EPAM Systems, Inc.

10-K & 10-Q Filings

EPAM Systems, Inc. is a leading global provider of digital engineering, cloud, and artificial intelligence-enabled transformation services. The company's business strategy involves using its software engineering expertise to help clients create intelligent enterprise hubs with proprietary platforms, integrated engineering practices, and smart automation. EPAM's service offerings include engineering, cloud, data, analytics and AI, customer experience, and cybersecurity. The company serves clients in various industries, including financial services, travel and consumer, software and hi-tech, business information and media, and life sciences and healthcare. EPAM's global delivery model allows it to seamlessly deliver services and solutions from its delivery centers around the world. The company's website is epam.com, and its ticker symbol is EPAM.

12 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 2023CAGR %YoY %Revenue (+)
$433.80
555.12
730.03
914.13
1160.13
1450.45
1842.91
2293.80
2659.48
3758.14
4824.70
4690.54
24.16%-2.78%Cost of Revenue (-)
$270.36
347.65
456.53
566.91
737.19
921.35
1186.92
1488.20
1732.52
2483.70
3286.68
3256.51
25.39%-0.92%Gross Profit (+)
$163.44
207.47
273.50
347.22
422.95
529.10
655.99
805.60
926.96
1274.45
1538.02
1434.03
21.83%-6.76%Selling, General & Administrative (-)
$85.87
116.50
163.67
222.76
264.66
324.86
373.59
457.43
484.76
648.74
872.78
815.07
22.70%-6.61%Depreciation & Amortization (-)
$10.88
15.12
17.48
17.39
23.39
28.56
36.64
45.32
62.87
83.39
92.27
91.80
21.39%-0.51%Non-recurring Operating Expenses (-)
$
2.24
Operating Expenses (-)
$97.43
132.26
187.31
241.25
289.25
356.15
410.23
502.75
547.63
732.13
965.05
932.79
22.80%-3.34%Costs & Expenses (Total) (-)
$367.79
479.91
643.84
808.16
1026.44
1277.50
1597.15
1990.95
2280.15
3215.83
4251.73
4189.30
24.75%-1.47%Operating Income/Loss (+)
$66.01
76.49
86.18
105.97
133.70
172.95
245.76
302.85
379.32
542.32
572.97
501.24
20.24%-12.52%Non-operating Income/Expense (+)
$-0.14
0.28
0.77
0.10
-7.23
1.36
4.01
-3.32
-0.84
-8.92
-65.71
35.35
153.79%Earnings before Tax (+)
$65.86
76.77
86.95
106.07
126.47
174.31
249.77
299.53
378.48
533.39
507.26
536.59
21.01%5.78%Tax Expense (-)
$11.38
14.78
17.31
21.61
27.20
101.55
9.52
38.47
51.32
51.74
87.84
119.50
23.83%36.04%Income/Loss (Continuing Operations) (+)
$54.48
61.99
69.64
84.46
99.27
72.76
240.26
261.06
327.16
481.65
419.42
417.08
20.33%-0.56%Net Income/Loss (NCI) (-)
$-3.34
Net Income/Loss (+)
$54.48
61.99
69.64
84.46
99.27
72.76
240.26
261.06
327.16
481.65
419.42
417.08
20.33%-0.56%Preferred & Other Distributions (-)
$
Net Income/Loss (Common) (+)
$51.14
61.99
69.64
84.46
99.27
72.76
240.26
261.06
327.16
481.65
419.42
417.08
21.02%-0.56%EPS (Basic)
$1.27
1.35
1.48
1.73
1.97
1.40
4.48
4.77
5.87
8.52
7.32
7.21
17.10%-1.50%EPS (Diluted)
$1.17
1.28
1.40
1.62
1.87
1.32
4.24
4.53
5.60
8.15
7.09
7.06
17.75%-0.42%Weighted Avg Shares (Basic)
40.19
45.80
47.19
48.72
50.31
52.08
53.62
54.72
55.73
56.51
57.29
57.83
