EXLS EXLS

Name: EXLS Crucible Score
Creator: Kaladin Capital Intelligence

UnknownUnknownN/A📅 Scored April 5, 2026

Price at analysis: $30.94

Crucible Score

73.3

B+

Quality × Value Composite

KQI — Quality

72.2

Fundamental Quality Index

KVI — Value

74.6

Valuation Attractiveness Index

Crucible Verdict — EXLS

EXLS delivers solid fundamentals with an 80/80 combination in Financial Quality and Growth Profile, plus a stellar 92% earnings beat rate under CEO Rohit Verma's performance-driven leadership. The stock trades at a 15% discount to fair value despite strong execution, though weak Diversification & Resilience scores (48) signal concentration risk. EXLS offers quality at a reasonable price for investors comfortable with business model concentration.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality

80.4

Growth Profile

79.5

Moat Durability⚠

71.1

Management Effectiveness

75.8

Diversification & Resilience

47.8

Market Position

48.0

Weakest dimension: Diversification & Resilience (47.8)

◆ KVI Value Dimensions

DCF Margin of Safety

66.1

FCF Yield & Cash Returns

74.8

Relative Valuation

78.1

Growth-Adjusted Value

72.4

Historical Valuation

94.5

Macro Context

83.9

◆ DCF Valuation Scenarios

Bear Case

$24.18

Base Case

$35.72

Bull Case

$52.41

Price at Analysis

$30.94

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$24.18	8.0%	13.5%	9.2%
🟢 Base	$35.72	11.0%	15.0%	8.6%
🟢 Bull	$52.41	14.0%	16.5%	8.1%

Key Assumptions: Revenue growth anchored to 5-year historical CAGR of ~17% but decelerating as EXLS scales; operating margins range from slight compression (bear at 13.5%) to modest expansion (bull at 16.5%) versus recent 15%. WACC derived from CAPM with 5.5% ERP for IT services sector, yielding 8.1-9.2% across scenarios. FCF conversion assumes capex intensity stabilizes near 2.5-3% of revenue consistent with recent trend, with D&A roughly matching capex at maturity.

◆ Financial Snapshot

Profitability

Gross Margin38.4%

Operating Margin15.0%

Net Margin12.0%

ROIC17.3%

ROE15.7%

Balance Sheet

Balance SheetCR: 2.56

Cash ConversionFCF/EPS: 1.19x

Capital IntensityCapex/Rev: 2.5%

Altman Z-Score7.24 (Safe)

Piotroski F-Score7/9 (Good)

Growth

Revenue CAGR16.8% CAGR

Earnings CAGR21.6% CAGR

Growth ConsistencyCV: 0.54

Segment Breadth2/2 growing (100%)

Quarterly TrendWC↓

Earnings CredibilityConsistent Beater

◆ Analyst Consensus & Leadership

Leadership & Governance

CEORohit Verma · 3 years

CEO Ownership4.0%

Compensation92% performance-based

Insider ActivitySelling

Capital AllocationROIC 17.3% vs WACC 3.4%

Earnings Beat Rate92% (19/22)

◆ Related Companies in Our Universe

Other Unknown companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+

Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted April 5, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.