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Side-by-side financial comparison of EPAM Systems (EPAM) and Invesco (IVZ). Click either name above to swap in a different company.
Invesco is the larger business by last-quarter revenue ($1.7B vs $1.4B, roughly 1.2× EPAM Systems). EPAM Systems runs the higher net margin — 7.8% vs -58.9%, a 66.6% gap on every dollar of revenue. On growth, EPAM Systems posted the faster year-over-year revenue change (12.8% vs 6.2%). Invesco produced more free cash flow last quarter ($432.2M vs $268.1M). Over the past eight quarters, EPAM Systems's revenue compounded faster (9.9% CAGR vs 7.1%).
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.
Invesco Ltd. is an American independent investment management company headquartered in Atlanta, Georgia, with branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York Stock Exchange. Invesco operates under the Invesco, Invesco Perpetual, and Powershares brand names.
EPAM vs IVZ — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.7B |
| Net Profit | $109.4M | $-995.9M |
| Gross Margin | 30.1% | — |
| Operating Margin | 10.6% | -86.2% |
| Net Margin | 7.8% | -58.9% |
| Revenue YoY | 12.8% | 6.2% |
| Net Profit YoY | 5.9% | -575.8% |
| EPS (diluted) | $1.97 | $-2.61 |
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 | $1.7B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | $1.2B | $1.6B | ||
| Q3 24 | $1.2B | $1.5B | ||
| Q2 24 | $1.1B | $1.5B | ||
| Q1 24 | $1.2B | $1.5B |
| Q4 25 | $109.4M | $-995.9M | ||
| Q3 25 | $106.8M | $356.4M | ||
| Q2 25 | $88.0M | $197.4M | ||
| Q1 25 | $73.5M | $171.1M | ||
| Q4 24 | $103.3M | $209.3M | ||
| Q3 24 | $136.3M | $55.0M | ||
| Q2 24 | $98.6M | $132.2M | ||
| Q1 24 | $116.2M | $141.5M |
| 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% | -86.2% | ||
| Q3 25 | 10.4% | 16.5% | ||
| Q2 25 | 9.3% | 14.1% | ||
| Q1 25 | 7.6% | 18.1% | ||
| Q4 24 | 10.9% | 19.6% | ||
| Q3 24 | 15.2% | 6.6% | ||
| Q2 24 | 10.5% | 13.9% | ||
| Q1 24 | 9.5% | 14.4% |
| Q4 25 | 7.8% | -58.9% | ||
| Q3 25 | 7.7% | 21.7% | ||
| Q2 25 | 6.5% | 13.0% | ||
| Q1 25 | 5.6% | 11.2% | ||
| Q4 24 | 8.3% | 13.1% | ||
| Q3 24 | 11.7% | 3.6% | ||
| Q2 24 | 8.6% | 8.9% | ||
| Q1 24 | 10.0% | 9.6% |
| Q4 25 | $1.97 | $-2.61 | ||
| Q3 25 | $1.91 | $0.66 | ||
| Q2 25 | $1.56 | $-0.03 | ||
| Q1 25 | $1.28 | $0.38 | ||
| Q4 24 | $1.80 | $0.46 | ||
| Q3 24 | $2.37 | $0.12 | ||
| Q2 24 | $1.70 | $0.29 | ||
| Q1 24 | $1.97 | $0.31 |
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 | $1.0B |
| Total DebtLower is stronger | — | $1.8B |
| Stockholders' EquityBook value | $3.7B | $12.2B |
| Total Assets | $4.9B | $27.1B |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $1.0B | ||
| Q3 25 | $1.2B | $973.1M | ||
