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Side-by-side financial comparison of EPAM Systems (EPAM) and QVC Group, Inc. (QVCGA). Click either name above to swap in a different company.
QVC Group, Inc. is the larger business by last-quarter revenue ($2.7B vs $1.4B, roughly 1.9× EPAM Systems). EPAM Systems runs the higher net margin — 7.8% vs -1.4%, a 9.2% gap on every dollar of revenue. On growth, EPAM Systems posted the faster year-over-year revenue change (12.8% vs -9.1%). EPAM Systems produced more free cash flow last quarter ($268.1M vs $191.0M). Over the past eight quarters, EPAM Systems's revenue compounded faster (9.9% CAGR vs 6.9%).
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.
QVC Group, is an American media conglomerate controlled by company chairman John C. Malone, who owns a majority of the voting shares.
EPAM vs QVCGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $2.7B |
| Net Profit | $109.4M | $-37.0M |
| Gross Margin | 30.1% | 32.9% |
| Operating Margin | 10.6% | 3.7% |
| Net Margin | 7.8% | -1.4% |
| Revenue YoY | 12.8% | -9.1% |
| Net Profit YoY | 5.9% | 97.1% |
| EPS (diluted) | $1.97 | $-17.37 |
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 | $2.7B | ||
| Q3 25 | $1.4B | $2.2B | ||
| Q2 25 | $1.4B | $2.2B | ||
| Q1 25 | $1.3B | $2.1B | ||
| Q4 24 | $1.2B | $2.9B | ||
| Q3 24 | $1.2B | $2.3B | ||
| Q2 24 | $1.1B | $2.4B | ||
| Q1 24 | $1.2B | $2.3B |
| Q4 25 | $109.4M | $-37.0M | ||
| Q3 25 | $106.8M | $-80.0M | ||
| Q2 25 | $88.0M | $-2.2B | ||
| Q1 25 | $73.5M | $-100.0M | ||
| Q4 24 | $103.3M | $-1.3B | ||
| Q3 24 | $136.3M | $-23.0M | ||
| Q2 24 | $98.6M | $20.0M | ||
| Q1 24 | $116.2M | $-1.0M |
| Q4 25 | 30.1% | 32.9% | ||
| Q3 25 | 29.5% | 34.0% | ||
| Q2 25 | 28.8% | 36.4% | ||
| Q1 25 | 26.9% | 34.2% | ||
| Q4 24 | 30.4% | 33.3% | ||
| Q3 24 | 34.6% | 35.3% | ||
| Q2 24 | 29.3% | 36.4% | ||
| Q1 24 | 28.4% | 35.5% |
| Q4 25 | 10.6% | 3.7% | ||
| Q3 25 | 10.4% | 2.7% | ||
| Q2 25 | 9.3% | -101.6% | ||
| Q1 25 | 7.6% | 0.7% | ||
| Q4 24 | 10.9% | -43.2% | ||
| Q3 24 | 15.2% | 6.5% | ||
| Q2 24 | 10.5% | 6.9% | ||
| Q1 24 | 9.5% | 6.2% |
| Q4 25 | 7.8% | -1.4% | ||
| Q3 25 | 7.7% | -3.6% | ||
| Q2 25 | 6.5% | -99.4% | ||
| Q1 25 | 5.6% | -4.8% | ||
| Q4 24 | 8.3% | -43.7% | ||
| Q3 24 | 11.7% | -1.0% | ||
| Q2 24 | 8.6% | 0.8% | ||
| Q1 24 | 10.0% | -0.0% |
| Q4 25 | $1.97 | $-17.37 | ||
| Q3 25 | $1.91 | $-9.89 | ||
| Q2 25 | $1.56 | $-275.46 | ||
| Q1 25 | $1.28 | $-0.25 | ||
| Q4 24 | $1.80 | — | ||
| Q3 24 | $2.37 | $-0.06 | ||
| Q2 24 | $1.70 | $2.57 | ||
| 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 | $2.0B |
| Total DebtLower is stronger | — | $790.0M |
| Stockholders' EquityBook value | $3.7B | $-3.1B |
