ExlService Holdings, Inc. (EXLS)

ExlService Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	251.54	251.02	198.3	184.56	142.97	114.76
Depreciation & Amortization	59.7	59.25	55.22	50.28	56.1	49.66
Stock-Based Compensation	82.38	79.47	72.66	58.44	49.37	38.62
Other Adjustments	-8.67	-2.26	-5.45	9.43	-6.18	21.66
Change in Receivables	-47.82	-35.99	4.65	-49.24	-68.12	-37.68
Changes in Accounts Payable	-	-	-	-	-	-0.61
Changes in Accrued Expenses	27.64	35.76	42.22	21.42	22.41	49.41
Changes in Income Taxes Payable	6.99	-1.61	-26.2	-18.28	8.78	-12.06
Changes in Unearned Revenue	2.73	-4.13	7	-0.88	2.47	-12.73
Changes in Other Operating Activities	-25.29	-30.8	-79.86	-44.52	-41.66	-26.63
Operating Cash Flow	349.19	350.72	268.53	211.2	166.14	184.39
Operating Cash Flow Growth	18.92%	30.61%	27.14%	27.12%	-9.89%	-9.16%
Capital Expenditures	-52.59	-52.6	-46.26	-52.8	-44.84	-37.25
Sale of Property, Plant & Equipment	0.38	0.35	0.22	0.74	0.27	1.3
Purchases of Investments	-268.27	-313.51	-289.01	-235.37	-212.61	-96.01
Proceeds from Sale of Investments	338.09	317.67	240.86	276.04	164.5	94.52
Payments for Business Acquisitions	-	-	-24.3	-	-3.87	-76.83
Other Investing Activities	-0.57	-1.17	-0.6	-0.6	-	-
Investing Cash Flow	17.03	-49.26	-119.1	-12	-96.55	-114.27
Long-Term Debt Issued	360	235	290	80	35	300
Long-Term Debt Repaid	-250	-225	-201.25	-130	-45	-329.03
Net Long-Term Debt Issued (Repaid)	110	10	88.75	-50	-10	-29.03
Issuance of Common Stock	6.26	6.24	5.02	5.57	1.06	0.71
Repurchase of Common Stock	-476.48	-328.49	-207.93	-131.85	-72.64	-118.36
Net Common Stock Issued (Repurchased)	-470.23	-322.25	-202.9	-126.28	-71.58	-117.65
Other Financing Activities	-0.55	-0.51	-4.95	-5.17	-0.14	-0.2
Financing Cash Flow	-360.77	-312.76	-119.1	-181.45	-81.72	-146.88
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0.85	5.88	-4.33	2.03	-6.06	-4.95
Net Cash Flow	6.3	-5.43	26	19.78	-18.19	-81.71
Free Cash Flow	296.6	298.12	222.26	158.4	121.31	147.14
Free Cash Flow Growth	-0.51%	34.13%	40.32%	30.58%	-17.56%	-8.47%
FCF Margin	13.75%	14.28%	12.09%	9.71%	8.59%	13.11%
Free Cash Flow Per Share	1.85	1.83	1.35	0.94	0.72	0.86
Levered Free Cash Flow	380.71	266.9	239.16	89.77	136.24	95.51
Unlevered Free Cash Flow	271.58	256.16	152.25	140.25	147.35	131.79

Updated Apr 28, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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