ExlService Holdings, Inc. (EXLS) Financial Ratios
22 years of historical data (2004–2025) · Technology · Information Technology Services
EV/EBITDA
↓
13.68
↓-33% vs avg
5yr avg: 20.53
30Y Low0.5·High22.3
P/FCF
↓
16.25
↓-52% vs avg
5yr avg: 33.93
30Y Low2.6·High47.3
P/B Ratio
↑
5.51
↓-23% vs avg
5yr avg: 7.19
30Y Low0.3·High7.8
ROE
↑
27.2%
↓+27% vs avg
5yr avg: 21.5%
30Y Low8%·High27%
Debt/EBITDA
↓
1.08
↓-5% vs avg
5yr avg: 1.14
30Y Low0.0·High2.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
EXLS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
ExlService Holdings, Inc. trades at 20.1x earnings, 43% below its 5-year average of 35.1x, sitting at the 35th percentile of its historical range. Compared to the Technology sector median P/E of 27.5x, the stock trades at a discount of 27%. On a free-cash-flow basis, the stock trades at 16.2x P/FCF, 52% below the 5-year average of 33.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.8B | $6.9B | $7.3B | $5.2B | $5.7B | $5.0B | $2.9B | $2.4B | $1.8B | $2.1B | $1.7B |
| Enterprise Value | $5.1B | $7.2B | $7.5B | $5.3B | $5.9B | $5.2B | $3.1B | $2.6B | $2.0B | $2.1B | $1.6B |
| P/E Ratio → | 20.11 | 27.56 | 36.68 | 28.05 | 39.87 | 43.21 | 32.75 | 35.62 | 32.88 | 43.11 | 28.03 |
| P/S Ratio | 2.32 | 3.30 | 3.97 | 3.18 | 4.06 | 4.42 | 3.07 | 2.43 | 2.09 | 2.78 | 2.54 |
| P/B Ratio | 5.51 | 7.56 | 7.84 | 5.83 | 7.56 | 7.15 | 4.09 | 3.60 | 2.98 | 3.54 | 3.28 |
| P/FCF | 16.25 | 23.13 | 32.81 | 32.75 | 47.26 | 33.69 | 18.30 | 18.80 | 35.44 | 27.22 | 23.43 |
| P/OCF | 13.81 | 19.66 | 27.16 | 24.56 | 34.51 | 26.88 | 14.50 | 14.32 | 19.93 | 18.76 | 17.39 |
P/E links to full P/E history page with 30-year chart
EXLS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
ExlService Holdings, Inc.'s enterprise value stands at 13.7x EBITDA, 33% below its 5-year average of 20.5x. The Technology sector median is 17.4x, placing the stock at a 21% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.43 | 4.08 | 3.26 | 4.19 | 4.60 | 3.18 | 2.64 | 2.29 | 2.75 | 2.29 |
| EV / EBITDA | 13.68 | 19.19 | 22.01 | 17.20 | 21.93 | 22.32 | 16.25 | 16.81 | 20.56 | 18.74 | 15.87 |
| EV / EBIT | 16.26 | 21.50 | 26.71 | 21.18 | 29.86 | 33.50 | 24.11 | 27.11 | 29.98 | 24.08 | 18.45 |
| EV / FCF | — | 23.99 | 33.73 | 33.58 | 48.83 | 35.09 | 18.98 | 20.44 | 38.97 | 26.84 | 21.13 |
EXLS Profitability
Margins and return-on-capital ratios measuring operating efficiency
ExlService Holdings, Inc. earns an operating margin of 15.0%. ROE of 27.2% indicates solid capital efficiency. ROIC of 20.4% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.4% | 38.4% | 37.6% | 37.3% | 36.5% | 38.4% | 34.9% | 33.9% | 33.8% | 35.0% | 34.7% |
| Operating Margin | 15.0% | 15.0% | 14.3% | 14.6% | 13.6% | 13.9% | 11.5% | 7.7% | 5.6% | 9.5% | 9.4% |
| Net Profit Margin | 12.0% | 12.0% | 10.8% | 11.3% | 10.1% | 10.2% | 9.3% | 6.8% | 6.4% | 6.4% | 9.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 27.2% | 27.2% | 21.8% | 22.4% | 19.7% | 16.3% | 12.9% | 10.5% | 9.3% | 8.6% | 12.4% |
| ROA | 15.1% | 15.1% | 13.0% | 13.2% | 10.9% | 9.1% | 7.4% | 6.0% | 6.0% | 6.4% | 9.1% |
| ROIC | 20.4% | 20.4% | 18.4% | 18.2% | 15.6% | 13.5% | 9.7% | 6.8% | 5.4% | 11.7% | 14.0% |
| ROCE | 23.2% | 23.2% | 21.6% | 21.9% | 20.7% | 17.2% | 11.1% | 8.2% | 6.3% | 11.5% | 11.5% |
EXLS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
ExlService Holdings, Inc. carries a Debt/EBITDA ratio of 1.1x, which is manageable (62% below the sector average of 2.9x). Net debt stands at $257M ($404M total debt minus $146M cash). Interest coverage of 18.9x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.44 | 0.44 | 0.39 | 0.31 | 0.41 | 0.50 | 0.46 | 0.50 | 0.46 | 0.10 | 0.09 |
| Debt / EBITDA | 1.08 | 1.08 | 1.08 | 0.88 | 1.16 | 1.50 | 1.76 | 2.14 | 2.89 | 0.55 | 0.46 |
| Net Debt / Equity | — | 0.28 | 0.22 | 0.15 | 0.25 | 0.30 | 0.15 | 0.31 | 0.30 | -0.05 | -0.32 |
