MARKET WIREYahoo Finance • 22h ago
Expro (XPRO) Stock May Sit Above Fair Value On Earnings PowerYahoo Finance report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
Why XPRO Stock dropped -8.05% Today — RQD Quant Desk Flash
$15.87 -8.05% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot)
EXT / AFTER-HRS: $15.61
Expro Ltd (XPRO) carries a Roarable Rating of D+ (Sell) with 57/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.
ROARABLE D+ • SELL / AVOID
Cap $1.96B
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER
Click Any Pre-Computed AI Quant Specialist Briefing on XPRO Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief)
Is XPRO stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
▼
As of 2026-11-03, Expro Ltd (NYSE: XPRO) is rated D+ (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 57/100 at a spot price of $15.87 (-8.05% 1D, market cap $1.96B). Pillar breakdown: Fundamental Cash Engine 10/20, Institutional 13F & Options Flow 13/20, SEC Balance-Sheet Forensics 13/20, FRED Macro Regime Fit 12/20, and Executive Insider Alignment 9/20. Across 211 tracked Energy issuers, XPRO ranks #106 in composite RQD confidence.
✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief)
How does XPRO compare to NESR and HOS in the Energy sector?
▼
Within the Energy sector (Oilfield Services/Equipment), XPRO carries a Roarable D+ (57/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of —. By comparison, NESR (National Energy Services Reunited Corp) holds a D+ grade (52/100 RQD, P/E 42.3x, ROIC 7.5%, cap $2.15B) and HOS (Hornbeck Offshore Services Inc.) posts a D grade (46/100 RQD, P/E 51.7x, ROIC 3.5%, cap $1.57B). Among the 5-stock peer group, LBRT leads on earnings multiple (19.2x) while NESR leads on capital efficiency (7.5% ROIC).
✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief)
What are the biggest fundamental strengths and SEC risk factors for XPRO?
▼
Per XPRO's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0002126198), Expro Ltd generated $949.0M in revenue, $0 in net income, and $0 in free cash flow against $2.26B in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Energy with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.
✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
EXT / AFTER-HRS: $15.61 (-1.64%)🧬 Disciplined Float (-0.40% YoY Shares)⚙️ Cash Engine: 10/20 (D) • 5.8% FCF Margin
Verify 90D Bucket Audit →📊 Historical Track Record: Scores of 57/100 (D+) historically posted market-perform odds over rolling 90-day windows (-0.2% avg 90D alpha vs SPY • 52.2% hit rate — wait for RQD ≥ 70 breakout).
Audit Bucket Track Record →RQD QUANT TACHOMETERSELL / AVOID • D+
JEV AI Jury Split (Battleground)
Cash
SEC
Whale
Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer
5-PILLAR SNOWFLAKE RADARRw D+ · Rk C
Each axis scored 0–20
12M PRICE TARGET CONE-0.4% Base Target
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for XPRO)Realized 20D OHLCV Swing Band: ±9.8%
Deterministic 5-Pillar Attribution (57/100 Composite)
🔍 WHY XPRO SCORES 57/100 (D+) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: Whale & Options Positioning+13/20 pts (23% of score)
20D Institutional Volume Accumulation (±9.8% realized swing band)
▲ #2 Bullish Driver: SEC 10-K Forensic Risk+13/20 pts (23% of score)
Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 7/9
▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution9/20 pts (-11 pt drag)
Disciplined Float (-0.40% YoY Shares) & executive Form 4 sales trim 11 pts from alignment
📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)Grade C+$16.41-0.3% Next Q
65
Q2 (-2Q)Grade C+$16.36+6.8% Next Q
62
Q3 (-1Q)Grade C$17.48-9.2% Next Q
60
CurrentGrade D+$15.87-0.2% Hist 90D α
57
Trajectory: C+ (65) → D+ (57)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER
⚔️ Adversarial Opposing Case: Why the XPRO Bull Thesis Could Fail
Even with a 57/100 (D+) score, XPRO faces multiple-compression risk if current valuation multiples re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.
⚠️ Forensic Kill-Switch #1
Company executives have done more routine share selling than personal cash buying lately.
⚠️ Forensic Kill-Switch #2
Dilution & Margin Drag: Disciplined Float (-0.40% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.
⚠️ Forensic Kill-Switch #3
Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($16.88) or 200D SMA ($16.51) invalidates the momentum regime and cuts Target Base ($15.80) toward Bear Floor ($12.32).
