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ExlService HoldingsEXLS +2.60%86 Intrinsic Value: Projected FCF is $23.14 as of Aug. 18, 2026, which is 1261% above its 10-year median of 1.70. GuruFocus rates EXLS with a GF Scoreâ„¢ of 86/100 and a GF Valueâ„¢ of $48.11 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,459 Software companies, ExlService Holdings ranks worse than 51.88% on this metric.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
As of today (2026-08-18), ExlService Holdings's Intrinsic Value: Projected FCF is $23.14. The stock price of ExlService Holdings is $35.47. Therefore, ExlService Holdings's Price-to-Intrinsic-Value-Projected-FCF of today is 1.5.
The historical rank and industry rank for ExlService Holdings's Intrinsic Value: Projected FCF or its related term are showing as below:
EXLS'
s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 1.12 Med: 1.7 Max: 2.58
Current: 1.53
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of ExlService Holdings was 2.58. The lowest was 1.12. And the median was 1.70.
EXLS's Price-to-Projected-FCF is ranked worse than 51.88% of 1459
companies
in the Software industry
Industry Median: 1.43
vs EXLS: 1.53
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
ExlService Holdings's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
35.47
/
23.144453992275
=
1.53
* 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 Intrinsic Value: Projected FCF Related Terms
ExlService Holdings Intrinsic Value: Projected FCF Historical Data
* Premium members only.
The historical data trend for ExlService Holdings's Intrinsic Value: Projected FCF 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: Intrinsic Value: Projected FCF Comparison
For the Information Technology Services subindustry, ExlService Holdings's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF 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 Price-to-Projected-FCF vs Software Industry
For the Software industry and Technology sector, ExlService Holdings's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where ExlService Holdings's Price-to-Projected-FCF falls into.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
* 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.
What does a Intrinsic Value: Projected FCF of $23.14 mean?
ExlService Holdings (EXLS) has a Intrinsic Value: Projected FCF of $23.14 as of Aug. 18, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on ExlService Holdings and its competitors. This is 1261% above median its historical median of 1.70. Over the past decade, ExlService Holdings' Intrinsic Value: Projected FCF has ranged from 1.12 to 2.58. According to the industry distribution chart, ExlService Holdings ranks #757 out of 1459 companies in the Software industry, placing it in the top 51.9%.
Is ExlService Holdings' Intrinsic Value: Projected FCF too high?
ExlService Holdings' current Intrinsic Value: Projected FCF of $23.14 is 1261% above median its 10-year median of 1.70. Over the past 10 years, this metric has ranged from a low of 1.12 to a high of 2.58. The Software industry median Intrinsic Value: Projected FCF is 1.43. ExlService Holdings' value of $23.14 is 1518.2% above this industry median. Based on the distribution chart, ExlService Holdings ranks #757 out of 1459 companies in the Software industry, which is below the industry midpoint. Overall, ExlService Holdings has a GF Scoreâ„¢ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ExlService Holdings' Intrinsic Value: Projected FCF compare to EPAM and CSQR?
According to the Software industry distribution chart, ExlService Holdings ranks #757 out of 1459 companies for Intrinsic Value: Projected FCF. This places ExlService Holdings in the lower half of its industry. The industry median Intrinsic Value: Projected FCF is 1.43. ExlService Holdings' value of $23.14 is 1518.2% above this benchmark. Historically, ExlService Holdings' own Intrinsic Value: Projected FCF has ranged from 1.12 to 2.58 over the past decade. While the company's 10-year median is 1.70 vs. the industry median of 1.43, 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 Intrinsic Value: Projected FCF for a Software company?
The median Intrinsic Value: Projected FCF among Software companies is 1.43, based on 1,459 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ExlService Holdings's current Intrinsic Value: Projected FCF of $23.14 is 1518.2% 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 Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on ExlService Holdings and its competitors. For the Software industry, the median Intrinsic Value: Projected FCF is 1.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ExlService Holdings's current Intrinsic Value: Projected FCF is $23.14, which is 1261% above median its own 10-year median of 1.70. 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 Intrinsic Value: Projected FCF is $23.14, which is 1261% above median its 10-year median of 1.70 and 1518.2% above the Software industry median of 1.43. 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 Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For ExlService Holdings (EXLS), the current Intrinsic Value: Projected FCF is $23.14 as of Aug. 18, 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:
Intrinsic Value: Projected FCF: $23.14 (1261% above median its 10-year median of 1.70)
GF Value™: $48.11 vs. price of $35.47 (26.3% below fair value)
Industry Position: 1518.2% above the Software median (#757 of 1459)
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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Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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