EPAM Systems Inc (EPAM)

Debt-to-equity 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-equity 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-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 remained consistently low at 0.01 in Q4 2023, Q3 2023, Q2 2023, and Q1 2023. This stability suggests that the company has a conservative capital structure with minimal reliance on debt financing compared to equity. The ratio has consistently been at the same level since Q4 2022, indicating a prudent approach to managing its financial leverage. However, there was a slight increase in the debt-to-equity ratio from 0.01 in Q1 2022 to 0.02 in Q2 2022, which might be a point of scrutiny for potential increased debt levels, although it remained relatively low. Overall, the consistent low debt-to-equity ratio signifies a strong financial position and effective management of capital structure by EPAM Systems Inc.