🎲 LIVE PREDICTION MARKET ODDS TIED TO $XPRO• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “XPRO Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
AUTOMATED RQD QUANT DESK MOVER BRIEFINGFull Market News Desk →
Why XPRO Stock dropped -8.05% Today — RQD Quant Desk Flash
Expro Ltd (XPRO) dropped -8.05% to $15.87, trading at 51% of its 52-week range ($12.44 – $19.23). Stretched risk/reward at current multiples (steady margins) under elevated 10-year interest-rate pressure.
- ▸Technical Tape: Trading at 51% of its 52-week range ($12.44 – $19.23) with RSI-14 at 55.7 (BULLISH MOMENTUM).
- ▸Volatility Profile: Historical 20-day realized swing band of ±9.8% around $15.87 (no active unusual options sweep snapshot on file).
- ▸Fundamental Anchor: Roarable D+ (Sell) backed by 52% gross margin and $54.8M annual free cash flow.
Live XPRO Headlines & Catalysts
MARKET WIRETradingView • 1d ago
What to expect from Expro’s (XPRO) Q3 earningsTradingView report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
MARKET WIREYahoo Finance • 1d ago
Oilfield Services Stocks Q2 Recap: Benchmarking Expro (NYSE:XPRO)Yahoo Finance report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
MARKET WIRESimply Wall St • 1d ago
Expro (NYSE:XPRO) Stock Forecast & Analyst PredictionsSimply Wall St report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
MARKET WIREMarketBeat • 1d ago
Expro Group (NYSE:XPRO) Stock Price Up 4% - Still a Buy?MarketBeat report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
CATALYSTThe Chronicle-Journal • 1d ago
Expro and Noble Corporation Shares Are Soaring, What You Need To KnowThe Chronicle-Journal report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
MARKET WIREStock Titan • 1d ago
BlackRock reports a passive stake above 5% in Expro (XPRO).Stock Titan report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
MARKET WIREKalkine Media • 1d ago
What Is Driving Expro (NYSE:XPRO) Group’s Latest Share Move?Kalkine Media report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
MARKET WIREYahoo • 10d ago
3 small-cap stocks we find riskyInvestors looking for hidden gems should keep an eye on small-cap stocks because they’re frequently overlooked by Wall Street. Many opportunities exist in this part of the market, but it is also a high-risk, high-reward
MARKET WIREBenzinga • 11d ago
Imperial Oil shares are trading lower after the company reported worse-than-expected Q4 sales results.ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk
Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring XPRO)
- ✓Walkthrough of XPRO's RQD Radar, SEC cash-conversion gap & downside invalidation levels
- ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
- ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
Want Custom AI PineScript / Python Indicators & Priority Rating-Change Alerts?
XPRO // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -12.13%📐 WEDGE COMPRESSION COIL
2026-11-03O $17.35H $17.35L $15.87C $15.87VOL 620.0K
RES: $17.74SUP: $15.22SMA50: $16.88SMA200: $16.51
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK
XPRO Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure
Share Count & Dilution Monitor
Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).
Reverse-DCF Expectations Hurdle
8.0%/yr Implied 5Y Growth
vs. +6.0% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).
Ellis Vennor Setup Ledger
No active Ellis Vennor swing setup published on XPRO today. View full Setup Ledger →
🦋 Documented & Second-Order Butterfly Connections
Open Graph →
No direct multi-tier Butterfly edges indexed yet for XPRO. Explore sector supply chains on /butterfly.
AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for XPRO today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK
📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (XPRO)
Energy Rank #106 of 211
⚔️ NESR vs XPRO Full Matrix →
1. Head-to-Head Energy Peer Comparison (XPRO vs. NESR, HOS, WTTR, LBRT)
Industry: Oilfield Services/Equipment (20 Tracked Issuers)Across 211 tracked Energy securities in the Roarable RQD universe, Expro Ltd (XPRO) ranks #106 by composite RQD confidence (57/100, grade D+) and #121 by equity capitalization ($1.96B). Within this direct 5-issuer industry benchmark cohort, LBRT leads on earnings valuation at 19.2x trailing P/E, while NESR leads on capital efficiency and profitability with 7.5% ROIC and 12.4% gross margin. XPRO currently leads its immediate peer cohort in composite quantitative strength at 57/100 (D+).
