EVS Broadcast Equipment S.A.

EVS.BR

Communication Equipment · Technology

Price

€29.55

+1.05 (+3.68%)

Market Cap

€396.1M

Exchange

Euronext Brussels

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Strong

Cash Flow

Strong

Stability

Exceptional

Valuation

Good

Dividends

Mixed

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Share count rising — dilution

+3.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 13.6M (2021) → 14.1M (2025)

Winston Score History

The full picture

EVS Broadcast Equipment is a Belgian company that makes specialized video technology used by TV broadcasters and sports production teams. Its main products are live video servers and replay systems — the tools that let TV crews instantly replay a touchdown, a goal, or a race finish in slow motion. Major customers include sports broadcasters, live event producers, and media companies around the world, including networks that cover the Olympics and the FIFA World Cup.

EVS earns money by selling hardware, software licenses, and support contracts to its broadcast customers. The company is headquartered in Liège, Belgium, and generates most of its revenue from Europe and North America, though it serves clients globally. Its competitive edge comes from being deeply embedded in live sports production workflows, where switching vendors mid-broadcast is very risky for customers. The main growth driver is the ongoing shift toward IP-based and cloud-connected broadcast infrastructure, though a slowdown in major live sports rights spending could weigh on demand.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+16.8% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+30.9% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

€45M/ year

↑ Rising (+8% vs prior year)

21.8% of revenue

In line with sector average (15%)

Investing heavily in future products and technology

Insider Activity

9.4%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

€80M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Heavy R&D investment

EVS Broadcast Equipment S.A. is putting 22% of revenue into R&D and that number is rising. And they're generating enough cash to self-fund it.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

68.5%

Premium pricing power — 68.5% gross margin

Profit after running costs

Operating Margin

14.6%

Healthy — 14.6% operating margin

Return on the money invested

ROCE

18.1%

Strong — 18.1% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+16.6%

Fast-growing sales (+16.6% YoY)

Profit growth

EPS YoY

+28.9%

Earnings growing fast (+28.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

108%

Turns 108% of profit into real cash

Spare cash per sale

FCF Margin

15.9%

Converts sales into free cash efficiently (15.9%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.02

Conservative — low debt load (0.02)

Covers its interest

Interest Cover

31.66x

Comfortably covers interest (31.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

9.5x

Attractive valuation — P/E 9.5

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-0.5

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

3.59%

Moderate income — 3.59% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

-14.5%

Dividend cut (-14.5% YoY) — warning sign

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