%	22.22%	25.55%
Net Income	99.27M▲ 0%	72.76M▼ 26.7%	240.26M▲ 230.2%	261.06M▲ 8.7%	327.16M▲ 25.3%	481.65M▲ 47.2%	419.42M▼ 12.9%	417.08M▼ 0.6%	454.53M▲ 9.0%	371.62M▲ 0%
Net Margin %	8.56%	5.02%	13.04%	11.38%	12.3%	12.82%	8.69%	8.89%	9.61%	7.01%
Net Income Growth %	17.54%	-26.7%	230.2%	8.66%	25.32%	47.22%	-12.92%	-0.56%	8.98%	-17.19%
Net Income (Continuing)	99.27M	72.76M	240.26M	261.06M	327.16M	481.65M	419.42M	417.08M	454.53M	371.62M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	8.72M	1.48M	579K	1.94M	582K
EPS (Diluted)	1.87▲ 0%	1.32▼ 29.4%	4.24▲ 221.2%	4.53▲ 6.8%	5.60▲ 23.6%	8.15▲ 45.5%	7.09▼ 13.0%	7.06▼ 0.4%	7.84▲ 11.0%	6.66▲ 0%
EPS Growth %	15.43%	-29.41%	221.21%	6.84%	23.62%	45.54%	-13.01%	-0.42%	11.05%	-14.94%
EPS (Basic)	1.97	1.40	4.24	4.77	5.87	8.52	7.32	7.21	7.93	-
Diluted Shares Outstanding	53.22M	54.98M	56.67M	57.67M	58.45M	59.06M	59.17M	59.09M	57.98M	55.82M
Basic Shares Outstanding	50.31M	52.08M	56.66M	57.63M	55.73M	56.51M	57.29M	57.83M	57.29M	55.56M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

