Employees: 1,113
Size Endur (ENDUR.OL) is a Norway Industrials company (Trucks/Construction/Farm Machinery) with a market value of $696M, the 74th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 126.60 on 6 Nov 2026.
Performance Over six months the shares gained 6.6%, against -17.0% for the median peer and +2.7% for the Norway market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 88.3% over the last twelve months (peer median +3.1%); the operating margin is 5.1% (peer median 3.5%).
Valuation It trades at 19.2× forward earnings against a peer median of 17.7× (5th most expensive of 11).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +89%, so the hurdle is -80 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.8 points above its cost of capital (8.0% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 7.64B | NOK 6.40B | NOK 2.77B | NOK 1.96B | NOK 2.49B |
| Revenue growth | — | +131% | +41% | -21% | — |
| Gross profit | NOK 375M | NOK 303M | NOK 127M | NOK 69.0M | NOK 78.0M |
| EBITDA | NOK 786M | NOK 655M | NOK 368M | NOK 239M | NOK 230M |
| Net income | NOK 205M | NOK 134M | NOK 43.4M | -NOK 27.0M | NOK 9.10M |
| Free cash flow | NOK 465M | NOK 893M | NOK 347M | NOK 1.50M | NOK 141M |
| Capital expenditure | NOK 66.3M | NOK 66.6M | NOK 58.3M | NOK 41.0M | NOK 46.7M |
| Total debt | NOK 1.59B | NOK 1.56B | NOK 987M | NOK 1.01B | NOK 903M |
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| Measure | ENDUR.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.9% | -5.3% | 3rd highest of 21 |
| 6-month return | +6.6% | -17.0% | highest of 21 |
| Distance from 52-week high | -4.0% | -30.9% | highest of 21 |
| Revenue growth (TTM) | +88.3% | +3.1% | highest of 21 |
| Operating margin | 5.1% | 3.5% | 8th highest of 21 |
| Forward P/E | 19.2× | 17.7× | 5th most expensive of 11 |
| Growth the price implies (Req g, 7 yrs) | 8.8% | 9.6% | 7th least demanding of 13 |
| Growth delivered (Del g) | +88.7% | +3.4% | highest of 13 |
| Hurdle (Req g minus delivered) | -79.9 pp | +4.3 pp | least demanding of 13 |
| ROIC minus cost of capital | +0.8 pp | -3.6 pp | 5th highest of 21 |
| EV / EBITDA | 9.5× | 14.7× | 2nd cheapest of 5 |
| Net debt / EBITDA | 1.2× | 0.7× | 3rd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Endur ENDUR.OL | Norway | $696M | +7% | +88% | 5% | 19.2× | 8.8% | +88.7% |
| Jianglong Shipbuilding 300589.SZ | China | $699M | -25% | -9% | -12% | 42.5× | n/a | n/a |
| Ajax Engineering AJAXENGG.NS | India | $676M | +1% | +1% | 12% | 24.3× | 25.4% | +23.2% |
| Jinxi Axle 600495.SS | China | $728M | -6% | +19% | -1% | n/a | 22.1% | +2.6% |
| Wetown Electric 688226.SS | China | $729M | -55% | +54% | 3% | 29.9× | n/a | n/a |
| VBG VBG-B.ST | Sweden | $734M | -16% | +5% | 10% | 16.2× | 2.7% | +11.4% |
| Shanghai Chuangli 603012.SS | China | $738M | -12% | -17% | 5% | n/a | 8.1% | +2.8% |
| Niutech Technology 688309.SS | China | $753M | -10% | +79% | 26% | n/a | n/a | n/a |
| Shandong Mining Machinery 002526.SZ | China | $754M | -15% | -6% | 1% | n/a | n/a | n/a |
| CSBC Corp. Taiwan 2208.TW | Taiwan | $642M | -18% | -15% | -5% | n/a | n/a | n/a |
| Xiamen XGMA Machinery 600815.SS | China | $756M | -36% | +21% | -21% | n/a | n/a | n/a |
| Beijing Tianma Intelligent Control Technology 688570.SS | China | $628M | -22% | -5% | -1% | 44.5× | 14.1% | +6.8% |
| Balu Forge Industries BALUFORGE.NS | India | $624M | -10% | +31% | 26% | 15.9× | n/a | n/a |
| Chengdu Xinzhu Road & Bridge Machinery 002480.SZ | China | $620M | -18% | -21% | -4% | n/a | 12.5% | -8.7% |
| Weihai Guangtai Airport Equipment 002111.SZ | China | $620M | -29% | +11% | 6% | 14.7× | 5.8% | +2.4% |
| Hangzhou Advance Gearbox 601177.SS | China | $786M | -19% | +1% | 4% | n/a | 14.5% | +4.6% |
| Shaanxi Construction Machinery 600984.SS | China | $611M | -24% | -4% | -61% | n/a | 6.9% | -8.6% |
| Beijing Tieke Shougang Railway-Tech 688569.SS | China | $606M | -5% | +24% | 22% | 16.1× | -2.0% | +0.8% |
| Gemac Engineering Machinery 301048.SZ | China | $801M | -8% | +7% | 8% | n/a | 4.1% | +4.0% |
| Greenworks (Jiangsu) 301260.SZ | China | $804M | -35% | -1% | -8% | 19.1× | n/a | n/a |
| Manitowoc MTW | United States | $808M | -3% | +9% | 3% | 16.2× | 11.2% | +9.2% |