| Ticker / Company | Roarable Grade | RQD Score | Trailing P/E | Gross Margin | ROIC | 1D Change | Market Cap | Head-to-Head |
|---|---|---|---|---|---|---|---|---|
| XPRO
ACTIVE
Expro Ltd | D+ | 57/100 | — | — | — | -8.05% | $1.96B | Benchmark Subject |
| NESR National Energy Services Reunited Corp | D+ | 52/100 | 42.3x | 12.4% | 7.5% | -1.59% | $2.15B | /nesr-vs-xpro → |
| HOS Hornbeck Offshore Services Inc. | D | 46/100 | 51.7x | 12.3% | 3.5% | -8.90% | $1.57B | /hos-vs-xpro → |
| WTTR Select Water Solutions Inc. (Class A) | D | 44/100 | 130.0x | 14.4% | 2.1% | -7.45% | $2.73B | /wttr-vs-xpro → |
| LBRT Liberty Energy Inc. (Class A) | D | 50/100 | 19.2x | 20.9% | 2.5% | -13.03% | $2.75B | /lbrt-vs-xpro → |
2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2025–FY2025)
SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0002126198 ↗In its most recent audited fiscal period (FY2025, filed 2025-12-31), Expro Ltd (XPRO) reported GAAP revenue of $949.0M , GAAP net income of $0, operating cash flow of $0, and free cash flow of $0 . On the balance sheet, XPRO closed FY2025 with $2.26B in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: N/A).
| Fiscal Period | Filing Date | Revenue | Net Income | Operating Cash Flow | Free Cash Flow | Total Assets | Total Debt |
|---|---|---|---|---|---|---|---|
| FY2025 (FY) | 2025-12-31 | $949.0M | $0 | — | — | $2.26B | — |
3. XPRO Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)
✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLEDIs XPRO stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
As of 2026-11-03, Expro Ltd (NYSE: XPRO) is rated D+ (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 57/100 at a spot price of $15.87 (-8.05% 1D, market cap $1.96B). Pillar breakdown: Fundamental Cash Engine 10/20, Institutional 13F & Options Flow 13/20, SEC Balance-Sheet Forensics 13/20, FRED Macro Regime Fit 12/20, and Executive Insider Alignment 9/20. Across 211 tracked Energy issuers, XPRO ranks #106 in composite RQD confidence.
How does XPRO compare to NESR and HOS in the Energy sector?
Within the Energy sector (Oilfield Services/Equipment), XPRO carries a Roarable D+ (57/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of —. By comparison, NESR (National Energy Services Reunited Corp) holds a D+ grade (52/100 RQD, P/E 42.3x, ROIC 7.5%, cap $2.15B) and HOS (Hornbeck Offshore Services Inc.) posts a D grade (46/100 RQD, P/E 51.7x, ROIC 3.5%, cap $1.57B). Among the 5-stock peer group, LBRT leads on earnings multiple (19.2x) while NESR leads on capital efficiency (7.5% ROIC).
What are the biggest fundamental strengths and SEC risk factors for XPRO?
Per XPRO's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0002126198), Expro Ltd generated $949.0M in revenue, $0 in net income, and $0 in free cash flow against $2.26B in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Energy with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.
Where is XPRO trading relative to its 50-day, 200-day, and 52-week technical levels?
XPRO last traded at $15.87 (-8.05% on volume of 1,603,444 shares), positioning the stock -5.98% below its 50-day simple moving average ($16.88) and -3.88% below its 200-day simple moving average ($16.51). Across its 52-week range of $12.44 to $19.23, XPRO sits at the 50.5% percentile with a 14-day RSI of 55.7 (BULLISH MOMENTUM) and an implied next-earnings move of ±9.8% ($14.31 to $17.43).
ROARABLE RATING BRIEF • RQD 57/100 (D+)
✓ SEC XBRL & RQD VERIFIED
XPRO — Expro Ltd: What the Facts Mean to a Prospective Investor
Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31
1. Roarable Rating Brief: What This Means to a Prospective Investor
Expro Ltd (XPRO) earns a live Roarable RQD composite score of 57/100, corresponding to a D+ letter grade (Roarable Sell) at a spot price of $15.87 (-8.05% 1D, market capitalization $1.96B).
- Fundamental Cash Engine (10/20): Anchored by return on invested capital (ROIC) of —, gross margin of —, operating margin of —, and free cash flow yield of —.
- Whale 13F & Options Flow (13/20) + Insider Conviction (9/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
- Macro Regime Fit (12/20) + Forensic Balance Sheet (13/20): Incorporates a 1.00x equity beta, Altman Z-Score of N/A, Piotroski F-Score of N/A, and Debt/Equity of N/A.
2. Business Model, Unit Margins & SEC Financial Trajectory
Expro Ltd (XPRO) is a NYSE-listed issuer in the Energy sector, specifically the Oilfield Services/Equipment industry,. The profile places the company with a market capitalization of $2.0B.
In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Expro Ltd (XPRO) reported $949.0M in annual revenue and $0 in GAAP net income. Operating cash flow reached $0 and free cash flow totaled $0, backed by $2.26B in total assets against $0 in total debt.
