ExlService Holdings annual debt-to-equity ratio
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2025
ExlService Holdings Debt-to-Equity Ratio Growth & History (EXLS)
ExlService Holdings's debt-to-equity ratio was 0.44 for fiscal 2025.
View full ExlService Holdings company overviewExlService Holdings annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.44 | 0.05 | +12.77% |
| 2024 | 2024-12-31 | 0.39 | 0.09 | +29.04% |
| 2023 | 2023-12-31 | 0.31 | −0.11 | −26.14% |
| 2022 | 2022-12-31 | 0.41 | −0.09 | −17.45% |
| 2021 | 2021-12-31 | 0.50 | 0.04 | +8.81% |
| 2020 | 2020-12-31 | 0.46 | −0.04 | −7.76% |
| 2019 | 2019-12-31 | 0.50 | 0.04 | +8.21% |
| 2018 | 2018-12-31 | 0.46 | 0.36 | +351.47% |
| 2017 | 2017-12-31 | 0.10 | −0.00 | −2.09% |
| 2016 | 2016-12-31 | 0.10 | −0.05 | −31.22% |
| 2015 | 2015-12-31 | 0.15 | 0.03 | +23.85% |
| 2014 | 2014-12-31 | 0.12 | 0.12 | +1702.02% |
| 2013 | 2013-12-31 | 0.01 | −0.01 | −46.32% |
| 2012 | 2012-12-31 | 0.01 | −0.01 | −40.94% |
| 2011 | 2011-12-31 | 0.02 | 0.02 | +759.85% |
| 2010 | 2010-12-31 | 0.00 | — | — |
ExlService Holdings quarterly debt-to-equity ratio
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Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.56 | 0.24 | +74.27% |
| Q1 2026 | 2026-03-31 | 0.67 | 0.29 | +74.33% |
| Q4 2025 | 2025-12-31 | 0.44 | 0.05 | +12.77% |
| Q3 2025 | 2025-09-30 | 0.46 | −0.01 | −2.24% |
| Q2 2025 | 2025-06-30 | 0.32 | −0.16 | −33.75% |
| Q1 2025 | 2025-03-31 | 0.38 | −0.14 | −26.55% |
| Q4 2024 | 2024-12-31 | 0.39 | 0.09 | +29.04% |
| Q3 2024 | 2024-09-30 | 0.47 | 0.15 | +46.95% |
| Q2 2024 | 2024-06-30 | 0.49 | 0.15 | +42.54% |
| Q1 2024 | 2024-03-31 | 0.52 | 0.19 | +59.49% |
| Q4 2023 | 2023-12-31 | 0.31 | −0.11 | −26.14% |
| Q3 2023 | 2023-09-30 | 0.32 | −0.17 | −34.15% |
| Q2 2023 | 2023-06-30 | 0.34 | −0.19 | −35.36% |
| Q1 2023 | 2023-03-31 | 0.33 | −0.22 | −39.80% |
| Q4 2022 | 2022-12-31 | 0.41 | −0.09 | −17.45% |
| Q3 2022 | 2022-09-30 | 0.48 | 0.08 | +19.50% |
| Q2 2022 | 2022-06-30 | 0.53 | 0.19 | +54.59% |
| Q1 2022 | 2022-03-31 | 0.54 | 0.09 | +20.19% |
| Q4 2021 | 2021-12-31 | 0.50 | 0.04 | +8.81% |
| Q3 2021 | 2021-09-30 | 0.41 | −0.07 | −14.27% |
| Q2 2021 | 2021-06-30 | 0.34 | −0.17 | −32.56% |
| Q1 2021 | 2021-03-31 | 0.45 | −0.23 | −33.77% |
| Q4 2020 | 2020-12-31 | 0.46 | −0.04 | −7.76% |
| Q3 2020 | 2020-09-30 | 0.47 | −0.06 | −11.24% |
| Q2 2020 | 2020-06-30 | 0.51 | −0.05 | −8.74% |
| Q1 2020 | 2020-03-31 | 0.68 | 0.02 | +2.37% |
| Q4 2019 | 2019-12-31 | 0.50 | 0.04 | +8.21% |
| Q3 2019 | 2019-09-30 | 0.53 | 0.01 | +1.60% |
| Q2 2019 | 2019-06-30 | 0.56 | 0.44 | +378.13% |
| Q1 2019 | 2019-03-31 | 0.67 | 0.55 | +488.50% |
| Q4 2018 | 2018-12-31 | 0.46 | 0.36 | +351.47% |
| Q3 2018 | 2018-09-30 | 0.52 | 0.45 | +587.34% |
| Q2 2018 | 2018-06-30 | 0.12 | 0.04 | +48.30% |
| Q1 2018 | 2018-03-31 | 0.11 | 0.03 | +40.18% |
| Q4 2017 | 2017-12-31 | 0.10 | −0.00 | −2.09% |
| Q3 2017 | 2017-09-30 | 0.08 | −0.01 | −13.04% |
| Q2 2017 | 2017-06-30 | 0.08 | −0.01 | −14.22% |
| Q1 2017 | 2017-03-31 | 0.08 | −0.05 | −40.33% |
| Q4 2016 | 2016-12-31 | 0.10 | −0.05 | −31.22% |
| Q3 2016 | 2016-09-30 | 0.09 | −0.07 | −44.54% |
| Q2 2016 | 2016-06-30 | 0.09 | −0.07 | −42.69% |
| Q1 2016 | 2016-03-31 | 0.14 | −0.05 | −27.02% |
| Q4 2015 | 2015-12-31 | 0.15 | 0.03 | +23.85% |
| Q3 2015 | 2015-09-30 | 0.16 | 0.15 | +3357.62% |
| Q2 2015 | 2015-06-30 | 0.16 | 0.15 | +3112.14% |
| Q1 2015 | 2015-03-31 | 0.19 | 0.18 | +3046.55% |
| Q4 2014 | 2014-12-31 | 0.12 | 0.12 | +1702.02% |
| Q3 2014 | 2014-09-30 | 0.00 | −0.00 | −38.15% |
| Q2 2014 | 2014-06-30 | 0.00 | −0.00 | −48.99% |
| Q1 2014 | 2014-03-31 | 0.01 | −0.01 | −46.55% |
| Q4 2013 | 2013-12-31 | 0.01 | −0.01 | −46.32% |
| Q3 2013 | 2013-09-30 | 0.01 | −0.01 | −49.35% |
| Q2 2013 | 2013-06-30 | 0.01 | −0.01 | −40.86% |
| Q1 2013 | 2013-03-31 | 0.01 | −0.01 | −42.41% |
| Q4 2012 | 2012-12-31 | 0.01 | −0.01 | −40.94% |
| Q3 2012 | 2012-09-30 | 0.01 | −0.01 | −38.67% |
| Q2 2012 | 2012-06-30 | 0.02 | −0.12 | −88.16% |
| Q1 2012 | 2012-03-31 | 0.02 | — | — |
| Q4 2011 | 2011-12-31 | 0.02 | 0.02 | +759.85% |
| Q3 2011 | 2011-09-30 | 0.02 | — | — |
| Q2 2011 | 2011-06-30 | 0.14 | — | — |
| Q4 2010 | 2010-12-31 | 0.00 | — | — |
ExlService Holdings debt-to-equity ratio trends
Over the last five fiscal years, ExlService Holdings's debt-to-equity ratio decreased from 0.46 to 0.44, a change of −0.02. The latest reported quarter, Q2 2026, shows 0.56.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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