EPAM Balance Sheet

EPAM Systems, Inc. (EPAM) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'16	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Total Current Assets	646.55M	960.03M	1.2B	1.47B	1.91B	2.27B	2.76B	3.09B	2.43B	2.52B
Cash & Short-Term Investments	362.43M	582.59M	770.56M	936.56M	1.38B	1.45B	1.74B	2.1B	1.29B	1.24B
Cash Only	362.02M	582.59M	770.56M	936.55M	1.32B	1.45B	1.68B	2.04B	1.29B	1.24B
Short-Term Investments	403K	0	0	9K	60.01M	0	60.34M	60.74M	1.69M	0
Accounts Receivable	263.31M	352.14M	402.34M	497.72M	501.06M	768.93M	932.63M	897.03M	1B	1.13B
Days Sales Outstanding	82.84	88.61	79.69	79.2	68.77	74.68	70.56	69.8	77.37	75.47
Inventory	2.4M	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	1.19	-	-	-	-	-	-	-	-	-
Other Current Assets	6.98M	0	0	0	0	0	85.32M	97.36M	136.12M	154.41M
Total Non-Current Assets	279.26M	290.22M	412.73M	770M	808.55M	1.25B	1.25B	1.26B	2.32B	2.32B
Property, Plant & Equipment	73.62M	86.42M	102.65M	404.25M	398.2M	421.06M	422.13M	369.95M	335.91M	322.26M
Fixed Asset Turnover	15.76x	16.78x	17.95x	5.67x	6.68x	8.93x	11.43x	12.68x	14.07x	16.09x
Goodwill	109.29M	119.53M	166.83M	195.04M	211.96M	530.72M	529.07M	562.46M	1.18B	1.21B
Intangible Assets	51.26M	44.51M	57.06M	56.26M	51.98M	101.14M	77.65M	71.12M	436.42M	419.81M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	14.09M	14.79M	16.21M	39.43M	53.96M	56.9M	47.88M	59.58M	100.52M	467.99M
Total Assets	925.81M▲ 0%	1.25B▲ 35.0%	1.61B▲ 28.9%	2.24B▲ 39.2%	2.72B▲ 21.3%	3.52B▲ 29.5%	4.01B▲ 13.8%	4.35B▲ 8.6%	4.75B▲ 9.1%	4.84B▲ 0%
Asset Turnover	1.25x	1.16x	1.14x	1.02x	0.98x	1.07x	1.20x	1.08x	1.00x	1.11x
Asset Growth %	18.92%	35.04%	28.92%	39.24%	21.26%	29.47%	13.79%	8.56%	9.15%	37.33%
Total Current Liabilities	116.22M	180.97M	262.83M	386.95M	465.95M	763.42M	747.48M	644.93M	821.04M	835.26M
Accounts Payable	3.21M	5.57M	7.44M	7.83M	10.19M	24.85M	30.85M	31.99M	44.7M	42.98M
Days Payables Outstanding	1.59	2.21	2.29	1.92	2.15	3.65	3.43	3.59	4.98	4.26
Short-Term Debt	0	0	0	0	0	16.02M	2.86M	0	0	0
Deferred Revenue (Current)	3.32M	4.5M	4.56M	9.13M	17.38M	39.81M	36.04M	27.99M	59.32M	59.32M
Other Current Liabilities	41.86M	91.28M	201.8M	269.31M	321.37M	545.87M	525.87M	460.08M	568.59M	188.59M
Current Ratio	5.56x	5.31x	4.56x	3.81x	4.11x	2.97x	3.69x	4.79x	2.96x	2.96x
Quick Ratio	5.54x	5.31x	4.56x	3.81x	4.11x	2.97x	3.69x	4.79x	2.96x	2.96x
Cash Conversion Cycle	82.44	-	-	-	-	-	-	-	-	71.21
Total Non-Current Liabilities	28.18M	94.34M	86.38M	261.12M	272.36M	263.97M	258.66M	235.96M	298.28M	281.19M
Long-Term Debt	25.05M	25.03M	25.03M	25.07M	25.04M	30.23M	27.69M	26.13M	25.19M	25.04M
Capital Lease Obligations	0	0	0	180.85M	180.6M	142.8M	122.32M	109.26M	98.43M	378.98M
Deferred Tax Liabilities	0	0	0	0	0	0	0	8.74M	92.36M	381.59M
Other Non-Current Liabilities	3.13M	69.31M	61.35M	55.19M	66.72M	90.93M	108.65M	91.83M	82.3M	304.76M
Total Liabilities	144.4M	275.31M	349.21M	648.06M	738.31M	1.03B	1.01B	880.89M	1.12B	1.12B
Total Debt	25.05M	25.03M	25.03M	263.46M	266.4M	239.16M	193.22M	171.94M	163.25M	155.22M
Net Debt	-336.98M	-557.55M	-745.53M	-673.09M	-1.06B	-1.21B	-1.49B	-1.86B	-1.12B	-1.08B
Debt / Equity	0.03x	0.03x	0.02x	0.17x	0.13x	0.10x	0.06x	0.05x	0.04x	0.04x
Debt / EBITDA	0.16x	0.12x	0.09x	0.65x	0.52x	0.35x	0.27x	0.27x	0.24x	0.23x
Net Debt / EBITDA	-2.15x	-2.77x	-2.64x	-1.67x	-2.08x	-1.76x	-2.09x	-2.94x	-1.67x	-1.67x
Interest Coverage	-	-	-	-	-	314.02x	-	-	-	-
Total Equity	781.41M▲ 0%	974.95M▲ 24.8%	1.26B▲ 29.5%	1.6B▲ 26.4%	1.98B▲ 24.2%	2.5B▲ 25.9%	3B▲ 20.3%	3.47B▲ 15.6%	3.63B▲ 4.6%	3.73B▲ 0%
Equity Growth %	27.43%	24.77%	29.5%	26.42%	24.24%	25.86%	20.32%	15.6%	4.6%	22.22%
Book Value per Share	14.68	17.73	22.28	27.68	33.93	42.26	50.75	58.75	62.62	66.77
Total Shareholders' Equity	781.41M	974.95M	1.26B	1.6B	1.98B	2.49B	3B	3.47B	3.63B	3.73B
Common Stock	50K	53K	54K	55K	56K	57K	58K	58K	57K	55K
Retained Earnings	444.32M	518.82M	759.53M	1.02B	1.35B	1.83B	2.25B	2.5B	2.56B	2.38B
Treasury Stock	-177K	-177K	-177K	-177K	-177K	-177K	-118K	0	0	0
Accumulated OCI	-37.69M	-17.62M	-41.51M	-31.37M	-25.51M	-54.21M	-95.32M	-39.04M	-116.86M	12.4M
Minority Interest	0	0	0	0	0	8.72M	1.48M	579K	1.94M	582K

