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EPAM Systems, Inc. (EPAM)

Income Statement Business | Product | Geographic | Customer

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15Dec-31-14
   10-K10-K10-K10-K10-K10-K10-K10-K
Revenues:  
    North America  2,242.21,601.81,380.91,099.2  471.6374.5
    Europe  1,350.5947.3820.7612.5  400.5299.3
    Financial Services  848.4555.2500.9424.0    
    Fixed-price  529.4352.0294.7184.3    
    Other        42.156.2
Total revenues  3,758.12,659.52,293.81,842.91,450.41,160.1914.1730.0
            Revenue growth   [+]41.3%15.9%24.5%27.1%25.0%26.9%25.2%31.5%
Cost of goods sold  2,483.71,732.51,488.21,186.9921.4737.2566.9456.5
Gross profit  1,274.4927.0805.6656.0529.1422.9347.2273.5
            Gross margin  33.9%34.9%35.1%35.6%36.5%36.5%38.0%37.5%
Selling, general and administrative  648.7484.8457.4373.6327.6265.9222.8163.7
EBITDA   [+]624.0446.0356.9285.9206.1157.1123.4105.9
            EBITDA margin  16.6%16.8%15.6%15.5%14.2%13.5%13.5%14.5%
Depreciation  65.850.535.428.121.015.212.012.1
EBITA  558.2395.5321.5257.8185.1141.9111.493.8
            EBITA margin  14.9%14.9%14.0%14.0%12.8%12.2%12.2%12.8%
Amortization of intangibles  17.612.39.98.57.68.25.45.3
EBIT   [+]540.6383.1311.6249.3177.5133.7106.088.4
            EBIT margin  14.4%14.4%13.6%13.5%12.2%11.5%11.6%12.1%
Non-recurring items   [+]-1.73.88.73.54.6  2.2
Interest income       4.84.74.8
Other income (expense), net   [+]-8.9-0.8-3.34.01.4-12.1-4.6-4.0
Pre-tax income  533.4378.5299.5249.8174.3126.5106.187.0
Income taxes  51.751.338.59.5101.527.221.617.3
            Tax rate  9.7%13.6%12.8%3.8%58.3%21.5%20.4%19.9%
Net income  481.7327.2261.1240.372.899.384.569.6
            Net margin  12.8%12.3%11.4%13.0%5.0%8.6%9.2%9.5%
   
Basic EPS   [+]$8.52$5.87$4.77$4.48$1.40$1.97$1.73$1.48
Diluted EPS   [+]$8.15$5.60$4.53$4.24$1.32$1.87$1.62$1.40
   
Shares outstanding (basic)   [+]56.555.754.753.652.150.348.747.2
Shares outstanding (diluted)   [+]59.158.457.756.755.053.252.049.7
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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