Stocks · Technology · Information Technology Services
EPAM Systems, Inc. EPAM
$108.29 -5.30% Close, Oct 2, 2026 · NYSE · Market cap $5.66B
Weak trendInexpensive vs sector
Next earnings report: Nov 5, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Earnings beat analyst estimates in each of the last 14 quarters (average surprise over the last four: +3.9%).
- The shares trade at 14.7× trailing earnings, lower than 95% of the company's own readings over the past five years.
- The diluted share count fell 8.1% in a year, mainly through buybacks.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 45%
- EPS growth (TTM, YoY)Bottom 41%
- FCF growth (TTM, YoY)Bottom 49%
- Revenue growth, 3-year CAGRBottom 44%
- Revenue growth accelerationBottom 16%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 23%
- Gross marginBottom 20%
- Operating marginTop 36%
- Cash conversion (OCF / net income)Bottom 33%
- Accruals (lower is better)Bottom 26%
- Net debt / EBITDA (lower is better)Top 28%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 9%
- Free-cash-flow yieldTop 18%
- EBITDA / enterprise valueTop 5%
- Sales / enterprise valueTop 11%
- P/E vs own 5-year history (lower is better)Top 12%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 27%
- 6-month returnBottom 11%
- 1-year return vs S&P 500Bottom 26%
- Distance from 52-week highBottom 20%
- Trend checklist (0–4)Bottom 10%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 33%
- Consecutive EPS beatsTop 9%
- Share of analysts rating BuyBottom 41%
- Upside to consensus price targetBottom 30%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 42%
- Maximum drawdown, 3 yearsBottom 22%
- Beta vs S&P 500 (lower is better)Top 30%
- Net debt / EBITDA (lower is better)Top 28%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 14.2% | 10.8% | ↓ |
| EPS growth (YoY) | -2.5% | 5.3% | ↑ |
| Gross margin | 30.0% | 28.3% | ↓ |
| Operating margin | 10.6% | 10.3% | ↓ |
| FCF margin | 8.1% | 8.6% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 10.8% | 14.2% | ↓ | Bottom 45% |
| EPS growth (TTM, YoY) | 5.3% | -2.5% | ↑ | Bottom 41% |
| Gross margin | 28.3% | 30.0% | ↓ | Bottom 20% |
| Operating margin | 10.3% | 10.6% | ↓ | Top 36% |
| Net margin | 7.2% | 7.9% | ↓ | — |
| Free-cash-flow margin | 8.6% | 8.1% | ↑ | — |
| Return on invested capital | 11.1% | — | Top 23% | |
| Revenue growth, 3-year CAGR | 4.2% | — | Bottom 44% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.34×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -3.0%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 3.3%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -1.3 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- -0.93×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 12.02%
- Shareholder yield
- 12.02%
- Share count change, 1 year
- -8.1%
- Share count change, 3-year CAGR
- -4.1%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 6, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 14
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +3.9%
- Average 2-day reaction, last 8
- -1.4%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $119.00
- Target vs current price
- +9.9%
- Analysts with a rating
- 37
- Share rating Buy or Strong Buy
- 59%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 6, 2026 | +7.0% | -15.3% | -8.7% | +6.7% | — |
| May 7, 2026 | +4.0% | -2.6% | -15.5% | -8.8% | +0.3% |
| Feb 19, 2026 | +3.2% | -17.0% | -21.8% | -20.1% | -46.5% |
| Nov 6, 2025 | +1.7% | +4.4% | +11.9% | +25.2% | +13.9% |
| Aug 7, 2025 | +6.1% | +4.2% | +6.3% | +11.1% | +5.2% |
