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Side-by-side financial comparison of EPAM Systems (EPAM) and Trade Desk (The) (TTD). Click either name above to swap in a different company.
EPAM Systems is the larger business by last-quarter revenue ($1.4B vs $846.8M, roughly 1.7× Trade Desk (The)). Trade Desk (The) runs the higher net margin — 22.1% vs 7.8%, a 14.3% gap on every dollar of revenue. On growth, Trade Desk (The) posted the faster year-over-year revenue change (14.3% vs 12.8%). Trade Desk (The) produced more free cash flow last quarter ($285.3M vs $268.1M). Over the past eight quarters, Trade Desk (The)'s revenue compounded faster (31.3% 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.
The Trade Desk, Inc. is an American multinational technology company that specializes in real-time programmatic marketing automation technologies, products, and services, designed to personalize digital content delivery to users.
EPAM vs TTD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $846.8M |
| Net Profit | $109.4M | $186.9M |
| Gross Margin | 30.1% | 80.7% |
| Operating Margin | 10.6% | 30.3% |
| Net Margin | 7.8% | 22.1% |
| Revenue YoY | 12.8% | 14.3% |
| Net Profit YoY | 5.9% | 2.6% |
| EPS (diluted) | $1.97 | $0.39 |
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 | $846.8M | ||
| Q3 25 | $1.4B | $739.4M | ||
| Q2 25 | $1.4B | $694.0M | ||
| Q1 25 | $1.3B | $616.0M | ||
| Q4 24 | $1.2B | $741.0M | ||
| Q3 24 | $1.2B | $628.0M | ||
| Q2 24 | $1.1B | $584.5M | ||
| Q1 24 | $1.2B | $491.3M |
| Q4 25 | $109.4M | $186.9M | ||
| Q3 25 | $106.8M | $115.5M | ||
| Q2 25 | $88.0M | $90.1M | ||
| Q1 25 | $73.5M | $50.7M | ||
| Q4 24 | $103.3M | $182.2M | ||
| Q3 24 | $136.3M | $94.2M | ||
| Q2 24 | $98.6M | $85.0M | ||
| Q1 24 | $116.2M | $31.7M |
| Q4 25 | 30.1% | 80.7% | ||
| Q3 25 | 29.5% | 78.1% | ||
| Q2 25 | 28.8% | 78.2% | ||
| Q1 25 | 26.9% | 76.8% | ||
| Q4 24 | 30.4% | 81.7% | ||
| Q3 24 | 34.6% | 80.5% | ||
| Q2 24 | 29.3% | 81.1% | ||
| Q1 24 | 28.4% | 78.9% |
| Q4 25 | 10.6% | 30.3% | ||
| Q3 25 | 10.4% | 21.8% | ||
| Q2 25 | 9.3% | 16.8% | ||
| Q1 25 | 7.6% | 8.8% | ||
| Q4 24 | 10.9% | 26.4% | ||
| Q3 24 | 15.2% | 17.3% | ||
| Q2 24 | 10.5% | 16.2% | ||
| Q1 24 | 9.5% | 5.8% |
| Q4 25 | 7.8% | 22.1% | ||
| Q3 25 | 7.7% | 15.6% | ||
| Q2 25 | 6.5% | 13.0% | ||
| Q1 25 | 5.6% | 8.2% | ||
| Q4 24 | 8.3% | 24.6% | ||
| Q3 24 | 11.7% | 15.0% | ||
| Q2 24 | 8.6% | 14.5% | ||
| Q1 24 | 10.0% | 6.4% |
| Q4 25 | $1.97 | $0.39 | ||
| Q3 25 | $1.91 | $0.23 | ||
| Q2 25 | $1.56 | $0.18 | ||
| Q1 25 | $1.28 | $0.10 | ||
