# EPAM Systems, Inc.: overview

EPAM · NYSE · CIK 1352010 · [Technology](/sectors/technology.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/epam.md) · [Financials](/companies/epam/financials.md) · [Filings](/companies/epam/filings.md) · [Insiders](/companies/epam/insiders.md)

Latest reported revenue: [$1.41bn](/filings/0001352010-26-000046.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001352010-26-000046).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,168](/filings/0001352010-25-000056.md) | [1,248 d](/filings/0001352010-26-000015.md) | [1,302](/filings/0001352010-26-000029.md) | [1,353](/filings/0001352010-26-000046.md) | [1,394](/filings/0001352010-25-000056.md) | [1,408 d](/filings/0001352010-26-000015.md) | [1,400](/filings/0001352010-26-000029.md) | [1,415](/filings/0001352010-26-000046.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [15.2%](/filings/0001352010-25-000056.md) | [10.9% d](/filings/0001352010-26-000015.md) | [7.6%](/filings/0001352010-26-000029.md) | [9.3%](/filings/0001352010-26-000046.md) | [10.4%](/filings/0001352010-25-000056.md) | [10.6% d](/filings/0001352010-26-000015.md) | [8.3%](/filings/0001352010-26-000029.md) | [10.8%](/filings/0001352010-26-000046.md) |
| Net margin | % | [11.7%](/filings/0001352010-25-000056.md) | [8.3% d](/filings/0001352010-26-000015.md) | [5.6%](/filings/0001352010-26-000046.md) | [6.5%](/filings/0001352010-26-000046.md) | [7.7%](/filings/0001352010-25-000056.md) | [7.8% d](/filings/0001352010-26-000015.md) | [5.9%](/filings/0001352010-26-000046.md) | [7.3%](/filings/0001352010-26-000046.md) |
| Diluted EPS | $ per share | [2.37](/filings/0001352010-25-000056.md) | not reported | [1.28](/filings/0001352010-26-000029.md) | [1.56](/filings/0001352010-26-000046.md) | [1.91](/filings/0001352010-25-000056.md) | not reported | [1.52](/filings/0001352010-26-000029.md) | [1.97](/filings/0001352010-26-000046.md) |
| Free cash flow | $m | [237 d](/filings/0001352010-25-000056.md) | [115 d](/filings/0001352010-26-000015.md) | [14.8](/filings/0001352010-26-000029.md) | [43.4 d](/filings/0001352010-26-000046.md) | [286 d](/filings/0001352010-25-000056.md) | [268 d](/filings/0001352010-26-000015.md) | [(54.2)](/filings/0001352010-26-000029.md) | [(17.6) d](/filings/0001352010-26-000046.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [3,758](/filings/0001352010-24-000008.md) | [4,825](/filings/0001352010-25-000007.md) | [4,691](/filings/0001352010-26-000015.md) | [4,728](/filings/0001352010-26-000015.md) | [5,457](/filings/0001352010-26-000015.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [14.4%](/filings/0001352010-24-000008.md) | [11.9%](/filings/0001352010-25-000007.md) | [10.7%](/filings/0001352010-26-000015.md) | [11.5%](/filings/0001352010-26-000015.md) | [9.5%](/filings/0001352010-26-000015.md) |
| Net margin | % | [12.8%](/filings/0001352010-24-000008.md) | [8.7%](/filings/0001352010-25-000007.md) | [8.9%](/filings/0001352010-26-000015.md) | [9.6%](/filings/0001352010-26-000015.md) | [6.9%](/filings/0001352010-26-000015.md) |
| Diluted EPS | $ per share | [8.15](/filings/0001352010-24-000008.md) | [7.09](/filings/0001352010-25-000007.md) | [7.06](/filings/0001352010-26-000015.md) | [7.84](/filings/0001352010-26-000015.md) | [6.72](/filings/0001352010-26-000015.md) |
| Free cash flow | $m | [461](/filings/0001352010-24-000008.md) | [382](/filings/0001352010-25-000007.md) | [534](/filings/0001352010-26-000015.md) | [527](/filings/0001352010-26-000015.md) | [613](/filings/0001352010-26-000015.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/epam/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $526.7m | 6,637,475 |  | Added +2,548,891 |
| [AMERIPRISE FINANCIAL INC](/funds/820027.md) | 2026-06-30 | $434.0m | 5,459,505 |  | Added +1,676,208 |
| [Capital World Investors](/funds/1422849.md) | 2026-06-30 | $382.9m | 4,825,040 |  | Reduced −2,015,102 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $275.1m | 3,466,590 |  | Added +508,897 |
| [Invesco Ltd.](/funds/914208.md) | 2026-06-30 | $191.3m | 2,410,977 |  | Reduced −1,967,927 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $180.6m | 2,275,391 |  | Reduced −1,188,548 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $155.2m | 1,956,089 |  | Reduced −277,105 |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $130.8m | 1,648,593 |  | Added +579,309 |
| [CITADEL ADVISORS LLC](/funds/1423053.md) | 2026-06-30 | $124.5m | 1,568,576 |  | Added +1,484,718 |
| [Aikya Investment Management Ltd](/funds/2005403.md) | 2026-06-30 | $108.4m | 1,365,913 |  | Added +455,298 |

## Recent filings

[All 1,279 filings](/companies/epam/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-06 | 16:00 ET | [10-Q](/filings/0001352010-26-000046.md) | Quarterly report, period 2026-06-30 | 0001352010-26-000046 |
| 2026-08-06 | 19:08 ET | [8-K](/filings/0001352010-26-000043.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001352010-26-000043 |
| 2026-05-26 | 16:03 ET | [8-K](/filings/0001352010-26-000034.md) | 5.02 Departure or appointment of officers or directors; 5.03 Amendment to articles or bylaws; 5.07 Shareholder vote results; 9.01 Financial statements and exhibits | 0001352010-26-000034 |
| 2026-05-07 | 16:02 ET | [10-Q](/filings/0001352010-26-000029.md) | Quarterly report, period 2026-03-31 | 0001352010-26-000029 |
| 2026-05-07 | 19:01 ET | [8-K](/filings/0001352010-26-000026.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001352010-26-000026 |
| 2026-04-06 | 16:08 ET | [DEF 14A](/filings/0001140361-26-013337.md) | Proxy statement, period 2026-05-21 | 0001140361-26-013337 |
| 2026-04-01 | 16:02 ET | [8-K](/filings/0001352010-26-000024.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001352010-26-000024 |
| 2026-03-12 | 21:22 ET | [8-K](/filings/0001352010-26-000021.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001352010-26-000021 |
| 2026-03-05 | 18:50 ET | [8-K](/filings/0001352010-26-000019.md) | 1.01 Entry into a material agreement; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001352010-26-000019 |
| 2026-02-26 | 16:08 ET | [10-K](/filings/0001352010-26-000015.md) | Annual report, period 2025-12-31 | 0001352010-26-000015 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001352010-26-000015.md), filed Feb 26, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/31252334-128b-46da-a144-ed1877b8179c)

## About the filer

- CIK: 1352010
- Tickers: EPAM
- Exchange: NYSE
- SIC code: 7371 Services-Computer Programming Services
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 13:38 ET. No prices; not investment advice.