Expro Group Holdings N.V.
XPRO Energy Oil & Gas Equipment & Services
Expro Group Holdings N.V.’s revenue for fiscal 2025 (year ended December 2025) was $1.6 billion, down 6.17% from fiscal 2024. In the quarter to June 2026, revenue fell 6.99%, EPS fell 88.8%, free cash flow grew 56.1% and total debt fell 32.4%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
Follow XPRO
Expro Group Holdings N.V. (XPRO) Altman Z-score
Expro Group Holdings N.V.'s Altman Z-score for fiscal 2025 is 2.08, in the grey zone (1.81–2.99).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.08 | 0.26 |
| FY2024 | 1.82 | (0.22) |
| FY2023 | 2.04 | (0.31) |
| FY2022 | 2.35 | 1.01 |
| FY2021 | 1.34 | 0.39 |
| FY2020 | 0.95 | (6.89) |
| FY2019 | 7.85 | 2.87 |
| FY2018 | 4.97 | (1.42) |
| FY2017 | 6.39 | 1.02 |
| FY2016 | 5.37 | (2.10) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.23 | — | 0.27 | |
| Retained earnings / total assets | (0.21) | — | −0.29 | |
| EBIT / total assets | 0.04 | — | 0.12 | |
| Market value of equity / total liabilities | 2.12 | — | 1.27 | |
| Sales / total assets | 0.71 | — | 0.71 | |
| Altman Z-score | Grey zone | 2.08 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.28 | ||
Z and Z″ put Expro Group Holdings N.V. in different zones: grey zone by Z, safe zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| INVX Innovex International, Inc. compare | 6.3× |
| RES RPC, Inc. compare | 4.6× |
| XPRO Expro Group Holdings N.V. | 2.1× |
| NESR National Energy Services Reunited compare | 2.0× |
| WTTR Select Water Solutions, Inc. compare | 2.0× |
| HOS Hornbeck Offshore Services Inc compare | 1.6× |
| FLOC Flowco Holdings Inc. compare | 1.2× |
| AESI Atlas Energy Solutions Inc. compare | 1.2× |
| NEXT NextDecade Corporation compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets