ExlService Holdings EXLS
United StatesTechnology · Information Technology ServicesUSD
44.62 USD (+25.7%)
8 analysts
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ExlService Holdings (EXLS) is a technology and operations services company that helps clients in sectors such as banking, insurance, and healthcare to digitize processes and improve efficiency through data analytics, automation, and business process outsourcing.
Key points
from its scores- ✓High-quality business7.6
- ✓Attractive valuation7.3
- ✓Favourable backdrop7.2
- ✕Little or no dividend1.5
- ✕Poor share-price trend4.1
AI analysis
bottom line, main risk, context and newsHold or buy on dips, given the solid growth and quality profile, although negative momentum suggests waiting for a better entry point.
ExlService shows solid financial health (net debt/EBITDA of 0.54) and outstanding quality (ROE of 25.94%, ROIC of 23.99%), with revenue growth of 15.60% supporting its valuation (forward P/E of 13.67, PEG of 0.92). Negative momentum (-14.52%) suggests short-term caution, but fundamentals are attractive.
The main risk is concentration in IT services for financial and healthcare sectors, which could cut discretionary spending in an economic slowdown, affecting revenue growth.
Context and risks
No recent relevant news and no material exposure to current macro factors: the company is an IT services firm with a healthy balance sheet (net debt/EBITDA of 0.54) and does not depend on commodities or shipping routes. The rise in US interest rates does not significantly affect its valuation or financial health.
Is ExlService Holdings stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 28% below the Technology median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 22.5 | 31.3 | −28% |
| EV / EBITDA | 14.7 | 20.4 | −28% |
| Price / book | 6.2 | 6.3 | −1% |
| Price / sales | 2.4 | 5.3 | −54% |
Sector: median of the 283 Technology companies analysed. In bold, the multiples used for the comparison.
Valuation score: 7.3 out of 10 (median for Technology: 5.3).
Average analyst target: 44.62 USD, +25.7% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 6.6 (sector 6.9), Growth 6.6 (sector 7.5).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Technology medianValuation
- P/E
- 22.5
- Forward P/E
- 13.7
- EV / EBITDA
- 14.7
- Price / book
- 6.2
- Price / sales
- 2.4
- PEG
- 0.92
- Market cap
- 5.4B USD
- Enterprise value
- 5.6B USD
Profitability
- ROE
- 25.9%
- ROA
- 12.0%
- ROIC (approx.)
- 24.0%
- Gross margin
- 38.5%
- Operating margin
- 14.6%
- Net margin
- 11.2%
- Free cash flow
- 262.3M USD
- FCF yield
- 4.8%
- Cash conversion
- 69%
Solvency
- Total debt
- 490.2M USD
- Net debt
- 206.3M USD
- Cash
- 283.8M USD
- EBITDA
- 379.1M USD
- Net debt / EBITDA
- 0.54
- Debt / equity
- 56.59
- Current ratio
- 1.24
- Quick ratio
- 1.11
Growth
- Revenue growth
- +15.6%
- Earnings growth
- +5.0%
- EPS (TTM)
- 1.58 USD
- EPS (forward)
- 2.60 USD
Dividend
- Dividend yield
- 0.0%
- Payout
- 0.0%
Risk and market
- Beta
- 0.84
- Analyst consensus
- Strong buy (8)
- Target price
- 44.62 USD
- 52-week range
- 24.85 – 43.88
Recent news
All EXLS news →Compare it with its sector
All 283 in Technology →Frequently asked questions about ExlService Holdings
Is ExlService Holdings stock cheap or expensive?
On P/E and EV / EBITDA, it trades 28% below the Technology median on average. Valuation score: 7.3 out of 10 (median for Technology: 5.3). Average analyst target: 44.62 USD, +25.7% versus the price. This is not investment advice.
What score does ExlService Holdings get on MeridIAn Screener?
It scores 6.7 out of 10, rank 379 of 2,130 (better than 80% of the companies analysed). Its strongest category is Quality / Moat (7.6) and its weakest, Dividend (1.5). Analysis of 08/10/2026.
What is ExlService Holdings's P/E ratio?
Its P/E is 22.5: the share price equals 22.5 times earnings per share over the last 12 months. The Technology median is 31.3. Based on the earnings analysts expect, the forward P/E is 13.7.
How much is ExlService Holdings worth on the stock market?
Its market capitalisation is 5.4B USD and its enterprise value, debt included, is 5.6B USD.
How much debt does ExlService Holdings have?
Its net debt (debt minus cash) is 206.3M USD. That is 0.54 times its EBITDA; the Technology median is 0.20.
Does ExlService Holdings pay a dividend?
It pays no dividend, or almost none.
How has ExlService Holdings stock performed over the last year?
It has fallen 13.9% over the last year, excluding dividends. Over the last 52 weeks it has traded between 24.85 and 43.88 USD. Past performance does not guarantee future results.
What do analysts think of ExlService Holdings?
8 analysts cover it; their average recommendation is “Strong buy” and their average target is 44.62 USD (+25.7% versus the price). It is an estimate, not market data.