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Side-by-side financial comparison of EPAM Systems (EPAM) and KeyCorp (KEY). Click either name above to swap in a different company.
KeyCorp is the larger business by last-quarter revenue ($2.0B vs $1.4B, roughly 1.4× EPAM Systems). KeyCorp runs the higher net margin — 25.4% vs 7.8%, a 17.7% gap on every dollar of revenue. On growth, KeyCorp posted the faster year-over-year revenue change (131.8% vs 12.8%). KeyCorp produced more free cash flow last quarter ($2.1B vs $268.1M). Over the past eight quarters, KeyCorp's revenue compounded faster (14.4% 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.
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
EPAM vs KEY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $2.0B |
| Net Profit | $109.4M | $510.0M |
| Gross Margin | 30.1% | — |
| Operating Margin | 10.6% | 32.3% |
| Net Margin | 7.8% | 25.4% |
| Revenue YoY | 12.8% | 131.8% |
| Net Profit YoY | 5.9% | 309.0% |
| EPS (diluted) | $1.97 | $0.43 |
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 | $2.0B | ||
| Q3 25 | $1.4B | $1.9B | ||
| Q2 25 | $1.4B | $1.8B | ||
| Q1 25 | $1.3B | $1.8B | ||
| Q4 24 | $1.2B | $865.0M | ||
| Q3 24 | $1.2B | $695.0M | ||
| Q2 24 | $1.1B | $1.5B | ||
| Q1 24 | $1.2B | $1.5B |
| Q4 25 | $109.4M | $510.0M | ||
| Q3 25 | $106.8M | $489.0M | ||
| Q2 25 | $88.0M | $425.0M | ||
| Q1 25 | $73.5M | $405.0M | ||
| Q4 24 | $103.3M | $-244.0M | ||
| Q3 24 | $136.3M | $-410.0M | ||
| Q2 24 | $98.6M | $274.0M | ||
| Q1 24 | $116.2M | $219.0M |
| 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% | 32.3% | ||
| Q3 25 | 10.4% | 31.8% | ||
| Q2 25 | 9.3% | 29.3% | ||
| Q1 25 | 7.6% | 29.0% | ||
| Q4 24 | 10.9% | -92.6% | ||
| Q3 24 | 15.2% | -72.8% | ||
| Q2 24 | 10.5% | 22.0% | ||
| Q1 24 | 9.5% | 18.1% |
| Q4 25 | 7.8% | 25.4% | ||
| Q3 25 | 7.7% | 25.8% | ||
| Q2 25 | 6.5% | 23.1% | ||
| Q1 25 | 5.6% | 22.8% | ||
| Q4 24 | 8.3% | -54.7% | ||
| Q3 24 | 11.7% | -59.0% | ||
| Q2 24 | 8.6% | 18.0% | ||
| Q1 24 | 10.0% | 14.3% |
| Q4 25 | $1.97 | $0.43 | ||
| Q3 25 | $1.91 | $0.41 | ||
| Q2 25 | $1.56 | $0.35 | ||
| Q1 25 | $1.28 | $0.33 | ||
| Q4 24 | $1.80 | $-0.30 | ||
| Q3 24 | $2.37 | $-0.47 | ||
| Q2 24 | $1.70 | $0.25 | ||
| Q1 24 | $1.97 | $0.20 |
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 | $10.2B |
| Total DebtLower is stronger | — | $9.9B |
| Stockholders' EquityBook value | $3.7B | $20.4B |
| Total Assets | $4.9B | $184.4B |
| Debt / EquityLower = less leverage | — | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $10.2B | ||
| Q3 25 | $1.2B | $13.3B | ||
