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Side-by-side financial comparison of EPAM Systems (EPAM) and ZIONS BANCORPORATION, NATIONAL ASSOCIATION (ZION). Click either name above to swap in a different company.
EPAM Systems is the larger business by last-quarter revenue ($1.4B vs $891.0M, roughly 1.6× ZIONS BANCORPORATION, NATIONAL ASSOCIATION). ZIONS BANCORPORATION, NATIONAL ASSOCIATION runs the higher net margin — 29.5% vs 7.8%, a 21.7% gap on every dollar of revenue. On growth, EPAM Systems posted the faster year-over-year revenue change (12.8% vs 8.7%). ZIONS BANCORPORATION, NATIONAL ASSOCIATION produced more free cash flow last quarter ($952.0M vs $268.1M). Over the past eight quarters, EPAM Systems's revenue compounded faster (9.9% CAGR vs 9.6%).
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.
Zions Bancorporation is an American national bank headquartered in Salt Lake City, Utah. It operates as a national bank rather than as a bank holding company and does business under the following seven brands: Zions Bank, Amegy Bank of Texas, California Bank and Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and the Commerce Bank of Washington.
EPAM vs ZION — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $891.0M |
| Net Profit | $109.4M | $263.0M |
| Gross Margin | 30.1% | — |
| Operating Margin | 10.6% | — |
| Net Margin | 7.8% | 29.5% |
| Revenue YoY | 12.8% | 8.7% |
| Net Profit YoY | 5.9% | 21.8% |
| EPS (diluted) | $1.97 | $1.77 |
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 | $891.0M | ||
| Q3 25 | $1.4B | $861.0M | ||
| Q2 25 | $1.4B | $838.0M | ||
| Q1 25 | $1.3B | $795.0M | ||
| Q4 24 | $1.2B | $820.0M | ||
| Q3 24 | $1.2B | $792.0M | ||
| Q2 24 | $1.1B | $777.0M | ||
| Q1 24 | $1.2B | $742.0M |
| Q4 25 | $109.4M | $263.0M | ||
| Q3 25 | $106.8M | $222.0M | ||
| Q2 25 | $88.0M | $244.0M | ||
| Q1 25 | $73.5M | $170.0M | ||
| Q4 24 | $103.3M | $216.0M | ||
| Q3 24 | $136.3M | $214.0M | ||
| Q2 24 | $98.6M | $201.0M | ||
| Q1 24 | $116.2M | $153.0M |
| 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% | 29.5% | ||
| Q3 25 | 7.7% | 25.8% | ||
| Q2 25 | 6.5% | 29.1% | ||
| Q1 25 | 5.6% | 21.4% | ||
| Q4 24 | 8.3% | 26.3% | ||
| Q3 24 | 11.7% | 27.0% | ||
| Q2 24 | 8.6% | 25.9% | ||
| Q1 24 | 10.0% | 20.6% |
| Q4 25 | $1.97 | $1.77 | ||
| Q3 25 | $1.91 | $1.48 | ||
| Q2 25 | $1.56 | $1.63 | ||
| Q1 25 | $1.28 | $1.13 | ||
| Q4 24 | $1.80 | $1.34 | ||
| Q3 24 | $2.37 | $1.37 | ||
| Q2 24 | $1.70 | $1.28 | ||
| Q1 24 | $1.97 | $0.96 |
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 | — |
| Total DebtLower is stronger | — | $1.5B |
| Stockholders' EquityBook value | $3.7B | $7.2B |
| Total Assets | $4.9B | $89.0B |
| Debt / EquityLower = less leverage | — | 0.21× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $2.0B | — |
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $970.0M | ||
| Q1 25 | — | $964.0M | ||
| Q4 24 | — | $950.0M | ||
| Q3 24 | — | $548.0M | ||
| Q2 24 | — | $546.0M | ||
| Q1 24 | — | $544.0M |
| Q4 25 | $3.7B | $7.2B | ||
| Q3 25 | $3.7B | $6.9B | ||
| Q2 25 | $3.7B | $6.6B | ||
| Q1 25 | $3.6B | $6.3B | ||
| Q4 24 | $3.6B | $6.1B | ||
| Q3 24 | $3.6B | $6.4B | ||
| Q2 24 | $3.4B | $6.0B | ||
| Q1 24 | $3.5B | $5.8B |
| Q4 25 | $4.9B | $89.0B | ||
| Q3 25 | $4.8B | $88.5B | ||
| Q2 25 | $4.7B | $88.9B | ||
| Q1 25 | $4.7B | $88.0B | ||
| Q4 24 | $4.8B | $88.8B | ||
| Q3 24 | $4.5B | $87.0B | ||
| Q2 24 | $4.2B | $87.6B | ||
| Q1 24 | $4.4B | $87.1B |
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | 0.21× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.09× | ||
| Q2 24 | — | 0.09× | ||
| Q1 24 | — | 0.09× |
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 | $1.1B |
| Free Cash FlowOCF − Capex | $268.1M | $952.0M |
| FCF MarginFCF / Revenue | 19.0% | 106.8% |
| Capex IntensityCapex / Revenue | 1.1% | 13.6% |
| Cash ConversionOCF / Net Profit | 2.59× | 4.08× |
| TTM Free Cash FlowTrailing 4 quarters | $612.7M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.9M | $1.1B | ||
| Q3 25 | $294.7M | $438.0M | ||
| Q2 25 | $53.2M | $-62.0M | ||
| Q1 25 | $24.2M | $179.0M | ||
| Q4 24 | $130.3M | $1.1B | ||
| Q3 24 | $242.0M | $119.0M | ||
| Q2 24 | $57.0M | $251.0M | ||
| Q1 24 | $129.9M | $261.0M |
| Q4 25 | $268.1M | $952.0M | ||
| Q3 25 | $286.4M | $413.0M | ||
| Q2 25 | $43.4M | $-93.0M | ||
| Q1 25 | $14.8M | $152.0M | ||
| Q4 24 | $114.5M | $1.1B | ||
| Q3 24 | $237.0M | $97.0M | ||
| Q2 24 | $52.3M | $234.0M | ||
| Q1 24 | $123.2M | $231.0M |
| Q4 25 | 19.0% | 106.8% | ||
| Q3 25 | 20.5% | 48.0% | ||
| Q2 25 | 3.2% | -11.1% | ||
| Q1 25 | 1.1% | 19.1% | ||
| Q4 24 | 9.2% | 128.2% | ||
| Q3 24 | 20.3% | 12.2% | ||
| Q2 24 | 4.6% | 30.1% | ||
| Q1 24 | 10.6% | 31.1% |
| Q4 25 | 1.1% | 13.6% | ||
| Q3 25 | 0.6% | 2.9% | ||
| Q2 25 | 0.7% | 3.7% | ||
| Q1 25 | 0.7% | 3.4% | ||
| Q4 24 | 1.3% | 11.8% | ||
| Q3 24 | 0.4% | 2.8% | ||
| Q2 24 | 0.4% | 2.2% | ||
| Q1 24 | 0.6% | 4.0% |
| Q4 25 | 2.59× | 4.08× | ||
| Q3 25 | 2.76× | 1.97× | ||
| Q2 25 | 0.60× | -0.25× | ||
| Q1 25 | 0.33× | 1.05× | ||
| Q4 24 | 1.26× | 5.31× | ||
| Q3 24 | 1.77× | 0.56× | ||
| Q2 24 | 0.58× | 1.25× | ||
| Q1 24 | 1.12× | 1.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
