EPAM Systems
Financial ratios & Valuation

Forward Multiples (2025 – 2027)

202520262027
Price/Earnings ratio
20.0016.9914.30
Price/Sales ratio
1.891.681.67
Earnings per Share (EPS)
$8.40$9.89$11.75

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
32.3545.3532.5976.8927.3646.8361.0378.4244.7641.2240.4027.36
Price/Sales ratio
3.084.192.783.853.565.337.5010.053.893.663.515.33
Price/Book Value ratio
4.856.244.145.735.207.6510.0715.186.254.955.645.20
Price/Cash Flow ratio
21.4850.1419.6328.6322.4942.5336.6866.0040.4530.5636.5122.49
Price/Free Cash Flow ratio
25.3065.5523.8733.7925.8164.9841.9881.9749.0932.1844.3025.81
Price/Earnings Growth ratio
3.362.682.34-2.650.133.742.641.73-3.17-27.43-3.053.74
Dividend Yield
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Profitability Indicator Ratios
Gross Profit Margin
37.46%37.98%36.45%36.47%35.59%35.12%34.85%33.91%31.87%28.06%31.87%35.12%
Operating Profit Margin
11.80%11.59%11.52%11.92%13.33%13.20%14.26%14.43%11.87%10.68%11.87%13.20%
Pretax Profit Margin
11.91%11.60%10.90%12.01%13.55%13.05%14.23%14.19%10.51%11.43%10.51%13.05%
Net Profit Margin
9.53%9.23%8.55%5.01%13.03%11.38%12.30%12.81%8.69%8.89%8.69%11.38%
Effective Tax Rate
19.90%20.37%21.50%58.25%3.81%12.84%13.55%9.70%17.31%22.27%17.31%3.81%
Return on Assets
11.72%10.84%10.72%5.81%14.90%11.63%12.02%13.67%10.46%9.58%10.46%11.63%
Return On Equity
15.00%13.77%12.70%7.46%19.02%16.35%16.49%19.36%13.97%12.01%15.34%16.35%
Return on Capital Employed
18.39%16.28%16.51%16.17%18.21%16.30%16.81%19.65%17.56%13.51%17.56%16.30%
Liquidity Ratios
Current Ratio
3.304.135.565.304.563.804.10N/AN/AN/A3.693.80
Quick Ratio
3.284.045.545.304.563.804.102.973.694.793.573.80
Cash ratio
1.751.553.113.212.932.422.831.892.243.152.242.42
Days of Sales Outstanding
90.16112.2282.8488.6179.6879.1968.7674.6870.5569.8070.5579.19
Days of Inventory outstanding
1.997.621.18N/AN/AN/AN/AN/AN/AN/AN/AN/A
Operating Cycle
92.15119.8584.0288.6179.6879.1968.7674.6870.5569.8017.3979.19
Days of Payables Outstanding
3.711.651.592.202.281.922.143.653.423.463.422.28
Cash Conversion Cycle
88.44118.1982.4386.4077.3977.2766.6271.0267.1266.3467.1277.27
Debt Ratios
Debt Ratio
N/A0.040.020.020.010.030.030.020.010.010.250.01
Debt Equity Ratio
N/A0.050.030.020.010.050.040.030.020.010.330.01
Long-term Debt to Capitalization
N/A0.050.030.020.010.010.010.010.000.000.040.01
Total Debt to Capitalization
N/A0.050.030.020.010.040.040.030.020.010.060.01
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A55.33N/A
Cash Flow to Debt Ratio
N/A2.186.587.8011.673.476.345.936.548.972.403.47
Company Equity Multiplier
1.281.261.181.281.271.401.371.411.331.251.331.27
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.140.080.140.130.150.120.200.150.090.110.090.12
Free Cash Flow / Operating Cash Flow Ratio
0.840.760.820.840.870.650.870.800.820.940.820.82
Cash Flow Coverage Ratio
N/A2.186.587.8011.673.476.345.936.548.972.403.47
Short Term Coverage Ratio
N/AN/AN/AN/AN/A4.998.968.6510.7315.3910.7310.73
Dividend Payout Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A