What is Epam Sys Inc's earnings per share (EPS)?

Epam Sys Inc (EPAM) reported diluted earnings per share of $6.72 for fiscal year 2025. This represents a -14.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Epam Sys Inc Financials

EPAM

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Epam Sys Inc (EPAM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 56/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Epam Sys Inc has an operating margin of 9.5%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 43/100, indicating healthy but not exceptional operating efficiency. This is down from 11.5% the prior year.

Growth

Epam Sys Inc's revenue surged 15.4% year-over-year to $5.5B, reflecting rapid business expansion. This strong growth earns a score of 59/100.

Leverage

100

Epam Sys Inc carries a low D/E ratio of 0.01, meaning only $0.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Epam Sys Inc's current ratio of 2.59 indicates adequate short-term liquidity, earning a score of 49/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Epam Sys Inc has a free cash flow margin of 11.2%, earning a moderate score of 53/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Epam Sys Inc's ROE of 10.3% shows moderate profitability relative to equity, earning a score of 34/100. This is down from 12.5% the prior year.

Piotroski F-Score Neutral

6/9

Epam Sys Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.73x

For every $1 of reported earnings, Epam Sys Inc generates $1.73 in operating cash flow ($654.9M OCF vs $377.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$5.5B

YoY+15.4%

5Y CAGR+15.5%

10Y CAGR+19.6%

Epam Sys Inc generated $5.5B in revenue in fiscal year 2025. This represents an increase of 15.4% from the prior year.

EBITDA

$644.8M

YoY+1.7%

5Y CAGR+7.8%

10Y CAGR+18.0%

Epam Sys Inc's EBITDA was $644.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 1.7% from the prior year.

Net Income

$377.7M

YoY-16.9%

5Y CAGR+2.9%

10Y CAGR+16.2%

Epam Sys Inc reported $377.7M in net income in fiscal year 2025. This represents a decrease of 16.9% from the prior year.

EPS (Diluted)

$6.72

YoY-14.3%

5Y CAGR+3.7%

10Y CAGR+15.3%

Epam Sys Inc earned $6.72 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 14.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$612.7M

YoY+16.3%

5Y CAGR+5.2%

10Y CAGR+25.5%

Epam Sys Inc generated $612.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 16.3% from the prior year.

Cash & Debt

$1.3B

YoY+0.8%

5Y CAGR-0.4%

10Y CAGR+20.6%

Epam Sys Inc held $1.3B in cash against $25.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

54M

YoY-4.8%

5Y CAGR-0.7%

10Y CAGR+0.7%

Epam Sys Inc had 54M shares outstanding in fiscal year 2025. This represents a decrease of 4.8% from the prior year.

Margins & Returns

Gross Margin

28.8%

YoY-1.9pp

5Y CAGR-6.0pp

10Y CAGR-9.2pp

Epam Sys Inc's gross margin was 28.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.9 percentage points from the prior year.

Operating Margin

9.5%

YoY-2.0pp

5Y CAGR-4.7pp

10Y CAGR-2.1pp

Epam Sys Inc's operating margin was 9.5% in fiscal year 2025, reflecting core business profitability. This is down 2.0 percentage points from the prior year.

Net Margin

6.9%

YoY-2.7pp

5Y CAGR-5.4pp

10Y CAGR-2.3pp

Epam Sys Inc's net profit margin was 6.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.7 percentage points from the prior year.

Return on Equity

10.3%

YoY-2.3pp

5Y CAGR-6.2pp

10Y CAGR-3.5pp

Epam Sys Inc's ROE was 10.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$662.2M

YoY+66.4%

Epam Sys Inc spent $662.2M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 66.4% from the prior year.

Capital Expenditures

$42.2M

YoY+31.4%

5Y CAGR-9.3%

10Y CAGR+12.3%

Epam Sys Inc invested $42.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 31.4% from the prior year.

