ExlService (EXLS) Financials

$46.38 +0.09 (+0.19%)

Closing price 05/20/2025 04:00 PM Eastern

Extended Trading

$46.03 -0.35 (-0.75%)

As of 08:00 AM Eastern

Annual Income Statements for ExlService

This table shows ExlService's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	198	185	143	115	89	68	57	49	62	52
Consolidated Net Income / (Loss)	198	185	143	115	89	68	57	49	62	52
Net Income / (Loss) Continuing Operations	198	185	143	115	89	68	57	49	62	52
Total Pre-Tax Income	261	238	190	147	115	83	60	85	84	76
Total Operating Income	264	239	192	156	110	76	50	73	64	67
Total Gross Profit	691	608	515	431	334	336	298	267	238	226
Total Revenue	1,838	1,631	1,412	1,122	958	991	883	762	686	628
Operating Revenue	1,838	1,631	1,412	1,122	958	991	883	762	686	628
Total Cost of Revenue	1,147	1,023	897	691	624	655	585	495	448	403
Operating Cost of Revenue	1,147	1,023	897	691	624	655	585	495	448	403
Total Operating Expenses	427	369	323	275	224	259	248	194	174	158
Selling, General & Admin Expense	226	198	169	142	114	127	116	103	89	77
Marketing Expense	147	120	98	84	60	72	64	53	51	49
Depreciation Expense	55	50	56	49	50	52	49	39	35	31
Total Other Income / (Expense), net	-2.27	-0.81	-2.06	-9.32	5.31	6.65	11	12	19	8.43
Interest Expense	19	13	8.25	20	11	14	7.23	1.89	1.34	1.34
Other Income / (Expense), net	17	12	6.19	11	16	20	18	14	21	9.77
Income Tax Expense	63	54	48	32	26	15	3.40	36	22	24
Other Gains / (Losses), net	-0.11	0.15	0.43	0.05	-0.23	-0.27	-0.25	0.00	-	-
Basic Earnings per Share	$1.22	$1.11	$0.86	$0.68	$2.61	$1.97	$1.65	$1.44	$1.84	$1.55
Weighted Average Basic Shares Outstanding	162.72M	166.34M	166.65M	167.75M	34.27M	34.35M	34.45M	33.90M	33.57M	33.30M
Diluted Earnings per Share	$1.21	$1.10	$0.85	$0.67	$2.59	$1.95	$1.62	$1.39	$1.79	$1.51
Weighted Average Diluted Shares Outstanding	164.32M	168.16M	169.17M	171.22M	34.56M	34.73M	35.03M	35.11M	34.56M	34.18M
Weighted Average Basic & Diluted Shares Outstanding	162.30M	165.78M	33.30M	33.21M	33.47M	34.36M	34.40M	34M	33.60M	33.30M

This table shows ExlService's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	67	51	53	46	49	40	44	49	51	32	39
Consolidated Net Income / (Loss)	67	51	53	46	49	40	44	49	51	32	39
Net Income / (Loss) Continuing Operations	67	51	53	46	49	40	44	49	51	32	39
Total Pre-Tax Income	80	71	69	60	63	56	58	65	59	45	51
Total Operating Income	78	71	69	61	62	54	60	65	59	51	50
Total Gross Profit	193	183	178	166	163	152	155	152	149	137	131
Total Revenue	501	481	472	448	437	414	411	405	401	375	361
Operating Revenue	501	481	472	448	437	414	411	405	401	375	361
Total Cost of Revenue	308	298	294	282	273	262	256	253	251	237	230
Operating Cost of Revenue	308	298	294	282	273	262	256	253	251	237	230
Total Operating Expenses	115	112	109	105	102	98	95	87	90	86	81
Selling, General & Admin Expense	59	58	57	56	53	54	52	46	47	46	43
Marketing Expense	42	38	38	35	36	32	31	28	29	26	24
Depreciation Expense	14	16	14	13	12	12	12	13	13	14	14
Total Other Income / (Expense), net	1.75	-0.68	-0.87	-1.74	1.02	1.78	-2.22	-0.26	-0.13	-6.54	1.32
Interest Expense	4.14	5.11	5.53	5.33	3.29	3.15	3.41	3.24	3.39	3.43	2.44
Other Income / (Expense), net	5.90	4.43	4.65	3.59	4.31	4.93	1.19	2.99	3.26	-2.99	3.77
Income Tax Expense	13	20	15	14	14	16	14	16	8.06	13	12
Other Gains / (Losses), net	-0.11	-0.04	-0.03	-0.01	-0.03	-0.00	0.03	0.07	0.07	-	0.11
Basic Earnings per Share	$0.41	$0.31	$0.33	$0.28	$0.30	$0.24	$0.26	$0.29	$0.31	$0.19	$0.24
Weighted Average Basic Shares Outstanding	162.49M	162.72M	161.73M	162.79M	165.08M	166.34M	166.16M	166.78M	167.20M	166.65M	166.19M
Diluted Earnings per Share	$0.40	$0.31	$0.33	$0.28	$0.29	$0.24	$0.26	$0.29	$0.30	$0.19	$0.23
Weighted Average Diluted Shares Outstanding	164.56M	164.32M	163.19M	163.96M	166.73M	168.16M	167.69M	168.44M	169.66M	169.17M	168.89M
Weighted Average Basic & Diluted Shares Outstanding	162.69M	162.30M	160.88M	161.40M	162.44M	165.78M	164.92M	33.14M	33.25M	33.30M	33.06M

