EPAM Systems, Inc. Financial Ratios — EPAM Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	72.56	53.53	38.74	30.84	27.88	25.15	15.11	37.59	29.33	27.62	30.32	20.57	17.56	17.98	15.66
Return on Assets (%)	21.82	18.58	15.82	13.56	12.31	11.65	6.69	16.79	13.54	13.18	15.43	11.14	9.98	9.99	7.83
Return on Capital (%)	72.61	53.53	38.74	30.84	26.36	23.37	14.36	36.17	25.24	22.57	26.18	18.57	16.31	16.85	14.71
Return on Invested Capital (%)	54.23	27.14	17.96	16.17	14.5	13.93	7.72	19.92	16.38	15.65	19.18	15.59	11.74	11.16	9.99
Gross Margin (%)	38.62	37.68	37.37	37.46	37.98	36.46	36.48	35.6	35.12	34.85	33.91	31.88	30.57	30.68	28.83
EBITDA Margin (%)	19.2	17.72	16.5	14.51	13.5	13.54	13.89	15.32	17.61	19.12	18.29	14.78	14.07	14.21	12.57
Operating Margin (%)	16.95	15.22	13.78	12.11	11.59	11.52	11.92	13.34	13.2	14.26	14.43	11.88	11.24	11.52	9.53
Incremental Operating Margin (%)	21.22	9.37	8.64	6.82	9.53	11.27	13.52	18.55	12.66	20.91	14.84	2.87	34.14	46.59	-3.37
Pretax Margin (%)	15.78	15.18	13.83	11.91	11.6	10.9	12.02	13.55	13.06	14.23	14.19	10.51	11.44	12.36	9.27
Profit Margin (%)	13.26	12.56	11.17	9.54	9.24	8.56	5.02	13.04	11.38	12.3	12.82	8.69	8.89	9.61	6.92
Net Income to Common Margin (%)	13.26	12.56	11.17	9.54	9.24	8.56	5.02	13.04	11.38	12.3	12.82	8.69	8.89	9.61	6.92
Effective Tax Rate (%)	15.99	17.28	19.25	19.91	20.38	21.51	58.26	3.81	12.84	13.56	9.7	17.32	22.27	22.22	25.3
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	72.56	53.53	38.74	30.84	27.88	25.15	15.11	37.59	29.33	27.62	30.32	20.57	17.56	17.98	15.66

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	- -	- -	- -	35	25	25	25	263	266	239	190	172	163	144
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	58	61	66	40	37	40	37
LT Debt	- -	- -	- -	- -	35	25	25	25	206	206	173	150	135	124	107
Total Debt/EBITDA	- -	- -	- -	- -	0.28	0.16	0.12	0.09	0.65	0.52	0.35	0.27	0.26	0.24	0.21
Net Debt/EBITDA	-1.38	-1.54	-1.85	-2.08	-1.33	-2.15	-2.77	-2.64	-2.26	-2.55	-2.04	-2.32	-3.05	-1.88	-1.85
Total Debt/EBIT	- -	- -	- -	- -	0.33	0.19	0.14	0.1	0.87	0.7	0.44	0.33	0.33	0.3	0.28
Net Debt/EBIT	-1.57	-1.79	-2.21	-2.49	-1.55	-2.52	-3.22	-3.03	-3.01	-3.42	-2.58	-2.88	-3.81	-2.32	-2.44
EBITDA to Interest Expense	1,736.3	- -	- -	- -	- -	- -	- -	- -	- -	- -	398.07	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	1,274.32	- -	- -	- -	- -	- -	- -	- -	- -	- -	333.51	- -	- -	- -	- -
EBIT to Interest Expense	1,532.57	- -	- -	- -	- -	- -	- -	- -	- -	- -	314.02	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	- -	- -	- -	- -
Common Equity/Total Assets	31.63	36.78	44.13	43.88	44.33	48	41.5	47.13	45.48	49.53	51.93	56.1	57.47	53.8	46.27
Long-Term Debt/Equity (%)	- -	- -	- -	- -	5.71	3.21	2.57	1.98	12.9	10.37	6.93	5	3.9	3.4	2.9
