Evotec SE (EVO) 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

-333.8%

-$3.55

vs $1.52 price

Levered DCF

-$3.33

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

-0.13

Distress zone

Rating

C-

Overall 1 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-9.36×	-7.24×	-45.16×	-15.26×	32.13×	750.7×	91.67×	30.47×
P/B	1.14×	1.49×	3.35×	2.25×	5.05×	5.21×	6.41×	6.04×
P/S	1.23×	1.78×	4.81×	3.55×	11.25×	9.22×	7.69×	6.82×
EV / EBITDA	-69.12×	-19.3×	168.28×	-48.18×	21.36×	52.03×	41.95×	24.25×
Gross margin	8.3%	14.4%	22.4%	23.2%	24.5%	25.1%	29.8%	29.8%
Operating margin	-17.9%	-17.9%	-6.1%	2.8%	6.6%	9.7%	14.0%	20.6%
Net margin	-13.1%	-24.6%	-10.7%	-23.4%	34.9%	1.3%	8.5%	22.4%
Current ratio	2.07×	1.98×	1.94×	3.18×	3.39×	3.16×	2.62×	1.27×
Debt / equity	0.55×	0.47×	0.73×	0.43×	0.37×	0.68×	0.97×	0.27×
Interest coverage	-9.75×	-12.18×	-4.05×	1.59×	4.43×	5.74×	8.4×	29.9×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.6%	5.4%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	50.5%	165.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-12.2%	-20.6%	-7.5%	-14.8%	15.6%	0.7%	7.1%	19.9%
Return on invested capital	-7.2%	-8.8%	-2.4%	1.1%	1.9%	0.7%	3.4%	12.2%
Return on assets	-5.6%	-10.3%	-3.7%	-7.8%	9.6%	0.3%	2.8%	10.9%
Free cash flow yield	-8.5%	-8.0%	-4.8%	0.9%	0.0%	-1.2%	0.3%	5.0%
Earnings yield	-10.7%	-13.8%	-2.2%	-6.6%	3.1%	0.1%	1.1%	3.3%
Enterprise value	$960.2M	$1.6B	$4.1B	$2.8B	$6.8B	$4.7B	$3.6B	$2.6B
Net debt / EBITDA	-2.1×	-1.7×	12.62×	-1.84×	-0.59×	0.94×	2.41×	0.05×
Cash conversion cycle (days)	84	71	41	91	68	88	87	24