EPAM Cash Flow Statement

EPAM Systems, Inc. (EPAM) cash flow — operating, investing & free cash flow history

Line item	Dec'16	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Cash from Operations	164.82M	195.36M	292.22M	287.45M	544.41M	572.33M	464.1M	562.63M	559.17M	559.17M
Operating CF Margin %	14.21%	13.47%	15.86%	12.53%	20.47%	15.23%	9.62%	12%	11.83%	-
Operating CF Growth %	115.75%	18.53%	49.58%	-1.63%	89.39%	5.13%	-18.91%	21.23%	-0.62%	-90.32%
Net Income	99.27M	72.76M	240.26M	261.06M	327.16M	481.65M	419.42M	417.08M	454.53M	371.62M
Depreciation & Amortization	23.39M	28.56M	36.64M	101.18M	129.24M	145.15M	140.05M	132.7M	127.1M	150.66M
Stock-Based Compensation	49.24M	52.41M	59.19M	72.04M	75.24M	111.66M	99.91M	147.73M	167.3M	176.32M
Deferred Taxes	-3.3M	12.56M	-48M	-7.76M	-19.99M	-46.9M	-42.16M	-37.19M	-64.19M	-36.1M
Other Non-Cash Items	2.5M	-3.96M	-864K	6.38M	9.05M	15.63M	76.72M	27.48M	1.74M	-148.01M
Working Capital Changes	-6.28M	33.03M	5M	-145.44M	23.71M	-134.86M	-229.83M	-125.17M	-127.31M	-12.18M
Change in Receivables	-30.61M	-58.74M	-31M	-87.17M	4.24M	-211.68M	-192.71M	32.36M	15.59M	-53.38M
Change in Inventory	-506.74M	-688.51M	-899.46M	87.17M	0	0	0	0	0	0
Change in Payables	741K	1.22M	-772K	-1.69M	2.43M	-2.4M	-2.93M	154K	-29.08M	-29.73M
Cash from Investing	-9.32M	-36.17M	-112.12M	-145.37M	-167.15M	-368.92M	-182.93M	-66.77M	-884.98M	-878.68M
Capital Expenditures	-29.32M	-29.81M	-37.57M	-99.31M	-68.79M	-111.5M	-81.63M	-28.41M	-32.15M	-34.89M
CapEx % of Revenue	2.53%	2.05%	2.04%	4.33%	2.59%	2.97%	1.69%	0.61%	0.68%	-
Acquisitions	-5.5M	-6.84M	-74.27M	-39.32M	-18.89M	-314.96M	-10.64M	-24.82M	-912.16M	-858.44M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	25.5M	473K	-699K	-6.74M	1.02M	79K	-29.03M	-9.94M	2.31M	-10.17M
Cash from Financing	10.47M	49.75M	23M	20.36M	-765K	-59.56M	-2.02M	-165.77M	-390.41M	-437.96M
Debt Issued (Net)	-10.13M	-103K	-3.49M	-9K	-18K	55K	-13.78M	-2.14M	-1.86M	-1.45M
Equity Issued (Net)	0	0	0	0	1000K	1000K	1000K	-1000K	-1000K	-4M
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	-164.92M	-398.03M	-451.64M
Other Financing	20.6M	49.85M	26.5M	20.37M	-27.16M	-85.9M	-38.9M	1.29M	9.48M	-19.91M
Net Change in Cash	162.58M▲ 0%	220.56M▲ 35.7%	188.86M▼ 14.4%	165.98M▼ 12.1%	385.85M▲ 132.5%	125.81M▼ 67.4%	234.29M▲ 86.2%	359.47M▲ 53.4%	-752.72M▼ 309.4%	-797.19M▲ 0%
Free Cash Flow	135.5M▲ 0%	165.56M▲ 22.2%	254.64M▲ 53.8%	188.15M▼ 26.1%	475.61M▲ 152.8%	460.83M▼ 3.1%	382.48M▼ 17.0%	534.22M▲ 39.7%	527.02M▼ 1.3%	459.11M▲ 0%
FCF Margin %	11.68%	11.41%	13.82%	8.2%	17.88%	12.26%	7.93%	11.39%	11.15%	8.67%
FCF Growth %	131.91%	22.18%	53.81%	-26.11%	152.79%	-3.11%	-17%	39.67%	-1.35%	-20%
FCF per Share	2.55	3.01	4.49	3.26	8.14	7.80	6.46	9.04	9.09	9.09
FCF Conversion (FCF/Net Income)	1.66x	2.69x	1.22x	1.10x	1.66x	1.19x	1.11x	1.35x	1.23x	1.24x
Interest Paid	566K	548K	777K	832K	425K	413K	1.66M	4.7M	3.74M	0
Taxes Paid	37.49M	26.67M	40.44M	65.31M	54.52M	87.32M	113.19M	177.43M	196.39M	0

