EXLS - ExlService Holdings, Inc.
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$40.25
DETAILS
HIGH:
$46.00
LOW:
$35.00
MEDIAN:
$40.00
CONSENSUS:
$40.25
UPSIDE:
36.39%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||
| Revenue | 2,087.7 | 1,838.4 | 1,630.7 | 1,412.0 | 1,122.3 | 958.4 | 991.3 | 883.1 | 762.3 | 686.0 | 628.5 | 499.3 | 478.5 | 442.9 | 360.5 | 252.8 | 191.0 | 181.7 | 179.9 | 121.8 | 74.0 | 60.5 | 27.8 | 27.1 | 11.9 |
| Cost of Revenue | 1,286.6 | 1,147.4 | 1,022.9 | 896.6 | 690.9 | 623.9 | 655.5 | 584.9 | 495.6 | 448.0 | 402.9 | 332.5 | 290.9 | 271.9 | 220.0 | 151.3 | 109.4 | 112.4 | 113.7 | 73.8 | 47.6 | 38.7 | 0 | 13 | 6.8 |
| Gross Profit | 801.1 | 691.0 | 607.8 | 515.4 | 431.4 | 334.5 | 335.9 | 298.3 | 266.7 | 238.0 | 225.6 | 166.7 | 187.5 | 171.1 | 140.6 | 101.5 | 81.6 | 69.3 | 66.2 | 47.9 | 26.4 | 21.8 | 27.8 | 14.1 | 5.1 |
| Operating Expenses | |||||||||||||||||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 428.2 | 372.2 | 318.5 | 267.0 | 226.3 | 174.0 | 198.8 | 179.8 | 155.9 | 139.2 | 126.8 | 104.7 | 95.2 | 88.2 | 76.2 | 59.1 | 45.8 | 42.5 | 38.4 | 23.9 | 14.9 | 12.5 | 0 | 12.4 | 5.2 |
| Other Expenses | 59.1 | 55.2 | 50.5 | 56.3 | 49.1 | 50.5 | 60.7 | 68.6 | 38.5 | 34.6 | 31.5 | 28.0 | 24.9 | 25.6 | 23.0 | 15.8 | 11.4 | 11.2 | 10.5 | 8.9 | 5.9 | 3.9 | 27.8 | 4 | 1.4 |
| Operating Expenses | 487.3 | 427.4 | 369.0 | 323.3 | 275.5 | 224.5 | 259.4 | 248.4 | 194.4 | 173.8 | 158.2 | 132.7 | 120.1 | 113.8 | 99.2 | 74.9 | 57.2 | 53.6 | 48.9 | 32.9 | 20.8 | 16.5 | 27.8 | 16.4 | 6.6 |
| Operating Income | |||||||||||||||||||||||||
| Operating Income | 313.8 | 263.6 | 238.8 | 192.2 | 155.9 | 110.0 | 76.5 | 49.8 | 72.7 | 64.5 | 67.3 | 34.0 | 67.4 | 57.2 | 41.3 | 26.5 | 24.4 | 15.7 | 17.2 | 15.1 | 5.6 | 5.3 | 27.8 | (2.3) | (1.5) |
| Interest Expense | 17.6 | 19.3 | 13.2 | 8.3 | 7.6 | 11.2 | 13.6 | 7.2 | 1.9 | 1.3 | 1.3 | 0.3 | 0.6 | 0 | 0 | 0 | 0 | 0.1 | 0.1 | 0.6 | 0.8 | 0.9 | 0 | 0 | 0 |
| Interest Income | 0 | 9.9 | 8.0 | 5.2 | 2.7 | 2.5 | 2.2 | 1.9 | 1.6 | 1.7 | 2.9 | 3.6 | 3.2 | 2.0 | 2.0 | 1.4 | 1.0 | 3.5 | 4.3 | 1.9 | 0.7 | 0.3 | 0 | 0 | 0 |
| Profitability | |||||||||||||||||||||||||
| EBITDA | 391.7 | 357.6 | 321.6 | 276.2 | 229.6 | 204.2 | 176.2 | 116.3 | 125.9 | 119.8 | 108.6 | 66.0 | 90.5 | 82.9 | 64.3 | 42.4 | 35.8 | 26.8 | 32.0 | 26.1 | 11.8 | 9.9 | 27.8 | (2.3) | (0.1) |
| EBIT | 332.7 | 280.6 | 251.1 | 198.4 | 154.1 | 126.5 | 96.7 | 67.6 | 86.9 | 85.2 | 77.1 | 38.0 | 65.5 | 57.2 | 41.3 | 26.5 | 24.4 | 15.7 | 17.2 | 15.1 | 5.6 | 5.3 | 27.8 | (2.3) | (1.5) |