Long-Term Debt/Capital (%)	- -	- -	- -	- -	9.21	5.34	4.6	3.19	16.04	12.74	8.33	6.15	5.06	4.54	4.42
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	4.5	2.71	2	1.55	9.18	7.56	4.91	3.74	3.11	2.6	2.17
Total Debt/Equity (%)	- -	- -	- -	- -	5.71	3.21	2.57	1.98	16.51	13.43	9.58	6.34	4.95	4.5	3.91
Total Debt/Capital (%)	- -	- -	- -	- -	9.21	5.34	4.6	3.19	20.52	16.5	11.51	7.8	6.43	6	5.96
Total Debt/Total Assets (%)	- -	- -	- -	- -	4.5	2.71	2	1.55	11.74	9.79	6.79	4.75	3.95	3.44	2.93
Net Debt to Equity	-93.41	-41.26	-44.99	-47.52	-26.82	-43.12	-57.19	-59.05	-57.1	-65.41	-56.11	-54.97	-57.9	-34.73	-34.56
Net Debt/Capital (%)	622.21	-1,081.22	-775.29	-549.8	-91.03	-313.78	1,441.49	-5,303.24	-262.25	-443.92	-221.98	-217.35	-315.33	-87.89	-113.85
EBITDA	64	77	92	106	123	157	202	282	404	509	687	713	660	672	686
EBITDA-CapEx	47	50	76	90	105	128	172	245	305	440	576	631	631	640	644
Operating Income (Loss)	57	66	76	88	106	134	173	246	303	379	542	573	527	545	520

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	1.67	2.01	3.12	1.76	1.8	3.12	3.22	2.93	2.42	2.97	1.89	2.33	3.25	1.57	1.33
Current Ratio	3.46	4.23	6.05	3.31	4.14	5.56	5.31	4.56	3.81	4.11	2.97	3.69	4.79	2.96	2.59
Quick Ratio	3.28	3.98	5.82	3.25	3.99	5.46	5.17	4.46	3.71	4.04	2.9	3.58	4.64	2.79	2.46
CFO/Avg Current Liab	1.23	0.86	1.02	1.16	0.6	1.37	1.3	1.32	0.88	1.28	0.93	0.61	0.81	0.76	0.73
Common Equity/Total Assets	31.63	36.78	44.13	43.88	44.33	48	41.5	47.13	45.48	49.53	51.93	56.1	57.47	53.8	46.27
Long-Term Debt/Equity (%)	- -	- -	- -	- -	5.71	3.21	2.57	1.98	12.9	10.37	6.93	5	3.9	3.4	2.9
Long-Term Debt/Capital (%)	- -	- -	- -	- -	9.21	5.34	4.6	3.19	16.04	12.74	8.33	6.15	5.06	4.54	4.42
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	4.5	2.71	2	1.55	9.18	7.56	4.91	3.74	3.11	2.6	2.17
Total Debt/Equity (%)	- -	- -	- -	- -	5.71	3.21	2.57	1.98	16.51	13.43	9.58	6.34	4.95	4.5	3.91
Total Debt/Capital (%)	- -	- -	- -	- -	9.21	5.34	4.6	3.19	20.52	16.5	11.51	7.8	6.43	6	5.96
Total Debt/Total Assets (%)	- -	- -	- -	- -	4.5	2.71	2	1.55	11.74	9.79	6.79	4.75	3.95	3.44	2.93
CFO/Total Liabilities	38.79	75.15	102.55	80.69	46.21	115.8	70.04	83.68	44.36	73.74	55.71	46.13	63.87	49.96	53.49
CFO/CapEx	3.19	1.79	3.66	6.62	4.25	5.7	6.47	7.78	2.89	7.91	5.13	5.69	19.8	17.39	15.5
Altman's Z-Score	3.46	10.18	20.44	13.95	17.52	17.18	15.58	14.18	13.77	19.29	25.49	14.81	15.17	11.02	9.33

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	6.63	6.27	6.37	6.64	6.11	6.19	6.23	5.52	5.1	5.33	5.92	5.67	5.13	4.98	5.17
Days Sales Outstanding	55.08	58.22	57.31	54.98	59.71	58.93	58.59	66.15	71.61	68.54	61.67	64.36	71.19	73.31	70.58
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	87.1	61.38	77.86	122.13	157.1	254.69	209.71	182.35	194.85	192.29	141.78	118.02	103.64	85.47	77.65
