EPAM Systems vs NCR Voyix
EPAM Systems reported revenue of $5.5 billion in fiscal 2025, 2.0 times NCR Voyix's $2.7 billion in fiscal 2025. EPAM Systems' revenue grew 15.4% in its latest year, and NCR Voyix's fell 4.7%. EPAM Systems had an operating margin of 9.5%, against 1.0% at NCR Voyix. Free cash flow was $613 million at EPAM Systems and −$375 million at NCR Voyix.
Side by side
| EPAM Systems | NCR Voyix | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $5.5B | $2.7B |
| Revenue growth | 15.4% | −4.7% |
| Revenue growth a year, last 5 years | 15.5% | −15.4% |
| Gross margin | 28.8% | — |
| Operating margin | 9.5% | 1.0% |
| Net margin | 6.9% | 2.3% |
| Free cash flow | $613M | −$375M |
| Free cash flow margin | 11.2% | −14.0% |
| Return on capital | 16.3% | 1.3% |
| Net debt to EBITDA | −2.0x | 3.5x |
| Dividends and buybacks | $662M | $74M |
| Change in diluted share count | −3.0% | −2.5% |
| Last close | $159.31 | $9.75 |
| P/E at the last close | 19.9× | 13.5× |
| Insider trades, last 12 months | bought $7,500, sold $1.6 million | sold $104,550 |
| Piotroski F-score | 6 of 9 | 3 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
EPAM SystemsNCR Voyix
Operating margin
Percent of revenue
EPAM SystemsNCR Voyix
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
EPAM SystemsNCR Voyix
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the EPAM Systems and NCR Voyix pages.