Is Expro Group Holdings NV overvalued or undervalued?

As of 19 September 2025, Expro Group Holdings NV moved from expensive to fair, indicating a more favorable valuation stance. The company is currently fairly valued, with a P/E ratio of 11, a Price to Book Value of 0.69, and an EV to EBITDA ratio of 3.35. In comparison to peers, Antero Resources Corp. has a P/E of 17.26, while Magnolia Oil & Gas Corp. has a P/E of 14.28, highlighting that Expro is positioned more attractively within its industry.
Despite its fair valuation, Expro has underperformed against the S&P 500 across multiple time frames, with a one-year return of -33.04% compared to the S&P 500's 16.64%. This stark contrast in performance suggests that while the stock may be fairly valued, investor sentiment and market dynamics have led to significant underperformance relative to broader market indices.