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Side-by-side financial comparison of EPAM Systems (EPAM) and F&G Annuities & Life, Inc. (FG). Click either name above to swap in a different company.
F&G Annuities & Life, Inc. is the larger business by last-quarter revenue ($1.8B vs $1.4B, roughly 1.3× EPAM Systems). EPAM Systems runs the higher net margin — 7.8% vs 7.3%, a 0.5% gap on every dollar of revenue. On growth, F&G Annuities & Life, Inc. posted the faster year-over-year revenue change (13.2% vs 12.8%). Over the past eight quarters, EPAM Systems's revenue compounded faster (9.9% CAGR vs 6.1%).
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.
F&G Annuities & Life, Inc. is a public company headquartered in Des Moines, Iowa. It primarily provides annuities, life insurance, and pension buyout services. The company was founded in 1959.
EPAM vs FG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.8B |
| Net Profit | $109.4M | $128.0M |
| Gross Margin | 30.1% | — |
| Operating Margin | 10.6% | — |
| Net Margin | 7.8% | 7.3% |
| Revenue YoY | 12.8% | 13.2% |
| Net Profit YoY | 5.9% | -60.9% |
| EPS (diluted) | $1.97 | $0.97 |
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 | $1.8B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $1.4B | $1.4B | ||
| Q1 25 | $1.3B | $908.0M | ||
| Q4 24 | $1.2B | $1.6B | ||
| Q3 24 | $1.2B | $1.4B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.2B | $1.6B |
| Q4 25 | $109.4M | $128.0M | ||
| Q3 25 | $106.8M | $118.0M | ||
| Q2 25 | $88.0M | $40.0M | ||
| Q1 25 | $73.5M | $-21.0M | ||
| Q4 24 | $103.3M | $327.0M | ||
| Q3 24 | $136.3M | $-6.0M | ||
| Q2 24 | $98.6M | $203.0M | ||
| Q1 24 | $116.2M | $115.0M |
| 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% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 9.3% | — | ||
| Q1 25 | 7.6% | — | ||
| Q4 24 | 10.9% | — | ||
| Q3 24 | 15.2% | — | ||
| Q2 24 | 10.5% | — | ||
| Q1 24 | 9.5% | — |
| Q4 25 | 7.8% | 7.3% | ||
| Q3 25 | 7.7% | 7.0% | ||
| Q2 25 | 6.5% | 2.9% | ||
| Q1 25 | 5.6% | -2.3% | ||
| Q4 24 | 8.3% | 21.0% | ||
| Q3 24 | 11.7% | -0.4% | ||
| Q2 24 | 8.6% | 17.3% | ||
| Q1 24 | 10.0% | 7.3% |
| Q4 25 | $1.97 | $0.97 | ||
| Q3 25 | $1.91 | $0.85 | ||
| Q2 25 | $1.56 | $0.26 | ||
| Q1 25 | $1.28 | $-0.20 | ||
| Q4 24 | $1.80 | $2.53 | ||
| Q3 24 | $2.37 | $-0.08 | ||
| Q2 24 | $1.70 | $1.55 | ||
| Q1 24 | $1.97 | $0.88 |
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 | $1.5B |
| Total DebtLower is stronger | — | $2.2B |
| Stockholders' EquityBook value | $3.7B | $4.8B |
| Total Assets | $4.9B | $98.4B |
| Debt / EquityLower = less leverage | — | 0.47× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $1.5B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $1.0B | $1.9B | ||
| Q1 25 | $1.2B | $3.3B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $2.1B | $3.5B | ||
| Q2 24 | $1.8B | $3.5B | ||
| Q1 24 | $2.0B | $2.4B |
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $1.7B |
| Q4 25 | $3.7B | $4.8B | ||
| Q3 25 | $3.7B | $4.8B | ||
| Q2 25 | $3.7B | $4.4B | ||
| Q1 25 | $3.6B | $4.4B | ||
| Q4 24 | $3.6B | $4.0B | ||
| Q3 24 | $3.6B | $4.3B | ||
| Q2 24 | $3.4B | $3.7B | ||
| Q1 24 | $3.5B | $3.5B |
| Q4 25 | $4.9B | $98.4B | ||
| Q3 25 | $4.8B | $96.1B | ||
| Q2 25 | $4.7B | $91.8B | ||
| Q1 25 | $4.7B | $88.0B | ||
| Q4 24 | $4.8B | $85.0B | ||
| Q3 24 | $4.5B | $84.1B | ||
| Q2 24 | $4.2B | $78.5B | ||
| Q1 24 | $4.4B | $74.4B |
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.46× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.55× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | 0.49× |
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 | $1.2B |
| Free Cash FlowOCF − Capex | $268.1M | — |
| FCF MarginFCF / Revenue | 19.0% | — |
| Capex IntensityCapex / Revenue | 1.1% | — |
| Cash ConversionOCF / Net Profit | 2.59× | 9.13× |
| TTM Free Cash FlowTrailing 4 quarters | $612.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.9M | $1.2B | ||
| Q3 25 | $294.7M | $937.0M | ||
| Q2 25 | $53.2M | $1.6B | ||
| Q1 25 | $24.2M | $956.0M | ||
| Q4 24 | $130.3M | $1.3B | ||
| Q3 24 | $242.0M | $2.1B | ||
| Q2 24 | $57.0M | $1.1B | ||
| Q1 24 | $129.9M | $1.5B |
| 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× | 9.13× | ||
| Q3 25 | 2.76× | 7.94× | ||
| Q2 25 | 0.60× | 40.50× | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 1.26× | 4.04× | ||
| Q3 24 | 1.77× | — | ||
| Q2 24 | 0.58× | 5.20× | ||
| Q1 24 | 1.12× | 13.34× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
