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Side-by-side financial comparison of EPAM Systems (EPAM) and Element Solutions Inc (ESI). Click either name above to swap in a different company.
EPAM Systems is the larger business by last-quarter revenue ($1.4B vs $840.0M, roughly 1.7× Element Solutions Inc). EPAM Systems runs the higher net margin — 7.8% vs 6.7%, a 1.1% gap on every dollar of revenue. On growth, Element Solutions Inc posted the faster year-over-year revenue change (41.0% vs 12.8%). EPAM Systems produced more free cash flow last quarter ($268.1M vs $-74.2M). Over the past eight quarters, Element Solutions Inc's revenue compounded faster (17.1% CAGR vs 9.9%).
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.
Element Solutions Inc is an American specialty chemicals production corporation listed on the New York Stock Exchange.
EPAM vs ESI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $840.0M |
| Net Profit | $109.4M | $56.0M |
| Gross Margin | 30.1% | 38.4% |
| Operating Margin | 10.6% | 13.3% |
| Net Margin | 7.8% | 6.7% |
| Revenue YoY | 12.8% | 41.0% |
| Net Profit YoY | 5.9% | -43.0% |
| EPS (diluted) | $1.97 | $0.23 |
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.
| Q1 26 | — | $840.0M | ||
| Q4 25 | $1.4B | $676.2M | ||
| Q3 25 | $1.4B | $656.1M | ||
| Q2 25 | $1.4B | $625.2M | ||
| Q1 25 | $1.3B | $593.7M | ||
| Q4 24 | $1.2B | $624.2M | ||
| Q3 24 | $1.2B | $645.0M | ||
| Q2 24 | $1.1B | $612.7M |
| Q1 26 | — | $56.0M | ||
| Q4 25 | $109.4M | $6.2M | ||
| Q3 25 | $106.8M | $39.3M | ||
| Q2 25 | $88.0M | $47.4M | ||
| Q1 25 | $73.5M | $98.0M | ||
| Q4 24 | $103.3M | $54.7M | ||
| Q3 24 | $136.3M | $40.3M | ||
| Q2 24 | $98.6M | $93.2M |
| Q1 26 | — | 38.4% | ||
| Q4 25 | 30.1% | 40.9% | ||
| Q3 25 | 29.5% | 42.2% | ||
| Q2 25 | 28.8% | 42.6% | ||
| Q1 25 | 26.9% | 42.2% | ||
| Q4 24 | 30.4% | 41.0% | ||
| Q3 24 | 34.6% | 41.5% | ||
| Q2 24 | 29.3% | 43.6% |
| Q1 26 | — | 13.3% | ||
| Q4 25 | 10.6% | 10.3% | ||
| Q3 25 | 10.4% | 15.4% | ||
| Q2 25 | 9.3% | 15.1% | ||
| Q1 25 | 7.6% | 13.0% | ||
| Q4 24 | 10.9% | 12.0% | ||
| Q3 24 | 15.2% | 14.7% | ||
| Q2 24 | 10.5% | 15.7% |
| Q1 26 | — | 6.7% | ||
| Q4 25 | 7.8% | 0.9% | ||
| Q3 25 | 7.7% | 6.0% | ||
| Q2 25 | 6.5% | 7.6% | ||
| Q1 25 | 5.6% | 16.5% | ||
| Q4 24 | 8.3% | 8.8% | ||
| Q3 24 | 11.7% | 6.2% | ||
| Q2 24 | 8.6% | 15.2% |
| Q1 26 | — | $0.23 | ||
| Q4 25 | $1.97 | $0.03 | ||
| Q3 25 | $1.91 | $0.16 | ||
| Q2 25 | $1.56 | $0.20 | ||
| Q1 25 | $1.28 | $0.40 | ||
| Q4 24 | $1.80 | $0.22 | ||
| Q3 24 | $2.37 | $0.17 | ||
| Q2 24 | $1.70 | $0.39 |
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 | $177.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.7B | $2.7B |
| Total Assets | $4.9B | $5.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $177.3M | ||
| Q4 25 | $1.3B | $626.5M | ||
| Q3 25 | $1.2B | $594.3M | ||
| Q2 25 | $1.0B | $529.9M | ||
| Q1 25 | $1.2B | $499.2M | ||
| Q4 24 | $1.3B | $359.4M | ||
| Q3 24 | $2.1B | $376.0M | ||
| Q2 24 | $1.8B | $309.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $1.9B |
| Q1 26 | — | $2.7B | ||
| Q4 25 | $3.7B | $2.7B | ||
| Q3 25 | $3.7B | $2.7B | ||
| Q2 25 | $3.7B | $2.6B | ||
| Q1 25 | $3.6B | $2.5B | ||
| Q4 24 | $3.6B | $2.4B | ||
| Q3 24 | $3.6B | $2.4B | ||
| Q2 24 | $3.4B | $2.4B |
| Q1 26 | — | $5.7B | ||
| Q4 25 | $4.9B | $5.1B | ||
| Q3 25 | $4.8B | $5.0B | ||
| Q2 25 | $4.7B | $5.0B | ||
| Q1 25 | $4.7B | $4.8B | ||
| Q4 24 | $4.8B | $4.9B | ||
| Q3 24 | $4.5B | $5.1B | ||
| Q2 24 | $4.2B | $5.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.64× | ||
| Q4 24 | — | 0.76× | ||
| Q3 24 | — | 0.78× | ||
| Q2 24 | — | 0.81× |
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 | — |
| Free Cash FlowOCF − Capex | $268.1M | $-74.2M |
| FCF MarginFCF / Revenue | 19.0% | -8.8% |
| Capex IntensityCapex / Revenue | 1.1% | 3.0% |
| Cash ConversionOCF / Net Profit | 2.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | $612.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $282.9M | — | ||
| Q3 25 | $294.7M | $100.1M | ||
| Q2 25 | $53.2M | — | ||
| Q1 25 | $24.2M | $26.0M | ||
| Q4 24 | $130.3M | — | ||
| Q3 24 | $242.0M | $98.5M | ||
| Q2 24 | $57.0M | — |
| Q1 26 | — | $-74.2M | ||
| Q4 25 | $268.1M | — | ||
| Q3 25 | $286.4M | $83.6M | ||
| Q2 25 | $43.4M | — | ||
| Q1 25 | $14.8M | $15.0M | ||
| Q4 24 | $114.5M | — | ||
| Q3 24 | $237.0M | $85.9M | ||
| Q2 24 | $52.3M | — |
| Q1 26 | — | -8.8% | ||
| Q4 25 | 19.0% | — | ||
| Q3 25 | 20.5% | 12.7% | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 1.1% | 2.5% | ||
| Q4 24 | 9.2% | — | ||
| Q3 24 | 20.3% | 13.3% | ||
| Q2 24 | 4.6% | — |
| Q1 26 | — | 3.0% | ||
| Q4 25 | 1.1% | 2.5% | ||
| Q3 25 | 0.6% | 2.5% | ||
| Q2 25 | 0.7% | 2.8% | ||
| Q1 25 | 0.7% | 1.9% | ||
| Q4 24 | 1.3% | 3.6% | ||
| Q3 24 | 0.4% | 2.0% | ||
| Q2 24 | 0.4% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.59× | — | ||
| Q3 25 | 2.76× | 2.55× | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.33× | 0.27× | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.77× | 2.44× | ||
| Q2 24 | 0.58× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EPAM
Segment breakdown not available.
ESI
| Electronics ex-Metals | $377.8M | 45% |
| Pass-through Metals | $255.7M | 30% |
| Other | $206.5M | 25% |
