Income Statement EPAM Systems, Inc.

Stocks

EPAM

US29414B1044

IT Services & Consulting

Market Closed - NYSE Other stock markets 04:00:03 2026-06-12 pm EDT			5-day change	1st Jan Change
95.38 ^USD	+2.82%		-2.71%	-53.45%

Jun. 08	EPAM Systems, Inc and TGS Deploy TGS Imaging AnyWare on Amazon Web Services	CI
Jun. 02	EPAM Systems, Inc.(NYSE:EPAM) added to S&P 1000	CI

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Published financial data: EPAM SYSTEMS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	3.76B	4.82B	4.69B	4.73B	5.46B
Total Revenues	3.76B	4.82B	4.69B	4.73B	5.46B
Cost of Goods Sold, Total	2.48B	3.26B	3.24B	3.28B	3.88B
Gross Profit	1.27B	1.56B	1.45B	1.45B	1.58B
Selling General & Admin Expenses, Total	645M	776M	778M	759M	868M
Depreciation & Amortization - (IS)	83.4M	92.27M	91.8M	89.56M	125M
Other Operating Expenses	-	-	-	-	-
Other Operating Expenses, Total	729M	869M	870M	848M	993M
Operating Income	546M	692M	585M	604M	583M
Interest And Investment Income	7.06M	13.03M	53.94M	52.58M	15.01M
Net Interest Expenses	7.06M	13.03M	53.94M	52.58M	15.01M
Currency Exchange Gains (Loss)	-7.2M	-75.73M	-15.78M	-7.05M	-25.92M
Other Non Operating Income (Expenses)	-	10.2M	-	-	-
EBT, Excl. Unusual Items	546M	639M	623M	650M	572M
Restructuring Charges	-	-	-28.99M	-31.27M	-47.89M
Merger & Related Restructuring Charges	-3.6M	-	-	-14.1M	-
Gain (Loss) On Sale Of Investments	-	-800K	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-25.92M	-	-
Asset Writedown	-	-	-	-417K	-175K
Other Unusual Items	-8.78M	-131M	-31.41M	-19.7M	-18.07M
EBT, Incl. Unusual Items	533M	507M	537M	584M	506M
Income Tax Expense	51.74M	87.84M	120M	130M	128M
Earnings From Continuing Operations	482M	419M	417M	455M	378M
Net Income to Company	482M	419M	417M	455M	378M
Net Income - (IS)	482M	419M	417M	455M	378M
Net Income to Common Incl Extra Items	482M	419M	417M	455M	378M
Net Income to Common Excl. Extra Items	482M	419M	417M	455M	378M
Per Share Items
Net EPS - Basic	8.52	7.32	7.21	7.93	6.76
Basic EPS - Continuing Operations	8.52	7.32	7.21	7.93	6.76
Basic Weighted Average Shares Outstanding	56.51M	57.29M	57.83M	57.29M	55.89M
Net EPS - Diluted	8.15	7.09	7.06	7.84	6.72
Diluted EPS - Continuing Operations	8.15	7.09	7.06	7.84	6.72
Diluted Weighted Average Shares Outstanding	59.06M	59.17M	59.08M	57.98M	56.23M
Normalized Basic EPS	6.04	6.97	6.73	7.09	6.39
Normalized Diluted EPS	5.78	6.75	6.59	7.01	6.35
Supplemental Items
EBITDA	628M	783M	675M	693M	707M
EBITA	562M	713M	606M	633M	654M
EBIT	546M	692M	585M	604M	583M
EBITDAR	706M	850M	742M	751M	772M
Effective Tax Rate - (Ratio)	9.7	17.32	22.27	22.22	25.3
Current Domestic Taxes	29.48M	30.16M	70.68M	96.57M	84.27M
Current Foreign Taxes	69.16M	99.85M	86.01M	97.5M	103M
Total Current Taxes	98.64M	130M	157M	194M	187M
Deferred Domestic Taxes	-43M	-29.86M	-25.72M	-57.95M	-37.63M
Deferred Foreign Taxes	-3.9M	-12.3M	-11.47M	-6.25M	-21.67M
Total Deferred Taxes	-46.9M	-42.16M	-37.2M	-64.2M	-59.3M
Normalized Net Income	341M	399M	389M	406M	357M