This table details how cash moves in and out of ExlService's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	26	20	-18	-82	98	23	9.85	-126	9.88	29
Net Cash From Operating Activities	269	211	166	184	203	168	92	113	102	97
Net Cash From Continuing Operating Activities	269	211	166	184	203	168	92	113	102	97
Net Income / (Loss) Continuing Operations	198	185	143	115	89	68	57	49	62	52
Consolidated Net Income / (Loss)	198	185	143	115	89	68	57	49	62	52
Depreciation Expense	55	50	56	50	51	52	49	39	35	31
Amortization Expense	22	20	22	1.80	2.62	30	0.60	0.00	-	-
Non-Cash Adjustments To Reconcile Net Income	54	79	41	79	22	19	28	28	14	11
Changes in Operating Assets and Liabilities, net	-61	-123	-96	-61	38	-0.29	-41	-2.35	-8.25	3.15
Net Cash From Investing Activities	-119	-12	-97	-114	-18	-51	-277	-223	-55	-74
Net Cash From Continuing Investing Activities	-119	-12	-97	-114	-18	-51	-277	-223	-55	-74
Purchase of Property, Plant & Equipment	-46	-53	-45	-37	-42	-41	-41	-35	-26	-26
Acquisitions	-25	-0.60	-3.87	-77	-0.70	0.00	-232	-23	-29	-44
Purchase of Investments	-289	-235	-213	-96	-102	-188	-133	-406	-182	-129
Sale of Property, Plant & Equipment	0.22	0.74	0.27	1.30	0.92	0.41	0.35	-	-	-
Sale and/or Maturity of Investments	241	276	165	95	126	177	128	241	182	125
Net Cash From Financing Activities	-119	-181	-82	-147	-90	-93	198	-20	-33	10
Net Cash From Continuing Financing Activities	-119	-181	-82	-147	-90	-93	198	-20	-33	10
Repayment of Debt	-202	-130	-45	-329	-121	-98	-156	-46	-25	-11
Repurchase of Common Equity	-208	-132	-73	-118	-80	-41	-43	-43	-18	-14
Issuance of Debt	290	80	35	300	110	46	396	61	0.00	30
Issuance of Common Equity	5.02	5.57	1.06	0.71	0.00	-	-	-	-	0.18
Other Financing Activities, net	-4.33	-5.17	-0.14	-0.20	1.25	0.65	1.25	8.56	11	4.83
Effect of Exchange Rate Changes	-4.33	2.03	-6.06	-4.95	3.38	-1.05	-2.87	3.94	-5.12	-4.35
Cash Interest Paid	20	14	8.19	6.59	7.63	11	4.73	1.12	1.18	1.19
Cash Income Taxes Paid	106	105	57	50	21	19	19	19	16	12

This table details how cash moves in and out of ExlService's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-13	8.13	37	8.81	-28	17	27	5.68	-31	27	-17
Net Cash From Operating Activities	3.24	105	110	75	-22	79	69	48	16	65	48
Net Cash From Continuing Operating Activities	3.24	105	110	75	-22	79	69	48	16	65	48
Net Income / (Loss) Continuing Operations	67	51	53	46	49	40	44	49	51	32	39
Consolidated Net Income / (Loss)	67	51	53	46	49	40	44	49	51	32	39
Depreciation Expense	14	16	14	13	12	12	12	13	13	14	14
Amortization Expense	6.06	5.69	5.72	5.35	5.00	5.02	4.84	5.45	4.88	4.42	5.36
Non-Cash Adjustments To Reconcile Net Income	19	13	37	-2.49	7.07	25	18	9.20	27	20	6.17
Changes in Operating Assets and Liabilities, net	-102	20	0.59	13	-95	-3.50	-10	-29	-81	-5.40	-17
Net Cash From Investing Activities	-22	-25	-51	-48	4.69	-23	-0.35	-32	43	-21	-34
Net Cash From Continuing Investing Activities	-22	-25	-51	-48	4.69	-23	-0.35	-32	43	-21	-34
Purchase of Property, Plant & Equipment	-13	-10	-13	-12	-11	-12	-15	-14	-12	-13	-7.05
Acquisitions	-0.60	0.17	-	-	-	-	-	-	-	-0.55	-0.75
Purchase of Investments	-90	-63	-66	-95	-65	-70	-51	-62	-51	-48	-68
Sale of Property, Plant & Equipment	0.10	0.04	0.08	0.03	0.06	0.10	0.09	-0.02	0.57	0.07	0.04
Sale and/or Maturity of Investments	81	49	52	59	81	59	66	44	107	40	42
Net Cash From Financing Activities	3.41	-67	-25	-18	-9.77	-40	-39	-11	-91	-20	-27
Net Cash From Continuing Financing Activities	3.41	-67	-25	-18	-9.77	-40	-39	-11	-91	-20	-27
Repayment of Debt	-31	-56	-101	-10	-35	-20	-10	-	-100	-20	-15
Repurchase of Common Equity	-18	-12	-35	-8.42	-152	-31	-30	-28	-42	-0.93	-12
Issuance of Debt	50	-	110	-	180	10	-	20	50	-	-
Issuance of Common Equity	2.77	1.50	1.05	0.96	1.51	0.88	0.81	2.78	1.10	1.06	-
Other Financing Activities, net	-0.12	-0.10	-0.09	-0.07	-4.06	-0.05	-0.04	-5.04	-0.04	-0.03	-0.03
Effect of Exchange Rate Changes	2.70	-5.66	3.17	-0.63	-1.21	2.32	-1.80	0.23	1.28	3.57	-4.26
Cash Interest Paid	3.79	5.26	5.41	5.97	2.97	3.32	3.67	3.59	3.33	3.21	2.29
Cash Income Taxes Paid	9.60	28	28	39	11	28	23	47	6.53	22	21

This table presents ExlService's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	1,618	1,442	1,346	1,283	1,248	1,183	1,062	825	707	651
Total Current Assets	795	680	613	578	609	541	500	453	379	339
Cash & Equivalents	153	137	119	135	219	119	96	87	213	205
Restricted Cash	9.97	4.06	4.90	6.17	4.69	5.45	5.61	3.67	3.85	1.87
Short-Term Investments	187	154	179	179	184	202	184	178	13	14
Accounts Receivable	304	308	259	194	148	172	165	136	113	93
Other Current Assets	140	77	51	63	37	25	28	30	21	15
Plant, Property, & Equipment, net	102	100	83	0.00	93	79	74	67	49	48
Total Noncurrent Assets	721	662	650	705	546	563	488	306	279	264
Long-Term Investments	14	4.43	35	3.19	2.96	2.48	2.75	3.00	0.00	-
Goodwill	420	406	406	404	349	350	350	204	187	172
Intangible Assets	49	50	65	81	60	74	95	49	54	53
Noncurrent Deferred & Refundable Income Taxes	105	83	56	21	7.75	12	6.60	9.28	15	14
Other Noncurrent Operating Assets	133	119	89	195	126	125	34	40	20	22
Total Liabilities & Shareholders' Equity	1,618	1,442	1,346	1,283	1,248	1,183	1,062	825	707	651
Total Liabilities	689	553	588	590	529	513	444	225	174	185
Total Current Liabilities	290	326	278	496	221	229	155	144	124	107
Short-Term Debt	4.89	65	30	260	25	41	22	11	10	10
Accounts Payable	5.88	5.06	7.79	5.65	6.99	6.56	5.65	5.92	3.29	6.40
Accrued Expenses	114	114	95	76	66	74	64	61	43	34
Current Deferred Revenue	19	12	19	20	33	13	7.72	11	17	12
Current Employee Benefit Liabilities	130	117	108	114	68	69	55	56	51	45
Other Current Liabilities	16	13	15	18	19	24	0.00	-	-	-
Total Noncurrent Liabilities	398	226	310	94	308	284	289	81	50	78
Long-Term Debt	284	135	220	0.00	202	194	263	67	50	78
Noncurrent Deferred & Payable Income Tax Liabilities	1.40	1.50	0.55	0.97	0.85	0.97	8.45	0.70	-	-
Other Noncurrent Operating Liabilities	113	90	89	93	18	87	17	0.00	0.00	0.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	930	889	758	693	719	670	618	600	532	466
Total Preferred & Common Equity	930	889	758	693	719	670	618	600	532	466
Preferred Stock	0.00	0.00	0.00	-	0.00	0.00	0.00	-	-	-
Total Common Equity	930	889	758	693	719	670	618	600	532	466
Common Stock	589	508	445	396	421	391	364	322	285	254
Retained Earnings	1,282	1,084	899	756	641	552	484	427	383	321
Treasury Stock	-786	-575	-442	-369	-268	-188	-147	-104	-60	-42
Accumulated Other Comprehensive Income / (Loss)	-155	-127	-144	-89	-75	-85	-83	-46	-75	-67