EPAM Key Ratios

EPAM Systems, Inc. (EPAM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	TTM
Return on Equity (ROE)	14.24%	8.29%	21.48%	18.26%	18.28%	21.51%	15.25%	12.88%	12.8%	9.97%
Return on Invested Capital (ROIC)	22.45%	30.1%	39.45%	31.54%	30.75%	36.71%	30.66%	24.08%	19.85%	19.85%
Gross Margin	36.46%	36.48%	35.6%	35.12%	34.85%	33.91%	31.88%	30.57%	30.68%	28.3%
Net Margin	8.56%	5.02%	13.04%	11.38%	12.3%	12.82%	8.69%	8.89%	9.61%	7.01%
Debt / Equity	0.03x	0.03x	0.02x	0.17x	0.13x	0.10x	0.06x	0.05x	0.04x	0.04x
Interest Coverage	-	-	-	-	-	314.02x	-	-	-	-
FCF Conversion	1.66x	2.69x	1.22x	1.10x	1.66x	1.19x	1.11x	1.35x	1.23x	1.24x
Revenue Growth	26.91%	25.02%	27.06%	24.47%	15.94%	41.31%	28.38%	-2.78%	0.8%	14.26%

EPAM SEC Filings & Documents

EPAM Systems, Inc. (EPAM) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 1, 2026·SEC

Material company update

Mar 12, 2026·SEC

Material company update

Mar 5, 2026·SEC

10-K Annual Reports

FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 28, 2025·SEC

FY 2024

Feb 22, 2024·SEC

10-Q Quarterly Reports

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

FY 2025

May 8, 2025·SEC

EPAM Frequently Asked Questions

EPAM Systems, Inc. (EPAM) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

EPAM Systems, Inc. (EPAM) reported $5.30B in revenue for fiscal year 2024. This represents a 3433% increase from $149.9M in 2009.

EPAM Systems, Inc. (EPAM) grew revenue by 0.8% over the past year. Growth has been modest.

Yes, EPAM Systems, Inc. (EPAM) is profitable, generating $371.6M in net income for fiscal year 2024 (9.6% net margin).

Dividend & Returns

EPAM Systems, Inc. (EPAM) has a return on equity (ROE) of 12.8%. This is reasonable for most industries.

EPAM Systems, Inc. (EPAM) generated $459.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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EPAM Systems, Inc.(EPAM)Earnings, Financials & Key Ratios

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