Screened 2026-09-16 · the tape above runs as of 21:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markdown label.
Expro Group Holdings N.V. holds its Markdown at $16.44. The statistical read favours the sellers, held for 189 days.
As held on the ledger · 2026-09-16
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 189 days
Price at the screen
$16.44
Valuation
91.33 trailing · 13.94 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.00
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
7.46%
Below 33%
Interest-bearing debt is just 7.5% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
29.79%
Below 49%
Money owed to the company is 29.8% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-16 screen. The gold marker is the market price at the same screen. The price runs 16.5% above the base estimate.
Third-party analyst targets: 4 covering, consensus None. The average target sits +6% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-16 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Oil services firm trading above its worth
Picture a rig crew waiting for the next price spike to keep the cash flowing. Expro sits in that exact spot, offering well construction and testing services across regions where activity tracks crude prices rather than steady demand. The business shows negative revenue growth, wafer-thin margins and returns on equity that barely register, while the shares sit above our fair value with no opportunity rating attached.
The forward multiple looks modest at first glance, yet the company is cycling through lower activity and the market is already pricing in a recovery that may not arrive on schedule. Analysts lean buy with a target near the current price, but that view overlooks how thin the returns remain even at current levels. The ethical screen clears without issue.
Cyclical businesses often flash low multiples right when earnings peak, and this one carries the classic warning signs of thin profitability and revenue already sliding. Any rebound would need sustained higher oil prices and fresh contracts that have yet to materialise in volume. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
XPRO trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-17Markdown · changed$16.44-10.7%Entry 5
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 10.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 0% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (5 analysts) rates it hold, with a mean price target of $18.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 11.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 0% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (5 analysts) rates it hold, with a mean price target of $18.
2026-07-18Distribution$16.46+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 0% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (5 analysts) rates it hold, with a mean price target of $18.
2026-07-03Distribution$16.46+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Distribution$16.46Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
