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Side-by-side financial comparison of EPAM Systems (EPAM) and JANUS HENDERSON GROUP PLC (JHG). Click either name above to swap in a different company.
EPAM Systems is the larger business by last-quarter revenue ($1.4B vs $1.1B, roughly 1.2× JANUS HENDERSON GROUP PLC). JANUS HENDERSON GROUP PLC runs the higher net margin — 35.3% vs 7.8%, a 27.5% gap on every dollar of revenue. On growth, JANUS HENDERSON GROUP PLC posted the faster year-over-year revenue change (61.3% vs 12.8%). JANUS HENDERSON GROUP PLC produced more free cash flow last quarter ($320.4M vs $268.1M). Over the past eight quarters, JANUS HENDERSON GROUP PLC's revenue compounded faster (43.9% 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.
Janus Henderson is a British-American global asset management group headquartered in the City of London, United Kingdom. It offers a range of financial products to individuals, intermediary advisors, and institutional investors globally under the trade name Janus Henderson Investors.
EPAM vs JHG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.1B |
| Net Profit | $109.4M | $403.2M |
| Gross Margin | 30.1% | — |
| Operating Margin | 10.6% | 42.7% |
| Net Margin | 7.8% | 35.3% |
| Revenue YoY | 12.8% | 61.3% |
| Net Profit YoY | 5.9% | 231.0% |
| EPS (diluted) | $1.97 | $2.59 |
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 | $1.1B | ||
| Q3 25 | $1.4B | $700.4M | ||
| Q2 25 | $1.4B | $633.2M | ||
| Q1 25 | $1.3B | $621.4M | ||
| Q4 24 | $1.2B | $708.3M | ||
| Q3 24 | $1.2B | $624.8M | ||
| Q2 24 | $1.1B | $588.4M | ||
| Q1 24 | $1.2B | $551.7M |
| Q4 25 | $109.4M | $403.2M | ||
| Q3 25 | $106.8M | $142.1M | ||
| Q2 25 | $88.0M | $149.9M | ||
| Q1 25 | $73.5M | $120.7M | ||
| Q4 24 | $103.3M | $121.8M | ||
| Q3 24 | $136.3M | $27.3M | ||
| Q2 24 | $98.6M | $129.7M | ||
| Q1 24 | $116.2M | $130.1M |
| 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% | 42.7% | ||
| Q3 25 | 10.4% | 24.6% | ||
| Q2 25 | 9.3% | 25.9% | ||
| Q1 25 | 7.6% | 24.7% | ||
| Q4 24 | 10.9% | 27.9% | ||
| Q3 24 | 15.2% | 26.4% | ||
| Q2 24 | 10.5% | 27.9% | ||
| Q1 24 | 9.5% | 21.6% |
| Q4 25 | 7.8% | 35.3% | ||
| Q3 25 | 7.7% | 20.3% | ||
| Q2 25 | 6.5% | 23.7% | ||
| Q1 25 | 5.6% | 19.4% | ||
| Q4 24 | 8.3% | 17.2% | ||
| Q3 24 | 11.7% | 4.4% | ||
| Q2 24 | 8.6% | 22.0% | ||
| Q1 24 | 10.0% | 23.6% |
| Q4 25 | $1.97 | $2.59 | ||
| Q3 25 | $1.91 | $0.92 | ||
| Q2 25 | $1.56 | $0.95 | ||
| Q1 25 | $1.28 | $0.77 | ||
| Q4 24 | $1.80 | $0.77 | ||
| Q3 24 | $2.37 | $0.17 | ||
| Q2 24 | $1.70 | $0.81 | ||
| Q1 24 | $1.97 | $0.81 |
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 | $1.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.7B | $5.1B |
| Total Assets | $4.9B | $8.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $1.6B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $2.1B | $1.8B | ||
| Q2 24 | $1.8B | $1.3B | ||
| Q1 24 | $2.0B | $1.1B |
| Q4 25 | $3.7B | $5.1B | ||
| Q3 25 | $3.7B | $4.8B | ||
| Q2 25 | $3.7B | $4.8B | ||
| Q1 25 | $3.6B | $4.7B | ||
| Q4 24 | $3.6B | $4.6B | ||
| Q3 24 | $3.6B | $4.6B | ||
| Q2 24 | $3.4B | $4.5B | ||
| Q1 24 | $3.5B | $4.4B |
| Q4 25 | $4.9B | $8.3B | ||
| Q3 25 | $4.8B | $7.6B | ||
| Q2 25 | $4.7B | $7.5B | ||
| Q1 25 | $4.7B | $7.1B | ||
| Q4 24 | $4.8B | $7.0B | ||
| Q3 24 | $4.5B | $7.3B | ||
| Q2 24 | $4.2B | $6.4B | ||
| Q1 24 | $4.4B | $6.3B |
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 | $322.7M |
| Free Cash FlowOCF − Capex | $268.1M | $320.4M |
| FCF MarginFCF / Revenue | 19.0% | 28.0% |
| Capex IntensityCapex / Revenue | 1.1% | 0.2% |
| Cash ConversionOCF / Net Profit | 2.59× | 0.80× |
| TTM Free Cash FlowTrailing 4 quarters | $612.7M | $710.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.9M | $322.7M | ||
| Q3 25 | $294.7M | $258.8M | ||
| Q2 25 | $53.2M | $135.2M | ||
| Q1 25 | $24.2M | $2.8M | ||
| Q4 24 | $130.3M | $247.3M | ||
| Q3 24 | $242.0M | $228.5M | ||
| Q2 24 | $57.0M | $223.8M | ||
| Q1 24 | $129.9M | $-5.0M |
| Q4 25 | $268.1M | $320.4M | ||
| Q3 25 | $286.4M | $256.4M | ||
| Q2 25 | $43.4M | $133.2M | ||
| Q1 25 | $14.8M | $900.0K | ||
| Q4 24 | $114.5M | $243.5M | ||
| Q3 24 | $237.0M | $225.9M | ||
| Q2 24 | $52.3M | $221.9M | ||
| Q1 24 | $123.2M | $-6.8M |
| Q4 25 | 19.0% | 28.0% | ||
| Q3 25 | 20.5% | 36.6% | ||
| Q2 25 | 3.2% | 21.0% | ||
| Q1 25 | 1.1% | 0.1% | ||
| Q4 24 | 9.2% | 34.4% | ||
| Q3 24 | 20.3% | 36.2% | ||
| Q2 24 | 4.6% | 37.7% | ||
| Q1 24 | 10.6% | -1.2% |
| Q4 25 | 1.1% | 0.2% | ||
| Q3 25 | 0.6% | 0.3% | ||
| Q2 25 | 0.7% | 0.3% | ||
| Q1 25 | 0.7% | 0.3% | ||
| Q4 24 | 1.3% | 0.5% | ||
| Q3 24 | 0.4% | 0.4% | ||
| Q2 24 | 0.4% | 0.3% | ||
| Q1 24 | 0.6% | 0.3% |
| Q4 25 | 2.59× | 0.80× | ||
| Q3 25 | 2.76× | 1.82× | ||
| Q2 25 | 0.60× | 0.90× | ||
| Q1 25 | 0.33× | 0.02× | ||
| Q4 24 | 1.26× | 2.03× | ||
| Q3 24 | 1.77× | 8.37× | ||
| Q2 24 | 0.58× | 1.73× | ||
| Q1 24 | 1.12× | -0.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EPAM
Segment breakdown not available.
JHG
| Investment Advice | $585.2M | 51% |
| Investment Performance | $425.8M | 37% |
| Other | $76.4M | 7% |
