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MARKETS / NYSE / EPAM
NYSE · SERVICES-COMPUTER PROGRAMMING SERVICES · LARGE CAP

Epam Systems, Inc. EPAM

16 fiscal years on record · USD · FY2025 reported · SEC filings only
$5.5B
▲ 15.4% YoY
$377.7M
▼ 16.9% YoY
$612.7M
▲ 16.3% YoY
In brief

What this company does

EPAM Systems, Inc. combines software engineering with customer experience design, business consulting, strategy, and technology innovation services in areas such as cloud platforms, cybersecurity and artificial intelligence. As of December 31, 2025, it had approximately 62,850 employees, of which approximately 56,600 were delivery professionals. Its clients operate in five main industry verticals, as well as a number of emerging verticals. Within its Financial Services vertical, it works with global investment banks, wealth and investment management institutions, commercial and retail lending institutions, credit card and payment solution companies, trading platforms, exchanges and brokerages, capital markets, insurers, and other providers of financial services and financial technology. Within its Business Information and Media vertical, it helps clients build products and solutions for modern platforms including web media streaming, mobile information delivery, print to digital transformations, and information discovery and search. EPAM Systems, Inc. was incorporated in the State of Delaware on December 18, 2002, and its predecessor entity was founded in 1993.

Written from the business description in EPAM Systems, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth
USD 5.5B
Revenue, FY2025 · full 16-year series below
Revenue $B Net income $B
FY2025 · Revenue 5.5 · Net income 0.4
2B4B201020122014201620182020202220242025
Compound annual growth
+4.2%
+15.5%
+19.6%
+23.8%
−3.4%
+2.9%
+16.2%
+18.9%
−1.8%
+3.7%
+15.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +15.5% a year over five years — but profit grew slower: net income at +2.9%, earnings per share at +3.7%.

The share count fell from 0.06B to 0.05B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
7 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 9.5% · Net 6.9%
5%10%15%201020122014201620182020202220242025
ROE
FY2025 · ROE 10.3%
20%40%60%201020122014201620182020202220242025
Gross margin28.8%
Operating margin9.5%
Net margin6.9%
Return on assets7.8%
EBITDAUSD 573.1M

Each USD of equity produced 10 cents of profit this year.

Cash & shareholders
USD 607.6M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 612.7
250.0M500.0M201020122014201620182020202220242025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 607.6
250.0M500.0M20212022202320242025
Dividends paid—
Net buybacksUSD 607.6M
Share of profit160.9%
Consecutive raises—

USD 607.6M in buybacks — 161% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 4.9B
EquityUSD 3.7B
CashUSD 1.3B
Gross debtUSD 25.0M
Net debtUSD -1.3B
Current ratio2.59×

The company holds more cash than debt.

The 16-year record
16 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013201220112010
Revenue $B5.54.74.74.83.82.72.31.81.51.20.90.70.60.40.30.2
Operating income $B0.50.50.50.60.50.40.30.20.20.10.10.10.10.10.10.0
EBITDA $B0.60.60.60.60.60.40.30.30.20.20.10.10.10.10.10.0
Income tax $B0.10.10.10.10.10.10.00.00.10.00.00.00.00.00.00.0
Net income $B0.40.50.40.40.50.30.30.20.10.10.10.10.10.10.00.0
Free cash flow $B0.60.50.50.40.50.50.20.30.20.10.10.10.00.00.00.0
EPS, diluted $6.727.847.067.098.155.604.534.241.321.871.621.401.281.17··
Dividend / sh $················
Payout %················
ROE %10.312.812.915.321.518.318.321.58.314.215.716.618.728.655.068.4
Shares out B0.050.060.060.060.060.060.060.050.050.050.050.050.050.040.02·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Epam Systems, Inc.vsCognizant Technology Solutions Corp.Same industry: Services-Computer Programming ServicesEpam Systems, Inc.vsInfosys Ltd.Same industry: Services-Computer Programming ServicesEpam Systems, Inc.vsAmdocs Ltd.Same industry: Services-Computer Programming ServicesEpam Systems, Inc.vsZscaler, Inc.Same industry: Services-Computer Programming ServicesEpam Systems, Inc.vsVerisign Inc.Same industry: Services-Computer Programming ServicesEpam Systems, Inc.vsDoximity, Inc.Same industry: Services-Computer Programming ServicesEpam Systems, Inc.vsPerion Network Ltd.Same industry: Services-Computer Programming Services
Provenance
Company facts, as filed
How we verify · 0 failures in 61 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 18 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Computer Programming Services
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2009

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