# EPAM Systems Inc. (EPAM) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Technology / IT Services. Price $117.04, market value $6.0 billion.

## Valuation
- **P/E (trailing): 15.9×** (5-yr avg 46.1×, 3-yr avg 34.1×). EPAM Systems Inc. trades at 15.9× 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 8.3×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.1×**. Each dollar of revenue is priced at 1.1×.
- **Price / book: 1.7×**. The shares trade at 1.7× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 6.9×**. Enterprise value is 6.9× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 8.0%** (5-yr avg 3.1%). Free cash flow equals 8.0% 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: 6.3%**. The inverse of the P/E: 6.3% 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.
- **Altman Z-score: 5.47**. A Z-score of 5.47 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 $122.82 (+5% 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): -30.4%** (YTD -42.9%, 3-mo 19.4%). The shares are down 30.4% over twelve months including dividends.
- **From 52-week high: -47.4%** (60.2% above the low). Trading 47% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 64**. An RSI of 64 is neutral.
- **Beta (1 yr): 0.61** (volatility 51%). Beta of 0.61 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.