Endur ASA (ENDUR) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Endur ASA NOK 103, price NOK 111, upside -6.5%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range kr 19.87 – kr 125.00 · fair‑value band kr 72.38 – kr 134.43 · the kr 110.60 price screens above the kr 103.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Endúr ASA operates as a Scandinavian infrastructure contractor headquartered in Lysaker and listed on the Oslo Stock Exchange. The company focuses on critical infrastructure projects, including bridges, quays, tunnels, and dams.
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Endúr ASA operates as a Scandinavian infrastructure contractor headquartered in Lysaker and listed on the Oslo Stock Exchange. The company focuses on critical infrastructure projects, including bridges, quays, tunnels, and dams. The company follows an acquisition-driven growth strategy supported by a decentralized operating model that allows subsidiaries to retain operational autonomy, technical expertise, and strong local market positions. It also aims to create long-term value through strategic platform acquisitions and targeted bolt-on investments in fragmented niche markets. Endúr ASA is headquartered in Lysaker, Norway.
Stock analysis
Endur ASA (ENDUR) currently trades at kr 110.60, while our model-based Fair Value estimate is kr 103.41, implying the stock looks roughly 7.0% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 286.09 per share, and 14 of the 24 models we run sit above the kr 110.60 price.
Bear case: the Asset-Based group reads lowest at kr 30.72, and 10 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 72.38 (bear) to kr 134.43 (bull), the price of kr 110.60 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 42/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Endur ASA reported revenue of 6.4B NOK in FY2025 versus 2.0B NOK in FY2021, a compound +33.7%/yr. Reported net income was 134M NOK in FY2025.
Key figures
Market cap 5.6B NOK (≈ $586M) · P/E ratio 40.8 · P/S ratio 0.85 · EPS (TTM) kr 2.71 · Dividend yield 0.7% · Net margin 2.1% · Return on equity 7.8% · Return on assets (EBIT) 3.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 35% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at −7%, ENDUR screens cheaper than that median.
Fair Value models
Bear kr 72.38Fair Value kr 103.41Bull kr 134.43
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 1.40 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+131.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+36.7%
Revenue growth 18 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.1%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−3,132.7% (2020) → 5.0% (2025)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−10.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+11.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (Norway: IMF forecast 2.4% a year to 2030, 3.3% from 2016 to 2025) that is about −12.3% a year for the price and +9.0% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 836 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score42 · Below median
Fair Value upside−7% · Below median
Profitability
Return on equity (TTM)8% · Above median
Return on assets4% · Above median
Net margin (TTM)2% · Below median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth102% · Top 25%
Dividend yield (TTM)0.7% · Bottom 25%
Balance sheet
Debt / equity0.46× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (TTM)40.8× · Priciest 25%
P/B2.37× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Endur ASA Fair Value". https://www.fairvalue-calculator.com/stock/ENDUR
Frequently asked questions
Is Endur ASA (ENDUR) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 103.41 versus a price of kr 110.60, about −7% upside (fairly valued).
What is the fair value of ENDUR?
Our model-based fair value for Endur ASA is kr 103.41 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 110.60.
What is the quality score of ENDUR?
Endur ASA has a Quality Score of 42/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Endur ASA (ENDUR)?
Our model-based price target is the fair value of kr 103.41 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario kr 72.38, optimistic scenario kr 134.43. It is a calculation from audited fundamentals, not an analyst target.
What is the Endur ASA stock forecast for 2026?
Our models put fair value at kr 103.41, about −7% upside versus a price of kr 110.60 (fairly valued). Cautious scenario kr 72.38, optimistic scenario kr 134.43. The calculation is refreshed regularly with new filings.
What is the revenue of Endur ASA (ENDUR)?
Endur ASA reported trailing-twelve-month revenue of about 7.3B NOK (latest available figure, as of Sep 24, 2026).
Does Endur ASA pay a dividend?
