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Vetoquinol SA (VETO) Fair Value & Analysis

Healthcare · FR · Market cap €830M

VS Vetoquinol SA VETO · PA
Price€72.60
Fair Value€95.78
Upside+31.9%
Quality65/100
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Mixed Growth
Solidly profitable · 10.9% net margin
Low debt · generates free cash flow
1.28% dividend yield
Ranks above peers (11/15)
Moderate moat 53/100
Evidence: High Range €69.64 – €126.95 Share as image

Fair value as of: Jul 19, 2026

From 25 valuation models · updated 21 days ago

Fair value updated Jul 19, 2026, revised from €95.63 to €95.78 (+0.2%) since Jun 24, 2026. Share price +2.1% over the past month.

A solid business, screening 32% undervalued on our models.

What matters now

  • Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€69.64 to €126.95) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€145.59 €62.20 Fair Value €95.78 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range €62.20 – €145.59 · fair‑value band €69.64 – €126.95 · the €72.60 price screens below the €95.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Vetoquinol SA (VETO) currently trades at €72.60, while our model-based Fair Value estimate is €95.78, implying the stock looks roughly 31.9% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Vetoquinol SA generated revenue of €526M at a net margin of 10.9%. Revenue declined 2.4% year over year. It earns a return on equity of 9.8%. The balance sheet holds a net cash position of €206M. Fundamentals as of Jul 19, 2026

Our scenario range runs from €69.64 (bear case) to €126.95 (bull case); at €72.60, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 21% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at 32%, VETO screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €59.01 €71.82 €87.08 80
Residual Income €41.54 €44.78 €52.01 76
Rev-Margin DCF €66.77 €93.34 €122.00 74
All 25 models by family
DCF Models
FCF DCF €58.39 €72.56 €90.27 38
Owner Earnings €73.49 €93.11 €117.61 31
5Y Revenue Exit €66.77 €93.02 €125.53 39
5Y EBITDA Exit €85.15 €125.88 €171.76 41
5Y P/E Exit €76.97 €111.25 €145.64 38
10Y Revenue Exit €61.40 €82.77 €109.51 36
10Y EBITDA Exit €73.32 €103.12 €140.42 37
10Y P/E Exit €68.63 €94.06 €122.96 35
Earnings-Based
Graham-Dodd €33.52 €81.93 €106.00 54
PEG = 1.0 €14.66 €20.95 €27.23 46
EPV €56.98 €62.15 €66.47 59
Dividend Discount
Gordon GGM €6.95 €11.31 €15.80 70
DDM Multi-Stage €6.95 €9.85 €12.59 61
Multiples
P/E Multiple €81.33 €108.44 €135.55 63
P/S Multiple €62.85 €83.80 €104.75 58
P/B Multiple €62.85 €83.80 €104.75 55
EV/EBIT €99.33 €126.11 €152.89 53
EV/EBITDA €116.30 €148.73 €181.16 54
EV/Revenue €76.34 €100.91 €125.48 43
Asset-Based
NCAV (Graham) €25.44 €34.08 €50.87 50
Growth DCF
Growth DCF €59.01 €71.82 €87.08 80
Rev-Margin DCF €66.77 €93.34 €122.00 74
Economic Profit
Residual Income €41.54 €44.78 €52.01 76
ROIC Compounder €57.74 €64.86 €72.40 72
Growth Earnings
Growth-Adj P/E €62.05 €88.65 €115.24 68

Widest divergence: Multiples (€100.91) versus Dividend Discount (€9.85). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €526M
Revenue growth (YoY) -2.4%
Net margin 10.9%
Return on equity 9.8%
Free cash flow €51.3M FY2025
P/E ratio 14.6
More key figures
Operating margin 16.8%
EPS (TTM) €4.94
Dividend yield 1.3%
EPS growth (YoY) -5.1%
Net cash €206M FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 65 · Market factors (momentum, volatility) 44

Profitability 46
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 77
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Vetoquinol SA, a veterinary pharmaceutical company, designs, develops, and sells veterinary drugs and non-medicinal products for cattle, pigs, dogs, and cats in Europe, the Americas, and the Asia Pacific region.

Full company description

Vetoquinol SA, a veterinary pharmaceutical company, designs, develops, and sells veterinary drugs and non-medicinal products for cattle, pigs, dogs, and cats in Europe, the Americas, and the Asia Pacific region. It offers products in the areas of mobility, pain, and inflammation; dermatology, hygiene, and care; anti-parasite; udder health; antibiotics; reproduction; behavior management; internal medicine; and cardio-nephrology. The company was founded in 1933 and is headquartered in Lure, France. Vetoquinol SA is a subsidiary of Soparfin SCA.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Vetoquinol SA reported revenue of €526M in FY2025 versus €521M in FY2021, a compound +0.2%/yr. Reported net income was €57.3M in FY2025, compounding −2.3%/yr from FY2021.

Growth Quality 66/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€526M
Latest YoY
−2.5%
Avg. growth/yr (3Y)
−0.9%
Avg. growth/yr (5Y)
+4.2%
Avg. growth/yr (21Y)
+5.2%
Revenue +0.2%/yr
FY21 €521M
FY22 €540M
FY23 €529M
FY24 €539M
FY25 €526M
Net income −2.3%/yr
FY21 €62.9M
FY22 €48.0M
FY23 €55.6M
FY24 €58.7M
FY25 €57.3M

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Cite: Fair Value Calculator (2026). "Vetoquinol SA Fair Value". https://www.fairvalue-calculator.com/stock/VETO

Peer Group

Drug Manufacturers - Specialty & Generic · 626 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 65 · Top 25%
Fair Value upside +32% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 11% · Above median
Operating margin (TTM) 17% · Above median
Revenue growth -2% · Below median
Dividend yield (TTM) 1.3% · Below median

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/E (TTM) 14.5× · Cheaper than median
P/B 1.62× · Cheaper than median
P/S (TTM) 1.83× · Cheaper than median
P/FCF 18.7× · Pricier than 75% of peers
EV/EBITDA 7.1× · Cheaper than median
PEG 3.80× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 76 · sector 7
FUTURE 0 · sector 20
PAST 39 · sector 23
HEALTH 100 · sector 97
DIVIDEND 26 · sector 34

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.19 ¥25.94 -51%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,933 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹7,316 ₹1,943 -73%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,763 ₹1,329 -72%
PharmaEssentia Corporation 6446 1,285 TWD 221.01 TWD -83%
Cipla Limited CIPLA ₹1,439 ₹1,001 -30%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,151 ₹703.32 -39%
Lupin Limited LUPIN ₹2,443 ₹2,477 +1%
Mankind Pharma Limited MANKIND ₹2,484 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,211 ₹874.79 -28%

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Frequently asked questions

Is Vetoquinol SA (VETO) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €95.78 versus a price of €72.60, about +32% (undervalued).
What is the fair value of VETO?
Our model-based fair value for Vetoquinol SA is €95.78 (as of Jul 19, 2026), built from audited fundamentals. The current price is €72.60.
What is the quality score of VETO?
Vetoquinol SA has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Vetoquinol SA (VETO)?
Vetoquinol SA reported trailing-twelve-month revenue of about €526M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of VETO?
The net profit margin of Vetoquinol SA is about 10.9%, meaning it keeps roughly 10.9% of revenue as net income. Based on the latest reported figures.
Does Vetoquinol SA pay a dividend?
Vetoquinol SA currently shows a dividend yield of about 1.28% relative to its recent price (as of Jul 19, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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