Non-Cash Pension Expense	5.5M	8.3M	9.4M	9M	12.6M
Supplemental Operating Expense Items
Net Rental Expense, Total	77.95M	67.44M	66.58M	58.22M	64.88M
Stock-Based Comp., COGS (Total)	51.58M	47.47M	68.8M	80.94M	86.25M
Stock-Based Comp., SG&A Exp. (Total)	60.08M	52.44M	78.93M	86.35M	90.51M
Total Stock-Based Compensation	112M	99.91M	148M	167M	177M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	1.45B	1.68B	2.04B	1.29B	1.3B
Short Term Investments	-	60.34M	60.74M	1.69M	-
Total Cash And Short Term Investments	1.45B	1.74B	2.1B	1.29B	1.3B
Accounts Receivable, Total	769M	933M	897M	1B	1.11B
Other Receivables	-	-	-	23.1M	21.6M
Notes Receivable	-	-	-	-	-
Total Receivables	769M	933M	897M	1.03B	1.13B
Prepaid Expenses	52M	72.7M	81.64M	112M	105M
Restricted Cash	495K	430K	5.29M	837K	1.34M
Other Current Assets, Total	1.43M	12.19M	10.42M	-	1.98M
Total Current Assets	2.27B	2.76B	3.09B	2.43B	2.53B
Gross Property Plant And Equipment	588M	589M	567M	556M	562M
Accumulated Depreciation	-167M	-167M	-198M	-221M	-245M
Net Property Plant And Equipment	421M	422M	370M	336M	317M
Long-term Investments	27.5M	28.4M	31.7M	38.5M	36.7M
Goodwill	531M	529M	562M	1.18B	1.21B
Other Intangibles, Total	101M	77.65M	71.12M	436M	407M
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	144M	173M	198M	270M	295M
Other Long-Term Assets, Total	29.4M	19.48M	27.88M	62.02M	102M
Total Assets	3.52B	4.01B	4.35B	4.75B	4.9B
Liabilities
Accounts Payable, Total	24.85M	30.85M	31.99M	44.7M	55.33M
Accrued Expenses, Total	553M	523M	453M	529M	662M
Short-term Borrowings	16.02M	2.86M	-	-	-
Current Portion of Leases	50.1M	40.35M	36.56M	39.63M	37.17M
Current Income Taxes Payable	27.44M	46.07M	38.81M	50.4M	25.52M
Unearned Revenue Current, Total	39.81M	36.04M	27.99M	59.32M	104M
Other Current Liabilities	52.28M	68.01M	56.98M	98.3M	92.42M
Total Current Liabilities	763M	747M	645M	821M	977M
Long-Term Debt	30.23M	27.69M	26.13M	25.19M	25.03M
Long-Term Leases	143M	122M	109M	98.43M	81.5M
Unearned Revenue Non Current	84K	42K	951K	741K	674K
Pension & Other Post Retirement Benefits	3.5M	9.79M	14.91M	27.47M	38.08M
Deferred Tax Liability Non Current	18.3M	12.8M	8.7M	92.36M	76.97M
Other Non Current Liabilities	69.05M	86.01M	76.01M	54.09M	25.13M
Total Liabilities	1.03B	1.01B	881M	1.12B	1.22B
Common Stock, Total	57K	58K	58K	57K	54K
Additional Paid In Capital	712M	848M	1.01B	1.19B	1.39B
Retained Earnings	1.83B	2.25B	2.5B	2.56B	2.27B
Treasury Stock	-177K	-118K	-	-	-
Comprehensive Income and Other	-54.21M	-95.32M	-39.04M	-117M	18.54M
Total Common Equity	2.49B	3B	3.47B	3.63B	3.68B
Minority Interest	8.72M	1.48M	579K	1.94M	582K
Total Equity	2.5B	3B	3.47B	3.63B	3.68B
Total Liabilities And Equity	3.52B	4.01B	4.35B	4.75B	4.9B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	56.88M	57.68M	57.83M	56.89M	54.14M
ECS Total Common Shares Outstanding	56.85M	57.66M	57.79M	56.87M	54.27M
Book Value / Share	43.75	52.06	60.06	63.82	67.75
Tangible Book Value	1.86B	2.39B	2.84B	2.01B	2.06B
Tangible Book Value Per Share	32.63	41.54	49.1	35.37	37.96
Total Debt	239M	193M	172M	163M	144M
