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Side-by-side financial comparison of EPAM Systems (EPAM) and Equity Residential (EQR). Click either name above to swap in a different company.
EPAM Systems is the larger business by last-quarter revenue ($1.4B vs $781.9M, roughly 1.8× Equity Residential). Equity Residential runs the higher net margin — 48.9% vs 7.8%, a 41.1% gap on every dollar of revenue. On growth, EPAM Systems posted the faster year-over-year revenue change (12.8% vs 2.0%). Over the past eight quarters, EPAM Systems's revenue compounded faster (9.9% CAGR vs 3.4%).
EPAM Systems, Inc. is an American company that specializes in software engineering services, digital platform engineering, and digital product design, operating out of Newtown, Pennsylvania. EPAM is a founding member of the MACH Alliance.
Equity Residential is a United States–based publicly traded real estate investment trust that invests in apartments.
EPAM vs EQR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $781.9M |
| Net Profit | $109.4M | $382.1M |
| Gross Margin | 30.1% | — |
| Operating Margin | 10.6% | 50.6% |
| Net Margin | 7.8% | 48.9% |
| Revenue YoY | 12.8% | 2.0% |
| Net Profit YoY | 5.9% | -8.8% |
| EPS (diluted) | $1.97 | $1.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.4B | $781.9M | ||
| Q3 25 | $1.4B | $782.4M | ||
| Q2 25 | $1.4B | $768.8M | ||
| Q1 25 | $1.3B | $760.8M | ||
| Q4 24 | $1.2B | $766.8M | ||
| Q3 24 | $1.2B | $748.3M | ||
| Q2 24 | $1.1B | $734.2M | ||
| Q1 24 | $1.2B | $730.8M |
| Q4 25 | $109.4M | $382.1M | ||
| Q3 25 | $106.8M | $289.1M | ||
| Q2 25 | $88.0M | $192.4M | ||
| Q1 25 | $73.5M | $256.6M | ||
| Q4 24 | $103.3M | $419.1M | ||
| Q3 24 | $136.3M | $143.4M | ||
| Q2 24 | $98.6M | $177.5M | ||
| Q1 24 | $116.2M | $295.8M |
| Q4 25 | 30.1% | — | ||
| Q3 25 | 29.5% | — | ||
| Q2 25 | 28.8% | — | ||
| Q1 25 | 26.9% | — | ||
| Q4 24 | 30.4% | — | ||
| Q3 24 | 34.6% | — | ||
| Q2 24 | 29.3% | — | ||
| Q1 24 | 28.4% | — |
| Q4 25 | 10.6% | 50.6% | ||
| Q3 25 | 10.4% | 38.5% | ||
| Q2 25 | 9.3% | 26.6% | ||
| Q1 25 | 7.6% | 35.7% | ||
| Q4 24 | 10.9% | 57.2% | ||
| Q3 24 | 15.2% | 20.1% | ||
| Q2 24 | 10.5% | 25.3% | ||
| Q1 24 | 9.5% | 42.0% |
| Q4 25 | 7.8% | 48.9% | ||
| Q3 25 | 7.7% | 36.9% | ||
| Q2 25 | 6.5% | 25.0% | ||
| Q1 25 | 5.6% | 33.7% | ||
| Q4 24 | 8.3% | 54.7% | ||
| Q3 24 | 11.7% | 19.2% | ||
| Q2 24 | 8.6% | 24.2% | ||
| Q1 24 | 10.0% | 40.5% |
| Q4 25 | $1.97 | $1.01 | ||
| Q3 25 | $1.91 | $0.76 | ||
| Q2 25 | $1.56 | $0.50 | ||
| Q1 25 | $1.28 | $0.67 | ||
| Q4 24 | $1.80 | $1.10 | ||
| Q3 24 | $2.37 | $0.38 | ||
| Q2 24 | $1.70 | $0.47 | ||
| Q1 24 | $1.97 | $0.77 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $55.9M |
| Total DebtLower is stronger | — | $8.2B |
| Stockholders' EquityBook value | $3.7B | $11.0B |
| Total Assets | $4.9B | $20.7B |
| Debt / EquityLower = less leverage | — | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $55.9M | ||
| Q3 25 | $1.2B | $93.1M | ||
| Q2 25 | $1.0B | $31.3M | ||
| Q1 25 | $1.2B | $39.8M | ||
| Q4 24 | $1.3B | $62.3M | ||
| Q3 24 | $2.1B | $28.6M | ||
| Q2 24 | $1.8B | $38.3M | ||
| Q1 24 | $2.0B | $44.5M |
| Q4 25 | — | $8.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $8.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.7B | $11.0B | ||
| Q3 25 | $3.7B | $11.1B | ||
| Q2 25 | $3.7B | $11.0B | ||
| Q1 25 | $3.6B | $11.0B | ||
| Q4 24 | $3.6B | $11.0B | ||
| Q3 24 | $3.6B | $10.9B | ||
| Q2 24 | $3.4B | $11.0B | ||
| Q1 24 | $3.5B | $11.1B |
| Q4 25 | $4.9B | $20.7B | ||
| Q3 25 | $4.8B | $21.1B | ||
| Q2 25 | $4.7B | $21.0B | ||
| Q1 25 | $4.7B | $20.6B | ||
| Q4 24 | $4.8B | $20.8B | ||
| Q3 24 | $4.5B | $20.9B | ||
| Q2 24 | $4.2B | $19.8B | ||
| Q1 24 | $4.4B | $19.9B |
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $282.9M | $387.0M |
| Free Cash FlowOCF − Capex | $268.1M | — |
| FCF MarginFCF / Revenue | 19.0% | — |
| Capex IntensityCapex / Revenue | 1.1% | — |
| Cash ConversionOCF / Net Profit | 2.59× | 1.01× |
| TTM Free Cash FlowTrailing 4 quarters | $612.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.9M | $387.0M | ||
| Q3 25 | $294.7M | $476.7M | ||
| Q2 25 | $53.2M | $359.5M | ||
| Q1 25 | $24.2M | $425.5M | ||
| Q4 24 | $130.3M | $354.2M | ||
| Q3 24 | $242.0M | $401.4M | ||
| Q2 24 | $57.0M | $396.9M | ||
| Q1 24 | $129.9M | $421.0M |
| Q4 25 | $268.1M | — | ||
| Q3 25 | $286.4M | — | ||
| Q2 25 | $43.4M | — | ||
| Q1 25 | $14.8M | — | ||
| Q4 24 | $114.5M | — | ||
| Q3 24 | $237.0M | — | ||
| Q2 24 | $52.3M | — | ||
| Q1 24 | $123.2M | — |
| Q4 25 | 19.0% | — | ||
| Q3 25 | 20.5% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | 9.2% | — | ||
| Q3 24 | 20.3% | — | ||
| Q2 24 | 4.6% | — | ||
| Q1 24 | 10.6% | — |
| Q4 25 | 1.1% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | 0.6% | — |
| Q4 25 | 2.59× | 1.01× | ||
| Q3 25 | 2.76× | 1.65× | ||
| Q2 25 | 0.60× | 1.87× | ||
| Q1 25 | 0.33× | 1.66× | ||
| Q4 24 | 1.26× | 0.85× | ||
| Q3 24 | 1.77× | 2.80× | ||
| Q2 24 | 0.58× | 2.24× | ||
| Q1 24 | 1.12× | 1.42× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
