vs
Side-by-side financial comparison of EPAM Systems (EPAM) and MARRIOTT VACATIONS WORLDWIDE Corp (VAC). Click either name above to swap in a different company.
EPAM Systems is the larger business by last-quarter revenue ($1.4B vs $1.2B, roughly 1.1× MARRIOTT VACATIONS WORLDWIDE Corp). EPAM Systems runs the higher net margin — 7.8% vs -35.0%, a 42.8% gap on every dollar of revenue. On growth, EPAM Systems posted the faster year-over-year revenue change (12.8% vs -0.7%). EPAM Systems produced more free cash flow last quarter ($268.1M vs $-6.0M). Over the past eight quarters, EPAM Systems's revenue compounded faster (9.9% CAGR vs 5.2%).
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.
Marriott Vacations Worldwide Corporation is a pure-play public timeshare company. Formerly a division of Marriott International, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership in November 2011. Marriott Vacations Worldwide runs more than 120 resorts with over 700,000 Owners and members in a diverse portfolio of brands under The Marriott Vacation Clubs name. Its brands include Marriott Vacation Club, The Marriott Vaca...
EPAM vs VAC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.2B |
| Net Profit | $109.4M | $-431.0M |
| Gross Margin | 30.1% | — |
| Operating Margin | 10.6% | — |
| Net Margin | 7.8% | -35.0% |
| Revenue YoY | 12.8% | -0.7% |
| Net Profit YoY | 5.9% | -962.0% |
| EPS (diluted) | $1.97 | $-12.00 |
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 | $1.2B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.1B | $1.1B | ||
| Q1 24 | $1.2B | $1.1B |
| Q4 25 | $109.4M | $-431.0M | ||
| Q3 25 | $106.8M | $-2.0M | ||
| Q2 25 | $88.0M | $69.0M | ||
| Q1 25 | $73.5M | $56.0M | ||
| Q4 24 | $103.3M | $50.0M | ||
| Q3 24 | $136.3M | $84.0M | ||
| Q2 24 | $98.6M | $37.0M | ||
| Q1 24 | $116.2M | $47.0M |
| 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% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 9.3% | — | ||
| Q1 25 | 7.6% | — | ||
| Q4 24 | 10.9% | — | ||
| Q3 24 | 15.2% | — | ||
| Q2 24 | 10.5% | — | ||
| Q1 24 | 9.5% | — |
| Q4 25 | 7.8% | -35.0% | ||
| Q3 25 | 7.7% | -0.2% | ||
| Q2 25 | 6.5% | 6.0% | ||
| Q1 25 | 5.6% | 5.0% | ||
| Q4 24 | 8.3% | 4.0% | ||
| Q3 24 | 11.7% | 6.9% | ||
| Q2 24 | 8.6% | 3.5% | ||
| Q1 24 | 10.0% | 4.2% |
| Q4 25 | $1.97 | $-12.00 | ||
| Q3 25 | $1.91 | $-0.07 | ||
| Q2 25 | $1.56 | $1.77 | ||
| Q1 25 | $1.28 | $1.46 | ||
| Q4 24 | $1.80 | $1.29 | ||
| Q3 24 | $2.37 | $2.12 | ||
| Q2 24 | $1.70 | $0.98 | ||
| Q1 24 | $1.97 | $1.22 |
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 | $406.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.7B | $2.0B |
| Total Assets | $4.9B | $9.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $406.0M | ||
| Q3 25 | $1.2B | $474.0M | ||
| Q2 25 | $1.0B | $205.0M | ||
| Q1 25 | $1.2B | $196.0M | ||
| Q4 24 | $1.3B | $197.0M | ||
| Q3 24 | $2.1B | $197.0M | ||
| Q2 24 | $1.8B | $206.0M | ||
| Q1 24 | $2.0B | $237.0M |
| Q4 25 | $3.7B | $2.0B | ||
| Q3 25 | $3.7B | $2.5B | ||
| Q2 25 | $3.7B | $2.5B | ||
| Q1 25 | $3.6B | $2.4B | ||
| Q4 24 | $3.6B | $2.4B | ||
| Q3 24 | $3.6B | $2.4B | ||
| Q2 24 | $3.4B | $2.4B | ||
| Q1 24 | $3.5B | $2.4B |
| Q4 25 | $4.9B | $9.8B | ||
| Q3 25 | $4.8B | $10.1B | ||
| Q2 25 | $4.7B | $9.9B | ||
| Q1 25 | $4.7B | $9.9B | ||
| Q4 24 | $4.8B | $9.8B | ||
| Q3 24 | $4.5B | $9.7B | ||
| Q2 24 | $4.2B | $9.6B | ||
| Q1 24 | $4.4B | $9.9B |
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 | $6.0M |
| Free Cash FlowOCF − Capex | $268.1M | $-6.0M |
| FCF MarginFCF / Revenue | 19.0% | -0.5% |
| Capex IntensityCapex / Revenue | 1.1% | 1.0% |
| Cash ConversionOCF / Net Profit | 2.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | $612.7M | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.9M | $6.0M | ||
| Q3 25 | $294.7M | $62.0M | ||
| Q2 25 | $53.2M | $-48.0M | ||
| Q1 25 | $24.2M | $8.0M | ||
| Q4 24 | $130.3M | $100.0M | ||
| Q3 24 | $242.0M | $72.0M | ||
| Q2 24 | $57.0M | $30.0M | ||
| Q1 24 | $129.9M | $3.0M |
| Q4 25 | $268.1M | $-6.0M | ||
| Q3 25 | $286.4M | $51.0M | ||
| Q2 25 | $43.4M | $-68.0M | ||
| Q1 25 | $14.8M | $-6.0M | ||
| Q4 24 | $114.5M | $86.0M | ||
| Q3 24 | $237.0M | $58.0M | ||
| Q2 24 | $52.3M | $17.0M | ||
| Q1 24 | $123.2M | $-13.0M |
| Q4 25 | 19.0% | -0.5% | ||
| Q3 25 | 20.5% | 4.3% | ||
| Q2 25 | 3.2% | -5.9% | ||
| Q1 25 | 1.1% | -0.5% | ||
| Q4 24 | 9.2% | 6.9% | ||
| Q3 24 | 20.3% | 4.8% | ||
| Q2 24 | 4.6% | 1.6% | ||
| Q1 24 | 10.6% | -1.2% |
| Q4 25 | 1.1% | 1.0% | ||
| Q3 25 | 0.6% | 0.9% | ||
| Q2 25 | 0.7% | 1.7% | ||
| Q1 25 | 0.7% | 1.3% | ||
| Q4 24 | 1.3% | 1.1% | ||
| Q3 24 | 0.4% | 1.1% | ||
| Q2 24 | 0.4% | 1.2% | ||
| Q1 24 | 0.6% | 1.4% |
| Q4 25 | 2.59× | — | ||
| Q3 25 | 2.76× | — | ||
| Q2 25 | 0.60× | -0.70× | ||
| Q1 25 | 0.33× | 0.14× | ||
| Q4 24 | 1.26× | 2.00× | ||
| Q3 24 | 1.77× | 0.86× | ||
| Q2 24 | 0.58× | 0.81× | ||
| Q1 24 | 1.12× | 0.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EPAM
Segment breakdown not available.
VAC
| Cost Reimbursement | $467.0M | 38% |
| Time Share | $381.0M | 31% |
| Management And Exchange | $212.0M | 17% |
| Ancillary Revenues | $64.0M | 5% |
| Management Service | $55.0M | 4% |
| Service Other | $36.0M | 3% |
