EXLS
ExlService Holdings, Inc.
EXLS's outlook is improving, though it still trails on the overall score.
MU
Micron Technology, Inc.
MU has the edge over EXLS overall, supported by stronger modeled upside and stronger fundamentals.
EXLS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Healthy |
EXLS's revenue, profitability, cash flow and balance sheet are all currently healthy.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
EXLS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 17x | $43.10 | — |
| Current | 26x | $43.10 | — |
| Cheap | 27x | $45.36 | +5.2% |
| Fair | 34x | $56.95 | +32% |
| Expensive | 41x | $68.45 | +59% |
Historical ranges are pointers, not guarantees.
EXLS has the edge over MU in the historical PE scenario, which offers more potential upside but is not a forecast.
MU PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 4.6x | $798 | — |
| Cheap | 10x | $777 | -2.7% |
| Current | 11x | $798 | — |
| Fair | 22x | $1,646 | +106% |
| Expensive | 32x | $2,404 | +201% |
Historical ranges are pointers, not guarantees.
MU's PE is in its cheap range at 11x. If earnings grow as analysts expect, today's price would be 4.6x next year's earnings.
EXLS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for EXLS, with profitability holding steady.
MU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Moderate |
MU has the edge over EXLS on the outlook, with more favorable profitability expectations.
EXLS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.54 | +51% |
| Q3 2026 | $1.68 | +14% |
| Q2 2026 | $1.59 | +10% |
| Q1 2026 | $1.57 | +19% |
| Q4 2025 | $1.54 | +27% |
| Q3 2025 | $1.47 | +28% |
| Q2 2025 | $1.44 | +33% |
| Q1 2025 | $1.32 | +21% |
| Q4 2024 | $1.21 | +10% |
EXLS's earnings per share have climbed steadily: $1.68 over the past year, up 14% from the year before, and higher year over year every quarter since late 2020.
MU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $174.95 | +135% |
| Q3 2026 | $74.33 | +879% |
| Q2 2026 | $44.17 | +693% |
| Q1 2026 | $21.18 | +405% |
| Q4 2025 | $10.52 | +201% |
| Q3 2025 | $7.59 | +984% |
| Q2 2025 | $5.57 | +$6.99 |
| Q1 2025 | $4.19 | +$7.64 |
| Q4 2024 | $3.49 | +$9.77 |
MU's earnings per share have climbed steadily: $74.33 over the past year, about 10 times what it earned the year before, and higher year over year for 10 quarters in a row.
EXLS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $634M | +20% |
| Q2 2026 | $594.8M | +16% |
| Q1 2026 | $570.4M | +14% |
| Q4 2025 | $542.6M | +13% |
| Q3 2025 | $529.6M | +12% |
| Q2 2025 | $514.5M | +15% |
| Q1 2025 | $501M | +15% |
| Q4 2024 | $481.4M | +16% |
EXLS's revenue has grown year over year for 23 quarters in a row: $634M last quarter, up 20% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | -0.4 points |
| Q2 2026 | 15% | -1.1 points |
| Q1 2026 | 16% | +0.5 points |
| Q4 2025 | 14% | -0.4 points |
| Q3 2025 | 14% | -0.3 points |
| Q2 2025 | 16% | +2.1 points |
| Q1 2025 | 16% | +1.6 points |
| Q4 2024 | 15% | +1.7 points |
EXLS's operating margin was 14% last quarter, about level with the same quarter a year ago.
MU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $54.2B | +379% |
| Q2 2026 | $41.5B | +346% |
| Q1 2026 | $23.9B | +196% |
| Q4 2025 | $13.6B | +57% |
| Q3 2025 | $11.3B | +46% |
| Q2 2025 | $9.3B | +37% |
| Q1 2025 | $8.1B | +38% |
| Q4 2024 | $8.7B | +84% |
MU has the edge over EXLS on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 81% | +48 points |
| Q2 2026 | 80% | +57 points |
| Q1 2026 | 68% | +46 points |
| Q4 2025 | 45% | +20 points |
| Q3 2025 | 32% | +13 points |
| Q2 2025 | 23% | +13 points |
| Q1 2025 | 22% | +19 points |
| Q4 2024 | 25% | +49 points |
MU has the edge over EXLS on profitability, with a higher operating margin.
