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Side-by-side financial comparison of EPAM Systems (EPAM) and North American Construction Group Ltd. (NOA). Click either name above to swap in a different company.
EPAM Systems is the larger business by last-quarter revenue ($1.4B vs $860.2M, roughly 1.6× North American Construction Group Ltd.). EPAM Systems runs the higher net margin — 7.8% vs 4.7%, a 3.1% gap on every dollar of revenue. Over the past eight quarters, North American Construction Group Ltd.'s revenue compounded faster (58.0% 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.
Shanghai Construction (Group) Corporation (SCG) is a Chinese construction and engineering company, ranked as the 16th largest construction company in the world based on 2011 revenues.
EPAM vs NOA — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $860.2M |
| Net Profit | $109.4M | $40.5M |
| Gross Margin | 30.1% | 19.7% |
| Operating Margin | 10.6% | 15.4% |
| Net Margin | 7.8% | 4.7% |
| Revenue YoY | 12.8% | — |
| Net Profit YoY | 5.9% | — |
| EPS (diluted) | $1.97 | — |
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 | — | ||
| Q3 25 | $1.4B | $860.2M | ||
| Q2 25 | $1.4B | $573.3M | ||
| Q1 25 | $1.3B | $297.0M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | $636.4M | ||
| Q2 24 | $1.1B | $439.5M | ||
| Q1 24 | $1.2B | $244.3M |
| Q4 25 | $109.4M | — | ||
| Q3 25 | $106.8M | $40.5M | ||
| Q2 25 | $88.0M | $26.0M | ||
| Q1 25 | $73.5M | $11.5M | ||
| Q4 24 | $103.3M | — | ||
| Q3 24 | $136.3M | $45.5M | ||
| Q2 24 | $98.6M | $34.1M | ||
| Q1 24 | $116.2M | $21.8M |
| Q4 25 | 30.1% | — | ||
| Q3 25 | 29.5% | 19.7% | ||
| Q2 25 | 28.8% | 18.1% | ||
| Q1 25 | 26.9% | 18.0% | ||
| Q4 24 | 30.4% | — | ||
| Q3 24 | 34.6% | 14.0% | ||
| Q2 24 | 29.3% | 14.3% | ||
| Q1 24 | 28.4% | 16.8% |
| Q4 25 | 10.6% | — | ||
| Q3 25 | 10.4% | 15.4% | ||
| Q2 25 | 9.3% | 13.6% | ||
| Q1 25 | 7.6% | 13.0% | ||
| Q4 24 | 10.9% | — | ||
| Q3 24 | 15.2% | 7.9% | ||
| Q2 24 | 10.5% | 8.2% | ||
| Q1 24 | 9.5% | 10.5% |
| Q4 25 | 7.8% | — | ||
| Q3 25 | 7.7% | 4.7% | ||
| Q2 25 | 6.5% | 4.5% | ||
| Q1 25 | 5.6% | 3.9% | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 11.7% | 7.1% | ||
| Q2 24 | 8.6% | 7.8% | ||
| Q1 24 | 10.0% | 8.9% |
| Q4 25 | $1.97 | — | ||
| Q3 25 | $1.91 | — | ||
| Q2 25 | $1.56 | — | ||
| Q1 25 | $1.28 | — | ||
| Q4 24 | $1.80 | — | ||
| Q3 24 | $2.37 | — | ||
| Q2 24 | $1.70 | — | ||
| Q1 24 | $1.97 | — |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.7B | — |
| Total Assets | $4.9B | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $2.0B | — |
| Q4 25 | $3.7B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.7B | — | ||
| Q1 25 | $3.6B | — | ||
| Q4 24 | $3.6B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $3.4B | — | ||
| Q1 24 | $3.5B | — |
| Q4 25 | $4.9B | — | ||
| Q3 25 | $4.8B | $1.7B | ||
| Q2 25 | $4.7B | $1.7B | ||
| Q1 25 | $4.7B | $1.7B | ||
| Q4 24 | $4.8B | — | ||
| Q3 24 | $4.5B | $1.5B | ||
| Q2 24 | $4.2B | $1.5B | ||
| Q1 24 | $4.4B | $1.5B |
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 | $140.7M |
| Free Cash FlowOCF − Capex | $268.1M | — |
| FCF MarginFCF / Revenue | 19.0% | — |
| Capex IntensityCapex / Revenue | 1.1% | — |
| Cash ConversionOCF / Net Profit | 2.59× | 3.47× |
| TTM Free Cash FlowTrailing 4 quarters | $612.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.9M | — | ||
| Q3 25 | $294.7M | $140.7M | ||
| Q2 25 | $53.2M | $85.4M | ||
| Q1 25 | $24.2M | $19.0M | ||
| Q4 24 | $130.3M | — | ||
| Q3 24 | $242.0M | $109.5M | ||
| Q2 24 | $57.0M | $72.0M | ||
| Q1 24 | $129.9M | $31.8M |
| 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× | — | ||
| Q3 25 | 2.76× | 3.47× | ||
| Q2 25 | 0.60× | 3.28× | ||
| Q1 25 | 0.33× | 1.65× | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.77× | 2.41× | ||
| Q2 24 | 0.58× | 2.11× | ||
| Q1 24 | 1.12× | 1.46× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