| Q2 25 | $1.0B | $11.6B | ||
| Q1 25 | $1.2B | $15.3B | ||
| Q4 24 | $1.3B | $17.5B | ||
| Q3 24 | $2.1B | $22.8B | ||
| Q2 24 | $1.8B | $15.5B | ||
| Q1 24 | $2.0B | $13.2B |
| Q4 25 | — | $9.9B | ||
| Q3 25 | — | $10.9B | ||
| Q2 25 | — | $12.1B | ||
| Q1 25 | — | $12.4B | ||
| Q4 24 | — | $12.1B | ||
| Q3 24 | — | $15.7B | ||
| Q2 24 | — | $16.9B | ||
| Q1 24 | — | $20.8B |
| Q4 25 | $3.7B | $20.4B | ||
| Q3 25 | $3.7B | $20.1B | ||
| Q2 25 | $3.7B | $19.5B | ||
| Q1 25 | $3.6B | $19.0B | ||
| Q4 24 | $3.6B | $18.2B | ||
| Q3 24 | $3.6B | $16.9B | ||
| Q2 24 | $3.4B | $14.8B | ||
| Q1 24 | $3.5B | $14.5B |
| Q4 25 | $4.9B | $184.4B | ||
| Q3 25 | $4.8B | $187.4B | ||
| Q2 25 | $4.7B | $185.5B | ||
| Q1 25 | $4.7B | $188.7B | ||
| Q4 24 | $4.8B | $187.2B | ||
| Q3 24 | $4.5B | $189.8B | ||
| Q2 24 | $4.2B | $187.4B | ||
| Q1 24 | $4.4B | $187.5B |
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.54× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.93× | ||
| Q2 24 | — | 1.14× | ||
| Q1 24 | — | 1.43× |
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 | $2.2B |
| Free Cash FlowOCF − Capex | $268.1M | $2.1B |
| FCF MarginFCF / Revenue | 19.0% | 104.8% |
| Capex IntensityCapex / Revenue | 1.1% | 5.3% |
| Cash ConversionOCF / Net Profit | 2.59× | 4.33× |
| TTM Free Cash FlowTrailing 4 quarters | $612.7M | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.9M | $2.2B | ||
| Q3 25 | $294.7M | $396.0M | ||
| Q2 25 | $53.2M | $1.2B | ||
| Q1 25 | $24.2M | $-140.0M | ||
| Q4 24 | $130.3M | $664.0M | ||
| Q3 24 | $242.0M | $-1.2B | ||
| Q2 24 | $57.0M | $-217.0M | ||
| Q1 24 | $129.9M | $359.0M |
| Q4 25 | $268.1M | $2.1B | ||
| Q3 25 | $286.4M | $367.0M | ||
| Q2 25 | $43.4M | $1.2B | ||
| Q1 25 | $14.8M | $-150.0M | ||
| Q4 24 | $114.5M | $599.0M | ||
| Q3 24 | $237.0M | $-1.2B | ||
| Q2 24 | $52.3M | $-230.0M | ||
| Q1 24 | $123.2M | $347.0M |
| Q4 25 | 19.0% | 104.8% | ||
| Q3 25 | 20.5% | 19.4% | ||
| Q2 25 | 3.2% | 65.8% | ||
| Q1 25 | 1.1% | -8.5% | ||
| Q4 24 | 9.2% | 69.2% | ||
| Q3 24 | 20.3% | -175.8% | ||
| Q2 24 | 4.6% | -15.1% | ||
| Q1 24 | 10.6% | 22.6% |
| Q4 25 | 1.1% | 5.3% | ||
| Q3 25 | 0.6% | 1.5% | ||
| Q2 25 | 0.7% | 1.3% | ||
| Q1 25 | 0.7% | 0.6% | ||
| Q4 24 | 1.3% | 7.5% | ||
| Q3 24 | 0.4% | 2.4% | ||
| Q2 24 | 0.4% | 0.9% | ||
| Q1 24 | 0.6% | 0.8% |
| Q4 25 | 2.59× | 4.33× | ||
| Q3 25 | 2.76× | 0.81× | ||
| Q2 25 | 0.60× | 2.90× | ||
| Q1 25 | 0.33× | -0.35× | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.77× | — | ||
| Q2 24 | 0.58× | -0.79× | ||
| Q1 24 | 1.12× | 1.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
