Is the business good?
How good a business is EXLS?
ExlService Holdings, Inc. earns 27% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
27%
Return on invested capital · cost of capital 9.0% · 18 points above what the capital costs: growth creates value
- Operating margin
- 15%
Operating margin · Information Technology Services median 7.9% · 12 months to Q1 2026
- Cash conversion
- 1.18×
Cash conversion · 1.14× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −4.7%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 11% |
| FY2021 | 14% |
| FY2022 | 14% |
| FY2023 | 15% |
| FY2024 | 14% |
| FY2025 | 15% |
Details›
- Gross margin12 months to Q1 2026
- 38%
- Operating margin12 months to Q1 2026
- 15%
- Net margin12 months to Q1 2026
- 12%
- Free cash flow margin
- 14%
- Revenue, trailing twelve months
- $2.16B
- Free cash flow, trailing twelve months
- $297M
- Net income, trailing twelve months
- $252M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 27%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Information Technology Services
Ranks #16 of 37 by Smart Score