Filing Flows › Epam Systems (EPAM) › Q3 2026 › vs Q3 2025
Epam Systems (EPAM) Q3 2026 vs Q3 2025 (year over year)
Epam Systems's revenue rose $32.1M (+2%) from $1.4B in Q3 2025 to $1.4B in Q3 2026. The biggest changes: Europe +$35.1M (+6%); Americas −$3.1M (-0.4%). Operating margin 12.3% against 10.4% (+1.9 pts).
Epam Systems, Q3 2026: revenue $1.4B (+2% year over year), operating margin 12.3%, net earnings $130M, operating cash flow $289M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 12.3% | 10.4% | +1.9 pts |
| Net margin | 9.1% | 7.7% | +1.5 pts |
| Free cash flow margin | 19.2% | 20.5% | -1.3 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Americas | $797M | $800M | −$3.1M | -0.4% |
| Europe | $630M | $595M | $35.1M | +6% |
| Revenue | $1.4B | $1.4B | $32.1M | +2% |
| Operating profit | $176M | $145M | $31.0M | +21% |
| Costs & expenses | $1.3B | $1.2B | $1.1M | +0.1% |
| Pre-tax earnings | $176M | $144M | $32.7M | +23% |
| Cost of revenue | $980M | $983M | −$2.7M | -0.3% |
| SG&A | $237M | $235M | $2.4M | +1% |
| Other operating costs | $32.6M | $31.3M | $1.3M | +4% |
| Net earnings | $130M | $107M | $23.5M | +22% |
| Income tax | $46.0M | $36.8M | $9.2M | +25% |
| Depreciation & amortization | $32.6M | $31.3M | $1.3M | +4% |
| Share-based compensation | $42.5M | $44.6M | −$2.1M | -5% |
| Working capital & other | $83.4M | $112M | −$28.5M | -25% |
| Operating cash flow | $289M | $295M | −$5.8M | -2% |
| Free cash flow (OCF − capex) | $274M | $286M | −$12.2M | -4% |
| Capital expenditures | $14.7M | $8.3M | $6.4M | +77% |
Questions
How much did Epam Systems's revenue grow year over year in Q3 2026?
Epam Systems's revenue rose $32.1M (+2%) from $1.4B in Q3 2025 to $1.4B in Q3 2026.
What drove Epam Systems's revenue change in Q3 2026?
Europe +$35.1M (+6%); Americas −$3.1M (-0.4%).