EPAM Systems Inc (EPAM)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	1,400,230	1,487,101	1,558,074	1,465,190	1,433,478	1,374,871	1,299,780	1,330,128	1,267,250	1,138,196	1,041,223	951,954	922,289	893,316	866,038	854,472	793,551	758,061	717,179	681,541
Revenue (ttm)	US$ in thousands	4,656,750	4,778,720	4,882,220	4,826,940	4,720,160	4,556,090	4,307,578	4,075,331	3,750,945	3,360,418	3,033,459	2,780,002	2,654,811	2,570,115	2,496,974	2,421,783	2,281,749	2,155,221	2,037,895	1,935,517
Gross profit margin		30.07%	31.12%	31.91%	30.35%	30.37%	30.18%	30.17%	32.64%	33.78%	33.87%	34.32%	34.24%	34.74%	34.76%	34.68%	35.28%	34.78%	35.17%	35.19%	35.21%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,400,230K ÷ $4,656,750K
= 30.07%

EPAM Systems Inc's gross profit margin has displayed a declining trend over the past eight quarters, starting at 33.83% in Q1 2022 and decreasing to 30.57% in Q4 2023. This indicates that the company's cost of goods sold has been increasing relative to its revenue over the period. The downward trajectory in the gross profit margin may raise concerns about the company's ability to maintain profitability and manage costs effectively. Further investigation into the factors driving this trend, such as pricing strategies, production costs, or competition, would be necessary to understand the implications for EPAM Systems Inc's financial performance and competitiveness in the market.