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EVO

Evotec SE

EVO

Evotec SE • NASDAQ
$3.33 ▲ 2.15% (+0.07)
Market Cap $1.18 B
52w High $5.10
52w Low $2.84
Dividend Yield 0%
P/E -6.4
Volume 14.09K
Outstanding Shares 355.20M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $163.887M ▼ $44.44M ▲ $-43.087M ▲ -26.291% ▼ $-0.12 $-17.643M ▲
Q2-2025 $171.235M ▼ $36.367M ▼ $-43.478M ▼ -25.391% ▼ $-0.12 ▼ $-37.424M ▼
Q1-2025 $199.978M ▼ $47.234M ▲ $-31.577M ▲ -15.79% ▲ $-0.09 ▲ $-27.444M ▼
Q4-2024 $221.228M ▲ $39.313M ▼ $-40.839M ▼ -18.46% ▲ $-0.11 $-5.998M ▲
Q3-2024 $184.89M $44.776M $-39.634M -21.437% $-0.11 $-45.008M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $237.268M ▼ $1.773B ▼ $972.564M ▼ $800.136M ▼
Q2-2025 $408.501M ▲ $2.123B ▲ $1.13B ▲ $992.827M ▲
Q1-2025 $401.233M ▲ $2.101B ▲ $1.116B ▲ $985.295M ▲
Q4-2024 $396.8M ▲ $1.913B ▼ $959.977M ▼ $952.525M ▼
Q3-2024 $338.469M $2.222B $1.141B $1.081B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-43.087M ▲ $-67.557M ▼ $-7.241M ▲ $-12.134M ▲ $-88.553M ▼ $-87.766M ▼
Q2-2025 $-43.478M ▼ $26.556M ▲ $-21.943M ▼ $-14.696M ▼ $-17.552M ▲ $2.696M ▲
Q1-2025 $-31.577M ▲ $-31.808M ▼ $-21.607M ▼ $35.429M ▲ $-21.01M ▼ $-53.646M ▼
Q4-2024 $-40.839M ▼ $74.219M ▲ $16.921M ▲ $-29.326M ▼ $75.089M ▲ $49.138M ▲
Q3-2024 $-39.634M $42.599M $-25.919M $-7.184M $9.415M $14.264M

Five-Year Company Overview

Income Statement

Income Statement Evotec’s sales have grown steadily over the past five years, showing that demand for its services and partnerships is rising. However, profits have moved in the opposite direction. After a brief period of solid profitability a few years ago, the company has slipped into widening operating and net losses. This points to costs – likely R&D, staff, and building out new sites and technologies – growing faster than revenue. The business is scaling, but the economic benefits of that scale are not yet showing up in earnings. The key question is whether the recent losses represent a temporary investment phase or a more structural profitability challenge.

Balance Sheet

Balance Sheet The balance sheet shows a company that has grown significantly in size but has also used up part of its financial cushion. Total assets have expanded compared with five years ago, reflecting heavy investment in technology, facilities, and partnerships. Cash was once very strong but has come down, while debt increased from earlier levels and only recently started to ease a bit. Equity has built up over time but has been eroded somewhat by recent losses. Overall, Evotec still has a meaningful capital base, but its margin for error is narrower than when cash was at its peak, making future capital discipline more important.

Cash Flow

Cash Flow Evotec consistently generates positive cash from its day‑to‑day operations, but the margin of safety has shrunk. Operating cash flow peaked a couple of years ago and has since weakened, which aligns with the move into losses. At the same time, the company has been spending heavily on investments, particularly on facilities and technology platforms, leading to mostly negative free cash flow. In simple terms, the business is still funding a large growth and innovation program out of a relatively modest underlying cash engine, which keeps it dependent on either existing cash, debt, or future improvements in profitability.

Competitive Edge

Competitive Edge Evotec occupies a differentiated spot between traditional contract research organizations and classic biotech companies. Its strength lies in offering an integrated, end‑to‑end discovery and development platform, coupled with a partnership model where it shares both risk and upside with large pharma, biotech, and academia. The broad co‑owned pipeline, deep relationships with blue‑chip partners, and capabilities in both small molecules and biologics give it a strong strategic position and meaningful switching costs for clients. On the flip side, the business is highly dependent on the success and continuity of partner programs, on volatile milestone payments, and on staying ahead in a crowded field of research and manufacturing providers. Execution risk and the inherently uncertain nature of drug development remain central challenges.

Innovation and R&D

Innovation and R&D Innovation is clearly at the core of Evotec’s identity and strategy. The company has built advanced platforms in stem‑cell disease models, multi‑omics data analysis, and AI‑driven discovery, which are designed to make R&D more predictive and efficient. The Just – Evotec Biologics unit adds a distinctive manufacturing technology that aims to produce biologic drugs faster and more cheaply than traditional plants. Evotec also taps into early‑stage science through academic partnerships and “BRIDGE” programs, feeding its long‑term pipeline. The trade‑off is financial: this innovation engine is expensive, contributes to current losses, and requires careful prioritization. The recent strategic refocus and pipeline pruning suggest management is trying to concentrate R&D on the highest‑potential areas to improve the balance between science and profitability.

Summary

Evotec today looks like a scaled, innovation‑driven R&D platform with clear strategic strengths but a less comfortable financial picture than a few years ago. Revenues have grown well, and the company has assembled a distinctive mix of technologies, partnerships, and biologics capabilities that could generate meaningful long‑term value if key programs and collaborations succeed. At the same time, profitability has deteriorated, cash cushions have declined, and heavy investment continues to weigh on free cash flow. The coming years will likely hinge on two things: first, whether Evotec’s co‑owned pipeline and biologics ventures can convert into more stable, higher‑margin income; and second, whether its cost base and capital spending can be brought in line with that opportunity without weakening its scientific edge. The story is one of strong strategic positioning paired with execution and financial discipline risks that need to be monitored closely.

NEWS

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November 5, 2025 · 2:00 AM UTC

Evotec SE Reports 9M 2025 Results: Continued Strong Execution on Strategic Priorities

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November 4, 2025 · 4:30 PM UTC

In A Landmark Industry Transaction, Evotec Signs Agreement With Sandoz, Resulting In Payments Potentially Over US $650 M Plus Royalties

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October 29, 2025 · 5:10 AM UTC

Evotec SE to Announce Results for The First Nine Months 2025 on 05 November 2025

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