EPAM Systems Inc (EPAM)

Operating 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
Operating income (ttm)	US$ in thousands	501,239	549,222	615,421	564,095	572,966	568,156	532,053	564,307	542,316	488,642	440,914	399,066	379,324	352,076	336,245	325,701	302,850	296,375	280,370	261,725
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
Operating profit margin		10.76%	11.49%	12.61%	11.69%	12.14%	12.47%	12.35%	13.85%	14.46%	14.54%	14.54%	14.35%	14.29%	13.70%	13.47%	13.45%	13.27%	13.75%	13.76%	13.52%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $501,239K ÷ $4,656,750K
= 10.76%

EPAM Systems Inc's operating profit margin has shown some fluctuation over the past eight quarters, ranging from 11.24% to 13.60%. The highest operating profit margin was recorded in Q1 2022, at 13.60%, while the lowest was in Q4 2023, at 11.24%. Overall, the company has generally maintained its operating profit margin within the range of 11-13%, indicating relatively stable profitability. It is important to further investigate the factors contributing to the fluctuations in operating profit margin to better understand the company's performance and ensure sustained profitability in the future.