EPAM Systems, Inc. (EPAM) quarterly income statement — complete revenue, gross profit & net income history
| Metric | 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 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 1.4B | 1.41B | 1.39B | 1.35B | 1.3B | 1.25B | 1.17B | 1.15B | 1.17B | 1.16B | 1.15B | 1.17B | 1.21B | 1.23B | 1.23B | 1.19B | 1.17B | 1.11B | 988.54M | 881.37M |
| Revenue Growth % | 7.56% | 12.75% | 19.43% | 18.04% | 11.69% | 7.87% | 1.34% | -2.02% | -3.76% | -6.01% | -6.1% | -2.06% | 3.36% | 11.18% | 24.11% | 35.57% | 50.06% | 53.07% | 51.56% | 39.37% |
| Cost of Goods Sold | 1.04B | 984.35M | 1.01B | 964.01M | 952.01M | 868.31M | 763.99M | 810.86M | 834.33M | 797.63M | 794.26M | 808.72M | 855.9M | 832.73M | 826.8M | 846.32M | 780.84M | 727.27M | 653.37M | 583.73M |
| COGS % of Revenue | 74.54% | 69.93% | 72.76% | 71.23% | 73.14% | 69.56% | 65.44% | 70.72% | 71.59% | 68.92% | 68.94% | 69.11% | 70.68% | 67.63% | 67.39% | 70.83% | 66.65% | 65.67% | 66.09% | 66.23% |
| Gross Profit | 358.34M | 423.2M | 379.89M | 389.43M | 349.68M | 380.04M | 403.54M | 335.74M | 331.13M | 359.62M | 357.87M | 361.49M | 355.04M | 398.57M | 400.12M | 348.54M | 390.78M | 380.2M | 335.17M | 297.64M |
| Gross Margin % | 25.59% | 30.07% | 27.24% | 28.77% | 26.86% | 30.44% | 34.56% | 29.28% | 28.41% | 31.08% | 31.06% | 30.89% | 29.32% | 32.37% | 32.61% | 29.17% | 33.35% | 34.33% | 33.91% | 33.77% |
| Gross Profit Growth % | 2.47% | 11.36% | -5.86% | 15.99% | 5.6% | 5.68% | 12.76% | -7.12% | -6.73% | -9.77% | -10.56% | 3.72% | -9.15% | 4.83% | 19.38% | 17.1% | 49.47% | 47.53% | 46.45% | 39.84% |
| Operating Expenses | 239.7M | 273.95M | 223.86M | 262.95M | 250.35M | 243.53M | 226.56M | 215.18M | 220.6M | 237.13M | 243.84M | 217.15M | 234.67M | 228.1M | 219.9M | 255.52M | 261.54M | 214.53M | 191.04M | 172.36M |
| OpEx % of Revenue | 17.12% | 19.46% | 16.05% | 19.43% | 19.23% | 19.51% | 19.4% | 18.77% | 18.93% | 20.49% | 21.16% | 18.56% | 19.38% | 18.52% | 17.92% | 21.38% | 22.32% | 19.37% | 19.33% | 19.56% |
| Selling, General & Admin | 239.7M | 243.16M | 223.86M | 231.68M | 218.92M | 216.97M | 206.82M | 194.06M | 198.45M | 213.97M | 194.83M | 194.38M | 211.89M | 204.95M | 198.02M | 232.53M | 237.28M | 190.94M | 169.5M | 151.91M |
| SG&A % of Revenue | 17.12% | 17.28% | 16.05% | 17.12% | 16.82% | 17.38% | 17.71% | 16.92% | 17.03% | 18.49% | 16.91% | 16.61% | 17.5% | 16.65% | 16.14% | 19.46% | 20.25% | 17.24% | 17.15% | 17.24% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 118.64M | 149.25M | 156.03M | 126.48M | 99.33M | 136.51M | 176.98M | 120.56M | 110.53M | 122.49M | 114.03M | 144.35M | 120.37M | 170.48M | 180.23M | 93.02M | 129.24M | 165.67M | 144.12M | 125.27M |
