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Provides well construction, well flow management and well intervention services to oil & gas operators worldwide.
Provides well construction, well flow management and well intervention services to oil & gas operators worldwide.
Formed in 2021 through the merger of Frank's International and Expro Group. Work is billed mostly for crews and equipment time and for specific jobs on wells, which makes sales depend on the number and complexity of offshore and international wells being drilled or serviced.
Moat: narrow (process know-how, installed base). Specialized well-intervention and flow-management technical expertise in complex/offshore wells.
Headquarters: Houston, Texas, United States · Founded: 1938 · Employees: 8,500
Size Expro (XPRO) is a United States Energy company (Oilfield Services/Equipment) with a market value of $1.47B, the 1999th largest of 3,117 United States companies the cockpit tracks. Shares closed at $13.19 on 6 Nov 2026.
Performance Over six months the shares fell 14.2%, against -15.6% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 20 in its peer set.
Growth Revenue fell 4.8% over the last twelve months (peer median +4.5%); the operating margin is 4.4% (peer median 7.1%).
Valuation It trades at 18.0× forward earnings against a peer median of 14.5× (7th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 14% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.7 points below its cost of capital (9.0% WACC).
Short interest Short interest is 6.2% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.58B | $1.61B | $1.71B | $1.51B | $1.28B |
| Revenue growth | — | -6% | +13% | +18% | — |
| Gross profit | $145M | $205M | $233M | $111M | $82.3M |
| EBITDA | $268M | $308M | $291M | $207M | $164M |
| Net income | $1.56M | $51.7M | $51.9M | -$23.4M | -$20.1M |
| Free cash flow | $107M | $97.8M | $25.9M | $16.2M | -$1.74M |
| Capital expenditure | $122M | $112M | $144M | $122M | $81.9M |
| Total debt | $352M | $169M | $203M | $111M | $94.7M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Expro XPRO | $1.47B | -14% | -5% | 4% | 18.0× | 13.9% |
| Schlumberger SLB | $73.7B | -6% | +5% | 14% | 17.2× | 7.3% |
| Halliburton HAL | $26.3B | -20% | +2% | 13% | 11.7× | -0.3% |
| Baker Hughes BKR | $47.5B | -25% | +4% | 12% | 17.4× | 10.0% |
| Weatherford International WFRD | $6.12B | -17% | -6% | 14% | 13.4× | -4.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | XPRO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.6% | -15.4% | 8th lowest of 21 |
| 6-month return | -14.2% | -15.6% | 8th highest of 20 |
| Distance from 52-week high | -31.4% | -38.9% | 6th highest of 21 |
| Revenue growth (TTM) | -4.8% | +4.5% | 9th lowest of 21 |
| Operating margin | 4.4% | 7.1% | 10th lowest of 21 |
| Forward P/E | 18.0× | 14.5× | 7th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 13.9% | 3.6% | 3rd most demanding of 13 |
| Growth delivered (Del g) | +18.9% | +9.7% | 5th highest of 13 |
| Hurdle (Req g minus delivered) | -5.0 pp | -7.7 pp | 5th most demanding of 13 |
| ROIC minus cost of capital | -5.7 pp | -3.6 pp | 8th lowest of 21 |
| EV / EBITDA | 6.2× | 6.9× | 7th cheapest of 16 |
| Net debt / EBITDA | 0.7× | 0.9× | 7th least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Expro XPRO | United States | $1.47B | -14% | -5% | 4% | 18.0× | 13.9% | +18.9% |
| BW Energy BWE.OL | Norway | $1.30B | -15% | -25% | 26% | 13.1× | n/a | n/a |
| Innovex International INVX | United States | $1.76B | -6% | +7% | 12% | 14.7× | 5.7% | +21.8% |
| Flowco FLOC | United States | $1.81B | -19% | +20% | 19% | 13.1× | 8.0% | +72.3% |
| Hornbeck Offshore Services HOS | United States | $1.18B | n/a | +2% | 8% | 8.6× | -1.1% | +12.0% |
| RPC RES | United States | $1.18B | -22% | +18% | 3% | 17.9× | 12.2% | +22.1% |
| Liberty Energy LBRT | United States | $1.95B | -64% | +14% | 2% | n/a | n/a | n/a |
| Jiangsu Hongtian Technology 603800.SS | China | $1.11B | -32% | -27% | -15% | 62.3× | 32.4% | +5.1% |
| National Energy Services Reunited NESR | United States | $2.01B | -14% | +24% | 9% | 9.9× | 1.2% | +9.7% |
| Flotek Industries FTK | United States | $886M | +45% | +59% | 13% | 21.9× | n/a | n/a |
| Total Energy Services TOT.TO | Canada | $851M | +41% | +22% | 9% | 9.7× | 3.7% | +23.8% |
| Bomesc Offshore Engineering 603727.SS | China | $823M | +6% | -12% | -7% | 249.4× | -9.1% | -6.1% |
| Forum Energy Technologies FET | United States | $800M | +30% | +11% | 7% | 12.9× | 3.5% | +9.1% |
| ProPetro PUMP | United States | $785M | -59% | -6% | 0% | 35.1× | n/a | n/a |
| Viridien VIRI.PA | France | $763M | -16% | -14% | 11% | 22.9× | -2.9% | +4.1% |
| Hunting HTG.L | United Kingdom | $714M | -25% | -12% | 7% | 14.3× | 17.8% | +9.6% |
| Toyo Engineering 6330.T | Japan | $711M | -16% | -31% | -10% | 14.2× | -2.1% | -0.1% |
| Waterbridge Infrastructure LLC WBI | United States | $3.06B | -9% | +103% | 17% | 40.2× | n/a | n/a |
| Shandong Molong Petroleum Machinery 002490.SZ | China | $704M | -33% | +51% | 0% | n/a | n/a | n/a |
| Atlas Energy Solutions AESI | United States | $678M | -71% | -4% | -11% | n/a | n/a | n/a |
| Haimo Technologies 300084.SZ | China | $667M | -31% | -7% | -12% | n/a | n/a | n/a |