ExlService Holdings, Inc.

EXLSNASDAQTechnology● Active

$29.67

+$0.29(+0.99%)

Market Cap$4.5B

P/E Ratio—

52W High$48.54

52W Low$26.82

Avg Volume2.3M

Open$29.82

Beta0.82

Free Cash Flow Financials Revenue

ExlService Holdings, Inc. (EXLS) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

EXLS · free cash flow · updated Jun 8, 2026

Core FCF metrics

EXLS · FCF · TTM · margin & CAGR

Free cash flow was $298.1M for FY2025 (fiscal year ending 2025-12-31), up 34.1% year-over-year The FCF margin was 14.3%. Five-year CAGR stands at +13.2%.

FY2025 Free Cash Flow$298.1M▲ +34.1% YoY

Trailing 12M (TTM)$296.6Mtrailing 4 quarters sum

FCF Margin14.3%$298.1M ÷ revenue

3-Year CAGR+35.0%FY2022 → FY2025

5-Year CAGR+13.2%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

EXLS · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$350.7M(53M)$298.1M▲ +34.1%14.3%

FY2024$268.5M(46M)$222.3M▲ +40.3%12.1%

FY2023$211.2M(53M)$158.4M▲ +30.6%9.7%

FY2022$166.1M(45M)$121.3M▼ 17.6%8.6%

FY2021$184.4M(37M)$147.1M▼ 8.5%13.1%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

EXLS · P/FCF · FCF yield · FCF per share

ExlService Holdings, Inc. (EXLS) trades at a FCF yield of 6.54% and a price-to-free-cash-flow ratio of 16.1x. FCF per share stands at $1.84, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

6.54%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.84

TTM FCF ÷ Shares Outstanding

Price / FCF

x16.1

Share Price ÷ FCF per Share

EV / FCF (TTM)

x15.2

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

EXLS · cash flow statement · operating / investing / financing

For FY2025, ExlService Holdings, Inc. generated $350.7M in operating cash flow and spent 53M in capital expenditures, yielding $298.1M in free cash flow.

Operating Activities

+$350.7M

Cash from core business operations

2025-12-31

Investing Activities

−$49.3M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$312.8M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($350.7M) − |CapEx| (53M) = FCF ($298.1M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Technology)

EXLS vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

ExlService Holdings, Inc.YOU

EXLS

$298.1M+34.1%14.3%

Taiwan Semiconductor Manufacturing Company Limited

Microsoft Corporation

Technology · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

ExlService Holdings, Inc. (EXLS) reported free cash flow of $298.1M for FY2025 (fiscal year ending 2025-12-31), up 34.1% year-over-year. The FCF margin was 14.3%.

Based on available data, ExlService Holdings, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $298.1M in FY2025. The 5-year CAGR stands at +13.2%.

ExlService Holdings, Inc.'s FCF yield is 6.54% and price-to-FCF ratio is 16.1x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

EXLS free cash flow · 8 questions

ExlService Holdings, Inc. free cash flow was $298.1M for FY2025, up 34.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $296.6M.

EXLS free cash flowEXLS FCFEXLS FCF 2025EXLS free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · ExlService Holdings, Inc. · ExlService Holdings, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026