Evotec SE
EVOHealthcare|Drug Manufacturers - Specialty & Generic|DE
$1.69
-0.09 (-4.79%)
Tangible Book / Share
$1.80
Cash / Share
$1.18
Financials
Financial Snapshot
Market Cap
$600.3M
Enterprise Value
$680.1M
Revenue (TTM)
$720.9M
Net Income (TTM)
-$183.6M
Cash & Investments
$418.5M
Net Cash
$1.3M
Free Cash Flow (TTM)
-$131.3M
Operating CF (TTM)
-$95.3M
Debt/Equity
0.65
Cash Runway & Burn Rate
Cash on Hand
$418.5M
Quarterly Burn
$23.8M
Monthly Burn
$7.9M
Est. Runway
~17.6 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $127.9M | $101.6M | $149.9M | $359.2M | $589.7M | $858.5M | $707.3M | $604.1M | $396.8M | $476.2M | $418.5M | |
| Operating Cash Flow | $67.4M | $10.8M | $156.2M | $42.2M | $44.7M | $122.2M | $205.8M | $36.4M | $18.2M | -$9.1M | -$95.3M | |
| Free Cash Flow | $57.2M | -$6.8M | $128.4M | $10.3M | -$54.4M | $3.3M | $24.5M | -$179.6M | -$114.0M | -$78.7M | -$131.3M | |
| Capital Expenditure | -$10.1M | -$17.6M | -$27.9M | -$31.9M | -$99.1M | -$118.9M | -$181.4M | -$216.0M | -$132.2M | -$69.7M | -$36.0M | |
| Financing Cash Flow | -$19.7M | $240.7M | -$77.8M | $211.3M | $246.4M | $398.4M | -$58.1M | $72.0M | -$161.4M | -$30.9M | -$16.8M |
R&D Spending
R&D (TTM)
$39.8M
R&D Intensity
5.5%
R&D Growth vs Prior
-46.5%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $164.5M | $257.6M | $375.4M | $446.4M | $500.9M | $618.0M | $751.4M | $781.4M | $797.0M | $757.3M | $720.9M | |
| R&D Expense | $18.1M | $17.6M | $35.6M | $58.4M | $59.6M | $65.7M | $76.6M | $68.5M | $50.9M | $74.3M | $39.8M | |
| R&D % of Revenue | 11.0% | 6.8% | 9.5% | 13.1% | 11.9% | 10.6% | 10.2% | 8.8% | 6.4% | 9.8% | 5.5% | |
| SG&A | $27.0M | $42.4M | $57.0M | $66.4M | $77.2M | $105.4M | $156.2M | $169.6M | $188.2M | $123.6M | $167.2M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $164.5M | $257.6M | $375.4M | $446.4M | $500.9M | $618.0M | $751.4M | $781.4M | $797.0M | $757.3M | $720.9M | |
| Cost of Revenue | $106.0M | $175.1M | $263.4M | $313.5M | $375.2M | $466.5M | $577.4M | $606.4M | $682.1M | $694.6M | $626.6M | |
| Gross Profit | $58.6M | $82.6M | $112.0M | $132.9M | $125.7M | $151.5M | $174.1M | $175.1M | $114.9M | $62.7M | $94.3M | |
| R&D | $18.1M | $17.6M | $35.6M | $58.4M | $59.6M | $65.7M | $76.6M | $68.5M | $50.9M | $74.3M | $39.8M | |
| SG&A | $27.0M | $42.4M | $57.0M | $66.4M | $77.2M | $105.4M | $156.2M | $169.6M | $188.2M | $123.6M | $167.2M | |
| Operating Income | $31.3M | $37.5M | $77.5M | $62.6M | $48.6M | $41.0M | $20.9M | -$47.5M | -$142.5M | -$135.3M | -$111.4M | |
| Interest Expense | $1.5M | $1.3M | $2.6M | $7.5M | $8.5M | $9.3M | $13.2M | $11.7M | $11.7M | $13.9M | $13.3M | |