| Operating Margin % | 8.47% | 10.6% | 11.19% | 9.34% | 7.63% | 10.94% | 15.16% | 10.51% | 9.48% | 10.58% | 9.9% | 12.34% | 9.94% | 13.85% | 14.69% | 7.79% | 11.03% | 14.96% | 14.58% | 14.21% |
| Operating Income Growth % | 19.44% | 9.33% | -11.83% | 4.91% | -10.13% | 11.44% | 55.21% | -16.48% | -8.17% | -28.15% | -36.73% | 55.18% | -6.86% | 2.9% | 25.05% | -25.75% | 20.5% | 47.93% | 49.51% | 50.16% |
| EBITDA | 160.61M | 180.04M | 187.35M | 168.4M | 140.7M | 172.56M | 205.99M | 151.02M | 142.11M | 155.71M | 147.33M | 177.7M | 153.2M | 204.06M | 213.4M | 127.26M | 168.29M | 204.32M | 180.86M | 161.55M |
| EBITDA Margin % | 11.47% | 12.79% | 13.44% | 12.44% | 10.81% | 13.82% | 17.64% | 13.17% | 12.19% | 13.46% | 12.79% | 15.19% | 12.65% | 16.57% | 17.39% | 10.65% | 14.36% | 18.45% | 18.3% | 18.33% |
| EBITDA Growth % | 14.15% | 4.33% | -9.05% | 11.51% | -1% | 10.82% | 39.81% | -15.01% | -7.24% | -23.69% | -30.96% | 39.63% | -8.97% | -0.13% | 17.99% | -21.22% | 19.58% | 41.23% | 40.25% | 39.66% |
| D&A (Non-Cash Add-back) | 41.97M | 30.79M | 31.31M | 41.93M | 41.37M | 36.05M | 29.01M | 30.46M | 31.58M | 33.22M | 33.31M | 33.35M | 32.83M | 33.59M | 33.17M | 34.24M | 39.05M | 38.65M | 36.74M | 36.27M |
| EBIT | 118.64M | 143.82M | 143.62M | 126.48M | 99.33M | 136.51M | 176.98M | 120.56M | 110.53M | 122.49M | 139.95M | 144.35M | 120.37M | 170.48M | 180.23M | 93.02M | 129.24M | 165.67M | 144.12M | 125.27M |
| Net Interest Income | 597K | 89K | 3.86M | 3.52M | 5.81M | 6.45M | 13.35M | 12.04M | 15.04M | 13.96M | 13.93M | 11.71M | 11.52M | 4.38M | 4.23M | 1.58M | -165K | -4.36M | -5.33M | 2.58M |
| Interest Income | 597K | 89K | 3.86M | 3.52M | 5.81M | 6.45M | 13.35M | 12.04M | 15.04M | 13.96M | 13.93M | 11.71M | 11.52M | 4.38M | 4.23M | 1.58M | 0 | 0 | 0 | 2.58M |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 165K | 4.36M | 5.33M | 0 |
| Other Income/Expense | 2.01M | -5.43M | -12.42M | -2.71M | -4.91M | 819K | 12.64M | 13.25M | 13.12M | 4.91M | 17.82M | 5.7M | 6.91M | 30.68M | 10.92M | -84.36M | -22.95M | -5.72M | -8.77M | -2.11M |
| Pretax Income | 120.65M | 143.82M | 143.62M | 123.77M | 94.42M | 137.33M | 189.62M | 133.81M | 123.66M | 127.4M | 131.85M | 150.05M | 127.28M | 201.16M | 191.15M | 8.66M | 106.29M | 159.95M | 135.36M | 123.16M |