| Q2 25 | $1.0B | $922.7M | ||
| Q1 25 | $1.2B | $821.7M | ||
| Q4 24 | $1.3B | $986.5M | ||
| Q3 24 | $2.1B | $1.0B | ||
| Q2 24 | $1.8B | $878.5M | ||
| Q1 24 | $2.0B | $895.7M |
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $964.8M | ||
| Q4 24 | — | $890.6M | ||
| Q3 24 | — | $890.3M | ||
| Q2 24 | — | $890.1M | ||
| Q1 24 | — | $1.3B |
| Q4 25 | $3.7B | $12.2B | ||
| Q3 25 | $3.7B | $14.0B | ||
| Q2 25 | $3.7B | $13.9B | ||
| Q1 25 | $3.6B | $14.7B | ||
| Q4 24 | $3.6B | $14.6B | ||
| Q3 24 | $3.6B | $14.8B | ||
| Q2 24 | $3.4B | $14.6B | ||
| Q1 24 | $3.5B | $14.6B |
| Q4 25 | $4.9B | $27.1B | ||
| Q3 25 | $4.8B | $28.4B | ||
| Q2 25 | $4.7B | $28.5B | ||
| Q1 25 | $4.7B | $28.1B | ||
| Q4 24 | $4.8B | $27.0B | ||
| Q3 24 | $4.5B | $27.5B | ||
| Q2 24 | $4.2B | $27.2B | ||
| Q1 24 | $4.4B | $28.1B |
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | 0.07× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.06× | ||
| Q1 24 | — | 0.09× |
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 | $455.8M |
| Free Cash FlowOCF − Capex | $268.1M | $432.2M |
| FCF MarginFCF / Revenue | 19.0% | 25.5% |
| Capex IntensityCapex / Revenue | 1.1% | 1.4% |
| Cash ConversionOCF / Net Profit | 2.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | $612.7M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.9M | $455.8M | ||
| Q3 25 | $294.7M | $606.2M | ||
| Q2 25 | $53.2M | $547.9M | ||
| Q1 25 | $24.2M | $-84.6M | ||
| Q4 24 | $130.3M | $316.9M | ||
| Q3 24 | $242.0M | $438.4M | ||
| Q2 24 | $57.0M | $489.1M | ||
| Q1 24 | $129.9M | $-54.4M |
| Q4 25 | $268.1M | $432.2M | ||
| Q3 25 | $286.4M | $586.4M | ||
| Q2 25 | $43.4M | $530.4M | ||
| Q1 25 | $14.8M | $-108.0M | ||
| Q4 24 | $114.5M | $309.9M | ||
| Q3 24 | $237.0M | $410.0M | ||
| Q2 24 | $52.3M | $462.4M | ||
| Q1 24 | $123.2M | $-75.4M |
| Q4 25 | 19.0% | 25.5% | ||
| Q3 25 | 20.5% | 35.7% | ||
| Q2 25 | 3.2% | 35.0% | ||
| Q1 25 | 1.1% | -7.1% | ||
| Q4 24 | 9.2% | 19.5% | ||
| Q3 24 | 20.3% | 27.1% | ||
| Q2 24 | 4.6% | 31.2% | ||
| Q1 24 | 10.6% | -5.1% |
| Q4 25 | 1.1% | 1.4% | ||
| Q3 25 | 0.6% | 1.2% | ||
| Q2 25 | 0.7% | 1.2% | ||
| Q1 25 | 0.7% | 1.5% | ||
| Q4 24 | 1.3% | 0.4% | ||
| Q3 24 | 0.4% | 1.9% | ||
| Q2 24 | 0.4% | 1.8% | ||
| Q1 24 | 0.6% | 1.4% |
| Q4 25 | 2.59× | — | ||
| Q3 25 | 2.76× | 1.70× | ||
| Q2 25 | 0.60× | 2.78× | ||
| Q1 25 | 0.33× | -0.49× | ||
| Q4 24 | 1.26× | 1.51× | ||
| Q3 24 | 1.77× | 7.97× | ||
| Q2 24 | 0.58× | 3.70× | ||
| Q1 24 | 1.12× | -0.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EPAM
Segment breakdown not available.
IVZ
| Investment Advice | $1.2B | 73% |
| Distribution And Shareholder Service | $382.7M | 23% |
| Financial Service Other | $51.0M | 3% |
| Investment Performance | $28.9M | 2% |
