Epam Systems (EPAM) FY2024 results: revenue $4.7 billion, up 0.8% on the year
Epam Systems, Inc. (EPAM) reported revenue of $4.7 billion for fiscal 2024, the year ended 31 December 2024, up 0.8% on the year before. Net income was $455 million, up 9.0%, and diluted earnings per share $7.84. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.
Revenue
$4.7 billion
+0.8% on the year
FY2017FY2024
Operating margin
11.5%
10.7% a year earlier
FY2017FY2024
Net income
$455 million
+9.0% on the year
FY2017FY2024
Diluted EPS
$7.84
+11.0% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
559
563
464
-0.6%
Capital expenditure
32.1
28.4
81.6
+13.1%
Free cash flow
527
534
382
-1.3%
Free cash flow margin
11.1%
11.4%
7.9%
Cash from investing
-885
-66.8
-183
Cash from financing
-390
-166
-2.0
Depreciation and amortisation
89.6
91.8
92.3
-2.4%
Share-based compensation
167
148
99.9
+13.2%
Buybacks
398
165
0.0
+141.3%
Diluted shares, weighted
58m
59m
59m
-1.9%
Shares outstanding at period end
57m
58m
58m
-1.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
3,629
3,471
3,002
+4.6%
Non-controlling interest
1.9
0.6
1.5
+235.1%
Short-term borrowings
n/a
n/a
2.9
Debt
25.2
26.1
27.7
-3.6%
Operating lease liabilities
98.4
109
122
-9.9%
Other liabilities
996
746
853
+33.6%
Total liabilities and equity
4,750
4,352
4,009
+9.1%
Fixed assets
208
235
273
-11.7%
Goodwill
1,182
562
529
+110.1%
Intangible assets
436
71.1
77.7
+513.7%
Investments
1.7
60.7
60.3
-97.2%
Cash and equivalents
1,286
2,036
1,681
-36.8%
Other assets
1,637
1,387
1,387
+18.0%
Total assets
4,750
4,352
4,009
+9.1%
10-K for the year ended 31 December 2024, filed 28 February 2025: the filing.