EPAM Systems Inc (EPAM)

Debt-to-equity ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	26,126	27,693	30,234	25,038	25,074
Total stockholders’ equity	US$ in thousands	3,470,890	3,001,530	2,487,120	1,983,020	1,596,140
Debt-to-equity ratio		0.01	0.01	0.01	0.01	0.02

December 31, 2023 calculation

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

The debt-to-equity ratio of EPAM Systems Inc has been relatively low and consistent over the past five years, ranging between 0.01 and 0.02. This indicates that the company has been using a conservative financing strategy, relying more on equity financing rather than debt. A low debt-to-equity ratio suggests that EPAM Systems Inc has a lower financial risk as compared to companies with higher ratios, as it indicates a lower reliance on debt to finance its operations and growth. This stability in the debt-to-equity ratio demonstrates the company's prudent management of its capital structure and financial risk. Overall, the low and consistent debt-to-equity ratio of EPAM Systems Inc reflects a healthy and balanced approach to financing its operations.