EPAM Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$5.5B+15.4%	$4.7B+0.8%	$4.7B-2.8%	$4.8B+28.4%	$3.8B+41.3%	$2.7B
Cost of Revenue	$3.9B+18.5%	$3.3B+0.6%	$3.3B-0.9%	$3.3B+32.3%	$2.5B+43.4%	$1.7B
Gross Profit	$1.6B+8.5%	$1.5B+1.1%	$1.4B-6.8%	$1.5B+20.7%	$1.3B+37.5%	$927.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$928.7M+13.8%	$816.3M+0.2%	$815.1M-6.6%	$872.8M+34.5%	$648.7M+33.8%	$484.8M
Operating Income	$520.0M-4.5%	$544.6M+8.6%	$501.2M-12.5%	$573.0M+5.7%	$542.3M+43.0%	$379.3M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$127.9M-1.5%	$129.9M+8.7%	$119.5M+36.0%	$87.8M+69.8%	$51.7M+0.8%	$51.3M
Net Income	$377.7M-16.9%	$454.5M+9.0%	$417.1M-0.6%	$419.4M-12.9%	$481.7M+47.2%	$327.2M
EPS (Diluted)	$6.72-14.3%	$7.84+11.0%	$7.06-0.4%	$7.09-13.0%	$8.15+45.5%	$5.60

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$1.4B+0.9%	$1.4B+3.0%	$1.4B+4.0%	$1.3B+4.3%	$1.2B+6.9%	$1.2B+1.8%	$1.1B-1.6%	$1.2B
Cost of Revenue	$984.3M+0.1%	$983.2M+2.0%	$964.0M+1.3%	$952.0M+9.6%	$868.3M+13.7%	$764.0M-5.8%	$810.9M-2.8%	$834.3M
Gross Profit	$423.2M+2.9%	$411.2M+5.6%	$389.4M+11.4%	$349.7M-8.0%	$380.0M-5.8%	$403.5M+20.2%	$335.7M+1.4%	$331.1M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$243.2M+3.5%	$234.9M+1.4%	$231.7M+5.8%	$218.9M+0.9%	$217.0M+4.9%	$206.8M+6.6%	$194.1M-2.2%	$198.5M
Operating Income	$149.3M+3.0%	$144.9M+14.6%	$126.5M+27.3%	$99.3M-27.2%	$136.5M-22.9%	$177.0M+46.8%	$120.6M+9.1%	$110.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$34.5M-6.3%	$36.8M+3.0%	$35.7M+70.7%	$20.9M-38.5%	$34.0M-36.1%	$53.3M+51.5%	$35.2M+374.4%	$7.4M
Net Income	$109.4M+2.4%	$106.8M+21.3%	$88.0M+19.8%	$73.5M-28.9%	$103.3M-24.2%	$136.3M+38.2%	$98.6M-15.1%	$116.2M
EPS (Diluted)	N/A	$1.91+22.4%	$1.56+21.9%	$1.28	N/A	$2.37+39.4%	$1.70-13.7%	$1.97

EPAM Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$4.9B+3.2%	$4.8B+9.1%	$4.4B+8.6%	$4.0B+13.8%	$3.5B+29.5%	$2.7B
Current Assets	$2.5B+4.4%	$2.4B-21.5%	$3.1B+12.0%	$2.8B+21.6%	$2.3B+18.6%	$1.9B
Cash & Equivalents	$1.3B+0.8%	$1.3B-36.8%	$2.0B+21.1%	$1.7B+16.2%	$1.4B+9.4%	$1.3B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.2B+2.5%	$1.2B+110.1%	$562.5M+6.3%	$529.1M-0.3%	$530.7M+150.4%	$212.0M
Total Liabilities	$1.2B+9.4%	$1.1B+27.1%	$880.9M-12.4%	$1.0B-2.1%	$1.0B+39.2%	$738.3M
Current Liabilities	$976.9M+19.0%	$821.0M+27.3%	$644.9M-13.7%	$747.5M-2.1%	$763.4M+63.8%	$465.9M
Long-Term Debt	$25.0M-0.6%	$25.2M-3.6%	$26.1M-5.7%	$27.7M-8.4%	$30.2M+20.8%	$25.0M
Total Equity	$3.7B+1.3%	$3.6B+4.6%	$3.5B+15.6%	$3.0B+20.7%	$2.5B+25.4%	$2.0B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$4.9B+1.2%	$4.8B+2.8%	$4.7B-0.3%	$4.7B-0.6%	$4.8B+6.6%	$4.5B+5.5%	$4.2B-3.5%	$4.4B
Current Assets	$2.5B+0.4%	$2.5B+6.5%	$2.4B-1.9%	$2.4B-0.4%	$2.4B-21.9%	$3.1B+6.6%	$2.9B-5.4%	$3.1B
Cash & Equivalents	$1.3B+4.6%	$1.2B+19.0%	$1.0B-11.3%	$1.2B-8.8%	$1.3B-36.8%	$2.0B+13.9%	$1.8B-9.9%	$2.0B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.2B+0.1%	$1.2B0.0%	$1.2B+1.9%	$1.2B+0.5%	$1.2B+90.0%	$621.9M+2.3%	$608.1M+2.2%	$595.2M
Total Liabilities	$1.2B+9.7%	$1.1B+7.1%	$1.0B-3.5%	$1.1B-3.5%	$1.1B+24.0%	$902.6M+9.4%	$825.4M-8.2%	$898.9M
Current Liabilities	$976.9M+17.0%	$835.3M+11.8%	$747.4M-5.3%	$789.1M-3.9%	$821.0M+20.6%	$681.0M+13.0%	$602.5M-8.5%	$658.5M
Long-Term Debt	$25.0M0.0%	$25.0M0.0%	$25.0M-0.1%	$25.1M-0.5%	$25.2M-0.5%	$25.3M-0.7%	$25.5M-1.1%	$25.8M
Total Equity	$3.7B-1.3%	$3.7B+1.6%	$3.7B+0.7%	$3.6B+0.4%	$3.6B+2.1%	$3.6B+4.6%	$3.4B-2.2%	$3.5B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

