EPAM
EPAM SystemsStock · Technology$114.00-2.65%
as of market close, Sep 18, 2026
☾ AH — —
EPAM financial statements
The full income statement, balance sheet, and cash-flow statement for EPAM Systems (EPAM), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 56.9M2024-09 56.7M2024-12 56.9M2025-03 56.7M2025-06 55.7M2025-09 55.2M2025-12 54.1M2026-03 52.2M2026-06 51.6M-9.4% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 5.46B+15.4% | 4.73B+0.8% | 4.69B-2.8% | 4.82B+28.4% | 3.76B+41.3% | |
| Cost of revenue | 3.88B+18.5% | 3.28B+0.6% | 3.26B-0.9% | 3.29B+32.3% | 2.48B+43.4% | |
| Selling, general & administrative | 929M+13.8% | 816M+0.2% | 815M-6.6% | 873M+34.5% | 649M+33.8% | |
| Restructuring | 47.9M+53.2% | 31.3M+7.9% | 29.0M | — | — | |
| Amortization of intangibles | 71.4M+142.1% | 29.5M+29.7% | 22.7M+2.2% | 22.2M+25.9% | 17.6M+43.0% | |
| Provision for credit losses | 1.81M+141.2% | -4.40M-208.8% | 4.05M-67.3% | 12.4M+398.2% | 2.49M+10.4% | |
| Operating income | 520M-4.5% | 545M+8.6% | 501M-12.5% | 573M+5.7% | 542M+43.0% | |
| Pre-tax income | 506M-13.5% | 584M+8.9% | 537M+5.8% | 507M-4.9% | 533M+40.9% | |
| Income tax | 128M-1.5% | 130M+8.7% | 120M+36.0% | 87.8M+69.8% | 51.7M+0.8% | |
| 378M-16.9% | 455M+9.0% | 417M-0.6% | 419M-12.9% | 482M+47.2% | ||
| Net income to common | 378M-16.9% | 455M+9.0% | 417M-0.6% | 419M-12.9% | 482M+47.2% | |
| $6.72-14.3% | $7.84+11.0% | $7.06-0.4% | $7.09-13.0% | $8.15+45.5% | ||
| EPS (basic) | $6.76-14.8% | $7.93+10.0% | $7.21-1.5% | $7.32-14.1% | $8.52+45.1% | |
| Weighted-avg shares (basic) | 55.9M-2.4% | 57.3M-0.9% | 57.8M+0.9% | 57.3M+1.4% | 56.5M+1.4% | |
| Weighted-avg shares (diluted) | 56.2M-3.0% | 58.0M-1.9% | 59.1M-0.1% | 59.2M+0.2% | 59.1M+1.1% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.53B+4.4% | 2.43B-21.5% | 3.09B+12.0% | 2.76B+21.6% | 2.27B+18.6% | ||
| Cash & equivalents | 1.30B+0.8% | 1.29B-36.8% | 2.04B+21.1% | 1.68B+16.2% | 1.45B+9.4% | |
| Short-term investments | — | 1.69M-97.2% | 60.7M+0.7% | 60.3M | 0.00 | |
| Prepaid expenses | 130M-5.9% | 138M+41.5% | 97.4M+14.1% | 85.3M+58.2% | 53.9M+82.4% | |
| 4.90B+3.2% | 4.75B+9.1% | 4.35B+8.6% | 4.01B+13.8% | 3.52B+29.5% | ||
| Property, plant & equipment | 202M-2.5% | 208M-11.7% | 235M-14.0% | 273M+15.7% | 236M+39.3% | |
| Operating lease right-of-use | 115M-10.4% | 128M-4.9% | 135M-9.3% | 149M-19.5% | 185M-19.2% | |
| Goodwill | 1.21B+2.5% | 1.18B+110.1% | 562M+6.3% | 529M-0.3% | 531M+150.4% | |