This table presents ExlService's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,676	1,610	1,504	1,439	1,402	1,363	1,309	1,319
Total Current Assets	831	768	704	665	652	613	566	581
Cash & Equivalents	140	150	115	109	123	94	87	89
Restricted Cash	9.83	7.34	6.35	4.29	3.26	4.63	5.60	7.01
Short-Term Investments	191	176	161	138	152	156	116	173
Accounts Receivable	340	341	328	336	303	288	291	257
Other Current Assets	150	94	94	79	71	70	66	55
Plant, Property, & Equipment, net	107	107	103	102	97	94	0.00	80
Total Noncurrent Assets	738	729	697	673	654	656	742	658
Long-Term Investments	20	14	19	4.40	5.27	16	36	35
Goodwill	420	428	406	406	406	406	406	406
Intangible Assets	46	51	44	47	53	56	61	69
Noncurrent Deferred & Refundable Income Taxes	110	107	101	92	80	69	62	55
Other Noncurrent Operating Assets	141	129	127	124	110	109	178	94
Total Liabilities & Shareholders' Equity	1,676	1,610	1,504	1,439	1,402	1,363	1,309	1,319
Total Liabilities	665	702	651	636	546	528	513	614
Total Current Liabilities	244	254	287	261	306	259	281	287
Short-Term Debt	4.89	4.89	75	65	50	30	40	35
Accounts Payable	5.65	4.08	3.00	3.09	3.16	3.02	3.38	3.49
Accrued Expenses	132	105	98	107	108	104	133	97
Current Deferred Revenue	20	12	15	17	14	21	22	19
Current Employee Benefit Liabilities	64	111	80	51	106	82	50	92
Other Current Liabilities	17	17	15	13	14	14	14	17
Total Noncurrent Liabilities	421	448	364	375	240	269	232	327
Long-Term Debt	302	340	260	280	160	190	160	235
Noncurrent Deferred & Payable Income Tax Liabilities	1.63	3.25	2.27	1.44	0.46	0.51	0.49	0.76
Other Noncurrent Operating Liabilities	117	105	102	93	80	79	72	37
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,012	908	853	803	856	834	795	705
Total Preferred & Common Equity	1,012	908	853	803	856	834	795	705
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Total Common Equity	1,012	908	853	803	856	834	795	705
Common Stock	610	573	521	503	493	472	461	433
Retained Earnings	1,349	1,231	1,178	1,132	1,043	1,000	950	867
Treasury Stock	-804	-774	-711	-702	-543	-513	-484	-441
Accumulated Other Comprehensive Income / (Loss)	-143	-123	-136	-130	-137	-124	-131	-154

