Question 1

What is EPAM Systems's P/B ratio?

Accepted Answer

EPAM Systems (EPAM) P/B ratio is 1.4× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for EPAM Systems?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For EPAM Systems specifically, the relevant sector benchmark is the current sector median of 5.6×.

Question 5

Is EPAM Systems's P/B ratio high or low?

Accepted Answer

EPAM Systems's P/B ratio of 1.4× is below its own 5-year average of 5.8× and below the sector median of 5.6×. That places the current reading at the 1th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is EPAM Systems's historical P/B ratio range?

Accepted Answer

In the available daily series, EPAM Systems (EPAM) P/B ratio has ranged from a low of 1.2× in 2026 to a high of 19.1× in 2021. The 5-year average is 5.8× and the 5-year median is 4.5×.

Question 7

What was EPAM Systems's P/B ratio in 2025?

Accepted Answer

EPAM Systems (EPAM) P/B ratio at the end of 2025 was 3.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does EPAM Systems's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$11.3B	$3.68B	3.1×	-0.6×	Dec 31, 2025
2024	$13.3B	$3.63B	3.7×	-1.3×	Dec 31, 2024
2023	$17.2B	$3.47B	4.9×	-1.3×	Dec 31, 2023
2022	$18.9B	$3B	6.3×	-9.0×	Dec 31, 2022
2021	$37.9B	$2.49B	15.3×	+5.1×	Dec 31, 2021
2020	$20.1B	$1.98B	10.1×	+2.8×	Dec 31, 2020
2019	$11.7B	$1.6B	7.3×	+2.4×	Dec 31, 2019
2018	$6.27B	$1.26B	5.0×	-0.8×	Dec 31, 2018
2017	$5.61B	$975M	5.8×	+1.6×	Dec 31, 2017
2016	$3.26B	$781M	4.2×	-2.2×	Dec 31, 2016
2015	$3.88B	$613M	6.3×	+1.4×	Dec 31, 2015
2014	$2.27B	$464M	4.9×	+0.6×	Dec 31, 2014
2013	$1.63B	$376M	4.3×	+1.6×	Dec 31, 2013
2012	$784M	$286M	2.7×	+0.2×	Dec 31, 2012
2011	$240M	$95.1M	2.5×	-1.1×	Dec 31, 2011
2010	$240M	$66.2M	3.6×	—	Dec 31, 2010


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P/B Ratio for EPAM Systems (EPAM) 2010-2026

P/B Ratio daily chart for EPAM Systems (EPAM)

Historical P/B Ratio for EPAM Systems (EPAM) from 2010 to 2025

About P/B Ratio at EPAM Systems (EPAM)

EPAM Systems P/B Ratio by Year

EPAM Systems P/B Ratio 2025: 3.1×

EPAM Systems P/B Ratio 2024: 3.7×

EPAM Systems P/B Ratio 2023: 4.9×

EPAM Systems P/B Ratio 2022: 6.3×

EPAM Systems P/B Ratio 2021: 15.3×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

EPAM Systems (EPAM) Key Financials