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Endúr ASA (ENDUR) Fair Value & Analysis

Industrials · NO · Market cap 5.8B NOK

EA Endúr ASA ENDUR · OL
Pricekr 118.60
Fair Valuekr 100.22
Upside-15.5%
Quality42/100
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Mixed Growth
Thin margins · 2.5% net margin
Low debt · generates free cash flow
0.70% dividend yield
Trails peers (4/14)
Narrow moat 35/100
Evidence: High Range kr 69.39 – kr 129.51 Share as image

Fair value as of: Jul 12, 2026

From 24 valuation models · updated 28 days ago

Share price +3.0% over the past month.

Below-average quality, and screening another 15% overvalued on our models.

What matters now

  • Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (kr 69.39 to kr 129.51) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 125.00 kr 19.87 Fair Value kr 100.22 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range kr 19.87 – kr 125.00 · fair‑value band kr 69.39 – kr 129.51 · the kr 118.60 price screens above the kr 100.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Endúr ASA (ENDUR) currently trades at kr 118.60, while our model-based Fair Value estimate is kr 100.22, implying the stock looks roughly 15.5% overvalued today. The Quality Score stands at 42/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Endúr ASA generated revenue of 7.3B NOK at a net margin of 2.5%. Revenue grew 102.1% year over year. It earns a return on equity of 7.8%. Net debt stands at 467M NOK. Fundamentals as of Jul 12, 2026

Our scenario range runs from kr 69.39 (bear case) to kr 129.51 (bull case); at kr 118.60, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 6% below its 52-week high and 47% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at -15%, ENDUR screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF kr 287.65 kr 543.82 kr 956.52 80
Rev-Margin DCF kr 147.28 kr 225.61 kr 392.18 74
ROIC Compounder kr 66.82 kr 91.41 kr 112.93 72
All 24 models by family
DCF Models
FCF DCF kr 306.04 kr 468.98 kr 977.00 38
Owner Earnings kr 120.19 kr 261.39 kr 546.90 31
5Y Revenue Exit kr 135.69 kr 197.25 kr 323.25 39
5Y EBITDA Exit kr 182.53 kr 291.94 kr 505.44 41
5Y P/E Exit kr 120.79 kr 200.02 kr 296.93 38
10Y Revenue Exit kr 186.56 kr 324.37 kr 387.19 36
10Y EBITDA Exit kr 222.46 kr 422.92 kr 751.04 37
10Y P/E Exit kr 178.42 kr 293.03 kr 456.03 35
Earnings-Based
Graham-Dodd kr 17.77 kr 123.90 kr 173.87 54
Lynch FV kr 64.01 kr 91.44 kr 118.88 50
PEG = 1.0 kr 64.01 kr 91.44 kr 118.88 46
EPV kr 55.56 kr 63.69 kr 70.70 59
Multiples
P/E Multiple kr 41.15 kr 54.87 kr 68.58 63
P/S Multiple kr 33.31 kr 44.41 kr 55.52 58
P/B Multiple kr 33.31 kr 44.41 kr 55.52 55
EV/EBIT kr 84.29 kr 111.02 kr 137.75 53
EV/EBITDA kr 128.86 kr 170.44 kr 212.03 54
EV/Revenue kr 61.33 kr 85.86 kr 110.39 43
Asset-Based
NCAV (Graham) kr 22.92 kr 30.72 kr 45.85 50
Growth DCF
Growth DCF kr 287.65 kr 543.82 kr 956.52 80
Rev-Margin DCF kr 147.28 kr 225.61 kr 392.18 74
Economic Profit
Residual Income kr 35.29 kr 35.96 kr 35.15 61
ROIC Compounder kr 66.82 kr 91.41 kr 112.93 72
Growth Earnings
Growth-Adj P/E kr 83.72 kr 119.61 kr 155.49 68

Widest divergence: DCF Models (kr 291.94) versus Asset-Based (kr 30.72). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 7.3B NOK
Revenue growth (YoY) +102%
Net margin 2.5%
Return on equity 7.8%
Free cash flow 972M NOK FY2025
P/E ratio 44.4
More key figures
Operating margin 3.1%
EPS (TTM) kr 2.75
Dividend yield 0.7%
EPS growth (YoY) +42.2%
Net debt 467M NOK FY2024

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 48 · Market factors (momentum, volatility) 73

Profitability 45
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 81
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 78
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Endúr ASA reported revenue of kr 6.4B in FY2025 versus kr 2.0B in FY2021, a compound +33.7%/yr. Reported net income was kr 134M in FY2025.

Growth Quality 82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
6.4B NOK
Latest YoY
+131.9%
Avg. growth/yr (3Y)
+36.7%
Avg. growth/yr (18Y)
+9.1%
Revenue +33.7%/yr
FY21 kr 2.0B
FY22 kr 2.5B
FY23 kr 2.0B
FY24 kr 2.8B
FY25 kr 6.4B
Net income
FY21 −kr 67.1M
FY22 kr 9.1M
FY23 −kr 27.0M
FY24 kr 43.4M
FY25 kr 134M

ENDUR screens 15% overvalued. Compare with Larsen & Toubro Limited →

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Cite: Fair Value Calculator (2026). "Endúr ASA Fair Value". https://www.fairvalue-calculator.com/stock/ENDUR

Peer Group

Engineering & Construction · 837 stocks

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.

Quality Score 42 · Below median
Fair Value upside −16% · Below median
Return on equity (TTM) 8% · Above median
Return on assets 4% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 102% · Top 25%
Dividend yield (TTM) 0.7% · Below median
Debt / equity 0.46× · Higher than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 41.7× · Pricier than 75% of peers
P/B 2.46× · Pricier than median
P/S (TTM) 0.79× · Pricier than median
P/FCF 0.6× · Cheaper than median
EV/EBITDA 9.9× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 13 · sector 16
FUTURE 100 · sector 18
PAST 31 · sector 26
HEALTH 77 · sector 94
DIVIDEND 14 · sector 33

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Endúr ASA (ENDUR) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of kr 100.22 versus a price of kr 118.60, about −15% (overvalued).
What is the fair value of ENDUR?
Our model-based fair value for Endúr ASA is kr 100.22 (as of Jul 12, 2026), built from audited fundamentals. The current price is kr 118.60.
What is the quality score of ENDUR?
Endúr 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 revenue of Endúr ASA (ENDUR)?
Endúr ASA reported trailing-twelve-month revenue of about 7.3B NOK (latest available figure, as of Jul 12, 2026).
What is the net profit margin of ENDUR?
The net profit margin of Endúr ASA is about 2.5%, meaning it keeps roughly 2.5% of revenue as net income. Based on the latest reported figures.
Does Endúr ASA pay a dividend?
Endúr ASA currently shows a dividend yield of about 0.65% relative to its recent price (as of Jul 12, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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