Latest Ratios: P/E Ratio -8.8x · EV/EBITDA N/A · ROE -11.3%. (2003–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $995M | $1.1B | $1.5B | $4.2B | $2.9B | $7.9B | $5.6B | $3.8B | $2.9B | $2.3B | $1.0B |
| Enterprise Value | $1.0B | $1.1B | $1.6B | $4.5B | $3.0B | $7.7B | $5.7B | $4.1B | $2.9B | $2.5B | $976M |
| P/E Ratio → | -8.77 | — | — | — | — | 36.54 | 917.50 | 98.85 | 35.57 | 100.37 | 38.90 |
| P/S Ratio | 1.15 | 1.44 | 1.85 | 5.31 | 3.80 | 12.79 | 11.26 | 8.62 | 7.83 | 9.04 | 6.27 |
| P/B Ratio | 1.07 | 1.34 | 1.55 | 3.71 | 2.41 | 5.74 | 6.37 | 7.19 | 6.91 | 7.02 | 4.82 |
| P/FCF | — | — | — | — | 116.90 | 2399.60 | — | 373.19 | 22.89 | — | 18.02 |
| P/OCF | — | — | 80.96 | 113.91 | 13.89 | 64.66 | 126.18 | 91.15 | 18.80 | 215.08 | 15.30 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.48 | 2.02 | 5.70 | 3.95 | 12.49 | 11.43 | 9.09 | 7.84 | 9.52 | 5.93 |
| EV / EBITDA | — | — | — | 97.98 | 28.50 | 69.28 | 54.75 | 36.42 | 27.06 | 42.08 | 22.57 |
| EV / EBIT | — | — | — | — | — | 31.34 | 166.96 | 106.87 | 39.46 | 91.40 | 28.31 |
| EV / FCF | — | — | — | — | 121.23 | 2343.01 | — | 393.44 | 22.93 | — | 17.06 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.3% | 8.3% | 14.4% | 22.4% | 23.2% | 24.5% | 25.1% | 29.8% | 29.8% | 32.0% | 35.6% |
| Operating Margin | -17.9% | -17.9% | -17.9% | -6.1% | 2.8% | 6.6% | 9.7% | 14.0% | 20.6% | 14.6% | 19.1% |
| Net Profit Margin | -13.1% | -13.1% | -24.6% | -10.7% | -23.4% | 34.9% | 1.3% | 8.5% | 22.4% | 9.4% | 16.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -11.3% | -11.3% | -18.9% | -7.3% | -13.7% | 19.0% | 0.9% | 7.9% | 22.2% | 8.9% | 13.7% |
| ROA | -5.4% | -5.4% | -9.4% | -3.7% | -7.8% | 10.6% | 0.4% | 3.5% | 11.7% | 4.8% | 8.6% |
| ROIC | -10.5% | -10.5% | -8.5% | -2.6% | 1.3% | 2.8% | 4.2% | 8.0% | 13.1% | 9.2% | 14.5% |
| ROCE | -9.1% | -9.1% | -8.5% | -2.6% | 1.1% | 2.3% | 3.5% | 7.1% | 15.5% | 10.7% | 12.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.55 | 0.55 | 0.47 | 0.73 | 0.43 | 0.37 | 0.68 | 0.97 | 0.27 | 0.57 | 0.13 |
| Debt / EBITDA | — | — | — | 17.93 | 4.87 | 4.60 | 5.75 | 4.67 | 1.05 | 3.26 | 0.67 |
| Net Debt / Equity | — | 0.04 | 0.14 | 0.27 | 0.09 | -0.14 | 0.10 | 0.39 | 0.01 | 0.37 | -0.26 |
| Net Debt / EBITDA | — | — | — | 6.70 | 1.02 | -1.67 | 0.81 | 1.87 | 0.05 | 2.11 | -1.27 |
| Debt / FCF | — | — | — | — | 4.33 | -56.59 | — | 20.26 | 0.04 | — | -0.96 |
| Interest Coverage | -9.75 | -9.75 | -15.58 | -5.87 | -10.71 | 26.61 | 4.05 | 5.09 | 28.79 | 21.27 | 22.63 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.07 | 2.07 | 1.98 | 1.94 | 3.18 | 3.39 | 3.16 | 2.62 | 1.27 | 0.73 | 2.31 |
| Quick Ratio | 1.99 | 1.99 | 1.89 | 1.88 | 3.09 | 3.31 | 3.10 | 2.56 | 1.24 | 0.70 | 2.25 |
| Cash Ratio | 1.29 | 1.29 | 1.15 | 1.30 | 2.09 | 2.65 | 2.31 | 1.79 | 0.76 | 0.41 | 1.74 |
| Asset Turnover | — | 0.43 | 0.42 | 0.35 | 0.33 | 0.28 | 0.27 | 0.32 | 0.49 | 0.39 | 0.47 |
| Inventory Turnover | 23.70 | 23.70 | 21.92 | 19.63 | 19.36 | 18.09 | 22.57 | 25.99 | 46.54 | 19.41 | 24.61 |
| Days Sales Outstanding | — | 102.87 | 100.02 | 103.65 | 133.95 | 104.39 | 122.03 | 113.92 | 59.25 | 99.14 | 66.18 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 2.7% | 0.1% | 1.0% | 2.8% | 1.0% | 2.6% |