Accounts Payable Turnover Days	4.19	5.95	4.69	2.99	2.32	1.43	1.74	2	1.87	1.9	2.57	3.09	3.52	4.27	4.7
Cash Conversion Cycle	50.89	52.27	52.63	51.99	57.39	57.49	56.85	64.15	69.74	66.64	59.1	61.27	67.67	69.04	65.88
Inventory to Cash Days	55.08	58.22	57.31	54.98	59.71	58.93	58.59	66.15	71.61	68.54	61.67	64.36	71.19	73.31	70.58
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	727	1,599	2,253	3,830	3,235	5,595	6,221	11,609	19,970	37,775	18,777	17,195	13,395	11,451
- Cash & Cash Equivalents	89	118	169	221	199	362	583	771	937	1,322	1,447	1,681	2,036	1,286	1,296
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	9	1	1	2	1
+ Total Debt	- -	- -	- -	- -	35	25	25	25	263	266	239	190	172	163	144
Enterprise Value	-89	608	1,428	2,033	3,636	2,898	5,037	5,475	10,936	18,854	36,576	17,227	15,270	12,272	10,300
Total Capital	75	129	191	261	380	469	544	785	1,284	1,614	2,077	2,441	2,674	2,721	2,413
Total Debt/Capital (%)	- -	- -	- -	- -	9.21	5.34	4.6	3.19	20.52	16.5	11.51	7.8	6.43	6	5.96
Total Debt / EV	- -	- -	- -	- -	0.01	0.01	- -	- -	0.02	0.01	0.01	0.01	0.01	0.01	0.01
EV/Sales	- -	1.4	2.57	2.78	3.98	2.5	3.47	2.97	4.77	7.09	9.73	3.57	3.26	2.6	1.89
EV/EBITDA	- -	7.91	15.59	19.19	29.47	18.45	25	19.39	27.07	37.07	53.2	24.16	23.14	18.27	15.01
EV/EBIT	- -	9.22	18.67	22.99	34.31	21.68	29.13	22.28	36.11	49.7	67.44	30.07	28.97	22.54	19.81
EV/Cash Flow to Firm	- -	12.54	24.53	19.38	47.59	17.33	26.12	18.74	38.04	34.63	63.73	37.12	27.14	21.95	15.73
EV/Free Cash Flow to Firm	- -	8.05	19.26	16.84	38.53	14.75	22.63	16.6	28.28	30.75	53.37	31.57	25.84	20.75	14.77
Diluted Market Cap	- -	793	1,690	2,374	4,087	3,422	5,907	6,575	12,235	20,944	39,481	19,392	17,568	13,558	11,521
Diluted Enterprise Value	-89	675	1,520	2,154	3,923	3,085	5,349	5,829	11,562	19,888	38,283	17,903	15,705	12,437	10,369
EV per Share	- -	15.14	31.22	43.08	74.63	57.6	96.72	102.11	199.86	338.33	647.24	300.69	264.06	214.22	184.27
TTM Sales	335	434	555	730	914	1,160	1,450	1,843	2,294	2,659	3,758	4,825	4,691	4,728	5,457
TTM EBITDA	64	77	92	106	123	157	202	282	404	509	687	713	660	672	686
TTM Operating Income	57	66	76	88	106	134	173	246	303	379	542	573	527	545	520
TTM Cash Flow to Firm	55	48	58	105	76	167	193	292	287	544	574	464	563	559	655
TTM Free Cash Flow to Firm	72	76	74	121	94	197	223	330	387	613	685	546	591	591	697

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	10.49	22.79	19.67	43.32	17.41	26.53	19.94	31.63	34.16	57.74	35.53	29.72	22.93	16.53
EV/EBIT	- -	9.22	18.67	22.99	34.31	21.68	29.13	22.28	36.11	49.7	67.44	30.07	28.97	22.54	19.81
Enterprise Value	-89	608	1,428	2,033	3,636	2,898	5,037	5,475	10,936	18,854	36,576	17,227	15,270	12,272	10,300
Low Price	- -	13.25	18.44	29.44	45.27	54.53	63.32	102.03	111.44	151.97	328.9	168.59	197.99	169.43	138.15
