EPAM Systems Inc
NYSE: EPAM · TECHNOLOGY · INFORMATION TECHNOLOGY SERVICES
Updated 2026-06-05
EPAM Systems Inc (EPAM) Financial statements
SEC filings — annual and quarterly data.
Margin trends — annual
| Year | Revenue | Net income | Gross margin | Op. margin | Profit margin |
|---|---|---|---|---|---|
| 2009 | $149.94M | $13.53M | 41.29% | 10.66% | 9.02% |
| 2010 | $221.82M | $28.31M | 40.26% | 14.78% | 12.76% |
| 2011 | $334.53M | $44.35M | 38.62% | 16.44% | 13.26% |
| 2012 | $433.80M | $54.48M | 37.68% | 15.22% | 12.56% |
| 2013 | $555.12M | $61.99M | 37.37% | 13.78% | 11.17% |
| 2014 | $730.03M | $69.64M | 37.46% | 11.81% | 9.54% |
| 2015 | $914.13M | $84.46M | 37.98% | 11.59% | 9.24% |
| 2016 | $1.16B | $99.27M | 36.46% | 11.52% | 8.56% |
| 2017 | $1.45B | $72.76M | 36.48% | 11.92% | 5.02% |
| 2018 | $1.84B | $240.26M | 35.60% | 13.34% | 13.04% |
| 2019 | $2.29B | $261.06M | 35.12% | 13.20% | 11.38% |
| 2020 | $2.66B | $327.16M | 34.85% | 14.26% | 12.30% |
| 2021 | $3.76B | $481.65M | 33.91% | 14.43% | 12.82% |
| 2022 | $4.82B | $419.42M | 31.88% | 11.88% | 8.69% |
| 2023 | $4.69B | $417.08M | 30.57% | 10.69% | 8.89% |
| 2024 | $4.73B | $454.53M | 30.68% | 11.52% | 9.61% |
| 2025 | $5.46B | $377.68M | 26.55% | 9.55% | 6.92% |
Frequently asked questions
What is EPAM Systems Inc's revenue?
EPAM Systems Inc's trailing twelve-month revenue is $5.56B. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is EPAM?
In its most recent fiscal year, EPAM ran a gross margin of 26.55%, an operating margin of 9.55%, and a net margin of 6.92%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does EPAM generate?
EPAM produced $612.69M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is EPAM's balance sheet healthy?
EPAM holds $1.30B in cash and equivalents against $25.03M in long-term debt, on $3.68B of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.