| Pretax Margin % | 8.62% | 10.22% | 10.3% | 9.14% | 7.25% | 11% | 16.24% | 11.67% | 10.61% | 11.01% | 11.44% | 12.82% | 10.51% | 16.34% | 15.58% | 0.72% | 9.07% | 14.44% | 13.69% | 13.97% |
| Income Tax | 38.13M | 34.47M | 36.8M | 35.74M | 20.93M | 34.03M | 53.27M | 35.16M | 7.41M | 29.85M | 34.65M | 30.01M | 24.99M | 46.12M | 35.09M | -9.95M | 16.57M | 17.67M | 19.7M | 8.49M |
| Effective Tax Rate % | 31.6% | 23.97% | 25.62% | 28.88% | 22.17% | 24.78% | 28.09% | 26.28% | 5.99% | 23.43% | 26.28% | 20% | 19.63% | 22.93% | 18.36% | -114.88% | 15.59% | 11.05% | 14.56% | 6.89% |
| Net Income | 82.52M | 109.35M | 106.82M | 88.03M | 73.48M | 103.3M | 136.35M | 98.64M | 116.24M | 97.55M | 97.2M | 120.03M | 102.29M | 155.04M | 156.05M | 18.6M | 89.72M | 142.28M | 115.66M | 114.67M |
| Net Margin % | 5.89% | 7.77% | 7.66% | 6.5% | 5.65% | 8.27% | 11.68% | 8.6% | 9.97% | 8.43% | 8.44% | 10.26% | 8.45% | 12.59% | 12.72% | 1.56% | 7.66% | 12.85% | 11.7% | 13.01% |
| Net Income Growth % | 12.3% | 5.86% | -21.66% | -10.76% | -36.79% | 5.89% | 40.27% | -17.82% | 13.64% | -37.08% | -37.71% | 545.2% | 14.01% | 8.97% | 34.93% | -83.78% | -17.72% | 66.33% | 29.32% | 72.12% |
| Net Income (Continuing) | 82.52M | 109.35M | 106.82M | 88.03M | 73.48M | 103.3M | 136.35M | 98.64M | 116.24M | 97.55M | 97.2M | 120.03M | 102.29M | 155.04M | 156.05M | 18.6M | 89.72M | 142.28M | 115.66M | 114.67M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 582K | 582K | 582K | 582K | 582K | 1.94M | 582K | 582K | 575K | 579K | 579K | 579K | 1.48M | 1.48M | 1.48M | 1.65M | 1.65M | 8.72M | 0 | 0 |
| EPS (Diluted) | 1.52 | 1.98 | 1.91 | 1.56 | 1.28 | 1.80 | 2.37 | 1.70 | 1.97 | 1.66 | 1.65 | 2.03 | 1.73 | 2.61 | 2.63 | 0.32 | 1.52 | 2.40 | 1.95 | 1.94 |
| EPS Growth % | 18.75% | 10% | -19.41% | -8.24% | -35.03% | 8.43% | 43.64% | -16.26% | 13.87% | -36.4% | -37.26% | 534.38% | 13.82% | 8.75% | 34.87% | -83.51% | -18.28% | 64.38% | 27.45% | 70.18% |
| EPS (Basic) | 1.53 | 1.99 | 1.92 | 1.56 | 1.29 | 1.82 | 2.40 | 1.71 | 2.01 | 1.69 | 1.68 | 2.07 | 1.77 | 2.69 | 2.72 | 0.33 | 1.52 | 2.51 | 2.04 | 2.03 |
| Diluted Shares Outstanding | 54.18M | 55.34M | 55.82M | 56.9M | 57.26M | 57.44M | 57.42M | 58.15M | 58.93M | 58.91M | 58.95M | 59.18M | 59.3M | 59.35M | 59.36M | 59.02M | 58.94M | 59.25M | 59.2M | 59.01M |
| Basic Shares Outstanding | 53.79M | 54.94M | 55.56M | 56.55M | 56.78M | 56.82M | 56.91M | 57.59M | 57.84M | 57.77M | 57.85M | 57.99M | 57.7M | 57.58M | 57.42M | 57.24M | 56.91M | 56.75M | 56.65M | 56.46M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |