EXLS Stock Analysis: ExlService Holdings | NASDAQ
Information Technology Services | NASDAQ, USA | Market Cap: 5.410m USD | 12M Return: -12.4% | US3020811044 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 70.6M
EPS Trend: 29.2%
Qual. Beats: 8
Rev. Trend: 99.9%
Qual. Beats: 6
Warnings
No concerns identified
Tailwinds
Seasonality 11.7 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 (NASDAQ: EXLS) is a data and artificial intelligence company that provides digital operations, analytics, and outsourced services across four segments: Insurance; Healthcare and Life Sciences; Banking, Capital Markets, and Diversified Industries; and International Growth Markets. Its offerings include claims management, underwriting support, utilization and disease management, payment integrity, regulatory reporting, and consumer banking support, delivered through proprietary platforms such as LifePRO, Life Digital Suite, and the Subrosource subrogation platform. The company serves markets across North America, the United Kingdom, Europe, and other international regions. It was founded in 1999, is headquartered in New York, New York, and listed on NASDAQ in October 2006.
The business operates within the Data Processing & Outsourced Services sub-industry, generating revenue by combining proprietary technology and analytics with large-scale operations teams that handle client back-office and customer-facing processes under long-term contracts. EXLS is classified as a mid-cap stock in the Industrials sector, reflecting its position alongside other large-scale outsourcing and technology-enabled service providers.
- AI demand accelerates data analytics revenue growth
- Insurance segment expansion lifts margins and revenue mix
- Offshore wage inflation pressures operating margin trajectory
| Net Income: 250.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.16 > 0.02 and ΔFCF/TA -0.53 > 1.0 |
| NWC/Revenue: 7.67% < 20% (prev 29.50%; Δ -21.83% < -1%) |
| CFO/TA 0.19 > 3% & CFO 327.7m > Net Income 250.0m |
| Net Debt (311.1m) to EBITDA (441.0m): 0.71 < 3 |
| Current Ratio: 1.24 > 1.5 & < 3 |
| Outstanding Shares: last quarter (152.8m) vs 12m ago -6.92% < -2% |
| Gross Margin: 38.51% > 18% (prev 38.05%; Δ 0.46% > 0.5%) |
| Asset Turnover: 129.5% > 50% (prev 115.2%; Δ 14.21% > 0%) |
| Interest Coverage Ratio: 11.61 > 6 (EBIT TTM 356.2m / Interest Expense TTM 30.7m) |
| A: 0.10 (Total Current Assets 875.3m - Total Current Liabilities 703.6m) / Total Assets 1.75b |
| B: 0.95 (Retained Earnings 1.66b / Total Assets 1.75b) |
| C: 0.21 (EBIT TTM 356.2m / Avg Total Assets 1.73b) |
| D: 0.98 (Book Value of Equity 866.2m / Total Liabilities 881.6m) |
| Altman-Z'' = 6.17 = AAA |
| DSRI: 0.96 (Receivables 434.4m/396.8m, Revenue 2.24b/1.97b) |
| GMI: 0.99 (GM 38.05% / 38.51%) |
| AQI: 0.97 (AQ_t 0.38 / AQ_t-1 0.39) |
| SGI: 1.14 (Revenue 2.24b / 1.97b) |
| TATA: -0.04 (NI 250.0m - CFO 327.7m) / TA 1.75b) |
| Beneish M = -2.99 (Cap -4..+1) = A |
As of October 12, 2026, the stock is trading at USD 36.79 with a total of 1,515,993 shares traded. Over the past week, the price has changed by +2.91%, over one month by +5.26%, over three months by +33.30% and over the past year by -12.38%.
Current recommended Stop Loss: 34.90 (which is 5.1% or 1.8 ATR below the current price).
ExlService Holdings has received a consensus analysts rating of 4.67. Therefore, it is recommended to buy EXLS.
