EPAM – Market expectations are for Uniform ROA to improve, but management may have concerns about growth, profitability, and employees

April 18, 2022

  • EPAM Systems, Inc. (EPAM) currently trades above corporate but near historical averages relative to Uniform earnings, with a 30.8x Uniform P/E (Fwd. V/E’).
  • At these levels, markets are pricing in expectations for Uniform ROA to improve to 59%, accompanied by 7% Uniform asset growth.

  • Meanwhile, analysts expect Uniform ROA to contract to 54% in 2023, accompanied by 15% Uniform asset growth.

  • If sustained going forward, these levels would imply a stock price closer to $354, representing approximately 23% equity upside for the firm.

  • That said, the firm’s most recent earnings call suggests management may have concerns about growth, profitability, and employees.

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