| Income Before Tax | 315.1 | 261.2 | 238.1 | 190.5 | 146.6 | 115.1 | 82.8 | 60.1 | 85.0 | 83.9 | 75.8 | 37.6 | 65.0 | 56.7 | 46.6 | 32.1 | 28.1 | 9.8 | 29.2 | 16.1 | 6.4 | 5.4 | (0.8) | (43.2) | (1.6) |
| Income Tax Expense | 63.7 | 62.9 | 53.5 | 47.6 | 31.9 | 25.6 | 15.2 | 3.4 | 36.1 | 22.2 | 24.2 | 5.2 | 16.9 | 14.9 | 11.9 | 5.5 | 3.7 | (1.3) | 2.1 | 2.1 | (0.6) | 0.0 | 0 | 0 | 0 |
| Net Income | 251.0 | 198.3 | 184.6 | 143.0 | 114.8 | 89.5 | 67.7 | 56.7 | 48.9 | 61.7 | 51.6 | 32.4 | 48.1 | 41.8 | 34.8 | 26.6 | 15.7 | 14.4 | 27.0 | 14.1 | 7.1 | 5.4 | (0.8) | (43.2) | (1.6) |
| Per Share Data | |||||||||||||||||||||||||
| EPS (Basic) | 1.56 | 1.22 | 1.11 | 0.86 | 0.68 | 0.52 | 0.39 | 0.33 | 0.29 | 0.37 | 0.31 | 0.20 | 0.29 | 0.26 | 1.15 | 0.91 | 0.54 | 0.50 | 0.95 | 0.59 | 0.67 | 0.52 | -0.08 | -2.26 | -0.17 |
| EPS (Diluted) | 1.54 | 1.21 | 1.10 | 0.85 | 0.67 | 0.52 | 0.39 | 0.32 | 0.28 | 0.36 | 0.30 | 0.19 | 0.28 | 0.25 | 1.10 | 0.88 | 0.53 | 0.49 | 0.93 | 0.58 | 0.66 | 0.51 | -0.08 | -2.26 | -0.17 |
| Shares Outstanding | 161.0 | 162.7 | 166.3 | 166.7 | 167.7 | 171.4 | 171.8 | 172.3 | 175.6 | 172.4 | 170.7 | 168.2 | 169.2 | 165.9 | 30.3 | 29.3 | 29.0 | 28.8 | 28.5 | 22.9 | 10.6 | 10.4 | 9.8 | 19.1 | 9.6 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2009 | 2008 | 2004 | 2002 | 2001 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||||||||
| Cash & Cash Equivalents | 146.3 | 163.3 | 141.0 | 123.6 | 141.5 | 223.2 | 124.6 | 101.5 | 90.5 | 217.0 | 132.3 | 112.4 | 19.0 | 15.7 | 2.5 |
| Short-Term Investments | 182.0 | 187.2 | 153.9 | 179.0 | 178.5 | 184.3 | 202.2 | 184.5 | 178.5 | 13.5 | 4.0 | 0.2 | 0 | 0 | 0 |
| Net Receivables | 343.1 | 359.8 | 329.4 | 275.9 | 214.5 | 165.3 | 185.9 | 178.9 | 143.3 | 124.9 | 35.0 | 33.9 | 10.7 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 158.5 | 6.1 | 8.7 | 7.4 | 10.8 | 12.7 | 7.3 | 11.2 | 8.6 | 4.9 | 7.7 | 6.8 | 2.0 | 0 | 0 |
| Total Current Assets | 830.0 | 790.9 | 676.4 | 611.6 | 576.7 | 606.4 | 539.6 | 499.9 | 452.8 | 378.8 | 181.5 | 157.9 | 32.6 | 15.7 | 2.5 |
| Non-Current Assets | |||||||||||||||
| Property, Plant & Equipment | 209.2 | 170.6 | 165.2 | 138.2 | 162.7 | 184.8 | 165.5 | 73.5 | 66.8 | 49.0 | 24.0 | 24.5 | 14.9 | 0 | 0 |
| Goodwill | 419.7 | 420.4 | 405.6 | 405.6 | 403.9 | 349.1 | 349.5 | 350.0 | 204.5 | 186.8 | 19.6 | 17.6 | 0 | 0 | 0 |
| Intangible Assets | 36.2 | 49.3 | 50.2 | 64.8 | 81.1 | 59.6 | 74.0 | 95.5 | 49.0 | 53.8 | 0.6 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 8.2 | 26.5 | 18.9 | 39.5 | 13.0 | 15.0 | 14.3 | 13.6 | 13.3 | 10.1 | 3.9 | 0.3 | 0.0 | 0 | 0 |
