What are EPAM Systems's profit margins?

EPAM Systems (EPAM) runs a 29.0% gross margin and a 9.7% operating margin, with a 7.0% net margin.

Where do EPAM Systems's ratios come from?

Every ratio is computed from EPAM Systems's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

EPAM Systems EPAM Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	29%-1.2pp	28.8%-1.8pp	28.9%-2.0pp	30%+0.1pp	30.2%-0.2pp
Operating margin	9.7%-1.3pp	9.5%-2.0pp	9.6%-1.9pp	10.6%+0.5pp	11%+0.4pp
Net margin	7%-1.5pp	6.9%-2.7pp	7%-2.7pp	7.9%-1.0pp	8.5%-0.8pp
EBITDA margin	11.9%-1.1pp	11.8%-1.6pp	11.9%-1.4pp	12.8%+0.7pp	13%+0.5pp
Free cash flow margin	9.8%+1.2pp	11.2%+0.1pp	8.7%-3.7pp	8.1%-3.8pp	8.6%-3.8pp
Returns
Return on equity	10.9%-0.6pp	10.3%-2.5pp	10.2%-2.9pp	11.4%-0.9pp	11.6%-1.5pp
Return on assets	8.2%-0.8pp	7.8%-2.2pp	8%-2.4pp	9%-0.9pp	9.1%-1.2pp
Return on invested capital	14.7%-3.7pp	15.5%-5.2pp	17.5%-7.8pp	17.4%-4.2pp	18.5%-6.2pp
Efficiency
Asset turnover	1.2×+0.1×	1.1×+0.1×	1.1×+0.1×	1.1×0.0×	1.1×0.0×
Liquidity
Current ratio	2.7×-0.4×	2.6×-0.4×	3×-1.5×	3.2×-1.7×	3.1×-1.6×
Quick ratio	2.7×-0.4×	2.6×-0.4×	3×-1.5×	3.2×-1.7×	3.1×-1.6×
Cash ratio	1.2×-0.3×	1.3×-0.2×	1.5×-1.5×	1.4×-1.6×	1.5×-1.5×
Leverage
Debt-to-equity	0.1×0.0×	0×0.0×	0×0.0×	0×0.0×	0×0.0×
Debt-to-assets	0.1×0.0×	0×0.0×	0×0.0×	0×0.0×	0×0.0×
Net debt / EBITDA	-1.1×+0.5×	-1.8×0.0×	-1.7×+1.3×	-1.4×+1.6×	-1.6×+1.5×
Per Share
Book value per share	$63.32-0.5%	$65.39+4.5%	$66.76+7.9%	$64.88+11.0%	$63.61+7.9%
Valuation
Market capitalization	$7.33B-23.7%	$11.32B-14.7%	$8.4B-25.9%	$9.79B-10.3%	$9.6B-39.9%
Enterprise value	$6.58B-23.4%	$10.16B-16.3%	$7.31B-22.7%	$8.9B-4.1%	$8.58B-39.3%
Price / earnings	19×-4.4×	30×+0.8×	22.6×-2.7×	24.4×-2.2×	23.3×-13.7×
Price / sales	1.3×-0.7×	2.1×-0.7×	1.6×-0.9×	1.9×-0.4×	2×-1.5×
Price / book	2.1×-0.5×	3.1×-0.6×	2.3×-0.9×	2.7×-0.5×	2.6×-2.0×
EV / EBITDA	9.9×-3.7×	15.8×-3.4×	11.6×-3.7×	13.7×-2.9×	13.6×-10.7×
EV / sales	1.2×-0.6×	1.9×-0.7×	1.4×-0.7×	1.8×-0.3×	1.8×-1.3×
Free cash flow yield	7.4%+3.1pp	5.4%+1.4pp	5.5%+0.4pp	4.2%-0.8pp	4.4%+0.7pp
Earnings yield	5.3%+1.0pp	3.3%-0.1pp	4.4%+0.5pp	4.1%+0.3pp	4.3%+1.6pp

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Questions, answered.

What are EPAM Systems's profit margins?: EPAM Systems (EPAM) runs a 29.0% gross margin and a 9.7% operating margin, with a 7.0% net margin.
Where do EPAM Systems's ratios come from?: Every ratio is computed from EPAM Systems's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.