This table displays calculated financial ratios and metrics derived from ExlService's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.74%	15.48%	25.82%	17.10%	-3.32%	12.26%	15.85%	11.13%	9.15%	25.88%
EBITDA Growth	11.19%	16.42%	26.47%	21.58%	0.52%	52.86%	-7.14%	5.09%	10.34%	64.43%
EBIT Growth	11.74%	26.60%	18.80%	31.97%	30.82%	43.07%	-22.23%	1.99%	10.52%	102.89%
NOPAT Growth	8.16%	28.43%	18.09%	42.57%	36.93%	32.92%	12.45%	-11.91%	3.57%	56.17%
Net Income Growth	7.44%	29.09%	24.58%	28.26%	32.25%	19.27%	16.03%	-20.81%	19.72%	58.93%
EPS Growth	10.00%	29.41%	24.58%	28.26%	32.82%	20.37%	16.55%	-22.35%	18.54%	57.29%
Operating Cash Flow Growth	27.14%	27.12%	-9.90%	-9.16%	20.52%	82.20%	-18.31%	10.51%	5.90%	45.05%
Free Cash Flow Firm Growth	107.55%	-35.76%	-9.86%	178.96%	-59.96%	162.67%	-3,048.42%	-127.52%	184.02%	121.34%
Invested Capital Growth	8.06%	17.79%	6.64%	1.37%	7.80%	-6.36%	51.57%	13.09%	8.71%	13.50%
Revenue Q/Q Growth	3.80%	2.47%	5.94%	4.33%	-0.82%	2.27%	4.38%	2.78%	1.69%	5.11%
EBITDA Q/Q Growth	6.25%	3.20%	14.61%	-1.89%	-6.01%	19.36%	-9.52%	1.06%	-0.25%	13.38%
EBIT Q/Q Growth	6.24%	4.67%	4.84%	-1.90%	13.51%	31.16%	-19.20%	0.80%	-1.83%	19.35%
NOPAT Q/Q Growth	6.55%	1.16%	7.39%	-3.82%	13.99%	44.70%	25.31%	-32.36%	-3.26%	17.66%
Net Income Q/Q Growth	5.53%	4.79%	2.55%	-3.30%	13.82%	34.89%	30.36%	-33.69%	1.19%	16.49%
EPS Q/Q Growth	4.31%	3.77%	2.55%	-3.30%	13.10%	34.48%	31.71%	-34.43%	1.13%	17.05%
Operating Cash Flow Q/Q Growth	10.86%	7.09%	-3.25%	-3.17%	7.52%	11.42%	2.74%	-3.10%	4.29%	25.73%
Free Cash Flow Firm Q/Q Growth	89.54%	-47.18%	73.01%	178.53%	-67.38%	31.65%	21.58%	-132.29%	-8.04%	112.94%
Invested Capital Q/Q Growth	-5.04%	0.87%	-7.46%	-3.20%	10.08%	-6.15%	-5.04%	0.62%	0.40%	0.42%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	37.59%	37.27%	36.50%	38.44%	34.90%	33.88%	33.77%	35.05%	34.73%	35.89%
EBITDA Margin	19.45%	19.72%	19.56%	19.46%	18.74%	18.03%	13.24%	16.52%	17.46%	17.28%
Operating Margin	14.34%	14.64%	13.61%	13.89%	11.48%	7.71%	5.64%	9.54%	9.40%	10.72%
EBIT Margin	15.26%	15.40%	14.05%	14.88%	13.20%	9.76%	7.65%	11.40%	12.42%	12.27%
Profit (Net Income) Margin	10.79%	11.32%	10.12%	10.23%	9.34%	6.83%	6.42%	6.41%	9.00%	8.20%
Tax Burden Percent	75.88%	77.56%	75.21%	78.30%	77.58%	81.42%	93.96%	57.49%	73.59%	68.05%
Interest Burden Percent	93.14%	94.75%	95.84%	87.78%	91.16%	85.93%	89.31%	97.83%	98.42%	98.26%
Effective Tax Rate	24.08%	22.50%	25.02%	21.73%	22.22%	18.26%	5.63%	42.51%	26.41%	31.95%
Return on Invested Capital (ROIC)	24.35%	25.33%	22.17%	19.53%	14.31%	10.50%	9.22%	10.94%	13.79%	14.77%
ROIC Less NNEP Spread (ROIC-NNEP)	26.45%	25.84%	23.64%	28.43%	10.26%	-0.05%	-0.59%	7.10%	4.56%	10.43%
Return on Net Nonoperating Assets (RNNOA)	-2.55%	-2.93%	-2.47%	-3.28%	-1.43%	0.00%	0.10%	-2.31%	-1.41%	-3.12%
Return on Equity (ROE)	21.80%	22.40%	19.70%	16.25%	12.88%	10.50%	9.31%	8.64%	12.37%	11.65%
Cash Return on Invested Capital (CROIC)	16.60%	9.00%	15.74%	18.17%	6.80%	17.07%	-31.79%	-1.35%	5.44%	2.12%
Operating Return on Assets (OROA)	18.34%	18.01%	15.09%	13.20%	10.41%	8.62%	7.16%	11.35%	12.56%	12.60%
Return on Assets (ROA)	12.96%	13.24%	10.88%	9.07%	7.36%	6.03%	6.01%	6.38%	9.10%	8.42%
Return on Common Equity (ROCE)	21.80%	22.40%	19.70%	16.25%	12.88%	10.50%	9.31%	8.63%	12.37%	11.65%
Return on Equity Simple (ROE_SIMPLE)	21.33%	20.75%	18.86%	16.56%	12.44%	10.10%	9.18%	8.15%	11.60%	11.08%
Net Operating Profit after Tax (NOPAT)	200	185	144	122	86	62	47	42	47	46
NOPAT Margin	10.89%	11.35%	10.20%	10.87%	8.93%	6.30%	5.32%	5.48%	6.92%	7.29%
Net Nonoperating Expense Percent (NNEP)	-2.10%	-0.51%	-1.47%	-8.91%	4.04%	10.55%	9.81%	3.85%	9.22%	4.34%
Return On Investment Capital (ROIC_SIMPLE)	16.43%	16.98%	14.29%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	62.41%	62.73%	63.50%	61.56%	65.10%	66.12%	66.23%	64.95%	65.27%	64.11%
SG&A Expenses to Revenue	12.28%	12.16%	11.97%	12.66%	11.88%	12.80%	13.16%	13.45%	12.92%	12.30%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	23.25%	22.63%	22.90%	24.55%	23.42%	26.17%	28.13%	25.51%	25.33%	25.18%
Earnings before Interest and Taxes (EBIT)	281	251	198	167	127	97	68	87	85	77
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	358	322	276	218	180	179	117	126	120	109
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.68	5.72	7.39	6.96	4.00	3.53	2.92	3.42	3.18	3.19
Price to Tangible Book Value (P/TBV)	15.52	11.73	19.47	23.16	9.27	9.61	10.44	5.91	5.80	6.16
Price to Revenue (P/Rev)	3.88	3.12	3.97	4.30	3.00	2.39	2.04	2.69	2.46	2.37
Price to Earnings (P/E)	36.01	27.57	39.18	42.01	32.17	35.00	31.78	41.90	27.38	28.83
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.78%	3.63%	2.55%	2.38%	3.11%	2.86%	3.15%	2.39%	3.65%	3.47%
Enterprise Value to Invested Capital (EV/IC)	8.27	6.31	8.22	7.56	4.48	3.95	2.93	4.57	4.24	4.10
Enterprise Value to Revenue (EV/Rev)	3.84	3.06	3.91	4.24	2.90	2.29	2.04	2.43	2.22	2.15
Enterprise Value to EBITDA (EV/EBITDA)	19.75	15.51	19.96	21.78	15.47	12.72	15.39	14.73	12.69	12.47
Enterprise Value to EBIT (EV/EBIT)	25.17	19.87	27.80	28.49	21.97	23.51	26.62	21.33	17.84	17.56
Enterprise Value to NOPAT (EV/NOPAT)	35.30	26.96	38.28	38.99	32.48	36.39	38.27	44.35	32.03	29.55
Enterprise Value to Operating Cash Flow (EV/OCF)	26.31	23.62	33.19	25.80	13.69	13.50	19.47	16.39	14.85	14.00
Enterprise Value to Free Cash Flow (EV/FCFF)	51.78	75.89	53.90	41.91	68.31	22.38	0.00	0.00	81.21	205.46
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.31	0.22	0.33	0.38	0.43	0.35	0.46	0.13	0.11	0.19
Long-Term Debt to Equity	0.31	0.15	0.29	0.00	0.40	0.29	0.43	0.11	0.09	0.17
Financial Leverage	-0.10	-0.11	-0.10	-0.12	-0.14	-0.08	-0.16	-0.33	-0.31	-0.30
