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EVE Health Group Limited (AU:EVE)
ASX:EVE
Australian Market

EVE Health Group Limited (EVE) AI Stock Analysis

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AU:EVE

EVE Health Group Limited

(Sydney:EVE)

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Neutral 41 (OpenAI - 5.2)
Rating:41Neutral
Price Target:
AU$0.02
▲(0.00% Upside)
EVE Health Group Limited's overall stock score is primarily impacted by its weak financial performance, characterized by declining revenues and profitability issues. Technical analysis indicates bearish trends, and valuation metrics are unattractive due to negative earnings. The absence of earnings call insights and corporate events further limits the score.
Positive Factors
Low leverage / conservative capital structure
A very low debt-to-equity ratio gives EVE substantial financial flexibility and lowers insolvency risk over the medium term. This conservatism supports the firm's ability to fund operations or restructuring without heavy interest burdens, preserving runway during turnaround efforts.
Improved free cash flow alignment
Improving free cash flow and a stable FCF-to-net-income ratio indicate reported losses are reflecting in cash generation trends. Over several months this supports internal funding for working capital or small investments, reducing dependence on external financing if the trend continues.
Gross profit margin improvement
Rising gross margins point to better unit economics via improved pricing or cost control. If maintained, higher gross margins provide a structural lever to reach operating profitability as fixed costs are absorbed or reduced, improving long-term margin sustainability.
Negative Factors
Declining revenues
A significant year-over-year revenue decline erodes scale and makes fixed costs a larger burden, constraining margin recovery and limiting resources for R&D and marketing. Persistent top-line weakness undermines prospects for sustainable profit restoration.
Persistent negative profitability and return on equity
Negative net profit margins and a negative ROE indicate the business is destroying shareholder value. Over the medium term this limits retained earnings for reinvestment, undermines balance sheet strengthening, and constrains the company’s capacity to finance growth internally.
Negative operating cash flow / poor cash conversion
Continued negative operating cash flow shows the business is not converting reported results into cash, forcing reliance on financing or asset sales. Structurally weak cash conversion reduces resilience, limits investment capacity, and heightens liquidity risk during downturns.

EVE Health Group Limited (EVE) vs. iShares MSCI Australia ETF (EWA)

EVE Health Group Limited Business Overview & Revenue Model

Company DescriptionEve Health Group Limited, together with its subsidiaries, engages in the production and distribution of nutrition, health, and wellness products in Australia, New Zealand, the Asia Pacific, and North America. It provides organic tea tree oils; and distributes botanical oils, as well as supplies essential oils, hydrosols, extracts, carrier oils, and seed oils. The company also offers organic raw honey and raw honey probiotic concentrates; and contract manufacturing services. In addition, it offers medical nutrition solutions for chronic and lifestyle diseases, including Gluco Smooth for type 2 diabetes that reduces the post-meal blood sugar levels; and dietary interventions. The company was formerly known as EVE Investments Limited. Eve Health Group Limited was incorporated in 2003 and is based in Subiaco, Australia.
How the Company Makes MoneyEVE Health Group Limited generates revenue through multiple streams, primarily by offering subscription-based telehealth services, which provide users with access to healthcare professionals and resources. Additionally, the company earns income from the sale of medical devices tailored for women's health, as well as licensing agreements for its proprietary health information platforms. Strategic partnerships with healthcare providers and organizations further enhance EVE's market reach and contribute to its financial stability, allowing the company to tap into broader networks and customer bases.

