ExlService (EXLS) Financials

$45.47 +0.53 (+1.18%)

As of 04:00 PM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	52	62	49	57	68	89	115	143	185	198
Consolidated Net Income / (Loss)	52	62	49	57	68	89	115	143	185	198
Net Income / (Loss) Continuing Operations	52	62	49	57	68	89	115	143	185	198
Total Pre-Tax Income	76	84	85	60	83	115	147	190	238	261
Total Operating Income	67	64	73	50	76	110	156	192	239	264
Total Gross Profit	226	238	267	298	336	334	431	515	608	691
Total Revenue	628	686	762	883	991	958	1,122	1,412	1,631	1,838
Operating Revenue	628	686	762	883	991	958	1,122	1,412	1,631	1,838
Total Cost of Revenue	403	448	495	585	655	624	691	897	1,023	1,147
Operating Cost of Revenue	403	448	495	585	655	624	691	897	1,023	1,147
Total Operating Expenses	158	174	194	248	259	224	275	323	369	427
Selling, General & Admin Expense	77	89	103	116	127	114	142	169	198	226
Marketing Expense	49	51	53	64	72	60	84	98	120	147
Depreciation Expense	31	35	39	49	52	50	49	56	50	55
Total Other Income / (Expense), net	8.43	19	12	11	6.65	5.31	-9.32	-2.06	-0.81	-2.27
Interest Expense	1.34	1.34	1.89	7.23	14	11	20	8.25	13	19
Other Income / (Expense), net	9.77	21	14	18	20	16	11	6.19	12	17
Income Tax Expense	24	22	36	3.40	15	26	32	48	54	63
Other Gains / (Losses), net	-	-	0.00	-0.25	-0.27	-0.23	0.05	0.43	0.15	-0.11
Basic Earnings per Share	$1.55	$1.84	$1.44	$1.65	$1.97	$2.61	$0.68	$0.86	$1.11	$1.22
Weighted Average Basic Shares Outstanding	33.30M	33.57M	33.90M	34.45M	34.35M	34.27M	167.75M	166.65M	166.34M	162.72M
Diluted Earnings per Share	$1.51	$1.79	$1.39	$1.62	$1.95	$2.59	$0.67	$0.85	$1.10	$1.21
Weighted Average Diluted Shares Outstanding	34.18M	34.56M	35.11M	35.03M	34.73M	34.56M	171.22M	169.17M	168.16M	164.32M
Weighted Average Basic & Diluted Shares Outstanding	33.30M	33.60M	34M	34.40M	34.36M	33.47M	33.21M	33.30M	165.78M	162.30M

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

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

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

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

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

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

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

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

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

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

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.

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 4/14/2025 by MarketBeat.com Staff

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ExlService (EXLS) Financials

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