EXLS Stock Analysis: ExlService Holdings | NASDAQ
Information Technology Services | NASDAQ, USA | Market Cap: 4.171m USD | 12M Return: -33.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 69.9M
EPS Trend: -9.8%
Qual. Beats: 7
Rev. Trend: 99.8%
Qual. Beats: 5
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
ExlService Holdings, Inc. (EXLS) is a U.S.-headquartered data and AI company that provides digital operations, analytics-driven services, and software platforms to clients across North America, the UK, Europe, and other international markets. It reports its business across four segments: Insurance; Healthcare and Life Sciences; Banking, Capital Markets, and Diversified Industries; and International Growth Markets. Service offerings span claims management, underwriting support, premium and benefit administration, care and utilization management, payment integrity, regulatory reporting, and customer service, delivered through proprietary platforms such as LifePRO, Life Digital Suite, and Subrosource. The company was founded in 1999 and is based in New York.
The business operates in the outsourced data processing and business services industry, where firms typically generate revenue through long-term, multi-year contracts that combine consulting, managed services, and technology licensing. Its mix of proprietary insurance software platforms alongside analytics and digital operations work positions it within the broader digital business process management (BPM) and AI-enabled services market.
- GenAI deal wins accelerate analytics services revenue growth
- Insurance and Healthcare verticals anchor recurring revenue base
- Wage inflation pressures operating margin guidance
| Net Income: 251.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.18 > 0.02 and ΔFCF/TA 3.04 > 1.0 |
| NWC/Revenue: 23.08% < 20% (prev 30.62%; Δ -7.54% < -1%) |
| CFO/TA 0.21 > 3% & CFO 349.2m > Net Income 251.5m |
| Net Debt (366.0m) to EBITDA (438.7m): 0.83 < 3 |
| Current Ratio: 2.66 > 1.5 & < 3 |
| Outstanding Shares: last quarter (156.9m) vs 12m ago -4.65% < -2% |
| Gross Margin: 38.47% > 18% (prev 37.90%; Δ 0.57% > 0.5%) |
| Asset Turnover: 128.7% > 50% (prev 113.5%; Δ 15.16% > 0%) |
| Interest Coverage Ratio: 11.92 > 6 (EBIT TTM 356.2m / Interest Expense TTM 29.9m) |
| A: 0.30 (Total Current Assets 797.4m - Total Current Liabilities 299.5m) / Total Assets 1.68b |
| B: 0.95 (Retained Earnings 1.60b / Total Assets 1.68b) |
| C: 0.21 (EBIT TTM 356.2m / Avg Total Assets 1.68b) |
| D: 0.87 (Book Value of Equity 778.8m / Total Liabilities 897.6m) |
| Altman-Z'' = 7.40 = AAA |
| DSRI: 0.95 (Receivables 433.8m/401.3m, Revenue 2.16b/1.90b) |
| GMI: 0.99 (GM 37.90% / 38.47%) |
| AQI: 1.01 (AQ_t 0.40 / AQ_t-1 0.40) |
| SGI: 1.13 (Revenue 2.16b / 1.90b) |
| TATA: -0.06 (NI 251.5m - CFO 349.2m) / TA 1.68b) |
| Beneish M = -2.98 (Cap -4..+1) = A |
As of July 14, 2026, the stock is trading at USD 28.49 with a total of 2,002,944 shares traded. Over the past week, the price has changed by +5.01%, over one month by +0.28%, over three months by -5.29% and over the past year by -33.79%.
Current recommended Stop Loss: 25.80 (which is 9.4% or 2.5 ATR below the current price).
ExlService Holdings has received a consensus analysts rating of 4.44. Therefore, it is recommended to buy EXLS.