| Net Debt / EBITDA | 0.69 | 0.69 | 0.60 | 0.42 | 0.70 | 0.89 | 0.58 | 1.35 | 1.86 | -0.26 | -1.73 |
| Debt / FCF | — | 0.86 | 0.91 | 0.83 | 1.57 | 1.40 | 0.67 | 1.64 | 3.53 | -0.37 | -2.30 |
| Interest Coverage | 18.89 | 18.89 | 14.57 | 19.05 | 24.04 | 20.38 | 11.31 | 7.10 | 9.35 | 46.02 | 63.46 |
EXLS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
ExlService Holdings, Inc.'s current ratio of 2.56x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 2.07x to 2.56x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.56 | 2.56 | 2.73 | 2.07 | 2.20 | 1.16 | 2.74 | 2.35 | 3.22 | 3.14 | 3.05 |
| Quick Ratio | 2.56 | 2.56 | 2.73 | 2.07 | 2.20 | 1.16 | 2.74 | 2.35 | 3.22 | 3.14 | 3.05 |
| Cash Ratio | 1.01 | 1.01 | 1.21 | 0.90 | 1.09 | 0.65 | 1.84 | 1.43 | 1.84 | 1.86 | 1.86 |
| Asset Turnover | — | 1.23 | 1.14 | 1.13 | 1.05 | 0.87 | 0.77 | 0.84 | 0.83 | 0.92 | 0.97 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 59.99 | 71.44 | 73.74 | 71.30 | 69.75 | 62.94 | 68.44 | 73.94 | 68.61 | 66.48 |
EXLS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
ExlService Holdings, Inc. returns 6.8% to shareholders annually primarily through share buybacks. The earnings yield of 5.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.0% | 3.6% | 2.7% | 3.6% | 2.5% | 2.3% | 3.1% | 2.8% | 3.0% | 2.3% | 3.6% |
| FCF Yield | 6.2% | 4.3% | 3.0% | 3.1% | 2.1% | 3.0% | 5.5% | 5.3% | 2.8% | 3.7% | 4.3% |
| Buyback Yield | 6.8% | 4.8% | 2.9% | 2.5% | 1.3% | 2.4% | 2.7% | 1.7% | 2.3% | 2.0% | 1.0% |
| Total Shareholder Yield | 6.8% | 4.8% | 2.9% | 2.5% | 1.3% | 2.4% | 2.7% | 1.7% | 2.3% | 2.0% | 1.0% |
| Shares Outstanding | — | $162M | $164M | $168M | $169M | $171M | $173M | $174M | $175M | $176M | $173M |
Peer Comparison
Compare EXLS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 EXLSYou | $5B | 20.1 | 13.7 | 16.2 | 38.4% | 15.0% | 27.2% | 20.4% | 1.1 |
 EPAM | $6B | 13.6 | 7.1 | 11.2 | 30.7% | 11.5% | 12.8% | 19.8% | 0.2 |
 CTSH | $24B | 11.3 | 5.9 | 9.4 | 33.7% | 16.7% | 15.2% | 18.7% | 0.4 |
 TASK | $601M | 6.1 | 3.4 | 8.2 | 32.6% | 11.9% | 18.6% | 16.3% | 1.5 |
 ACN | $109B | 14.4 | 8.3 | 10.0 | 31.9% | 14.7% | 25.0% | 26.8% | 0.6 |
 IBM | $212B | 20.2 | 17.3 | 18.3 | 59.5% | 15.3% | 35.2% | 9.8% | 4.4 |
 INFY | $51B | 16.6 | 10.6 | 12.5 | 30.5% | 21.1% | 28.9% | 31.8% | 0.2 |
 WIT | $21B | 15.1 | 11.3 | 12.9 | 30.7% | 17.0% | 16.8% | 13.4% | 1.1 |
 HCKT | $257M | 21.7 | 10.0 | 7.9 | 38.3% | 8.7% | 14.1% | 16.4% | 2.5 |
 CRM | $174B | 23.2 | 19.5 | 12.1 | 77.7% | 21.5% | 12.4% | 10.9% | 0.8 |
 NOW | $92B | 53.3 | 35.8 | 20.2 | 77.5% | 13.7% | 15.5% | 12.4% | 1.3 |
| Technology Median | — | 27.5 | 17.4 | 19.8 | 48.6% | -0.5% | 2.4% | 2.9% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 22 years · Updated daily
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Start ComparisonEXLS — Frequently Asked Questions
Quick answers to the most common questions about buying EXLS stock.
What is ExlService Holdings, Inc.'s P/E ratio?
ExlService Holdings, Inc.'s current P/E ratio is 20.1x. The historical average is 24.0x. This places it at the 35th percentile of its historical range.
What is ExlService Holdings, Inc.'s EV/EBITDA?
ExlService Holdings, Inc.'s current EV/EBITDA is 13.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.6x.
What is ExlService Holdings, Inc.'s ROE?
ExlService Holdings, Inc.'s return on equity (ROE) is 27.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 15.1%.
Is EXLS stock overvalued?
Based on historical data, ExlService Holdings, Inc. is trading at a P/E of 20.1x. This is at the 35th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are ExlService Holdings, Inc.'s profit margins?
ExlService Holdings, Inc. has 38.4% gross margin and 15.0% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does ExlService Holdings, Inc. have?
ExlService Holdings, Inc.'s Debt/EBITDA ratio is 1.1x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.