EV/Sales	- -	1.4	2.57	2.78	3.98	2.5	3.47	2.97	4.77	7.09	9.73	3.57	3.26	2.6	1.89
EV/EBITDA	- -	7.91	15.59	19.19	29.47	18.45	25	19.39	27.07	37.07	53.2	24.16	23.14	18.27	15.01
Price/Earnings	- -	13.35	25.79	32.36	45.35	32.59	76.89	25.89	44.47	61.04	78.43	44.77	41.23	29.47	30.32
Price/Earnings Average	- -	13.17	20.65	27.57	39.47	34.75	59.5	27.47	37.13	45.59	60.85	48.52	37.24	29.23	26.94
Price/Earnings High	- -	17.42	29.34	35.84	48.69	39.73	78.07	32.18	45.48	61.47	85.11	92.25	53.51	40.02	39.81
Price/Earnings Low	- -	9.77	13.61	19.95	26.12	27.64	45.32	22.77	23.36	25.89	38.59	23.03	27.45	21.35	20.44
Price/Book Value	- -	5.64	8.37	8.64	11.1	7.28	10.78	8.19	11.37	14.82	20.65	8.35	6.87	5.24	5.05
Price/Book Value Average	- -	5.56	6.7	7.37	9.66	7.76	8.34	8.69	9.5	11.07	16.02	9.05	6.21	5.2	4.49
Price/Book Value High	- -	7.36	9.52	9.58	11.92	8.88	10.95	10.18	11.63	14.92	22.41	17.2	8.92	7.12	6.63
Price/Book Value Low	- -	4.13	4.42	5.33	6.39	6.17	6.36	7.2	5.97	6.28	10.16	4.29	4.58	3.8	3.4
Price/Tangible Book Value	- -	2.95	4.7	6.28	8.5	5.21	6.9	5.99	8.63	11.62	20.27	7.84	6.06	6.65	5.56
Price/Tangible Book Value Average	- -	2.91	3.76	5.35	7.4	5.56	5.34	6.35	7.21	8.68	15.72	8.49	5.47	6.6	4.94
Price/Tangible Book Value High	- -	3.85	5.35	6.95	9.13	6.35	7	7.44	8.83	11.7	21.99	16.15	7.86	9.04	7.3
Price/Tangible Book Value Low	- -	2.16	2.48	3.87	4.9	4.42	4.07	5.27	4.53	4.93	9.97	4.03	4.03	4.82	3.75
Price/Sales	- -	1.68	2.88	3.09	4.19	2.79	3.86	3.38	5.06	7.51	10.05	3.89	3.67	2.83	2.1
Price/Sales Average	- -	1.65	2.31	2.63	3.65	2.97	2.98	3.58	4.23	5.61	7.8	4.22	3.31	2.81	1.86
Price/Sales High	- -	2.19	3.28	3.42	4.5	3.4	3.92	4.2	5.18	7.56	10.91	8.02	4.76	3.85	2.76
Price/Sales Low	- -	1.23	1.52	1.9	2.41	2.36	2.27	2.97	2.66	3.18	4.95	2	2.44	2.05	1.41
Price/Cash Flow	- -	15	27.46	21.49	50.14	19.35	29.01	21.29	40.39	36.68	66	40.46	30.56	23.96	17.48
Price/Cash Flow Average	- -	14.79	21.99	18.31	43.64	20.63	22.45	22.58	33.72	27.4	51.21	43.85	27.61	23.76	15.54
Price/Cash Flow High	- -	19.57	31.24	23.8	53.83	23.59	29.46	26.46	41.31	36.94	71.63	83.37	39.67	32.53	22.96
Price/Cash Flow Low	- -	10.98	14.49	13.25	28.87	16.41	17.1	18.72	21.21	15.56	32.48	20.81	20.35	17.36	11.79
Price/Free Cash Flow Average	- -	10.35	18.25	16.76	37.7	18.56	20.53	21.15	26.41	25.51	44.8	38.52	26.85	22.74	14.68
Price/Free Cash Flow High	- -	13.69	25.93	21.79	46.51	21.23	26.94	24.78	32.36	34.4	62.65	73.22	38.58	31.13	21.7
Price/Free Cash Flow Low	- -	7.68	12.03	12.13	24.94	14.76	15.64	17.53	16.62	14.48	28.41	18.28	19.79	16.61	11.14
EV/Sales Average	- -	1.38	2	2.33	3.47	2.68	2.6	3.18	3.93	5.21	7.48	3.91	2.91	2.57	1.65
EV/Sales High	- -	1.92	2.97	3.12	4.32	3.11	3.53	3.79	4.88	7.17	10.59	7.71	4.36	3.61	2.54