Leverage Ratio	1.68	1.69	1.81	1.79	1.75	1.74	1.55	1.35	1.36	1.38
Compound Leverage Factor	1.57	1.60	1.74	1.57	1.60	1.50	1.38	1.32	1.34	1.36
Debt to Total Capital	23.68%	18.36%	24.80%	27.28%	30.25%	25.97%	31.57%	11.44%	10.19%	15.94%
Short-Term Debt to Total Capital	0.40%	5.97%	2.98%	27.28%	2.42%	4.52%	2.40%	1.56%	1.73%	1.87%
Long-Term Debt to Total Capital	23.28%	12.39%	21.82%	0.00%	27.82%	21.45%	29.17%	9.88%	8.46%	14.07%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.03%	0.03%	0.03%
Common Equity to Total Capital	76.32%	81.64%	75.20%	72.72%	69.75%	74.03%	68.41%	88.53%	89.78%	84.03%
Debt to EBITDA	0.81	0.62	0.91	1.19	1.74	1.32	2.44	0.62	0.50	0.81
Net Debt to EBITDA	-0.21	-0.31	-0.32	-0.29	-0.55	-0.53	-0.03	-1.54	-1.42	-1.22
Long-Term Debt to EBITDA	0.79	0.42	0.80	0.00	1.60	1.09	2.25	0.53	0.42	0.72
Debt to NOPAT	1.44	1.08	1.74	2.13	3.64	3.76	6.07	1.85	1.27	1.93
Net Debt to NOPAT	-0.38	-0.54	-0.61	-0.53	-1.15	-1.51	-0.08	-4.65	-3.58	-2.89
Long-Term Debt to NOPAT	1.42	0.73	1.53	0.00	3.35	3.11	5.61	1.60	1.06	1.70
Altman Z-Score	9.41	8.58	8.49	7.11	5.46	4.85	4.51	7.90	8.38	7.30
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.04%	0.04%	0.04%	0.02%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.74	2.08	2.20	1.17	2.76	2.36	3.22	3.14	3.05	3.17
Quick Ratio	2.22	1.84	2.00	1.03	2.49	2.15	2.87	2.78	2.73	2.91
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	136	66	102	114	41	102	-162	-5.15	19	6.59
Operating Cash Flow to CapEx	583.15%	405.65%	372.76%	512.93%	491.36%	419.60%	228.59%	321.90%	396.11%	377.92%
Free Cash Flow to Firm to Interest Expense	7.08	4.99	12.40	5.56	3.64	7.47	-22.44	-2.73	13.94	4.93
Operating Cash Flow to Interest Expense	13.95	16.02	20.13	9.04	18.14	12.37	12.79	59.90	76.24	72.27
Operating Cash Flow Less CapEx to Interest Expense	11.55	12.07	14.73	7.27	14.45	9.42	7.20	41.29	57.00	53.14
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.20	1.17	1.07	0.89	0.79	0.88	0.94	1.00	1.01	1.03
Accounts Receivable Turnover	6.00	5.75	6.23	6.57	6.00	5.89	5.88	6.13	6.67	7.27
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	18.18	17.80	0.00	0.00	11.14	12.99	12.59	13.17	14.14	13.46
Accounts Payable Turnover	209.77	159.28	133.46	109.33	92.05	107.31	101.09	107.57	92.42	72.83
Days Sales Outstanding (DSO)	60.80	63.49	58.61	55.59	60.84	61.97	62.09	59.56	54.73	50.20
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	1.74	2.29	2.73	3.34	3.97	3.40	3.61	3.39	3.95	5.01
Cash Conversion Cycle (CCC)	59.06	61.20	55.87	52.25	56.87	58.57	58.48	56.16	50.78	45.19
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	854	790	671	629	621	576	615	406	359	330
Invested Capital Turnover	2.24	2.23	2.17	1.80	1.60	1.67	1.73	1.99	1.99	2.03
Increase / (Decrease) in Invested Capital	64	119	42	8.50	45	-39	209	47	29	39
Enterprise Value (EV)	7,064	4,989	5,515	4,757	2,780	2,274	1,799	1,854	1,520	1,354
Market Capitalization	7,140	5,088	5,602	4,821	2,878	2,368	1,803	2,048	1,690	1,486
Book Value per Share	$5.78	$5.39	$22.93	$20.81	$21.27	$19.65	$18.04	$17.67	$15.88	$14.07
Tangible Book Value per Share	$2.86	$2.63	$8.70	$6.25	$9.18	$7.23	$5.04	$10.20	$8.70	$7.29
Total Capital	1,218	1,089	1,008	953	1,031	905	904	678	593	554
Total Debt	288	200	250	260	312	235	285	78	60	88
Total Long-Term Debt	284	135	220	0.00	287	194	264	67	50	78
Net Debt	-76	-99	-87	-64	-99	-94	-3.53	-194	-170	-133
Capital Expenditures (CapEx)	46	52	45	36	41	40	40	35	26	26
Debt-free, Cash-free Net Working Capital (DFCFNWC)	159	123	62	22	5.69	26	81	50	34	22
Debt-free Net Working Capital (DFNWC)	510	418	365	342	413	353	366	319	265	243
Net Working Capital (NWC)	505	353	335	82	388	312	345	309	255	232
Net Nonoperating Expense (NNE)	1.84	0.48	1.11	7.25	-3.90	-5.16	-9.71	-7.08	-14	-5.74
Net Nonoperating Obligations (NNO)	-76	-99	-87	-64	-99	-94	-3.53	-194	-174	-136
Total Depreciation and Amortization (D&A)	77	70	78	51	53	82	49	39	35	31
Debt-free, Cash-free Net Working Capital to Revenue	8.67%	7.57%	4.41%	1.92%	0.59%	2.61%	9.12%	6.59%	5.00%	3.44%
Debt-free Net Working Capital to Revenue	27.74%	25.65%	25.84%	30.52%	43.11%	35.59%	41.50%	41.87%	38.60%	38.59%
Net Working Capital to Revenue	27.47%	21.66%	23.71%	7.35%	40.50%	31.46%	39.05%	40.48%	37.11%	36.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.22	$1.11	$0.86	$0.68	$0.52	$0.39	$0.33	$0.29	$0.37	$0.31
Adjusted Weighted Average Basic Shares Outstanding	162.72M	166.34M	166.65M	167.75M	171.37M	171.75M	172.26M	169.49M	167.83M	166.49M
Adjusted Diluted Earnings per Share	$1.21	$1.10	$0.85	$0.67	$0.52	$0.39	$0.32	$0.28	$0.36	$0.30
Adjusted Weighted Average Diluted Shares Outstanding	164.32M	168.16M	169.17M	171.22M	172.78M	173.66M	175.15M	175.55M	172.82M	170.89M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	162.30M	165.78M	166.50M	166.03M	167.37M	171.82M	171.62M	170.99M	168.98M	166.35M
Normalized Net Operating Profit after Tax (NOPAT)	200	185	144	122	86	70	66	42	47	46
Normalized NOPAT Margin	10.89%	11.35%	10.20%	10.87%	8.93%	7.02%	7.47%	5.48%	6.92%	7.29%
Pre Tax Income Margin	14.22%	14.59%	13.46%	13.06%	12.03%	8.38%	6.84%	11.15%	12.23%	12.06%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	14.57	19.05	24.04	8.18	11.31	7.10	9.35	46.02	63.46	57.63
NOPAT to Interest Expense	10.39	14.04	17.46	5.98	7.65	4.59	6.51	22.13	35.34	34.25
EBIT Less CapEx to Interest Expense	12.18	15.10	18.64	6.42	7.61	4.16	3.76	27.41	44.21	38.51
NOPAT Less CapEx to Interest Expense	8.00	10.09	12.06	4.22	3.96	1.64	0.91	3.52	16.09	15.13
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	104.86%	71.44%	50.81%	103.14%	89.35%	61.14%	76.00%	88.88%	29.49%	27.53%