- StrongBuy: 5
- Buy: 3
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 41 | 43.9% |
P/E Trailing = 17.3885
P/E Forward = 12.2399
P/S = 1.9337
P/B = 5.3546
P/EG = 0.8743
Revenue TTM = 2.16b USD
EBIT TTM = 356.2m USD
EBITDA TTM = 438.7m USD
Long Term Debt = 412.5m USD (from longTermDebt, last quarter)
Short Term Debt = 21.8m USD (from shortTermDebt, last quarter)
Debt = 619.8m USD (from shortLongTermDebtTotal, last quarter) + Leases 101.2m
Net Debt = 366.0m USD (calculated: Debt 619.8m - CCE 253.8m)
Enterprise Value = 4.54b USD (4.17b + Debt 619.8m - CCE 253.8m)
Interest Coverage Ratio = 11.92 (Ebit TTM 356.2m / Interest Expense TTM 29.9m)
EV/FCF = 15.30x (Enterprise Value 4.54b / FCF TTM 296.6m)
FCF Yield = 6.54% (FCF TTM 296.6m / Enterprise Value 4.54b)
FCF Margin = 13.75% (FCF TTM 296.6m / Revenue TTM 2.16b)
Net Margin = 11.66% (Net Income TTM 251.5m / Revenue TTM 2.16b)
Gross Margin = 38.47% ((Revenue TTM 2.16b - Cost of Revenue TTM 1.33b) / Revenue TTM)
Gross Margin QoQ = 38.94% (prev 38.63%)
Tobins Q-Ratio = 2.71 (Enterprise Value 4.54b / Total Assets 1.68b)
Interest Expense / Debt = 4.82% (Interest Expense 29.9m / Debt 619.8m)
Taxrate = 22.86% (74.5m / 326.2m)
NOPAT = 274.8m (EBIT 356.2m * (1 - 22.86%))
Current Ratio = 2.66 (Total Current Assets 797.4m / Total Current Liabilities 299.5m)
Debt / Equity = 0.80 (Debt 619.8m / totalStockholderEquity, last quarter 778.8m)
Debt / EBITDA = 0.83 (Net Debt 366.0m / EBITDA 438.7m)
Debt / FCF = 1.23 (Net Debt 366.0m / FCF TTM 296.6m)
Total Stockholder Equity = 926.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 15.00% (Net Income 251.5m / Total Assets 1.68b)
RoE = 27.16% (Net Income TTM 251.5m / Total Stockholder Equity 926.2m)
RoCE = 26.61% (EBIT 356.2m / Capital Employed (Equity 926.2m + L.T.Debt 412.5m))
RoIC = 21.29% (NOPAT 274.8m / Invested Capital 1.29b)
WACC = 7.45% (E(4.17b)/V(4.79b) * Re(8.0%) + D(619.8m)/V(4.79b) * Rd(4.82%) * (1-Tc(0.23)))
Discount Rate = 8.0% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -82.62 | Cagr: -2.70%
[DCF] Terminal Value 77.97% ; FCFF base≈276.2m ; Y1≈316.7m ; Y5≈466.0m
[DCF] Fair Price = 43.51 (EV 7.01b - Net Debt 366.0m = Equity 6.65b / Shares 152.8m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -9.81 | EPS CAGR: -2.19% | SUE: 3.28 | # QB: 7
Revenue Correlation: 99.83 | Revenue CAGR: 13.18% | SUE: 4.0 | # QB: 5
EPS current Quarter (2026-06-30): EPS=0.55 | Chg30d=+0.00% | Revisions=+36% | Analysts=8
EPS next Quarter (2026-09-30): EPS=0.56 | Chg30d=+0.23% | Revisions=-29% | Analysts=8
EPS current Year (2026-12-31): EPS=2.24 | Chg30d=+0.05% | Revisions=+73% | GrowthEPS=+14.7% | GrowthRev=+11.5%
EPS next Year (2027-12-31): EPS=2.51 | Chg30d=+0.09% | Revisions=+73% | GrowthEPS=+12.3% | GrowthRev=+10.7%
[Analyst] Revisions Ratio: +58% (up=23, down=5)