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Cognizant Technology Solutions vs EPAM Systems: revenue, profit, margins and growth compared

Cognizant Technology Solutions brought in $21.1B of revenue in fiscal 2025, EPAM Systems $5.5B in fiscal 2025. Revenue changed by +7.0% at Cognizant Technology Solutions and +15.4% at EPAM Systems on the year before, so EPAM Systems grew faster. Cognizant Technology Solutions kept 10.6% of its revenue as net profit, EPAM Systems 6.9%. Free cash flow was $2.6B at Cognizant Technology Solutions and $612.7M at EPAM Systems.

Open the CTSH pageOpen the EPAM page

Side by side, latest fiscal year

CTSHEPAM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$21.1B$5.5B
Revenue growth+7.0%+15.4%
Net income$2.2B$377.7M
Net margin10.6%6.9%
Free cash flow$2.6B$612.7M
Free cash flow margin12.3%11.2%
Earnings per share (diluted)$4.56$6.72
Cash$1.9B$1.3B
Debt$543M$25M
Price to earnings12.616.1
Market value$25.8B$5.6B
Dividend yield2.16%n/a
Rank by revenue in sector#35 of 530 · Technology#85 of 530 · Technology

Over the years

Revenue
CTSH FY2018: $16.1BCTSH FY2019: $16.8BCTSH FY2020: $16.7BCTSH FY2021: $18.5BCTSH FY2022: $19.4BCTSH FY2023: $19.4BCTSH FY2024: $19.7BCTSH FY2025: $21.1BEPAM FY2018: $1.8BEPAM FY2019: $2.3BEPAM FY2020: $2.7BEPAM FY2021: $3.8BEPAM FY2022: $4.8BEPAM FY2023: $4.7BEPAM FY2024: $4.7BEPAM FY2025: $5.5BFY18FY19FY20FY21FY22FY23FY24FY25
CTSH $21.1BEPAM $5.5B
Net income
CTSH FY2018: $2.1BCTSH FY2019: $1.8BCTSH FY2020: $1.4BCTSH FY2021: $2.1BCTSH FY2022: $2.3BCTSH FY2023: $2.1BCTSH FY2024: $2.2BCTSH FY2025: $2.2BEPAM FY2018: $240.3MEPAM FY2019: $261.1MEPAM FY2020: $327.2MEPAM FY2021: $481.7MEPAM FY2022: $419.4MEPAM FY2023: $417.1MEPAM FY2024: $454.5MEPAM FY2025: $377.7MFY18FY19FY20FY21FY22FY23FY24FY25
CTSH $2.2BEPAM $377.7M
Net margin
CTSH FY2018: 13.0%CTSH FY2019: 11.0%CTSH FY2020: 8.4%CTSH FY2021: 11.5%CTSH FY2022: 11.8%CTSH FY2023: 11.0%CTSH FY2024: 11.3%CTSH FY2025: 10.6%EPAM FY2018: 13.0%EPAM FY2019: 11.4%EPAM FY2020: 12.3%EPAM FY2021: 12.8%EPAM FY2022: 8.7%EPAM FY2023: 8.9%EPAM FY2024: 9.6%EPAM FY2025: 6.9%FY18FY19FY20FY21FY22FY23FY24FY25
CTSH 10.6%EPAM 6.9%
Revenue growth
CTSH FY2019: +4.1%CTSH FY2020: -0.8%CTSH FY2021: +11.1%CTSH FY2022: +5.0%CTSH FY2023: -0.4%CTSH FY2024: +2.0%CTSH FY2025: +7.0%EPAM FY2019: +24.5%EPAM FY2020: +15.9%EPAM FY2021: +41.3%EPAM FY2022: +28.4%EPAM FY2023: -2.8%EPAM FY2024: +0.8%EPAM FY2025: +15.4%FY19FY20FY21FY22FY23FY24FY25
CTSH +7.0%EPAM +15.4%
Free cash flow
CTSH FY2018: $2.2BCTSH FY2019: $2.1BCTSH FY2020: $2.9BCTSH FY2021: $2.2BCTSH FY2022: $2.2BCTSH FY2023: $2BCTSH FY2024: $1.8BCTSH FY2025: $2.6BEPAM FY2018: $254.6MEPAM FY2019: $188.1MEPAM FY2020: $475.6MEPAM FY2021: $460.8MEPAM FY2022: $382.5MEPAM FY2023: $534.2MEPAM FY2024: $527MEPAM FY2025: $612.7MFY18FY19FY20FY21FY22FY23FY24FY25
CTSH $2.6BEPAM $612.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Cognizant Technology Solutions and EPAM Systems

Which is bigger by revenue, Cognizant Technology Solutions or EPAM Systems?

Cognizant Technology Solutions is bigger by revenue: $21.1B in fiscal 2025, against $5.5B for EPAM Systems in fiscal 2025.

Which keeps more of its revenue as profit, Cognizant Technology Solutions or EPAM Systems?

Cognizant Technology Solutions had a net margin of 10.6% in fiscal 2025; EPAM Systems had 6.9% in fiscal 2025.

Which grew revenue faster, Cognizant Technology Solutions or EPAM Systems?

In their latest fiscal years revenue changed by +7.0% at Cognizant Technology Solutions and +15.4% at EPAM Systems.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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