This table displays calculated financial ratios and metrics derived from ExlService's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.78%	16.27%	14.87%	10.71%	8.95%	10.50%	13.73%	16.79%	21.70%	26.81%	24.46%
EBITDA Growth	24.95%	27.50%	20.33%	-3.50%	2.68%	14.97%	5.87%	26.24%	19.37%	112.39%	13.82%
EBIT Growth	28.06%	27.83%	20.58%	-4.07%	4.99%	23.33%	14.00%	40.28%	30.26%	23.59%	18.85%
NOPAT Growth	35.88%	31.27%	18.06%	-4.11%	-6.57%	7.27%	19.86%	37.05%	53.11%	35.93%	3.69%
Net Income Growth	36.50%	25.79%	20.88%	-6.61%	-5.00%	26.48%	12.23%	36.89%	41.88%	12.54%	47.49%
EPS Growth	37.93%	29.17%	26.92%	-3.45%	-3.33%	26.32%	13.04%	36.89%	41.88%	12.54%	47.49%
Operating Cash Flow Growth	114.83%	33.29%	60.55%	57.59%	-236.49%	21.50%	42.68%	-40.49%	159.64%	-7.89%	-19.62%
Free Cash Flow Firm Growth	100.91%	84.42%	-380.66%	-372.47%	-213.28%	-1,385.49%	65.12%	132.50%	186.10%	-129.62%	25.11%
Invested Capital Growth	7.20%	8.06%	14.79%	13.08%	19.08%	17.79%	8.06%	3.83%	-4.16%	6.64%	11.55%
Revenue Q/Q Growth	4.07%	1.98%	5.29%	2.72%	5.42%	0.75%	1.48%	1.09%	6.92%	3.70%	4.20%
EBITDA Q/Q Growth	6.55%	4.17%	12.41%	0.14%	8.73%	-1.69%	-9.85%	6.55%	21.75%	-9.47%	7.50%
EBIT Q/Q Growth	11.41%	2.19%	13.87%	-1.22%	11.21%	-3.61%	-9.41%	8.11%	30.63%	-10.90%	11.48%
NOPAT Q/Q Growth	27.37%	-4.74%	13.94%	-1.72%	23.05%	-14.33%	-7.46%	-4.24%	41.29%	-4.27%	5.82%
Net Income Q/Q Growth	31.36%	-4.46%	15.74%	-6.03%	21.05%	-8.19%	-10.58%	-4.41%	61.17%	-18.53%	9.06%
EPS Q/Q Growth	29.03%	-6.06%	17.86%	-3.45%	20.83%	-7.69%	-10.34%	-4.41%	61.17%	-18.53%	9.06%
Operating Cash Flow Q/Q Growth	-96.92%	-4.35%	47.03%	442.48%	-127.67%	15.21%	44.32%	196.62%	-75.37%	35.30%	-39.81%
Free Cash Flow Firm Q/Q Growth	106.90%	79.86%	-12.40%	41.90%	-25.31%	-521.35%	-163.71%	-75.85%	1,653.46%	85.41%	40.64%
Invested Capital Q/Q Growth	12.17%	-5.04%	1.50%	-0.84%	13.71%	0.87%	-0.02%	4.42%	11.85%	-7.46%	-3.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.58%	38.10%	37.76%	37.08%	37.36%	36.67%	37.71%	37.48%	37.23%	36.64%	36.22%
EBITDA Margin	20.74%	20.26%	19.83%	18.57%	19.05%	18.47%	18.93%	21.31%	20.22%	17.76%	20.34%
Operating Margin	15.65%	14.80%	14.70%	13.71%	14.09%	13.11%	14.66%	16.00%	14.84%	13.61%	13.87%
EBIT Margin	16.83%	15.72%	15.69%	14.50%	15.08%	14.30%	14.94%	16.74%	15.65%	12.81%	14.91%
Profit (Net Income) Margin	13.29%	10.53%	11.23%	10.22%	11.17%	9.73%	10.68%	12.12%	12.81%	8.50%	10.82%
Tax Burden Percent	83.03%	71.81%	77.39%	76.75%	77.97%	71.87%	75.63%	76.01%	86.53%	71.46%	76.01%
Interest Burden Percent	95.08%	93.25%	92.54%	91.81%	95.00%	94.68%	94.46%	95.22%	94.60%	92.85%	95.47%
Effective Tax Rate	16.84%	28.13%	22.56%	23.24%	21.99%	28.12%	24.41%	24.09%	13.58%	28.70%	24.20%
Return on Invested Capital (ROIC)	26.76%	23.79%	23.97%	21.55%	22.30%	21.03%	23.38%	24.35%	24.81%	21.08%	20.38%
ROIC Less NNEP Spread (ROIC-NNEP)	34.24%	24.39%	25.72%	36.94%	25.69%	19.66%	29.67%	22.94%	24.59%	27.04%	5.43%
Return on Net Nonoperating Assets (RNNOA)	0.68%	-2.35%	-1.18%	-0.38%	0.73%	-2.23%	-1.00%	0.27%	0.62%	-2.82%	-0.06%
Return on Equity (ROE)	27.44%	21.44%	22.79%	21.17%	23.02%	18.80%	22.38%	24.63%	25.43%	18.26%	20.32%
Cash Return on Invested Capital (CROIC)	16.54%	16.60%	8.56%	9.25%	4.69%	9.00%	16.50%	19.04%	25.39%	15.74%	8.60%
Operating Return on Assets (OROA)	20.55%	18.89%	18.45%	17.30%	18.29%	16.72%	17.48%	19.45%	17.98%	13.76%	15.98%
Return on Assets (ROA)	16.23%	12.65%	13.21%	12.19%	13.55%	11.38%	12.49%	14.08%	14.72%	9.13%	11.60%
Return on Common Equity (ROCE)	27.44%	21.44%	22.79%	21.17%	23.02%	18.80%	22.38%	24.63%	25.43%	18.26%	20.32%
Return on Equity Simple (ROE_SIMPLE)	21.36%	0.00%	20.70%	20.96%	22.66%	0.00%	20.57%	20.54%	19.88%	0.00%	19.79%
Net Operating Profit after Tax (NOPAT)	65	51	54	47	48	39	46	49	51	36	38
NOPAT Margin	13.02%	10.64%	11.39%	10.52%	11.00%	9.42%	11.08%	12.15%	12.82%	9.70%	10.51%
Net Nonoperating Expense Percent (NNEP)	-7.48%	-0.60%	-1.75%	-15.39%	-3.40%	1.37%	-6.29%	1.41%	0.22%	-5.96%	14.95%
Return On Investment Capital (ROIC_SIMPLE)	4.94%	4.20%	-	-	-	3.58%	-	-	-	3.61%	-
Cost of Revenue to Revenue	61.42%	61.90%	62.24%	62.92%	62.64%	63.33%	62.29%	62.52%	62.77%	63.36%	63.78%
SG&A Expenses to Revenue	11.86%	12.15%	12.18%	12.59%	12.20%	12.98%	12.70%	11.26%	11.67%	12.31%	11.77%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	22.93%	23.30%	23.06%	23.38%	23.27%	23.57%	23.05%	21.47%	22.40%	23.03%	22.35%
Earnings before Interest and Taxes (EBIT)	84	76	74	65	66	59	61	68	63	48	54
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	104	98	94	83	83	76	78	86	81	67	73
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.57	7.68	6.78	5.97	6.56	5.72	5.43	6.02	6.78	7.39	6.91
Price to Tangible Book Value (P/TBV)	14.05	15.52	14.37	12.64	15.04	11.73	11.70	13.51	16.39	19.47	21.20
Price to Revenue (P/Rev)	4.03	3.88	3.48	2.98	3.16	3.12	2.92	3.26	3.63	3.97	3.66
Price to Earnings (P/E)	35.46	36.01	32.77	28.50	28.97	27.57	26.38	29.31	34.08	39.18	34.95
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.82%	2.78%	3.05%	3.51%	3.45%	3.63%	3.79%	3.41%	2.93%	2.55%	2.86%
Enterprise Value to Invested Capital (EV/IC)	7.94	8.27	6.85	5.79	6.00	6.31	5.84	6.35	7.12	8.22	6.75
Enterprise Value to Revenue (EV/Rev)	4.00	3.84	3.48	3.00	3.22	3.06	2.87	3.22	3.60	3.91	3.67
Enterprise Value to EBITDA (EV/EBITDA)	20.11	19.75	18.29	15.99	16.56	15.51	14.68	16.18	18.47	19.96	20.30
Enterprise Value to EBIT (EV/EBIT)	25.44	25.17	23.30	20.39	21.09	19.87	19.06	21.39	25.10	27.80	25.86
Enterprise Value to NOPAT (EV/NOPAT)	34.98	35.30	32.77	28.54	29.51	26.96	25.01	28.36	32.99	38.28	36.46
Enterprise Value to Operating Cash Flow (EV/OCF)	25.91	26.31	25.41	25.55	30.94	23.62	23.19	28.14	25.57	33.19	28.49
Enterprise Value to Free Cash Flow (EV/FCFF)	49.68	51.78	85.52	66.42	139.06	75.89	36.75	33.96	27.46	53.90	82.73
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.30	0.31	0.38	0.39	0.43	0.22	0.25	0.26	0.25	0.33	0.46
Long-Term Debt to Equity	0.30	0.31	0.37	0.30	0.35	0.15	0.19	0.23	0.20	0.29	0.41
