Evotec AG (EVO) vs Kamada Ltd. (KMDA)

Evotec AG and Kamada Ltd. are both Drug Manufacturers Specialty & Generic companies. Evotec AG is the larger, with a market value of $630.4M against $396.3M — 1.6× the size. Evotec AG has negative trailing earnings, so its P/E is not meaningful; Kamada Ltd. trades at 18.1×. Kamada Ltd. grew revenue faster over the last twelve months: 13.2% against 2.15%. Kamada Ltd. has the higher net margin (11.6% vs −26.2%) and the higher return on invested capital (8.47% vs 0.00%). Across the 19 metrics below, Kamada Ltd. leads on 14 and Evotec AG on 5.

Valuation

Metric EVO KMDA Drug Manufacturers Specialty & Generic median
P/E n/m 18.13 20.55
P/S 0.72 2.08 2.08
P/B 0.81 1.48 1.79
Price to free cash flow n/m 15.16 16.29
EV/EBITDA n/m 8.01 12.22
EV/Sales 0.74 1.80 2.87
Earnings yield (36.25%) 5.52% (15.94%)
Free cash flow yield (32.04%) 6.60% 0.00%

Profitability

Metric EVO KMDA Drug Manufacturers Specialty & Generic median
Gross margin 11.42% 40.82% 53.51%
Operating margin (21.35%) 14.51% 0.00%
Net margin (26.20%) 11.60% (2.45%)
Free cash flow margin 0.00% 13.72% 0.00%
Return on equity 0.00% 8.40% (0.80%)
Return on assets 0.00% 5.92% (1.67%)
Return on invested capital 0.00% 8.47% 0.00%

Growth

Metric EVO KMDA Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) 2.15% 13.17% 5.22%
EPS growth (last fiscal year) 44.89% 40.00% 42.91%
Revenue growth, 5-year CAGR 9.28% 6.25% 7.24%
Net income growth, 5-year CAGR 0.00% 3.34% 0.00%

Health

Metric EVO KMDA Drug Manufacturers Specialty & Generic median
Debt to equity 0.72 0.02 0.04
Current ratio 2.33 4.06 2.41
Net debt to EBITDA (0.64) (1.59) 1.01

Dividend

Metric EVO KMDA Drug Manufacturers Specialty & Generic median
Dividend yield — 6.10% 1.45%
Payout ratio — 1.11 0.27

Size

Metric EVO KMDA Drug Manufacturers Specialty & Generic median
Market cap 630.44m 396.33m 315.39m

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