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Evotec AG
(NASDAQ:EVO)
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Rating:44Neutral
Price Target:
$1.50
▼(-20.63% Downside)
Action:Reiterated
Date:09/13/26
The score is primarily weighed down by weak financial performance—declining revenue, compressed margins, ongoing net losses, and negative operating/free cash flow. Technicals add further pressure with a clear downtrend versus key moving averages and negative MACD, despite oversold readings. Valuation remains unattractive/uncertain due to negative earnings (negative P/E) and no dividend yield support.
Positive Factors
Integrated R&D platform
Evotec’s integrated capabilities let customers access multiple stages of drug development through one partner, while its automation, data-driven and AI-supported platforms can improve coordination and scalability. This breadth supports customer relevance and may strengthen retention across programs.
Negative Factors
Revenue and margin contraction
Declining revenue combined with materially lower gross margins indicates weaker operating leverage and reduced profitability across the business. Unless demand, pricing or mix improves, the compressed margin base can limit reinvestment capacity and make earnings recovery more dependent on cost actions.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated R&D platform
Evotec’s integrated capabilities let customers access multiple stages of drug development through one partner, while its automation, data-driven and AI-supported platforms can improve coordination and scalability. This breadth supports customer relevance and may strengthen retention across programs.
Read all positive factors
Evotec AG (EVO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$560.23M
Dividend Yield4.93%
Average Volume (3M)157.32K
Price to Earnings (P/E)―
Beta (1Y)1.19
Revenue Growth-0.86%
EPS Growth-35.64%
CountryUS
Employees4,553
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.56
Shares Outstanding355,819,950
10 Day Avg. Volume95,001
30 Day Avg. Volume157,324
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)1.14
Price to Sales (P/S)1.23
P/FCF Ratio-11.82
Enterprise Value/Market Cap1.80
Enterprise Value/Revenue1.40
Enterprise Value/Gross Profit13.53
Enterprise Value/Ebitda-11.80
Forecast
1Y Price Target
$4.00Price Target Upside111.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.72
Revenue Forecast (FY)$665.45M
Evotec AG Business Overview & Revenue Model
Company Description
Evotec SE operates globally as a dedicated partner, specializing in the discovery and advancement of new pharmaceutical products for the biotechnology and pharmaceutical sectors. Its comprehensive research and development initiatives encompass a b...
Evotec AG Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Neutral
The call presents a balanced picture: near-term financials were weak with material revenue declines (H1 revenues down ~19%) and negative adjusted EBITDA (H1 EUR -42.7m), and management revised full-year 2026 guidance downward due mainly to timing shifts in strategic partnership milestone recognition. Offsetting these weaknesses are encouraging commercial leading indicators (inbound inquiries +~30%, proposals >45%, base D&PD net sales +~28% in H1), a healthy pipeline of 10–20 strategic partnership opportunities, strong liquidity (EUR 465.6m), active cost-savings via the Horizon program (~EUR 75m run-rate by 2027), and recent senior hires to improve commercial conversion. Overall, the issues appear driven largely by timing and phasing rather than loss of pipeline quality, but 2026 results and guidance remain meaningfully impacted.Positive Updates
Solid Liquidity Position
Total liquidity of EUR 465.6 million as of June 30, 2026 (up EUR 20.8m QoQ from EUR 444.8m), supported by approx. $100m gross proceeds from Gilead's acquisition of Tubulis and a EUR 116m convertible bond placement, after a scheduled debt repayment of ~EUR 65.8m.
Negative Updates
Significant Revenue Declines in H1
Group revenues for H1 2026 expected at EUR 300.1m, down ~19% year-over-year; Q2 revenues approx. EUR 143.5m, down ~16% YoY.
Read all updates
Q2-2026 Updates
Positive
Negative
Solid Liquidity Position
Total liquidity of EUR 465.6 million as of June 30, 2026 (up EUR 20.8m QoQ from EUR 444.8m), supported by approx. $100m gross proceeds from Gilead's acquisition of Tubulis and a EUR 116m convertible bond placement, after a scheduled debt repayment of ~EUR 65.8m.