| Other Non-Current Assets | 69.0 | 55.9 | 42.7 | 30.6 | 24.2 | 25.2 | 28.3 | 22.8 | 29.9 | 13.3 | 3.0 | 8.7 | 2.7 | 0 | 0 |
| Total Non-Current Assets | 872.3 | 827.5 | 765.6 | 734.5 | 706.2 | 641.5 | 643.5 | 562.0 | 372.7 | 342.3 | 59.6 | 54.1 | 17.7 | 0 | 0 |
| Total Assets | 1,702.2 | 1,618.4 | 1,442.0 | 1,346.1 | 1,282.9 | 1,247.9 | 1,183.1 | 1,061.9 | 824.8 | 706.5 | 249.6 | 212.0 | 50.4 | 20.3 | 65.1 |
| Current Liabilities | |||||||||||||||
| Account Payables | 4.8 | 5.9 | 5.1 | 7.8 | 6.9 | 7.0 | 6.6 | 5.7 | 5.9 | 3.3 | 5.3 | 3.4 | 1.8 | 0 | 0 |
| Short-Term Debt | 4.9 | 4.9 | 65 | 30 | 260.0 | 25 | 40.9 | 21.6 | 10.6 | 10.2 | 0.1 | 0.1 | 0.2 | 0 | 0 |
| Deferred Revenue | 15.4 | 19.3 | 12.3 | 18.8 | 20 | 32.6 | 13.4 | 7.7 | 10.7 | 16.6 | 4.7 | 3.0 | 3.5 | 0 | 0 |
| Other Current Liabilities | 282.3 | (2.0) | 112.7 | 95.2 | 75.0 | 66.2 | 89.5 | 74.1 | 64.9 | 56.0 | 22.8 | 17.8 | 0.8 | 0 | 0 |
| Total Current Liabilities | 324.1 | 290.1 | 326.4 | 277.9 | 495.7 | 221.1 | 229.3 | 155.1 | 144.2 | 124.2 | 38.3 | 39.1 | 14.2 | 0 | 0 |
| Non-Current Liabilities | |||||||||||||||
| Long-Term Debt | 293.7 | 283.6 | 135 | 220 | 0 | 202.0 | 194.1 | 263.2 | 50.4 | 35 | 0 | 0 | 5.4 | 0 | 0 |
| Deferred Tax Liabilities | 4.3 | 1.4 | 1.5 | 0.5 | 1.0 | 0.8 | 1.0 | 8.4 | 0.9 | 3.6 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 51.5 | 35.4 | 20.7 | 36.9 | 23.4 | 18.7 | 11.6 | 16.5 | 28.9 | 14.8 | 5.4 | 1.4 | 5.6 | 0 | 0 |
| Total Non-Current Liabilities | 465.4 | 398.4 | 226.1 | 310.0 | 94.1 | 307.6 | 283.7 | 288.5 | 80.5 | 50.1 | 5.6 | 1.6 | 11.4 | 0 | 0 |
| Total Liabilities | 789.5 | 688.5 | 552.5 | 587.9 | 589.7 | 528.7 | 513.1 | 443.6 | 224.7 | 174.3 | 43.9 | 40.6 | 25.6 | 14.1 | 13.3 |
| Stockholders' Equity | |||||||||||||||
| Common Stock | 0.2 | 0.2 | 0.2 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0 | 0 |
| Retained Earnings | 1,533.0 | 1,282.0 | 1,083.7 | 899.1 | 756.1 | 641.4 | 551.9 | 484.2 | 427.1 | 382.7 | 85.7 | 70.0 | 8.4 | 0 | 0 |
| Accumulated Other Comprehensive Income | (180.7) | (154.7) | (127.0) | (144.1) | (89.5) | (75.0) | (84.9) | (83.5) | (45.7) | (75.1) | (3.5) | (14.5) | (0.8) | 0 | 0 |
| Total Stockholders' Equity | 912.7 | 929.9 | 889.4 | 758.2 | 693.2 | 719.2 | 670.0 | 618.1 | 599.8 | 532.0 | 205.7 | 171.3 | 24.8 | 6.2 | 51.8 |
| Total Liabilities & Equity | 1,702.2 | 1,618.4 | 1,442.0 | 1,346.1 | 1,282.9 | 1,247.9 | 1,183.1 | 1,061.9 | 824.8 | 706.5 | 249.6 | 212.0 | 50.4 | 20.3 | 65.1 |
