OTC · Financial Statements

Evolution AB (publ) (EVGGF) Financial Statements

$71.21 OTC: EVGGF Market Cap $13.71B

Evolution AB (publ) most recently reported annual revenue of $2.1B, net profit of $1.1B. Revenue grew at an average annual rate of 29.8% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Evolution AB (publ): Revenue rose from $115.0M in 2016 to $2.1B in 2025, a change of +1697.4% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 30.2% to 58.3%, a shift of +28.1 percentage points; the most recent year shows net profit of $1.1B.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$115.0M$178.0M$245.0M$366.0M$561.0M$1.1B$1.5B$1.8B$2.1B$2.1B
Operating Expenses$81.0M$112.0M$156.0M$208.0M$261.0M$415.0M$549.0M$610.0M$644.0M$861.0M
Operating Profit$35.0M$67.0M$89.0M$157.0M$300.0M$654.0M$908.0M$1.1B$1.4B$1.2B
Operating Margin30.2%37.5%36.5%43.0%53.4%61.2%62.3%65.2%68.8%58.3%
Other Income$0$0$0$0$-1.0M$-7.0M$-1.0M$6.0M$19.0M$41.0M
Interest$0$0$0$0$1.0M$3.0M$5.0M$5.0M$7.0M$6.0M
Depreciation$10.0M$13.0M$18.0M$26.0M$34.0M$79.0M$95.0M$53.0M$142.0M$163.0M
Profit Before Tax$35.0M$67.0M$89.0M$157.0M$299.0M$647.0M$907.0M$1.1B$1.4B$1.2B
Tax$8.3M$6.8M$6.6M$4.8M$4.7M$6.5M$7.0M$6.8M$13.6M$14.8M
Net Profit$32.0M$62.0M$83.0M$150.0M$285.0M$605.0M$843.0M$1.1B$1.2B$1.1B
EPS$0.18$0.34$0.46$0.82$1.57$2.68$3.68$4.93$5.91$5.33
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$453.0M$488.0M$501.0M$513.0M$744.0M$749.0M$763.0M$775.0M$719.0M$789.0M$728.0M$506.0M
Operating Expenses$166.0M$177.0M$190.0M$199.0M$364.0M$331.0M$460.0M$469.0M$422.0M$489.0M$436.0M$215.0M
Operating Profit$287.0M$310.0M$312.0M$314.0M$379.0M$418.0M$303.0M$306.0M$297.0M$299.0M$293.0M$291.0M
Operating Margin63.4%63.7%62.1%61.2%51.0%55.8%39.8%39.5%41.3%37.9%40.2%57.5%
Interest$0$0$0$0$1.0M$0$1.0M$12.0M$0$0$0$0
Profit Before Tax$292.0M$311.0M$317.0M$321.0M$378.0M$425.0M$302.0M$295.0M$297.0M$352.0M$300.0M$294.0M
Tax$6.8M$6.7M$15.2M$15.3M$13.1M$11.3M$15.7M$15.7M$15.2M$12.9M$16.1M$16.4M
Net Profit$273.0M$283.0M$269.0M$269.0M$329.0M$377.0M$255.0M$248.0M$252.0M$307.0M$252.0M$246.0M
EPS$1.28$1.34$1.25$1.29$1.57$1.83$1.24$1.22$1.25$1.55$1.26$1.25

Over the 10 years reported for Evolution AB (publ), borrowings increased from $9.0M in 2016 to $91.0M in 2025, cash stood at $816.0M in the latest year, shareholders' equity was $1.0M, current assets covered current liabilities 1.66 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$103.0M$167.0M$241.0M$434.0M$3.2B$3.9B$4.4B$5.0B$5.3B$5.5B
Current Assets$63.0M$119.0M$179.0M$329.0M$499.0M$809.0M$1.1B$1.7B$2.0B$2.1B
Cash$26.0M$49.0M$85.0M$183.0M$222.0M$421.0M$533.0M$986.0M$801.0M$816.0M
Inventory$2.0M$0$1.0M$1.0M$1.0M$4.0M$8.0M$7.0M$9.0M$0
Receivables$19.0M$40.0M$48.0M$66.0M$121.0M$208.0M$287.0M$359.0M$422.0M$1.2B
Fixed Assets$24.0M$29.0M$40.0M$67.0M$106.0M$134.0M$190.0M$202.0M$251.0M$262.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$1.0M$2.0M$1.0M$1.0M$3.0M$11.0M$0$0$0$104.0M
Other Assets$0$0$0$12.0M$1.8B$2.2B$2.3B$2.3B$2.3B$2.4B
Total Liabilities$39.0M$57.0M$78.0M$153.0M$443.0M$712.0M$909.0M$967.0M$1.4B$1.4B
Current Liabilities$31.0M$50.0M$73.0M$138.0M$368.0M$370.0M$426.0M$561.0M$1.1B$1.2B
Borrowings$9.0M$8.0M$7.0M$25.0M$50.0M$68.0M$80.0M$79.0M$94.0M$91.0M
Other Liabilities$31.0M$50.0M$72.0M$128.0M$393.0M$644.0M$830.0M$888.0M$1.3B$1.4B
Equity$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M
Reserves$64.0M$110.0M$162.0M$281.0M$2.7B$3.2B$3.5B$4.0B$4.0B$4.1B

For Evolution AB (publ), operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $1.2B; free cash flow was positive in 10 of 10 years; financing activities used $530.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$40.0M$62.0M$100.0M$176.0M$316.0M$599.0M$877.0M$1.2B$1.3B$1.3B
Investing Cash Flow$-73.0M$-55.0M$-65.0M$-73.0M$-30.0M$-217.0M$-469.0M$-234.0M$-385.0M$-214.0M
Financing Cash Flow$0$0$1.0M$-4.0M$-18.0M$-91.0M$-76.0M$-116.0M$-678.0M$-530.0M
Net Cash Flow$6.0M$23.0M$36.0M$98.0M$39.0M$200.0M$111.0M$453.0M$-182.0M$113.0M
Free Cash Flow$9.0M$42.0M$67.0M$146.0M$279.0M$537.0M$781.0M$1.1B$1.2B$1.2B

Valuation & Return Ratios

MetricValue
PEG Ratio-1.26
EV / EBITDA7.76
FCF Yield10.14%
Quick Ratio1.77
Interest Coverage106.37
Return 1Y6.06%
Return 3Y—
Return 5Y—

Evolution AB (publ) (EVGGF) financials — frequently asked questions

What is Evolution AB (publ)'s annual revenue?

Evolution AB (publ) (EVGGF) reported annual revenue of $2.1B in its most recent fiscal year.

What is Evolution AB (publ)'s net profit?

Evolution AB (publ) (EVGGF) reported net profit of $1.1B in its most recent fiscal year.

What is EVGGF EV/EBITDA?

Evolution AB (publ)'s enterprise value to EBITDA (EV/EBITDA) ratio is 7.76.

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