COMPARE · Reviewed July 29, 2026
EPAM vs EXLS
Verdict: Side-by-side breakdown using the Bull Rankings model. EPAM scored 82.6, EXLS scored 84.1 — EXLS leads.
Compare another set
EPAM
EPAM Systems, Inc.
82.6
$106.89 · $5.6B
fundamentals as of
Score gap
1.5
EXLS leads
EXLS
ExlService Holdings, Inc.
84.1
$35.99 · $5.5B
fundamentals as of
The model, pillar by pillar (0–100 each)
EPAM
stronger →← stronger
EXLS
72
Qualityreturns · margins · balance sheet
84
85
Growthrevenue & earnings expansion
91
93
Valuevaluation vs sector peers
77
EXLS is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
EPAM
EXLS
$544mC+
FCF
$297mC
+14.2%B+
Rev
+13.4%B+
0.08B+
D/E
0.67C+
15.4xA-
P/E
22.9xB+
0.49A
PEG
0.91B+
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
EPAM
EXLS
17% below
Price vs fair valuelower is cheaper
11% below
~1%/yr
Growth the price implies10-yr FCF · lower = less priced in
~5%/yr
+13%
1-yr DCF upside
-1%
+20%
5-yr DCF upside
+13%
+32%
10-yr DCF upside
+35%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
EPAM
Why this score
- Buying back stock
EXLS
Why this score
- Buying back stock
- Durable high returns
The companies
EPAMEPAM Systems, Inc.
Why now
Information Technology Services · market cap $5.6b. Down 52% from 52-week high of $222.53 — deep drawdown territory. Revenue growing +14%, comfortably above the S&P median. PEG 0.49 — paying under fair value for the growth rate. 17 sell-side analysts rate this a Buy with a mean 1-yr target of $135.24 (implying +27% upside).
Moat
ROE 11% meets the long-run market sustainable threshold — solid but not differentiated; the durability comes from elsewhere. FCF converts 141% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Down 52% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Beta 1.43 implies above-market volatility — position-size to the drawdowns this name will produce in a market correction, not to its bull-case return.
EXLSExlService Holdings, Inc.
Why now
Information Technology Services · market cap $5.5b. Down 24% from 52-week high of $47.11 — deep drawdown territory. Revenue growing +13%, comfortably above the S&P median. PEG 0.91 — paying under fair value for the growth rate. 8 sell-side analysts rate this a Buy with a mean 1-yr target of $40.13 (implying +11% upside).
Moat
ROE 32% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. FCF converts 118% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Value re-rating depends on a catalyst. Without one — analyst day, divestiture, margin recovery, capital return — the stock can stay cheap on these multiples for years.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.