Endur ASA currently shows a dividend yield of about 0.72% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Endur ASA (ENDUR)?
For today's price to be fair in a discounted-cash-flow model, Endur ASA would have to grow free cash flow by -10.1 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +229.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of ENDUR use?
Our models discount Endur ASA at 9.6 %: a base by market capitalisation (small), damped by beta 0.44, country premium for Norway. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Endur ASA that is -10.1 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Endur ASA (ENDUR) delivered so far?
Over the past 5 years revenue at Endur ASA grew +229.6 % a year. The price currently implies -10.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Endur ASA (ENDUR) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Endur ASA (-10.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Endur ASA (ENDUR)?
The free-cash-flow yield on the price is 17.47 %: that much free cash flow Endur ASA produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Endur ASA (ENDUR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Endur ASA it is kr 103.41 per share (as of Sep 24, 2026), against a price of kr 110.60. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Endur ASA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ENDUR trades above its calculated fair value: price kr 110.60, fair value kr 103.41, a gap of about −7% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ENDUR?
No. The price is what the market pays today (kr 110.60); the fair value is what the company's own numbers justify (kr 103.41). For Endur ASA the two are kr 7.19 per share apart. That gap is exactly why we show both numbers side by side.
How much is Endur ASA worth?
The market values Endur ASA at about 5.6B NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 110.60; our models calculate a fair value of kr 103.41 per share.
What do the bullish and bearish scenarios say about ENDUR?
Our models span a range for Endur ASA: cautious scenario kr 72.38, base kr 103.41, optimistic kr 134.43 per share (as of Sep 24, 2026, price kr 110.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ENDUR?
Endur ASA trades at a price-to-earnings ratio of 40.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 103.41 is built from several models across several years. Other multiples: P/B 2.4, P/S 0.8, EV/EBITDA 9.6.
How solid is the balance sheet of Endur ASA (ENDUR)?
Balance-sheet figures for Endur ASA (as of Sep 24, 2026): return on equity 7.8%, debt of 0.46 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is ENDUR from its 52-week high?
Endur ASA trades at kr 110.60, about 12% below its 52-week high of kr 125.00 and 35% above the low of kr 81.87 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 103.41 is for.
Which stocks are comparable to Endur ASA?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Endur ASA stock attractive at the current price?
The data as of Sep 24, 2026: price kr 110.60, calculated fair value kr 103.41 (−7%), Quality Score 42/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ENDUR calculated?
We run Endur ASA through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 103.41, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Endur ASA itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Endur ASA (ENDUR)?
The closing price on Sep 23, 2026 was kr 110.60. Our model-based fair value is kr 103.41, about −7% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Endur ASA right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (kr 72.38 to kr 134.43) leaves room in how you read the outcome.
Key figures of Endur ASA
How large is the market capitalisation of Endur ASA (ENDUR)?
The market capitalisation of Endur ASA is 5.6B NOK (≈ $586M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Endur ASA (ENDUR)?
The price-to-sales ratio of Endur ASA is 0.85 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Endur ASA (ENDUR)?
Earnings per share at Endur ASA are kr 2.71 (price ÷ EPS = P/E 40.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Endur ASA (ENDUR)?
The dividend yield of Endur ASA is 0.7% (payout 29.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Endur ASA (ENDUR)?
The net margin of Endur ASA is 2.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Endur ASA (ENDUR)?
The return on equity (ROE) of Endur ASA is 7.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Endur ASA (ENDUR)?
On an EBIT basis the return on assets of Endur ASA is 3.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Endur ASA (ENDUR)?
The operating margin of Endur ASA is 3.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Endur ASA (ENDUR)?
Revenue at Endur ASA is growing +102% versus a year earlier (3y avg +36.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Endur ASA (ENDUR)?
Earnings per share at Endur ASA are growing +42.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Endur ASA (ENDUR) carry?
The net debt of Endur ASA is 467M NOK (fiscal year 2024, ≈ 0.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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