EPAM Systems Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	5,457	4,728	4,691	4,825	3,758
Revenue Growth (YoY)	15.42%	0.80%	-2.78%	28.38%	41.31%
Cost of Revenue	3,882	3,275	3,236	3,243	2,484
Gross Profit	1,575	1,453	1,455	1,582	1,274
Selling, General & Admin	867.15	758.91	772.16	781.58	645.14
Operating Expenses	991.96	848.47	863.96	873.85	728.53
Operating Income	583.36	604.37	590.77	707.87	545.92
Interest & Investment Income	14.31	52.58	53.94	22.43	7.06
Currency Exchange Gain (Loss)	-25.93	-7.05	-15.78	-75.73	-7.2
EBT Excluding Unusual Items	571.75	649.9	628.93	654.56	545.77
Merger & Restructuring Charges	-49.05	-45.37	-28.99	-17.1	-3.6
Impairment of Goodwill	-	-	-	-0.7	-
Gain (Loss) on Sale of Investments	-	-	-	-1.3	-
Gain (Loss) on Sale of Assets	-	-	-25.92	-	-
Asset Writedown	-	-0.42	-6.02	-18.9	-
Other Unusual Items	-17.07	-19.7	-31.41	-109.3	-8.78
Pretax Income	505.62	584.41	536.59	507.26	533.39
Income Tax Expense	127.95	129.88	119.5	87.84	51.74
Net Income	377.68	454.53	417.08	419.42	481.65
Net Income to Common	377.68	454.53	417.08	419.42	481.65
Net Income Growth	-16.91%	8.98%	-0.56%	-12.92%	47.22%
Shares Outstanding (Basic)	56	57	58	57	57
Shares Outstanding (Diluted)	56	58	59	59	59
Shares Change (YoY)	-3.02%	-1.86%	-0.14%	0.18%	1.06%
EPS (Basic)	6.76	7.93	7.21	7.32	8.52
EPS (Diluted)	6.72	7.84	7.06	7.09	8.15
EPS Growth	-14.29%	11.05%	-0.42%	-13.01%	45.54%
Free Cash Flow	-	527.02	534.22	382.48	460.83
Free Cash Flow Per Share	-	9.09	9.04	6.46	7.80
Gross Margin	28.87%	30.73%	31.01%	32.78%	33.91%
Operating Margin	10.69%	12.78%	12.60%	14.67%	14.53%
Profit Margin	6.92%	9.61%	8.89%	8.69%	12.82%
Free Cash Flow Margin	-	11.15%	11.39%	7.93%	12.26%
EBITDA	708.73	692.93	681.47	799.05	628.2
EBITDA Margin	12.99%	14.66%	14.53%	16.56%	16.72%
D&A For EBITDA	125.37	88.56	90.7	91.19	82.29
EBIT	583.36	604.37	590.77	707.87	545.92
EBIT Margin	10.69%	12.78%	12.60%	14.67%	14.53%
Effective Tax Rate	25.30%	22.22%	22.27%	17.32%	9.70%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.