3.36%0.94%Weighted Avg Shares (Diluted)
43.82
48.41
49.73
51.99
53.22
54.98
56.67
57.67
58.45
59.06
59.17
59.09
2.75%-0.14%Cash
$118.11
169.50
220.53
199.45
364.42
582.59
770.56
936.55
1322.14
1446.63
1681.34
2036.23
29.54%21.11%Short-term Investments
$
60.01
60.34
60.74
0.67%Receivables
$112.32
140.53
182.77
273.11
266.03
354.25
402.34
Prepaid Expenses (Current)
$12.26
14.36
9.29
14.34
15.69
23.20
26.17
39.94
29.57
53.93
85.32
97.36
20.72%14.11%Other Assets (Current)
$8.26
6.58
2.50
42.03
0.40
497.72
501.06
768.93
932.63
897.03
53.14%-3.82%Assets (Current)
$250.96
330.97
415.09
528.93
646.55
960.03
1199.07
1474.21
1912.78
2269.48
2759.63
3091.36
25.64%12.02%Securities & Long-term Investments
$
0.23
Property, Plant & Equipment (Net)
$53.13
53.31
55.13
60.50
73.62
86.42
102.65
404.25
398.20
421.06
422.13
369.95
19.29%-12.36%Goodwill & Intangibles
$39.53
36.00
105.11
162.79
160.55
164.04
223.90
251.30
263.93
631.87
606.72
633.58
28.69%4.43%Other Assets
$7.19
12.37
18.70
26.31
45.09
39.76
86.19
114.45
146.41
200.83
220.67
257.48
38.44%16.68%Assets (Non-current)
$99.86
101.91
178.94
249.60
279.26
290.22
412.73
770.00
808.55
1253.75
1249.53
1261.00
25.93%0.92%Assets (Total)
$350.81
432.88
594.03
778.54
925.81
1250.26
1611.80
2244.21
2721.33
3523.23
4009.15
4352.36
25.73%8.56%Accounts Payable
$40.47
37.18
61.55
92.43
28.22
46.43
75.29
246.93
325.50
555.28
552.79
483.55
25.30%-12.53%Debt (Current)
$
57.54
16.02
2.86
Other Liabilities (Current)
$18.89
17.48
63.87
35.48
88.00
134.53
187.54
82.48
140.45
192.12
191.83
161.38
21.53%-15.87%Liabilities (Current)
$59.35
54.66
125.41
127.91
116.22
180.97
262.83
386.95
465.95
763.42
747.48
644.93
24.22%-13.72%Debt (Non-current)
$
35.00
25.05
25.03
25.03
205.92
25.04
30.23
27.69
26.13
-5.66%Other Liabilities
$5.18
2.11
4.56
2.40
3.13
69.31
61.35
55.19
247.33
233.74
230.96
209.84
40.00%-9.15%Liabilities (Non-current)
$5.18
2.11
4.56
37.40
28.18
94.34
86.38
261.12
272.36
263.97
258.66
235.96
41.50%-8.77%Liabilities (Total)
$64.53
56.78
129.98
165.31
144.40
275.31
349.21
648.06
738.31
1027.39
1006.14
880.89
26.82%-12.45%Treasury Stock
$8.70
-8.68
4.04
0.09
0.18
0.18
0.18
0.18
0.18
0.18
0.12
Retained Earnings
$128.99
190.99
260.60
345.05
444.32
518.82
759.53
1020.59
1347.88
1829.53
2248.95
2501.11
30.93%11.21%AOCI
$-1.02
-1.83
-22.05
-35.15
-37.69
-17.62
-41.51
-31.37
-25.51
-54.21
-95.32
-39.04
59.04%Shareholder's Equity
$286.28
376.10
464.05
613.22
781.41
974.95
1262.60
1596.14
1983.02
2495.84
3003.01
3471.47
25.46%15.60%Liabilities & Equity
$350.81
432.88
594.03
778.54
925.81
1250.26
1611.80
2244.21
2721.33
3523.23
4009.15
4352.36
25.73%8.56%Net Income/Loss
$54.48
61.99
69.64
84.46
99.27
72.76
240.26
261.06
327.16
481.65
419.42
417.08
20.33%-0.56%Depreciation & Amortization
$10.88
15.12
17.48
17.39
23.39
28.56
36.64
45.32
129.24
145.15
140.05
91.80
21.39%-34.45%Increase/Decrease in Working Capital
$17.77
-26.20
10.76
52.42
10.61
-33.03
-5.00
145.44
-23.71
134.86
229.83
125.17
19.42%-45.54%Share-based Compensation
$6.83
13.15
24.62
45.83
49.24
52.41
59.19
72.04
75.24
