EPAM Systems, Inc. EPAM SPX

Technology · Information Technology Services · United States

https://www.epam.com

EPAM 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; cloud services for creating a roadmap to set and refine IT and business goals while identifying new and emerging opportunities leveraging cloud technologies; data, analytics and artificial intelligence; customer experience; marketing; and cybersecurity. It also offers operation solutions comprising integrated engineering practices and smart automation services. In addition, the company offers software product and platform development services, which comprise product research, customer experience design and prototyping, program management, component design and integration, full lifecycle software testing, product deployment and end-user customization, performance tuning, product support and maintenance, managed services, as well as cross-platform migration and modernizing legacy platforms. The company serves the financial services; consumer goods, retail and travel; software and Hi-tech; business information and media, life sciences and healthcare; and emerging verticals industries EPAM Systems, Inc. was founded in 1993 and is headquartered in Newtown, Pennsylvania.

Market & Price

Market Cap

$5.35B

Current Price

$102.46

High / Low (52W)

$221.40 / $89.69

Beta

1.45

Valuation

Stock P/E

14.72

Industry PE

32.74

Forward P/E

7.26

PEG Ratio

0.52

Book Value

$65.04

Price to Book

1.58

P/S

0.96

EV/EBITDA

6.29

Dividend Yield

Profitability & Returns

ROCE

13.25%

ROE

10.93%

ROA

8.05%

Profit Margin

6.96%

Op Margin

9.51%

EPS (Latest Qtr)

$1.52

EPS (TTM)

$6.96

Balance Sheet & Liquidity

Debt/Equity

0.08

Quick Ratio

2.52

Current Ratio

2.67

Debt

$287.94M

Total Assets

$4.90B

Current Assets

$2.53B

Working Capital

$1.56B

Ownership

Promoter Holding

3.24%

Chg in Prom Hold

FII / Inst Holding

117.85%

Chg in FII Hold

-0.32%

Financial Snapshot

Enterprise Value

$4.60B

Total Revenue (TTM)

$5.56B

EBITDA

$731.45M

Free Cash Flow

$692.90M

Operating Cash Flow

$594.41M

Shares Outstanding

52.24M

Gross Margin

29.05%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

4.19%

Profit 5Y

-3.43%

Revenue (YoY)

7.60%

Earnings (YoY)

18.80%

PROS

Generates positive free cash flow.

CONS

Earnings shrank at -3.4% CAGR over 5 years.
Trading 53.7% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	EPAM EPAM Systems, Inc. SPX	102.46	14.72	$5.35B	-	13.25%	10.93%	4.19%	-3.43%
2	NVDA NVIDIA Corporation NDXSPXAI	211.14	32.38	$5.11T	0.47%	81.14%	114.29%	100.05%	201.80%
3	AAPL Apple Inc. NDXSPX	312.06	37.73	$4.58T	0.35%	68.72%	141.47%	1.81%	3.92%
4	MSFT Microsoft Corporation NDXSPXAI	450.24	26.82	$3.34T	0.81%	26.37%	34.01%	12.42%	11.87%
5	TSM Taiwan Semiconductor Manufacturing Company Limited AI	418.45	35.86	$2.17T	0.91%	32.04%	36.21%	18.94%	19.57%
6	MU Micron Technology, Inc. NDXSPXAI	971.00	45.87	$1.10T	0.06%	14.20%	39.82%	6.71%	-0.57%
7	AMD Advanced Micro Devices, Inc. NDXSPXAI	516.10	172.61	$841.55B	-	6.33%	8.06%	13.64%	48.64%
8	ORCL Oracle Corporation SPXAI	225.78	40.46	$649.35B	0.89%	13.07%	57.57%	10.59%	22.81%
9	ASML ASML Holding N.V. NDXAI	1,612.76	53.76	$621.59B	0.54%	43.81%	52.24%	15.55%	19.55%

Quarterly Results

Figures in USD.