Financial Leverage	0.02	-0.10	-0.05	-0.01	0.03	-0.11	-0.03	0.01	0.03	-0.10	-0.01
Leverage Ratio	1.72	1.68	1.71	1.70	1.72	1.69	1.74	1.75	1.73	1.81	1.79
Compound Leverage Factor	1.63	1.57	1.58	1.56	1.63	1.60	1.65	1.66	1.63	1.68	1.71
Debt to Total Capital	23.29%	23.68%	27.53%	28.21%	30.05%	18.36%	19.70%	20.87%	20.10%	24.80%	31.51%
Short-Term Debt to Total Capital	0.37%	0.40%	0.39%	6.32%	5.66%	5.97%	4.69%	2.85%	4.02%	2.98%	3.40%
Long-Term Debt to Total Capital	22.92%	23.28%	27.14%	21.89%	24.38%	12.39%	15.01%	18.02%	16.08%	21.82%	28.11%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	76.71%	76.32%	72.47%	71.79%	69.95%	81.64%	80.30%	79.13%	79.90%	75.20%	68.49%
Debt to EBITDA	0.81	0.81	1.02	1.04	1.07	0.62	0.67	0.72	0.69	0.91	1.34
Net Debt to EBITDA	-0.14	-0.21	-0.01	0.10	0.28	-0.31	-0.23	-0.17	-0.16	-0.32	0.08
Long-Term Debt to EBITDA	0.80	0.79	1.01	0.81	0.86	0.42	0.51	0.62	0.55	0.80	1.20
Debt to NOPAT	1.41	1.44	1.84	1.86	1.90	1.08	1.15	1.26	1.23	1.74	2.42
Net Debt to NOPAT	-0.25	-0.38	-0.01	0.19	0.50	-0.54	-0.40	-0.29	-0.28	-0.61	0.15
Long-Term Debt to NOPAT	1.39	1.42	1.81	1.45	1.54	0.73	0.87	1.08	0.99	1.53	2.16
Altman Z-Score	9.77	9.00	7.97	7.40	7.72	8.14	7.72	8.34	8.87	8.12	7.09
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.41	2.74	3.02	2.45	2.54	2.08	2.13	2.37	2.02	2.20	2.02
Quick Ratio	2.76	2.22	2.62	2.10	2.22	1.84	1.89	2.08	1.76	2.00	1.81
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.86	-13	-62	-55	-95	-80	-13	20	84	-5.41	-37
Operating Cash Flow to CapEx	25.25%	1,050.20%	862.03%	622.43%	-195.22%	681.48%	460.41%	348.18%	134.51%	513.51%	686.68%
Free Cash Flow to Firm to Interest Expense	0.21	-2.45	-11.24	-10.37	-28.91	-25.49	-3.80	6.26	24.81	-1.58	-15.17
Operating Cash Flow to Interest Expense	0.78	20.61	19.93	14.06	-6.65	25.09	20.15	14.67	4.73	18.95	19.69
Operating Cash Flow Less CapEx to Interest Expense	-2.32	18.65	17.62	11.80	-10.05	21.41	15.77	10.46	1.21	15.26	16.82
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.22	1.20	1.18	1.19	1.21	1.17	1.17	1.16	1.15	1.07	1.07
Accounts Receivable Turnover	5.64	6.00	5.50	5.55	5.32	5.75	5.68	5.86	5.60	6.23	5.94
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	18.23	18.18	17.35	17.34	0.00	17.80	18.02	17.49	0.00	0.00	16.27
Accounts Payable Turnover	270.37	209.77	307.01	357.02	322.64	159.28	300.36	263.00	229.96	133.46	264.72
Days Sales Outstanding (DSO)	64.77	60.80	66.39	65.74	68.56	63.49	64.26	62.24	65.18	58.61	61.49
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	1.35	1.74	1.19	1.02	1.13	2.29	1.22	1.39	1.59	2.73	1.38
Cash Conversion Cycle (CCC)	63.42	59.06	65.20	64.72	67.43	61.20	63.04	60.85	63.59	55.87	60.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	958	854	899	886	893	790	783	783	750	671	725
Invested Capital Turnover	2.06	2.24	2.11	2.05	2.03	2.23	2.11	2.00	1.94	2.17	1.94
Increase / (Decrease) in Invested Capital	64	64	116	102	143	119	58	29	-33	42	75
Enterprise Value (EV)	7,608	7,064	6,155	5,127	5,362	4,989	4,574	4,971	5,344	5,515	4,892
Market Capitalization	7,662	7,140	6,158	5,094	5,272	5,088	4,647	5,022	5,389	5,602	4,872
Book Value per Share	$6.23	$5.78	$5.62	$5.25	$4.85	$5.39	$25.83	$25.09	$23.88	$22.93	$21.31
Tangible Book Value per Share	$3.36	$2.86	$2.66	$2.48	$2.11	$2.63	$11.98	$11.18	$9.87	$8.70	$6.95
Total Capital	1,319	1,218	1,252	1,188	1,148	1,089	1,066	1,054	995	1,008	1,029
Total Debt	307	288	345	335	345	200	210	220	200	250	324
Total Long-Term Debt	302	284	340	260	280	135	160	190	160	220	289
Net Debt	-54	-76	-2.56	33	90	-99	-73	-51	-45	-87	20
Capital Expenditures (CapEx)	13	10	13	12	11	12	15	14	12	13	7.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	251	159	185	209	218	123	118	129	116	62	59
Debt-free Net Working Capital (DFNWC)	593	510	518	492	468	418	395	384	325	365	329
Net Working Capital (NWC)	588	505	514	417	403	353	345	354	285	335	294
Net Nonoperating Expense (NNE)	-1.35	0.53	0.71	1.35	-0.77	-1.28	1.65	0.13	0.04	4.51	-1.11
Net Nonoperating Obligations (NNO)	-54	-76	-8.38	33	90	-99	-73	-51	-45	-87	20
Total Depreciation and Amortization (D&A)	20	22	20	18	17	17	16	19	18	19	20
Debt-free, Cash-free Net Working Capital to Revenue	13.21%	8.67%	10.46%	12.24%	13.07%	7.57%	7.41%	8.40%	7.82%	4.41%	4.46%
Debt-free Net Working Capital to Revenue	31.14%	27.74%	29.27%	28.76%	28.10%	25.65%	24.85%	24.92%	21.93%	25.84%	24.66%
Net Working Capital to Revenue	30.88%	27.47%	29.00%	24.38%	24.20%	21.66%	21.71%	22.97%	19.23%	23.71%	22.03%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.41	$0.31	$0.33	$0.28	$0.30	$0.24	$0.26	$0.29	$0.31	$0.04	$0.24
Adjusted Weighted Average Basic Shares Outstanding	162.49M	162.72M	161.73M	162.79M	165.08M	166.34M	166.16M	166.78M	167.20M	833.26M	166.19M
Adjusted Diluted Earnings per Share	$0.40	$0.31	$0.33	$0.28	$0.29	$0.24	$0.26	$0.29	$0.30	$0.04	$0.23
Adjusted Weighted Average Diluted Shares Outstanding	164.56M	164.32M	163.19M	163.96M	166.73M	168.16M	167.69M	168.44M	169.66M	845.85M	168.89M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.31	$0.00	$0.00	$0.00	$0.24	$0.00	$0.00	$0.00	$0.04	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	162.69M	162.30M	160.88M	161.40M	162.44M	165.78M	164.92M	165.72M	166.23M	166.50M	165.32M
Normalized Net Operating Profit after Tax (NOPAT)	65	51	54	47	48	39	46	49	51	36	38
Normalized NOPAT Margin	13.02%	10.64%	11.39%	10.52%	11.00%	9.42%	11.08%	12.15%	12.82%	9.70%	10.51%
Pre Tax Income Margin	16.00%	14.66%	14.52%	13.32%	14.33%	13.54%	14.12%	15.94%	14.81%	11.90%	14.23%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	20.35	14.81	13.40	12.21	20.00	18.79	18.04	20.92	18.53	13.99	22.06
NOPAT to Interest Expense	15.74	10.02	9.73	8.85	14.58	12.38	13.37	15.18	15.18	10.59	15.55
EBIT Less CapEx to Interest Expense	17.25	12.84	11.09	9.95	16.60	15.11	13.66	16.71	15.01	10.30	19.19
NOPAT Less CapEx to Interest Expense	12.64	8.06	7.41	6.59	11.18	8.70	8.99	10.97	11.66	6.90	12.69
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	34.10%	104.86%	120.90%	124.12%	132.82%	71.44%	57.61%	48.49%	52.88%	50.81%	74.92%