Read all positive updates
Company Guidance
Evotec revised its full-year 2026 guidance to group revenues of EUR 570–610m at incurred FX (EUR 595–635m at constant FX) and adjusted group EBITDA of EUR -70m to -105m at incurred FX (EUR -60m to -90m at constant FX), down from prior expectations after preliminary H1 results of EUR 300.1m group revenues (Q2 ~EUR 143.5m, -16% YoY; H1 -19% YoY) and adjusted EBITDA of EUR -42.7m in H1 (Q2 -EUR 20.8m); the revision reflects that roughly 40% of the revenue shortfall is due to phasing/milestone deferral into 2027, ~45% from slower-than-expected new strategic partnership contributions, and ~15% from weaker sales-to-revenue conversion, plus an FX headwind of ~EUR 13m to H1 revenues; liquidity stood at EUR 465.6m at June 30 (up EUR 20.8m Q/Q), supported by ~USD 100m Tubulis proceeds, a EUR 116m convertible bond, and a EUR 65.8m scheduled debt repayment, while operational indicators show encouraging signs for recovery (inbound inquiries +~30%, proposals +>45%, proposal value +>20%, base D&PD net sales +~28% in H1, average sales cycle shortened >15%) and Horizon cost savings targeted at ~EUR 75m run-rate by end‑2027 (20–30% of that in 2026).Evotec AG Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
56
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 719.86M | 757.26M | 796.97M | 781.43M | 751.45M | 618.03M |
| Gross Profit | 74.47M | 62.66M | 114.88M | 175.05M | 174.06M | 151.54M |
| EBITDA | -85.36M | -13.89M | -80.66M | 24.13M | -57.61M | 316.63M |
| Net Income | -199.96M | -99.43M | -196.08M | -83.91M | -175.66M | 215.51M |
Balance Sheet | ||||||
| Total Assets | 1.57B | 1.78B | 1.91B | 2.25B | 2.26B | 2.24B |
| Cash, Cash Equivalents and Short-Term Investments | 465.59M | 476.19M | 396.80M | 604.11M | 707.31M | 858.50M |
| Total Debt | 475.87M | 447.50M | 443.54M | 815.35M | 506.67M | 512.92M |
| Total Liabilities | 908.40M | 964.64M | 959.98M | 1.13B | 1.07B | 857.48M |
| Stockholders Equity | 665.58M | 813.36M | 952.52M | 1.12B | 1.19B | 1.38B |
Cash Flow | ||||||
| Free Cash Flow | -168.36M | -78.74M | -114.02M | -179.56M | 24.46M | 3.29M |
| Operating Cash Flow | -118.93M | -9.06M | 18.22M | 36.44M | 205.81M | 122.24M |
| Investing Cash Flow | 209.18M | 159.86M | -71.19M | -13.29M | -412.80M | -243.85M |
| Financing Cash Flow | -18.15M | -30.93M | -161.42M | 71.96M | -58.15M | 398.43M |
Evotec AG Technical Analysis
Negative
1.89
Price Trends
1.69
Negative
2.04
Negative
2.57
Negative
Market Momentum
-0.06
Negative
45.00
Neutral
87.02
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EVO, the sentiment is Negative. The current price of 1.89 is above the 20-day moving average (MA) of 1.53, above the 50-day MA of 1.69, and below the 200-day MA of 2.57, indicating a bearish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 45.00 is Neutral, neither overbought nor oversold. The STOCH value of 87.02 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EVO.
Evotec AG Risk Analysis
Evotec AG disclosed 10 risk factors in its most recent earnings report. Evotec AG reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Evotec AG Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $10.75B | 36.59 | 7.37% | 0.63% | -10.52% | -55.45% | |
66 Neutral | $2.51B | 155.49 | 1.43% | ― | -8.81% | -96.21% | |
55 Neutral | $7.32B | 108.26 | 3.72% | ― | 10.79% | -81.14% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $242.60M | -5.82 | -376.95% | ― | ― | ― | |
46 Neutral | $344.68M | -20.38 | -24.94% | ― | 12.27% | 23.08% | |
44 Neutral | $560.23M | -2.54 | -26.46% | 4.93% | -0.86% | -35.64% |
* Healthcare Sector Average
EVO
Evotec AG
1.50
-2.62
-63.59%
ALKS
Alkermes
43.63
13.91
46.80%
RDY
Dr Reddy's Laboratories
13.21
-1.18
-8.21%
LFCR
Lifecore Biomedical
6.40
-0.33
-4.90%
HCM
HUTCHMED
14.36
-0.50
-3.36%
TKNO
Alpha Teknova
6.42
0.97
17.80%
Evotec AG Corporate Events
Evotec Names Joanna Holbrook Chief Scientific Officer as Investor Holdings Shift
Oct 15, 2026
On October 15, 2026, Evotec SE announced the appointment of Dr. Joanna Holbrook as Chief Scientific Officer and member of the Management Board, effective November 1, 2026. Holbrook, a seasoned RD leader with more than 25 years of experience across...
Evotec SE Nine-Month 2026 Results Beat Expectations as Full-Year Guidance Reaffirmed
Oct 14, 2026
Evotec SE, a Hamburg-based biopharmaceutical drug discovery and development specialist, reported preliminary unaudited figures for the first nine months of 2026 that outperformed market expectations. The company derives its revenues from partnerin...
Evotec SE Announces Chief Scientific Officer Transition as Long-Serving CSO Steps Down
Sep 29, 2026
Evotec SE, a Hamburg-based life science company listed on Nasdaq and Frankfurt, specialises in AI-enhanced drug discovery and development across small molecules, biologics and cell therapies. With proprietary technology platforms and a network tha...
Evotec’s Just – Evotec Biologics Starts Phase 1 Trial of Orthopoxvirus Antibodies for U.S. Biodefense
Sep 9, 2026
Evotec SE announced on September 9, 2026, that its CDMO subsidiary Just – Evotec Biologics has initiated a first-in-human Phase 1 clinical trial of JST-018, a monoclonal antibody cocktail targeting orthopoxviruses, under the U.S. Department ...
Evotec SE Posts Weaker Half-Year 2026 Results but Presses Ahead With ‘Horizon’ Transformation and Biologics Push
Aug 13, 2026
On 13 August 2026, Evotec SE released its half-year 2026 interim report, showing that group revenues fell 19.2% year-on-year to €300.1 million and adjusted EBITDA deteriorated to a loss of €42.7 million amid weak conversion of sales to...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.