EXLS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $102.5M | -3.6% |
| Q2 2026 | $73.4M | -23% |
| Q1 2026 | -$11.2M | -$1.5M |
| Q4 2025 | $106.5M | +12% |
| Q3 2025 | $106.4M | +9.3% |
| Q2 2025 | $95M | +51% |
| Q1 2025 | -$9.7M | +$23.4M |
| Q4 2024 | $95.3M | +41% |
EXLS generated $271M in free cash flow over the past year, down 5.5% from the year before.
MU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $32.9B | +45543% |
| Q2 2026 | $17.6B | +951% |
| Q1 2026 | $5.5B | +$5.6B |
| Q4 2025 | $3B | +7853% |
| Q3 2025 | $72M | -75% |
| Q2 2025 | $1.7B | +322% |
| Q1 2025 | -$113M | +$52M |
| Q4 2024 | $38M | +$433M |
MU has the edge over EXLS on cash flow, with more consistent year-over-year improvement.
EXLS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -262K shares |
| 1 year | -5.7% | -9.1M shares |
| 3 years | -9% | -15.1M shares |
| 5 years | -11% | -19M shares |
| Available history | -12% | -20.9M shares |
EXLS has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $25.8M |
| Q2 2026 | $20.6M |
| Q1 2026 | $166M |
| Q4 2025 | $109.6M |
| Q3 2025 | $159.2M |
| Q2 2025 | $41.7M |
| Q1 2025 | $18M |
| Q4 2024 | $12M |
EXLS spent $322M buying back its own shares over the past year, up 39% from the year before.
MU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -2M shares |
| 1 year | +1.6% | +18M shares |
| 3 years | +4.6% | +50M shares |
| 5 years | +0.2% | +2M shares |
| Available history | +1.2% | +14M shares |
MU has 1.1B diluted shares, up 1.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $350M |
| Q4 2025 | $300M |
| Q3 2024 | $300M |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
MU has spent almost nothing on buybacks in the past year.
EXLS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.9x | Very low |
| Q2 2026 | 0.7x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | 0.5x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.4x | Very low |
EXLS's net debt is less than a year of its operating earnings (EBITDA).
MU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | 0.1x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.6x | Very low |
MU has the edge over EXLS on leverage, with a lower net debt burden relative to earnings.
EXLS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 69.3 | Neutral |
| Stochastic | 89.5 | Overbought |
EXLS's weekly RSI is 69 (neutral) and its Stochastic is 90 (overbought).
MU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.1 | Neutral |
| Stochastic | 26.9 | Neutral |
MU's weekly RSI is 47 (neutral) and its Stochastic is 27 (neutral).
EXLS PE vs Technology Sector
| Metric | EXLS | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 28x | 7.9% below |
| PE % | 12 | 35 | 23 pts below |
EXLS is trading at 26x earnings, in line with the Technology sector's median of 28x.
MU PE vs Technology Sector
| Metric | MU | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 28x | 61% below |
| PE % | 18 | 35 | 17 pts below |
MU has the edge over EXLS on valuation relative to its sector.
EXLS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $39.6 | 8.8% above |
| 20 week MA | $35.7 | 21% above |
| 50 week MA | $34.4 | 25% above |
| 100 week MA | $39.5 | 9.2% above |
| 200 week MA | $36.0 | 20% above |
EXLS has the edge over MU on trend strength, trading above more of its moving averages.
MU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $914.5 | 13% below |
| 20 week MA | $931.0 | 14% below |
| 50 week MA | $685.9 | 16% above |
| 100 week MA | $405.4 | 97% above |
| 200 week MA | $246.0 | 225% above |
MU has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 225% above its 200-week average.
EXLS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $14.0 | $17.2 | +24% |
| 2021 | $17.2 | $28.0 | +62% |
| 2022 | $28.0 | $34.5 | +23% |
| 2023 | $34.5 | $30.9 | -11% |
| 2024 | $30.9 | $44.5 | +44% |
| 2025 | $44.5 | $43.3 | -2.8% |
| 2026 YTD | $43.3 | $43.1 | -0.5% |
EXLS has finished higher in four of the last six years. It's roughly flat so far in 2026.
MU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $54.0 | $70.6 | +31% |
| 2021 | $70.6 | $94.4 | +34% |
| 2022 | $94.4 | $50.2 | -47% |
| 2023 | $50.2 | $85.3 | +70% |
| 2024 | $85.3 | $88.6 | +3.9% |
| 2025 | $88.6 | $284.8 | +221% |
| 2026 YTD | $284.8 | $798.4 | +180% |
MU has the edge over EXLS on returns for 2026, with the stronger performance.