EPAM Systems, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.46B | $4.73B | $4.69B | $4.82B | $3.76B | $2.66B | $2.29B | $1.84B |
| Cost of Revenue | $3.88B | $3.28B | $3.26B | $3.29B | $2.48B | $1.73B | $1.49B | $1.19B |
| Gross Profit | $1.57B | $1.45B | $1.43B | $1.54B | $1.27B | $927.0M | $805.6M | $656.0M |
| Gross Margin | 28.8% | 30.7% | 30.6% | 31.9% | 33.9% | 34.9% | 35.1% | 35.6% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $928.7M | $816.3M | $815.1M | $872.8M | $648.7M | $484.8M | $457.4M | $373.6M |
| Operating Income | $520.0M | $544.6M | $501.2M | $573.0M | $542.3M | $379.3M | $302.9M | $245.8M |
| Operating Margin | 9.5% | 11.5% | 10.7% | 11.9% | 14.4% | 14.3% | 13.2% | 13.3% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $505.6M | $584.4M | $536.6M | $507.3M | $533.4M | $378.5M | $299.5M | $249.8M |
| Income Tax Expense | $127.9M | $129.9M | $119.5M | $87.8M | $51.7M | $51.3M | $38.5M | $9.5M |
| Net Income | $377.7M | $454.5M | $417.1M | $419.4M | $481.7M | $327.2M | $261.1M | $240.3M |
| Net Margin | 6.9% | 9.6% | 8.9% | 8.7% | 12.8% | 12.3% | 11.4% | 13.0% |
| EPS (Basic) | $6.76 | $7.93 | $7.21 | $7.32 | $8.52 | $5.87 | $4.77 | $4.48 |
| EPS (Diluted) | $6.72 | $7.84 | $7.06 | $7.09 | $8.15 | $5.60 | $4.53 | $4.24 |
| Shares Outstanding (Basic) | 55.9M | 57.3M | 57.8M | 57.3M | 56.5M | 55.7M | 54.7M | 53.6M |
| Shares Outstanding (Diluted) | 56.2M | 58.0M | 59.1M | 59.2M | 59.1M | 58.4M | 57.7M | 56.7M |
| Dividends Per Share | — | — | — | — | — | — | — | — |