| Pretax Income | $33.0M | $26.3M | $72.0M | $56.6M | $25.8M | $237.0M | -$154.0M | -$80.6M | -$194.0M | -$123.3M | -$165.9M | |
| Net Income | $27.5M | $24.3M | $84.2M | $38.2M | $6.3M | $215.5M | -$175.7M | -$83.9M | -$196.1M | -$99.4M | -$183.6M | |
| EPS (Diluted) | 0.10 | 0.08 | 0.28 | 0.13 | 0.02 | 0.65 | -0.49 | -0.23 | -0.56 | -0.28 | -0.51 | |
| EBITDA | $45.6M | $35.5M | $105.9M | $86.8M | $90.4M | $316.6M | -$57.6M | $24.1M | -$80.7M | -$13.9M | -$85.8M | |
| Shares Out. (M) | 265.01 | 290.02 | 294.96 | 299.45 | 307.50 | 332.81 | 353.41 | 353.87 | 354.59 | 355.16 | 355.53 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $83.9M | $67.0M | $109.1M | $311.0M | $517.0M | $699.3M | $400.7M | $510.9M | $306.4M | $418.3M | $299.0M | |
| Short-Term Investments | $43.9M | $34.6M | $40.8M | $48.3M | $72.6M | $159.2M | $306.6M | $93.2M | $90.4M | $57.8M | $119.5M | |
| Total Current Assets | $169.2M | $180.3M | $249.8M | $527.0M | $806.1M | $1.10B | $1.07B | $903.2M | $682.0M | $762.6M | $663.3M | |
| Total Assets | $351.4M | $667.3M | $771.9M | $1.38B | $1.84B | $2.24B | $2.26B | $2.25B | $1.91B | $1.78B | $1.50B | |
| Total Current Liabilities | $73.4M | $245.8M | $196.3M | $200.9M | $255.1M | $324.5M | $337.7M | $464.6M | $344.6M | $367.9M | $285.6M | |
| Long-Term Debt | $7.2M | $20.3M | $54.7M | $364.7M | $405.0M | $326.3M | $328.3M | $477.1M | $392.7M | $194.8M | $417.2M | |
| Total Liabilities | $137.4M | $335.5M | $347.0M | $844.4M | $951.3M | $857.5M | $1.07B | $1.13B | $960.0M | $964.6M | $863.3M | |
| Stockholders' Equity | $213.0M | $330.8M | $424.0M | $535.5M | $886.4M | $1.38B | $1.19B | $1.12B | $952.5M | $813.4M | $641.7M | |
| Retained Earnings | -$592.9M | -$566.7M | -$481.0M | -$495.2M | -$529.4M | -$216.4M | -$392.4M | -$476.3M | -$672.4M | -$775.6M | -$971.2M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $67.4M | $10.8M | $156.2M | $42.2M | $44.7M | $122.2M | $205.8M | $36.4M | $18.2M | -$9.1M | -$95.3M | |
| Capital Expenditure | -$10.1M | -$17.6M | -$27.9M | -$31.9M | -$99.1M | -$118.9M | -$181.4M | -$216.0M | -$132.2M | -$69.7M | -$36.0M | |
| Free Cash Flow | $57.2M | -$6.8M | $128.4M | $10.3M | -$54.4M | $3.3M | $24.5M | -$179.6M | -$114.0M | -$78.7M | -$131.3M | |
| Investing Cash Flow | -$6.0M | -$269.0M | -$39.1M | -$86.6M | -$155.1M | -$243.9M | -$412.8M | -$13.3M | -$71.2M | $159.9M | $224.1M | |
| Financing Cash Flow | -$19.7M | $240.7M | -$77.8M | $211.3M | $246.4M | $398.4M | -$58.1M | $72.0M | -$161.4M | -$30.9M | -$16.8M | |
| Issuance of Stock | $818.0K | $90.2M | $1.6M | $0.00 | $250.0M | $404.3M | $355.0K | $0.00 | $0.00 | -$1.3M | $133.3K | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | -$19.7M | $148.4M | -$79.3M | $209.4M | -$5.2M | $14.8M | -$53.1M | $84.6M | -$152.1M | -$7.0M | $37.6M | |
