EXLS
ExlService Holdings, Inc.
EXLS has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over EXLS overall, supported by stronger fundamentals and stronger modeled upside.
EXLS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Healthy |
EXLS's revenue, profitability, cash flow and balance sheet are all currently healthy.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK'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's PE is in its cheap range at 26x. If earnings grow as analysts expect, today's price would be 17x next year's earnings.
SNDK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 3.8x | $937 | — |
| Current | 7.5x | $937 | — |
| Cheap | 17x | $2,173 | +132% |
| Fair | 24x | $3,048 | +225% |
| Expensive | 59x | $7,452 | +695% |
Historical ranges are pointers, not guarantees.
SNDK has the edge over EXLS in the historical PE scenario, which offers more potential upside but is not a forecast.
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.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
SNDK 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.
SNDK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $247.30 | +97% |
| Q3 2026 | $125.61 | +$137.63 |
| Q2 2026 | $73.76 | +$85.07 |
| Q2 2025 | -$11.31 | -$6.65 |
SNDK has the edge over EXLS in the latest year-over-year earnings comparison.
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.
SNDK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11B | +378% |
| Q2 2026 | $9B | +372% |
| Q1 2026 | $6B | +251% |
| Q4 2025 | $3B | +61% |
| Q3 2025 | $2.3B | +23% |
| Q2 2025 | $1.9B | +8% |
| Q1 2025 | $1.7B | -0.6% |
| Q4 2024 | $1.9B | +13% |
SNDK's revenue has grown year over year for six quarters in a row: $11B last quarter, up 378% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 80% | +72 points |
| Q2 2026 | 78% | +78 points |
| Q1 2026 | 69% | +180 points |
| Q4 2025 | 35% | +25 points |
| Q3 2025 | 7.6% | -9 points |
| Q2 2025 | 0.9% | N/A |
| Q1 2025 | -111% | -122 points |
| Q4 2024 | 10% | +6.6 points |
SNDK 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.
SNDK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.3B | +1340% |
| Q2 2026 | $7.1B | +14355% |
| Q1 2026 | $3B | +$3B |
| Q3 2025 | $438M | +$636M |
| Q2 2025 | $49M | +$217M |
| Q1 2025 | -$18M | +$23M |
| Q3 2024 | -$198M | -$157M |
SNDK 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 SNDK 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.
SNDK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -1M shares |
| 1 year | +3.4% | +5M shares |
| 3 years | +6.9% | +10M shares |
SNDK has 154M diluted shares, up 3.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5B |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
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).
SNDK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
SNDK 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).
SNDK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.2 | Neutral |
| Stochastic | 10.6 | Oversold |
SNDK's weekly RSI is 40 (neutral) and its Stochastic is 11 (oversold).
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.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK 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 stronger trend alignment. EXLS is above 5 of 5 weekly averages versus SNDK above 0 of 3.
SNDK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,317.5 | 29% below |
| 20 week MA | $1,465.4 | 36% below |
| 50 week MA | $1,119.6 | 16% below |
SNDK is in a downtrend: it's below all three of its weekly moving averages, and 16% below its 50-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.
SNDK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $50.4 | $250.1 | +396% |
| 2026 YTD | $250.1 | $937.5 | +275% |
SNDK has the edge over EXLS on returns for 2026, with the stronger performance.