EPAM Systems Inc (EPAM)

Debt-to-capital ratio

		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
Long-term debt	US$ in thousands	26,126	27,500	25,854	28,253	27,693	28,198	30,221	30,550	30,234	25,024	29	25,032	25,038	25,039	25,044	—	25,074	—	—	—
Total stockholders’ equity	US$ in thousands	3,470,890	3,299,440	3,262,760	3,128,960	3,001,530	2,757,170	2,622,350	2,552,100	2,487,120	2,339,120	2,212,670	2,063,940	1,983,020	1,860,230	1,753,090	1,647,480	1,596,140	1,492,120	1,422,250	1,338,220
Debt-to-capital ratio		0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.00	0.01	0.01	0.01	0.01	0.00	0.02	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $26,126K ÷ ($26,126K + $3,470,890K)
= 0.01

The debt-to-capital ratio of EPAM Systems Inc has remained relatively stable at a low level of 0.01 throughout the quarters of the past year, with a slight increase to 0.02 in Q1 2022. This indicates that the company has a low level of debt relative to its total capital, suggesting a conservative financial structure. A low debt-to-capital ratio signifies that the company relies more on its equity financing rather than debt financing to support its operations and growth. This can be seen as a positive attribute as it implies lower financial risk and greater financial stability for the company. Overall, the consistent low debt-to-capital ratio of EPAM Systems Inc is indicative of prudent financial management.