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EPAM Systems, Inc. cash flow statement

In fiscal 2025, EPAM Systems, Inc.'s operations generated $655m of cash; it spent $42.2m on capital projects, leaving free cash flow of $613m. It returned $662m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations2055485810576167193292287544572464563559655539
Depreciation and amortisation6811151717232937456383929290125126
Stock-based pay3371325464952597275112100148167177186
Capital spending8161313121329303899691128228324256
Free cash flow123935459363138163255188476461382534527613483
Free cash flow after stock pay9362832681789111195116400349283386360436297
Share buybacks———————————00165398662715

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

Compare with peers

Head to head: EPAM vs GEPAM vs ITEPAM vs SAIC

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Figures from EPAM Systems, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to EPAM Systems, Inc.