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Expro Group Holdings
(NYSE:XPRO)
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Rating:69Neutral
Price Target:
$16.00
▲(1.33% Upside)
Action:Reiterated
Date:07/30/26
The score is supported primarily by improved operating and free-cash-flow performance and a strong, low-leverage balance sheet, alongside constructive guidance and accretive M&A/cost-savings initiatives. Offsetting these positives are weak technicals (price below major moving averages) and a high P/E valuation, plus near-term cash-flow and geopolitical/seasonality headwinds highlighted on the call.
Positive Factors
Balance-sheet strength
Very low leverage and sizable liquidity provide durable financial flexibility in a cyclical services sector. This reduces refinancing risk, supports opportunistic capex and M&A, and enables the company to return cash while sustaining operations through downturns, strengthening resilience over months.
Negative Factors
Low profitability & ROE
Despite revenue and operating improvements, slim net margins and very low ROE show limited earnings power relative to the equity base. Persistently low bottom-line conversion constrains reinvestment and shareholder returns unless margins sustainably expand or capital is reallocated.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength
Very low leverage and sizable liquidity provide durable financial flexibility in a cyclical services sector. This reduces refinancing risk, supports opportunistic capex and M&A, and enables the company to return cash while sustaining operations through downturns, strengthening resilience over months.
Read all positive factors
Expro Group Holdings (XPRO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.79B
Dividend YieldN/A
Average Volume (3M)1.07M
Price to Earnings (P/E)88.8
Beta (1Y)0.69
Revenue Growth-7.11%
EPS Growth-70.32%
CountryUS
Employees7,000
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.34
Shares Outstanding112,349,150
10 Day Avg. Volume951,494
30 Day Avg. Volume1,074,999
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)1.00
Price to Sales (P/S)0.96
P/FCF Ratio15.70
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$17.50Price Target Upside10.83% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)0.88
Revenue Forecast (FY)$1.60B
Expro Group Holdings Business Overview & Revenue Model
Company Description
Expro Group Holdings N.V. is a global provider of specialized energy services, operating across North and Latin America, Europe, Sub-Saharan Africa, the Middle East, North Africa, and the Asia-Pacific regions. The company delivers solutions crucia...
How the Company Makes Money
Expro makes money by contracting with oil and gas operators (and, in some cases, other service companies) to deliver specialized well services and equipment on a project or campaign basis across the well lifecycle. Revenue is primarily generated f...
Expro Group Holdings Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call conveyed a constructive and strategic tone: management reported solid core results despite seasonal headwinds and a modest working-capital-driven cash-flow shortfall, highlighted meaningful operational and technological achievements, and announced a strategically significant and accretive acquisition (Enhanced Drilling) expected to add >$50M of annual EBITDA and >$275M backlog. While near-term risks include seasonality, a ~$10–$15M Q2 revenue impact from the Middle East conflict with elevated EBITDA decrementals, and a Q1 working capital hit that reduced adjusted free cash flow to $3M, the company’s strong liquidity, net cash position, substantial Drive 25 cost savings (~$40M), clear M&A playbook, and unchanged full-year guidance underpin a positive outlook for H2 2026 and into 2027.Positive Updates
Quarterly Revenue and Adjusted EBITDA
Q1 2026 revenue of $368 million and adjusted EBITDA of $63 million, representing a 17.1% adjusted EBITDA margin.
Negative Updates
Weak Adjusted Free Cash Flow in Q1
Adjusted free cash flow of only $3 million in Q1 2026, below management expectations; driven primarily by adverse working capital movements (roughly $20 million worse than expected).
Read all updates
Q1-2026 Updates
Positive
Negative
Quarterly Revenue and Adjusted EBITDA
Q1 2026 revenue of $368 million and adjusted EBITDA of $63 million, representing a 17.1% adjusted EBITDA margin.