| Debt Metrics | |||||||||||||||
| Total Debt | 403.6 | 366.6 | 271.8 | 313.7 | 347.4 | 331.2 | 334.5 | 285.2 | 61.3 | 45.5 | 0.3 | 0.3 | 5.9 | 0 | 0 |
| Net Debt | 257.3 | 203.3 | 130.7 | 190.1 | 205.9 | 108.0 | 209.9 | 183.7 | (29.2) | (171.5) | (132.0) | (112.1) | (13.0) | (15.7) | (2.5) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2005 | 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||
| Net Income | 251.0 | 198.3 | 184.6 | 143.0 | 114.8 | 89.5 | 67.7 | 56.7 | 48.9 | 61.7 | 7.1 | 5.4 |
| Depreciation & Amortization | 59.2 | 55.2 | 70.7 | 77.9 | 76.0 | 77.7 | 79.5 | 48.7 | 39.0 | 34.6 | 6.2 | 4.6 |
| Stock-Based Compensation | 79.5 | 72.7 | 58.4 | 49.4 | 38.6 | 28.2 | 26.1 | 23.9 | 23.0 | 19.8 | 0 | 0 |
| Change in Working Capital | (36.8) | (41.2) | (91.5) | (76.1) | (40.3) | 9.1 | 12.2 | (40.6) | (3.1) | (2.9) | 1.0 | (1.2) |
| Other Non-Cash Items | 12.8 | 3.4 | 20.8 | (8.4) | 15.7 | (4.2) | (4.7) | 4.3 | 4.6 | (9.5) | 0.4 | 0.4 |
| Operating Cash Flow | 350.7 | 268.5 | 211.2 | 166.1 | 184.4 | 203.0 | 168.4 | 92.4 | 113.1 | 100.3 | 13.1 | 9.9 |
| Investing Activities | ||||||||||||
| Capital Expenditure | (52.6) | (46.3) | (52.8) | (44.8) | (37.2) | (42.2) | (40.1) | (40.4) | (35.2) | (25.9) | (7.1) | (12.3) |
| Acquisitions | 0 | (24.9) | (0.6) | (3.9) | (76.8) | (0.7) | (0.2) | (231.8) | (26.3) | (28.7) | 0 | 0 |
| Purchases of Investments | (313.5) | (289.0) | (236.0) | (212.6) | (96.0) | (102.5) | (188.0) | (133.4) | (402.7) | (182.5) | 0 | 0 |
| Sales/Maturities of Investments | 0 | 240.9 | 276.0 | 164.5 | 94.5 | 126.2 | 177.0 | 128.2 | 241.4 | 182.3 | 0 | 0 |
| Other Investing Activities | 316.8 | 0.2 | 1.3 | 0.3 | 1.3 | 0.9 | 0 | (4.9) | (164.3) | (0.2) | 0 | 0 |
| Investing Cash Flow | (49.3) | (119.1) | (12.0) | (96.5) | (114.3) | (18.3) | (51.4) | (277.5) | (222.7) | (54.7) | (7.1) | (12.3) |
| Financing Activities | ||||||||||||
| Net Debt Issuance | 9.5 | 87.8 | (50.2) | (10.1) | (29.2) | (11.1) | (52.7) | 239.5 | 14.4 | (25.3) | (0.1) | (0.1) |
| Stock Repurchased | (328.5) | (207.9) | (131.8) | (72.6) | (118.4) | (79.9) | (41.4) | (43.1) | (43.5) | (18.2) | 0 | (0.0) |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | (4) | (5) | 0 | 0 | 0 | 0 | 0 | 0 | 4.3 | 0 | 0 |
| Financing Cash Flow | (312.8) | (119.1) | (181.4) | (81.7) | (146.9) | (89.6) | (93.1) | 197.8 | (20.5) | (32.7) | (0.1) | 12.4 |
| Cash Position | ||||||||||||
| Net Change in Cash | (4.6) | 22.3 | 17.4 | (17.9) | (81.7) | 98.6 | 23.1 | 11.0 | (126.5) | 9.8 | 65.3 | 0 |
