EQUI.TS GmbH is an innovative, equity research boutique based in Frankfurt (Germany). It is operated by its original founders and has established a reputation as a quality research provider over a period of more than 10 years. Although it generally does not focus on any particular branch of industry, its analyses often revolve around technology and growth stocks.
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SRT is occupying the important market trends (especially biologics), whose growth is considered valid. The new medium-term forecast presented on 17.03.26 is, according to CEO M. Grosse, "realistic but ambitious." It aims for organic revenue growth (in cc) of 8 - 11% YoY from 2027 onwards for the coming years – about 100 - 200 BP YoY above market growth – (thus somewhat more moderate than "Sartorius 2028"). Both divisions are expected to contribute to this, with the bioprocess business (BPS) – as...
According to KPIs, the FY 25 guidance was achieved with a Q4 final sprint – including extraordinary income from the SANDOZ deal– with €788m (-1.3% YoY) or €41m (adj. EBITDA margin: -0.7%) (details: 08.04.26). The persistently weak demand in the early drug discovery (D&PD) market could not be fully offset by the well-performing business of Just-Evotec Biologics (JEB). Evotec is struggling with undercapacity utilization. The business model must be adjusted more consistently. With clear cost contro...
Das Geschäftsmodell muss konsequenter angepasst werden. Mit klarer Kostenkontrolle und stärkerer Fokussierung auf Technologieplattformen, sollen die bekannten KPI`s – mit 24 Monaten Verzögerung – ab 2030 erreicht werden. Die Guidance FY 25 wurde laut KPI`s mit einem Q4-Schlussspurt – inkl. a.o. Ertrag aus SANDOZ-Deal- mit € 788 Mio. (-1,3 %) bzw. € 41 Mio. (adj. EBITDA-Marge: -0,7 %) erreicht (Details: 08.04.26). Die anhaltend schwache Nachfrage im Markt für frühe Arzneimittelforschung (D&PD) k...
The 26 guidance (see below) was suspended on 22.01.26. An updated forecast is to be published by 06.05.26 (H1/26 report) at the latest. In our opinion, the consensus adjustments have not yet been made; in our opinion, the share price already reflects a halving of profits in FY26.
SRT is occupying the important market trends (especially biologics), whose growth is considered valid. The new medium-term forecast presented on 17.03.26 is, according to CEO M. Grosse, "realistic but ambitious." It aims for organic revenue growth (in cc) of 8 - 11% YoY from 2027 onwards for the coming years – about 100 - 200 BP YoY above market growth – (thus somewhat more moderate than "Sartorius 2028"). Both divisions are expected to contribute to this, with the bioprocess business (BPS) – as...
According to KPIs, the FY 25 guidance was achieved with a Q4 final sprint – including extraordinary income from the SANDOZ deal– with €788m (-1.3% YoY) or €41m (adj. EBITDA margin: -0.7%) (details: 08.04.26). The persistently weak demand in the early drug discovery (D&PD) market could not be fully offset by the well-performing business of Just-Evotec Biologics (JEB). Evotec is struggling with undercapacity utilization. The business model must be adjusted more consistently. With clear cost contro...
Das Geschäftsmodell muss konsequenter angepasst werden. Mit klarer Kostenkontrolle und stärkerer Fokussierung auf Technologieplattformen, sollen die bekannten KPI`s – mit 24 Monaten Verzögerung – ab 2030 erreicht werden. Die Guidance FY 25 wurde laut KPI`s mit einem Q4-Schlussspurt – inkl. a.o. Ertrag aus SANDOZ-Deal- mit € 788 Mio. (-1,3 %) bzw. € 41 Mio. (adj. EBITDA-Marge: -0,7 %) erreicht (Details: 08.04.26). Die anhaltend schwache Nachfrage im Markt für frühe Arzneimittelforschung (D&PD) k...
The 26 guidance (see below) was suspended on 22.01.26. An updated forecast is to be published by 06.05.26 (H1/26 report) at the latest. In our opinion, the consensus adjustments have not yet been made; in our opinion, the share price already reflects a halving of profits in FY26.