EVE Health Group Limited Financial Statement Overview

Summary
EVE Health Group Limited faces significant financial challenges, with declining revenues and persistent profitability issues. Despite a low leverage position, the company struggles to generate returns on equity. Cash flow improvements are noted, but operational cash flow difficulties persist.
Income Statement
35
Negative
EVE Health Group Limited has experienced declining revenue growth, with a notable decrease of 13.44% in the latest year. The company has consistently reported negative net profit margins, indicating ongoing profitability challenges. Gross profit margins have shown some improvement, but EBIT and EBITDA margins remain negative, reflecting operational inefficiencies.
Balance Sheet
45
Neutral
The company's debt-to-equity ratio is low at 0.03, suggesting limited leverage and a conservative capital structure. However, the return on equity is negative, indicating that the company is not generating returns on shareholders' equity. The equity ratio is relatively stable, showing a solid equity base compared to total assets.
Cash Flow
40
Negative
EVE Health Group Limited has shown improvement in free cash flow growth, but operating cash flow remains negative, indicating cash flow challenges. The operating cash flow to net income ratio is negative, suggesting that the company is not effectively converting its net income into cash flow. The free cash flow to net income ratio is stable at 1.0, indicating that free cash flow aligns with net income.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue1.73M1.73M2.13M2.33M2.01M2.80M
Gross Profit824.03K824.03K876.96K827.83K-1.00M-713.50K
EBITDA-1.45M-1.43M-1.51M-2.18M-4.53M-2.79M
Net Income-1.58M-1.58M-1.90M-4.04M-5.37M-3.63M
Balance Sheet
Total Assets4.12M4.12M2.52M4.13M8.07M11.92M
Cash, Cash Equivalents and Short-Term Investments903.42K903.42K106.17K192.48K1.10M3.16M
Total Debt91.28K91.28K74.85K4.28K492.39K1.01M
Total Liabilities572.45K572.45K1.30M1.01M1.14M1.74M
Stockholders Equity3.55M3.55M1.22M3.12M6.93M10.19M
Cash Flow
Free Cash Flow-1.62M-1.62M-1.11M-1.65M-3.80M-2.51M
Operating Cash Flow-1.62M-1.62M-1.11M-1.65M-3.77M-2.24M
Investing Cash Flow2.13M2.13M874.27K498.46K-26.05K-263.38K
Financing Cash Flow279.09K279.09K146.37K240.69K1.74M529.43K

EVE Health Group Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
62
Neutral
$20.33B14.63-3.31%3.23%1.93%-12.26%
43
Neutral
AU$30.90M36.526.76%
43
Neutral
AU$6.66M-0.61-21.84%79.99%
42
Neutral
AU$8.01M-2.78-77.48%63.30%70.00%
41
Neutral
AU$5.98M-1.84-60.84%-18.70%20.83%
37
Underperform
AU$13.76M-555.97%88.48%51.61%
* Consumer Defensive Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:EVE
EVE Health Group Limited
0.02
>-0.01
-30.00%
AU:CCO
Fiji Kava Limited
AU:HCT
Holista Colltech Limited
0.08
0.06
250.00%
AU:NGS
Nutritional Growth Solutions Ltd.
0.02
-0.02
-50.00%
AU:OMG
Forbidden Foods Ltd
0.01
0.00
0.00%

EVE Health Group Limited Corporate Events

EVE Health Moves Into Commercial Phase With First Dyspro Prescriptions and Libbo Manufacturing Milestone
Jan 30, 2026

EVE Health Group has transitioned from development to early commercialisation in the December 2025 quarter, with first patient prescriptions of Dyspro™ under Australian regulatory pathways and completion of the initial commercial manufacturing run of Libbo™, which is now in national distribution and positioned for near-term prescribing via telehealth and pharmacies. The company strengthened its clinical and patient engagement infrastructure through a national telehealth patient support agreement with hubMed, launch of the Reclaim My Cycle education and research platform for women with period pain, appointment of its first Medical Science Liaison to drive prescriber education, and a $1.1 million capital raising to accelerate the rollout and regulatory progression of both flagship products, leaving it with $0.9 million in cash and signaling growing investor confidence in its commercialisation strategy.

The most recent analyst rating on (AU:EVE) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on EVE Health Group Limited stock, see the AU:EVE Stock Forecast page.

