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Side-by-side financial comparison of EPAM Systems (EPAM) and Virtu Financial, Inc. (VIRT). Click either name above to swap in a different company.
EPAM Systems is the larger business by last-quarter revenue ($1.4B vs $1.1B, roughly 1.3× Virtu Financial, Inc.). Virtu Financial, Inc. runs the higher net margin — 31.6% vs 7.8%, a 23.9% gap on every dollar of revenue. On growth, Virtu Financial, Inc. posted the faster year-over-year revenue change (30.7% vs 12.8%). Over the past eight quarters, Virtu Financial, Inc.'s revenue compounded faster (25.7% 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.
Virtu Financial, Inc. is an American high-frequency trading company. The company went public on the Nasdaq in 2015.
EPAM vs VIRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.1B |
| Net Profit | $109.4M | $346.6M |
| Gross Margin | 30.1% | — |
| Operating Margin | 10.6% | 37.4% |
| Net Margin | 7.8% | 31.6% |
| Revenue YoY | 12.8% | 30.7% |
| Net Profit YoY | 5.9% | 82.8% |
| EPS (diluted) | $1.97 | $1.99 |
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 | — | $1.1B | ||
| Q4 25 | $1.4B | $969.9M | ||
| Q3 25 | $1.4B | $824.8M | ||
| Q2 25 | $1.4B | $999.6M | ||
| Q1 25 | $1.3B | $837.9M | ||
| Q4 24 | $1.2B | $834.3M | ||
| Q3 24 | $1.2B | $706.8M | ||
| Q2 24 | $1.1B | $693.0M |
| Q1 26 | — | $346.6M | ||
| Q4 25 | $109.4M | $139.9M | ||
| Q3 25 | $106.8M | $77.6M | ||
| Q2 25 | $88.0M | $151.2M | ||
| Q1 25 | $73.5M | $99.7M | ||
| Q4 24 | $103.3M | $94.1M | ||
| Q3 24 | $136.3M | $60.0M | ||
| Q2 24 | $98.6M | $66.6M |
| Q1 26 | — | — | ||
| 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 26 | — | 37.4% | ||
| Q4 25 | 10.6% | 35.4% | ||
| Q3 25 | 10.4% | 21.8% | ||
| Q2 25 | 9.3% | 34.7% | ||
| Q1 25 | 7.6% | 26.7% | ||
| Q4 24 | 10.9% | 24.3% | ||
| Q3 24 | 15.2% | 20.8% | ||
| Q2 24 | 10.5% | 22.4% |
| Q1 26 | — | 31.6% | ||
| Q4 25 | 7.8% | 14.4% | ||
| Q3 25 | 7.7% | 9.4% | ||
| Q2 25 | 6.5% | 15.1% | ||
| Q1 25 | 5.6% | 11.9% | ||
| Q4 24 | 8.3% | 11.3% | ||
| Q3 24 | 11.7% | 8.5% | ||
| Q2 24 | 8.6% | 9.6% |
| Q1 26 | — | $1.99 | ||
| Q4 25 | $1.97 | $1.54 | ||
| Q3 25 | $1.91 | $0.86 | ||
| Q2 25 | $1.56 | $1.65 | ||
| Q1 25 | $1.28 | $1.08 | ||
| Q4 24 | $1.80 | $1.03 | ||
| Q3 24 | $2.37 | $0.64 | ||
| Q2 24 | $1.70 | $0.71 |
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 | $973.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.7B | $2.2B |
| Total Assets | $4.9B | $25.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $973.2M | ||
| Q4 25 | $1.3B | $1.1B | ||
| Q3 25 | $1.2B | $707.9M | ||
| Q2 25 | $1.0B | $752.1M | ||
| Q1 25 | $1.2B | $723.6M | ||
| Q4 24 | $1.3B | $872.5M | ||
| Q3 24 | $2.1B | $701.4M | ||
| Q2 24 | $1.8B | $684.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $3.7B | $1.6B | ||
| Q3 25 | $3.7B | $1.5B | ||
| Q2 25 | $3.7B | $1.4B | ||
| Q1 25 | $3.6B | $1.3B | ||
| Q4 24 | $3.6B | $1.3B | ||
| Q3 24 | $3.6B | $1.2B | ||
| Q2 24 | $3.4B | $1.2B |
| Q1 26 | — | $25.1B | ||
| Q4 25 | $4.9B | $20.2B | ||
| Q3 25 | $4.8B | $21.3B | ||
| Q2 25 | $4.7B | $19.3B | ||
| Q1 25 | $4.7B | $17.5B | ||
| Q4 24 | $4.8B | $15.4B | ||
| Q3 24 | $4.5B | $14.4B | ||
| Q2 24 | $4.2B | $13.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.29× | ||
| Q3 25 | — | 1.40× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | — | 1.33× | ||
| Q4 24 | — | 1.39× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.41× |
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% | — |
| 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 | $518.4M | ||
| Q3 25 | $294.7M | $-68.7M | ||
| Q2 25 | $53.2M | $62.8M | ||
| Q1 25 | $24.2M | $15.0M | ||
| Q4 24 | $130.3M | $599.0M | ||
| Q3 24 | $242.0M | $112.1M | ||
| Q2 24 | $57.0M | $490.8M |
| Q1 26 | — | — | ||
| Q4 25 | $268.1M | $495.6M | ||
| Q3 25 | $286.4M | $-76.7M | ||
| Q2 25 | $43.4M | $57.6M | ||
| Q1 25 | $14.8M | $9.2M | ||
| Q4 24 | $114.5M | $586.6M | ||
| Q3 24 | $237.0M | $106.2M | ||
| Q2 24 | $52.3M | $486.9M |
| Q1 26 | — | — | ||
| Q4 25 | 19.0% | 51.1% | ||
| Q3 25 | 20.5% | -9.3% | ||
| Q2 25 | 3.2% | 5.8% | ||
| Q1 25 | 1.1% | 1.1% | ||
| Q4 24 | 9.2% | 70.3% | ||
| Q3 24 | 20.3% | 15.0% | ||
| Q2 24 | 4.6% | 70.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 2.4% | ||
| Q3 25 | 0.6% | 1.0% | ||
| Q2 25 | 0.7% | 0.5% | ||
| Q1 25 | 0.7% | 0.7% | ||
| Q4 24 | 1.3% | 1.5% | ||
| Q3 24 | 0.4% | 0.8% | ||
| Q2 24 | 0.4% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.59× | 3.71× | ||
| Q3 25 | 2.76× | -0.89× | ||
| Q2 25 | 0.60× | 0.42× | ||
| Q1 25 | 0.33× | 0.15× | ||
| Q4 24 | 1.26× | 6.37× | ||
| Q3 24 | 1.77× | 1.87× | ||
| Q2 24 | 0.58× | 7.37× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EPAM
Segment breakdown not available.
VIRT
| Trading income, net | $789.1M | 72% |
| Commissions, net and technology services | $186.6M | 17% |
| Other | $119.6M | 11% |
