• EPAM reported earnings per share (EPS) of $1.98, missing the estimated $3.16 but achieved revenue of $1.41 billion, surpassing the estimated $1.39 billion.
• The company's GAAP income from operations was 10.6% of revenues, with Non-GAAP income from operations reaching 16.3%.
• For the full year 2025, EPAM reported revenues of $5.457 billion, indicating a 15.4% year-over-year growth.

EPAM Systems, Inc. (NYSE:EPAM) is a leading global provider of digital platform engineering and software development services. The company stands out in the competitive technology services landscape, which includes giants like Accenture and Cognizant, by focusing on innovation and strategic partnerships to maintain its competitive edge.

On February 19, 2026, EPAM disclosed its financial results, revealing an EPS of $1.98, which fell short of the anticipated $3.16. Despite this, the company's revenue reached approximately $1.41 billion, exceeding the forecast of $1.39 billion. This revenue achievement marks a 12.8% increase from the previous year, showcasing EPAM's consistent growth trajectory.

In the fourth quarter of 2025, EPAM's GAAP income from operations accounted for 10.6% of revenues, while Non-GAAP income from operations was at 16.3%. The GAAP diluted EPS saw a 10% increase to $1.98, and the Non-GAAP diluted EPS rose by 14.8% to $3.26. These figures underscore the company's robust operational performance, despite the EPS shortfall.

For the entirety of 2025, EPAM reported revenues amounting to $5.457 billion, reflecting a 15.4% growth year-over-year. The GAAP income from operations was 9.5% of revenues, with Non-GAAP income from operations at 15.2%. The GAAP diluted EPS decreased by 14.3% to $6.72, whereas the Non-GAAP diluted EPS experienced a 5.9% increase, reaching $11.50. These results demonstrate EPAM's capacity to expand its revenue while maintaining operational efficiency.

EPAM's financial metrics present a solid foundation for the company. With a price-to-earnings (P/E) ratio of approximately 24.39 and a price-to-sales ratio of about 1.70, the market holds the company in favorable regard. The enterprise value to sales ratio stands at approximately 1.49, and the enterprise value to operating cash flow ratio is around 16.15. Additionally, EPAM's low debt-to-equity ratio of about 0.039 and a current ratio of approximately 2.59 indicate a strong financial position, underscoring the company's resilience and potential for sustained growth.