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ExlService Holdings, Inc.（EXLS）与Upstart Holdings, Inc.（UPST）财务数据对比。点击上方公司名可切换其他公司
ExlService Holdings, Inc.的季度营收约是Upstart Holdings, Inc.的1.8倍（$542.6M vs $296.1M），ExlService Holdings, Inc.净利率更高（11.1% vs 6.3%，领先4.8%），Upstart Holdings, Inc.同比增速更快（35.2% vs 12.7%），Upstart Holdings, Inc.自由现金流更多（$108.4M vs $106.5M），过去两年Upstart Holdings, Inc.的营收复合增速更高（52.2% vs 11.5%）
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。
Upstart是一家AI信贷平台服务商，与银行及信用合作社合作，将教育背景、就业情况等非传统指标纳入信用评估模型，更精准地预测借款人的信用状况，为用户提供消费贷款服务，助力金融机构提升信贷效率、扩大服务覆盖范围。
EXLS vs UPST — 直观对比
营收规模更大
EXLS
是对方的1.8倍
$296.1M
营收增速更快
UPST
高出22.5%
12.7%
净利率更高
EXLS
高出4.8%
6.3%
自由现金流更多
UPST
多$1.9M
$106.5M
两年增速更快
UPST
近两年复合增速
11.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $542.6M | $296.1M |
| 净利润 | $60.2M | $18.6M |
| 毛利率 | 38.6% | — |
| 营业利润率 | 14.4% | 6.4% |
| 净利率 | 11.1% | 6.3% |
| 营收同比 | 12.7% | 35.2% |
| 净利润同比 | 18.9% | 776.4% |
| 每股收益（稀释后） | $0.38 | $0.20 |
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EXLSUPST
| Q4 25 | $542.6M | $296.1M | ||
| Q3 25 | $529.6M | $277.1M | ||
| Q2 25 | $514.5M | $257.3M | ||
| Q1 25 | $501.0M | $213.4M | ||
| Q4 24 | $481.4M | $219.0M | ||
| Q3 24 | $472.1M | $162.1M | ||
| Q2 24 | $448.4M | $127.6M | ||
| Q1 24 | $436.5M | $127.8M |
净利润EXLSUPST
| Q4 25 | $60.2M | $18.6M | ||
| Q3 25 | $58.2M | $31.8M | ||
| Q2 25 | $66.1M | $5.6M | ||
| Q1 25 | $66.6M | $-2.4M | ||
| Q4 24 | $50.7M | $-2.8M | ||
| Q3 24 | $53.0M | $-6.8M | ||
| Q2 24 | $45.8M | $-54.5M | ||
| Q1 24 | $48.8M | $-64.6M |
毛利率EXLSUPST
| Q4 25 | 38.6% | — | ||
| Q3 25 | 38.5% | — | ||
| Q2 25 | 37.7% | — | ||
| Q1 25 | 38.6% | — | ||
| Q4 24 | 38.1% | — | ||
| Q3 24 | 37.8% | — | ||
| Q2 24 | 37.1% | — | ||
| Q1 24 | 37.4% | — |
营业利润率EXLSUPST
| Q4 25 | 14.4% | 6.4% | ||
| Q3 25 | 14.4% | 8.5% | ||
| Q2 25 | 15.8% | 1.8% | ||
| Q1 25 | 15.7% | -2.1% | ||
| Q4 24 | 14.8% | -2.2% | ||
| Q3 24 | 14.7% | -27.8% | ||
| Q2 24 | 13.7% | -43.5% | ||
| Q1 24 | 14.1% | -52.8% |
净利率EXLSUPST
| Q4 25 | 11.1% | 6.3% | ||
| Q3 25 | 11.0% | 11.5% | ||
| Q2 25 | 12.8% | 2.2% | ||
| Q1 25 | 13.3% | -1.1% | ||
| Q4 24 | 10.5% | -1.3% | ||
| Q3 24 | 11.2% | -4.2% | ||
| Q2 24 | 10.2% | -42.7% | ||
| Q1 24 | 11.2% | -50.5% |
每股收益（稀释后）EXLSUPST
| Q4 25 | $0.38 | $0.20 | ||
| Q3 25 | $0.36 | $0.23 | ||
| Q2 25 | $0.40 | $0.05 | ||
| Q1 25 | $0.40 | $-0.03 | ||
| Q4 24 | $0.31 | $-0.01 | ||
| Q3 24 | $0.33 | $-0.07 | ||
| Q2 24 | $0.28 | $-0.62 | ||
| Q1 24 | $0.29 | $-0.74 |
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 | $652.4M |
| 总债务越低越好 | $298.6M | — |
| 股东权益账面价值 | $912.7M | $798.8M |
| 总资产 | $1.7B | $3.0B |
| 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EXLSUPST
| Q4 25 | $328.4M | $652.4M | ||
| Q3 25 | $390.1M | $489.8M | ||
