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EPAM Systems, Inc. EPAM

NYSE · stock · Services-Computer Programming Services · website · IPO 2012-02-08 · LEI

EPAM Systems, Inc. statistics & valuation

Market cap$4.2B
P / E11.2×
P / S0.8×
P / B1.1×
P / FCF6.9×
Net margin6.9%
Return on equity10.3%
FCF margin11.2%
Net cash$1.3B
Net debt / EBITDA-2×
Enterprise value USD$2.9B
EV / EBITDA4.6×
Earnings yield EBIT/EV17.7%
Return on capital13.2%
Graham number -0.8%$99.44

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($99.44); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
8.60% 5.00% 13.00% 11.40% 12.30% 12.80% 8.70% 8.90% 9.60% 6.90% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
11.50% 11.90% 13.30% 13.20% 14.30% 14.40% 11.90% 10.70% 11.50% 9.50% 2016201720182019202020212022202320242025
Return on equity (%)
12.70% 7.50% 19.00% 16.40% 16.50% 19.30% 14.00% 12.00% 12.50% 10.30% 2016201720182019202020212022202320242025
Shares outstanding
53.2M 55.0M 56.7M 57.7M 58.4M 59.1M 59.2M 59.1M 58.0M 56.2M 2016201720182019202020212022202320242025
Net debt ($)
-$911.5M -$1.30B -$1.42B -$1.65B -$2.01B -$1.26B -$1.27B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
10.70% 5.80% 14.90% 11.60% 12.00% 13.70% 10.50% 9.60% 9.60% 7.70% 2016201720182019202020212022202320242025
Free cash flow margin (%)
11.90% 11.20% 13.80% 8.20% 17.90% 12.30% 7.90% 11.40% 11.10% 11.20% 2016201720182019202020212022202320242025
Debt / equity (×)
0.02× 0.01× 0.01× 0.01× 0.01× 0.01× 0.01× 2016201720182019202020212022202320242025
EPS ($)
$1.87 $1.32 $4.24 $4.53 $5.60 $8.15 $7.09 $7.06 $7.84 $6.72 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

EPAM Systems, Inc. trades at about 14.9× earnings — below its 10-year norm (10-year range 31×–89×, median 46.9×).

14.9× 89×

Shaded band = 10-year range (31×–89×); dot = today's 14.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin9.5%11.5%10.7%11.9%14.4%14.3%13.2%13.3%11.9%11.5%
Net margin6.9%9.6%8.9%8.7%12.8%12.3%11.4%13.0%5.0%8.6%
FCF margin11.2%11.1%11.4%7.9%12.3%17.9%8.2%13.8%11.2%11.9%
Return on assets7.7%9.6%9.6%10.5%13.7%12.0%11.6%14.9%5.8%10.7%
Return on equity10.3%12.5%12.0%14.0%19.3%16.5%16.4%19.0%7.5%12.7%
Debt / equity0.01×0.01×0.01×0.01×0.01×0.01×0.02×———
Current ratio2.592.964.793.692.974.113.814.565.315.56

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.