Expro Group Holdings N.V. (XPRO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+89.0%

$31.23

vs $16.52 price

Levered DCF

$32.39

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.3

Grey zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	29.67×	27.71×	-75.81×	-100.72×	-8.75×	-3.8×	-17.93×	-78.3×
P/B	1×	0.96×	1.34×	1.54×	0.89×	1.9×	1.44×	6.78×
P/S	0.96×	0.84×	1.15×	1.55×	1.4×	1.73×	2.01×	13.43×
EV / EBITDA	5.34×	5.29×	8.6×	11.51×	60.22×	-5.94×	-8.42×	388.32×
Gross margin	12.8%	13.6%	7.3%	6.4%	0.1%	-0.8%	12.1%	11.7%
Operating margin	7.2%	7.4%	2.3%	1.9%	-8.9%	-4.3%	-8.7%	-18.1%
Net margin	3.2%	3.0%	-1.5%	-1.6%	-16.0%	-45.5%	-40.6%	-17.4%
Current ratio	2.16×	1.99×	1.74×	1.98×	2.31×	1.91×	3.62×	3.79×
Debt / equity	0.15×	0.14×	0.09×	0.07×	0.09×	0.15×	0.04×	0.01×
Interest coverage	8.11×	10.19×	8.87×	99.2×	-8.32×	-5.19×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	3.4%	3.5%	-1.8%	-1.6%	-10.2%	-50.2%	-29.0%	-8.8%
Return on invested capital	3.6%	3.5%	-2.4%	-1.5%	-4.5%	-3.4%	-5.8%	-8.6%
Return on assets	2.2%	2.2%	-1.1%	-1.0%	-6.9%	-28.9%	-23.7%	-7.6%
Free cash flow yield	6.4%	1.8%	0.9%	-0.1%	-5.7%	-3.6%	-0.9%	-1.3%
Earnings yield	3.4%	3.6%	-1.3%	-1.0%	-11.4%	-26.3%	-20.2%	-1.3%
Enterprise value	$1.6B	$1.4B	$1.7B	$1.9B	$1B	$1.1B	$1B	$6.8B
Net debt / EBITDA	0.09×	0.07×	-0.21×	-0.77×	-7.6×	0.16×	1.38×	-10.26×
Cash conversion cycle (days)	133	120	119	143	168	110	149	162