(EVT) Evotec SE - Overview
Sector: Healthcare | Industry: Drug Manufacturers - Specialty & Generic | Exchange: XETRA (Germany) | Market Cap: 929m EUR | Total Return: -21.3% in 12m
Avg Turnover: 3.61M
Qual. Beats: 0
Rev. Trend: -66.6%
Qual. Beats: 0
Warnings
High Debt/EBITDA (8.9) with thin interest coverage (-7.1)
High Debt while negative Cash Flow
Interest Coverage Ratio -7.1 is critical
Altman Z'' -1.87 < 1.0 - financial distress zone
Choppy
Tailwinds
No distinct edge detected
Evotec SE is a Germany-based drug discovery and development firm operating primarily through its Shared R&D and Just – Evotec Biologics segments. The company maintains an extensive portfolio of therapeutic targets, including oncology, immunology, metabolic diseases, and central nervous system disorders. Its business model relies heavily on a partnership-driven approach, collaborating with major pharmaceutical corporations, academic institutions, and venture capital groups to advance clinical pipelines.
The company operates within the Contract Research Organization (CRO) and Contract Development and Manufacturing Organization (CDMO) sectors, providing specialized outsourcing services that reduce capital expenditure for biotech firms. Evotec’s strategy involves building bridges between academia and industry to accelerate the commercialization of early-stage research. To better understand how these partnerships influence underlying valuation, you may wish to explore the data on ValueRay.
Headquartered in Hamburg, Evotec serves a global market with significant operations in the United States and across Europe. Its collaborative network includes prominent institutions such as Harvard, Yale, and the University of Oxford, alongside strategic agreements with industry leaders like Bristol Myers Squibb and Novo Nordisk.
- Expansion of high-margin shared R&D partnerships with major pharmaceutical firms
- Scaling of Just-Evotec Biologics manufacturing capacity drives revenue growth
- Significant milestone payments from clinical pipeline progress boost cash flow
- High operational costs and capital expenditures pressure near-term profitability margins
- Reliance on biotechnology sector funding levels impacts early-stage service demand
| Net Income: -193.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA 1.54 > 1.0 |
| NWC/Revenue: 38.64% < 20% (prev 46.56%; Δ -7.91% < -1%) |
| CFO/TA 0.01 > 3% & CFO 20.5m > Net Income -193.9m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.68 > 1.5 & < 3 |
| Outstanding Shares: last quarter (177.6m) vs 12m ago 0.02% < -2% |
| Gross Margin: 11.47% > 18% (prev 0.14%; Δ 1.13k% > 0.5%) |
| Asset Turnover: 41.57% > 50% (prev 40.53%; Δ 1.04% > 0%) |
| Interest Coverage Ratio: -7.08 > 6 (EBITDA TTM -3.95m / Interest Expense TTM 14.6m) |
| A: 0.18 (Total Current Assets 711.3m - Total Current Liabilities 423.4m) / Total Assets 1.64b |
| B: -0.55 (Retained Earnings -897.8m / Total Assets 1.64b) |
| C: -0.06 (EBIT TTM -103.4m / Avg Total Assets 1.79b) |
| D: -0.81 (Book Value of Equity -758.3m / Total Liabilities 940.2m) |
| Altman-Z'' = -1.87 = D |
| DSRI: 0.70 (Receivables 167.1m/252.8m, Revenue 745.0m/788.2m) |
| GMI: 1.19 (GM 11.47% / 13.62%) |
| AQI: 1.14 (AQ_t 0.24 / AQ_t-1 0.21) |
| SGI: 0.95 (Revenue 745.0m / 788.2m) |
| TATA: -0.13 (NI -193.9m - CFO 20.5m) / TA 1.64b) |
| Beneish M = -3.19 (Cap -4..+1) = AA |
As of May 30, 2026, the stock is trading at EUR 5.28 with a total of 1,013,420 shares traded.
Over the past week, the price has changed by +0.96%,
over one month by +5.49%,
over three months by -10.20% and
over the past year by -21.33%.
Evotec SE has no consensus analysts rating.
P/E Forward = 54.3478
P/S = 1.2467
P/B = 1.2895
P/EG = 1.4271
Revenue TTM = 745.0m EUR
EBIT TTM = -103.4m EUR
EBITDA TTM = -3.95m EUR
Long Term Debt = 298.8m EUR (from longTermDebt, last quarter)
Short Term Debt = 88.6m EUR (from shortTermDebt, last quarter)
Debt = 409.6m EUR (from shortLongTermDebtTotal, last quarter) + Leases 22.2m
Net Debt = -35.1m EUR (calculated: Debt 409.6m - CCE 444.8m)
Enterprise Value = 893.7m EUR (928.8m + Debt 409.6m - CCE 444.8m)
Interest Coverage Ratio = -7.08 (Ebit TTM -103.4m / Interest Expense TTM 14.6m)
EV/FCF = -21.08x (Enterprise Value 893.7m / FCF TTM -42.4m)
FCF Yield = -4.74% (FCF TTM -42.4m / Enterprise Value 893.7m)
FCF Margin = -5.69% (FCF TTM -42.4m / Revenue TTM 745.0m)
Net Margin = -26.02% (Net Income TTM -193.9m / Revenue TTM 745.0m)
Gross Margin = 11.47% ((Revenue TTM 745.0m - Cost of Revenue TTM 659.6m) / Revenue TTM)
Gross Margin QoQ = -1.00% (prev 30.98%)
Tobins Q-Ratio = 0.55 (Enterprise Value 893.7m / Total Assets 1.64b)
Interest Expense / Debt = 3.57% (Interest Expense 14.6m / Debt 409.6m)
Taxrate = 25.0% (EU avg default 25%)
NOPAT = -77.6m (EBIT -103.4m * (1 - 25.00%)) [loss with tax shield]
Current Ratio = 1.68 (Total Current Assets 711.3m / Total Current Liabilities 423.4m)
Debt / Equity = 0.59 (Debt 409.6m / totalStockholderEquity, last quarter 699.6m)
Debt / EBITDA = 8.89 (negative EBITDA) (Net Debt -35.1m / EBITDA -3.95m)
Debt / FCF = 0.83 (negative FCF - burning cash) (Net Debt -35.1m / FCF TTM -42.4m)
Total Stockholder Equity = 789.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -10.82% (Net Income -193.9m / Total Assets 1.64b)
RoE = -11.49% (Net Income TTM -193.9m / Total Stockholder Equity 1.69b)
RoCE = -5.21% (EBIT -103.4m / Capital Employed (Equity 1.69b + L.T.Debt 298.8m))
RoIC = -5.94% (negative operating profit) (NOPAT -77.6m / Invested Capital 1.31b)
WACC = 9.15% (E(928.8m)/V(1.34b) * Re(12.0%) + D(409.6m)/V(1.34b) * Rd(3.57%) * (1-Tc(0.25)))
Discount Rate = 12.0% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 73.33 | Cagr: 0.16%
[DCF] Fair Price = unknown (Cash Flow -42.4m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.44 | # QB: 0
Revenue Correlation: -66.57 | Revenue CAGR: -1.83% | SUE: -0.34 | # QB: 0
EPS current Year (2026-12-31): EPS=-0.77 | Chg30d=-31.54% | Revisions=-33% | GrowthEPS=-36.5% | GrowthRev=-6.4%
EPS next Year (2027-12-31): EPS=-0.14 | Chg30d=+0.29% | Revisions=-20% | GrowthEPS=+81.8% | GrowthRev=+10.9%
[Analyst] Revisions Ratio: -33%