Restructuring and cost reductionsnegative · 4 filings
“The decrease in severance and other expense was primarily attributable to less restructuring activity across all segments.”10-Q · May 5, 2026 ↗
Expro Ltd
XPRO
Market read
Expro Ltd's current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
Company+0.1% todayVolume comparison unavailable
Market group0 of 1 activeWell Services Equipment · unavailable
Disclosed network0 of 2 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- XPRO's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if XPRO's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- XPRO's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods6
Price observations320
Usable filing statements120
Verified relationships2
Evidence supporting the case
- Operating cash flow covered net income at 4.07x in the latest annual period.
Evidence challenging the case
- Latest annual revenue changed -6.2% year over year.
- Restructuring and cost reductions has repeated adverse evidence across 4 filings.
- Capital investment and capacity has repeated adverse evidence across 3 filings.
- Foreign exchange has repeated adverse evidence across 3 filings.
Questions before a position
- P/E is 18% above the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 20% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 11, 2026
17.566m+0.6%12m+39.8%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$825.8M+69.4%——
2022-12-31$1.3B+54.9%$-0.18-38.2%
2023-12-31$1.5B+18.2%$-0.21+0.1%
2024-12-31$1.7B+13.2%$0.45+6.1%
2025-12-31$1.6B-6.2%$0.45-0.1%
What management says matters
Persistent and emerging business drivers
Capital investment and capacitynegative · 3 filings
“The decrease in net cash used in investing activities was primarily due to a decrease in capital expenditures spending during the three months ended March 31, 2026.”10-Q · May 5, 2026 ↗
Foreign exchangemixed · 3 filings
“The change was primarily due to favorable changes in various exchange rates and higher activity in jurisdictions with local currencies that appreciated relative to the U.S.”10-K · Feb 19, 2026 ↗
Demand and volumemixed · 2 filings
“As a result of these supply-demand dynamics, inventories are expected to build from the fourth quarter, placing downward pressure on prices into 2026.”10-Q · Oct 23, 2025 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.3× · EV/sales 1.2×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
17.56+0.1% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for XPRO. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for XPRO. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind XPRO
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depended on by
HLXHelix Energy Solutions Group, Inc.competitorFeb 26, 2026 ▾
“Our principal competitors in well intervention are international drilling contractors and also include AKOFS Offshore, Baker Hughes, C-Innovation, Expro, Oceaneering, TechnipFMC, Trendsetter and Well-Safe Solutions.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 6 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
XPRO is currently a Leader in the organic co-movement group Well Services Equipment. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for XPRO; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.