Expro Ltd (XPRO) stock analysis

P/E above its 5-year median

Expro's P/E of 74.9 is above its own 5-year median of 30.0.

P/E above the industry

Expro's P/E of 74.9 is above the Oil and Gas Field Services median of 18.9.

EV/EBITDA below its 5-year median

Expro's EV/EBITDA of 5.4 is below its 5-year median of 8.0.

P/B below the industry

Expro's price-to-book of 1.01 is below the Oil and Gas Field Services median of 1.29.

Trading above fair value

The share price of $13.49 is above our fair value estimate of $10.60.

Margin of safety under 20%

The price is 27.3% above fair value, so there is no margin of safety.

Revenue growing under 10% a year

Revenue grew 7.9% a year over the last three fiscal years, short of the 10% we look for.

EPS growth over 3 years

Needs positive EPS three years ago and today.

Earnings acceleration

Needs positive net income now, a year ago and five years ago.

Growing slower than the industry

Revenue grew -7.1% over the last twelve months; the Oil and Gas Field Services median is 4.6%.

Guidance raised

Expro raised its Full Year Ended December 31, 2026 Adjusted free cash flow outlook on Nov 3, 2026.

Gross margin slipping

Gross margin was 22.4% over the last twelve months, against 23.3% a year earlier.

Return on equity under 15%

Return on equity was 1.4% over the last twelve months and averaged -2.0% over five years; we look for 15% on both.

Return on capital under 10%

Return on invested capital was 2.0%, below the 10% that usually covers the cost of capital.

Return on equity above the industry

Expro's return on equity of 1.4% is above the Oil and Gas Field Services median of 1.2%.

Earnings over 5 years

Needs positive net income five years ago and in the latest year.

Net margin above its 5-year average

Net margin was 1.3% over the last twelve months, against a 5-year average of -2.6%.

Net margin above the industry

Expro's net margin of 1.3% is above the Oil and Gas Field Services median of 0.9%.

No debt

Expro has no borrowings on its latest balance sheet.

Debt not rising

With no debt today, leverage cannot have risen.

Debt covered by cash flow

There is no debt to cover.

Interest well covered

No meaningful interest expense to cover.

Short-term assets cover short-term debts

Current assets are 2.05 times current liabilities.

Bankruptcy risk in the grey zone

The Altman Z-score is 1.94; above 3 is the safe zone and below 1.8 the distress zone.

No dividend

Expro has not paid a dividend in the last twelve months.

Yield against Treasuries

No dividend.

Yield against the market

No dividend.

Dividend stability

No dividend.

Earnings cover

No dividend.

Cash-flow cover

No dividend.