How does EPAM Systems (EPAM) make money?

EPAM Systems (EPAM) generates revenue primarily from Financial Services Sector, which accounted for 27.9% of total revenue in TTM through Q1 2026. The company reported $5.56B in revenue and converted 7% of it into net profit, equivalent to roughly $387M in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of EPAM Systems (EPAM)?

EPAM Systems (EPAM) reported a gross profit margin of 27.9% in TTM through Q1 2026, equivalent to $1.55B in gross profit on $5.56B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of EPAM Systems (EPAM)?

EPAM Systems (EPAM) reported an operating profit margin of 9.9% in TTM through Q1 2026, equivalent to $550M in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of EPAM Systems (EPAM)?

EPAM Systems (EPAM) reported a net profit margin of 7% in TTM through Q1 2026, equivalent to $387M in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is EPAM Systems (EPAM) profitable?

Yes. EPAM Systems (EPAM) reported $387M in net income for TTM through Q1 2026, with a net profit margin of 7%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does EPAM Systems (EPAM) spend on capital expenditures?

EPAM Systems (EPAM) spent $50.8M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 0.9% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does EPAM Systems (EPAM) generate?

EPAM Systems (EPAM) generated $544M in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 9.8%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of EPAM Systems (EPAM)?

EPAM Systems (EPAM) had an effective tax rate of 27.3% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of EPAM Systems (EPAM)?

EPAM Systems (EPAM) reports revenue across 6 reportable product segments, led by Financial Services at 27.9% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does EPAM Systems (EPAM) generate most of its revenue?

UNITED STATES is the largest geographic market for EPAM Systems (EPAM), accounting for 51.4% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How EPAM Systems Makes Money: 2026 Visual Revenue Map

EPAM Systems (EPAM) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 7, 2026).

EPAM Systems (EPAM) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for EPAM Systems (EPAM), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Financial Services	$1.55B	27.9%
Software & Hi-Tech	$964M	17.4%
Consumer Goods, Retail & Travel	$936M	16.9%
Emerging Vertical Sector	$804M	14.5%
Healthcare	$726M	13.1%
Business Information and Media Sectors	$576M	10.4%
Total	$5.56B	100%

Financial Services$1.55B
Software & Hi-Tech$964M
Consumer Goods, Retail & Travel$936M
Emerging Vertical Sector$804M
Healthcare$726M
Business Information and Media Sectors$576M
Total$5.56B

EPAM Systems (EPAM) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for EPAM Systems (EPAM), TTM through Q1 2026
Region	Revenue (USD)	% of total
UNITED STATES	$2.86B	51.4%
Other Countries	$1.15B	20.7%
UNITED KINGDOM	$611M	11%
SWITZERLAND	$448M	8.1%
NETHERLANDS	$246M	4.4%
GERMANY	$244M	4.4%
Total	$5.56B	100%

UNITED STATES
Other Countries
UNITED KINGDOM
SWITZERLAND
NETHERLANDS
GERMANY
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, EPAM Systems (EPAM) reports revenue across 6 reportable product segments; the largest segment was Financial Services at 27.9%, followed by Software & Hi-Tech (17.4%) and Consumer Goods, Retail & Travel (16.9%). Geographically, UNITED STATES accounted for 51.4% of revenue, followed by Other Countries (20.7%) and UNITED KINGDOM (11%).

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