Exlservice Holdings Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Exlservice Holdings Inc (EXLS) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Exlservice Holdings Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 2,342M vs 115,229M combined for its competitors (2.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+8.3% annualized vs trailing 12 months), vs holding steady (+1.3%) for its tracked peer group.
- Growth: Exlservice Holdings Inc generated 19.9% revenue growth year over year in Q3 2026, vs 6.3% for its competitors combined.
- Profitability: Its 10.9% net margin compares with 7.4% for the peer group.
- Scale: Exlservice Holdings Inc ranks #35 of 167 companies by market capitalization in the Professional Services industry, holding 0.2% of industry market cap.
- Peer revenue share: Exlservice Holdings Inc accounted for 2.1% of combined revenue among its tracked peer group, up from 1.9% a year earlier.
- Peer differentiation: Revenue per employee of $0.04M compares with $0.07M for the peer group (0.5x).
- Structure: Exlservice Holdings Inc operates in the following segments: Insurance, Banking, Capital Markets and Diversified Industries, Healthcare and Life Sciences.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
EXLS Sales vs. its Competitors, Q3 2026
Exlservice Holdings Inc reported revenue growth of 19.86 % year on year in Q3 2026, above its competitors' combined revenue growth of 6.33 %.
With a net margin of 10.85 %, Exlservice Holdings Inc achieved higher profitability than its competitors (7.43 %).
Exlservice Holdings Inc generated 2.13 % of the combined sales of its peer group, up from 1.89 % a year earlier.
API endpoints for this dataset
Exlservice Holdings Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Exlservice Holdings Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Exlservice Holdings Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Exlservice Holdings Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (1) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (8) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Exlservice Holdings Inc's competitor groups requires a Commercial License.
For context: the Professional Services industry grew revenue 7.1% year over year, combined, vs 19.9% for Exlservice Holdings Inc. Exlservice Holdings Inc's share of combined industry revenue moved from 0.10% to 0.11%, a gain of 0.01 percentage points.
Exlservice Holdings Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Exlservice Holdings Inc | Yes | Yes | Yes | No |
| Competitors combined (10) | ||||
| High-Confidence Competitors (2) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 12.50 % (1 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
EXLS Stock Performance relative to its Competitors
EXLS Stock Performance relative to High-Confidence Competitors
EXLS Stock Performance relative to Similar-Size Competitors
EXLS Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Nasdaq Inc | 282.9% | Outperformed |
| 2 | Genpact Limited | 282.9% | Outperformed |
| 3 | Accenture Plc | 282.9% | Outperformed |
| 4 | Cognizant Technology Solutions Corporation | 282.9% | Outperformed |
| 5 | Wipro Limited | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Exlservice Holdings Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Exlservice Holdings Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Exlservice Holdings Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Exlservice Holdings Inc |
6,583.40 | 2,342.44 |
 Accenture Plc |
157,676.42 | 74,183.45 |
 Nasdaq Inc |
60,342.14 | 9,186.00 |
 Infosys Limited |
51,501.35 | 20,158.00 |
 Cognizant Technology Solutions Corporation |
29,124.00 | 21,891.00 |
 Wipro Limited |
22,687.39 | 9,871.00 |
| SUBTOTAL | 338,946.07 | 155,346.00 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Exlservice Holdings Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Exlservice Holdings Inc's Competitors Named by the Company
Competitive relationships identified from Exlservice Holdings Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Innodata inc | Company report | 85% |
| Concentrix Corporation | Company report | 85% |
| Genpact Limited | Company report | 85% |
| Nasdaq Inc | Company report | 85% |
| Wipro Limited | Company report | 85% |
| Ttec Holdings Inc | Company report | 85% |
| Container Store Group Inc | Company report | 85% |
| Cognizant Technology Solutions Corporation | Company report | 85% |
| Accenture Plc | Company report | 85% |
| Infosys Limited | Company report | 85% |
| Performant Healthcare Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Exlservice Holdings Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Exlservice Holdings Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Exlservice Holdings Inc | Insurance 38.87 % |
| Accenture Plc | Americas 49.30 % |
| Nasdaq Inc | Market Services 51.02 % |
| Cognizant Technology Solutions Corporation | Financial services 31.20 % |
| Genpact Limited | High Tech and Manufacturing 39.09 % |
