EPAM Systems entered a $500 million accelerated share repurchase with UBS on November 9, 2026. It is funded by cash on hand and existing credit facility borrowings; UBS is expected to deliver 2,550,695 shares, worth $400 million, by November 10, 2026.
EPAM · EPAM Systems, Inc.
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EPAM Systems, Inc. established a shelf registration allowing it to offer common stock, preferred stock, debt securities, warrants, purchase contracts and units from time to time, with proceeds generally for corporate purposes.
EPAM Systems reported revenue of $4.241 billion for the nine months ended September 30, 2026, up 4.7%, while operating margin rose to 10.5% and diluted earnings per share increased to $6.00 from $4.75, helped by operating income and share repurchases.
EPAM reported third-quarter revenue of $1.426 billion, up 2.3%, and GAAP diluted EPS of $2.53. Its board authorized up to $1.8 billion in repurchases, and the company plans a $500 million accelerated repurchase.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Aug 6, 2026TL;DR. EPAM beat Q2 expectations on revenue, margins, and EPS, but lowered full-year 2026 revenue growth guidance to 3.2%-4.2% (organic constant currency 2%-3%) and pushed expected meaningful revenue from large AI-led deals from 2H26 into 1H27, citing a North America growth gap and demand shifting from task-based services to AI-led modernization.
- + Q2 revenue grew 4.5% YoY to $1.415B with organic constant currency growth of 3.4%, beating the high end of outlook
- + Full-year 2026 non-GAAP operating margin guidance raised to the high end of the prior 15%-16% range (now 15.5%-16.0%)
- + AI-native revenue reached more than $160M in Q2 (~11% of revenue), the sixth consecutive quarter of sequential double-digit growth, tracking to the $600M 2026 goal
- − Management expects more meaningful revenue contribution from large AI-led deals to slip from 2H 2026 into 1H 2027
- − North America growth now expected to run below expectations in 2H due to demand shifting from task-based services toward AI-led modernization and go-to-market capability gaps
- − Software & high-tech vertical declined 1.3% YoY due to project ramp-downs and business information & media declined 2.1% YoY
- − AI-native revenue scaling will take time; constraint is enterprise adoption motion, with AI-native only ~11% of business and growth expected to be uneven
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Americas segment operating profit as % of revenues | 18.8% | the three months ended June 30, 2026 filing | — |
| average number of production professionals | 1.6% | the three months ended June 30, 2026 compared to the three month filing | — |
| Consolidated revenues denominated in currencies other than the U.S. dollar | 40.1% | the three months ended June 30, 2026 filing | — |
| delivery professionals | 56,650 | Q2 2026 | — |
| Europe segment operating profit as % of revenues | 16.1% | the three months ended June 30, 2026 filing | — |
| Europe's segment operating profit (as a percentage of revenues) | 14.9% | the three months ended June 30, 2026 filing | — |
| Non-GAAP income from operations non-GAAP | $232.7M | Q2 2026 | — |
| Non-GAAP operating margin non-GAAP | 16.4% | Q2 2026 | — |
| Revenue growth (constant currency) non-GAAP | 3.4% | the three months ended June 30, 2026 filing | — |
| Revenue growth on an organic constant currency basis non-GAAP | 3.4% | Q2 2026 | — |
| Total headcount | 62,850 | Q2 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Information Technology Services — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
EPAM
this stock
EPAM Systems, Inc.
|
$8.32B | -20.4% | +25.0% | 20.4 | 12.6% |
|
IBM
International Business Machines Corp
|
$233.57B | -16.6% | +7.6% | 21.0 | 1.9% |
|
ACN
Accenture plc
|
$167.58B | -6.6% | +6.5% | 18.5 | 3.2% |
|
INFY
Infosys Ltd
|
$49.78B | -31.0% | — | — | 2.1% |
|
CTSH
Cognizant Technology Solutions Corp
|
$28.17B | -24.1% | +7.0% | 11.5 | 5.2% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 10, 2026
- This year
- 20
EPAM Systems entered a $500 million accelerated share repurchase with UBS on November 9, 2026. It is funded by cash on hand and existing credit facility borrowings; UBS is expected to deliver 2,550,695 shares, worth $400 million, by November 10, 2026.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| EPAM | +2.4% | +33.5% | +63.7% | +16.1% | -20.4% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -0.2% | +34.7% | +63.2% | +16.3% | -31.0% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.