# EPAM Systems Inc. (EPAM) fundamentals

Data as of 2026-11-04. NYSE, United States. Sector: Technology / IT Services. Price $138.17, market value $7.1 billion.

## Valuation
- **P/E (trailing): 18.7×** (5-yr avg 46.1×, 3-yr avg 34.1×). EPAM Systems Inc. trades at 18.7× trailing earnings, well below its own five-year average of 46.1×: cheap by its own standards. The Technology median in the September 2026 study was 32.1×. Forward P/E is 9.9×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.3×**. Each dollar of revenue is priced at 1.3×.
- **Price / book: 2.0×**. The shares trade at 2.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 8.5×**. Enterprise value is 8.5× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 6.8%** (5-yr avg 3.1%). Free cash flow equals 6.8% of the market value, above its five-year average of 3.1%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 5.3%**. The inverse of the P/E: 5.3% of the price is earned each year.

## Profitability
- **Operating margin: 10.0%**. 10.0% of revenue is left after running the business.
- **Net margin: 6.9%**. 6.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 10.3%**. 10.3% on shareholders' equity is solid.
- **Return on invested capital: 18.5%**. Return on all capital, debt included, is 18.5%: comfortably above what that capital costs.
- **Return on assets: 8.2%**. Each dollar of assets produces 8.2% of profit.

## Growth
- **Revenue growth (1 yr): 15.4%** (3-yr 4.2%/yr, 5-yr 15.5%/yr). Revenue grew 15.4% over the last year, against 15.5% a year compounded over five years.
- **EPS growth (1 yr): -14.3%** (3-yr -1.8%/yr, 5-yr 3.7%/yr). Earnings per share fell 14.3%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 17.0%/yr**. Free cash flow has compounded at 17.0% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.01**. Debt is 0.01 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. EPAM Systems Inc. holds more cash than debt.
- **Current ratio: 2.59** (quick 2.59). Current assets cover the next year's liabilities 2.59 times.
- **Altman Z-score: 6.39**. A Z-score of 6.39 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. EPAM Systems Inc. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: buy** (17 analysts). 17 analysts cover EPAM Systems Inc.; the consensus is buy, with an average price target of $128.71 (-7% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -12.1%** (YTD -29.8%, 3-mo 34.1%). The shares are down 12.1% over twelve months including dividends.
- **From 52-week high: -37.9%** (89.1% above the low). Trading 38% below its 52-week high, deep in a drawdown.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 73**. An RSI of 73 is in overbought territory; short-term pullbacks are common from here.
- **Beta (1 yr): 0.47** (volatility 52%). Beta of 0.47 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=EPAM · Page: https://foliofundamentals.com/stocks/epam

Not investment advice.