| Stock Based Comp. | $4.0M | $2.9M | $4.2M | $3.6M | $5.3M | $7.8M | $9.9M | $9.6M | $5.0M | $0.00 | $0.00 | |
| Net Change in Cash | $39.4M | -$16.9M | $42.0M | $168.0M | $145.5M | $276.7M | -$284.2M | $95.8M | -$204.5M | $148.3M | $113.7M |
Dilution Tracker
Shares Outstanding
355M
5-Year Share Growth
+15.5%
Stock Issuance (TTM)
$133.3K
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 265.01 | 290.02 | 294.96 | 299.45 | 307.50 | 332.81 | 353.41 | 353.87 | 354.59 | 355.16 | 355.53 | |
| Change vs Prior % | — | 9.4% | 1.7% | 1.5% | 2.7% | 8.2% | 6.2% | 0.1% | 0.2% | 0.2% | 0.1% | |
| Stock Issuance | $818.0K | $90.2M | $1.6M | $0.00 | $250.0M | $404.3M | $355.0K | $0.00 | $0.00 | -$1.3M | $133.3K | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $4.0M | $2.9M | $4.2M | $3.6M | $5.3M | $7.8M | $9.9M | $9.6M | $5.0M | $0.00 | $0.00 |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 35.6% | 32.0% | 29.8% | 29.8% | 25.1% | 24.5% | 23.2% | 22.4% | 14.4% | 8.3% | 13.1% | |
| Operating Margin % | 19.1% | 14.6% | 20.6% | 14.0% | 9.7% | 6.6% | 2.8% | -6.1% | -17.9% | -17.9% | -15.5% | |
| Net Margin % | 16.7% | 9.4% | 22.4% | 8.5% | 1.3% | 34.9% | -23.4% | -10.7% | -24.6% | -13.1% | -25.5% | |
| EBITDA Margin % | 27.7% | 13.8% | 28.2% | 19.4% | 18.0% | 51.2% | -7.7% | 3.1% | -10.1% | -1.8% | -11.9% | |
| FCF Margin % | 34.8% | -2.6% | 34.2% | 2.3% | -10.9% | 0.5% | 3.3% | -23.0% | -14.3% | -10.4% | -18.2% | |
| ROE % | 12.9% | 7.3% | 19.9% | 7.1% | 0.7% | 15.6% | -14.8% | -7.5% | -20.6% | -12.2% | -25.6% | |
| ROA % | 7.8% | 3.6% | 10.9% | 2.8% | 0.3% | 9.6% | -7.8% | -3.7% | -10.3% | -5.6% | -12.0% | |
| ROIC % | 8.5% | 5.8% | 12.2% | 3.4% | 0.7% | 1.9% | 1.1% | -2.4% | -8.8% | -7.2% | -9.0% | |
| R&D / Revenue % | 11.0% | 6.8% | 9.5% | 13.1% | 11.9% | 10.6% | 10.2% | 8.8% | 6.4% | 9.8% | 5.5% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 28.8% | 56.6% | 45.7% | 18.9% | 12.2% | 23.4% | 21.6% | 4.0% | 2.0% | -5.0% | |
| Gross Profit | 54.1% | 41.0% | 35.7% | 18.6% | -5.4% | 20.5% | 14.9% | 0.6% | -34.4% | -45.5% | |
| Operating Income | 169.3% | 19.6% | 106.6% | -19.2% | -22.4% | -15.6% | -49.1% | -327.9% | -200.0% | 5.1% | |
| Net Income | 66.7% | -11.9% | 247.0% | -54.7% | -83.5% | 3332.8% | -181.5% | 52.2% | -133.7% | 49.3% | |
| EPS (Diluted) | 66.7% | -20.0% | 256.2% | -56.1% | -84.0% | 3150.0% | -176.2% | 52.5% | -136.2% | 49.5% | |
| Operating Cash Flow | 330.4% | -83.9% | 1342.9% | -73.0% | 5.9% | 173.3% | 68.4% | -82.3% | -50.0% | -149.8% | |
| Free Cash Flow | 1276.9% | -111.8% | 1999.3% | -92.0% | -627.1% | 106.1% | 642.5% | -834.2% | 36.5% | 30.9% | |