EVE Health Group Finalises First Commercial Production of Libbo Erectile Dysfunction Treatment
Jan 30, 2026

EVE Health Group has completed the first commercial manufacturing run of Libbo, its oral dissolving film treatment for erectile dysfunction, and delivered inventory to a national distribution partner, moving the product from development into commercial launch. With quality-assured stock now integrated into national warehousing, logistics and fulfilment systems, and telehealth prescribing and pharmacy channels in place, the company is positioned for imminent market entry, advancing its men’s health portfolio and underpinning its broader strategy to build scalable, revenue-generating pharmaceutical offerings in the sizable and growing erectile dysfunction treatment market.

The most recent analyst rating on (AU:EVE) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on EVE Health Group Limited stock, see the AU:EVE Stock Forecast page.

EVE Health Director Stuart Gunzburg Increases Stake with On‑Market Share Purchase
Jan 8, 2026

EVE Health Group Limited has disclosed a change in the shareholding of director Stuart Gunzburg, who acquired 200,000 ordinary shares in the company on 2 January 2026 via an on‑market trade for a total consideration of A$4,200. Following the transaction, Gunzburg’s direct holding remains at 7,936,508 ordinary shares, while his indirect interests through various associated entities increased to 1,180,555 ordinary shares and 1,000,000 unlisted options, signalling a modest increase in his overall equity exposure and aligning his interests more closely with shareholders, though without indicating any broader strategic shift at the company.

The most recent analyst rating on (AU:EVE) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on EVE Health Group Limited stock, see the AU:EVE Stock Forecast page.

EVE Health Group Issues New Equity Securities as Part of Employee Incentive Scheme
Dec 5, 2025

EVE Health Group Limited announced the issuance of 11,300,000 new unquoted equity securities, specifically options exercisable at 6 cents and expiring on December 31, 2028. This move is part of an employee incentive scheme, which could potentially enhance employee engagement and align their interests with the company’s growth objectives.

The most recent analyst rating on (AU:EVE) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on EVE Health Group Limited stock, see the AU:EVE Stock Forecast page.

EVE Health Group Issues New Unquoted Securities
Dec 5, 2025

EVE Health Group Limited has announced the issuance of 22,999,998 unquoted securities, which are options exercisable at 6 cents and set to expire on December 31, 2027. This issuance is part of a previously announced transaction, indicating strategic financial maneuvers that may impact the company’s market positioning and stakeholder interests.

The most recent analyst rating on (AU:EVE) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on EVE Health Group Limited stock, see the AU:EVE Stock Forecast page.

EVE Health Group Successfully Passes All Resolutions at General Meeting
Dec 4, 2025

EVE Health Group announced that all resolutions proposed at its General Meeting on December 4, 2025, were successfully passed by a poll. This outcome supports the company’s strategic initiatives, including the ratification and approval of various securities and options, which are expected to strengthen its market position and facilitate the commercialization of its innovative pharmaceutical products.

The most recent analyst rating on (AU:EVE) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on EVE Health Group Limited stock, see the AU:EVE Stock Forecast page.

EVE Health Group Announces Director’s Shareholding Change
Nov 21, 2025

EVE Health Group Limited has announced a change in the director’s interest notice for Stuart Gunzburg. The change involves an off-market transfer of 20,502,645 ordinary shares, which were previously held indirectly through CBLW Pty Ltd. This transfer is part of a Deed of Settlement, and the shares will remain under voluntary escrow until June 12, 2026. This adjustment in shareholding does not involve any cash consideration and reflects a strategic realignment of interests within the company’s leadership.

