EXLS vs INFY vs MWC Stock Comparison

ExlService Holdings, Infosys and Micware Prices as of Oct 27, 2026 Peers: Industry group
INFY Infosys Ltd
$12.09 +14.9% 1M -29.0% 1Y
Market cap
$49.03B
P/E
0.2x
Revenue (TTM)
$952.02B
Div. yield
2.15%
IT Services Technology
8 wins
MWC Micware Co., Ltd.
$1.51 -10.1% 1M
Market cap
$84.77M
P/E
8.2x
Revenue (TTM)
—
Div. yield
–
IT Services Technology

Head to Head

10 decided of 12

Infosys leads on 8 of the 12 questions below (Infosys 8, ExlService Holdings 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionEXLSINFYMWCLeader
Larger companyMarket capitalisation $6.18B $49.03B $84.77M INFY
Cheaper on earningsLower P/E, profitable companies only 23.8x 0.2x 8.2x INFY
Cheaper on forward earningsLower price / next fiscal year consensus EPS 18.9x 14.7x — INFY
Faster revenue growthRevenue growth, trailing twelve months +15.6% +4,736.0% — INFY
More profitableNet margin, trailing twelve months 11.1% 32.3% — INFY
Better return on capitalReturn on invested capital 19.9% — — –
Less leveragedLower net debt / EBITDA 0.4x 0.2x — INFY
Higher dividend yieldTrailing dividend yield — 2.15% — –
Better 1-year returnPrice return, last 12 months -1.3% -29.0% — EXLS
Better 5-year returnAnnualised price return, 5 years +10.9%/yr -11.7%/yr — EXLS
Less volatileAnnualised volatility, 1 year 43.4% 42.0% 174.2% INFY
Higher overall scoreMean of the five percentile scores vs peers 64/100 82/100 — INFY

Percentile Scorecard

EXLSINFYMWC

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisEXLSINFYMWC
Valuation 16 #42 of 50 100 #1 of 50 74 #14 of 50
Growth 75 #12 of 45 93 #4 of 45 –
Profitability 95 #3 of 41 88 #6 of 41 –
Financial Health 62 #24 of 62 64 #23 of 62 39 #38 of 62
Shareholder Returns 72 #9 of 30 66 #11 of 30 –
Overall 64 82 –
  • EXLS ranked among 66 companies in Technology Services
  • INFY ranked among 66 companies in Technology Services
  • MWC ranked among 66 companies in Technology Services

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodEXLSINFYMWCSPY
1 month +17.8%+14.9%-10.1% -0.2%
3 months +34.1%-2.1%-5.0% +3.9%
6 months +33.6%-1.3%— +8.2%
Year to date -3.6%-32.2%— +12.9%
1 year -1.3%-29.0%— +12.3%
3 years +59.6%-26.5%— +87.4%
3 years, per year +16.9%-9.7%— +23.3%
5 years +67.3%-46.4%— +67.9%
5 years, per year +10.9%-11.7%— +10.9%
10 years +357.8%+57.4%— +261.1%
10 years, per year +16.4%+4.6%— +13.7%

Risk

MeasureEXLSINFYMWCSPY
Volatility, 1Y 43.4%42.0%174.2% 12.7%
Downside volatility, 1Y 45.5%43.6%158.4% 12.7%
Beta vs S&P 500, 1Y -0.070.380.67 1.00
Return / volatility, 1Y -0.03-0.69— 0.97
Max drawdown, 5Y -51.3%-60.0%-86.5% -25.4%
From 52-week high -5.6%-40.2%-81.6% -1.2%
52-week high $43.38$20.22$8.20 $779.14
52-week low $25.22$10.49$1.11 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleEXLSINFYMWC
P/E now vs peer median 23.8xmedian 17.4x 0.2xmedian 17.4x 8.2xmedian 17.4x
P/S now vs peer median 2.6xmedian 0.7x 0.1xmedian 0.7x 0.5xmedian 0.7x
EV/EBITDA now vs peer median 15.5xmedian 10.7x 0.5xmedian 10.7x —median 10.7x
P/FCF now vs peer median 22.8xmedian 11.5x 2.3xmedian 11.5x 8.4xmedian 11.5x
P/B now vs peer median 6.7xmedian 1.4x 0.0xmedian 1.4x 1.6xmedian 1.4x
PEG now vs peer median 1.35median 1.51 0.00median 1.51 —median 1.51

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsEXLSINFYMWC
Revenue $2.34B $952.02B –
Gross profit $898.82M $133.02B –
Operating income $346.00M $86.76B –
Net income $260.61M $16.45B –
Free cash flow $271.19M $21.15B –
EPS (diluted) $1.71 $74.63 –
Cash & equivalents $154.07M $243.50B $52.99M
Total debt $511.05M $47.85B $47.54M
Shares (diluted) 152.57M 4.12B 56.07M
Enterprise value $4.98B $41.22B $33.15M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricEXLSINFYMWC
P/E 23.8x 0.2x 8.2x
P/FCF 22.8x 2.3x 8.4x
P/Operating cash flow 19.0x 2.6x –
P/S 2.6x 0.1x 0.5x
P/B 6.7x 0.0x 1.6x
P/Tangible book 7.5x 0.1x 1.6x
EV/EBITDA 15.5x 0.5x –
EV/EBIT 18.4x 0.8x –
EV/Revenue 2.7x 0.1x –
EV/FCF 23.5x 3.5x –
EV/Operating cash flow 19.5x 3.9x –
PEG (3Y EPS CAGR) 1.35 0.00 –