111.66
99.91
147.73
32.25%47.86%Adjustments to Reconcile Net Income
$-6.05
-3.77
35.23
-8.77
65.55
122.60
51.96
26.40
217.25
90.67
44.69
145.55
225.70%Net Cash (Operating)
$48.50
58.23
104.87
76.39
164.82
195.36
292.22
287.45
544.41
572.33
464.10
562.63
24.96%21.23%Capital Expenditure
$60.03
-15.94
52.93
94.87
34.82
36.65
111.84
138.63
108.18
429.00
93.90
58.70
-0.20%-37.49%Net Cash (Investing)
$-59.63
-21.82
-52.93
-125.49
-9.32
-36.17
-112.12
-145.37
-167.15
-368.92
-182.93
-66.77
63.50%Increase/Decrease in Debt
$
35.00
-10.13
-0.10
-3.49
-0.01
-0.02
0.06
-13.78
-2.14
84.44%Increase/Decrease in Equity
$30.60
53.98
34.84
37.00
26.41
26.29
50.66
-113.29
-323.62%Interest Expenses
$0.01
0.03
0.01
0.12
0.57
0.55
0.78
0.83
0.42
0.41
1.66
4.70
69.67%183.18%Net Cash (Financing)
$38.85
15.50
10.35
33.76
10.47
49.75
23.00
20.36
-0.77
-59.56
-2.02
-165.77
-8102.52%Cash Taxes Paid
$13.06
10.21
11.76
25.07
37.49
26.67
40.44
88.43
40.14
87.32
113.19
177.43
26.76%56.75%Effect of Exchange Rate
$1.60
-0.81
-10.96
-5.75
-3.39
11.62
-14.24
3.53
9.36
-18.03
-44.87
29.38
30.31%165.48%Increase/Decrease in Cash
$29.32
51.09
51.33
-21.09
162.58
220.56
188.86
165.98
385.85
125.81
234.29
359.47
25.59%53.43%Cash (Beginning)
$88.80
118.11
169.21
220.53
199.45
362.02
582.86
771.71
937.69
1323.53
1449.35
1683.64
30.67%16.17%Cash (Ending)
$118.11
169.21
220.53
199.45
362.02
582.59
771.71
937.69
1323.53
1449.35
1683.64
2043.11
29.58%21.35%NOPAT
$52.91
66.32
74.53
80.92
94.06
146.48
205.98
213.44
339.10
453.54
445.12
335.50
18.28%-24.63%Gross Margin %
37.68%
37.37%
37.46%
37.98%
36.46%
36.48%
35.60%
35.12%
34.85%
33.91%
31.88%
30.57%
Operating Margin %
15.22%
13.78%
11.81%
11.59%
11.52%
11.92%
13.34%
13.20%
14.26%
14.43%
11.88%
10.69%
NOPAT Margin %
12.20%
11.95%
10.21%
8.85%
8.11%
10.10%
11.18%
9.30%
12.75%
12.07%
9.23%
7.15%
Net Margin %
12.56%
11.17%
9.54%
9.24%
8.56%
5.02%
13.04%
11.38%
12.30%
12.82%
8.69%
8.89%
Tax Rate %
19.84%
13.30%
13.52%
23.64%
29.64%
15.30%
16.19%
29.52%
10.60%
16.37%
22.31%
33.07%
ROA
15.08%
15.32%
12.55%
10.39%
10.16%
11.72%
12.78%
9.51%
12.46%
12.87%
11.10%
7.71%
ROE
18.48%
17.63%
16.06%
13.20%
12.04%
15.02%
16.31%
13.37%
17.10%
18.17%
14.82%
9.66%
ROIC
25.11%
26.13%
22.46%
16.45%
16.81%
22.22%
26.74%
33.52%
60.35%
54.56%
46.96%
33.36%
Asset Turnover
1.24
1.28
1.23
1.17
1.25
1.16
1.14
1.02
0.98
1.07
1.20
1.08
Equity Multiplier
1.23
1.15
1.28
1.27
1.18
1.28
1.28
1.41
1.37
1.41
1.34
1.25
Current Ratio
4.23
6.05
3.31
4.14
5.56
5.31
4.56
3.81
4.11
2.97
3.69
4.79
Quick Ratio
3.88
5.67
3.22
3.69
5.42
5.18
4.46
2.42
2.97
1.89
2.33
3.25
Debt/Equity Ratio
0.06
0.03
0.03
0.02
0.17
0.01
0.02
0.01
0.01
Interest Coverage Ratio
4714.71
2942.04
12311.86
854.57
236.21
315.59
316.30
364.00
892.53
1313.11
345.37
106.69
Working Capital/Sales
0.27
0.30
0.24
0.29
0.28
0.28
0.24
-0.01
-0.04
-0.06
-0.02
0.00
Total Payout
$-30.58
0.03
0.01
-34.88
10.70
-53.33
-30.57
-36.16
-25.97
-25.93
-35.22
120.13
441.07%Payout Ratio %
-57.80%
0.04%
0.01%
-43.10%
11.37%
-36.41%
-14.84%
-16.94%
-7.66%
-5.72%
-7.91%
35.81%