ExlService Holdings Inc (EXLS)

Financial leverage ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Total assets	US$ in thousands	1,618,400	1,609,830	1,503,770	1,439,390	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
Total stockholders’ equity	US$ in thousands	929,862	907,563	852,606	803,255	889,437	856,087	834,214	795,222	758,179	704,584	685,653	700,341	693,156	684,985	728,014	726,225	719,172	709,928	680,928	655,904
Financial leverage ratio		1.74	1.77	1.76	1.79	1.62	1.64	1.63	1.65	1.78	1.87	1.88	1.82	1.85	1.71	1.61	1.69	1.74	1.72	1.75	1.93

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $1,618,400K ÷ $929,862K
= 1.74

ExlService Holdings Inc's financial leverage ratio has shown some fluctuations over the past few years. The ratio decreased from 1.93 as of March 31, 2020, to a low of 1.61 by June 30, 2021, indicating a reduction in the company's reliance on debt financing during this period.

Subsequently, there was an uptrend in the financial leverage ratio, reaching a peak of 1.88 by June 30, 2022. This suggests that the company may have taken on more debt to fuel growth or finance operations during this period.

From June 30, 2022, to December 31, 2024, the financial leverage ratio displayed a more stable range, fluctuating between 1.74 and 1.79.

Overall, although there have been fluctuations, ExlService Holdings Inc's financial leverage ratio has generally remained within a reasonable range, indicating a balanced mix of debt and equity in its capital structure.