| Cash at Beginning | 171.4 | 141.0 | 123.6 | 141.5 | 223.2 | 124.6 | 101.5 | 90.5 | 217.0 | 207.2 | 0 | 0 |
| Cash at End | 166.0 | 163.3 | 141.0 | 123.6 | 141.5 | 223.2 | 124.6 | 101.5 | 90.5 | 217.0 | 65.3 | 19.0 |
| Free Cash Flow | 298.1 | 222.3 | 158.4 | 121.3 | 147.1 | 160.7 | 128.3 | 52.0 | 78.0 | 74.4 | 6.0 | (2.5) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||||||||||||||
| Revenue | 2,087.7 | 1,838.4 | 1,630.7 | 1,412.0 | 1,122.3 | 958.4 | 991.3 | 883.1 | 762.3 | 686.0 | 628.5 | 499.3 | 478.5 | 442.9 | 360.5 | 252.8 | 191.0 | 181.7 | 179.9 | 121.8 | 74.0 | 60.5 | 27.8 | 27.1 | 11.9 |
| Gross Profit | 801.1 | 691.0 | 607.8 | 515.4 | 431.4 | 334.5 | 335.9 | 298.3 | 266.7 | 238.0 | 225.6 | 166.7 | 187.5 | 171.1 | 140.6 | 101.5 | 81.6 | 69.3 | 66.2 | 47.9 | 26.4 | 21.8 | 27.8 | 14.1 | 5.1 |
| Operating Income | 313.8 | 263.6 | 238.8 | 192.2 | 155.9 | 110.0 | 76.5 | 49.8 | 72.7 | 64.5 | 67.3 | 34.0 | 67.4 | 57.2 | 41.3 | 26.5 | 24.4 | 15.7 | 17.2 | 15.1 | 5.6 | 5.3 | 27.8 | (2.3) | (1.5) |
| Net Income | 251.0 | 198.3 | 184.6 | 143.0 | 114.8 | 89.5 | 67.7 | 56.7 | 48.9 | 61.7 | 51.6 | 32.4 | 48.1 | 41.8 | 34.8 | 26.6 | 15.7 | 14.4 | 27.0 | 14.1 | 7.1 | 5.4 | (0.8) | (43.2) | (1.6) |
| EPS (Diluted) | 1.54 | 1.21 | 1.10 | 0.85 | 0.67 | 0.52 | 0.39 | 0.32 | 0.28 | 0.36 | 0.30 | 0.19 | 0.28 | 0.25 | 1.10 | 0.88 | 0.53 | 0.49 | 0.93 | 0.58 | 0.66 | 0.51 | -0.08 | -2.26 | -0.17 |
| Balance Sheet | |||||||||||||||||||||||||
| Cash & Equivalents | 146.3 | 163.3 | 141.0 | 123.6 | 141.5 | 223.2 | 124.6 | 101.5 | 90.5 | 217.0 | 132.3 | 112.4 | 19.0 | 15.7 | 2.5 | ||||||||||
| Total Assets | 1,702.2 | 1,618.4 | 1,442.0 | 1,346.1 | 1,282.9 | 1,247.9 | 1,183.1 | 1,061.9 | 824.8 | 706.5 | 249.6 | 212.0 | 50.4 | 20.3 | 65.1 | ||||||||||
| Total Debt | 403.6 | 366.6 | 271.8 | 313.7 | 347.4 | 331.2 | 334.5 | 285.2 | 61.3 | 45.5 | 0.3 | 0.3 | 5.9 | 0 | 0 | ||||||||||
| Stockholders' Equity | 912.7 | 929.9 | 889.4 | 758.2 | 693.2 | 719.2 | 670.0 | 618.1 | 599.8 | 532.0 | 205.7 | 171.3 | 24.8 | 6.2 | 51.8 | ||||||||||
| Cash Flow | |||||||||||||||||||||||||
| Operating Cash Flow | 350.7 | 268.5 | 211.2 | 166.1 | 184.4 | 203.0 | 168.4 | 92.4 | 113.1 | 100.3 | 13.1 | 9.9 | |||||||||||||
| Capital Expenditure | (52.6) | (46.3) | (52.8) | (44.8) | (37.2) | (42.2) | (40.1) | (40.4) | (35.2) | (25.9) | (7.1) | (12.3) | |||||||||||||
| Free Cash Flow | 298.1 | 222.3 | 158.4 | 121.3 | 147.1 | 160.7 | 128.3 | 52.0 | 78.0 | 74.4 | 6.0 | (2.5) | |||||||||||||