Reading EPAM? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track EPAM free→Reading EPAM? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track EPAM free→NYSEInformation TechnologyInformation Technology ServicesSnapshot 2026-06-16
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
Recent financial performance is neutral. Earnings quality is also neutral. Management's recent track record has been fairly steady. Risk is elevated, but the sector backdrop is a tailwind. Compared with sector peers, EPAM is above typical. Peer multiples imply a price about 18% above where it trades (it looks cheap on this basis); the read is fair. If EPAM cuts guidance on the next call, that could be negative.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 8 valuation methods, at three horizons. Current price $93.35. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $93 EPAM trades at 8× p/e, below its 10× p/e peer median. Our $119 fair value sits above the price; high confidence. Analysts: $99–$235. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The price implies about 18% below a flat-multiple fair value, below our forecast of about 9%. This describes what's priced in, not a forecast of the move.
Only weak execution quality — not the full expensive x weak x turbulent stack. Regime (Mania) does not concentrate fragility.
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Information Technology names rated neutral grew net income 54% of the time over the next year (vs 68% for the rest of the cohort, n=3704).
Over the trailing year it converted 1.54x of net income into operating cash flow. Historically, Information Technology names rated neutral grew net income 62% of the time over the next year (vs 58% for the rest of the cohort, n=2831).
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, long-term interest rates, real (inflation-adjusted) rates, Fed net liquidity.
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $3.12 → $3.14 (+0.9% / 30d). 11 raised, 4 cut, 16 covering analysts.
0 upgrades, 1 downgrade / 30d, 0 maintained. 58% of analysts rate Buy.
2 PT revisions / 30d. Avg target 6.1% above current price.
0 positive, 0 negative / 30d.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$170.
How much price usually moves either way.
On a bad day, this stock has moved -$468.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $5,949.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-16
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: Earnings results will show if the company can recover after the recent earnings miss.
Confirms one read:Q2 earnings are better than expected. This shows signs of recovery.
Confirms the other:Q2 earnings fall short again. This shows ongoing challenges.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for EPAM yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On May 21, 2026, EPAM Systems, Inc. (the “Company”) held its 2026 Annual Meeting of Stockholders (the “Annual Meeting”). Among other matters, the Company’s stockholders approved an amendment to the EPAM Systems, Inc. 2025 Long Term Incentive Plan (the “2025 Plan”) to increase the number of shares of the Company’s common stock available for issuance…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
$99.00 – $235.00 (median $146.00) · 11 analysts · as of 2026-06-15
Looks cheaper than most peers in the same business.
Cheaper than its own typical valuation.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus IT Consulting & Other Services.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
EPAM EPAM Systems | Above typical Show detailsSector percentile: 86 of 100 | fair | elevated |
IBM IBM | Typical Show detailsSector percentile: 37 of 100 | expensive | moderate |
ACN Accenture | Above typical Show detailsSector percentile: 98 of 100 | full | elevated |
CTSH Cognizant | Above typical Show detailsSector percentile: 92 of 100 | fair | elevated |
APLD APPLIED DIGITAL CORPORATION | Below typical Show detailsSector percentile: 22 of 100 | expensive | high |
14 material management or governance events in the past 24 months, led by executive changes. Historically, Information Technology names rated neutral grew net income 64% of the time over the next year (vs 57% for the rest of the cohort, n=1040).
Not investment advice. As of 2026-06-16.
via XLK
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-16.
Met or beat guidance 100% of the last 8 guided quarters · 44.2% avg surprise
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
EPAM aims to become a global leader in AI-native enterprise transformation services.
EPAM focuses on executing a clear strategy to drive its next phase of profitable growth.
EPAM is enhancing its internal and client-facing AI capabilities to capitalize on global AI transformation.
Why it matters: Meeting or exceeding this guidance shows strong demand and execution in a tough market.
Confirms:Q2 revenues reported at or above $1.415 billion.
Disproves:Q2 revenues were less than $1.400 billion.
Why it matters: Better AI can help a company compete. It can also support growth.
Confirms:Management says AI capabilities have improved a lot. The score is now 66.0.
Disproves:No change in AI capabilities. The score stays at 66.0 or lower.
Why it matters: Positive cash flow shows better efficiency. It also means better financial health.
Confirms:Cash flow from operations reported as positive for Q2.
Disproves:Cash flow from operations remains negative or worsens.
Why it matters: A lower EPS than expected may show profit problems. This can affect investor trust.
Confirms:Q2 GAAP diluted EPS is below $1.79. This shows weaker profits.
Disproves:Q2 GAAP diluted EPS at or above $1.79, suggesting stable earnings.
Why it matters: Negative cash flow from operations may show bigger financial problems. This could hurt growth.
Confirms:Cash flow from operations remains negative for the next quarter.
Disproves:Cash flow from operations is now positive. This shows better financial health.
Why it matters: Progress in AI is key for EPAM's growth and staying ahead of competitors.
Confirms:Management announces a new AI project or partnership. This will make skills better.
Disproves:No new updates on AI skills in the next quarterly report.
Why it matters: This range shows strong profits and good cost control.
Confirms:GAAP diluted EPS reported within the range of $1.79 to $1.87.
Disproves:GAAP diluted EPS reported below $1.75.
Results of Operations and Financial Condition. On May 7, 2026, EPAM Systems, Inc. (the “Company” or “EPAM”) issued a press release and an infographic discussing its results of operations for the first quarter ended March 31, 2026. A copy of the press release and the infographic are attached as Exhibits 99.1 and 99.2, respectively, to this report and are incorporated by reference into this
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Effective March 31, 2026, the Board of Directors of EPAM Systems, Inc. (the “Company”) approved a grant of restricted stock units valued at $3,000,000 (the “RSU Grant”) under the EPAM Systems, Inc. 2025 Long Term Incentive Plan to Viktar Dvorkin, the Company’s Senior Vice President, Global Head of Advanced Engineering, Cloud & Enterprise Platforms.…
of this report under the share repurchase authorization approved by the Board in October 2025. A copy of the press release announcing the ASR Transaction is attached to this report as Exhibit 99.1 and is incorporated herein by reference. The information in this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), or otherwise subject to the liabilities of that section, or incorporat…
of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise be subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, except as expressly stated by specific reference in such a filing.