EPAM Systems, Inc. EPAM

Technology SIC 7371 - Services-Computer Programming Services NAICS Professional, Scientific, and Technical Services › Computer Systems Design and Related Services › Custom Computer Programming Services derived NYSE

EPAM has used its software engineering expertise to become a leading global provider of digital engineering, cloud and artificial intelligence-enabled transformation services, and a leading business and experience consulting partner for global enterprises and ambitious start-ups. We address our clients' transformation challenges by fusing EPAM Continuum's integrated strategy, experience and technology consulting with our 30+ years of engineering execution to speed our clients' time to market and drive greater value from their innovations and digital investments.

We leverage AI to deliver transformative solutions that accelerate our clients' digital innovation and enhance their competitive edge. Through platforms like EPAM AI/RUN™ and initiatives like DIALX Lab™, we integrate advanced AI technologies into tailored business strategies, driving significant industry impact and fostering continuous innovation.

Last close 136.25 2026-10-23
Market cap $7.03B 2026-06-30 share count
52-week range 73.06 - 222.53

Valuation FY2025 figures against the last close

P/S1.3x
P/E20.3x
P/FCF11.5x
EV/EBITDA10.0x
Dividend yield—
Diluted EPS6.72

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $5.46B$4.73B$4.69B$4.82B$3.76B$2.66B$2.29B$1.84B$1.45B$1.16B
Cost of revenue $3.88B$3.28B$3.26B$3.29B$2.48B$1.73B$1.49B$1.19B$921.4M$737.2M
Gross profit $1.57B$1.45B$1.43B$1.54B$1.27B$927.0M$805.6M$656.0M$529.1M$422.9M
SG&A $928.7M$816.3M$815.1M$872.8M$648.7M$484.8M$457.4M$373.6M$327.6M$265.9M
Operating income $520.0M$544.6M$501.2M$573.0M$542.3M$379.3M$302.9M$245.8M$172.9M$133.7M
Pre-tax income $505.6M$584.4M$536.6M$507.3M$533.4M$378.5M$299.5M$249.8M$174.3M$126.5M
Income tax $127.9M$129.9M$119.5M$87.8M$51.7M$51.3M$38.5M$9.5M$101.5M$27.2M
Net income $377.7M$454.5M$417.1M$419.4M$481.7M$327.2M$261.1M$240.3M$72.8M$99.3M
EPS, basic 6.767.937.217.328.525.874.774.481.401.97
EPS, diluted 6.727.847.067.098.155.604.534.241.321.87
Shares, diluted (wtd. avg.) 56.2M58.0M59.1M59.2M59.1M58.4M57.7M56.7M55.0M53.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.30B$1.29B$2.04B$1.68B$1.45B$1.32B$937.7M$771.7M$582.9M$364.7M
Short-term investments —$1.7M$60.7M$60.3M——————
Receivables ———————$0$265.6M$200.0M
Total current assets $2.53B$2.43B$3.09B$2.76B$2.27B$1.91B$1.47B$1.20B$960.0M$646.6M
Property, plant and equipment $202.4M$207.7M$235.1M$273.3M$236.2M$169.5M$165.3M$102.6M$86.4M$73.6M
Goodwill $1.21B$1.18B$562.5M$529.1M$530.7M$212.0M$195.0M$166.8M$119.5M$109.3M
Other intangibles $406.6M$436.4M$71.1M$77.7M$101.1M$52.0M$56.3M$57.1M$44.5M$51.3M
Total assets $4.90B$4.75B$4.35B$4.01B$3.52B$2.72B$2.24B$1.61B$1.25B$925.8M
Accounts payable $55.3M$44.7M$32.0M$30.9M$24.8M$10.2M$7.8M$7.4M$5.6M$3.2M
Short-term debt ———$2.9M$16.0M$0————
Total current liabilities $976.9M$821.0M$644.9M$747.5M$763.4M$465.9M$386.9M$262.8M$181.0M$116.2M
Long-term debt $25.0M$25.2M$26.1M$27.7M$30.2M$25.0M————
Total liabilities $1.22B$1.12B$880.9M$1.01B$1.03B$738.3M$648.1M$349.2M$275.3M$144.4M
Total equity $3.68B$3.63B$3.47B$3.00B$2.50B$1.98B$1.60B$1.26B$974.9M$781.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $654.9M$559.2M$562.6M$464.1M$572.3M$544.4M$287.5M$292.2M$192.8M$167.2M
Depreciation and amortisation $53.1M$59.4M$68.2M$69.0M$65.5M$50.5M$35.4M$28.5M$28.6M$23.4M
Stock-based compensation $176.8M$167.3M$147.7M$99.9M$111.7M$75.2M$72.0M$59.2M$52.4M$49.2M
Capital expenditure $42.2M$32.1M$28.4M$81.6M$111.5M$68.8M$99.3M$37.6M$29.8M$29.3M
Investing cash flow -$49.0M-$885.0M-$66.8M-$182.9M-$368.9M-$167.2M-$145.4M-$112.1M-$36.2M-$9.3M
Financing cash flow -$651.2M-$390.4M-$165.8M-$2.0M-$59.6M-$765.0K$20.4M$23.0M$49.7M$10.5M
Buybacks $662.2M$398.0M$164.9M$0$0—————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-013337.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2B 4B 6B Revenue, FY2016: 1.2B Gross profit, FY2016: 422.9M Net income, FY2016: 99.3M Revenue, FY2017: 1.5B Gross profit, FY2017: 529.1M Net income, FY2017: 72.8M Revenue, FY2018: 1.8B Gross profit, FY2018: 656M Net income, FY2018: 240.3M Revenue, FY2019: 2.3B Gross profit, FY2019: 805.6M Net income, FY2019: 261.1M Revenue, FY2020: 2.7B Gross profit, FY2020: 927M Net income, FY2020: 327.2M Revenue, FY2021: 3.8B Gross profit, FY2021: 1.3B Net income, FY2021: 481.7M Revenue, FY2022: 4.8B Gross profit, FY2022: 1.5B Net income, FY2022: 419.4M Revenue, FY2023: 4.7B Gross profit, FY2023: 1.4B Net income, FY2023: 417.1M Revenue, FY2024: 4.7B Gross profit, FY2024: 1.5B Net income, FY2024: 454.5M Revenue, FY2025: 5.5B Gross profit, FY2025: 1.6B Net income, FY2025: 377.7M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.16B $1.45B $1.84B $2.29B $2.66B $3.76B $4.82B $4.69B $4.73B $5.46B
Gross profit $422.9M $529.1M $656.0M $805.6M $927.0M $1.27B $1.54B $1.43B $1.45B $1.57B
Net income $99.3M $72.8M $240.3M $261.1M $327.2M $481.7M $419.4M $417.1M $454.5M $377.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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