Last 48 quarters of trend data · Technology · IT Consulting & Outsourcing
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 19.29 | 10.71 | 10.07 | 22.27 | 25.87 | 19.74 | 28.34 | 32.98 | 32.48 | 20.99 | 27.66 | 35.05 | 44.78 | 38.74 | 27.68 | 43.21 | 31.39 | 34.43 | 230.30 | 48.78 | 69.63 |
| — | -45.7% | -64.5% | -32.5% | -20.3% | -6.0% | +2.4% | -5.9% | -27.5% | -45.8% | -0.1% | -18.9% | +42.6% | +12.5% | -88.0% | -11.4% | -54.9% | -52.9% | +249.8% | -8.5% | +13.5% | |
| P/S Ratio | 1.47 | 0.98 | 0.73 | 1.31 | 2.01 | 1.51 | 1.86 | 1.86 | 2.69 | 2.45 | 2.38 | 3.49 | 3.78 | 3.27 | 2.84 | 3.66 | 3.95 | 4.38 | 3.64 | 3.73 | 8.94 |
| — | -35.2% | -60.6% | -29.4% | -25.1% | -38.3% | -22.1% | -46.8% | -28.9% | -25.2% | -16.1% | -4.6% | -4.2% | -25.3% | -21.9% | -1.9% | -55.8% | -48.7% | -57.4% | -50.0% | +22.9% | |
| P/B Ratio | 2.44 | 1.55 | 1.18 | 2.14 | 3.08 | 2.26 | 2.74 | 2.65 | 3.70 | 3.22 | 3.22 | 4.68 | 5.05 | 4.57 | 4.08 | 5.66 | 6.48 | 7.79 | 6.63 | 6.85 | 15.87 |
| — | -31.3% | -57.0% | -19.4% | -16.6% | -29.8% | -14.8% | -43.3% | -26.7% | -29.6% | -21.0% | -17.3% | -22.1% | -41.4% | -38.5% | -17.3% | -59.2% | -46.0% | -51.3% | -39.4% | +49.4% | |
| P/FCF | 17.69 | 5.09 | — | — | 10.57 | 7.35 | 58.00 | 162.95 | 29.31 | 12.06 | 52.26 | 33.03 | 27.14 | 17.84 | 40.47 | 55.81 | 29.55 | 23.00 | 73.27 | — | 43.43 |
| — | -30.8% | — | — | -63.9% | -39.1% | +11.0% | +393.3% | +8.0% | -32.4% | +29.1% | -40.8% | -8.2% | -22.5% | -44.8% | — | -32.0% | -49.6% | -55.0% | — | +16.3% | |
| EV / EBITDA | 9.51 | 5.70 | 4.51 | 10.25 | 13.38 | 9.78 | 13.63 | 15.37 | 17.83 | 11.60 | 15.42 | 25.44 | 25.13 | 22.69 | 16.47 | 26.38 | 22.01 | 23.67 | 32.05 | 24.41 | 46.99 |
| — | -41.7% | -66.9% | -33.3% | -25.0% | -15.6% | -11.6% | -39.6% | -29.1% | -48.9% | -6.3% | -3.6% | +14.2% | -4.1% | -48.6% | +8.1% | -53.2% | -47.7% | -28.8% | -38.1% | +35.9% | |
| EV / EBIT | 13.76 | 6.75 | 6.24 | 13.65 | 17.71 | 12.76 | 18.55 | 22.91 | 22.40 | 12.60 | 17.41 | 29.24 | 31.95 | 23.89 | 20.27 | 33.58 | 26.34 | 28.03 | 43.84 | 31.79 | 57.95 |
| — | -47.1% | -66.3% | -40.4% | -21.0% | +1.3% | +6.5% | -21.6% | -29.9% | -47.2% | -14.1% | -12.9% | +21.3% | -14.8% | -53.8% | +5.6% | -54.5% | -50.6% | -24.5% | -38.5% | +29.8% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.5% | 31.3% | 30.4% | 25.6% | 30.1% | 27.2% | 28.8% | 26.9% | 30.4% | 34.6% | 29.3% | 28.4% | 31.1% | 31.1% | 30.9% | 29.3% | 32.4% | 32.6% | 29.2% | 33.4% | 34.3% |
| — | +14.7% | +5.5% | -4.7% | -1.2% | -21.2% | -1.7% | -5.4% | -2.0% | +11.3% | -5.2% | -3.1% | -4.0% | -4.8% | +5.9% | -12.1% | -5.7% | -3.8% | -13.6% | -0.4% | -3.6% | |
| Operating Margin | 9.6% | 12.3% | 10.8% | 8.5% | 10.6% | 11.2% | 9.3% | 7.6% | 10.9% | 15.2% | 10.5% | 9.5% | 10.6% | 9.9% | 12.3% | 9.9% | 13.8% | 14.7% | 7.8% | 11.0% | 15.0% |
| — | +10.2% | +15.1% | +11.0% | -3.0% | -26.2% | -11.1% | -19.5% | +3.3% | +53.2% | -14.8% | -4.6% | -23.5% | -32.6% | +58.4% | -9.9% | -7.4% | +0.8% | -45.2% | -19.7% | -3.4% | |
| Net Margin | 6.9% | 9.1% | 7.3% | 5.9% | 7.8% | 7.7% | 6.5% | 5.6% | 8.3% | 11.7% | 8.6% | 10.0% | 8.4% | 8.4% | 10.3% | 8.4% | 12.6% | 12.7% | 1.6% | 7.7% | 12.8% |