| Intangible assets | 407M-6.8% | 436M+513.7% | 71.1M-8.4% | 77.7M-23.2% | 101M+94.6% | |
| Deferred tax assets | 295M+9.4% | 270M+36.3% | 198M+14.5% | 173M+20.1% | 144M+55.7% | |
| Other non-current assets | 139M+38.0% | 101M+68.7% | 59.6M+24.4% | 47.9M-15.9% | 56.9M+5.4% | |
| 977M+19.0% | 821M+27.3% | 645M-13.7% | 747M-2.1% | 763M+63.8% | ||
| Accounts payable | 55.3M+23.8% | 44.7M+39.7% | 32.0M+3.7% | 30.9M+24.2% | 24.8M+143.9% | |
| Deferred revenue | 104M+75.7% | 59.3M | — | — | — | |
| Short-term & current debt | — | — | — | 2.86M-82.1% | 16.0M | |
| Current lease liability | 37.2M-6.2% | 39.6M+8.4% | 36.6M-9.4% | 40.4M-19.5% | 50.1M-17.5% | |
| 1.22B+9.4% | 1.12B+27.1% | 881M-12.4% | 1.01B-2.1% | 1.03B+39.2% | ||
| Long-term debt | 25.0M-0.6% | 25.2M-3.6% | 26.1M-5.7% | 27.7M-8.4% | 30.2M+20.8% | |
| Deferred revenue (non-current) | 674K-9.0% | 741K | — | — | — | |
| Non-current lease liability | 81.5M-17.2% | 98.4M-9.9% | 109M-10.7% | 122M-14.3% | 143M-20.9% | |
| Operating lease liability (total) | 119M-14.0% | 138M-5.3% | 146M-10.4% | 163M-15.7% | 193M-20.1% | |
| Deferred tax liabilities | 77.0M-16.7% | 92.4M+956.3% | 8.74M | — | — | |
| Other non-current liabilities | 63.9M-22.4% | 82.3M-10.4% | 91.8M-15.5% | 109M+19.5% | 90.9M+290.7% | |
| 3.68B+1.3% | 3.63B+4.6% | 3.47B+15.6% | 3.00B+20.7% | 2.49B+25.4% | ||
| Common stock | 54.0K-5.3% | 57.0K-1.7% | 58.0K+0.0% | 58.0K+1.8% | 57.0K+1.8% | |
| Additional paid-in capital | 1.39B+16.8% | 1.19B+18.0% | 1.01B+19.0% | 848M+19.1% | 712M+7.7% | |
| Treasury stock | — | — | 0.00-100.0% | 118K-33.3% | 177K+0.0% | |
| Accumulated other comprehensive income | 18.5M+115.9% | -117M-199.3% | -39.0M+59.0% | -95.3M-75.8% | -54.2M-112.5% | |
| Non-controlling interest | 582K-70.0% | 1.94M+235.1% | 579K-60.8% | 1.48M-83.1% | 8.72M | |
| Total equity incl. non-controlling | 3.68B+1.3% | 3.63B+4.6% | 3.47B+15.6% | 3.00B+20.3% | 2.50B+25.9% | |
| Total liabilities & equity | 4.90B+3.2% | 4.75B+9.1% | 4.35B+8.6% | 4.01B+13.8% | 3.52B+29.5% | |
| Common shares issued | 54.3M-4.6% | 56.9M-1.6% | 57.8M+0.2% | 57.7M+1.4% | 56.9M+1.3% | |
| Common shares outstanding | 54.3M-4.6% | 56.9M-1.6% | 57.8M+0.2% | 57.7M+1.4% | 56.8M+1.3% | |
| Shares outstanding (cover) | 54.1M-4.8% | 56.9M-1.6% | 57.8M+0.3% | 57.7M+1.4% | 56.9M+1.2% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 655M+17.1% | 559M-0.6% | 563M+21.2% | 464M-18.9% | 572M+5.1% | ||
| Depreciation & amortization | 125M+39.4% | 89.6M-2.4% | 91.8M-0.5% | 92.3M+10.6% | 83.4M+32.6% | |
