EXLS

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ExlService Holdings, Inc.

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Key Metrics

Previous Close: $37.02
52-Week Range: $24.85 – $45.08
Market Cap: $5.62B
P/E (TTM): 23.45
EPS (TTM): 1.58
Dividend Yield: —

Advanced Metrics

Price/Book: 6.49
PEG Ratio: 1.10
Return on Equity: 25.94%
Return on Assets: 12.01%
Gross Margin: 38.51%
Operating Margin: 14.61%
Profit Margin: 11.17%
Current Ratio: 1.24
Debt/Equity: 0.57
Total Debt: $490.17M
Free Cash Flow: $262.33M
Revenue Growth: 15.60%
Earnings Growth: 5.00%
Enterprise Value: $5.82B

EXLS Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$1.41B	$1.63B	$1.84B	$2.09B
Cost of Revenue	$896.60M	$1.02B	$1.15B	$1.29B
Gross Profit	$515.45M	$607.77M	$691.01M	$801.08M
Selling, General & Admin	$267.00M	$318.52M	$372.17M	$428.24M
Operating Expenses	$323.29M	$369.01M	$427.39M	$487.33M
Operating Income	$192.16M	$238.75M	$263.62M	$313.75M
EBITDA	$276.24M	$321.59M	$357.59M	$416.55M
Pretax Income	$190.10M	$237.94M	$261.35M	$315.05M
Income Tax	$47.56M	$53.54M	$62.94M	$63.73M
Net Income	$142.97M	$184.56M	$198.30M	$251.02M
Diluted EPS	0.85	1.10	1.21	1.54
Diluted Shares	169.17M	168.16M	164.32M	162.48M

EXLS Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$118.67M	$136.95M	$153.35M	$146.33M
Receivables	$275.85M	$329.44M	$359.80M	$391.56M
Current Assets	$612.79M	$679.67M	$795.19M	$829.96M
Total Assets	$1.35B	$1.44B	$1.62B	$1.70B
Current Liabilities	$277.95M	$326.40M	$290.12M	$324.13M
Long-Term Debt	$220.00M	$135.00M	$283.60M	$293.71M
Total Debt	$313.13M	$270.95M	$364.83M	$403.62M
Total Liabilities	$587.94M	$552.53M	$688.54M	$789.53M
Retained Earnings	$899.11M	$1.08B	$1.28B	$1.53B
Shareholders' Equity	$758.18M	$889.44M	$929.86M	$912.71M
Working Capital	$334.85M	$353.27M	$505.07M	$505.83M
Net Debt	$131.33M	$63.05M	$135.13M	$152.27M

EXLS Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$166.14M	$211.20M	$268.52M	$350.72M
Capital Expenditure	-$44.84M	-$52.80M	-$46.26M	-$52.60M
Free Cash Flow	$121.31M	$158.40M	$222.26M	$298.12M
Depreciation & Amortisation	$77.89M	$70.47M	$76.98M	$83.89M
Stock-Based Compensation	$49.37M	$58.44M	$72.66M	$79.47M
Investing Cash Flow	-$96.55M	-$12.00M	-$119.10M	-$49.26M
Financing Cash Flow	-$81.72M	-$181.45M	-$119.10M	-$312.76M
Share Repurchases	-$72.64M	-$131.85M	-$207.93M	-$328.49M
Net Change in Cash	-$12.13M	$17.75M	$30.32M	-$11.31M

EXLS Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$514.46M	$529.59M	$542.62M	$570.35M	$594.76M
Cost of Revenue	$320.27M	$325.65M	$332.98M	$348.27M	$368.80M
Gross Profit	$194.19M	$203.94M	$209.64M	$222.08M	$225.96M
Selling, General & Admin	$99.00M	$112.63M	$115.27M	$116.25M	$124.06M
Operating Expenses	$113.05M	$127.76M	$131.62M	$130.25M	$138.67M
Operating Income	$81.14M	$76.17M	$78.02M	$91.83M	$87.30M
EBITDA	$103.08M	$113.20M	$102.33M	$116.25M	$103.64M
Pretax Income	$84.74M	$74.70M	$75.45M	$91.40M	$83.97M
Income Tax	$18.55M	$16.46M	$15.23M	$24.32M	$19.43M
Net Income	$66.05M	$58.16M	$60.25M	$67.08M	$64.51M
Diluted EPS	0.40	0.36	0.38	0.43	0.42
Diluted Shares	164.19M	161.71M	159.51M	156.90M	152.83M

EXLS Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$149.13M	$160.31M	$146.33M	$145.41M	$126.72M
Receivables	$396.76M	$398.59M	$391.56M	$433.80M	$496.30M
Current Assets	$858.32M	$891.95M	$829.96M	$797.36M	$875.28M
Total Assets	$1.71B	$1.73B	$1.70B	$1.68B	$1.75B
Current Liabilities	$272.30M	$307.00M	$324.13M	$299.51M	$703.65M
Long-Term Debt	$255.16M	$349.93M	$293.71M	$412.49M	—
Total Debt	$340.82M	$434.46M	$403.62M	$518.58M	$488.02M
Total Liabilities	$647.55M	$781.24M	$789.53M	$897.58M	$881.64M
Retained Earnings	$1.41B	$1.47B	$1.53B	$1.60B	$1.66B
Shareholders' Equity	$1.06B	$952.39M	$912.71M	$778.80M	$866.24M
Working Capital	$586.01M	$584.94M	$505.83M	$497.85M	$171.64M
Net Debt	$110.91M	$194.51M	$152.27M	$271.97M	$254.43M

EXLS Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$109.38M	$120.72M	$117.38M	$1.72M	$87.89M
Capital Expenditure	-$14.43M	-$14.36M	-$10.87M	-$12.93M	-$14.51M
Free Cash Flow	$94.95M	$106.36M	$106.51M	-$11.21M	$73.39M
Depreciation & Amortisation	$8.09M	$33.58M	$22.62M	$20.90M	$7.57M
Stock-Based Compensation	$16.39M	$23.14M	$20.75M	$22.10M	$24.63M
Investing Cash Flow	-$14.02M	-$46.32M	$33.35M	$44.02M	-$50.21M
Financing Cash Flow	-$87.96M	-$63.38M	-$164.84M	-$44.60M	-$56.16M
Share Repurchases	-$41.68M	-$159.24M	-$109.58M	-$165.99M	-$20.62M
Net Change in Cash	$7.40M	$11.02M	-$14.11M	$1.14M	-$18.48M

Market Snapshot

About

ExlService Holdings, Inc. is a leading provider of data analytics, digital operations, and automation solutions that help organizations optimize business operations and improve customer experience. The company serves clients across multiple industries including insurance, healthcare, banking, travel, transportation, and logistics through its Operations Management and Analytics segments. ExlService combines domain expertise, technology platforms, and advanced analytics to deliver transformational business outcomes. The company operates globally with delivery centers in the United States, India, Philippines, South Africa, and other locations.