ExlService Holdings, Inc. (EXLS)
POSITIVEFundamental
78
Price
$37.55
Market Cap
$5.78B
Part 1 · What the company is worth
Overview
ExlService Holdings, Inc., operates as a data and artificial intelligence (AI) company in the North America, the United Kingdom, Europe, and internationally. The company operates through Insurance; Healthcare and Life Sciences; Banking, Capital Markets, and Diversified Industries; and International Growth Markets. It provides digital operations and solutions and analytics-driven services, such as claims management, premium and benefit administration, agency management, account reconciliation, actuarial and risk analytics, policy research, digital marketing, underwriting support, new business acquisition, policy servicing, audit, surveys, billing and collection, commercial and residential survey, and customer service; digital customer acquisition services using a software-as-a-service delivery model through LifePRO and Life Digital Suite platforms; and Subrosource software platform, an end-to-end subrogation platform. The company also offers health care services for care, utilization, and disease management; payment integrity; revenue optimization, customer engagement, and commercial analytics and regulatory support services; and digital operations and solutions. In addition, it provides financial planning and analysis, accounting, regulatory and statutory reporting, decision support, data management, and compliance services; consumer and commercial banking, credit card and payment services; fintech, wealth and retirement services; capital markets, utilities, retail and consumer packaged goods, communications, media and entertainment, travel and leisure, transportation and logistics, infrastructure, and other business services; property and casualty insurance, life insurance, disability insurance; and insurance brokers, reinsurers, annuity and retirement services. The company was founded in 1999 and is headquartered in New York, New York.
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Direct competitors
Who this company fights with for the same customers
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No competitor list for this company yet.
Balance Sheet & Liquidity
Revenue
$2.16B
Trailing 12 months (through 3/31/2026)
Net Income
$252M
Trailing 12 months (through 3/31/2026)
Free Cash Flow
$298M
Total Equity
$913M
Total Liabilities
$790M
Current Ratio
2.66
Interest Coverage
18.78
Debt/EBITDA
1.40
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$53.84
Current Price
$37.55
Margin of Safety
+30.3%
Fair Value Range
$35.00 - $72.69
Estimation Methods
Valuation Metrics
P/E Ratio
23.99
ROE
27.5%
P/B Ratio
7.39
P/FCF
19.40
Gross Margin
38.5%
ROIC
18.8%
Profitability Radar
Value Creation (Economic Moat)
ROIC
18.8%
WACC
8.5%
ROIC − WACC
+10.3 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Fundamental Analysis Criteria
Passed (23)
- EPS shows upward trend
- EPS CAGR 6.89%
- Price CAGR 14.04%
- ROIC 18.8%
- Gross Margin 38.5%
- P/FCF 19.40
- Debt/Equity ratio
- Operating Margin 15.2%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 28.5%
- Revenue Growth 5Y 16.9%
- Analyst Consensus 88% Buy
- Earnings Surprise avg 4.7%
- PEG Ratio 0.88
- Earnings Quality (OCF/NI) 1.39
- Share Dilution -0.5%
- Net Margin Trend 11.7% vs 11.4%
- Piotroski F-Score 7/9
Failed (4)
- P/B Ratio 7.39
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
Unavailable (1)
- Dividend Payout NaN%
Piotroski F-Score
Strong financial health
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Rohit Kapoor | Co-Founder, Chairman & CEO | 60 |
| Mr. Vikas Bhalla | President and Head of AI Services & Operations | 53 |
| Mr. Vivek Jetley | President and Head of Insurance, Healthcare & Life Sciences | 50 |
| Mr. Maurizio Nicolelli CPA | Executive VP & CFO | 57 |
| Mr. Narasimha Kini | Executive Vice President of Banking & Capital Markets and Diversified Industries | 56 |
| Ms. Bhavna Newle Chopra | Senior Vice President in Operations Management | - |
| Mr. Baljinder Singh | Executive VP, Global Chief Information Officer & Head of Enterprise Digital Transformation | 52 |
| Mr. Andrew Thut | Head of Investor Relations & Capital Markets | - |
| Mr. Ajay Ayyappan J.D. | Executive VP, General Counsel & Corporate Secretary | 47 |
| Mr. Joel Katz | Senior VP and Chief Compliance & Ethics Officer | - |
Audit Risk
1
Board Risk
5
Compensation Risk
1
Shareholder Rights Risk
4
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Latest News
Recent headlines for EXLS, sourced from Markets Gazette.
- 3/11/2026NEGATIVEEXL Stock Down 41% Year Over Year as One Investor Reveals $68 Million Exit
ExlService Holdings Inc. (EXLS) has experienced a significant 41% decline in its stock value over the past year. This downturn is highlighted by a substantial $68 million exit by a key investor, signaling a potential loss of confidence or a strategic shift. The company, which provides digital operations and analytics solutions to the insurance, healthcare, and life sciences sectors, faces increased scrutiny from the market. Investors are likely reassessing the company's growth prospects and competitive positioning in light of this exit and the substantial share price depreciation.
- 2/25/2026NEUTRALExlService (EXLS) Q4 2025 Earnings Call Transcript
Investors in ExlService (EXLS) are currently awaiting the release of the transcript from the company's fourth-quarter 2025 earnings call. While the event has been announced, specific details regarding key financial metrics such as revenue, earnings per share, and future guidance are not yet available. The market will closely scrutinize this information to assess the company's performance during the period and its growth prospects. The absence of concrete data currently prevents a directional judgment on the potential impact these results might have on the stock. The reaction of EXLS shares will entirely depend on the strength of the numbers presented and the future projections outlined by management.
via Markets Gazette