Read all positive updates
Company Guidance
Expro maintained its 2026 guidance unchanged and expects sequential quarterly improvement with a stronger second half, after reporting Q1 revenue of $368M, adjusted EBITDA of $63M (17.1% margin) and adjusted free cash flow of $3M (adversely affected by roughly $20M of working capital timing); Q1 regional revenues were NLA $128M (20% margin), ESSA $114M (28%), MENA $82M (29%) and APAC $44M (16%). Management expects the Middle East conflict to subtract about $10–15M of revenue in Q2 (Q1+projected Q2 impact ≈1% of full‑year revenue) with elevated decrementals to EBITDA, and foresees activity and margin expansion into H2. The company announced the NOK 2.0B (~$215M) Enhanced Drilling acquisition (adds >$275M backlog), expected to close in Q3, funded with cash and revolver borrowings, and to add >$50M to annual run‑rate adjusted EBITDA with >30% margins. Balance‑sheet metrics: total liquidity $517M (cash $171M), $79M revolver drawn, ~ $92M net cash and net debt substantially less than 1x adjusted EBITDA; capital allocation priorities include returning at least one‑third of free cash flow (Q1 buybacks: ~1.2M shares for $20M) and realizing Drive 25 cost savings of roughly $40M to help reach >25% adjusted EBITDA margin medium‑term.Expro Group Holdings Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
84
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.98B | 1.61B | 1.71B | 1.51B | 1.28B | 825.76M |
| Gross Profit | 226.05M | 205.22M | 233.17M | 110.61M | 82.29M | 731.00K |
| EBITDA | 346.12M | 292.73M | 273.95M | 197.15M | 161.11M | 17.04M |
| Net Income | 38.73M | 51.69M | 51.92M | -23.36M | -20.14M | -131.89M |
Balance Sheet | ||||||
| Total Assets | 2.26B | 2.35B | 2.41B | 2.07B | 1.96B | 1.92B |
| Cash, Cash Equivalents and Short-Term Investments | 199.57M | 197.47M | 184.66M | 153.17M | 218.46M | 239.85M |
| Total Debt | 171.31M | 224.62M | 203.05M | 110.88M | 94.72M | 110.30M |
| Total Liabilities | 754.79M | 814.17M | 916.47M | 769.74M | 678.54M | 626.11M |
| Stockholders Equity | 1.51B | 1.53B | 1.49B | 1.30B | 1.29B | 1.30B |
Cash Flow | ||||||
| Free Cash Flow | 139.19M | 97.78M | 25.90M | 16.20M | -1.74M | -65.37M |
| Operating Cash Flow | 275.41M | 210.17M | 169.48M | 138.31M | 80.17M | 16.14M |
| Investing Cash Flow | -131.22M | -107.39M | -165.14M | -148.23M | -71.21M | 112.05M |
| Financing Cash Flow | -126.76M | -96.72M | 29.57M | -49.34M | -25.61M | -7.18M |
Expro Group Holdings Technical Analysis
Positive
15.79
Price Trends
15.34
Positive
16.09
Negative
15.44
Positive
Market Momentum
0.25
Negative
53.28
Neutral
28.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XPRO, the sentiment is Positive. The current price of 15.79 is above the 20-day moving average (MA) of 15.57, above the 50-day MA of 15.34, and above the 200-day MA of 15.44, indicating a bullish trend. The MACD of 0.25 indicates Negative momentum. The RSI at 53.28 is Neutral, neither overbought nor oversold. The STOCH value of 28.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for XPRO.
Expro Group Holdings Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $2.72B | 41.01 | 6.70% | ― | 8.99% | -19.14% | |
76 Outperform | $4.86B | 14.02 | 32.92% | ― | 3.84% | 75.32% | |
69 Neutral | $1.79B | 88.81 | 1.37% | ― | -7.11% | -70.32% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
55 Neutral | $3.05B | 24.80 | 6.08% | 2.02% | 2.29% | -43.28% | |
50 Neutral | $2.58B | -19.61 | -8.39% | ― | 41.30% | -195.62% |
* Energy Sector Average
XPRO
Expro Group Holdings
15.95
5.53
53.07%
OII
Oceaneering International
48.78
27.01
124.07%
DNOW
Now
14.12
-0.76
-5.11%
LBRT
Liberty Energy
18.71
7.25
63.19%
NESR
National Energy Services Reunited
26.96
20.59
323.23%
Expro Group Holdings Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Expro Group Expands Revolving Credit to Enhance Liquidity
Positive
May 14, 2026
On May 8, 2026, Expro Group Holdings N.V. amended its senior secured revolving credit facility originally dated July 23, 2025, with DNB Bank ASA, London Branch, acting as agent and a syndicate of lenders. The amendment increases the revolving loan...
Business Operations and StrategyStock BuybackFinancial DisclosuresM&A Transactions
Expro to Acquire Enhanced Well Technologies, Reaffirms Outlook
Positive
May 5, 2026
On May 5, 2026, Expro announced a definitive agreement to acquire Norway-based Enhanced Well Technologies Group AS for about NOK 2 billion (approximately $215 million) in cash, adding managed pressure drilling solutions, an estimated $275 million ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.