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How EPAM SYSTEMS, INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$5.5B · 100%Cost of revenue$3.9B · 71%Gross profit$1.6B · 29%Operating income$520M · 10%Income before tax$506M · 9%Income tax$128M · 2%Net income$378M · 7%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$5.5B100%
  • 10-K · FY 2025Filing detailsAccession 0001352010-26-000015 · filed Feb 26, 2026
Cost of revenue$3.9B71%
  • 10-K · FY 2025Filing detailsAccession 0001352010-26-000015 · filed Feb 26, 2026
$1.6B29%
  • 10-K · FY 2025Filing detailsAccession 0001352010-26-000015 · filed Feb 26, 2026
$520M10%
  • 10-K · FY 2025Filing detailsAccession 0001352010-26-000015 · filed Feb 26, 2026
Income before tax$506M9%
  • 10-K · FY 2025Filing detailsAccession 0001352010-26-000015 · filed Feb 26, 2026
Income tax$128M2%
  • 10-K · FY 2025Filing detailsAccession 0001352010-26-000015 · filed Feb 26, 2026
$378M7%
  • 10-K · FY 2025Filing detailsAccession 0001352010-26-000015 · filed Feb 26, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001352010-26-000015 · filed Feb 26, 2026
· event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set
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EPAM income explainer — Buy Like Buffett · Buy Like Buffett