(EXLS) ExlService Holdings - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US3020811044

Analytics, Automation, Insurance, Healthcare, Banking

Data Processing & Outsourced Services
Market Cap in USD: 6,732m

IPO / Inception: 2006-10-20
12m vs SPY: -22.8%

EPS (Earnings per Share)

EPS CAGR: -43.43%
EPS Trend: -16.9%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: 16.83%
Rev. Trend: 98.4%

Last SUE: 2.44
Qual. Beats: 3

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	27.2%
Value at Risk 5%th	40.2%
Relative Tail Risk	-10.02%

Reward TTM
Sharpe Ratio	-0.28
Alpha	-24.13
CAGR/Max DD	0.30

Character TTM
Hurst Exponent	0.336
Beta	0.741
Beta Downside	0.801

Drawdowns 3y
Max DD	29.28%
Mean DD	12.16%
Median DD	13.35%

Description: EXLS ExlService Holdings January 08, 2026

ExlService Holdings (NASDAQ: EXLS) delivers data-analytics-driven digital operations and solutions across four primary segments: Insurance; Healthcare & Life Sciences; Banking, Capital Markets & Diversified Industries; and International Growth Markets. Its service suite spans end-to-end claims processing, underwriting support, premium administration, subrogation platforms, care-management and revenue-optimization tools, as well as financial planning, supply-chain, and mortgage-lending services, all powered by AI, machine-learning and advanced automation.

In FY 2023 the company reported approximately $1.5 billion in revenue, up about 7 % year-over-year, with an operating margin hovering near 11 %. Growth is being fueled by rising demand for outsourced digital solutions-particularly in insurance claims automation, which is expanding at a ~12 % CAGR globally-as firms seek cost efficiencies and faster customer onboarding.

Key economic drivers include tightening labor markets that push insurers and banks toward automation, and the broader trend of digital transformation in regulated industries, where compliance-related analytics services command premium pricing. EXLS’s SaaS platforms (LifePRO and Life Digital Suite) have seen subscription-revenue growth of roughly 15 % YoY, indicating strong client stickiness.

For a deeper dive into EXLS’s valuation metrics and peer comparison, you might explore the analysis on ValueRay.

Piotroski VR‑10 (Strict, 0-10) 8.5

Net Income (241.4m TTM) > 0 and > 6% of Revenue (6% = 121.6m TTM)

FCFTA 0.17 (>2.0%) and ΔFCFTA 4.48pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 28.60% (prev 28.76%; Δ -0.16pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.20 (>3.0%) and CFO 338.7m > Net Income 241.4m (YES >=105%, WARN >=100%)

Net Debt (262.8m) to EBITDA (417.7m) ratio: 0.63 <= 3.0 (WARN <= 3.5)

Current Ratio 2.89 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (161.7m) change vs 12m ago -0.90% (target <= -2.0% for YES)

Gross Margin 38.24% (prev 37.24%; Δ 1.00pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 121.2% (prev 110.0%; Δ 11.21pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 17.80 (EBITDA TTM 417.7m / Interest Expense TTM 18.5m) >= 6 (WARN >= 3)

Altman Z'' 8.04

(A) 0.33 = (Total Current Assets 886.6m - Total Current Liabilities 307.0m) / Total Assets 1.73b

(B) 0.85 = Retained Earnings (Balance) 1.47b / Total Assets 1.73b

warn (B) unusual magnitude: 0.85 — check mapping/units

(D) 1.67 = Book Value of Equity 1.30b / Total Liabilities 781.2m

Total Rating: 8.04 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 84.83

1. Piotroski 8.50pt

2. FCF Yield 4.24%

3. FCF Margin 14.16%

4. Debt/Equity 0.46

5. Debt/Ebitda 0.63

6. ROIC - WACC (= 11.67)%

7. RoE 24.42%

8. Rev. Trend 98.41%

9. EPS Trend -16.94%

What is the price of EXLS shares?

As of January 15, 2026, the stock is trading at USD 42.48 with a total of 1,140,207 shares traded.
Over the past week, the price has changed by -0.59%, over one month by +2.31%, over three months by +3.58% and over the past year by -7.41%.