EPAM Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$654.9M+17.1%	$559.2M-0.6%	$562.6M+21.2%	$464.1M-18.9%	$572.3M+5.1%	$544.4M
Capital Expenditures	$42.2M+31.4%	$32.1M+13.1%	$28.4M-65.2%	$81.6M-26.8%	$111.5M+62.1%	$68.8M
Free Cash Flow	$612.7M+16.3%	$527.0M-1.3%	$534.2M+39.7%	$382.5M-17.0%	$460.8M-3.1%	$475.6M
Investing Cash Flow	-$49.0M+94.5%	-$885.0M-1225.5%	-$66.8M+63.5%	-$182.9M+50.4%	-$368.9M-120.7%	-$167.2M
Financing Cash Flow	-$651.2M-66.8%	-$390.4M-135.5%	-$165.8M-8102.5%	-$2.0M+96.6%	-$59.6M-7685.2%	-$765K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$662.2M+66.4%	$398.0M+141.3%	$164.9M	$0	$0	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$282.9M-4.0%	$294.7M+453.9%	$53.2M+120.2%	$24.2M-81.5%	$130.3M-46.2%	$242.0M+324.3%	$57.0M-56.1%	$129.9M
Capital Expenditures	$14.8M+78.0%	$8.3M-15.6%	$9.8M+5.4%	$9.3M-40.7%	$15.7M+216.7%	$5.0M+5.6%	$4.7M-30.3%	$6.7M
Free Cash Flow	$268.1M-6.4%	$286.4M+560.4%	$43.4M+192.4%	$14.8M-87.0%	$114.5M-51.7%	$237.0M+352.9%	$52.3M-57.5%	$123.2M
Investing Cash Flow	-$16.2M-75.1%	-$9.3M+49.1%	-$18.2M-243.1%	-$5.3M+99.4%	-$845.9M-2535.2%	$34.7M+252.0%	-$22.8M+55.2%	-$51.0M
Financing Cash Flow	-$212.0M-147.5%	-$85.7M+58.0%	-$204.1M-36.5%	-$149.5M-11966.2%	$1.3M+102.4%	-$53.5M+76.3%	-$226.1M-101.7%	-$112.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$223.5M+172.3%	$82.1M-58.2%	$196.5M+22.8%	$160.0M+1130.5%	$13.0M-74.0%	$50.0M-76.7%	$214.5M+77.9%	$120.6M

EPAM Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	28.8%-1.9pp	30.7%+0.1pp	30.6%-1.3pp	31.9%-2.0pp	33.9%-0.9pp	34.8%
Operating Margin	9.5%-2.0pp	11.5%+0.8pp	10.7%-1.2pp	11.9%-2.6pp	14.4%+0.2pp	14.3%
Net Margin	6.9%-2.7pp	9.6%+0.7pp	8.9%+0.2pp	8.7%-4.1pp	12.8%+0.5pp	12.3%
Return on Equity	10.3%-2.3pp	12.5%+0.5pp	12.0%-1.9pp	14.0%-5.4pp	19.4%+2.9pp	16.5%
Return on Assets	7.7%-1.9pp	9.6%-0.0pp	9.6%-0.9pp	10.5%-3.2pp	13.7%+1.6pp	12.0%
Current Ratio	2.59-0.4	2.96-1.8	4.79+1.1	3.69+0.7	2.97-1.1	4.11
Debt-to-Equity	0.010.0	0.010.0	0.010.0	0.010.0	0.010.0	0.01
FCF Margin	11.2%+0.1pp	11.2%-0.2pp	11.4%+3.5pp	7.9%-4.3pp	12.3%-5.6pp	17.9%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	30.1%+0.6pp	29.5%+0.7pp	28.8%+1.9pp	26.9%-3.6pp	30.4%-4.1pp	34.6%+5.3pp	29.3%+0.9pp	28.4%
Operating Margin	10.6%+0.2pp	10.4%+1.1pp	9.3%+1.7pp	7.6%-3.3pp	10.9%-4.2pp	15.2%+4.7pp	10.5%+1.0pp	9.5%
Net Margin	7.8%+0.1pp	7.7%+1.2pp	6.5%+0.9pp	5.7%-2.6pp	8.3%-3.4pp	11.7%+3.1pp	8.6%-1.4pp	10.0%
Return on Equity	3.0%+0.1pp	2.9%+0.5pp	2.4%+0.4pp	2.0%-0.8pp	2.9%-1.0pp	3.8%+0.9pp	2.9%-0.5pp	3.4%
Return on Assets	2.2%+0.0pp	2.2%+0.3pp	1.9%+0.3pp	1.6%-0.6pp	2.2%-0.9pp	3.1%+0.7pp	2.3%-0.3pp	2.7%
Current Ratio	2.59-0.4	3.02-0.1	3.17+0.1	3.06+0.1	2.96-1.6	4.56-0.3	4.84+0.2	4.68
Debt-to-Equity	0.010.0	0.010.0	0.010.0	0.010.0	0.010.0	0.010.0	0.010.0	0.01
FCF Margin	19.1%-1.5pp	20.5%+17.3pp	3.2%+2.1pp	1.1%-8.0pp	9.2%-11.1pp	20.3%+15.7pp	4.6%-6.0pp	10.6%

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Frequently Asked Questions

What is Epam Sys Inc's annual revenue?

Epam Sys Inc (EPAM) reported $5.5B in total revenue for fiscal year 2025. This represents a 15.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Epam Sys Inc's revenue growing?

Epam Sys Inc (EPAM) revenue grew by 15.4% year-over-year, from $4.7B to $5.5B in fiscal year 2025.

Is Epam Sys Inc profitable?

Yes, Epam Sys Inc (EPAM) reported a net income of $377.7M in fiscal year 2025, with a net profit margin of 6.9%.

What is Epam Sys Inc's EBITDA?

Epam Sys Inc (EPAM) had EBITDA of $644.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Epam Sys Inc have?

As of fiscal year 2025, Epam Sys Inc (EPAM) had $1.3B in cash and equivalents against $25.0M in long-term debt.

What is Epam Sys Inc's gross margin?

Epam Sys Inc (EPAM) had a gross margin of 28.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Epam Sys Inc's operating margin?

Epam Sys Inc (EPAM) had an operating margin of 9.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Epam Sys Inc's net profit margin?

Epam Sys Inc (EPAM) had a net profit margin of 6.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Epam Sys Inc's return on equity (ROE)?

Epam Sys Inc (EPAM) has a return on equity of 10.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Epam Sys Inc's free cash flow?

Epam Sys Inc (EPAM) generated $612.7M in free cash flow during fiscal year 2025. This represents a 16.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Epam Sys Inc's operating cash flow?

Epam Sys Inc (EPAM) generated $654.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Epam Sys Inc's total assets?

Epam Sys Inc (EPAM) had $4.9B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Epam Sys Inc's capital expenditures?

Epam Sys Inc (EPAM) invested $42.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Epam Sys Inc buy back shares?

Yes, Epam Sys Inc (EPAM) spent $662.2M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Epam Sys Inc have outstanding?

Epam Sys Inc (EPAM) had 54M shares outstanding as of fiscal year 2025.

What is Epam Sys Inc's current ratio?

Epam Sys Inc (EPAM) had a current ratio of 2.59 as of fiscal year 2025, which is generally considered healthy.

What is Epam Sys Inc's debt-to-equity ratio?

Epam Sys Inc (EPAM) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Epam Sys Inc's return on assets (ROA)?

Epam Sys Inc (EPAM) had a return on assets of 7.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Epam Sys Inc's Piotroski F-Score?

Epam Sys Inc (EPAM) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Epam Sys Inc's earnings high quality?

Epam Sys Inc (EPAM) has an earnings quality ratio of 1.73x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Epam Sys Inc?

Epam Sys Inc (EPAM) scores 56 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.