Skip to Content

Expro Group Holdings NV XPRO

Morningstar Rating
$18.31 −0.55 (2.92%)
View Full Chart
Unlock our analysis with Morningstar Investor

Company Report

Expro Earnings: Offshore Market and Acquisition Synergies Support Profitable Growth

Expro Group reported strong 2023 fourth-quarter results, with total revenue growing 16% year on year, exceeding previous guidance by approximately 9%. Adjusted EBITDA grew 10% to $85 million, at the high end of the $75 million-$85 million guidance range. Its 70% sequential growth rate reveals Expro’s nearly full recovery from operational challenges, such as the light well intervention mishap, in the third quarter. Management released 2024 full-year revenue and adjusted EBITDA guidance of $1,650 million and $350 million at the midpoint, respectively. Both are in line with our estimates. We maintain our $22 fair value estimate and no-moat rating. We view High Uncertainty Expro Group as slightly undervalued.

Price vs Fair Value

XPRO is trading at a 17% discount.
Price
$18.31
Fair Value
$52.00
Uncertainty
High
1-Star Price
$18.80
5-Star Price
$99.50
Economic Moat
Xhrcg
Capital Allocation
Xptsgfpz

Bulls Say, Bears Say

Bulls

Expro’s combination with Frank’s will accelerate growth through cross-selling opportunities while geographic and end-market diversification will protect profitability against future cyclical downturns.

Bears

Customer loyalty only goes so far—should a competitor offer well construction products of similar quality at a lower price, it’s highly likely customers will switch tubing providers.

Is it the right time to buy, sell, or hold?
Start a free trial of Morningstar Investor to unlock exclusive ratings and continuous analyst coverage to help you decide if XPRO is a good fit for your portfolio.

News

Trading Information

Previous Close Price
$18.86
Day Range
$18.3018.94
52-Week Range
$14.3325.04
Bid/Ask
$17.47 / $22.29
Market Cap
$2.02 Bil
Volume/Avg
522,738 / 897,810

Key Statistics

Price/Earnings (Normalized)
49.93
Price/Sales
1.32
Dividend Yield (Trailing)
Dividend Yield (Forward)
Total Yield
0.99%

Company Profile

Expro Group offers products and services that span the well life cycle, including well construction, well flow management, well intervention and integrity, and subsea well access. It maintains operations around the world and specializes in offshore production solutions, capabilities enhanced by the 2021 merger with Frank’s International. It also provides production optimization for both onshore and offshore applications. The majority of its business relies on international and offshore markets, representing about 80% and 70% of annual revenue, respectively.
Sector
Energy
Industry
Oil & Gas Equipment & Services
Stock Style Box
Small Growth
Total Number of Employees
8,000

Competitors

Valuation

Metric
XPRO
BKR
HAL
Price/Earnings (Normalized)
49.9318.3911.20
Price/Book Value
1.551.913.33
Price/Sales
1.321.171.38
Price/Cash Flow
12.9611.348.00
Price/Earnings
XPRO
BKR
HAL

Financial Strength

Metric
XPRO
BKR
HAL
Quick Ratio
1.330.751.27
Current Ratio
1.741.252.06
Interest Coverage
6.3113.296.68
Quick Ratio
XPRO
BKR
HAL

Profitability

Metric
XPRO
BKR
HAL
Return on Assets (Normalized)
1.04%4.54%11.77%
Return on Equity (Normalized)
1.58%10.83%32.42%
Return on Invested Capital (Normalized)
1.68%8.24%18.20%
Return on Assets
XPRO
BKR
HAL
See how this stock stacks up to its competitors with Morningstar Investor

Oil & Gas Equipment & Services Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Economic Moat
Market Cap
SLB
Schlumberger LtdHxhbl$70.8 Bil
HAL
Halliburton CoWmxlrt$31.3 Bil
BKR
Baker Hughes Co Class ARzdy$29.5 Bil
TS
Tenaris SA ADRZvd$20.7 Bil
FTI
TechnipFMC PLCWpxgx$9.4 Bil
WFRD
Weatherford International PLC Ordinary Shares - NewQkq$7.6 Bil
NOV
NOV IncXpzdq$6.6 Bil
CHX
ChampionX CorpVrsr$6.0 Bil
LBRT
Liberty Energy Inc Class ARdmf$3.6 Bil

Sponsor Center