EPAM

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EPAM Systems, Inc.

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Key Metrics

Previous Close: $107.37
52-Week Range: $73.06 – $222.53
Market Cap: $5.51B
P/E (TTM): 14.49
EPS (TTM): 7.37
Dividend Yield: —

Advanced Metrics

Price/Book: 1.57
PEG Ratio: 0.57
Return on Equity: 11.18%
Return on Assets: 8.45%
Gross Margin: 29.45%
Operating Margin: 10.94%
Profit Margin: 7.15%
Current Ratio: 2.75
Debt/Equity: 0.04
Total Debt: $152.24M
Free Cash Flow: $650.16M
Revenue Growth: 4.50%
Earnings Growth: 26.30%
Enterprise Value: $4.90B

EPAM Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$4.82B	$4.69B	$4.73B	$5.46B
Cost of Revenue	$3.29B	$3.26B	$3.28B	$3.88B
Gross Profit	$1.54B	$1.43B	$1.45B	$1.57B
Selling, General & Admin	$872.78M	$815.07M	$816.30M	$928.71M
Operating Expenses	$965.05M	$906.87M	$905.86M	$1.05B
Operating Income	$572.97M	$527.16M	$544.58M	$520.00M
EBITDA	$713.01M	$659.86M	$671.69M	$686.08M
Pretax Income	$507.26M	$536.59M	$584.41M	$505.62M
Income Tax	$87.84M	$119.50M	$129.88M	$127.95M
Net Income	$419.42M	$417.08M	$454.53M	$377.68M
Diluted EPS	7.09	7.06	7.84	6.72
Diluted Shares	59.17M	59.09M	57.98M	56.23M

EPAM Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$1.68B	$2.04B	$1.29B	$1.30B
Receivables	$932.63M	$897.03M	$1.00B	$1.11B
Current Assets	$2.76B	$3.09B	$2.43B	$2.53B
Total Assets	$4.01B	$4.35B	$4.75B	$4.90B
Current Liabilities	$747.48M	$644.93M	$821.04M	$976.94M
Long-Term Debt	$27.69M	$26.13M	$25.19M	$25.03M
Total Debt	$190.36M	$171.94M	$163.25M	$143.70M
Total Liabilities	$1.01B	$880.89M	$1.12B	$1.22B
Retained Earnings	$2.25B	$2.50B	$2.56B	$2.27B
Shareholders' Equity	$3.00B	$3.47B	$3.63B	$3.68B
Working Capital	$2.01B	$2.45B	$1.61B	$1.56B

EPAM Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$464.10M	$562.63M	$559.17M	$654.93M
Capital Expenditure	-$81.63M	-$28.41M	-$32.15M	-$42.24M
Free Cash Flow	$382.48M	$534.22M	$527.02M	$612.69M
Depreciation & Amortisation	$140.05M	$132.70M	$127.10M	$166.08M
Stock-Based Compensation	$99.91M	$147.73M	$167.30M	$176.76M
Investing Cash Flow	-$182.93M	-$66.77M	-$884.98M	-$49.05M
Financing Cash Flow	-$2.02M	-$165.77M	-$390.41M	-$651.20M
Share Repurchases	$0.00	-$164.92M	-$398.03M	-$662.16M
Net Change in Cash	$279.16M	$330.09M	-$716.22M	-$45.31M

EPAM Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$1.30B	$1.35B	$1.39B	$1.41B	$1.40B
Cost of Revenue	$952.01M	$964.01M	$983.17M	$984.35M	$1.01B
Gross Profit	$349.68M	$389.43M	$411.20M	$423.20M	$388.01M
Selling, General & Admin	$218.92M	$231.68M	$234.95M	$243.16M	$239.70M
Operating Expenses	$250.35M	$262.95M	$266.26M	$273.95M	$271.24M
Operating Income	$99.33M	$126.48M	$144.94M	$149.25M	$116.77M
EBITDA	$140.70M	$168.40M	$186.61M	$190.37M	$158.74M
Pretax Income	$94.42M	$123.77M	$143.62M	$143.82M	$120.65M
Income Tax	$20.93M	$35.74M	$36.80M	$34.47M	$38.13M
Net Income	$73.48M	$88.03M	$106.82M	$109.35M	$82.52M
Diluted EPS	1.28	1.56	1.91	1.98	1.52
Diluted Shares	57.26M	56.54M	55.82M	55.34M	54.18M

EPAM Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$1.17B	$1.04B	$1.24B	$1.30B	$1.04B
Receivables	$1.09B	$1.16B	$1.13B	$1.11B	$1.17B
Current Assets	$2.42B	$2.37B	$2.52B	$2.53B	$2.36B
Total Assets	$4.72B	$4.71B	$4.84B	$4.90B	$4.70B
Current Liabilities	$789.12M	$747.43M	$835.26M	$976.94M	$884.33M
Long-Term Debt	$25.06M	$25.04M	$25.04M	$25.03M	$165.00M
Total Debt	$158.14M	$162.69M	$155.22M	$143.70M	$287.94M
Total Liabilities	$1.08B	$1.04B	$1.12B	$1.22B	$1.27B
Retained Earnings	$2.47B	$2.36B	$2.38B	$2.27B	$2.08B
Shareholders' Equity	$3.64B	$3.67B	$3.73B	$3.68B	$3.43B
Working Capital	$1.63B	$1.62B	$1.69B	$1.56B	$1.47B

EPAM Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$24.16M	$53.20M	$294.68M	$282.89M	-$36.36M
Capital Expenditure	-$9.33M	-$9.83M	-$8.30M	-$14.78M	-$17.86M
Free Cash Flow	$14.83M	$43.37M	$286.38M	$268.11M	-$54.22M
Depreciation & Amortisation	$41.37M	$41.93M	$41.67M	$41.12M	$41.97M
Stock-Based Compensation	$48.46M	$38.56M	$44.60M	$45.15M	$49.92M
Investing Cash Flow	-$5.31M	-$18.21M	-$9.28M	-$16.25M	-$15.65M
Financing Cash Flow	-$149.51M	-$204.06M	-$85.65M	-$211.98M	-$192.20M
Share Repurchases	-$160.00M	-$196.53M	-$82.10M	-$223.53M	-$323.98M
Net Change in Cash	-$130.66M	-$169.07M	$199.75M	$54.66M	-$244.21M

Market Snapshot

About

EPAM Systems is a global provider of digital platform engineering and software development services. The company offers end-to-end software product development, digital experience platforms, and engineering consulting services. EPAM serves clients across financial services, healthcare, retail, travel, and other industries primarily in North America, Europe, and Asia. The company combines deep industry expertise with technology innovation to help clients accelerate their digital transformation initiatives.