How much did EPAM spend on buybacks in the first half of 2026?

EPAM spent $409 million on share repurchases during the first six months of 2026, with $85 million spent specifically in the second quarter. This represents a substantial capital return to shareholders and contributed to the company's 39% decline in cash and equivalents.

Was a new buyback program authorized in this filing?

No. This earnings announcement discloses execution under an existing share repurchase program but does not announce a new authorization, amendment, or termination. The specific authorization amount and remaining authorization balance are not disclosed in this 8-K.

How many shares did EPAM repurchase?

The filing does not disclose the specific number of shares repurchased during the first half or second quarter of 2026. However, weighted average diluted shares outstanding declined from 56.5 million in Q2 2025 to 53.2 million year-to-date in 2026, indicating a cumulative reduction of approximately 3.3 million shares over the period.

What was the average price paid per share?

The filing does not disclose the average price paid per share in the first half of 2026 or in the second quarter. Only aggregate dollar amounts ($85 million Q2, $409 million H1) are provided.

Did the buybacks help EPAM's earnings per share?

While the filing does not explicitly attribute EPS growth to buybacks, the reduction in share count likely contributed to EPS accretion. Diluted EPS grew 26.3% year-over-year (from $1.56 to $1.97) in Q2, while the share count declined materially, suggesting buyback activity supported per-share earnings.

How much cash does EPAM have left for future operations?

As of June 30, 2026, EPAM had $794.3 million in cash and cash equivalents, compared to $1.301 billion at year-end 2025. This leaves substantial liquidity for operations, investments, and potential future capital returns, though the company is burning cash on repurchases during a period of negative operating cash flow ($38.8 million used in H1 2026).

EPAM 8-K Filed 2026-08-05 Execution disclosure

EPAM repurchased $409M in shares during first half 2026

Company spent $85 million in Q2 alone; $507M cash decline reflects capital return strategy

MechanismNot specified

What the filing says

EPAM Systems, Inc. reported in its second-quarter 2026 earnings disclosure (filed as an 8-K on August 5, 2026) that it spent $409 million on share repurchases during the first six months of 2026, including $85 million in the second quarter. The company executed these repurchases under its existing share repurchase program, returning capital to shareholders as part of its capital allocation strategy.

The filing does not disclose a new authorization, amendment to an existing program, or the total number of shares repurchased during the periods. The execution occurred under what the company refers to as "its share repurchase program," but no specific authorization amount, mechanism (such as Rule 10b-18 open-market purchases or ASR), or remaining authorization balance is disclosed in this earnings announcement.

The substantial repurchase activity—$409 million year-to-date—contributed to a decline in cash and equivalents from $1.301 billion at December 31, 2025, to $794.3 million as of June 30, 2026, a decrease of $507.1 million (39.0% of opening cash). The company expects weighted average diluted shares outstanding for full year 2026 to be 52.2 million, down from 56.3 million in the second quarter of 2025, reflecting the cumulative impact of buyback activity.

Continued to return capital to shareholders, spending $85 million in the second quarter on share repurchases and $409 million since the beginning of the year. — EPAM Systems, Inc. 8-K filing · View on SEC EDGAR →

What this means

EPAM's $409 million in share repurchases during the first half of 2026 represents a significant capital return to shareholders and materially reduced the company's share count. While the filing does not break out the number of shares repurchased or the average price paid, the drop in weighted average diluted shares from 56.5 million in the 2025 period to 53.2 million year-to-date in 2026 indicates substantial buyback execution. The repurchases contributed to a 39% decline in the company's cash position, suggesting an aggressive capital return posture during a period of improved profitability (GAAP diluted EPS up 26.3% year-over-year). This activity likely supported EPS accretion through share-count reduction, though the filing provides no explicit guidance on future repurchase plans.

Frequently asked questions

How much did EPAM spend on buybacks in the first half of 2026?: EPAM spent $409 million on share repurchases during the first six months of 2026, with $85 million spent specifically in the second quarter. This represents a substantial capital return to shareholders and contributed to the company's 39% decline in cash and equivalents.
Was a new buyback program authorized in this filing?: No. This earnings announcement discloses execution under an existing share repurchase program but does not announce a new authorization, amendment, or termination. The specific authorization amount and remaining authorization balance are not disclosed in this 8-K.
How many shares did EPAM repurchase?: The filing does not disclose the specific number of shares repurchased during the first half or second quarter of 2026. However, weighted average diluted shares outstanding declined from 56.5 million in Q2 2025 to 53.2 million year-to-date in 2026, indicating a cumulative reduction of approximately 3.3 million shares over the period.
What was the average price paid per share?: The filing does not disclose the average price paid per share in the first half of 2026 or in the second quarter. Only aggregate dollar amounts ($85 million Q2, $409 million H1) are provided.
Did the buybacks help EPAM's earnings per share?: While the filing does not explicitly attribute EPS growth to buybacks, the reduction in share count likely contributed to EPS accretion. Diluted EPS grew 26.3% year-over-year (from $1.56 to $1.97) in Q2, while the share count declined materially, suggesting buyback activity supported per-share earnings.
How much cash does EPAM have left for future operations?: As of June 30, 2026, EPAM had $794.3 million in cash and cash equivalents, compared to $1.301 billion at year-end 2025. This leaves substantial liquidity for operations, investments, and potential future capital returns, though the company is burning cash on repurchases during a period of negative operating cash flow ($38.8 million used in H1 2026).

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Source. This editorial summary is based on the SEC filing linked above. BuybackStocks aggregates and editorializes publicly available SEC EDGAR filings. Not investment advice. Past authorization announcements do not guarantee future repurchase activity or share price performance. See our full disclosures policy.