Evotec operates a hybrid business model and offers a unique risk-reward profile for investors, with steady growth from its EVT Execute business and potential drug development upside from its EVT Innovate arm. We base our investment thesis for Evotec on supportive company-specific and macro trends and forecast healthy cash flows in the future. Our valuation of Evotec is virtually unchanged at €575m.
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Healthy cash flows in the future
Evotec operates a hybrid business model and offers a unique risk-reward profile for investors, with steady growth from its EVT Execute business and potential drug development upside from its EVT Innovate arm. We base our investment thesis for Evotec on supportive company-specific and macro trends and forecast healthy cash flows in the future. Our valuation of Evotec is virtually unchanged at €575m.