ExlService Holdings Inc (EXLS)

Financial leverage 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
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
Total stockholders’ equity	US$ in thousands	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	670,001	647,683	641,353	630,576
Financial leverage ratio		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	1.77	1.77	1.77	1.88

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $1,441,970K ÷ $889,437K
= 1.62

The financial leverage ratio of ExlService Holdings Inc has exhibited a decreasing trend over the past four quarters, declining from 1.78 in Q4 2022 to 1.62 in Q4 2023. This indicates that the company's reliance on debt to finance its operations has reduced over time. A lower financial leverage ratio suggests that the company is less reliant on debt financing, which may reduce its financial risk and increase its financial stability. However, it is important to assess this ratio in conjunction with other financial metrics to gain a comprehensive understanding of the company's overall financial health and risk profile.