Stocks · Technology · Information Technology Services
ExlService Holdings, Inc. EXLS
$35.75 -2.00% Close, Oct 2, 2026 · NASDAQ · Market cap $5.42B
Inexpensive vs sectorLow risk
Next earnings report: Oct 27, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Earnings beat analyst estimates in each of the last 14 quarters (average surprise over the last four: +7.2%).
- The shares trade at 22.5× trailing earnings, lower than 86% of the company's own readings over the past five years.
- The diluted share count fell 6.9% in a year, mainly through buybacks.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 47%
- EPS growth (TTM, YoY)Bottom 45%
- FCF growth (TTM, YoY)Bottom 30%
- Revenue growth, 3-year CAGRTop 31%
- Revenue growth accelerationBottom 47%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 11%
- Gross marginBottom 34%
- Operating marginTop 25%
- Cash conversion (OCF / net income)Bottom 30%
- Accruals (lower is better)Bottom 36%
- Net debt / EBITDA (lower is better)Bottom 44%
- Interest coverTop 29%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 19%
- Free-cash-flow yieldTop 35%
- EBITDA / enterprise valueTop 21%
- Sales / enterprise valueTop 35%
- P/E vs own 5-year history (lower is better)Top 21%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 35%
- 6-month returnBottom 43%
- 1-year return vs S&P 500Bottom 35%
- Distance from 52-week highTop 31%
- Trend checklist (0–4)Top 18%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 46%
- Consecutive EPS beatsTop 9%
- Share of analysts rating BuyTop 26%
- Upside to consensus price targetBottom 47%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 32%
- Maximum drawdown, 3 yearsTop 29%
- Beta vs S&P 500 (lower is better)Top 9%
- Net debt / EBITDA (lower is better)Bottom 44%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 13.4% | 13.6% | ↑ |
| EPS growth (YoY) | 18.9% | 10.4% | ↓ |
| Gross margin | 38.0% | 38.5% | ↑ |
| Operating margin | 15.2% | 14.9% | ↓ |
| FCF margin | 14.1% | 12.3% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 13.6% | 13.4% | ↑ | Top 47% |
| EPS growth (TTM, YoY) | 10.4% | 18.9% | ↓ | Bottom 45% |
| Gross margin | 38.5% | 38.0% | ↑ | Bottom 34% |
| Operating margin | 14.9% | 15.2% | ↓ | Top 25% |
| Net margin | 11.2% | 12.0% | ↓ | — |
| Free-cash-flow margin | 12.3% | 14.1% | ↓ | — |
| Return on invested capital | 17.7% | — | Top 11% | |
| Revenue growth, 3-year CAGR | 13.9% | — | Top 31% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.31×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -4.4%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 4.1%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -4.2 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 0.82×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 10.9×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 8.29%
- Shareholder yield
- 8.29%
- Share count change, 1 year
- -6.9%
- Share count change, 3-year CAGR
- -3.2%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 28, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 14
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +7.2%
- Average 2-day reaction, last 8
- +1.4%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $44.00
- Target vs current price
- +23.1%
- Analysts with a rating
- 19
- Share rating Buy or Strong Buy
- 79%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 28, 2026 | +7.7% | +6.9% | +19.9% | +31.9% | — |
| Apr 28, 2026 | +9.4% | +0.9% | +4.4% | -4.7% | -11.5% |
| Feb 24, 2026 | +8.7% | +0.8% | +9.5% | +8.3% | +1.6% |
| Oct 28, 2025 | +3.2% | +0.0% | -5.6% | -6.3% | +2.8% |
| Jul 29, 2025 | +8.9% | -0.0% | +0.8% | +3.9% | -1.9% |
| Apr 29, 2025 | +6.7% | +1.2% | +4.7% | +4.6% | -4.6% |
