• ExlService Holdings average ebitda margin for 2023 was 19.27%, a 1.18% decline from 2022.
• ExlService Holdings average ebitda margin for 2022 was 19.5%, a 9.72% decline from 2021.
• ExlService Holdings average ebitda margin for 2021 was 21.6%, a 21.21% decline from 2020.

Ebitda margin can be defined as earnings before interest, taxes, depreciation and amortization as a portion of total revenue.