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EPAM Systems, Inc. provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; cloud services for creating a roadmap to set and refine IT and business goals while identifying new and emerging opportunities leveraging cloud technologies; data, analytics and artificial intelligence; customer experience; marketing; and cybersecurity. It also offers operation solutions comprising integrated engineering practices and smart automation services. In addition, the company offers software product and platform development services, which comprise product research, customer experience design and prototyping, program management, component design and integration, full lifecycle software testing, product deployment and end-user customization, performance tuning, product support and maintenance, managed services, as well as cross-platform migration and modernizing legacy platforms. The company serves the financial services; consumer goods, retail and travel; software and Hi-tech; business information and media, life sciences and healthcare; and emerging verticals industries EPAM Systems, Inc. was founded in 1993 and is headquartered in Newtown, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $5.5B | $686M | $378M | $613M | 10.3% | 15.4% | -16.9% |
| 2024 | $4.7B | $672M | $455M | $527M | 12.5% | 0.8% | 9.0% |
| 2023 | $4.7B | $660M | $417M | $534M | 12.0% | -2.8% | -0.6% |
| 2022 | $4.8B | $713M | $419M | $382M | 14.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 4,824.70 | 4,690.54 | 4,727.94 | 5,457.06 |
| Cost Of Revenue | - | 3,286.68 | 3,256.51 | 3,277.50 | 3,883.54 |
| Gross Profit | - | 1,538.02 | 1,434.03 | 1,450.44 | 1,573.52 |
| Operating Expense | - | 965.05 | 906.86 | 905.86 | 1,053.52 |
| Operating Income | - | 572.97 | 527.16 | 544.58 | 520 |
| EBITDA | - | 713.02 | 659.86 | 671.69 | 686.08 |
| EBIT | - | 572.97 | 527.16 | 544.58 | 520 |
| Pretax Income | - | 507.26 | 536.58 | 584.41 | 505.62 |
| Tax Provision | - | 87.84 | 119.50 | 129.88 | 127.95 |
| Net Income | - | 419.42 | 417.08 | 454.53 | 377.68 |
| Net Income Common Stockholders | - | 419.42 | 417.08 | 454.53 | 377.68 |
| Total Expenses | - | 4,251.73 | 4,163.38 | 4,183.36 | 4,937.05 |
| Interest Expense | 1.73 | - | - | - | - |
| Interest Income | - | 10.02 | 51.12 | 46.88 | 11.55 |
| Selling General And Administration | - | 872.78 | 815.06 | 816.30 | 928.71 |
| Normalized EBITDA | - | 788.75 | 701.56 | 678.74 | 712.01 |
| Normalized Income | - | 482.05 | 449.48 | 460.02 | 397.04 |
| Market Cap | 6,277.01 | 6,277.01 | 6,277.01 | 6,277.01 | 6,277.01 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| EPAM Systems, Inc.this co. | EPAM | $6.6B | 16.62↓ discount | 1.71 | 10.3% | 7.47 |
| Qorvo, Inc. | QRVO | $8.3B | 146.36 | 2.40 | 1.6% | 19.65 |
| ESCO Technologies Inc. | ESE | $8.3B | 27.70 | 5.38 | 19.4% | 34.30 |
| Paycom Software, Inc. | PAYC | $6.9B | 14.81 | 3.88 | 26.2% | 8.05 |
| Plexus Corp. | PLXS | $6.9B | 39.37 |
| - |
| - |
| - |
| - |
| - |
| 4.68 |
| 11.9% |
| 24.03 |
| Lyft, Inc. | LYFT | $5.9B | 1.91 | 1.66 | 86.9% | 54.37 |
| OSI Systems, Inc. | OSIS | $4.9B | 32.21 | 5.07 | 15.7% | 20.54 |
| Diodes Incorporated | DIOD | $4.8B | 72.62 | 2.56 | 3.5% | 19.66 |
| Enphase Energy, Inc. | ENPH | $4.7B | 27.39 | 4.34 | 15.8% | 18.80 |
| Peer Median | - | 29.95 | 4.11 | 15.8% | 20.10 | |