| Total Assets | $4.9B | $7.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $2.0B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $1.0B | $897.0M | ||
| Q1 25 | $1.2B | $833.0M | ||
| Q4 24 | $1.3B | $905.0M | ||
| Q3 24 | $2.1B | $873.0M | ||
| Q2 24 | $1.8B | $1.2B | ||
| Q1 24 | $2.0B | $1.1B |
| Q4 25 | — | $790.0M | ||
| Q3 25 | — | $5.9B | ||
| Q2 25 | — | $4.9B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $5.3B | ||
| Q1 24 | — | $5.5B |
| Q4 25 | $3.7B | $-3.1B | ||
| Q3 25 | $3.7B | $-3.1B | ||
| Q2 25 | $3.7B | $-3.0B | ||
| Q1 25 | $3.6B | $-981.0M | ||
| Q4 24 | $3.6B | $-971.0M | ||
| Q3 24 | $3.6B | $397.0M | ||
| Q2 24 | $3.4B | $328.0M | ||
| Q1 24 | $3.5B | $255.0M |
| Q4 25 | $4.9B | $7.6B | ||
| Q3 25 | $4.8B | $7.6B | ||
| Q2 25 | $4.7B | $6.7B | ||
| Q1 25 | $4.7B | $9.0B | ||
| Q4 24 | $4.8B | $9.2B | ||
| Q3 24 | $4.5B | $10.8B | ||
| Q2 24 | $4.2B | $10.9B | ||
| Q1 24 | $4.4B | $11.0B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 12.74× | ||
| Q2 24 | — | 16.28× | ||
| Q1 24 | — | 21.53× |
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 | $244.0M |
| Free Cash FlowOCF − Capex | $268.1M | $191.0M |
| FCF MarginFCF / Revenue | 19.0% | 7.1% |
| Capex IntensityCapex / Revenue | 1.1% | 2.0% |
| Cash ConversionOCF / Net Profit | 2.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | $612.7M | $118.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.9M | $244.0M | ||
| Q3 25 | $294.7M | $4.0M | ||
| Q2 25 | $53.2M | $86.0M | ||
| Q1 25 | $24.2M | $-60.0M | ||
| Q4 24 | $130.3M | $212.0M | ||
| Q3 24 | $242.0M | $20.0M | ||
| Q2 24 | $57.0M | $267.0M | ||
| Q1 24 | $129.9M | $26.0M |
| Q4 25 | $268.1M | $191.0M | ||
| Q3 25 | $286.4M | $-27.0M | ||
| Q2 25 | $43.4M | $48.0M | ||
| Q1 25 | $14.8M | $-94.0M | ||
| Q4 24 | $114.5M | $150.0M | ||
| Q3 24 | $237.0M | $-23.0M | ||
| Q2 24 | $52.3M | $213.0M | ||
| Q1 24 | $123.2M | $-14.0M |
| Q4 25 | 19.0% | 7.1% | ||
| Q3 25 | 20.5% | -1.2% | ||
| Q2 25 | 3.2% | 2.1% | ||
| Q1 25 | 1.1% | -4.5% | ||
| Q4 24 | 9.2% | 5.1% | ||
| Q3 24 | 20.3% | -1.0% | ||
| Q2 24 | 4.6% | 8.8% | ||
| Q1 24 | 10.6% | -0.6% |
| Q4 25 | 1.1% | 2.0% | ||
| Q3 25 | 0.6% | 1.4% | ||
| Q2 25 | 0.7% | 1.7% | ||
| Q1 25 | 0.7% | 1.6% | ||
| Q4 24 | 1.3% | 2.1% | ||
| Q3 24 | 0.4% | 1.8% | ||
| Q2 24 | 0.4% | 2.2% | ||
| Q1 24 | 0.6% | 1.7% |
| Q4 25 | 2.59× | — | ||
| Q3 25 | 2.76× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.77× | — | ||
| Q2 24 | 0.58× | 13.35× | ||
| Q1 24 | 1.12× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EPAM
Segment breakdown not available.
QVCGA
| Other | $915.0M | 34% |
| Home | $754.0M | 28% |
| Beauty | $260.0M | 10% |
| Apparel | $254.0M | 9% |
| Electronics | $187.0M | 7% |
| Accessories | $181.0M | 7% |
| Jewelry | $87.0M | 3% |
| Manufactured Product Other | $38.0M | 1% |
