EPAM Systems annual free cash flow
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EPAM Systems Free Cash Flow (FCF) History (EPAM)
EPAM Systems reported $612.7M in free cash flow for fiscal 2025, an increase of 16.26% from the previous fiscal year, with a free cash flow margin of 11.23%.
View full EPAM Systems company overviewEPAM Systems free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $612.7M | $85.7M | +16.26% | +11.23% |
| 2024 | 2024-12-31 | $527.0M | −$7.2M | −1.35% | +11.15% |
| 2023 | 2023-12-31 | $534.2M | $151.7M | +39.67% | +11.39% |
| 2022 | 2022-12-31 | $382.5M | −$78.4M | −17.00% | +7.93% |
| 2021 | 2021-12-31 | $460.8M | −$14.8M | −3.11% | +12.26% |
| 2020 | 2020-12-31 | $475.6M | $287.5M | +152.79% | +17.88% |
| 2019 | 2019-12-31 | $188.1M | −$66.5M | −26.11% | +8.20% |
| 2018 | 2018-12-31 | $254.6M | $91.6M | +56.21% | +13.82% |
| 2017 | 2017-12-31 | $163.0M | $25.1M | +18.21% | +11.24% |
| 2016 | 2016-12-31 | $137.9M | $74.8M | +118.47% | +11.89% |
| 2015 | 2015-12-31 | $63.1M | −$29.8M | −32.10% | +6.91% |
| 2014 | 2014-12-31 | $93.0M | $48.1M | +107.19% | +12.73% |
| 2013 | 2013-12-31 | $44.9M | $9.7M | +27.74% | +8.08% |
| 2012 | 2012-12-31 | $35.1M | −$3.8M | −9.88% | +8.10% |
| 2011 | 2011-12-31 | $39.0M | $26.9M | +221.87% | +11.65% |
| 2010 | 2010-12-31 | $12.1M | — | — | +5.46% |
EPAM Systems quarterly free cash flow
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Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | −$17.6M | −$61.0M | — | −1.25% |
| Q1 2026 | 2026-03-31 | −$54.2M | −$69.0M | — | −3.87% |
| Q4 2025 | 2025-12-31 | $268.1M | $153.6M | +134.09% | +19.05% |
| Q3 2025 | 2025-09-30 | $286.4M | $49.4M | +20.84% | +20.54% |
| Q2 2025 | 2025-06-30 | $43.4M | −$9.0M | −17.12% | +3.20% |
| Q1 2025 | 2025-03-31 | $14.8M | −$108.3M | −87.96% | +1.14% |
| Q4 2024 | 2024-12-31 | $114.5M | −$46.8M | −29.03% | +9.17% |
| Q3 2024 | 2024-09-30 | $237.0M | $25.7M | +12.18% | +20.30% |
| Q2 2024 | 2024-06-30 | $52.3M | −$29.8M | −36.32% | +4.56% |
| Q1 2024 | 2024-03-31 | $123.2M | $43.8M | +55.09% | +10.57% |
| Q4 2023 | 2023-12-31 | $161.4M | −$3.2M | −1.94% | +13.94% |
| Q3 2023 | 2023-09-30 | $211.3M | −$22.4M | −9.59% | +18.34% |
| Q2 2023 | 2023-06-30 | $82.2M | $22.8M | +38.42% | +7.02% |
| Q1 2023 | 2023-03-31 | $79.4M | $154.5M | — | +6.56% |
| Q4 2022 | 2022-12-31 | $164.6M | −$63.4M | −27.82% | +13.37% |
| Q3 2022 | 2022-09-30 | $233.7M | $48.7M | +26.34% | +19.04% |
| Q2 2022 | 2022-06-30 | $59.4M | $13.1M | +28.36% | +4.97% |
| Q1 2022 | 2022-03-31 | −$75.1M | −$76.8M | — | −6.41% |
| Q4 2021 | 2021-12-31 | $228.0M | $87.0M | +61.76% | +20.59% |
| Q3 2021 | 2021-09-30 | $184.9M | $19.2M | +11.56% | +18.71% |
| Q2 2021 | 2021-06-30 | $46.2M | −$88.5M | −65.67% | +5.25% |
