EPAM EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
EPAM's ev/ebitda is lower than 95% of the last 10 years.
EV/EBITDA History
EPAM EV/EBITDA by year
Yearly range of EPAM’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 5.0 to 66.0, averaging 26.0.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 5.0 | 9.0 | 16.9 | 7.8 |
| 2025 | 10.4 | 13.9 | 21.2 | 15.5 |
| 2024 | 12.7 | 18.1 | 25.3 | 18.3 |
| 2023 | 15.0 | 20.0 | 29.5 | 22.4 |
| 2022 | 13.3 | 28.5 | 53.6 | 25.5 |
| 2021 | 36.0 | 52.0 | 66.0 | 55.9 |
| 2020 | 20.1 | 33.3 | 42.2 | 39.3 |
| 2019 | 20.0 | 28.8 | 32.2 | 28.8 |
| 2018 | 20.7 | 27.6 | 32.1 | 20.7 |
| 2017 | 19.5 | 24.5 | 29.8 | 29.4 |
| 2016 | 19.8 | 21.6 | 24.4 | 21.1 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is EPAM EV/EBITDA High or Low Right Now?
EPAM Systems, Inc.'s EV/EBITDA is currently 7.8, which is near historic low relative to its 10-year historical range. The 10-year median EV/EBITDA for EPAM is approximately 24.8. See all EPAM valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.