| FCF Yield | — | — | — | — | 0.9% | 0.0% | — | 0.3% | 4.4% | — | 5.5% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $355M | $355M | $354M | $353M | $333M | $308M | $299M | $295M | $290M | $265M |
Operational scale and liquidity
Based on reported financial statements, Evotec's ROIC has trended into negative territory, reaching -5.5% in 2026Q1, which highlights a fundamental inability to generate returns on invested capital that exceed the company's cost of funding while maintaining its current high-cost, asset-heavy drug discovery platform infrastructure.
The persistent decline in ROIC suggests that the capital deployed into J.POD facilities and R&D initiatives is failing to yield the expected productivity gains. Investors should monitor whether this decay is a temporary byproduct of capacity ramp-up or a structural issue where the platform's complexity outweighs its commercial output.
According to recent quarterly data, Evotec's cash conversion cycle has expanded to 92 days in 2026Q1, reflecting a significant deterioration in working capital efficiency compared to the 55-day cycle observed in 2023Q4, which suggests increasing difficulty in managing receivables and optimizing supplier payment terms effectively.
The lengthening of the DSO to 108 days indicates that the company is struggling to collect on its service contracts, potentially signaling a shift in customer payment behavior or a decline in bargaining power. This inefficiency exacerbates the company's cash burn, as more capital remains trapped in the operating cycle rather than funding core R&D.
As evidenced by the 2026Q1 current ratio of 1.68, Evotec's liquidity position has tightened significantly from the 2.12 level seen in 2025Q3, indicating that the company's ability to cover short-term obligations is becoming increasingly sensitive to the timing of volatile milestone payments and ongoing operational cash outflows.
While the current ratio remains above unity, the downward trend suggests a narrowing margin of safety for a company with negative operating margins. The reliance on non-recurring milestone payments to bolster liquidity warrants further investigation, as any delay in these payments could force the company to seek dilutive financing.
Based on the company's unique hybrid model, the P/S ratio is frequently misapplied by market participants, as it obscures the high volatility of milestone-driven revenue and fails to account for the underlying structural costs required to maintain the company's proprietary PanOmics and J.POD discovery platform.
Investors should instead focus on the 'cost per partnered program' or 'milestone conversion rate' to better gauge the true economic value of the pipeline. Relying on P/S multiples ignores the fact that a significant portion of revenue may be low-margin service work that does not contribute to long-term shareholder value creation.
Includes 30+ ratios · 23 years · Updated daily
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Quick answers to the most common questions about buying EVO stock.
Evotec SE's current P/E ratio is -8.8x. The historical average is 77.0x.
Evotec SE's return on equity (ROE) is -11.3%. The historical average is -7.9%.
Based on historical data, Evotec SE is trading at a P/E of -8.8x. Compare with industry peers and growth rates for a complete picture.
Evotec SE has 8.3% gross margin and -17.9% operating margin.