| — | +19.3% | +11.9% | +4.4% | -6.1% | -34.4% | -24.4% | -43.4% | -1.8% | +38.4% | -16.1% | +18.1% | -33.1% | -33.7% | +558.8% | +10.3% | -2.0% | +8.7% | -88.0% | -45.2% | +8.7% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.3% | 3.7% | 3.0% | 2.3% | 3.0% | 2.9% | 2.4% | 2.0% | 2.9% | 3.9% | 2.9% | 3.3% | 2.9% | 3.0% | 3.8% | 3.3% | 5.4% | 5.8% | 0.7% | 3.6% | 5.9% |
| — | +26.8% | +23.1% | +14.9% | +2.7% | -26.3% | -16.1% | -39.6% | -0.2% | +32.4% | -23.6% | +0.3% | -46.5% | -48.9% | +422.5% | -6.1% | -8.6% | +14.1% | -86.6% | -34.1% | +32.2% | |
| ROA | 7.8% | 2.8% | 2.2% | 1.7% | 2.2% | 2.2% | 1.9% | 1.6% | 2.2% | 3.1% | 2.3% | 2.7% | 2.3% | 2.4% | 2.9% | 2.5% | 4.0% | 4.3% | 0.5% | 2.6% | 4.2% |
| — | +25.9% | +19.0% | +10.8% | +0.0% | -28.8% | -18.7% | -41.8% | -2.1% | +33.4% | -22.0% | +5.2% | -42.8% | -44.9% | +458.8% | -0.8% | -4.8% | +14.7% | -86.8% | -35.6% | +29.7% | |
| ROIC | 15.5% | 4.7% | 4.1% | 3.4% | 4.3% | 4.3% | 3.5% | 2.9% | 4.9% | 7.7% | 5.3% | 5.1% | 5.7% | 5.2% | 6.7% | 5.9% | 8.6% | 9.0% | 4.6% | 6.9% | 9.6% |
| — | +8.3% | +17.2% | +17.8% | -11.3% | -43.8% | -33.4% | -42.8% | -14.7% | +46.6% | -21.5% | -13.5% | -33.2% | -41.8% | +46.0% | -15.6% | -10.8% | +2.2% | -48.9% | -19.7% | +8.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 0.04 | 0.08 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | 0.07 | 0.08 | 0.09 | 0.10 |
| — | -2.3% | -2.5% | +93.3% | -13.1% | -10.5% | -9.2% | -12.5% | -9.2% | -11.8% | -11.9% | -17.0% | -23.0% | -26.2% | -30.4% | -33.1% | -32.9% | -25.9% | -23.3% | -24.1% | -28.7% | |
| Debt / EBITDA | 0.21 | 0.70 | 0.78 | 1.79 | 0.75 | 0.83 | 0.97 | 1.12 | 0.95 | 0.80 | 1.10 | 1.21 | 1.10 | 1.18 | 1.02 | 1.22 | 0.95 | 0.92 | 1.64 | 1.36 | 1.17 |
| — | -15.3% | -19.0% | +59.5% | -20.2% | +3.2% | -12.1% | -7.3% | -14.3% | -32.0% | +8.0% | -0.7% | +16.6% | +27.8% | -38.0% | -10.0% | -19.1% | -25.9% | +15.4% | -21.5% | -36.4% | |
| Current Ratio | 2.59 | 2.76 | 2.75 | 2.67 | 2.59 | 3.02 | 3.17 | 3.06 | 2.96 | 4.56 | 4.84 | 4.68 | 4.79 | 4.77 | 4.92 | 4.15 | 3.69 | 3.47 | 3.45 | 3.32 | 2.97 |
| — | -8.5% | -13.1% | -12.9% | -12.2% | -33.8% | -34.5% | -34.6% | -38.3% | -4.3% | -1.6% | +12.9% | +29.8% | +37.3% | +42.7% | +25.0% | +24.2% | +5.0% | -11.6% | -23.3% | -27.6% | |
| Quick Ratio | 2.59 | 2.76 | 2.75 | 2.67 | 2.59 | 3.02 | 3.17 | 3.06 | 2.96 | 4.56 | 4.84 | 4.68 | 4.79 | 4.77 | 4.92 | 4.15 | 3.69 | 3.47 | 3.45 | 3.32 | 2.97 |
| — | -8.5% | -13.1% | -12.9% | -12.2% | -33.8% | -34.5% | -34.6% | -38.3% | -4.3% | -1.6% | +12.9% | +29.8% | +37.3% | +42.7% | +25.0% | +24.2% | +5.0% | -11.6% | -23.3% | -27.6% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 783.28 | 38.03 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying EPAM stock.
EPAM Systems, Inc.'s current P/E is 19.3x. The average P/E over the last 4 quarters is 17.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
EPAM Systems, Inc.'s current operating margin is 9.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking EPAM Systems, Inc.'s business trajectory between earnings reports.