Metric	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	324.65M	348.98M	377.52M	399.30M	424.15M	445.65M	468.19M	504.93M	521.33M	551.59M	588.10M	632.77M	651.36M	632.38M	652.24M	723.49M	780.77M	881.37M	988.54M	1.17B	1.19B	1.23B	1.21B	1.17B	1.15B	1.17B	1.15B	-	-	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
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	250.35M	262.95M	266.26M	273.95M	271.24M
Operating Income	27.78M	31.77M	30.33M	32.08M	33.90M	37.38M	30.97M	40.68M	49.25M	52.05M	48.70M	54.24M	64.56M	78.27M	64.66M	72.88M	80.56M	84.75M	87.51M	83.43M	96.40M	111.99M	107.25M	125.27M	144.12M	129.24M	93.02M	180.23M	120.37M	144.35M	114.03M	110.53M	120.56M	-	-	99.33M	126.48M	144.94M	149.25M	116.77M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	140.70M	168.40M	186.61M	190.37M	158.74M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	94.42M	123.77M	143.62M	143.82M	120.65M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20.93M	35.74M	36.80M	34.47M	38.13M
Net Income	22.87M	27.64M	23.90M	24.43M	26.17M	24.76M	23.64M	37.36M	42.63M	-30.87M	64.42M	50.26M	65.62M	59.97M	60.75M	58.78M	67.00M	74.52M	85.56M	66.62M	89.43M	85.54M	109.05M	114.67M	115.66M	89.72M	18.60M	156.05M	102.29M	120.03M	97.20M	116.24M	98.64M	-	-	73.48M	88.03M	106.82M	109.35M	82.52M
Diluted EPS	0.44	0.52	0.45	0.46	0.49	0.46	0.44	0.68	0.77	-0.58	1.15	0.89	1.15	1.05	1.06	1.02	1.16	1.29	1.47	1.14	1.53	1.46	1.86	1.94	1.95	1.52	0.32	2.63	1.73	2.03	1.65	1.97	1.70	-	-	1.28	1.56	1.91	1.98	1.52

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	1.16B	1.45B	1.84B	2.29B	2.66B	-	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
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	965.05M	906.87M	905.86M	1.05B
Operating Income	32.79M	55.01M	66.01M	76.49M	86.18M	105.97M	133.70M	172.95M	245.76M	302.85M	379.32M	-	572.97M	527.16M	544.58M	520.00M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	713.01M	659.86M	671.69M	686.08M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	1.73M	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	507.26M	536.59M	584.41M	505.62M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	87.84M	119.50M	129.88M	127.95M
Net Income	28.31M	44.35M	54.48M	61.99M	69.64M	84.46M	99.27M	72.76M	240.26M	261.06M	327.16M	-	419.42M	417.08M	454.53M	377.68M
Diluted EPS	-	-	1.17	1.28	1.40	1.62	1.87	1.32	4.24	4.53	5.60	-	7.09	7.06	7.84	6.72

