Expleo Solutions Limited (EXPLEOSOL.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+148.9%

₹2,060.54

vs ₹827.70 price

Levered DCF

₹3,931.71

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

9.16

Safe zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	8.12×	12.34×	21.87×	14.2×	38.86×	10.69×	3.79×	15.15×
P/B	1.3×	2×	3.24×	3.59×	4.64×	2.67×	0.99×	3.95×
P/S	0.91×	1.24×	2.05×	2.1×	2.47×	1.79×	0.56×	1.94×
EV / EBITDA	3.42×	5.97×	11.74×	8.24×	12.9×	5.95×	1.32×	7.62×
Gross margin	33.8%	40.0%	19.9%	39.2%	50.2%	42.4%	45.7%	35.2%
Operating margin	12.8%	12.5%	12.2%	19.2%	14.4%	21.6%	17.6%	18.0%
Net margin	11.2%	10.1%	9.4%	14.8%	9.1%	16.8%	14.8%	12.8%
Current ratio	5.55×	3.9×	5.77×	3.3×	2.57×	4.11×	3.32×	3.11×
Debt / equity	0.01×	0.05×	0.04×	0.05×	0.04×	0.03×	0.06×	0×
Interest coverage	63.37×	38.61×	44.98×	76.83×	88.46×	61.48×	42.85×	759.39×
Dividend yield	0.0%	6.1%	0.4%	0.0%	0.0%	0.0%	0.0%	3.9%
Payout ratio	0.0%	75.2%	8.6%	0.0%	0.0%	0.0%	0.0%	59.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	16.0%	16.2%	14.8%	25.3%	17.2%	25.0%	26.2%	26.1%
Return on invested capital	13.4%	13.7%	13.3%	22.0%	15.6%	22.7%	21.6%	24.5%
Return on assets	13.3%	12.4%	11.8%	18.3%	11.4%	19.1%	18.6%	18.8%
Free cash flow yield	12.6%	13.5%	2.6%	-1.1%	-0.1%	11.5%	9.5%	7.0%
Earnings yield	12.3%	8.1%	4.6%	7.0%	3.7%	9.4%	26.4%	6.6%
Enterprise value	₹6.6B	₹10.9B	₹18.3B	₹17.7B	₹16.7B	₹4.5B	₹806M	₹4.5B
Net debt / EBITDA	-1.79×	-1.03×	-0.96×	-0.59×	-1.22×	-1.22×	-1.16×	-1.66×
Cash conversion cycle (days)	47	43	88	78	34	70	76	45