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Side-by-side financial comparison of EPAM Systems (EPAM) and VIASAT INC (VSAT). 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 1.2× VIASAT INC). EPAM Systems runs the higher net margin — 7.8% vs 2.2%, a 5.6% gap on every dollar of revenue. On growth, EPAM Systems posted the faster year-over-year revenue change (12.8% vs 3.0%). Over the past eight quarters, EPAM Systems's revenue compounded faster (9.9% CAGR vs 0.3%).
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.
Viasat, Inc. is an American communications company based in Carlsbad, California, with additional operations across the United States and worldwide. Viasat is a provider of high-speed satellite broadband services and secure networking systems covering military and commercial markets.
EPAM vs VSAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.2B |
| Net Profit | $109.4M | $25.0M |
| Gross Margin | 30.1% | — |
| Operating Margin | 10.6% | 2.3% |
| Net Margin | 7.8% | 2.2% |
| Revenue YoY | 12.8% | 3.0% |
| Net Profit YoY | 5.9% | 115.8% |
| EPS (diluted) | $1.97 | $0.18 |
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 | $1.1B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.2B | $1.1B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.1B | $1.1B | ||
| Q1 24 | $1.2B | $1.2B |
| Q4 25 | $109.4M | $25.0M | ||
| Q3 25 | $106.8M | $-61.4M | ||
| Q2 25 | $88.0M | $-56.4M | ||
| Q1 25 | $73.5M | $-246.1M | ||
| Q4 24 | $103.3M | $-158.4M | ||
| Q3 24 | $136.3M | $-137.6M | ||
| Q2 24 | $98.6M | $-32.9M | ||
| Q1 24 | $116.2M | $-100.3M |
| 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% | 2.3% | ||
| Q3 25 | 10.4% | 3.1% | ||
| Q2 25 | 9.3% | 4.0% | ||
| Q1 25 | 7.6% | -13.4% | ||
| Q4 24 | 10.9% | 1.9% | ||
| Q3 24 | 15.2% | -2.2% | ||
| Q2 24 | 10.5% | 5.3% | ||
| Q1 24 | 9.5% | 0.0% |
| Q4 25 | 7.8% | 2.2% | ||
| Q3 25 | 7.7% | -5.4% | ||
| Q2 25 | 6.5% | -4.8% | ||
| Q1 25 | 5.6% | -21.5% | ||
| Q4 24 | 8.3% | -14.1% | ||
| Q3 24 | 11.7% | -12.3% | ||
| Q2 24 | 8.6% | -2.9% | ||
| Q1 24 | 10.0% | -8.7% |
| Q4 25 | $1.97 | $0.18 | ||
| Q3 25 | $1.91 | $-0.45 | ||
| Q2 25 | $1.56 | $-0.43 | ||
| Q1 25 | $1.28 | $-1.92 | ||
| Q4 24 | $1.80 | $-1.23 | ||
| Q3 24 | $2.37 | $-1.07 | ||
| Q2 24 | $1.70 | $-0.26 | ||
| Q1 24 | $1.97 | $-1.14 |
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 | — | $6.2B |
| Stockholders' EquityBook value | $3.7B | $4.6B |
| Total Assets | $4.9B | $14.9B |
| Debt / EquityLower = less leverage | — | 1.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $1.2B | $1.6B | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $2.1B | $3.5B | ||
| Q2 24 | $1.8B | $1.8B | ||
| Q1 24 | $2.0B | $1.9B |
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | $6.5B | ||
| Q2 25 | — | $6.5B | ||
| Q1 25 | — | $6.5B | ||
| Q4 24 | — | $6.5B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $7.1B | ||
| Q1 24 | — | $7.1B |
| Q4 25 | $3.7B | $4.6B | ||
| Q3 25 | $3.7B | $4.5B | ||
| Q2 25 | $3.7B | $4.6B | ||
| Q1 25 | $3.6B | $4.6B | ||
| Q4 24 | $3.6B | $4.8B | ||
| Q3 24 | $3.6B | $4.9B | ||
| Q2 24 | $3.4B | $5.0B | ||
| Q1 24 | $3.5B | $5.0B |
| Q4 25 | $4.9B | $14.9B | ||
| Q3 25 | $4.8B | $14.8B | ||
| Q2 25 | $4.7B | $14.9B | ||
| Q1 25 | $4.7B | $15.4B | ||
| Q4 24 | $4.8B | $15.6B | ||
| Q3 24 | $4.5B | $17.8B | ||
| Q2 24 | $4.2B | $16.1B | ||
| Q1 24 | $4.4B | $16.3B |
| Q4 25 | — | 1.37× | ||
| Q3 25 | — | 1.44× | ||
| Q2 25 | — | 1.43× | ||
| Q1 25 | — | 1.43× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 1.30× | ||
| Q2 24 | — | 1.42× | ||
| Q1 24 | — | 1.42× |
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 | $726.9M |
| Free Cash FlowOCF − Capex | $268.1M | — |
| FCF MarginFCF / Revenue | 19.0% | — |
| Capex IntensityCapex / Revenue | 1.1% | — |
| Cash ConversionOCF / Net Profit | 2.59× | 29.11× |
| TTM Free Cash FlowTrailing 4 quarters | $612.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.9M | $726.9M | ||
| Q3 25 | $294.7M | $282.2M | ||
| Q2 25 | $53.2M | $258.5M | ||
| Q1 25 | $24.2M | $298.4M | ||
| Q4 24 | $130.3M | $219.5M | ||
| Q3 24 | $242.0M | $239.2M | ||
| Q2 24 | $57.0M | $151.1M | ||
| Q1 24 | $129.9M | $232.0M |
| 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× | 29.11× | ||
| Q3 25 | 2.76× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.77× | — | ||
| Q2 24 | 0.58× | — | ||
| 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.
VSAT
| Products | $334.2M | 29% |
| Aviation Services | $303.7M | 26% |
| Government Satcom Services | $202.4M | 17% |
| Maritime Services | $114.9M | 10% |
| Information Security And Cyber Defense Products | $97.0M | 8% |
| Tactical Networking Products | $93.9M | 8% |
| Navarino Uk And Jsat Mobile | $15.5M | 1% |
| Advanced Technologies And Other Products | $6.1M | 1% |
