Metrics
The numbers behind EPAM Systems, Inc.: as-reported financial statements and company metrics for FY2021–FY2025, traced to the source filings, opened with the share-price history those statements have to justify. Every linked figure opens the exact page of the filing it was printed on, with the statement row highlighted. Amounts in US$ thousands unless noted.
Reading notes: All figures are in thousands of U.S. dollars, as printed in EPAM's Consolidated Financial Statements (each 10-K states '(In thousands, except per share data)'). Main statement columns FY2021–FY2025 are all verified to filing pages. FY2025/FY2024 from the FY2025 Form 10-K; FY2023 income/revenue/segment from the FY2025 10-K comparative column, FY2023 balance sheet and cash flow from the FY2023 Form 10-K; FY2022 and FY2021 from the FY2022 Form 10-K. Long-Term Record FY2016–FY2020 figures are from the standardized data feed (SEC XBRL) and are shown without page links; FY2021–FY2025 are cited to filing pages. Revenue by Industry Vertical uses EPAM's current (FY2025) vertical labels. The 'Consumer Goods, Retail and Travel' vertical was labeled 'Travel Consumer' in the FY2022 10-K (a rename, not a restatement); the FY2021/FY2022 quotes reference that prior label.
Share Price — Full Available History — 14 Years
The stock closed at $86.38 on Jul 13, 2026 — up 517% over the window shown (+13.4% a year), trading between $13.40 and $717.49. At that close the stock trades at 13× FY2025 diluted EPS as reported below.
Source: market price feed, monthly closes, sampled from 3,626 source observations, Feb 2012–Jul 2026. Price return only, excludes dividends. Note: the series shows a 46% single-day move around 2022-02-28 that may be an unadjusted corporate action — no split record was available to verify.
Market capitalization $4.6bn and enterprise value $3.3bn.
Market cap = 53.2M shares outstanding × the Jul 13, 2026 close of $86.38. Enterprise value adds total debt of $25mn and subtracts cash and equivalents of $1.3bn (net cash of $1.3bn), from the FY2025 balance sheet. Market-derived figures, shown without filing links.
FY2025 at a Glance
Revenue (US$ thousands)
Net income (US$ thousands)
Diluted EPS
Source: FY2025 consolidated statements [1] [2]. Click any linked figure to open the filing page with the row highlighted.
Revenue by Industry Vertical
| Revenue by Industry Vertical | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Financial Services | 848,370 | 1,026,686 | 1,018,433 | 1,022,617 | 1,316,487 |
| Consumer Goods, Retail and Travel | 741,128 | 1,092,224 | 1,072,950 | 1,013,138 | 1,077,513 |
| Software and Hi-Tech | 664,597 | 793,261 | 707,720 | 702,367 | 821,819 |
| Business Information and Media | 666,941 | 809,952 | 753,981 | 674,597 | 675,667 |
| Life Sciences and Healthcare | 391,309 | 507,367 | 489,914 | 574,605 | 625,607 |
| Emerging Verticals | 445,799 | 595,208 | 647,542 | 740,616 | 939,963 |
| Total revenues | 3,758,144 | 4,824,698 | 4,690,540 | 4,727,940 | 5,457,056 |
| Total revenues growth, derived | — | +28.4% | -2.8% | +0.8% | +15.4% |
Source: Note 13 (Note 12 in FY2022) Revenues — Disaggregation of Revenues by industry vertical, consolidated [3] [4]. Click any linked figure to open the filing page with the row highlighted.
Results by Reportable Segment
| Results by Reportable Segment | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Americas — segment revenues | 2,242,248 | 2,898,554 | 2,765,022 | 2,866,339 | 3,166,116 |
| Europe — segment revenues | 1,350,484 | 1,853,056 | 1,909,443 | 1,861,601 | 2,290,940 |
| Americas — segment operating profit | 462,798 | 589,412 | 511,030 | 541,424 | 522,115 |
| Europe — segment operating profit | 233,727 | 223,276 | 250,224 | 284,176 | 332,953 |
| Total segment operating profit | 729,072 | 799,228 | 756,184 | 825,600 | 855,068 |
Source: Note 19 (Note 17 in FY2022) Segment Information [5] [6] [7]. Click any linked figure to open the filing page with the row highlighted.
Income Statement
Source: Consolidated Statements of Income [1] [2]. Click any linked figure to open the filing page with the row highlighted.
Columns marked E are consensus analyst estimates from S&P Capital IQ (CapIQ), shown alongside reported results for direct comparison; they are not company guidance.
Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-07-22. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.
Balance Sheet
Source: Consolidated Balance Sheets [8] [9] [10]. Click any linked figure to open the filing page with the row highlighted.
Cash Flow
Source: Consolidated Statements of Cash Flows [11] [12] [13]. Click any linked figure to open the filing page with the row highlighted.
