EPAM Systems Inc Income Statement - Real Clear Investing

Selected Year:

31-Dec
2020

Gross receipts in the form of cash (great!) and promises to pay (Account Receivables - not so great as some of them will never be collected but reality of business!) from all its customers

	2009 31-Dec	2010 31-Dec	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Total Revenue	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	1,450,448	1,842,912	2,293,798	2,659,478	2,659,478	2,893,972

Selected Year:

31-Dec
2020

Cost (labor, materials, depreciation, overhead, etc) for delivering service or manufacturing a product that business sells

85.7%

	2009 31-Dec	2010 31-Dec	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Cost of revenue excluding depreciation and amortization Cost of revenue excluding depreciation and amortization	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	921,352	1,186,921	1,488,198	1,732,522	1,732,522	1,863,168
Selling general and administrative	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	327,588	373,587	457,433	484,758	484,758	515,716
Depreciation and amortization	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	28,562	36,640	45,317	62,874	62,874	67,116
Goodwill impairment	45,679	45,679	45,679	45,679	45,679	45,679	-	-	-	-	-	-	-	-
Change in fair value of contingent consideration	-	-	-	45,679	45,679	45,679	-	-	-	-	-	-	-	-
Other operating income or expenses	45,679	45,679	45,679	45,679	45,679	45,679	45,679	-	-	-	-	-	-	-
Total operating expenses	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	1,277,502	1,597,148	1,990,948	2,280,154	2,280,154	2,446,000

Selected Year:

31-Dec
2020

Income after excluding Operating Expenses from Total Revenue

14.3%

Key metric that shows earnings potential of the company's business model

	2009 31-Dec	2010 31-Dec	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Operating income	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$172,946	$245,764	$302,850	$379,324	$379,324	$447,972

Selected Year:

31-Dec
2020

Cost usually unrelated to delivering service or manufacturing a product that business sells

0.2%

	2009 31-Dec	2010 31-Dec	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year:	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Foreign exchange gain (loss)	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	(3,242)	487	(12,049)	(4,667)	(4,667)	(31,680)
Other income	45,679	-	-	-	-	-	-	-	-	-	-	-	-	-
Total non-operating income (expense)	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	(3,242)	487	(12,049)	(4,667)	(4,667)	(31,680)

Selected Year:

31-Dec
2020

Income after excluding Operating and Non-operating Expenses from Total Revenue

14.1%

Another income metric but unlike Operating Income it is closer to the ultimate income metric - Net Income by removing expenses that are not related to earning Revenue as they are supposed to be accidental and transitory

	2009 31-Dec	2010 31-Dec	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
EBIT	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$169,704	$246,251	$290,801	$374,657	$374,657	$416,292

Selected Year:

31-Dec
2020

Expenses driven mostly by company management's choices, nature of business (capital intensive vs not) about financing (debt vs equity) and legal structure

1.8%

	2009 31-Dec	2010 31-Dec	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Interest expense	45,679	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income	45,679	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest and other income	-	45,679	45,679	45,679	45,679	45,679	45,679	45,679	4,601	3,522	8,725	3,822	3,822	(8,212)
Income before income taxes	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	174,305	249,773	299,526	378,479	378,479	408,080
Income tax expense or benefit TEST - ODD	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	101,545	9,517	38,469	51,319	51,319	65,924

Selected Year:

31-Dec
2020

Ultimate measure of Income - Net result after excluding all expenses from Total Revenue

12.3%

It is a residue that is left from Total Revenue after paying all kind of expenses and belongs to all equity holders in the company. Some of these shareholders such Non-controlling interest or Preferred equity gets their share before Common shareholders

	2009 31-Dec	2010 31-Dec	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Net income (loss)	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$72,760	$240,256	$261,057	$327,160	$327,160	$342,156
Foreign currency translation	-	-	-	45,679	45,679	45,679	45,679	45,679	20,065	(21,338)	6,295	-	-	-
Unrealized gain (loss) on cash flow hedge	-	-	-	-	-	-	-	45,679	-	(2,553)	-	-	-	-
Comprehensive income (loss)	-	45,679	45,679	45,679	45,679	45,679	45,679	45,679	92,825	216,365	271,197	-	-	-
Net income attributable to participating securities	45,679	45,679	45,679	45,679	-	-	-	-	-	-	-	-	-	-
Net income (loss) attributable to common stock	45,679	45,679	45,679	45,679	-	-	-	-	-	-	-	-	-	-
Cumulative translation adjustment	-	45,679	45,679	-	-	-	-	-	-	-	-	-	-	-
Preferred stock accretion	45,679	45,679	45,679	-	-	-	-	-	-	-	-	-	-	-
Preferred stock redemption effect	45,679	45,679	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on cash flow hedge	-	-	-	-	-	-	-	-	-	(2,553)	3,845	-	-	-

Basic shares outstanding as of certain dates reported by Company on its annual and quarterly filings, these numbers are NOT used calculation of basic EPS. They help to see share issuance by company in perspective

	2009 31-Dec	2010 31-Dec	2012 15-Mar	2013 01-Mar	2014 01-Mar	2015 24-Feb	2016 10-Feb	2017 10-Feb	2018 12-Feb	2019 12-Feb	2020 12-Feb	2021 12-Feb	2021 12-Feb	2021 12-Feb
Common	-	-	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	53,039,832	54,177,444	55,259,184	56,179,461	56,179,461	56,179,461

Selected Year:

31-Dec
2020

Net Income / Shares Outstanding = EPS before dilution or Basic EPS; Net Income/ ( Shares Outstanding + potentially available shares from conversion of various option instruments)

	2009 31-Dec	2010 31-Dec	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	2019 31-Dec	Selected Year: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Net Income per basic share	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$1.40	$4.48	$4.77	$5.87	$5.87	$6.12
Net Income per diluted share	-	-	-	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$1.32	$4.24	$4.53	$5.60	$5.60	$5.84

EPAM Systems Inc

Short Description

Income Statement

Cost of revenue excluding depreciation and amortization

Selling general and administrative

Depreciation and amortization

Operating Income

Foreign exchange gain (loss)

EBIT

Interest and other income

Income tax expense or benefit

Net income (loss)