| Q1 2021 | 2021-03-31 | $1.6M | −$32.5M | −95.20% | +0.21% |
| Q4 2020 | 2020-12-31 | $140.9M | $63.4M | +81.70% | +19.48% |
| Q3 2020 | 2020-09-30 | $165.8M | $74.0M | +80.65% | +25.42% |
| Q2 2020 | 2020-06-30 | $134.7M | $102.3M | +315.40% | +21.30% |
| Q1 2020 | 2020-03-31 | $34.2M | $47.8M | — | +5.25% |
| Q4 2019 | 2019-12-31 | $77.6M | −$35.4M | −31.36% | +12.26% |
| Q3 2019 | 2019-09-30 | $91.8M | −$2.4M | −2.52% | +15.60% |
| Q2 2019 | 2019-06-30 | $32.4M | −$18.4M | −36.25% | +5.88% |
| Q1 2019 | 2019-03-31 | −$13.6M | −$10.2M | — | −2.61% |
| Q4 2018 | 2018-12-31 | $113.0M | $54.7M | +93.81% | +22.38% |
| Q3 2018 | 2018-09-30 | $94.1M | $37.3M | +65.71% | +20.11% |
| Q2 2018 | 2018-06-30 | $50.9M | $26.3M | +107.44% | +11.41% |
| Q1 2018 | 2018-03-31 | −$3.4M | −$26.8M | — | −0.80% |
| Q4 2017 | 2017-12-31 | $58.3M | $11.6M | +24.83% | +14.60% |
| Q3 2017 | 2017-09-30 | $56.8M | $1.4M | +2.50% | +15.05% |
| Q2 2017 | 2017-06-30 | $24.5M | −$6.6M | −21.13% | +7.03% |
| Q1 2017 | 2017-03-31 | $23.4M | $18.7M | +399.81% | +7.20% |
| Q4 2016 | 2016-12-31 | $46.7M | $38.6M | +476.73% | +14.90% |
| Q3 2016 | 2016-09-30 | $55.4M | $4.1M | +7.97% | +18.58% |
| Q2 2016 | 2016-06-30 | $31.1M | $32.4M | — | +10.95% |
| Q1 2016 | 2016-03-31 | $4.7M | −$322,000 | −6.44% | +1.77% |
| Q4 2015 | 2015-12-31 | $8.1M | −$36.9M | −81.98% | +3.11% |
| Q3 2015 | 2015-09-30 | $51.3M | $31.9M | +164.27% | +21.75% |
| Q2 2015 | 2015-06-30 | −$1.3M | −$15.9M | — | −0.60% |
| Q1 2015 | 2015-03-31 | $5.0M | −$9.0M | −64.38% | +2.50% |
| Q4 2014 | 2014-12-31 | $45.0M | $955,000 | +2.17% | +22.23% |
| Q3 2014 | 2014-09-30 | $19.4M | $5.8M | +42.35% | +10.08% |
| Q2 2014 | 2014-06-30 | $14.6M | $12.7M | +687.82% | +8.33% |
| Q1 2014 | 2014-03-31 | $14.0M | $28.7M | — | +8.75% |
| Q4 2013 | 2013-12-31 | $44.0M | $11.3M | +34.55% | +27.92% |
| Q3 2013 | 2013-09-30 | $13.6M | $6.4M | +89.41% | +9.74% |
| Q2 2013 | 2013-06-30 | $1.8M | −$1.4M | −43.83% | +1.39% |
| Q1 2013 | 2013-03-31 | −$14.6M | −$6.6M | — | −11.78% |
| Q4 2012 | 2012-12-31 | $32.7M | $9.0M | +38.15% | +26.05% |
| Q3 2012 | 2012-09-30 | $7.2M | −$4.3M | −37.60% | +6.54% |
| Q2 2012 | 2012-06-30 | $3.3M | −$6.4M | −66.15% | +3.17% |
| Q1 2012 | 2012-03-31 | −$8.1M | −$2.1M | — | −8.55% |
| Q4 2011 | 2011-12-31 | $23.7M | — | — | +24.88% |
| Q3 2011 | 2011-09-30 | $11.5M | — | — | +13.36% |
| Q2 2011 | 2011-06-30 | $9.7M | — | — | +12.12% |
| Q1 2011 | 2011-03-31 | −$6.0M | — | — | −8.18% |
EPAM Systems free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $475.6M to $612.7M, a compound annual growth rate of 5.20%. EPAM Systems's latest reported quarter, Q2 2026, generated −$17.6M in free cash flow, a decrease of $61.0M year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review EPAM Systems filings at SEC.gov ↗