EPAM Systems Inc (EPAM)

Operating return on assets (Operating ROA)

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating income	US$ in thousands	544,584	501,239	572,966	542,316	379,324
Total assets	US$ in thousands	4,750,470	4,352,360	4,009,150	3,523,230	2,721,330
Operating ROA		11.46%	11.52%	14.29%	15.39%	13.94%

December 31, 2024 calculation

Operating ROA = Operating income ÷ Total assets
= $544,584K ÷ $4,750,470K
= 11.46%

The operating return on assets (ROA) of EPAM Systems Inc has shown fluctuations over the past five years. Beginning at 13.94% on December 31, 2020, the operating ROA increased to 15.39% by December 31, 2021, reflecting improved operational efficiency and profitability. However, by the end of 2022, the operating ROA decreased slightly to 14.29%, indicating a potential moderation in asset utilization or profitability.

Subsequently, by the end of 2023, the operating ROA experienced a more significant decline to 11.52%, suggesting potential challenges in generating operational profits relative to the assets employed. This trend continued into 2024, with the operating ROA further decreasing to 11.46%.

Overall, the fluctuating nature of EPAM Systems Inc's operating ROA highlights the company's varying ability to generate profits from its operating activities in relation to its total assets over the years covered. Further analysis and investigation may be necessary to understand the underlying factors driving these changes and to identify potential areas for improvement.