EPAM Systems Inc (EPAM)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	501,239	572,966	542,316	379,324	302,850
Revenue	US$ in thousands	4,656,740	4,741,060	3,750,950	2,654,810	2,281,750
Operating profit margin		10.76%	12.09%	14.46%	14.29%	13.27%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $501,239K ÷ $4,656,740K
= 10.76%

EPAM Systems Inc's operating profit margin has displayed variations over the past five years. The trend indicates that the company's operating profit margin peaked in 2021 at 14.43% before slightly decreasing in 2022 and 2023. The company maintained relatively stable operating profit margins around the range of 11-14% over the period under review.

This trend suggests that EPAM Systems Inc has been able to effectively manage its operating expenses relative to its revenue generation, although there has been a slight decline in profitability in recent years. Further investigation into the specific factors driving these fluctuations in the operating profit margin would provide additional insights into the company's operational efficiency and profitability dynamics.