Net Debt	-1.21B	-1.55B	-1.93B	-1.12B	-1.15B
Debt Equivalent Oper. Leases	624M	539M	533M	466M	519M
Minority Interest, Total (Incl. Fin. Div)	8.72M	1.48M	579K	1.94M	582K
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	1.34M	1.34M	1.34M	1.34M	1.34M
Buildings, Total	55.39M	54.63M	54.9M	55.06M	57.19M
Machinery, Total	222M	198M	197M	187M	197M
Full Time Employees	58.82K	59.3K	53.15K	61.2K	62.85K
Accumulated Allowance for Doubtful Accounts (Supple)	5.52M	15.31M	11.86M	5.61M	6.35M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	482M	419M	417M	455M	378M
Depreciation & Amortization - CF	128M	118M	110M	97.63M	94.71M
Amortization of Goodwill and Intangible Assets - (CF)	16.53M	21.14M	21.62M	28.47M	71.12M
Depreciation & Amortization, Total	144M	139M	132M	126M	166M
Amortization of Deferred Charges, Total - (CF)	1.11M	1.09M	1.1M	1M	252K
(Gain) Loss From Sale Of Asset	-	-	25.92M	-	-
Asset Writedown & Restructuring Costs	-	23.62M	6.02M	417K	175K
Stock-Based Compensation (CF)	112M	99.91M	148M	167M	177M
Tax Benefit from Stock Options	-	-	-	-	-
Provision and Write-off of Bad Debts	2.49M	12.39M	4.05M	-4.4M	1.81M
Other Operating Activities, Total	-33.76M	-1.45M	-45.7M	-58.47M	-48.44M
Change In Accounts Receivable	-212M	-193M	32.36M	15.59M	-69.13M
Change In Accounts Payable	-2.4M	-2.93M	154K	-29.08M	-12.68M
Change In Income Taxes	3.57M	3.6M	-33.39M	-8.17M	-20.36M
Change in Other Net Operating Assets	75.66M	-37.78M	-124M	-106M	83.04M
Cash from Operations	572M	464M	563M	559M	655M
Capital Expenditure	-112M	-81.63M	-28.42M	-32.15M	-42.24M
Cash Acquisitions	-315M	-10.64M	-24.82M	-912M	-3.43M
Divestitures	-	-	-2.17M	-	-
Investment in Marketable and Equity Securities, Total	57.46M	-61.62M	-3.6M	57.01M	-31K
Other Investing Activities, Total	79K	-29.03M	-7.77M	2.31M	-3.34M
Cash from Investing	-369M	-183M	-66.77M	-885M	-49.05M
Long-Term Debt Issued, Total	31.11M	1.76M	825K	8K	5.71M
Total Debt Issued	31.11M	1.76M	825K	8K	5.71M
Long-Term Debt Repaid, Total	-31.05M	-15.54M	-2.97M	-1.86M	-8.26M
Total Debt Repaid	-31.05M	-15.54M	-2.97M	-1.86M	-8.26M
Issuance of Common Stock	26.29M	50.66M	51.64M	53.73M	54.58M
Repurchase of Common Stock	-41.6M	-26.56M	-194M	-433M	-689M
Other Financing Activities, Total	-44.3M	-12.35M	-21.24M	-9.06M	-14.27M
Cash from Financing	-59.56M	-2.02M	-166M	-390M	-651M
Foreign Exchange Rate Adjustments	-18.03M	-44.87M	29.38M	-36.5M	56.3M
Net Change in Cash	126M	234M	359M	-753M	10.98M
Supplemental Items
Cash Interest Paid	413K	1.66M	4.7M	3.74M	1.4M
Cash Income Tax Paid (Refund)	87.32M	113M	177M	196M	184M
Levered Free Cash Flow	486M	402M	545M	669M	725M
Unlevered Free Cash Flow	486M	402M	545M	669M	725M
Change In Net Working Capital	116K	188M	72.34M	-29.13M	-60.53M
Net Debt Issued / Repaid	55K	-13.78M	-2.14M	-1.86M	-2.55M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	10.93	11.48	8.74	8.3	7.55
Return on Total Capital	13.69	14.57	10.69	10.16	9.56
Return On Equity %	21.51	15.25	12.88	12.8	10.33
Return on Common Equity	21.55	15.28	12.89	12.8	10.34
