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ExlService Holdings, Inc.（EXLS）与Tyler Technologies（TYL）财务数据对比。点击上方公司名可切换其他公司
Tyler Technologies的季度营收约是ExlService Holdings, Inc.的1.1倍（$613.5M vs $542.6M），Tyler Technologies净利率更高（13.2% vs 11.1%，领先2.1%），ExlService Holdings, Inc.同比增速更快（12.7% vs 8.6%），ExlService Holdings, Inc.自由现金流更多（$106.5M vs $2.0M），过去两年ExlService Holdings, Inc.的营收复合增速更高（11.5% vs 6.5%）
ExlService Holdings Inc.是全球知名的分析与数字解决方案服务商，服务覆盖保险、医疗健康、银行金融服务、媒体、零售等多个行业，总部位于纽约，在美国、欧洲、亚洲、拉美、澳大利亚、南非等地拥有超过5.4万名专业从业人员。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
EXLS vs TYL — 直观对比
营收规模更大
TYL
是对方的1.1倍
$542.6M
营收增速更快
EXLS
高出4.2%
8.6%
净利率更高
TYL
高出2.1%
11.1%
自由现金流更多
EXLS
多$104.5M
$2.0M
两年增速更快
EXLS
近两年复合增速
6.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $542.6M | $613.5M |
| 净利润 | $60.2M | $81.2M |
| 毛利率 | 38.6% | 48.3% |
| 营业利润率 | 14.4% | 16.3% |
| 净利率 | 11.1% | 13.2% |
| 营收同比 | 12.7% | 8.6% |
| 净利润同比 | 18.9% | — |
| 每股收益（稀释后） | $0.38 | $1.88 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收EXLSTYL
| Q1 26 | — | $613.5M | ||
| Q4 25 | $542.6M | $575.2M | ||
| Q3 25 | $529.6M | $595.9M | ||
| Q2 25 | $514.5M | $596.1M | ||
| Q1 25 | $501.0M | $565.2M | ||
| Q4 24 | $481.4M | $541.1M | ||
| Q3 24 | $472.1M | $543.3M | ||
| Q2 24 | $448.4M | $541.0M |
净利润EXLSTYL
| Q1 26 | — | $81.2M | ||
| Q4 25 | $60.2M | $65.5M | ||
| Q3 25 | $58.2M | $84.4M | ||
| Q2 25 | $66.1M | $84.6M | ||
| Q1 25 | $66.6M | $81.1M | ||
| Q4 24 | $50.7M | $65.2M | ||
| Q3 24 | $53.0M | $75.9M | ||
| Q2 24 | $45.8M | $67.7M |
毛利率EXLSTYL
| Q1 26 | — | 48.3% | ||
| Q4 25 | 38.6% | 45.5% | ||
| Q3 25 | 38.5% | 47.2% | ||
| Q2 25 | 37.7% | 45.8% | ||
| Q1 25 | 38.6% | 47.3% | ||
| Q4 24 | 38.1% | 43.8% | ||
| Q3 24 | 37.8% | 43.7% | ||
| Q2 24 | 37.1% | 44.0% |
营业利润率EXLSTYL
| Q1 26 | — | 16.3% | ||
| Q4 25 | 14.4% | 13.0% | ||
| Q3 25 | 14.4% | 16.4% | ||
| Q2 25 | 15.8% | 16.0% | ||
| Q1 25 | 15.7% | 15.8% | ||
| Q4 24 | 14.8% | 13.2% | ||
| Q3 24 | 14.7% | 15.2% | ||
| Q2 24 | 13.7% | 14.4% |
净利率EXLSTYL
| Q1 26 | — | 13.2% | ||
| Q4 25 | 11.1% | 11.4% | ||
| Q3 25 | 11.0% | 14.2% | ||
| Q2 25 | 12.8% | 14.2% | ||
| Q1 25 | 13.3% | 14.3% | ||
| Q4 24 | 10.5% | 12.1% | ||
| Q3 24 | 11.2% | 14.0% | ||
| Q2 24 | 10.2% | 12.5% |
每股收益（稀释后）EXLSTYL
| Q1 26 | — | $1.88 | ||
| Q4 25 | $0.38 | $1.50 | ||
| Q3 25 | $0.36 | $1.93 | ||
| Q2 25 | $0.40 | $1.93 | ||
| Q1 25 | $0.40 | $1.84 | ||
| Q4 24 | $0.31 | $1.48 | ||
| Q3 24 | $0.33 | $1.74 | ||
| Q2 24 | $0.28 | $1.57 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $328.4M | $346.4M |
| 总债务越低越好 | $298.6M | — |
| 股东权益账面价值 | $912.7M | $3.6B |
| 总资产 | $1.7B | $4.8B |
| 负债/权益比越低杠杆越低 | 0.33× | — |
8季度趋势，按日历期对齐
现金及短期投资EXLSTYL
| Q1 26 | — | $346.4M | ||
| Q4 25 | $328.4M | $1.1B | ||
| Q3 25 | $390.1M | $950.8M | ||
| Q2 25 | $353.3M | $892.3M | ||
| Q1 25 | $331.4M | $807.4M | ||
| Q4 24 | $340.6M | $768.0M | ||