| Concentrix Corporation | Reportable 100.00 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Exlservice Holdings Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Exlservice Holdings Inc | 6,583 | 36,038 | 4,009 |
| Accenture Plc | 157,676 | 91,134 | 10,284 |
| Nasdaq Inc | 60,342 | 357,724 | 81,117 |
| Infosys Limited | 51,501 | 77,645 | 12,773 |
| Cognizant Technology Solutions Corporation | 29,124 | 62,261 | 7,318 |
| Wipro Limited | 22,687 | 315,993 | 45,265 |
| PEERS TOTAL | 332,363 | 71,760 | 7,408 |
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Exlservice Holdings Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Exlservice Holdings Inc | North America 82.23 % |
| Nasdaq Inc | United States 75.55 % |
| Cognizant Technology Solutions Corporation | North America 75.18 % |
| Innodata inc | US 87.93 % |
| Ttec Holdings Inc | United States Canada 61.00 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Exlservice Holdings Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 153 companies in Exlservice Holdings Inc's industry classification, broader than the peer set above. Market cap in millions of $.Exlservice Holdings Inc ranks #35 of 153 companies by market capitalization in its industry, holding 0.19 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,103, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Visa Inc | 809,797 | 23.70 % |
| 2 | Mastercard Incorporated | 576,334 | 16.87 % |
| 3 | Repay Holdings Corporation | 366,456 | 10.73 % |
| 4 | Alibaba Group Holding Limited | 254,010 | 7.43 % |
| 5 | Accenture Plc | 1,234 | 5.2% |
| 6 | Uber Technologies Inc | 1,234 | 5.2% |
| 7 | Pdd Holdings inc | 1,234 | 5.2% |
| 8 | Orix Corporation | 1,234 | 5.2% |
| 9 | Doordash Inc | 1,234 | 5.2% |
| 10 | Mercadolibre Inc | 1,234 | 5.2% |
| 35 | Exlservice Holdings Inc | 6,595 | 0.19 % |
Market cap and industry share for the rest of Exlservice Holdings Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Exlservice Holdings Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 30 | Costar Group Inc | 12,354 | -56.06 % |
| 31 | Etsy Inc | 10,788 | 51.56 % |
| 32 | Healthequity Inc | 8,706 | 8.25 % |
| 33 | Zillow Group Inc | 6,919 | -55.92 % |
| 34 | Lyft Inc | 1,234 | 12.3% |
| 35 | Exlservice Holdings Inc | 6,595 | 8.80 % |
| 36 | Wex Inc | 1,234 | 12.3% |
| 37 | Xometry Inc | 1,234 | 12.3% |
| 38 | Amentum Holdings Inc | 1,234 | 12.3% |
| 39 | Sezzle Inc | 1,234 | 12.3% |
| 40 | Remitly Global Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Exlservice Holdings Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Exlservice Holdings Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Professional Services industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (291 companies). See the full Professional Services industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 53.15 % | 33.12 % (avg) | +20.0 pp |
| Operating Margin | 14.77 % | industry median | +9.1 pp |
| EBITDA Margin | 20.13 % | 5.60 % (avg) | +14.5 pp |
| Capital Intensity (Capex / Revenue) | 2.35 % | 4.36 % (avg) | -2.0 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Exlservice Holdings Inc's Valuation vs Competitive Position
Valuation multiples vs the Professional Services industry average (291 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Professional Services industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 20.0x | 25.2x | -5.2x |
| EV / EBITDA | 11.5x | 14.0x | -2.4x |
| P/B | 5.8x | 3.5x | +2.4x |
| Return on Equity | 29.90 % | industry aggregate | -7.30 % |
| Return on Invested Capital | 14.60 % | 1.05 % (avg) | 13.55 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Exlservice Holdings Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 15.85 % | 12.26 % | -3.32 % | 17.10 % | 25.82 % | 15.42 % | 12.78 % | 13.55 % |
| Operating Margin | 5.64 % | 7.71 % | 11.48 % | 13.89 % | 13.61 % | 14.65 % | 14.34 % | 15.03 % |
| Return on Invested Capital | 3.59 % | 4.65 % | 6.43 % | 9.51 % | 10.94 % | 12.29 % | 12.30 % | 12.69 % |
| P/E | 34.3x | 36.2x | 161.7x | 199.1x | 207.6x | 25.8x | 35.6x | 26.7x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Exlservice Holdings Inc's Strategic Group Map
Exlservice Holdings Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Exlservice Holdings Inc's trailing-12-month revenue growth of 15.6% and operating margin of 14.8% compares with an average of 12.3% growth and 15.0% margin across its 8 closest peers by combined growth, margin and ROIC -- Exlservice Holdings Inc sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Exlservice Holdings Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Exlservice Holdings Inc falls in the Dog quadrant: relative market share of 0.01x vs its largest competitor, in an industry growing revenue 5.7% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Exlservice Holdings Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,103 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 2.35 % vs industry average 4.36 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Exlservice Holdings Inc's dedicated Suppliers and Customers pages, not here.