| R&D Expense | -1.3% | -2.7% | 102.2% | 64.0% | 2.0% | 10.2% | 16.7% | -10.6% | -25.8% | 46.2% | |
| SG&A Expense | 7.3% | 56.9% | 34.5% | 16.5% | 16.2% | 36.6% | 48.1% | 8.6% | 11.0% | -34.3% | |
| Total Assets | 21.8% | 89.9% | 15.7% | 78.8% | 33.2% | 21.6% | 1.0% | -0.2% | -15.1% | -7.0% | |
| Book Value / Share | 13.6% | 41.7% | 25.9% | 24.1% | 61.2% | 43.6% | -18.8% | -5.8% | -14.8% | -15.1% | |
| Debt | 25.6% | 558.9% | -39.7% | 354.1% | 15.8% | -14.8% | -1.2% | 60.9% | -45.6% | 0.9% | |
| Diluted Shares | -3.7% | 9.4% | 1.7% | 1.5% | 2.7% | 8.2% | 6.2% | 0.1% | 0.2% | 0.2% |
Valuation
P/E (TTM)At Loss
10Y Low / Med / High30.47 / 83.61 / 750.70
P/S0.78
10Y Low / Med / High1.23 / 6.82 / 11.25
P/B0.88
10Y Low / Med / High1.14 / 5.05 / 6.41
EV/EBITDAAt Loss
10Y Low / Med / High20.27 / 41.95 / 168.28
EV/Revenue0.95
10Y Low / Med / High1.27 / 6.84 / 10.95
P/FCFAt Loss
10Y Low / Med / High17.11 / 109.16 / 2110.21
Intrinsic Value Models (per share)
Tangible Book / Share
$1.80
Cash / Share
$1.18
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | 36.94 | 83.61 | 30.47 | 91.67 | 750.70 | 32.13 | -15.26 | -45.16 | -7.24 | -9.36 | -3.11 | |
| P/S Ratio | 5.95 | 7.53 | 6.82 | 7.69 | 9.22 | 11.25 | 3.55 | 4.81 | 1.78 | 1.23 | 0.78 | |
| P/B Ratio | 4.60 | 5.87 | 6.04 | 6.41 | 5.21 | 5.05 | 2.25 | 3.35 | 1.49 | 1.14 | 0.88 | |
| EV/EBITDA | 20.27 | 58.11 | 24.25 | 41.95 | 52.03 | 21.36 | -48.18 | 168.28 | -19.30 | -69.12 | -24.00 | |
| EV/Revenue | 5.62 | 8.01 | 6.84 | 8.15 | 9.39 | 10.95 | 3.69 | 5.20 | 1.95 | 1.27 | 0.95 |
Analyst Estimates & Quality
Altman Z-Score
-0.10
Distress
Piotroski F-Score
4
Moderate
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $595.2M | $708.5M | $775.0M |
| Net Income | -$250.0M | -$68.3M | $4.1M |
| EPS | $-0.70 | $-0.19 | $0.01 |
| # Analysts (EPS) | 1 | 1 | 1 |
Dividends
Frequency
Monthly
Recent Payments
| Ex-Date | Pay Date | Amount | Frequency |
|---|---|---|---|
| Jan 11, 2019 | $0.29 | Monthly | |
| Dec 12, 2018 | $0.18 | Monthly | |
| Nov 8, 2018 | $0.18 | Monthly | |
| Oct 10, 2018 | $0.18 | Monthly | |
| Sep 13, 2018 | $0.18 | Monthly | |
| Aug 10, 2018 | $0.18 | Monthly | |
| Jul 11, 2018 | $0.18 | Monthly | |
| Jun 8, 2018 | $0.18 | Monthly | |
| May 10, 2018 | $0.18 | Monthly | |
| Apr 11, 2018 | $0.18 | Monthly | |
| Mar 9, 2018 | $0.18 | Monthly | |
| Feb 9, 2018 | $0.18 | Monthly | |
| Jan 11, 2018 | $0.18 | Monthly | |
| Dec 8, 2017 | $0.18 | Monthly | |
| Nov 10, 2017 | $0.18 | Monthly | |
| Oct 11, 2017 | $0.18 | Monthly | |
| Sep 8, 2017 | $0.18 | Monthly | |
| Aug 9, 2017 | $0.18 | Monthly | |
| Jul 11, 2017 | $0.18 | Monthly | |
| Jun 8, 2017 | $0.20 | Monthly |
Revenue Segments
By Product
| Segment | 2025 |
|---|---|
| Other Fees | $300.0K |