EV/Sales Low	- -	0.96	1.22	1.6	2.23	2.07	1.89	2.56	2.36	2.79	4.63	1.69	2.04	1.82	1.2
EV/EBITDA Average	-1.38	7.79	12.13	16.05	25.69	19.81	18.72	20.73	22.32	27.25	40.89	26.45	20.71	18.11	13.15
EV/EBITDA High	-1.38	10.81	18.01	21.48	32	22.96	25.42	24.74	27.72	37.47	57.89	52.17	31	25.41	20.24
EV/EBITDA Low	-1.38	5.39	7.36	11.04	16.55	15.32	13.6	16.73	13.43	14.58	25.29	11.46	14.53	12.78	9.58
EV/EBIT Average	-1.57	9.08	14.53	19.22	29.91	23.28	21.81	23.82	29.78	36.54	51.83	32.92	25.93	22.34	17.35
EV/EBIT High	-1.57	12.59	21.57	25.73	37.26	26.98	29.62	28.43	36.99	50.24	73.38	64.93	38.8	31.34	26.7
EV/EBIT Low	-1.57	6.28	8.82	13.22	19.26	18	15.84	19.23	17.91	19.54	32.06	14.26	18.18	15.76	12.63
Last Price	- -	18.1	34.94	47.75	78.62	64.31	107.43	116.01	212.16	358.35	668.45	327.74	297.34	233.82	204.88
High Price	- -	23.61	39.76	52.89	84.41	78.4	109.07	144.19	217	360.89	725.4	675.34	385.96	317.5	269
Enterprise Value Average	-89	599	1,111	1,700	3,169	3,112	3,772	5,854	9,019	13,861	28,111	18,862	13,668	12,165	9,024
Enterprise Value High	-89	831	1,650	2,275	3,948	3,607	5,122	6,986	11,201	19,056	39,794	37,201	20,456	17,068	13,883
Enterprise Value Low	-89	414	674	1,169	2,041	2,406	2,740	4,726	5,425	7,413	17,388	8,169	9,586	8,585	6,570

Shares Outstanding	41	44	47	48	50	51	53	54	55	56	57	58	58	57	54
Diluted Weighted Avg Shares	41	44	48	50	52	53	55	57	58	58	59	59	59	58	56
Basic Weighted Avg Shares	41	40	46	47	49	50	52	54	55	56	57	57	58	57	56
Revenue per Share	8.13	10.79	12.13	15.47	18.76	23.06	27.85	34.37	41.92	47.72	66.5	84.21	81.11	82.53	97.63
EBITDA per Share	1.56	1.91	2	2.24	2.53	3.12	3.87	5.27	7.38	9.13	12.17	12.45	11.41	11.72	12.27
Operating Income per Share	1.38	1.64	1.67	1.87	2.17	2.66	3.32	4.58	5.53	6.81	9.6	10	9.12	9.51	9.3
Basic EPS, GAAP	1.08	1.36	1.35	1.48	1.73	1.97	1.4	4.48	4.77	5.87	8.52	7.32	7.21	7.93	6.76
Basic EPS from Cont Ops	1.08	1.36	1.35	1.48	1.73	1.97	1.4	4.48	4.77	5.87	8.52	7.32	7.21	7.93	6.76
Diluted EPS, GAAP	1.08	1.24	1.28	1.4	1.62	1.87	1.32	4.24	4.53	5.6	8.15	7.09	7.06	7.84	6.72
Diluted EPS from Cont Ops	1.08	1.24	1.28	1.4	1.62	1.87	1.32	4.24	4.53	5.6	8.15	7.09	7.06	7.84	6.72
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	1.33	1.21	1.27	2.22	1.57	3.32	3.7	5.45	5.25	9.77	10.13	8.1	9.73	9.76	11.72
Free Cash Flow per Basic Share	0.91	0.53	0.92	1.89	1.2	2.74	3.13	4.75	3.44	8.53	8.15	6.68	9.24	9.2	10.96
Cash & Equivalents per Share	2.16	2.96	3.72	4.67	4.71	7.2	11.19	14.37	17.12	24.8	25.6	30.4	36.26	22.48	23.19
Book Value per Share	1.81	3.21	4.18	5.52	7.08	8.83	9.96	14.17	18.65	24.19	32.38	39.26	43.25	44.61	40.58
Tangible Book Value per Share	2.08	6.14	7.43	7.61	9.25	12.34	15.57	19.37	24.58	30.85	32.98	41.83	49.07	35.14	36.87

EPAM Systems, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)