3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff
- 🐂 Primary Bull Case (D+ • RQD 57/100): Established market leader in Energy with deep daily trading liquidity. Free cash flow yield of — and institutional whale pillar of 13/20. With Fundamental Cash Engine at 10/20 and Institutional Whale Flow at 13/20, sustained execution supports upside toward the upper end of the $12.44 – $19.23 52-week range.
- 🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh current valuation against — operating margins and a 1.00x macro beta.
4. 2nd-Order Butterfly Ripples & Key Questions to Watch
Upstream and downstream dependencies are therefore — Sector is Energy and industry is Oilfield Services/Equipment. The one sector-level connection in the source is the news wire's Noble Corporation reference in the catalyst headline, which hints at a peer relationship, but the source does not describe the nature of that relationship.
- Key Question #1: Can XPRO sustain or expand its — operating margin and — ROIC against Oilfield Services/Equipment peers over the next 4 quarters?
- Key Question #2: Following FY2025 revenue of $949.0M and free cash flow of $0, how will capital allocation balance growth reinvestment against $0 in total debt?
- Key Question #3: How sensitive is XPRO's equity valuation to Energy capital spending cycles and macro interest-rate shifts (Beta 1.00x)?
XPRO Live News Feed, Press Releases & Catalyst Wire
Real-time company headlines, analyst actions, and sector developments for Expro Ltd (XPRO) • Click "Debate This Headline" to argue it in the Roar Pit below
🟡 MARKET WIRE Yahoo Finance • 22h ago
Expro (XPRO) Stock May Sit Above Fair Value On Earnings Power Yahoo Finance report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
🟡 MARKET WIRE TradingView • 1d ago
What to expect from Expro’s (XPRO) Q3 earnings TradingView report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
🟡 MARKET WIRE Yahoo Finance • 1d ago
Oilfield Services Stocks Q2 Recap: Benchmarking Expro (NYSE:XPRO) Yahoo Finance report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
🟡 MARKET WIRE Simply Wall St • 1d ago
Expro (NYSE:XPRO) Stock Forecast & Analyst Predictions Simply Wall St report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
🟡 MARKET WIRE MarketBeat • 1d ago
Expro Group (NYSE:XPRO) Stock Price Up 4% - Still a Buy? MarketBeat report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
🟢 CATALYST The Chronicle-Journal • 1d ago
Expro and Noble Corporation Shares Are Soaring, What You Need To Know The Chronicle-Journal report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
🟡 MARKET WIRE Stock Titan • 1d ago
BlackRock reports a passive stake above 5% in Expro (XPRO). Stock Titan report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
🟡 MARKET WIRE Kalkine Media • 1d ago
What Is Driving Expro (NYSE:XPRO) Group’s Latest Share Move? Kalkine Media report covering Expro Ltd (XPRO) market action, institutional positioning, and fundamental catalysts.
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE
3 Active Posts & Replies
XPRO Bull vs. Bear Conversation Board — What's Your Call at $15.87?
🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON XPRO 🐻 33% BEARISH CONVICTION
BR BreakoutHunter RQD DEBATE OPENER • Swing & Catalyst Trader 🐂 BULLISH
🎯 Target: $20.71 (+20.0%)
📌 Pinned Debate The forensic balance sheet pillar scores 13 of 20 with Altman Z 2.5, Piotroski F 6/9, and Debt/Equity 0.5, and the company reports $196
Long XPRO at $17.26 targeting $20.71. The forensic balance sheet pillar scores 13 of 20 with Altman Z 2.5, Piotroski F 6/9, and Debt/Equity 0.5, and the company reports $196.1M in cash.. Institutional whale score is 13/20 and the risk/reward vs. the $12.44 52-week low is skewed heavily in favor of bulls.
ArenaChamp_24 🐂 BULL
@BreakoutHunter Agree on the RQD 57/100 quality, though with 1.0 beta I'm scaling in with half-size at $17.26 and keeping dry powder in case we test $16.05.
FO ForensicBear RQD DEBATE OPENER • 10-K Footnote Auditor 🐻 BEARISH
🎯 Target: $14.50 (-16.0%)
Spot @ $17.26 ROIC of 0% and FCF yield of 0% leave the Fundamental Cash Engine pillar at only 10 of 20, with the insider conviction pillar at 9 of 20
Here is the bear case nobody on the bull side wants to address on XPRO: ROIC of 0% and FCF yield of 0% leave the Fundamental Cash Engine pillar at only 10 of 20, with the insider conviction pillar at 9 of 20.. At current EV/EBITDA multiples, even a small guidance miss in Oilfield Services/Equipment triggers a 12-15% air pocket.