| Q3 24 | $325.8M | $544.3M | ||
| Q2 24 | $276.1M | $258.0M |
总债务EXLSTYL
| Q1 26 | — | — | ||
| Q4 25 | $298.6M | $599.7M | ||
| Q3 25 | $354.8M | $599.2M | ||
| Q2 25 | $260.0M | $598.8M | ||
| Q1 25 | $307.3M | $598.4M | ||
| Q4 24 | $288.5M | $597.9M | ||
| Q3 24 | $344.7M | $597.5M | ||
| Q2 24 | — | $597.1M |
股东权益EXLSTYL
| Q1 26 | — | $3.6B | ||
| Q4 25 | $912.7M | $3.7B | ||
| Q3 25 | $952.4M | $3.6B | ||
| Q2 25 | $1.1B | $3.6B | ||
| Q1 25 | $1.0B | $3.5B | ||
| Q4 24 | $929.9M | $3.4B | ||
| Q3 24 | $907.6M | $3.3B | ||
| Q2 24 | $852.6M | $3.1B |
总资产EXLSTYL
| Q1 26 | — | $4.8B | ||
| Q4 25 | $1.7B | $5.6B | ||
| Q3 25 | $1.7B | $5.5B | ||
| Q2 25 | $1.7B | $5.4B | ||
| Q1 25 | $1.7B | $5.2B | ||
| Q4 24 | $1.6B | $5.2B | ||
| Q3 24 | $1.6B | $5.0B | ||
| Q2 24 | $1.5B | $4.8B |
负债/权益比EXLSTYL
| Q1 26 | — | — | ||
| Q4 25 | 0.33× | 0.16× | ||
| Q3 25 | 0.37× | 0.17× | ||
| Q2 25 | 0.25× | 0.16× | ||
| Q1 25 | 0.30× | 0.17× | ||
| Q4 24 | 0.31× | 0.18× | ||
| Q3 24 | 0.38× | 0.18× | ||
| Q2 24 | — | 0.19× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $117.4M | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $106.5M | $2.0M |
| 自由现金流率自由现金流/营收 | 19.6% | 0.3% |
| 资本支出强度资本支出/营收 | 2.0% | — |
| 现金转化率经营现金流/净利润 | 1.95× | 1.32× |
| 过去12个月自由现金流最近4个季度 | $298.1M | $585.7M |
8季度趋势，按日历期对齐
经营现金流EXLSTYL
| Q1 26 | — | $107.3M | ||
| Q4 25 | $117.4M | $243.9M | ||
| Q3 25 | $120.7M | $255.2M | ||
| Q2 25 | $109.4M | $98.3M | ||
| Q1 25 | $3.2M | $56.2M | ||
| Q4 24 | $105.3M | $224.8M | ||
| Q3 24 | $110.1M | $263.7M | ||
| Q2 24 | $74.9M | $64.3M |
自由现金流EXLSTYL
| Q1 26 | — | $2.0M | ||
| Q4 25 | $106.5M | $239.6M | ||
| Q3 25 | $106.4M | $251.3M | ||
| Q2 25 | $95.0M | $92.8M | ||
| Q1 25 | $-9.7M | $53.8M | ||
| Q4 24 | $95.3M | $221.0M | ||
| Q3 24 | $97.3M | $260.8M | ||
| Q2 24 | $62.8M | $57.7M |
自由现金流率EXLSTYL
| Q1 26 | — | 0.3% | ||
| Q4 25 | 19.6% | 41.7% | ||
| Q3 25 | 20.1% | 42.2% | ||
| Q2 25 | 18.5% | 15.6% | ||
| Q1 25 | -1.9% | 9.5% | ||
| Q4 24 | 19.8% | 40.8% | ||
| Q3 24 | 20.6% | 48.0% | ||
| Q2 24 | 14.0% | 10.7% |
资本支出强度EXLSTYL
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 0.8% | ||
| Q3 25 | 2.7% | 0.7% | ||
| Q2 25 | 2.8% | 0.9% | ||
| Q1 25 | 2.6% | 0.4% | ||
| Q4 24 | 2.1% | 0.7% | ||
| Q3 24 | 2.7% | 0.5% | ||
| Q2 24 | 2.7% | 1.2% |
现金转化率EXLSTYL
| Q1 26 | — | 1.32× | ||
| Q4 25 | 1.95× | 3.72× | ||
| Q3 25 | 2.08× | 3.02× | ||
| Q2 25 | 1.66× | 1.16× | ||
| Q1 25 | 0.05× | 0.69× | ||
| Q4 24 | 2.08× | 3.45× | ||
| Q3 24 | 2.08× | 3.47× | ||
| Q2 24 | 1.63× | 0.95× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
EXLS
| Insurance | $185.8M | 34% |
| Healthcare And Life Sciences | $142.2M | 26% |
| Banking Capital Markets And Diversified Industries | $122.6M | 23% |
| International Growth Markets | $92.0M | 17% |
TYL
| Subscriptions | $429.7M | 70% |
| Maintenance | $108.9M | 18% |
| Other | $74.9M | 12% |