Margin Analysis
Gross Profit Margin %	33.91	32.34	31.01	30.73	28.88
SG&A Margin	17.17	16.09	16.59	16.05	15.91
EBITDA Margin %	16.72	16.22	14.4	14.66	12.96
EBITA Margin %	14.97	14.77	12.93	13.39	11.98
EBIT Margin %	14.53	14.33	12.47	12.78	10.68
Income From Continuing Operations Margin %	12.82	8.69	8.89	9.61	6.92
Net Income Margin %	12.82	8.69	8.89	9.61	6.92
Net Avail. For Common Margin %	12.82	8.69	8.89	9.61	6.92
Normalized Net Income Margin	9.08	8.28	8.3	8.59	6.55
Levered Free Cash Flow Margin	12.94	8.34	11.62	14.15	13.29
Unlevered Free Cash Flow Margin	12.94	8.34	11.62	14.15	13.29
Asset Turnover
Asset Turnover	1.2	1.28	1.12	1.04	1.13
Fixed Assets Turnover	9.17	11.44	11.84	13.4	16.71
Receivables Turnover (Average Receivables)	5.92	5.67	5.13	4.98	5.17
Short Term Liquidity
Current Ratio	2.97	3.69	4.79	2.96	2.59
Quick Ratio	2.9	3.58	4.64	2.82	2.48
Operating Cash Flow to Current Liabilities	0.75	0.62	0.87	0.68	0.67
Days Sales Outstanding (Average Receivables)	61.67	64.36	71.19	73.51	70.58
Average Days Payable Outstanding	2.57	3.11	3.54	4.29	4.7
Long Term Solvency
Total Debt/Equity	9.58	6.43	4.95	4.5	3.91
Total Debt / Total Capital	8.74	6.05	4.72	4.3	3.76
LT Debt/Equity	6.93	5	3.9	3.4	2.9
Long-Term Debt / Total Capital	6.33	4.69	3.72	3.26	2.79
Total Liabilities / Total Assets	29.16	25.1	20.24	23.56	24.98
Total Debt / EBITDA	0.34	0.23	0.23	0.22	0.19
Net Debt / EBITDA	-1.71	-1.82	-2.59	-1.5	-1.49
Total Debt / (EBITDA - Capex)	0.4	0.25	0.24	0.23	0.2
Net Debt / (EBITDA - Capex)	-2.03	-2.01	-2.7	-1.56	-1.58
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	41.31	28.38	-2.78	0.8	15.42
Gross Profit, 1 Yr. Growth %	37.49	22.43	-8.03	-0.13	8.46
EBITDA, 1 Yr. Growth %	42.41	24.6	-16	1.68	2.06
EBITA, 1 Yr. Growth %	44	26.71	-17.4	3.34	3.31
EBIT, 1 Yr. Growth %	43.92	26.68	-17.98	2.3	-3.59
Earnings From Cont. Operations, 1 Yr. Growth %	47.22	-12.92	-0.56	8.98	-16.91
Net Income, 1 Yr. Growth %	47.22	-12.92	-0.56	8.98	-16.91
Normalized Net Income, 1 Yr. Growth %	43.51	17.09	-5.57	3.33	-12.02
Diluted EPS Before Extra, 1 Yr. Growth %	45.54	-13.01	-0.42	11.05	-14.29
Accounts Receivable, 1 Yr. Growth %	53.46	21.29	-3.82	11.72	10.58
Net Property, Plant and Equip., 1 Yr. Growth %	5.74	0.25	-12.36	-9.2	-5.55
Total Assets, 1 Yr. Growth %	29.47	13.79	8.56	9.15	3.19
Tangible Book Value, 1 Yr. Growth %	7.92	29.08	18.48	-29.12	2.43
Common Equity, 1 Yr. Growth %	25.42	20.68	15.64	4.56	1.32
Cash From Operations, 1 Yr. Growth %	5.13	-18.91	21.23	-0.62	17.13
Capital Expenditures, 1 Yr. Growth %	62.08	-26.79	-65.19	13.13	31.41
Levered Free Cash Flow, 1 Yr. Growth %	6.76	-17.26	31.11	21.9	8.67
Unlevered Free Cash Flow, 1 Yr. Growth %	6.76	-17.26	31.11	21.9	8.67
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	28	34.69	11.72	-1.01	7.86
Gross Profit, 2 Yr. CAGR %	25.78	29.74	6.84	-4.16	4.08
EBITDA, 2 Yr. CAGR %	34.42	33.21	3.69	-6.88	4.11
EBITA, 2 Yr. CAGR %	34.21	35.08	3.83	-6.83	5.86
EBIT, 2 Yr. CAGR %	34.26	35.02	3.5	-7.6	1.84
Earnings From Cont. Operations, 2 Yr. CAGR %	35.83	13.22	-6.94	4.1	-4.84
