Endurance Technologies Limited (ENDURANCE.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-49.9%

₹1,212.02

vs ₹2,421.20 price

Levered DCF

₹1,453.38

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	32.72×	32.43×	37.75×	36.42×	33.43×	39.41×	14.95×	32.71×
P/B	4.55×	4.74×	5.16×	3.96×	3.93×	5.75×	2.81×	6.31×
P/S	2.13×	2.39×	2.55×	2.01×	2.07×	3.2×	1.25×	2.18×
EV / EBITDA	15.27×	16.11×	18.37×	16.53×	15.85×	19.46×	7.29×	14.46×
Gross margin	29.0%	38.8%	37.0%	35.5%	37.3%	40.9%	52.3%	48.3%
Operating margin	8.4%	9.0%	8.5%	7.1%	7.9%	10.0%	10.6%	10.2%
Net margin	6.5%	7.4%	6.7%	5.5%	6.2%	8.1%	8.3%	6.7%
Current ratio	1.55×	1.71×	1.69×	1.65×	1.72×	1.69×	1.37×	1.21×
Debt / equity	0.19×	0.17×	0.15×	0.12×	0.11×	0.18×	0.25×	0.28×
Interest coverage	21.47×	21.84×	20.18×	30.19×	92.49×	46.67×	40.95×	31.24×
Dividend yield	0.5%	0.4%	0.4%	0.5%	0.5%	0.0%	2.2%	0.4%
Payout ratio	14.8%	14.3%	14.5%	18.3%	18.3%	0.0%	33.0%	13.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.9%	14.6%	13.7%	10.9%	11.8%	14.6%	18.8%	19.3%
Return on invested capital	10.7%	11.5%	11.0%	9.2%	10.5%	12.0%	14.1%	15.1%
Return on assets	8.2%	9.2%	8.6%	7.1%	7.9%	9.0%	11.2%	10.3%
Free cash flow yield	1.7%	1.8%	0.8%	1.3%	1.4%	1.2%	5.1%	1.1%
Earnings yield	3.1%	3.1%	2.6%	2.7%	3.0%	2.5%	6.7%	3.1%
Enterprise value	₹315.9B	₹270.5B	₹259.5B	₹176.9B	₹154.3B	₹206.1B	₹85.8B	₹163.8B
Net debt / EBITDA	0.22×	-0.04×	0.18×	0.21×	0.03×	0.12×	0.11×	0.17×
Cash conversion cycle (days)	4	-9	6	17	1	9	-20	-13