Last 48 quarters of trend data · Technology · Information Technology Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
ExlService Holdings, Inc.'s quarterly P/E stands at 17.7x, down 40.0% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 45.2% YoY to 11.2x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 20.35 | 17.70 | 27.92 | 30.58 | 27.37 | 29.51 | 35.79 | 28.90 | 28.00 | 27.41 | 32.14 | 26.96 | 26.04 |
| — | -40.0% | -22.0% | +5.8% | -2.3% | +7.6% | +11.4% | +7.2% | +7.5% | +1.6% | -27.9% | -15.8% | -25.8% | |
| P/S Ratio | 2.35 | 2.09 | 3.18 | 3.36 | 3.49 | 3.88 | 3.79 | 3.30 | 2.87 | 3.04 | 3.11 | 2.86 | 3.14 |
| — | -46.0% | -16.1% | +2.0% | +21.9% | +27.7% | +21.8% | +15.3% | -8.7% | -11.4% | -18.7% | -16.9% | -12.6% | |
| P/B Ratio | 5.58 | 6.13 | 7.56 | 7.48 | 6.78 | 7.68 | 7.84 | 6.86 | 6.03 | 6.60 | 5.79 | 5.49 | 6.10 |
| — | -20.1% | -3.7% | +9.0% | +12.4% | +16.3% | +35.5% | +24.9% | -1.1% | -4.4% | -23.5% | -22.2% | -16.1% | |
| P/FCF | 16.44 | — | 16.19 | 16.74 | 18.93 | — | 19.14 | 16.00 | 20.45 | — | 19.11 | 21.93 | 37.53 |
| — | — | -15.4% | +4.6% | -7.4% | — | +0.1% | -27.0% | -45.5% | — | -30.2% | -27.7% | +113.6% | |
| EV / EBITDA | 13.84 | 11.19 | 18.09 | 16.82 | 19.36 | 20.42 | 20.13 | 16.35 | 18.28 | 17.78 | 18.39 | 13.94 | 18.07 |
| — | -45.2% | -10.2% | +2.9% | +5.9% | +14.8% | +9.5% | +17.2% | +1.1% | -2.3% | -13.7% | -25.5% | -7.3% | |
| EV / EBIT | 16.44 | 12.90 | 19.40 | 23.18 | 20.70 | 23.74 | 24.76 | 21.92 | 20.90 | 21.30 | 22.29 | 19.74 | 19.45 |
| — | -45.6% | -21.7% | +5.7% | -1.0% | +11.4% | +11.1% | +11.1% | +7.4% | -5.6% | -27.7% | -18.5% | -28.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
ExlService Holdings, Inc.'s operating margin was 16.1% in Q1 2026, up 1.7 pp QoQ and up 0.4 pp YoY.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.4% | 38.9% | 38.6% | 38.5% | 37.7% | 38.6% | 38.1% | 37.8% | 37.1% | 37.4% | 36.7% | 37.7% | 37.5% |
| — | +0.9% | +1.4% | +2.0% | +1.8% | +3.3% | +3.9% | +0.1% | -1.1% | +0.3% | +0.1% | +4.1% | +3.5% | |
| Operating Margin | 15.0% | 16.1% | 14.4% | 14.4% | 15.8% | 15.7% | 14.8% | 14.7% | 13.7% | 14.1% | 13.1% | 14.7% | 16.0% |
| — | +2.9% | -2.8% | -2.2% | +15.1% | +11.0% | +12.9% | +0.3% | -14.4% | -5.0% | -3.7% | +5.7% | +17.9% | |
| Net Margin | 12.0% | 11.8% | 11.1% | 11.0% | 12.8% | 13.3% | 10.5% | 11.2% | 10.2% | 11.2% | 9.7% | 10.7% | 12.1% |
| — | -11.5% | +5.5% | -2.2% | +25.6% | +18.9% | +8.2% | +5.2% | -15.6% | -12.8% | +14.5% | -1.3% | +17.2% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 27.2% | 7.9% | 6.5% | 5.8% | 6.4% | 6.9% | 5.5% | 6.0% | 5.5% | 5.8% | 4.6% | 5.2% | 6.0% |
| — | +15.7% | +17.1% | -4.1% | +15.1% | +19.0% | +19.5% | +16.1% | -8.1% | -12.8% | +6.0% | -7.7% | +16.4% | |
| ROA | 15.1% | 4.0% | 3.5% | 3.4% | 3.9% | 4.0% | 3.1% | 3.4% | 3.1% | 3.4% | 2.8% | 3.2% | 3.7% |
| — | -1.7% | +11.7% | -0.8% | +25.3% | +19.4% | +10.8% | +7.4% | -15.2% | -12.5% | +18.5% | +5.9% | +31.5% | |
| ROIC | 20.4% | 7.2% | 4.9% | 4.7% | 4.9% | 4.9% | 4.6% | 4.5% | 4.1% | 4.3% | 4.0% | 4.5% | 4.9% |
| — | +45.8% | +5.9% | +3.8% | +19.8% | +14.0% | +15.0% | +0.4% | -16.7% | -7.2% | -0.2% | +11.9% | +32.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
ExlService Holdings, Inc.'s Debt/EBITDA ratio is 1.0x, down from 4.1x last quarter — comfortably within a safe range. The current ratio has weakened 21.5% YoY to 2.66x, tightening the short-term liquidity position. Debt/Equity has declined for 3 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.44 | 0.14 | 0.44 | 0.46 | 0.32 | 0.38 | 0.39 | 0.47 | 0.49 | 0.52 | 0.31 | 0.32 | 0.34 |
| — | -64.3% | +12.8% | -2.8% | -34.2% | -26.9% | +29.0% | +47.1% | +42.7% | +59.5% | -26.1% | -34.1% | -35.4% | |
| Debt / EBITDA | 1.08 | 1.00 | 4.10 | 3.96 | 3.58 | 3.94 | 3.94 | 4.29 | 5.60 | 5.32 | 3.79 | 3.14 | 3.91 |
| — | -74.5% | +4.2% | -7.7% | -36.1% | -25.9% | +4.0% | +36.6% | +43.1% | +58.8% | -16.1% | -35.8% | -27.7% | |
| Current Ratio | 2.56 | 2.66 | 2.56 | 2.89 | 3.13 | 3.39 | 2.73 | 3.00 | 2.44 | 2.53 | 2.07 | 2.12 | 2.36 |
| — | -21.5% | -6.1% | -3.9% | +28.4% | +34.0% | +31.6% | +41.8% | +3.5% | +26.0% | -5.8% | +5.0% | +12.1% | |
| Quick Ratio | 2.56 | 2.66 | 2.56 | 2.89 | 3.13 | 3.39 | 2.73 | 3.00 | 2.44 | 2.53 | 2.07 | 2.12 | 2.36 |
| — | -21.5% | -6.1% | -3.9% | +28.4% | +34.0% | +31.6% | +41.8% | +3.5% | +26.0% | -5.8% | +5.0% | +12.1% | |
| Interest Coverage | 18.89 | 23.24 | 5.51 | 16.17 | 20.79 | 20.35 | 14.81 | 13.40 | 12.21 | 20.00 | 18.79 | 18.04 | 20.92 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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ExlService Holdings, Inc.'s current P/E is 20.4x. The average P/E over the last 4 quarters is 25.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
ExlService Holdings, Inc.'s current operating margin is 15.0%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking ExlService Holdings, Inc.'s business trajectory between earnings reports.