Endeavour Group Ltd Ordinary Shares

EDV: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$5.40	Cvky	Zwpxryrxf

Endeavour Earnings: Underlying Growth Trends Unhindered by Near-Term Labor Cost and Regulatory Woes

Johannes Faul

Aug 16, 2023

We maintain our investment thesis and AUD 6.10 fair value estimate for wide-moat Endeavour. Fiscal 2023 results were broadly in line with our expectations. Net profit after tax of AUD 529 million beat our estimates by 3%, largely driven by stronger-than-expected operating profit margins in the hotels segment.

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