Compounded Sales Growth

5 Years:	4.19%
1 Year:	7.60%

Compounded Profit Growth

5 Years:	-3.43%
1 Year:	18.80%

Stock Price Performance

1 Year:	-41.28%
6 Months:	-44.85%
3 Months:	-27.33%
1 Month:	-9.26%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	235.61M	350.81M	432.88M	594.03M	778.54M	925.81M	1.25B	1.61B	2.24B	2.72B	-	4.01B	4.35B	4.75B	4.90B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	2.76B	3.09B	2.43B	2.53B
Cash & Equivalents	52.93M	54.00M	88.80M	118.11M	169.21M	220.53M	199.45M	362.02M	582.59M	770.56M	936.55M	1.32B	-	1.68B	2.04B	1.29B	1.30B
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	932.63M	897.03M	1.00B	1.11B
Total Liabilities	-	-	54.61M	64.53M	56.78M	129.98M	165.31M	144.40M	275.31M	349.21M	648.06M	738.31M	-	1.01B	880.89M	1.12B	1.22B
Current Liabilities	-	-	53.13M	59.35M	54.66M	125.41M	127.91M	116.22M	180.97M	262.83M	386.95M	465.95M	-	747.48M	644.93M	821.04M	976.94M
Long Term Debt	-	-	-	-	-	-	-	-	-	-	-	25.04M	-	27.69M	26.13M	25.19M	25.03M
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	190.36M	171.94M	163.25M	143.70M
Total Equity	16.53M	66.25M	95.06M	286.28M	376.10M	464.05M	613.22M	781.41M	974.95M	1.26B	1.60B	1.98B	-	3.00B	3.47B	3.63B	3.68B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	57.67M	57.79M	56.87M	54.27M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	20.47M	54.52M	48.50M	58.23M	104.87M	76.39M	167.22M	192.82M	292.22M	287.45M	544.41M	-	464.10M	562.63M	559.17M	654.93M
Investing Cash Flow	-10.83M	-17.41M	-59.63M	-21.82M	-52.93M	-125.49M	-9.32M	-36.15M	-112.12M	-145.37M	-167.15M	-	-182.93M	-66.77M	-884.98M	-49.05M
Financing Cash Flow	-8.04M	-1.56M	38.85M	15.50M	10.35M	33.76M	10.47M	49.75M	23.00M	20.36M	-765.00K	-	-2.02M	-165.77M	-390.41M	-651.20M
Capital Expenditure	-8.37M	-15.55M	-13.38M	-13.36M	-11.92M	-13.27M	-29.32M	-29.81M	-37.57M	-99.31M	-68.79M	-	-81.63M	-28.41M	-32.15M	-42.24M
Free Cash Flow	12.11M	38.97M	35.12M	44.87M	92.96M	63.12M	137.90M	163.01M	254.64M	188.15M	475.61M	-	382.48M	534.22M	527.02M	612.69M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	279.16M	330.09M	-716.22M	-45.31M
Share Buybacks	-	-	-	-	-	-	-	-	-	-	-	0	0	164.92M	398.03M	662.16M

Ratios (Annual)

Figures in %.

Metric	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	-	31.9%	30.6%	30.7%	28.8%
Operating Margin %	-	-	-	-	-	-	11.5%	11.9%	13.3%	13.2%	14.3%	-	11.9%	11.2%	11.5%	9.5%
Net Margin %	-	-	-	-	-	-	8.6%	5.0%	13.0%	11.4%	12.3%	-	8.7%	8.9%	9.6%	6.9%
ROE %	42.7%	46.7%	19.0%	16.5%	15.0%	13.8%	12.7%	7.5%	19.0%	16.4%	16.5%	-	14.0%	12.0%	12.5%	10.3%
ROCE %	-	30.1%	22.6%	20.2%	18.4%	16.3%	16.5%	16.2%	18.2%	16.3%	16.8%	-	17.6%	14.2%	13.9%	13.2%

Shareholding Pattern

Insiders

3.24%

Institutions

117.85%

Public Float

121.79%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Capital World Investors	13.09%	6.84M	$700.84M
2	Invesco Ltd.	8.38%	4.38M	$448.66M
3	Blackrock Inc.	7.83%	4.09M	$418.92M
4	Ameriprise Financial, Inc.	7.24%	3.78M	$387.64M
5	Vanguard Capital Management LLC	6.63%	3.46M	$354.92M
6	Vanguard Portfolio Management LLC	5.66%	2.96M	$303.05M
7	State Street Corporation	4.27%	2.23M	$228.81M
8	Boston Partners	4.04%	2.11M	$216.32M
9	Geode Capital Management, LLC	3.09%	1.62M	$165.56M
10	Massachusetts Financial Services Co.	2.85%	1.49M	$152.41M

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EPAM · Technology

EPAM Systems, Inc.

About

Key Facts

Sector	Technology
Industry	Information Technology Services
Headquarters	United States
Employees	62,750
Website	https://www.epam.com

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EPAM Systems, Inc. EPAM SPX

Market & Price

Valuation

Profitability & Returns

Balance Sheet & Liquidity

Ownership

Financial Snapshot

Growth (CAGR)

PROS

CONS

Price Chart

Technical Trend

Fundamental Growth

Peer comparison

Quarterly Results

Profit & Loss (Annual)

Compounded Sales Growth

Compounded Profit Growth

Stock Price Performance

Balance Sheet (Annual)

Cash Flows (Annual)

Ratios (Annual)

Shareholding Pattern

Top Institutional Holders

Analyst View

Latest News

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