| Q2 25 | $353.3M | $395.9M | ||
| Q1 25 | $331.4M | $599.8M | ||
| Q4 24 | $340.6M | $788.4M | ||
| Q3 24 | $325.8M | — | ||
| Q2 24 | $276.1M | — | ||
| Q1 24 | $246.2M | — |
总债务EXLSUPST
| Q4 25 | $298.6M | — | ||
| Q3 25 | $354.8M | — | ||
| Q2 25 | $260.0M | — | ||
| Q1 25 | $307.3M | — | ||
| Q4 24 | $288.5M | — | ||
| Q3 24 | $344.7M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益EXLSUPST
| Q4 25 | $912.7M | $798.8M | ||
| Q3 25 | $952.4M | $743.7M | ||
| Q2 25 | $1.1B | $722.0M | ||
| Q1 25 | $1.0B | $676.6M | ||
| Q4 24 | $929.9M | $633.2M | ||
| Q3 24 | $907.6M | $595.5M | ||
| Q2 24 | $852.6M | $594.7M | ||
| Q1 24 | $803.3M | $612.8M |
总资产EXLSUPST
| Q4 25 | $1.7B | $3.0B | ||
| Q3 25 | $1.7B | $2.9B | ||
| Q2 25 | $1.7B | $2.5B | ||
| Q1 25 | $1.7B | $2.3B | ||
| Q4 24 | $1.6B | $2.4B | ||
| Q3 24 | $1.6B | $1.8B | ||
| Q2 24 | $1.5B | $1.8B | ||
| Q1 24 | $1.4B | $1.9B |
负债/权益比EXLSUPST
| Q4 25 | 0.33× | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | 0.25× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.38× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $108.6M |
| 自由现金流经营现金流 - 资本支出 | $106.5M | $108.4M |
| 自由现金流率自由现金流/营收 | 19.6% | 36.6% |
| 资本支出强度资本支出/营收 | 2.0% | 0.1% |
| 现金转化率经营现金流/净利润 | 1.95× | 5.82× |
| 过去12个月自由现金流最近4个季度 | $298.1M | — |
8季度趋势，按日历期对齐
经营现金流EXLSUPST
| Q4 25 | $117.4M | $108.6M | ||
| Q3 25 | $120.7M | $-122.6M | ||
| Q2 25 | $109.4M | $-120.2M | ||
| Q1 25 | $3.2M | $-13.5M | ||
| Q4 24 | $105.3M | $-110.9M | ||
| Q3 24 | $110.1M | $179.3M | ||
| Q2 24 | $74.9M | $65.3M | ||
| Q1 24 | $-21.9M | $52.6M |
自由现金流EXLSUPST
| Q4 25 | $106.5M | $108.4M | ||
| Q3 25 | $106.4M | $-122.7M | ||
| Q2 25 | $95.0M | $-120.3M | ||
| Q1 25 | $-9.7M | — | ||
| Q4 24 | $95.3M | — | ||
| Q3 24 | $97.3M | $179.2M | ||
| Q2 24 | $62.8M | $65.3M | ||
| Q1 24 | $-33.1M | $51.9M |
自由现金流率EXLSUPST
| Q4 25 | 19.6% | 36.6% | ||
| Q3 25 | 20.1% | -44.3% | ||
| Q2 25 | 18.5% | -46.7% | ||
| Q1 25 | -1.9% | — | ||
| Q4 24 | 19.8% | — | ||
| Q3 24 | 20.6% | 110.5% | ||
| Q2 24 | 14.0% | 51.1% | ||
| Q1 24 | -7.6% | 40.6% |
资本支出强度EXLSUPST
| Q4 25 | 2.0% | 0.1% | ||
| Q3 25 | 2.7% | 0.0% | ||
| Q2 25 | 2.8% | 0.0% | ||
| Q1 25 | 2.6% | 0.0% | ||
| Q4 24 | 2.1% | 0.0% | ||
| Q3 24 | 2.7% | 0.1% | ||
| Q2 24 | 2.7% | 0.0% | ||
| Q1 24 | 2.6% | 0.5% |
现金转化率EXLSUPST
| Q4 25 | 1.95× | 5.82× | ||
| Q3 25 | 2.08× | -3.86× | ||
| Q2 25 | 1.66× | -21.43× | ||
| Q1 25 | 0.05× | — | ||
| Q4 24 | 2.08× | — | ||
| Q3 24 | 2.08× | — | ||
| Q2 24 | 1.63× | — | ||
| Q1 24 | -0.45× | — |
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% |
UPST
| Personal Lending Segment | $201.4M | 68% |
| Servicing Fees Net | $39.5M | 13% |
| Servicing Fees | $27.5M | 9% |
| Other | $15.7M | 5% |
| Borrower Fees | $8.4M | 3% |
| Collection Agency Fees | $3.5M | 1% |