Growth

14 metrics
MetricEXLSINFYMWC
Revenue growth (1Y) 15.6% 4,736% –
Revenue CAGR (3Y) 13.7% 34.8% –
Gross profit growth (1Y) 16.0% 2,114% –
Gross profit CAGR (3Y) 14.9% 186.2% –
Operating income growth (1Y) 12.7% 1,997% –
Operating income CAGR (3Y) 13.7% 180.8% –
Net income growth (1Y) 7.9% -4.7% –
Net income CAGR (3Y) 14.0% 15.4% –
EPS growth (1Y) 14.4% 116.2% –
EPS CAGR (3Y) 17.6% 34.4% –
Operating cash flow growth (1Y) -3.7% 127.6% –
Operating cash flow CAGR (3Y) 18.3% 1.4% –
Free cash flow growth (1Y) -5.5% -3.0% –
Free cash flow CAGR (3Y) 23.7% 5.3% –

Profitability

14 metrics
MetricEXLSINFYMWC
Gross margin 38.4% 14.0% –
EBITDA margin 17.5% 14.6% –
Operating margin 14.8% 9.1% –
Pretax margin 14.4% 22.6% –
Net margin 11.1% 32.3% –
FCF margin 11.6% 2.2% –
Operating cash flow margin 13.9% 1.9% –
Return on equity 29.0% 31.0% –
Return on assets 13.6% 18.6% –
Return on invested capital 19.9% – –
Return on capital employed 23.6% 29.9% –
Asset turnover 1.2x 1.2x –
Cash conversion (OCF / net income) 1.3x 1.1x –
Stock comp / revenue 4.0% 0.0% –

Financial Health

11 metrics
MetricEXLSINFYMWC
Debt / assets 24.6% 1.7% 30.3%
Debt / equity 0.6x 0.0x 0.9x
Net debt / EBITDA 0.4x 0.2x –
Debt / FCF 1.9x 1.3x –
Liabilities / assets 55.2% 39.1% 66.4%
Equity / assets 44.8% 60.9% 33.6%
Interest coverage 17.6x 41.8x –
Current ratio 2.2x 2.0x 1.7x
Quick ratio 2.2x 0.7x 1.2x
Cash ratio 0.7x 0.0x 0.9x
Altman Z-score 6.39 – –

Shareholder Returns

7 metrics
MetricEXLSINFYMWC
Dividend yield – 2.2% –
Net buyback yield 5.1% – –
Shareholder yield 5.1% 2.2% –
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusEXLSINFYMWC
Forward P/E 18.9xFY2026 14.7xFY2026 –
EPS, next fiscal year $2.16FY2026 $0.82FY2026 –
EPS growth, next FY +10.8%FY2026 +2.5%FY2026 –
EPS growth, the year after +26.4% +8.5% –
Revenue, next fiscal year $2.53BFY2026 $21.28BFY2026 –
Revenue growth, next FY +21.3%FY2026 +5.6%FY2026 –
Revenue growth, the year after +3.5% -3.2% –

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersEXLSINFYMWC
Held by institutions 100.0% 13.2% –
Institutions holding 442 431 –
Change in shares held, QoQ +1.7% +18.7% –
Institutions buying 211 218 –
Institutions selling 188 163 –
Buyers to sellers 1.12 1.34 –

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

EXLSINFYMWC
EXLS 1.00 0.58 0.06
INFY 0.58 1.00 -0.04
MWC 0.06 -0.04 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, EXLS, INFY and MWC?

Infosys (INFY) is the largest by market capitalisation: ExlService Holdings (EXLS) $6.18B, Infosys (INFY) $49.03B, Micware (MWC) $84.77M.

Which stock is cheaper, EXLS, INFY and MWC?

Infosys (INFY) trades on the lowest price-to-earnings ratio (ExlService Holdings (EXLS) 23.8x, Infosys (INFY) 0.2x, Micware (MWC) 8.2x). On next year's consensus earnings, Infosys (INFY) is cheapest (ExlService Holdings (EXLS) 18.9x, Infosys (INFY) 14.7x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Infosys (INFY) grew revenue fastest over the trailing twelve months: ExlService Holdings (EXLS) +15.6%, Infosys (INFY) +4,736.0%.

Which company is more profitable?

Infosys (INFY) has the highest net margin (ExlService Holdings (EXLS) 11.1%, Infosys (INFY) 32.3%).

Which stock has performed better?

Over the past year ExlService Holdings (EXLS) returned the most: ExlService Holdings (EXLS) -1.3%, Infosys (INFY) -29.0%. Over five years, ExlService Holdings (EXLS) compounded fastest (ExlService Holdings (EXLS) +10.9%/yr, Infosys (INFY) -11.7%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Infosys (INFY) 2.15%. ExlService Holdings (EXLS) and Micware (MWC) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Infosys (INFY) has been the steadiest (ExlService Holdings (EXLS) 43.4%, Infosys (INFY) 42.0%, Micware (MWC) 174.2%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, EXLS, INFY and MWC?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Infosys (INFY) leads on 8. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.