Battle experience gains are divided by the by the number of champions (including Sovereigns, but excluding Henchmen and Sions) that you have in your army. Additionally, the base battle experience values before the division by hero count are in some manner determined by the strength ratio between the army you attacked with and the army you attacked, and champions will usually count more towards the 'army strength' metric than trained units will, and higher level units count more than similar lower level units. The biggest thing affecting experience gain is still probably that you had 5 champions all in one stack, though - even just taking one champion out of that stack should give you a roughly 25% bonus to experience gain even assuming the basic battle experience value remained unchanged.
If you really wanted to see just how much of a bonus you're getting out of removing various champions, you'll have to take out the experience bonus from traits like Potential, Trainer, or Altarian Blood before summing up the battle experience. Net result should be a 25% increase for using 4 champions instead of 5, or a 60% increase for using 3 champions instead of 5, or a 150% increase for using 2 champions instead of 5, or a 500% increase for using 1 champion instead of 5, before accounting for the bonus you're getting for using a weaker army to defeat the enemy stack. Also note that each of the strength ratings appears to cover a range of values for some hidden strength metric, so if you take two different "Strong" armies against the same enemy "Strong" army you can get different amounts of experience out of the battle even accounting for differing numbers of champions and experience-booster traits.
In case you're curious:
Champion Level. Experience to next level / total experience required for current level
- 10 / 0
- 22 / 10
- 37 / 32
- 54 / 69
- 74 / 123
- 97 / 197
- 122 / 294
- 150 / 416
- 181 / 566
- ?215 / 747
- ?251 / 962
- 292 / 1213
- 335 / 1505
- 381 / 1840
- 429 / 2221
- 481 / 2650
- 536 / 3131
- 594 / 3667
- 655 / 4261
- 719 / 4916
- 786 / 5635
- ??? / 6421
These numbers are mostly accurate, though I'm not positive about the experience required at levels 10 and 11 to gain the next level. Also, these values are the same for regular units, but regular units earn half of whatever the base amount a champion would have earned from the same battle (add in Trainer, Potential, and General bonuses if you happen to have them in your army). As far as I'm aware, units will always gain at least one experience if they survive a battle. Even if they do not, though, they will still count towards the 'army strength' used to calculate the base experience value, and a champion who falls in battle will still count towards the total number of champions involved in the battle for dividing experience afterwards, even though the fallen champion will not gain any experience for the battle.
At least for the levels covered by the chart, it would appear that a quadratic curve fit based on character level is sufficient for computing the experience required to attain the next level:
exp_for_lvlup = 1.462*cur_lvl^2 + 6.475*cur_lvl + 4
This third-order polynomial fit also appears to match the numbers well:
exp_for_lvlup = 0.004*cur_lvl^3 + 1.306*cur_lvl^2 + 7.915*cur_lvl + 1.033
I would more readily believe the second-order polynomial matches the formula used than that the third-order polynomial does, but either should work reasonably well.
One thing to note about the experience requirement curve is that it makes taking the Potential and Knowledge traits somewhat questionable. Knowledge on its own will break even (in terms of trait count) at the point when your champion would normally be level 12 or so, Potential I breaks even when you'd normally be level 20 or so, Potential I and II together break even at roughly level 18, Potential I-III together will pay off when your champion would normally be around level 16. Knowledge with all three Potential traits will break even when your champion would normally be somewhere around level 10 or 11. If you're playing Legendary Heroes, this means that Potential I is more or less worthless, as there aren't any further Potential traits to take, and you're never going to have enough experience to be a full two levels ahead of a theoretical regular champion unless you really drag out the game and focus on leveling a champion (really - you'd have to be somewhere around level 40 on a regular champion before Potential I will give your champion a two-level or 1-trait advantage). If you're planning for a long game, they're decent (especially if you're focusing on one or two main champions to get to high levels), but otherwise they're a little bit wasted.
There are also some older threads on the value of the "champions divide experience gains", if you want to see player discussion of its worth. I have posted in several of those threads, so you could find some through my post history; I believe Leo in WI has also posted in several of those threads. One of the longer such threads is this one: https://forums.elementalgame.com/443801/page/1/