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ExlService HoldingsEXLS +2.60%86 Debt-to-Equity is 0.56 as of Jun. 2026, which is 24% above its 10-year median of 0.45. GuruFocus rates EXLS with a GF Score™ of 86/100 and a GF Value™ of $48.11 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,246 Software companies, ExlService Holdings ranks worse than 72.97% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for ExlService Holdings's Debt-to-Equity or its related term are showing as below:
EXLS'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.08 Med: 0.45 Max: 0.68
Current: 0.56
During the past 13 years, the highest Debt-to-Equity Ratio of ExlService Holdings was 0.68. The lowest was 0.08. And the median was 0.45.
EXLS's Debt-to-Equity is ranked worse than 72.97% of 2246
companies
in the Software industry
Industry Median: 0.19
vs EXLS: 0.56
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
ExlService Holdings Debt-to-Equity Related Terms
ExlService Holdings Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for ExlService Holdings's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
EXLS vs EPAM, CSQR, SAIC: Debt-to-Equity Comparison
For the Information Technology Services subindustry, ExlService Holdings's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
ExlService Holdings Debt-to-Equity vs Software Industry
For the Software industry and Technology sector, ExlService Holdings's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where ExlService Holdings's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ExlService Holdings (EXLS) has a Debt-to-Equity of 0.56 as of Jun. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on ExlService Holdings and its competitors. This is 24% above median its historical median of 0.45. Over the past decade, ExlService Holdings' Debt-to-Equity has ranged from 0.08 to 0.68. According to the industry distribution chart, ExlService Holdings ranks #1639 out of 2246 companies in the Software industry, placing it in the top 73%.
Is ExlService Holdings' Debt-to-Equity too high?
ExlService Holdings' current Debt-to-Equity of 0.56 is 24% above median its 10-year median of 0.45. Over the past 10 years, this metric has ranged from a low of 0.08 to a high of 0.68. The Software industry median Debt-to-Equity is 0.19. ExlService Holdings' value of 0.56 is 194.7% above this industry median. Based on the distribution chart, ExlService Holdings ranks #1639 out of 2246 companies in the Software industry, which is below the industry midpoint. Overall, ExlService Holdings has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ExlService Holdings' Debt-to-Equity compare to EPAM and CSQR?
According to the Software industry distribution chart, ExlService Holdings ranks #1639 out of 2246 companies for Debt-to-Equity. This places ExlService Holdings in the lower half of its industry. The industry median Debt-to-Equity is 0.19. ExlService Holdings' value of 0.56 is 194.7% above this benchmark. Historically, ExlService Holdings' own Debt-to-Equity has ranged from 0.08 to 0.68 over the past decade. While the company's 10-year median is 0.45 vs. the industry median of 0.19, ExlService Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Software company?
The median Debt-to-Equity among Software companies is 0.19, based on 2,246 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ExlService Holdings's current Debt-to-Equity of 0.56 is 194.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on ExlService Holdings and its competitors. For the Software industry, the median Debt-to-Equity is 0.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ExlService Holdings's current Debt-to-Equity is 0.56, which is 24% above median its own 10-year median of 0.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ExlService Holdings stock overvalued right now?
Based on GuruFocus' analysis, ExlService Holdings (EXLS) is currently considered Modestly Undervalued. The stock's GF Value™ is $48.11, compared to a current price of $35.47 — trading 26.3% below its estimated fair value. The current Debt-to-Equity is 0.56, which is 24% above median its 10-year median of 0.45 and 194.7% above the Software industry median of 0.19. ExlService Holdings' overall GF Score™ is 86/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For ExlService Holdings (EXLS), the current Debt-to-Equity is 0.56 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is ExlService Holdings (EXLS) Overvalued in 2026?
Based on GuruFocus' analysis, ExlService Holdings stock appears to be undervalued.
The current stock price of $35.47 is trading 26.3% below its estimated GF Value™ of $48.11.
GuruFocus considers ExlService Holdings to be Modestly Undervalued.
Key valuation signals for EXLS:
Debt-to-Equity: 0.56 (24% above median its 10-year median of 0.45)
GF Value™: $48.11 vs. price of $35.47 (26.3% below fair value)
Industry Position: 194.7% above the Software median (#1639 of 2246)
No single metric tells the full story. See the EXLS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ExlService Holdings Inc. is a data analytics and digital operations company that provides data and AI-led solutions and technology-enabled services to clients across industries. The company has four reportable segments. The Insurance segment provides services such as claims management, underwriting support, and analytics solutions. The Healthcare and Life Sciences segment offers data-driven solutions and services to healthcare payers, providers, and life sciences organizations. The Banking, Capital Markets and Diversified Industries segment delivers solutions across financial services and other industries. The International Growth Markets segment focuses on providing data, AI, and digital operations services to clients outside North America.
86GF Score
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