EVE Health Group Launches Innovative Products for Women’s and Men’s Health
Nov 19, 2025

EVE Health Group Limited has announced the launch of two innovative products: Dyspro, a fast-acting non-hormonal gummy for menstrual pain, and Libbo, a rapid-onset oral strip for erectile dysfunction. These products target the large, underserved global markets for dysmenorrhoea and erectile dysfunction, valued at US$10.92 billion and US$5.31 billion respectively. The company’s patent-pending nano-emulsion technology enhances the speed and effectiveness of these formulations. Dyspro has already been launched in Australia, with Libbo expected to follow in December, marking a significant step in the company’s commercialisation efforts.

EVE Health Group Enhances Patient Care with New Telehealth Partnership
Nov 19, 2025

EVE Health Group Limited has signed a Patient Support Telehealth Services Agreement with hubMed Pty Ltd to enhance care for patients using its products, Dyspro™ and Libbo™, for women’s and men’s health conditions. This agreement aims to improve continuity of care and patient confidence by providing accessible telehealth consultations with registered nurses, reinforcing the safe use of EVE’s therapies. The initiative is expected to address significant unmet needs in both women’s and men’s health, potentially improving patient outcomes and adherence to treatment.

EVE Health Group Enhances Patient Support with New Telehealth Agreement
Nov 18, 2025

EVE Health Group Limited has signed a Patient Support Telehealth Services Agreement with hubMed Pty Ltd to enhance care for patients using EVE’s products for women’s and men’s health conditions. This partnership aims to improve continuity of care through regular telehealth consultations, supporting patient adherence and timely clinical guidance. The initiative is expected to strengthen EVE’s market positioning by providing better patient outcomes and expanding their digital ecosystem to support product launches.

EVE Health Group Passes All AGM Resolutions
Nov 5, 2025

EVE Health Group announced that all resolutions presented at its Annual General Meeting were passed by a poll. This includes the adoption of the remuneration report, the re-election of a director, approval of an additional 10% capacity, and the issuance of securities under an employee incentive plan. These decisions reflect strong shareholder support and could positively impact the company’s strategic initiatives and market positioning.

EVE Health Group Limited Announces General Meeting for Shareholders
Nov 3, 2025

EVE Health Group Limited has announced a General Meeting of Shareholders to be held on December 4, 2025, in Subiaco, Western Australia. Shareholders are encouraged to participate by attending in person or voting by proxy, with proxy forms to be submitted 48 hours prior to the meeting. This meeting is a crucial event for shareholders to engage with the company’s governance and decision-making processes.

EVE Health Group Introduces New Employee Incentive Plan
Nov 3, 2025

EVE Health Group Limited has announced the issuance of up to 12,300,000 unlisted options to key personnel and directors as part of its Employee Incentive Plan. This initiative aims to align compensation with shareholder value creation, support talent retention, and focus on achieving key commercial and regulatory milestones in its health portfolios. The options, which require shareholder approval for directors, have specific vesting conditions tied to service and performance targets, including share price milestones and product registrations.

EVE Health Group Appoints First Medical Science Liaison to Boost Product Adoption
Nov 2, 2025

EVE Health Group Limited has appointed its first dedicated Medical Science Liaison (MSL) to lead national medical education and engagement programs, marking a significant step in its commercial rollout strategy. This appointment aims to build confidence among prescribers and broaden patient access to EVE’s products, Dyspro™ and Libbo™, with plans to expand the MSL team throughout 2026, enhancing the company’s medical capability and supporting its growth in the pharmaceutical industry.

EVE Health Group Advances Commercial Rollout of Innovative Health Products
Oct 31, 2025

EVE Health Group Limited announced significant progress in the commercial rollout of its products Dyspro™ and Libbo™. The company has completed the first patient prescriptions for Dyspro™, a cannabinoid-based gummy for women’s health issues, and placed its first commercial order for Libbo™, an oral dissolving film for erectile dysfunction. EVE has also launched an online platform, Reclaim My Cycle, to support women’s health education and prescriber resources. Additionally, a $1.1 million placement was completed to accelerate these initiatives, and a Scientific Advisory Board was established to guide the company’s evidence-based strategy.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Nov 18, 2025