Exlservice Holdings Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Exlservice Holdings Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Exlservice Holdings Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 9.1 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+8.3% annualized vs trailing 12 months).
Weaknesses
- Return on equity 7.3 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.01x).
Opportunities
- Trades at a lower P/E than the industry average (20.0x vs 25.2x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Exlservice Holdings Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Exlservice Holdings Inc | 0.32 | 1.95 | 0.57 |
| Accenture Plc | 0.51 | 1.38 | 0.20 |
| Nasdaq Inc | 0.11 | 1.28 | 0.73 |
| Infosys Limited | 0.42 | 1.98 | 0.03 |
| Cognizant Technology Solutions Corporation | 0.42 | 2.19 | 0.07 |
| Wipro Limited | 0.26 | 2.05 | 0.00 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Exlservice Holdings Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Exlservice Holdings Inc | Q3 2026 | +19.9 % | +18.2 % |
| Accenture Plc | Q3 2026 | +6.2 % | +40.7 % |
| Nasdaq Inc | Q3 2026 | +22.2 % | +27.7 % |
| Infosys Limited | Q1 2026 | +4.6 % | +4.9 % |
| Cognizant Technology Solutions Corporation | Q3 2026 | +4.6 % | +128.8 % |
| Wipro Limited | Q1 2026 | -5.3 % | -8.6 % |
| PEERS TOTAL | +3.8 % | +0.3 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Exlservice Holdings Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Exlservice Holdings Inc | Q3 2026 | -85.7 % | +16.2 % |
| Accenture Plc | Q3 2026 | +5.9 % | +131.9 % |
| Nasdaq Inc | Q3 2026 | +37.3 % | -10.1 % |
| Infosys Limited | Q1 2026 | +4.4 % | - |
| Cognizant Technology Solutions Corporation | Q3 2026 | +4.7 % | +17.9 % |
| Wipro Limited | Q1 2026 | -3.4 % | -4.0 % |
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Exlservice Holdings Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Exlservice Holdings Inc | 14.48% | 17.39% | 29.90% |
| Accenture Plc | 12.18% | 18.35% | 25.70% |
| Nasdaq Inc | 7.37% | 7.72% | 17.26% |
| Infosys Limited | 20.16% | 30.31% | 33.70% |
| Cognizant Technology Solutions Corporation | 12.35% | 14.55% | 17.36% |
| Wipro Limited | 9.35% | 10.18% | 14.94% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Exlservice Holdings Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Exlservice Holdings Inc | 25.84 | 2.81 |
| Accenture Plc | 19.21 | 2.13 |
| Nasdaq Inc | 29.28 | 6.57 |
| Infosys Limited | 16.45 | 2.55 |
| Cognizant Technology Solutions Corporation | 11.83 | 1.33 |
| Wipro Limited | 8.64 | 2.30 |
| PEERS AVERAGE | 21.11 | 2.18 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.