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Side-by-side financial comparison of EPAM Systems (EPAM) and NCR Voyix Corp (VYX). Click either name above to swap in a different company.
EPAM Systems is the larger business by last-quarter revenue ($1.4B vs $720.0M, roughly 2.0× NCR Voyix Corp). NCR Voyix Corp runs the higher net margin — 13.6% vs 7.8%, a 5.8% gap on every dollar of revenue. On growth, EPAM Systems posted the faster year-over-year revenue change (12.8% vs 6.2%). Over the past eight quarters, EPAM Systems's revenue compounded faster (9.9% CAGR vs 0.7%).
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.
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
EPAM vs VYX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $720.0M |
| Net Profit | $109.4M | $98.0M |
| Gross Margin | 30.1% | — |
| Operating Margin | 10.6% | 2.4% |
| Net Margin | 7.8% | 13.6% |
| Revenue YoY | 12.8% | 6.2% |
| Net Profit YoY | 5.9% | 990.9% |
| EPS (diluted) | $1.97 | $0.64 |
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 | $720.0M | ||
| Q3 25 | $1.4B | $684.0M | ||
| Q2 25 | $1.4B | $666.0M | ||
| Q1 25 | $1.3B | $617.0M | ||
| Q4 24 | $1.2B | $678.0M | ||
| Q3 24 | $1.2B | $708.0M | ||
| Q2 24 | $1.1B | $722.0M | ||
| Q1 24 | $1.2B | $710.0M |
| Q4 25 | $109.4M | $98.0M | ||
| Q3 25 | $106.8M | $-19.0M | ||
| Q2 25 | $88.0M | $0 | ||
| Q1 25 | $73.5M | $-17.0M | ||
| Q4 24 | $103.3M | $-11.0M | ||
| Q3 24 | $136.3M | $1.1B | ||
| Q2 24 | $98.6M | $-73.0M | ||
| Q1 24 | $116.2M | $-40.0M |
| Q4 25 | 30.1% | — | ||
| Q3 25 | 29.5% | — | ||
| Q2 25 | 28.8% | — | ||
| Q1 25 | 26.9% | — | ||
| Q4 24 | 30.4% | — | ||
| Q3 24 | 34.6% | 23.4% | ||
| Q2 24 | 29.3% | 17.5% | ||
| Q1 24 | 28.4% | 19.4% |
| Q4 25 | 10.6% | 2.4% | ||
| Q3 25 | 10.4% | 2.2% | ||
| Q2 25 | 9.3% | 2.1% | ||
| Q1 25 | 7.6% | -3.2% | ||
| Q4 24 | 10.9% | -0.1% | ||
| Q3 24 | 15.2% | 2.3% | ||
| Q2 24 | 10.5% | -4.7% | ||
| Q1 24 | 9.5% | -2.7% |
| Q4 25 | 7.8% | 13.6% | ||
| Q3 25 | 7.7% | -2.8% | ||
| Q2 25 | 6.5% | — | ||
| Q1 25 | 5.6% | -2.8% | ||
| Q4 24 | 8.3% | -1.6% | ||
| Q3 24 | 11.7% | 152.8% | ||
| Q2 24 | 8.6% | -10.1% | ||
| Q1 24 | 10.0% | -5.6% |
| Q4 25 | $1.97 | $0.64 | ||
| Q3 25 | $1.91 | $-0.16 | ||
| Q2 25 | $1.56 | $-0.03 | ||
| Q1 25 | $1.28 | $-0.15 | ||
| Q4 24 | $1.80 | $-0.05 | ||
| Q3 24 | $2.37 | $7.41 | ||
| Q2 24 | $1.70 | $-0.53 | ||
| Q1 24 | $1.97 | $-0.31 |
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 | $231.0M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $3.7B | $948.0M |
| Total Assets | $4.9B | $3.9B |
| Debt / EquityLower = less leverage | — | 1.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $231.0M | ||
| Q3 25 | $1.2B | $282.0M | ||
| Q2 25 | $1.0B | $276.0M | ||
| Q1 25 | $1.2B | $573.0M | ||
| Q4 24 | $1.3B | $722.0M | ||
| Q3 24 | $2.1B | $792.0M | ||
| Q2 24 | $1.8B | $203.0M | ||
| Q1 24 | $2.0B | $241.0M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.7B | $948.0M | ||
| Q3 25 | $3.7B | $848.0M | ||
| Q2 25 | $3.7B | $867.0M | ||
| Q1 25 | $3.6B | $857.0M | ||
| Q4 24 | $3.6B | $933.0M | ||
| Q3 24 | $3.6B | $1.0B | ||
| Q2 24 | $3.4B | $-85.0M | ||
| Q1 24 | $3.5B | $-34.0M |
| Q4 25 | $4.9B | $3.9B | ||
| Q3 25 | $4.8B | $4.0B | ||
| Q2 25 | $4.7B | $4.0B | ||
| Q1 25 | $4.7B | $4.3B | ||
| Q4 24 | $4.8B | $4.5B | ||
| Q3 24 | $4.5B | $4.7B | ||
| Q2 24 | $4.2B | $4.8B | ||
| Q1 24 | $4.4B | $5.0B |
| Q4 25 | — | 1.17× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.18× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $60.0M |
| Free Cash FlowOCF − Capex | $268.1M | — |
| FCF MarginFCF / Revenue | 19.0% | — |
| Capex IntensityCapex / Revenue | 1.1% | — |
| Cash ConversionOCF / Net Profit | 2.59× | 0.61× |
| TTM Free Cash FlowTrailing 4 quarters | $612.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.9M | $60.0M | ||
| Q3 25 | $294.7M | $14.0M | ||
| Q2 25 | $53.2M | $-242.0M | ||
| Q1 25 | $24.2M | $-42.0M | ||
| Q4 24 | $130.3M | $-170.0M | ||
| Q3 24 | $242.0M | $11.0M | ||
| Q2 24 | $57.0M | $62.0M | ||
| Q1 24 | $129.9M | $-35.0M |
| Q4 25 | $268.1M | — | ||
| Q3 25 | $286.4M | $10.0M | ||
| Q2 25 | $43.4M | $-249.0M | ||
| Q1 25 | $14.8M | $-50.0M | ||
| Q4 24 | $114.5M | $-177.0M | ||
| Q3 24 | $237.0M | $9.0M | ||
| Q2 24 | $52.3M | $49.0M | ||
| Q1 24 | $123.2M | $-43.0M |
| Q4 25 | 19.0% | — | ||
| Q3 25 | 20.5% | 1.5% | ||
| Q2 25 | 3.2% | -37.4% | ||
| Q1 25 | 1.1% | -8.1% | ||
| Q4 24 | 9.2% | -26.1% | ||
| Q3 24 | 20.3% | 1.3% | ||
| Q2 24 | 4.6% | 6.8% | ||
| Q1 24 | 10.6% | -6.1% |
| Q4 25 | 1.1% | — | ||
| Q3 25 | 0.6% | 0.6% | ||
| Q2 25 | 0.7% | 1.1% | ||
| Q1 25 | 0.7% | 1.3% | ||
| Q4 24 | 1.3% | 1.0% | ||
| Q3 24 | 0.4% | 0.3% | ||
| Q2 24 | 0.4% | 1.8% | ||
| Q1 24 | 0.6% | 1.1% |
| Q4 25 | 2.59× | 0.61× | ||
| Q3 25 | 2.76× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.77× | 0.01× | ||
| 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.
VYX
| Services | $484.0M | 67% |
| Products | $236.0M | 33% |