| Feb 25, 2025 | +4.8% | +1.0% | -0.8% | -3.6% | -3.8% |
| Oct 29, 2024 | +7.3% | +0.7% | +8.7% | +20.7% | +27.9% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 28, 2026 | $0.59 | $0.55 | +7.7% | $594.8M |
| Apr 28, 2026 | $0.58 | $0.53 | +9.4% | $570.4M |
| Feb 24, 2026 | $0.50 | $0.46 | +8.7% | $542.6M |
| Oct 28, 2025 | $0.48 | $0.47 | +3.2% | $529.6M |
| Jul 29, 2025 | $0.49 | $0.45 | +8.9% | $514.5M |
| Apr 29, 2025 | $0.48 | $0.45 | +6.7% | $501.0M |
| Feb 25, 2025 | $0.44 | $0.42 | +4.8% | $481.4M |
| Oct 29, 2024 | $0.44 | $0.41 | +7.3% | $472.1M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 22.5× | 31.6× | 14th | Top 19% |
| P/E (forward) | 15.6× | — | — | — |
| EV / EBITDA | 13.2× | — | — | Top 21% |
| EV / Sales | 2.58× | — | — | Top 35% |
| Free-cash-flow yield | 5.07% | — | — | Top 35% |
| Earnings yield | 4.45% | — | — | Top 19% |
P/E over the past five years
Range 18.7× – 44.2× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- -18.2%
- Earnings per share growth (TTM)
- +10.4%
- Change in P/E multiple
- -34.5%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✓ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 2
- Days above the 200-day average
- 41
- 50-day average slope (20 days)
- +10.2%
- 200-day average slope (20 days)
- -1.4%
- Distance from 50-day average
- +1.3%
- Distance from 200-day average
- +8.2%
- RSI (14)
- 53.1
- Relative volume
- 1.51×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 48.9%
- Volatility vs own 5-year history
- 93th percentile · High for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.70
- Correlation with S&P 500
- 0.30
- Current drawdown from 1-year high
- -17.7%
- Maximum drawdown, 3 years
- -51.3%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Feb 6, 2025 | Jun 25, 2026 | -51.3% | 346 days | Not yet recovered |
| Nov 10, 2022 | Oct 25, 2023 | -33.3% | 239 days | 231 days (Sep 26, 2024) |
| Dec 29, 2021 | Feb 22, 2022 | -21.8% | 37 days | 28 days (Apr 1, 2022) |
| Sep 12, 2022 | Sep 27, 2022 | -19.4% | 11 days | 24 days (Oct 31, 2022) |
| Apr 20, 2022 | May 18, 2022 | -15.3% | 20 days | 13 days (Jun 7, 2022) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $5.42B
- P/E (TTM)
- 22.5
- EPS, diluted (TTM)
- $1.59
- Revenue (TTM)
- $2.24B
- 52-week range
- $24.85 – $44.15
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $1.12B | $1.41B | $1.63B | $1.84B | $2.09B |
| Gross profit | $431.4M | $515.4M | $607.8M | $691.0M | $801.1M |
| Operating income | $155.9M | $192.2M | $238.8M | $263.6M | $313.8M |
| Net income | $114.8M | $143.0M | $184.6M | $198.3M | $251.0M |
| EPS (diluted) | $0.67 | $0.85 | $1.10 | $1.21 | $1.54 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $472.1M | $481.4M | $501.0M | $514.5M | $529.6M | $542.6M | $570.4M | $594.8M |
| Net income | $53.0M | $50.7M | $66.6M | $66.1M | $58.2M | $60.2M | $67.1M | $64.5M |
| EPS (diluted) | $0.33 | $0.31 | $0.40 | $0.40 | $0.36 | $0.38 | $0.43 | $0.42 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $184.4M | $166.1M | $211.2M | $268.5M | $350.7M |
| Capital expenditure | -$37.2M | -$44.8M | -$52.8M | -$46.3M | -$52.6M |
| Free cash flow | $147.1M | $121.3M | $158.4M | $222.3M | $298.1M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | -$117.6M | -$71.6M | -$126.3M | -$202.9M | -$322.3M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $283.8M
- Total assets
- $1.75B
- Total liabilities
- $881.6M
- Total debt
- $488.0M
- Net debt
- $361.3M
- Shareholders’ equity
- $866.2M
As of Jun 30, 2026 (filed Jul 28, 2026).
Short interest
- Shares sold short
- 9,830,036
- Days to cover
- 5.58
- Change vs previous report
- -10.5%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Aug 2, 2023
- 5-for-1