| Intangible amortization | 71.4M+142.1% | 29.5M+29.7% | 22.7M+2.2% | 22.2M+25.9% | 17.6M+43.0% | |
| Share-based compensation | 177M+5.7% | 167M+13.2% | 148M+47.9% | 99.9M-10.5% | 112M+48.4% | |
| Deferred income taxes | -59.3M+7.6% | -64.2M-72.6% | -37.2M+11.8% | -42.2M+10.1% | -46.9M-134.6% | |
| Change in payables | -12.7M+56.4% | -29.1M-18985.7% | 154K+105.2% | -2.93M-22.1% | -2.40M-199.0% | |
| -49.0M+94.5% | -885M-1225.5% | -66.8M+63.5% | -183M+50.4% | -369M-120.7% | ||
| Capital expenditure | 42.2M+31.4% | 32.1M+13.1% | 28.4M-65.2% | 81.6M-26.8% | 112M+62.1% | |
| Free cash flow | 613M+16.3% | 527M-1.3% | 534M+39.7% | 382M-17.0% | 461M-3.1% | |
| Acquisitions | 3.43M-99.6% | 912M+3575.5% | 24.8M+133.2% | 10.6M-96.6% | 315M+1567.5% | |
| Other investing activities | 3.34M+244.5% | -2.31M-123.3% | 9.94M-65.8% | 29.0M+36845.6% | -79.0K+92.2% | |
| -651M-66.8% | -390M-135.5% | -166M-8102.5% | -2.02M+96.6% | -59.6M-7685.2% | ||
| Long-term debt issued | 5.71M+71325.0% | 8.00K-99.0% | 825K-53.2% | 1.76M-94.3% | 31.1M | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 662M+66.4% | 398M+141.3% | 165M | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other financing activities | -6.67M-136.7% | -2.82M+74.4% | -11.0M-92.4% | -5.72M-146.1% | -2.32M-10966.7% | |
| FX effect on cash | 56.3M+254.3% | -36.5M-224.2% | 29.4M+165.5% | -44.9M-148.8% | -18.0M-292.7% | |
| Net change in cash | 11.0M+101.5% | -753M-309.4% | 359M+53.4% | 234M+86.2% | 126M-67.4% | |
| Interest paid | 1.40M-62.6% | 3.74M-20.4% | 4.70M+183.2% | 1.66M+301.7% | 413K-2.8% | |
| Income taxes paid | 184M-6.1% | 196M+10.7% | 177M+56.7% | 113M+29.6% | 87.3M+60.2% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 11.1B-16.6% | 13.3B-22.5% | 17.2B-9.0% | 18.8B-50.4% | 38.0B+88.9% | |
| P/E | 29.4×+0.4% | 29.3×-19.1% | 36.2×-22.0% | 46.4×-41.3% | 78.9×+28.3% | |
| P/S | 2.0×-27.8% | 2.8×-21.9% | 3.6×-10.2% | 4.0×-60.4% | 10.1×+33.6% | |
| P/B | 3.0×-17.7% | 3.7×-29.5% | 5.2×-23.9% | 6.8×-55.3% | 15.3×+50.6% | |
| P/FCF | 18.1×-28.3% | 25.2×-20.9% | 31.9×-24.5% | 42.3×-48.8% | 82.5×+94.9% | |
| Earnings yield | 3.4%-0.4% | 3.4%+23.5% | 2.8%+28.2% | 2.2%+70.3% | 1.3%-22.0% | |
| FCF yield | 5.5%+39.4% | 4.0%+26.5% | 3.1%+32.4% | 2.4%+95.2% | 1.2%-48.7% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: EPAM’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all EPAM filings on SEC EDGAR → Not investment advice.