| Q4 24 | $1.80 | $0.36 | ||
| Q3 24 | $2.37 | $0.19 | ||
| Q2 24 | $1.70 | $0.17 | ||
| Q1 24 | $1.97 | $0.06 |
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 | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.7B | $2.5B |
| Total Assets | $4.9B | $6.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.0B | $1.7B | ||
| Q1 25 | $1.2B | $1.7B | ||
| Q4 24 | $1.3B | $1.9B | ||
| Q3 24 | $2.1B | $1.7B | ||
| Q2 24 | $1.8B | $1.5B | ||
| Q1 24 | $2.0B | $1.4B |
| Q4 25 | $3.7B | $2.5B | ||
| Q3 25 | $3.7B | $2.6B | ||
| Q2 25 | $3.7B | $2.7B | ||
| Q1 25 | $3.6B | $2.7B | ||
| Q4 24 | $3.6B | $2.9B | ||
| Q3 24 | $3.6B | $2.6B | ||
| Q2 24 | $3.4B | $2.4B | ||
| Q1 24 | $3.5B | $2.2B |
| Q4 25 | $4.9B | $6.2B | ||
| Q3 25 | $4.8B | $5.9B | ||
| Q2 25 | $4.7B | $6.0B | ||
| Q1 25 | $4.7B | $5.7B | ||
| Q4 24 | $4.8B | $6.1B | ||
| Q3 24 | $4.5B | $5.5B | ||
| Q2 24 | $4.2B | $5.2B | ||
| Q1 24 | $4.4B | $4.7B |
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 | $311.6M |
| Free Cash FlowOCF − Capex | $268.1M | $285.3M |
| FCF MarginFCF / Revenue | 19.0% | 33.7% |
| Capex IntensityCapex / Revenue | 1.1% | 3.1% |
| Cash ConversionOCF / Net Profit | 2.59× | 1.67× |
| TTM Free Cash FlowTrailing 4 quarters | $612.7M | $795.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.9M | $311.6M | ||
| Q3 25 | $294.7M | $224.7M | ||
| Q2 25 | $53.2M | $165.0M | ||
| Q1 25 | $24.2M | $291.4M | ||
| Q4 24 | $130.3M | $199.4M | ||
| Q3 24 | $242.0M | $273.3M | ||
| Q2 24 | $57.0M | $81.3M | ||
| Q1 24 | $129.9M | $185.5M |
| Q4 25 | $268.1M | $285.3M | ||
| Q3 25 | $286.4M | $158.3M | ||
| Q2 25 | $43.4M | $119.8M | ||
| Q1 25 | $14.8M | $232.3M | ||
| Q4 24 | $114.5M | $179.2M | ||
| Q3 24 | $237.0M | $224.6M | ||
| Q2 24 | $52.3M | $59.1M | ||
| Q1 24 | $123.2M | $178.2M |
| Q4 25 | 19.0% | 33.7% | ||
| Q3 25 | 20.5% | 21.4% | ||
| Q2 25 | 3.2% | 17.3% | ||
| Q1 25 | 1.1% | 37.7% | ||
| Q4 24 | 9.2% | 24.2% | ||
| Q3 24 | 20.3% | 35.8% | ||
| Q2 24 | 4.6% | 10.1% | ||
| Q1 24 | 10.6% | 36.3% |
| Q4 25 | 1.1% | 3.1% | ||
| Q3 25 | 0.6% | 9.0% | ||
| Q2 25 | 0.7% | 6.5% | ||
| Q1 25 | 0.7% | 9.6% | ||
| Q4 24 | 1.3% | 2.7% | ||
| Q3 24 | 0.4% | 7.8% | ||
| Q2 24 | 0.4% | 3.8% | ||
| Q1 24 | 0.6% | 1.5% |
| Q4 25 | 2.59× | 1.67× | ||
| Q3 25 | 2.76× | 1.94× | ||
| Q2 25 | 0.60× | 1.83× | ||
| Q1 25 | 0.33× | 5.75× | ||
| Q4 24 | 1.26× | 1.09× | ||
| Q3 24 | 1.77× | 2.90× | ||
| Q2 24 | 0.58× | 0.96× | ||
| Q1 24 | 1.12× | 5.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EPAM
Segment breakdown not available.
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
