Company Valuation: ExlService Holdings, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,821 5,602 5,088 7,140 6,669 4,107 - -
Change - 16.2% -9.18% 40.33% -6.59% -38.42% - -
Enterprise Value (EV) 1 4,767 5,554 4,997 7,088 6,640 3,973 3,806 4,107
Change - 16.51% -10.04% 41.84% -6.32% -40.17% -4.2% 7.91%
P/E 43.2x 40.1x 28x 36.7x 27.6x 15.8x 13.7x 11.4x
PBR 6.95x 7.43x 5.73x 7.72x 7.56x 3.78x 2.96x -
PEG - 1.5x 0.9x 3.67x 1x 1.5x 0.9x 0.6x
Capitalization / Revenue 4.3x 3.97x 3.12x 3.88x 3.19x 1.76x 1.59x 1.37x
EV / Revenue 4.25x 3.93x 3.06x 3.86x 3.18x 1.71x 1.47x 1.37x
EV / EBITDA 19.5x 18.7x 14.3x 17.8x 14.7x 7.91x 6.78x 6.31x
EV / EBIT 30.6x 28.9x 20.9x 26.9x 21.2x 11.3x 9.57x 8.49x
EV / FCF 32.5x 45.8x 31.5x 31.9x 22.3x 15.2x 11.6x -
FCF Yield 3.07% 2.18% 3.17% 3.14% 4.49% 6.57% 8.59% -
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.67 0.846 1.1 1.21 1.54 1.701 1.962 2.35
Distribution rate - - - - - - - -
Net sales 1 1,122 1,412 1,631 1,838 2,088 2,329 2,586 3,005
EBITDA 1 244.9 297.5 349.1 397.7 452.3 502.3 561.4 651.3
EBIT 1 155.9 192.2 238.8 263.6 313.8 351.6 397.9 484
Net income 1 114.8 143 184.6 198.3 251 266.4 305.7 360.2
Net Debt 1 -53.86 -47.7 -90.83 -52.09 -29.77 -134 -301 -
Reference price 2 28.95 33.89 30.85 44.38 42.44 26.88 26.88 26.88
Nbr of stocks (in thousands) 166,515 165,323 164,923 160,882 157,149 152,783 - -
Announcement Date 2/24/22 2/23/23 2/29/24 2/25/25 2/24/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.8x1.71x7.91x-.--% 4.11B
41.58x7.44x26.85x0.86% 81.33B
38.54x4.51x14.73x1.19% 20.34B
30.36x1.26x12.67x1.07% 15.59B
18.94x2.04x10.09x3.7% 13.64B
25.13x2.83x12.13x2.98% 11.88B
25.29x3.48x13.42x2.31% 7.83B
15.22x0.66x9.5x1.38% 6.93B
44.08x1.99x15.52x0.47% 5.24B
18.09x0.39x8.85x4.08% 5.13B
Average 27.30x 2.63x 13.17x 1.8% 17.2B
Weighted average by Cap. 34.23x 4.82x 19.14x 1.44%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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