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Side-by-side financial comparison of EPAM Systems (EPAM) and Liberty Energy Inc. (LBRT). Click either name above to swap in a different company.
EPAM Systems is the larger business by last-quarter revenue ($1.4B vs $1.0B, roughly 1.4× Liberty Energy Inc.). EPAM Systems runs the higher net margin — 7.8% vs 2.2%, a 5.6% gap on every dollar of revenue. On growth, EPAM Systems posted the faster year-over-year revenue change (12.8% vs 4.5%). Over the past eight quarters, EPAM Systems's revenue compounded faster (9.9% CAGR vs -6.2%).
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.
Liberty Energy Inc. is a North American energy services provider specializing in hydraulic fracturing and well completion solutions for oil and gas operators. It serves clients across major U.S. shale basins, offering low-emission equipment and tailored support to optimize well productivity.
EPAM vs LBRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.0B |
| Net Profit | $109.4M | $22.6M |
| Gross Margin | 30.1% | — |
| Operating Margin | 10.6% | 2.2% |
| Net Margin | 7.8% | 2.2% |
| Revenue YoY | 12.8% | 4.5% |
| Net Profit YoY | 5.9% | — |
| EPS (diluted) | $1.97 | $0.14 |
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 | — | $1.0B | ||
| Q4 25 | $1.4B | $1.0B | ||
| Q3 25 | $1.4B | $947.4M | ||
| Q2 25 | $1.4B | $1.0B | ||
| Q1 25 | $1.3B | $977.5M | ||
| Q4 24 | $1.2B | $943.6M | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.1B | $1.2B |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $109.4M | $13.7M | ||
| Q3 25 | $106.8M | $43.1M | ||
| Q2 25 | $88.0M | $71.0M | ||
| Q1 25 | $73.5M | $20.1M | ||
| Q4 24 | $103.3M | $51.9M | ||
| Q3 24 | $136.3M | $73.8M | ||
| Q2 24 | $98.6M | $108.4M |
| Q1 26 | — | — | ||
| Q4 25 | 30.1% | 20.6% | ||
| Q3 25 | 29.5% | 18.7% | ||
| Q2 25 | 28.8% | 22.1% | ||
| Q1 25 | 26.9% | 22.1% | ||
| Q4 24 | 30.4% | 21.4% | ||
| Q3 24 | 34.6% | 26.2% | ||
| Q2 24 | 29.3% | 27.9% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 10.6% | 1.9% | ||
| Q3 25 | 10.4% | -0.3% | ||
| Q2 25 | 9.3% | 3.6% | ||
| Q1 25 | 7.6% | 1.9% | ||
| Q4 24 | 10.9% | 2.6% | ||
| Q3 24 | 15.2% | 9.4% | ||
| Q2 24 | 10.5% | 12.2% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 7.8% | 1.3% | ||
| Q3 25 | 7.7% | 4.5% | ||
| Q2 25 | 6.5% | 6.8% | ||
| Q1 25 | 5.6% | 2.1% | ||
| Q4 24 | 8.3% | 5.5% | ||
| Q3 24 | 11.7% | 6.5% | ||
| Q2 24 | 8.6% | 9.3% |
| Q1 26 | — | $0.14 | ||
| Q4 25 | $1.97 | $0.08 | ||
| Q3 25 | $1.91 | $0.26 | ||
| Q2 25 | $1.56 | $0.43 | ||
| Q1 25 | $1.28 | $0.12 | ||
| Q4 24 | $1.80 | $0.31 | ||
| Q3 24 | $2.37 | $0.44 | ||
| Q2 24 | $1.70 | $0.64 |
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 | $699.1M |
| Total DebtLower is stronger | — | $7.1M |
| Stockholders' EquityBook value | $3.7B | $1.9B |
| Total Assets | $4.9B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $699.1M | ||
| Q4 25 | $1.3B | $27.6M | ||
| Q3 25 | $1.2B | $13.5M | ||
| Q2 25 | $1.0B | $19.6M | ||
| Q1 25 | $1.2B | $24.1M | ||
| Q4 24 | $1.3B | $20.0M | ||
| Q3 24 | $2.1B | $23.0M | ||
| Q2 24 | $1.8B | $30.0M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | — | $246.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $190.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $3.7B | $2.1B | ||
| Q3 25 | $3.7B | $2.1B | ||
| Q2 25 | $3.7B | $2.0B | ||
| Q1 25 | $3.6B | $2.0B | ||
| Q4 24 | $3.6B | $2.0B | ||
| Q3 24 | $3.6B | $2.0B | ||
| Q2 24 | $3.4B | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $4.9B | $3.6B | ||
| Q3 25 | $4.8B | $3.5B | ||
| Q2 25 | $4.7B | $3.4B | ||
| Q1 25 | $4.7B | $3.4B | ||
| Q4 24 | $4.8B | $3.3B | ||
| Q3 24 | $4.5B | $3.3B | ||
| Q2 24 | $4.2B | $3.2B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.10× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| FCF MarginFCF / Revenue | 19.0% | — |
| Capex IntensityCapex / Revenue | 1.1% | 13.1% |
| 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 | $195.4M | ||
| Q3 25 | $294.7M | $51.5M | ||
| Q2 25 | $53.2M | $170.6M | ||
| Q1 25 | $24.2M | $192.1M | ||
| Q4 24 | $130.3M | $177.3M | ||
| Q3 24 | $242.0M | $244.5M | ||
| Q2 24 | $57.0M | $248.2M |
| Q1 26 | — | — | ||
| Q4 25 | $268.1M | $-10.0M | ||
| Q3 25 | $286.4M | $-67.2M | ||
| Q2 25 | $43.4M | $33.1M | ||
| Q1 25 | $14.8M | $58.2M | ||
| Q4 24 | $114.5M | $-26.2M | ||
| Q3 24 | $237.0M | $77.9M | ||
| Q2 24 | $52.3M | $112.2M |
| Q1 26 | — | — | ||
| Q4 25 | 19.0% | -1.0% | ||
| Q3 25 | 20.5% | -7.1% | ||
| Q2 25 | 3.2% | 3.2% | ||
| Q1 25 | 1.1% | 6.0% | ||
| Q4 24 | 9.2% | -2.8% | ||
| Q3 24 | 20.3% | 6.8% | ||
| Q2 24 | 4.6% | 9.7% |
| Q1 26 | — | 13.1% | ||
| Q4 25 | 1.1% | 19.8% | ||
| Q3 25 | 0.6% | 12.5% | ||
| Q2 25 | 0.7% | 13.2% | ||
| Q1 25 | 0.7% | 13.7% | ||
| Q4 24 | 1.3% | 21.6% | ||
| Q3 24 | 0.4% | 14.6% | ||
| Q2 24 | 0.4% | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | 2.59× | 14.28× | ||
| Q3 25 | 2.76× | 1.20× | ||
| Q2 25 | 0.60× | 2.40× | ||
| Q1 25 | 0.33× | 9.55× | ||
| Q4 24 | 1.26× | 3.42× | ||
| Q3 24 | 1.77× | 3.31× | ||
| Q2 24 | 0.58× | 2.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