| May 8, 2025 | +6.2% | +12.9% | +15.8% | +9.6% | -3.7% |
| Feb 20, 2025 | +3.3% | -12.8% | -17.4% | -29.9% | -28.4% |
| Nov 7, 2024 | +15.6% | +14.9% | +22.7% | +18.6% | +26.9% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 6, 2026 | $3.38 | $3.16 | +7.0% | $1.41B |
| May 7, 2026 | $2.86 | $2.75 | +4.0% | $1.40B |
| Feb 19, 2026 | $3.26 | $3.16 | +3.2% | $1.41B |
| Nov 6, 2025 | $3.08 | $3.03 | +1.7% | $1.39B |
| Aug 7, 2025 | $2.77 | $2.61 | +6.1% | $1.35B |
| May 8, 2025 | $2.41 | $2.27 | +6.2% | $1.30B |
| Feb 20, 2025 | $2.84 | $2.75 | +3.3% | $1.25B |
| Nov 7, 2024 | $3.12 | $2.70 | +15.6% | $1.17B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 14.7× | 30.0× | 5th | Top 9% |
| P/E (forward) | 8.2× | — | — | — |
| EV / EBITDA | 7.3× | — | — | Top 5% |
| EV / Sales | 0.89× | — | — | Top 11% |
| Free-cash-flow yield | 8.53% | — | — | Top 18% |
| Earnings yield | 6.82% | — | — | Top 9% |
P/E over the past five years
Range 12.6× – 97.8× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- -28.9%
- Earnings per share growth (TTM)
- +5.3%
- Change in P/E multiple
- -44.0%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✗ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- +11.5%
- 200-day average slope (20 days)
- -5.8%
- Distance from 50-day average
- -0.6%
- Distance from 200-day average
- -17.0%
- RSI (14)
- 45.9
- Relative volume
- 0.98×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 56.5%
- Volatility vs own 5-year history
- 71th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.11
- Correlation with S&P 500
- 0.33
- Current drawdown from 1-year high
- -51.1%
- Maximum drawdown, 3 years
- -75.8%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Nov 8, 2021 | Jun 22, 2026 | -89.4% | 1157 days | Not yet recovered |
| Feb 12, 2021 | Mar 8, 2021 | -15.3% | 15 days | 19 days (Apr 5, 2021) |
| Sep 3, 2021 | Oct 4, 2021 | -12.3% | 20 days | 14 days (Oct 22, 2021) |
| Oct 16, 2020 | Oct 30, 2020 | -11.9% | 10 days | 36 days (Dec 22, 2020) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $5.66B
- P/E (TTM)
- 14.7
- EPS, diluted (TTM)
- $7.38
- Revenue (TTM)
- $5.62B
- 52-week range
- $73.06 – $222.53
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $3.76B | $4.82B | $4.69B | $4.73B | $5.46B |
| Gross profit | $1.27B | $1.54B | $1.43B | $1.45B | $1.45B |
| Operating income | $542.3M | $573.0M | $501.2M | $544.6M | $521.2M |
| Net income | $481.7M | $419.4M | $417.1M | $454.5M | $377.7M |
| EPS (diluted) | $8.15 | $7.09 | $7.06 | $7.84 | $6.72 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.17B | $1.25B | $1.30B | $1.35B | $1.39B | $1.41B | $1.40B | $1.41B |
| Net income | $136.3M | $103.3M | $73.5M | $88.0M | $106.8M | $109.4M | $82.5M | $103.0M |
| EPS (diluted) | $2.37 | $1.80 | $1.28 | $1.56 | $1.91 | $1.98 | $1.52 | $1.97 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $572.3M | $464.1M | $562.6M | $559.2M | $654.9M |
| Capital expenditure | -$111.5M | -$81.6M | -$28.4M | -$32.1M | -$42.2M |
| Free cash flow | $460.8M | $382.5M | $534.2M | $527.0M | $612.7M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $26.3M | $50.7M | -$164.9M | -$398.0M | -$607.6M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $789.4M
- Total assets
- $4.57B
- Total liabilities
- $1.05B
- Total debt
- $152.2M
- Net debt
- -$637.2M
- Shareholders’ equity
- $3.52B
As of Jun 30, 2026 (filed Aug 6, 2026).
Short interest
- Shares sold short
- 6,404,851
- Days to cover
- 5.56
- Change vs previous report
- -14.2%
FINRA short interest, settlement date Sep 15, 2026.