ExlService Holdings Inc (EXLS)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	135,000	160,000	190,000	160,000	220,000	235,000	250,000	260,000	0	170,000	139,432	202,687	201,961	216,235	215,527	234,820	194,131	223,916	231,409	299,765
Total assets	US$ in thousands	1,441,970	1,402,490	1,362,700	1,308,570	1,346,120	1,318,730	1,290,930	1,274,550	1,282,900	1,168,070	1,169,350	1,226,370	1,247,860	1,219,480	1,193,610	1,267,260	1,183,090	1,145,980	1,137,470	1,182,580
Debt-to-assets ratio		0.09	0.11	0.14	0.12	0.16	0.18	0.19	0.20	0.00	0.15	0.12	0.17	0.16	0.18	0.18	0.19	0.16	0.20	0.20	0.25

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $135,000K ÷ $1,441,970K
= 0.09

ExlService Holdings Inc's debt-to-assets ratio has shown a decreasing trend over the past eight quarters, indicating a positive sign of financial health. The ratio has declined from 0.23 in Q1 2022 to 0.14 in Q4 2023. This suggests that the company has been successful in reducing its reliance on debt financing relative to its total assets. A lower debt-to-assets ratio typically signifies lower financial risk and better solvency for a company. It appears that ExlService Holdings Inc has been effectively managing its debt levels, which could potentially enhance its creditworthiness and overall financial stability in the long run.