EPAM
EPAM Systems, Inc.
EPAM has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over EPAM overall, supported by stronger fundamentals and stronger modeled upside.
EPAM Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
EPAM's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
EPAM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $164 | — |
| Current | 21x | $164 | — |
| Cheap | 24x | $188 | +15% |
| Fair | 36x | $291 | +78% |
| Expensive | 65x | $517 | +216% |
Historical ranges are pointers, not guarantees.
EPAM's PE is in its cheap range at 21x. If earnings grow as analysts expect, today's price would be 12x next year's earnings.
SNDK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 3.8x | $937 | — |
| Current | 7.5x | $937 | — |
| Cheap | 17x | $2,173 | +132% |
| Fair | 24x | $3,048 | +225% |
| Expensive | 59x | $7,452 | +695% |
Historical ranges are pointers, not guarantees.
SNDK has the edge over EPAM in the historical PE scenario, which offers more potential upside but is not a forecast.
EPAM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect EPAM's earnings to grow and its profitability to improve, with its revenue holding steady.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
SNDK has the edge over EPAM on the outlook, with more favorable revenue expectations.
EPAM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $14.10 | +76% |
| Q3 2026 | $7.99 | +22% |
| Q2 2026 | $7.37 | +5.1% |
| Q1 2026 | $6.96 | -2.7% |
| Q4 2025 | $6.72 | -14% |
| Q3 2025 | $6.55 | -15% |
| Q2 2025 | $7.01 | +0.6% |
| Q1 2025 | $7.15 | -2.1% |
| Q4 2024 | $7.84 | +11% |
EPAM earned $7.99 per share over the past year, up 22% from the year before.
SNDK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $247.30 | +97% |
| Q3 2026 | $125.61 | +$137.63 |
| Q2 2026 | $73.76 | +$85.07 |
| Q2 2025 | -$11.31 | -$6.65 |
SNDK has the edge over EPAM in the latest year-over-year earnings comparison.
EPAM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +2.3% |
| Q2 2026 | $1.4B | +4.5% |
| Q1 2026 | $1.4B | +7.6% |
| Q4 2025 | $1.4B | +13% |
| Q3 2025 | $1.4B | +19% |
| Q2 2025 | $1.4B | +18% |
| Q1 2025 | $1.3B | +12% |
| Q4 2024 | $1.2B | +7.9% |
EPAM's revenue has grown year over year for nine quarters in a row: $1.4B last quarter, up 2.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | +1.9 points |
| Q2 2026 | 11% | +1.4 points |
| Q1 2026 | 8.3% | +0.7 points |
| Q4 2025 | 11% | -0.3 points |
| Q3 2025 | 10% | -4.8 points |
| Q2 2025 | 9.3% | -1.2 points |
| Q1 2025 | 7.6% | -1.9 points |
| Q4 2024 | 11% | +0.4 points |
EPAM's operating margin was 12% last quarter, up 1.9 points from the same quarter a year ago.
SNDK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11B | +378% |
| Q2 2026 | $9B | +372% |
| Q1 2026 | $6B | +251% |
| Q4 2025 | $3B | +61% |
| Q3 2025 | $2.3B | +23% |
| Q2 2025 | $1.9B | +8% |
| Q1 2025 | $1.7B | -0.6% |
| Q4 2024 | $1.9B | +13% |
SNDK's revenue has grown year over year for six quarters in a row: $11B last quarter, up 378% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 80% | +72 points |
| Q2 2026 | 78% | +78 points |
| Q1 2026 | 69% | +180 points |
| Q4 2025 | 35% | +25 points |
| Q3 2025 | 7.6% | -9 points |
| Q2 2025 | 0.9% | N/A |
| Q1 2025 | -111% | -122 points |
| Q4 2024 | 10% | +6.6 points |
SNDK has the edge over EPAM on profitability, with a higher operating margin.