Net Income, 2 Yr. CAGR %	35.83	13.22	-6.94	4.1	-4.84
Normalized Net Income, 2 Yr. CAGR %	34.59	29.63	6.83	-0.36	-2.38
Diluted EPS Before Extra, 2 Yr. CAGR %	34.13	12.52	-6.93	5.16	-2.44
Accounts Receivable, 2 Yr. CAGR %	24.29	36.43	8.01	3.66	11.15
Net Property, Plant and Equip., 2 Yr. CAGR %	2.06	2.96	-6.26	-10.79	-7.39
Total Assets, 2 Yr. CAGR %	25.3	21.38	11.15	8.85	6.13
Tangible Book Value, 2 Yr. CAGR %	17.45	18.03	23.67	-8.36	-14.79
Common Equity, 2 Yr. CAGR %	24.83	23.03	18.13	9.96	2.93
Cash From Operations, 2 Yr. CAGR %	41.1	-7.67	-0.85	9.76	7.89
Capital Expenditures, 2 Yr. CAGR %	5.96	8.93	-49.52	-37.25	21.93
Levered Free Cash Flow, 2 Yr. CAGR %	48.48	-6.01	5.87	27.34	16.9
Unlevered Free Cash Flow, 2 Yr. CAGR %	48.48	-6.01	5.87	27.34	16.9
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	26.81	28.13	20.82	7.95	4.19
Gross Profit, 3 Yr. CAGR %	24.78	24.65	16.21	4.46	-0.12
EBITDA, 3 Yr. CAGR %	30.48	31.06	15.26	3.32	-3.99
EBITA, 3 Yr. CAGR %	30.29	31.66	15.79	4.01	-3.56
EBIT, 3 Yr. CAGR %	30.48	31.68	15.52	3.45	-6.28
Earnings From Cont. Operations, 3 Yr. CAGR %	26.09	17.12	8.43	-1.91	-3.43
Net Income, 3 Yr. CAGR %	26.09	17.12	8.43	-1.91	-3.43
Normalized Net Income, 3 Yr. CAGR %	29.92	28.48	17.88	5.99	-4.41
Diluted EPS Before Extra, 3 Yr. CAGR %	24.34	16.1	8.03	-1.28	-1.77
Accounts Receivable, 3 Yr. CAGR %	24.1	23.28	21.42	9.23	5.92
Net Property, Plant and Equip., 3 Yr. CAGR %	60.08	1.45	-2.42	-7.25	-9.08
Total Assets, 3 Yr. CAGR %	29.78	21.34	16.94	10.48	6.93
Tangible Book Value, 3 Yr. CAGR %	21.33	21.21	18.18	2.73	-4.89
Common Equity, 3 Yr. CAGR %	25.36	23.43	20.51	13.42	7
Cash From Operations, 3 Yr. CAGR %	25.12	17.31	1.1	-0.77	12.17
Capital Expenditures, 3 Yr. CAGR %	43.7	-6.33	-25.53	-33.94	-19.71
Levered Free Cash Flow, 3 Yr. CAGR %	26.01	22.18	6.17	11.22	20.69
Unlevered Free Cash Flow, 3 Yr. CAGR %	26.01	22.18	6.17	11.22	20.69
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	26.5	27.17	20.54	15.56	15.46
Gross Profit, 5 Yr. CAGR %	24.68	24.15	17.27	12.52	11.2
EBITDA, 5 Yr. CAGR %	31.74	31.18	19.02	14.79	9.9
EBITA, 5 Yr. CAGR %	31.49	31.61	18.98	15.17	10.85
EBIT, 5 Yr. CAGR %	32.25	31.94	18.93	14.82	8.96
Earnings From Cont. Operations, 5 Yr. CAGR %	37.15	41.95	11.66	11.73	2.91
Net Income, 5 Yr. CAGR %	37.15	41.95	11.66	11.73	2.91
Normalized Net Income, 5 Yr. CAGR %	33.71	29.67	20.14	16.62	8.5
Diluted EPS Before Extra, 5 Yr. CAGR %	34.23	39.96	10.74	11.59	3.71
Accounts Receivable, 5 Yr. CAGR %	23.9	21.51	17.39	15.02	17.2
Net Property, Plant and Equip., 5 Yr. CAGR %	41.73	37.33	29.23	-3.64	-4.44
Total Assets, 5 Yr. CAGR %	30.64	26.24	21.98	16.18	12.49
Tangible Book Value, 5 Yr. CAGR %	24.47	24.18	22.26	8.38	3.69
Common Equity, 5 Yr. CAGR %	26.06	25.22	22.42	17.86	13.15
Cash From Operations, 5 Yr. CAGR %	27.9	19.2	14	14.23	3.77
Capital Expenditures, 5 Yr. CAGR %	30.63	22.32	-5.43	-20.2	-9.29
Levered Free Cash Flow, 5 Yr. CAGR %	30.05	25.15	17.53	24.84	9.75
Unlevered Free Cash Flow, 5 Yr. CAGR %	30.05	25.15	17.53	24.84	9.75