EPAM Systems, Inc. (EPAM)

EPAM Systems Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	386.72	377.68	454.53	417.08	419.42	481.65
Depreciation & Amortization	167.09	166.08	127.1	132.7	140.05	145.15
Stock-Based Compensation	178.23	176.76	167.3	147.73	99.91	111.66
Other Adjustments	-33.65	-46.45	-62.45	-9.71	34.56	-31.28
Change in Receivables	-71.25	-69.13	15.59	32.36	-192.71	-211.68
Changes in Accounts Payable	-25.99	-12.68	-29.08	0.15	-2.93	-2.4
Changes in Accrued Expenses	85.5	144.13	10.67	-84.61	26.03	155.66
Changes in Income Taxes Payable	-25.35	-20.36	-8.17	-33.39	3.6	3.57
Changes in Other Operating Activities	-66.65	-61.09	-116.32	-39.68	-63.81	-79.99
Operating Cash Flow	594.41	654.93	559.17	562.63	464.1	572.33
Operating Cash Flow Growth	31.10%	17.13%	-0.62%	21.23%	-18.91%	5.13%
Capital Expenditures	-50.77	-42.24	-32.15	-28.42	-81.63	-111.5
Purchases of Investments	-1.57	-3.08	-8.84	-14.47	-61.63	-2.54
Proceeds from Sale of Investments	2.35	3.05	65.85	10.87	-	60
Payments for Business Acquisitions	-6.98	-3.43	-912.16	-24.82	-10.64	-314.96
Other Investing Activities	-2.34	-3.34	2.31	-9.94	-29.03	0.08
Investing Cash Flow	-59.39	-49.05	-884.98	-66.77	-182.93	-368.92
Long-Term Debt Issued	140	5.71	0.01	0.83	1.76	31.11
Long-Term Debt Repaid	-7.73	-8.26	-1.87	-2.97	-15.54	-31.05
Net Long-Term Debt Issued (Repaid)	132.27	-2.55	-1.86	-2.14	-13.78	0.06
Issuance of Common Stock	35.8	54.58	53.73	51.64	50.66	26.29
Repurchase of Common Stock	-854.8	-688.96	-433.22	-194.03	-26.56	-41.6
Net Common Stock Issued (Repurchased)	-819	-634.38	-379.49	-142.39	24.1	-15.31
Other Financing Activities	-12.87	-14.27	-9.06	-21.24	-12.35	-44.3
Financing Cash Flow	-693.89	-651.2	-390.41	-165.77	-2.02	-59.56
Effect of Exchange Rate Changes on Cash and Cash Equivalents	22.97	56.3	-36.5	29.38	-44.87	-18.03
Net Cash Flow	-135.89	10.99	-752.72	359.47	234.29	125.81
Free Cash Flow	543.64	612.69	527.02	534.22	382.48	460.83
Free Cash Flow Growth	-11.27%	16.25%	-1.35%	39.67%	-17.00%	-3.11%
FCF Margin	9.79%	11.23%	11.15%	11.39%	7.93%	12.26%
Free Cash Flow Per Share	9.80	10.90	9.09	9.04	6.46	7.80
Levered Free Cash Flow	602.81	548.96	404.73	361.7	426.94	592.19
Unlevered Free Cash Flow	474.6	562.25	375.61	336.37	495.05	600.19

Updated May 7, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q