- StrongBuy: 6
- Buy: 3
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 44.6 | 21.3% |
P/E Trailing = 22.6987
P/E Forward = 13.587
P/S = 2.3996
P/B = 6.0961
P/EG = 0.9053
Revenue TTM = 2.24b USD
EBIT TTM = 356.2m USD
EBITDA TTM = 441.0m USD
Long Term Debt = 293.7m USD (from longTermDebt, last fiscal year)
Short Term Debt = 399.9m USD (from shortTermDebt, last quarter)
Debt = 594.9m USD (from shortLongTermDebtTotal, last quarter) + Leases 106.9m
Net Debt = 311.1m USD (calculated: Debt 594.9m - CCE 283.8m)
Enterprise Value = 5.72b USD (5.41b + Debt 594.9m - CCE 283.8m)
Interest Coverage Ratio = 11.61 (Ebit TTM 356.2m / Interest Expense TTM 30.7m)
EV/FCF = 20.80x (Enterprise Value 5.72b / FCF TTM 275.0m)
FCF Yield = 4.81% (FCF TTM 275.0m / Enterprise Value 5.72b)
FCF Margin = 12.29% (FCF TTM 275.0m / Revenue TTM 2.24b)
Net Margin = 11.17% (Net Income TTM 250.0m / Revenue TTM 2.24b)
Gross Margin = 38.51% ((Revenue TTM 2.24b - Cost of Revenue TTM 1.38b) / Revenue TTM)
Gross Margin QoQ = 37.99% (prev 38.94%)
Tobins Q-Ratio = 3.27 (Enterprise Value 5.72b / Total Assets 1.75b)
Interest Expense / Debt = 5.16% (Interest Expense 30.7m / Debt 594.9m)
Taxrate = 23.17% (75.4m / 325.5m)
NOPAT = 273.7m (EBIT 356.2m * (1 - 23.17%))
Current Ratio = 1.24 (Total Current Assets 875.3m / Total Current Liabilities 703.6m)
Debt / Equity = 0.69 (Debt 594.9m / totalStockholderEquity, last quarter 866.2m)
Debt / EBITDA = 0.71 (Net Debt 311.1m / EBITDA 441.0m)
Debt / FCF = 1.13 (Net Debt 311.1m / FCF TTM 275.0m)
Total Stockholder Equity = 877.5m (last 4 quarters mean from totalStockholderEquity)
RoA = 14.47% (Net Income 250.0m / Total Assets 1.75b)
RoE = 28.49% (Net Income TTM 250.0m / Total Stockholder Equity 877.5m)
RoCE = 30.41% (EBIT 356.2m / Capital Employed (Equity 877.5m + L.T.Debt 293.7m))
RoIC = 20.54% (NOPAT 273.7m / Invested Capital 1.33b)
WACC = 6.10% (E(5.41b)/V(6.00b) * Re(6.34%) + D(594.9m)/V(6.00b) * Rd(5.16%) * (1-Tc(0.23)))
Discount Rate = 6.34% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -82.43 | Cagr: -3.79%
[DCF] Terminal Value 75.30% ; FCFF base≈276.1m ; Y1≈275.0m ; Y5≈286.5m
[DCF] Fair Price = 27.18 (EV 4.46b - Net Debt 311.1m = Equity 4.15b / Shares 152.8m; r=8.35% [WACC [floored]]; 5y FCF grow -1.00% → 2.50% )
EPS Correlation: 29.16 | EPS CAGR: 5.88% | SUE: 1.57 | # QB: 8
Revenue Correlation: 99.86 | Revenue CAGR: 13.48% | SUE: 4.0 | # QB: 6
EPS current Quarter (2026-09-30): EPS=0.56 | Chg30d=+0.00% | Revisions=+12% | Analysts=8
EPS current Year (2026-12-31): EPS=2.29 | Chg30d=+0.00% | Revisions=+75% | GrowthEPS=+17.4% | GrowthRev=+15.4%
EPS next Year (2027-12-31): EPS=2.60 | Chg30d=+0.00% | Revisions=+75% | GrowthEPS=+13.5% | GrowthRev=+11.7%
[Analyst] Revisions Ratio: +73% (up=21, down=2)