EXLS ExlService Holdings margins

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Relative Growth: Rel. Growth: 89
Relative Strength: Rel. Strength: 88
Relative Valuation: Rel. Valuation: 47
Relative Profitability: Rel. Profitability: 74
Gross margin
38.5%
Operating margin
14.9%
EBITDA margin
19.2%
Net margin
11.2%

The ExlService Holdings reports a gross margin of 38.5%, an operating margin of 14.9%, an EBITDA margin of 19.2%, and a net margin of 11.2%. Among the available margins, gross margin improved the most and EBITDA margin declined the most, by 0.5 and 1.3 percentage points respectively.

EXLS margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, ExlService Holdings's margins averaged 37.83% gross, 14.66% operating, 19.64% EBITDA, and 11.3% net. For ExlService Holdings, gross and operating margins are above their three-year averages, while EBITDA and net margins are below their three-year averages.

EXLS margin expansion

Year-over-year margin changes in percentage points

The largest gain was in gross margin, up 0.5 percentage points. The expansion was limited to gross margin, while operating margin contracted by 0.3 percentage points, EBITDA margin by 1.3 percentage points, and net margin by 0.8 percentage points.

Gross margin expansion
0.5pp
Operating margin expansion
-0.3pp
EBITDA margin expansion
-1.3pp
Net margin expansion
-0.8pp

EXLS Gross margin

Looking back over the last 3 years, ExlService Holdings recorded an average gross margin of 37.83%. ExlService Holdings's current gross margin is 38.5% and is 0.7 percentage points above its three-year average. The highest gross margin for ExlService Holdings was 38.5% in Jun 2026, while the lowest was 37.2% in Jun 2024.

EXLS Operating margin

Looking back over the last 3 years, ExlService Holdings recorded an average operating margin of 14.66%. ExlService Holdings's current operating margin is 14.9% and is 0.2 percentage points above its three-year average. The highest operating margin for ExlService Holdings was 15.2% in Mar 2026, while the lowest was 13.9% in Jun 2024.

EXLS EBITDA margin

Over the last 3 years, the average EBITDA margin for ExlService Holdings was 19.64%. The current EBITDA margin of 19.2% is 0.4 percentage points below its three-year average. ExlService Holdings's EBITDA margin ranged from a low of 18.8% in Jun 2024 to a high of 20.5% in Jun 2025.

EXLS Net margin

Across the last 3 years, ExlService Holdings's net margin came to 11.3%. ExlService Holdings currently reports a net margin of 11.2%, 0.1 percentage points below its three-year average. Net margin was highest at 12% in Dec 2025 and lowest at 10.5% in Jun 2024.

EXLS margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 38.5%, EXLS ranks higher than the industry and its peers average but lower than the Technology sector average. In comparison with the Technology sector average of 52.2%, ExlService Holdings's gross margin is 26% lower.

EXLS margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is ExlService Holdings's gross margin?

For the period ending Jun 30, 2026, EXLS recorded a gross margin of 38.5%.

What is ExlService Holdings's operating margin?

The current operating margin for EXLS is 14.9% as of Jun 30, 2026.

What is ExlService Holdings's EBITDA margin?

As of Jun 30, 2026, EXLS has an EBITDA margin of 19.2%.

What is ExlService Holdings's net margin?

As of Jun 30, 2026, EXLS has a net margin of 11.2%.

What are the average margins of EXLS?

The three-year average margins for EXLS were 37.8% gross, 14.7% operating, 19.6% EBITDA, and 11.3% net.

What are the highest historical margins of EXLS?

In the last 5 years, the highest margins reported by EXLS were 38.5% gross in Jun 2026, 15.2% operating in Mar 2026, 20.5% EBITDA in Jun 2025, and 12% net in Dec 2025.

What are the lowest historical margins of EXLS?

Over this 5-year history, ExlService Holdings's margins fell as low as 36.5% gross in Dec 2022, 13.3% operating in Mar 2022, 18.8% EBITDA in Jun 2024, and 10% net in Mar 2022.