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Intrinsic value of EPAM Systems, Inc. (EPAM)

Previous Close$320.39
Intrinsic Value
Upside potential
Previous Close
$320.39

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Cash & ST Investments
Total debt
Market cap, m$
18,214

Based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %41.3NaN
Revenue, $3758NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m3216NaN
Operating income, $m542NaN
EBITDA, $m687NaN
Interest expense (income), $mNaN
Earnings before tax, $m534NaN
Tax expense, $m52NaN
Net income, $m482NaN

BALANCE SHEET

Cash and short-term investments, $m1447NaN
Total assets, $m3523NaN
Adjusted assets (=assets-cash), $m2076NaN
Average production assets, $m858NaN
Working capital, $m1506NaN
Total debt, $m239NaN
Total liabilities, $m1036NaN
Total equity, $m2487NaN
Debt-to-equity ratio0.096NaN
Adjusted equity ratio0.533NaN

CASH FLOW

Net income, $m482NaN
Depreciation, amort., depletion, $m145NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m636NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-112NaN
Free cash flow, $m748NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m1506
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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