Is EXLS a buy, sell or hold?

ExlService Holdings has received a consensus analysts rating of 4.30. Therefore, it is recommended to buy EXLS.

Strong Buy: 5
Buy: 3
Hold: 2
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the EXLS price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	52.1	22.7%
Analysts Target Price	52.1	22.7%
ValueRay Target Price	44.4	4.6%

EXLS Fundamental Data Overview January 15, 2026

P/E Trailing = 28.1622
P/E Forward = 19.1939
P/S = 3.3219
P/B = 7.037
P/EG = 1.2797
Revenue TTM = 2.03b USD
EBIT TTM = 328.6m USD
EBITDA TTM = 417.7m USD
Long Term Debt = 349.9m USD (from longTermDebt, last quarter)
Short Term Debt = 24.1m USD (from shortTermDebt, last quarter)
Debt = 434.5m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 262.8m USD (from netDebt column, last quarter)
Enterprise Value = 6.76b USD (6.73b + Debt 434.5m - CCE 401.5m)
Interest Coverage Ratio = 17.80 (Ebit TTM 328.6m / Interest Expense TTM 18.5m)
EV/FCF = 23.58x (Enterprise Value 6.76b / FCF TTM 286.9m)
FCF Yield = 4.24% (FCF TTM 286.9m / Enterprise Value 6.76b)
FCF Margin = 14.16% (FCF TTM 286.9m / Revenue TTM 2.03b)
Net Margin = 11.91% (Net Income TTM 241.4m / Revenue TTM 2.03b)
Gross Margin = 38.24% ((Revenue TTM 2.03b - Cost of Revenue TTM 1.25b) / Revenue TTM)
Gross Margin QoQ = 38.51% (prev 37.75%)
Tobins Q-Ratio = 3.90 (Enterprise Value 6.76b / Total Assets 1.73b)
Interest Expense / Debt = 1.13% (Interest Expense 4.92m / Debt 434.5m)
Taxrate = 22.03% (16.5m / 74.7m)
NOPAT = 256.2m (EBIT 328.6m * (1 - 22.03%))
Current Ratio = 2.89 (Total Current Assets 886.6m / Total Current Liabilities 307.0m)
Debt / Equity = 0.46 (Debt 434.5m / totalStockholderEquity, last quarter 952.4m)
Debt / EBITDA = 0.63 (Net Debt 262.8m / EBITDA 417.7m)
Debt / FCF = 0.92 (Net Debt 262.8m / FCF TTM 286.9m)
Total Stockholder Equity = 988.8m (last 4 quarters mean from totalStockholderEquity)
RoA = 14.44% (Net Income 241.4m / Total Assets 1.73b)
RoE = 24.42% (Net Income TTM 241.4m / Total Stockholder Equity 988.8m)
RoCE = 24.55% (EBIT 328.6m / Capital Employed (Equity 988.8m + L.T.Debt 349.9m))
RoIC = 19.84% (NOPAT 256.2m / Invested Capital 1.29b)
WACC = 8.17% (E(6.73b)/V(7.17b) * Re(8.64%) + D(434.5m)/V(7.17b) * Rd(1.13%) * (1-Tc(0.22)))
Discount Rate = 8.64% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -1.56%
[DCF Debug] Terminal Value 80.71% ; FCFF base≈249.9m ; Y1≈308.2m ; Y5≈524.9m
Fair Price DCF = 52.38 (EV 8.58b - Net Debt 262.8m = Equity 8.31b / Shares 158.7m; r=8.17% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: -16.94 | EPS CAGR: -43.43% | SUE: -4.0 | # QB: 0
Revenue Correlation: 98.41 | Revenue CAGR: 16.83% | SUE: 2.44 | # QB: 3
EPS next Quarter (2026-03-31): EPS=0.53 | Chg30d=+0.000 | Revisions Net=+2 | Analysts=6
EPS next Year (2026-12-31): EPS=2.19 | Chg30d=+0.002 | Revisions Net=+8 | Growth EPS=+14.4% | Growth Revenue=+11.4%

Additional Sources for EXLS Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle