EPAM EPAM Systems

FY2025 10-K
Filed: Feb 26, 2026
Information Technology
Services-Computer Programming ServicesSEC EDGAR

EPAM Systems (EPAM) filed its fiscal year 2025 10-K annual report with the SEC on Feb 26, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.

AI Filing Analysis
FY2025 10-K

Business Overview

  • Global IT services firm delivering end-to-end digital engineering, cloud, and AI-enabled transformation; increasingly positioning as "AI-native" solutions provider
  • EPAM AI/RUN™ platform and DIALX Lab™ initiative highlighted as key AI delivery vehicles; "end-to-end AI-native transformation" cited as primary strategic focus this year
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Management Discussion & Analysis

  • Revenue $5.457B, up 15.4% YoY; organic growth ~5%, acquisitions (NEORIS, First Derivative) added 9.2%, FX tailwind +1.3%
  • Operating margin 9.5% vs 11.5%; net margin 6.9% vs 9.6%; cost of revenues rose to 71.2% vs 69.3% of revenue
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Risk Factors

  • ~14,100 personnel in Ukraine/Belarus as of Dec 31, 2025; ongoing Russia-Ukraine war threatens operations, facilities, and service delivery
  • OFAC sanctions and anti-bribery laws (FCPA equivalent) create compliance exposure across operations in Belarus, Ukraine, Kazakhstan, and other emerging markets
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Financial Summary
XBRL

Revenue

$5.5B

Net Income

$378M

Operating Margin

9.5%

Net Margin

6.9%

ROE

10.3%

Total Assets

$4.9B

EPS (Diluted)

$6.72

Operating Cash Flow

$655M

Source: XBRL data from EPAM Systems FY2025 10-K filing on SEC EDGAR. All figures in USD.

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