Frequently Asked Questions About ExlService's Financials

When does ExlService's fiscal year end?

According to the most recent income statement we have on file, ExlService's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has ExlService's net income changed over the last 9 years?

ExlService's net income appears to be on an upward trend, with a most recent value of $198.30 million in 2024, rising from $51.57 million in 2015. The previous period was $184.56 million in 2023. View ExlService's forecast to see where analysts expect ExlService to go next.

What is ExlService's operating income?

ExlService's total operating income in 2024 was $263.62 million, based on the following breakdown:

Total Gross Profit: $691.01 million
Total Operating Expenses: $427.39 million

How has ExlService revenue changed over the last 9 years?

Over the last 9 years, ExlService's total revenue changed from $628.49 million in 2015 to $1.84 billion in 2024, a change of 192.5%.

How much debt does ExlService have?

ExlService's total liabilities were at $688.54 million at the end of 2024, a 24.6% increase from 2023, and a 272.2% increase since 2015.

How much cash does ExlService have?

In the past 9 years, ExlService's cash and equivalents has ranged from $86.80 million in 2017 to $218.53 million in 2020, and is currently $153.36 million as of their latest financial filing in 2024.

How has ExlService's book value per share changed over the last 9 years?

Over the last 9 years, ExlService's book value per share changed from 14.07 in 2015 to 5.78 in 2024, a change of -58.9%.

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This page (NASDAQ:EXLS) was last updated on 5/21/2025 by MarketBeat.com Staff

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ExlService (EXLS) Financials

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