EPAM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $274.2M | -4.3% |
| Q2 2026 | -$17.6M | -141% |
| Q1 2026 | -$54.2M | -466% |
| Q4 2025 | $268.1M | +134% |
| Q3 2025 | $286.4M | +21% |
| Q2 2025 | $43.4M | -17% |
| Q1 2025 | $14.8M | -88% |
| Q4 2024 | $114.5M | -29% |
EPAM generated $470M in free cash flow over the past year, up 2.5% from the year before.
SNDK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.3B | +1340% |
| Q2 2026 | $7.1B | +14355% |
| Q1 2026 | $3B | +$3B |
| Q3 2025 | $438M | +$636M |
| Q2 2025 | $49M | +$217M |
| Q1 2025 | -$18M | +$23M |
| Q3 2024 | -$198M | -$157M |
SNDK has the edge over EPAM on cash flow, with more consistent year-over-year improvement.
EPAM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.5% | -798K shares |
| 1 year | -7.8% | -4.3M shares |
| 3 years | -13% | -7.5M shares |
| 5 years | -13% | -7.7M shares |
| Available history | -11% | -6.2M shares |
EPAM has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $79.9M |
| Q2 2026 | $85M |
| Q1 2026 | $324M |
| Q4 2025 | $223.5M |
| Q3 2025 | $82.1M |
| Q2 2025 | $196.5M |
| Q1 2025 | $160M |
| Q4 2024 | $13M |
EPAM spent $712M buying back its own shares over the past year, up 58% from the year before.
SNDK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -1M shares |
| 1 year | +3.4% | +5M shares |
| 3 years | +6.9% | +10M shares |
SNDK has 154M diluted shares, up 3.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5B |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
EPAM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.3x | Net Cash |
| Q2 2026 | -1.1x | Net Cash |
| Q1 2026 | -1.3x | Net Cash |
| Q4 2025 | -2.0x | Net Cash |
| Q3 2025 | -1.9x | Net Cash |
| Q2 2025 | -1.6x | Net Cash |
| Q1 2025 | -1.8x | Net Cash |
| Q4 2024 | -2.0x | Net Cash |
EPAM has the edge over SNDK on leverage, with a lower net debt burden relative to earnings.
SNDK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
SNDK has more cash than debt.
EPAM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 71.8 | Overbought |
| Stochastic | 93.9 | Overbought |
EPAM's weekly RSI is 72 (overbought) and its Stochastic is 94 (overbought).
SNDK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.2 | Neutral |
| Stochastic | 10.6 | Oversold |
SNDK's weekly RSI is 40 (neutral) and its Stochastic is 11 (oversold).
EPAM PE vs Technology Sector
| Metric | EPAM | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 28x | 26% below |
| PE % | 11 | 35 | 24 pts below |
EPAM is trading at 21x earnings, a 26% discount to the Technology sector's median of 28x.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK has the edge over EPAM on valuation relative to its sector.
EPAM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $131.5 | 25% above |
| 20 week MA | $114.0 | 44% above |
| 50 week MA | $134.5 | 22% above |
| 100 week MA | $158.5 | 3.3% above |
| 200 week MA | $203.6 | 20% below |
EPAM has stronger trend alignment. EPAM is above 4 of 5 weekly averages versus SNDK above 0 of 3.
SNDK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,317.5 | 29% below |
| 20 week MA | $1,465.4 | 36% below |
| 50 week MA | $1,119.6 | 16% below |
SNDK is in a downtrend: it's below all three of its weekly moving averages, and 16% below its 50-week average.
EPAM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $214.4 | $356.3 | +66% |
| 2021 | $356.3 | $663.1 | +86% |
| 2022 | $663.1 | $323.7 | -51% |
| 2023 | $323.7 | $297.3 | -8.1% |
| 2024 | $297.3 | $238.5 | -20% |
| 2025 | $238.5 | $211.4 | -11% |
| 2026 YTD | $211.4 | $163.8 | -23% |
EPAM has finished four years in a row lower, and it's down 23% so far in 2026.
SNDK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $50.4 | $250.1 | +396% |
| 2026 YTD | $250.1 | $937.5 | +275% |
SNDK has the edge over EPAM on returns for 2026, with the stronger performance.