Company Valuation: EPAM Systems, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 20,064 37,914 18,849 17,157 13,263 11,247 - -
Change - 88.97% -50.28% -8.98% -22.7% -15.19% - -
Enterprise Value (EV) 1 18,741 36,468 17,168 15,120 14,549 9,907 9,444 8,907
Change - 94.58% -52.92% -11.93% -3.78% -31.91% -4.67% -5.68%
P/E ratio 64x 82x 46.2x 42.1x 29.8x 29.7x 23.6x 20.7x
PBR 10.1x 15.3x 6.3x 4.95x 3.66x 2.98x 2.56x 2.2x
PEG - 1.8x -3.6x -99.5x 2.7x -2.4x 0.9x 1.5x
Capitalization / Revenue 7.54x 10.1x 3.91x 3.66x 2.81x 2.07x 1.93x 1.78x
EV / Revenue 7.05x 9.7x 3.56x 3.22x 3.08x 1.82x 1.62x 1.41x
EV / EBITDA 35.8x 47.9x 19.3x 18.1x 17.3x 11.3x 9.75x 8.15x
EV / EBIT 39.6x 53.8x 21x 19.8x 18.7x 12x 10.5x 8.89x
EV / FCF 39.4x 79.1x 44.9x 28.3x 27.6x 18.7x 15.6x 13.4x
FCF Yield 2.54% 1.26% 2.23% 3.53% 3.62% 5.34% 6.42% 7.48%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 5.6 8.15 7.09 7.06 7.84 6.854 8.627 9.828
Distribution rate - - - - - - - -
Net sales 1 2,659 3,758 4,825 4,691 4,728 5,441 5,823 6,325
EBITDA 1 523.2 761.6 888.3 834.2 839.3 879.5 968.2 1,092
EBIT 1 472.7 678.2 818.2 765.1 779.2 825.8 902.5 1,001
Net income 1 327.2 481.7 419.4 417.1 454.5 384.7 478.3 537.2
Net Debt 1 -1,322 -1,447 -1,681 -2,036 1,286 -1,341 -1,804 -2,341
Reference price 2 358.35 668.45 327.74 297.34 233.82 203.60 203.60 203.60
Nbr of stocks (in thousands) 55,989 56,720 57,513 57,700 56,721 55,243 - -
Announcement Date 2/18/21 2/17/22 2/16/23 2/15/24 2/20/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
29.7x1.82x11.26x-.--% 11.25B
33.91x4.93x17.51x2.18% 288B
19.79x2.12x11.07x2.45% 165B
22.69x4.27x15.83x3.55% 130B
23.96x4.84x16.56x2.46% 106B
-57.7x16.27x118.05x-.--% 78.29B
23.1x3.59x15.04x3.15% 74.45B
26.83x6.44x16.12x2.19% 73.54B
26.14x3.34x16x3.51% 50.59B
31.18x2.11x14.73x0.59% 49.09B
Average 17.96x 4.97x 25.22x 2.01% 102.64B
Weighted average by Cap. 20.35x 5.01x 23.27x 2.3%
See all sector valuations

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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