I’d like to take a moment to address the premise of your question – that eval() is “evil“. The word “evil“, as used by programming language people, usually means “dangerous”, or more precisely “able to cause lots of harm with a simple-looking command”. So, when is it OK to use something dangerous? When you know what the danger is, and when you’re taking the appropriate precautions.
To the point, let’s look at the dangers in the use of eval(). There are probably many small hidden dangers just like everything else, but the two big risks – the reason why eval() is considered evil – are performance and code injection.
On to your specific case. From what I understand, you’re generating the strings yourself, so assuming you’re careful not to allow a string like “rm -rf something-important” to be generated, there’s no code injection risk (but please remember, it’s very very hard to ensure this in the general case). Also, if you’re running in the browser then code injection is a pretty minor risk, I believe.
As for performance, you’ll have to weight that against ease of coding. It is my opinion that if you’re parsing the formula, you might as well compute the result during the parse rather than run another parser (the one inside eval()). But it may be easier to code using eval(), and the performance hit will probably be unnoticeable. It looks like eval() in this case is no more evil than any other function that could possibly save you some time.