Talent Delivery
| Talent Delivery | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total employees | 58,800 | 59,300 | 53,150 | 61,200 | 62,850 |
| Delivery professionals | 52,600 | 52,850 | 47,350 | 55,100 | 56,600 |
| Utilization rate of delivery professionals | 78.7% | 75.8% | 74.3% | 76.7% | 76.8% |
| Voluntary attrition rate | 13.3% | 13.8% | 8.6% | 8.9% | 8.5% |
Source: company filings [14] [15] [16] [17]. Click any linked figure to open the filing page with the row highlighted.
Client Concentration Base
| Client Concentration Base | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Top five clients (% of revenues) | 18.2% | 16.4% | 16.6% | 15.8% | 13.7% |
| Top ten clients (% of revenues) | 25.7% | 23.8% | 23.6% | 23.4% | 21.6% |
| Top twenty clients (% of revenues) | 37.1% | 35.2% | 35.4% | 34.2% | 31.9% |
| Clients over $20 million (count) | 40 | 49 | 44 | 43 | 53 |
| Clients contributing $1–$5 million (count) | 271 | 303 | 305 | 331 | 375 |
Source: company filings [18] [19] [20]. Click any linked figure to open the filing page with the row highlighted.
Delivery Footprint (delivery professionals by location)
| Delivery Footprint (delivery professionals by location) | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| India | — | 5,900 | 7,050 | 10,072 | 12,200 |
| Ukraine | — | 10,500 | 9,113 | 8,764 | 8,750 |
| Poland | — | 5,650 | 5,400 | 5,000 | 5,050 |
| Belarus | — | 4,500 | 3,500 | 3,350 | 3,400 |
Source: company filings [21] [22] [23] [17]. Click any linked figure to open the filing page with the row highlighted.
Long-Term Record
| Fiscal year | Total revenue | Income from operations | Net income | Diluted EPS | Operating cash flow |
|---|---|---|---|---|---|
| FY2016 | 1,160,132 | 133,696 | 99,266 | 1.87 | 167,217 |
| FY2017 | 1,450,448 | 172,946 | 72,760 | 1.32 | 192,820 |
| FY2018 | 1,842,912 | 245,764 | 240,256 | 4.24 | 292,218 |
| FY2019 | 2,293,798 | 302,850 | 261,057 | 4.53 | 287,453 |
| FY2020 | 2,659,478 | 379,324 | 327,160 | 5.60 | 544,407 |
| FY2021 | 3,758,144 | 542,316 | 481,652 | 8.15 | 572,327 |
| FY2022 | 4,824,698 | 572,966 | 419,416 | 7.09 | 464,104 |
| FY2023 | 4,690,540 | 501,239 | 417,083 | 7.06 | 562,634 |
| FY2024 | 4,727,940 | 544,584 | 454,533 | 7.84 | 559,168 |
| FY2025 | 5,457,056 | 520,003 | 377,678 | 6.72 | 654,934 |
Source: consolidated statements across filings; older years from the standardized feed [11] [1] [12] [13]. Click any linked figure to open the filing page with the row highlighted.
Analyst Consensus
Mean target
Median target
High target
Low target
Street ratings: 8 strong buy, 3 buy, 8 hold. Consensus: Buy.
Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-07-22. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.
Traceability
333 of 358 figures on this page (93%) link to the filing page where they are printed — click a linked figure to open the source PDF at that page with the row highlighted. Unlinked figures come from standardized data feeds or pre-filing years.
All figures are in thousands of U.S. dollars, as printed in EPAM's Consolidated Financial Statements (each 10-K states '(In thousands, except per share data)').
Main statement columns FY2021–FY2025 are all verified to filing pages. FY2025/FY2024 from the FY2025 Form 10-K; FY2023 income/revenue/segment from the FY2025 10-K comparative column, FY2023 balance sheet and cash flow from the FY2023 Form 10-K; FY2022 and FY2021 from the FY2022 Form 10-K.
Long-Term Record FY2016–FY2020 figures are from the standardized data feed (SEC XBRL) and are shown without page links; FY2021–FY2025 are cited to filing pages.
Revenue by Industry Vertical uses EPAM's current (FY2025) vertical labels. The 'Consumer Goods, Retail and Travel' vertical was labeled 'Travel Consumer' in the FY2022 10-K (a rename, not a restatement); the FY2021/FY2022 quotes reference that prior label.
In 2025 EPAM renamed its 'North America' reportable segment to 'Americas' (naming change only; prior amounts unchanged). The Americas segment rows for FY2021/FY2022 cite the 'North America' rows of the FY2022 10-K.
Total segment operating profit for FY2021–FY2023 includes the former Russia segment (FY2021 +32,547; FY2022 -13,460; FY2023 -5,070), which is not shown as a separate row; therefore no component-sum check is applied to that total. EPAM exited its Russia operations on July 26, 2023.
The FY2025 10-K cash-flow page (p.72) truncates the FY2023 comparative column in the parsed text, so FY2023 cash-flow figures are cited to the FY2023 10-K (p.72) where they print in full.
No material discrepancies were found between the filings and the standardized numeric feed; all cross-checked line items agree to the dollar (in thousands).