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EPAM Systems vs Infosys: revenue, profit, margins and growth compared

EPAM Systems brought in $5.5B of revenue in fiscal 2025, Infosys $19.3B in fiscal 2025. Revenue changed by +15.4% at EPAM Systems and +3.9% at Infosys on the year before, so EPAM Systems grew faster. EPAM Systems kept 6.9% of its revenue as net profit, Infosys 16.4%.

Side by side, latest fiscal year

EPAMINFY
Fiscal year endedFY2025 (December 31, 2025)FY2025 (March 31, 2025)
Revenue$5.5B$19.3B
Revenue growth+15.4%+3.9%
Net income$377.7M$3.2B
Net margin6.9%16.4%
Free cash flow$612.7Mn/a
Free cash flow margin11.2%n/a
Earnings per share (diluted)$6.72$0.76
Cash$1.3B$2.9B
Debt$25Mn/a
Price to earnings16.1n/a
Market value$5.6B$42.6B
Dividend yieldn/an/a
Rank by revenue in sector#85 of 530 · Technology#38 of 530 · Technology

Over the years

Revenue
EPAM FY2018: $1.8BEPAM FY2019: $2.3BEPAM FY2020: $2.7BEPAM FY2021: $3.8BEPAM FY2022: $4.8BEPAM FY2023: $4.7BEPAM FY2024: $4.7BEPAM FY2025: $5.5BINFY FY2018: $10.9BINFY FY2019: $11.8BINFY FY2020: $12.8BINFY FY2021: $13.6BINFY FY2022: $16.3BINFY FY2023: $18.2BINFY FY2024: $18.6BINFY FY2025: $19.3BFY18FY19FY20FY21FY22FY23FY24FY25
EPAM $5.5BINFY $19.3B
Net income
EPAM FY2018: $240.3MEPAM FY2019: $261.1MEPAM FY2020: $327.2MEPAM FY2021: $481.7MEPAM FY2022: $419.4MEPAM FY2023: $417.1MEPAM FY2024: $454.5MEPAM FY2025: $377.7MINFY FY2018: $2.5BINFY FY2019: $2.2BINFY FY2020: $2.3BINFY FY2021: $2.6BINFY FY2022: $3BINFY FY2023: $3BINFY FY2024: $3.2BINFY FY2025: $3.2BFY18FY19FY20FY21FY22FY23FY24FY25
EPAM $377.7MINFY $3.2B
Net margin
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%INFY FY2018: 22.7%INFY FY2019: 18.6%INFY FY2020: 18.2%INFY FY2021: 19.3%INFY FY2022: 18.2%INFY FY2023: 16.4%INFY FY2024: 17.1%INFY FY2025: 16.4%FY18FY19FY20FY21FY22FY23FY24FY25
EPAM 6.9%INFY 16.4%
Revenue growth
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%INFY FY2019: +7.9%INFY FY2020: +8.3%INFY FY2021: +6.1%INFY FY2022: +20.3%INFY FY2023: +11.7%INFY FY2024: +1.9%INFY FY2025: +3.9%FY19FY20FY21FY22FY23FY24FY25
EPAM +15.4%INFY +3.9%
Free cash flow
EPAM FY2018: $254.6MEPAM FY2019: $188.1MEPAM FY2020: $475.6MEPAM FY2021: $460.8MEPAM FY2022: $382.5MEPAM FY2023: $534.2MEPAM FY2024: $527MEPAM FY2025: $612.7MINFY FY2018: $1.9BINFY FY2019: $1.9BINFY FY2020: $2.1BFY18FY19FY20FY21FY22FY23FY24FY25
EPAM $612.7MINFY $2.1B

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

Questions about EPAM Systems and Infosys

Which is bigger by revenue, EPAM Systems or Infosys?

Infosys is bigger by revenue: $19.3B in fiscal 2025, against $5.5B for EPAM Systems in fiscal 2025.

Which keeps more of its revenue as profit, EPAM Systems or Infosys?

EPAM Systems had a net margin of 6.9% in fiscal 2025; Infosys had 16.4% in fiscal 2025.

Which grew revenue faster, EPAM Systems or Infosys?

In their latest fiscal years revenue changed by +15.4% at EPAM Systems and +3.9% at Infosys.

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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