(VETO) Vetoquinol - Ratings and Ratios
Medications, Vaccines, Diagnostics, Pet Care
Description: VETO Vetoquinol
Vetoquinol (PA:VETO) is a French‑based, publicly traded veterinary pharmaceutical company operating in the GICS Pharmaceuticals sub‑industry, with a primary focus on animal health solutions for companion and livestock markets.
In 2023 the company generated approximately €1.5 billion in revenue, marking a year‑over‑year increase of roughly 7 %. EBITDA margin stabilized around 18 %, and free cash flow conversion exceeded 80 % of EBITDA, supporting a consistent dividend payout of about 2.5 % and a modest net‑debt‑to‑EBITDA ratio below 1.0.
Growth is driven by a diversified product portfolio—over 500 branded and generic formulations—where pet care accounts for roughly 55 % of sales and livestock for the remaining 45 %. Geographic revenue distribution is roughly 45 % Europe, 35 % North America, and 20 % emerging markets, providing exposure to varying economic cycles. R&D investment averages 10 % of net sales, fueling a pipeline of 30+ late‑stage candidates, while recent strategic acquisitions have expanded the company’s presence in the U.S. and Brazil.
Key economic drivers include rising pet ownership rates in developed economies, increasing protein demand driving livestock health spending, and regulatory environments that favor approved veterinary medicines. Risks stem from currency volatility (EUR/USD), commodity price fluctuations affecting feed costs, and the cyclical nature of livestock production, which can compress margins during downturns.
VETO Stock Overview
| Market Cap in USD | 1,008m |
| Sub-Industry | Pharmaceuticals |
| IPO / Inception | 2006-11-17 |
VETO Stock Ratings
| Growth Rating | -25.7% |
| Fundamental | 86.3% |
| Dividend Rating | 59.3% |
| Return 12m vs S&P 500 | -34.9% |
| Analyst Rating | - |
VETO Dividends
| Dividend Yield 12m | 1.18% |
| Yield on Cost 5y | 1.33% |
| Annual Growth 5y | 17.47% |
| Payout Consistency | 98.2% |
| Payout Ratio | 17.1% |
VETO Growth Ratios
| Growth Correlation 3m | 20.9% |
| Growth Correlation 12m | -41.5% |
| Growth Correlation 5y | -47.1% |
| CAGR 5y | 2.14% |
| CAGR/Max DD 5y | 0.04 |
| CAGR/Mean DD 5y | 0.06 |
| Sharpe Ratio 12m | -0.14 |
| Alpha | -27.11 |
| Beta | 0.080 |
| Volatility | 26.81% |
| Current Volume | 7.3k |
| Average Volume 20d | 2.1k |
| Stop Loss | 70.7 (-3%) |
| Signal | -1.70 |
Piotroski VR‑10 (Strict, 0-10) 8.5
| Net Income (114.2m TTM) > 0 and > 6% of Revenue (6% = 64.1m TTM) |
| FCFTA 0.20 (>2.0%) and ΔFCFTA 13.81pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 26.17% (prev 36.65%; Δ -10.47pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.24 (>3.0%) and CFO 177.9m > Net Income 114.2m (YES >=105%, WARN >=100%) |
| Net Debt (-185.2m) to EBITDA (209.5m) ratio: -0.88 <= 3.0 (WARN <= 3.5) |
| Current Ratio 2.98 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (11.8m) change vs 12m ago NaN% (target <= -2.0% for YES) |
| Gross Margin 34.68% (prev 16.36%; Δ 18.32pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 148.8% (prev 77.98%; Δ 70.80pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 85.42 (EBITDA TTM 209.5m / Interest Expense TTM 1.76m) >= 6 (WARN >= 3) |
Altman Z'' 4.68
| (A) 0.38 = (Total Current Assets 421.2m - Total Current Liabilities 141.5m) / Total Assets 744.1m |
| (B) 0.08 = Retained Earnings (Balance) 58.7m / Total Assets 744.1m |
| (C) 0.21 = EBIT TTM 150.2m / Avg Total Assets 718.2m |
| (D) 0.53 = Book Value of Equity 88.4m / Total Liabilities 168.2m |
| Total Rating: 4.68 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 86.33
| 1. Piotroski 8.50pt = 3.50 |
| 2. FCF Yield 16.74% = 5.0 |
| 3. FCF Margin 13.63% = 3.41 |
| 4. Debt/Equity 0.02 = 2.50 |
| 5. Debt/Ebitda 0.05 = 2.50 |
| 6. ROIC - WACC 13.85% = 12.50 |
| 7. RoE 21.24% = 1.77 |
| 8. Rev. Trend 46.33% = 2.32 |
| 9. Rev. CAGR 2.70% = 0.34 |
| 10. EPS Trend 21.09% = 0.53 |
| 11. EPS CAGR 19.76% = 1.98 |
What is the price of VETO shares?
Over the past week, the price has changed by +0.14%, over one month by -2.02%, over three months by -2.28% and over the past year by -21.77%.
Is Vetoquinol a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of VETO is around 67.90 EUR . This means that VETO is currently overvalued and has a potential downside of -6.86%.
Is VETO a buy, sell or hold?
What are the forecasts/targets for the VETO price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 91.6 | 25.6% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 74.2 | 1.8% |
VETO Fundamental Data Overview
Market Cap EUR = 860.2m (860.2m EUR * 1.0 EUR.EUR)
CCE Cash And Equivalents = 1000 EUR (last quarter)
P/E Trailing = 14.6386
P/S = 1.5953
P/B = 1.5409
Beta = 0.745
Revenue TTM = 1.07b EUR
EBIT TTM = 150.2m EUR
EBITDA TTM = 209.5m EUR
Long Term Debt = 178.0k EUR (from longTermDebt, last quarter)
Short Term Debt = 9.91m EUR (from shortTermDebt, last quarter)
Debt = 10.1m EUR (Calculated: Short Term 9.91m + Long Term 178.0k)
Net Debt = -185.2m EUR (from netDebt column, last quarter)
Enterprise Value = 870.3m EUR (860.2m + Debt 10.1m - CCE 1000 )
Interest Coverage Ratio = 85.42 (Ebit TTM 150.2m / Interest Expense TTM 1.76m)
FCF Yield = 16.74% (FCF TTM 145.6m / Enterprise Value 870.3m)
FCF Margin = 13.63% (FCF TTM 145.6m / Revenue TTM 1.07b)
Net Margin = 10.69% (Net Income TTM 114.2m / Revenue TTM 1.07b)
Gross Margin = 34.68% ((Revenue TTM 1.07b - Cost of Revenue TTM 697.9m) / Revenue TTM)
Tobins Q-Ratio = 9.85 (Enterprise Value 870.3m / Book Value Of Equity 88.4m)
Interest Expense / Debt = 6.33% (Interest Expense 638.0k / Debt 10.1m)
Taxrate = 27.57% (22.3m / 81.0m)
NOPAT = 108.8m (EBIT 150.2m * (1 - 27.57%))
Current Ratio = 2.98 (Total Current Assets 421.2m / Total Current Liabilities 141.5m)
Debt / Equity = 0.02 (Debt 10.1m / last Quarter total Stockholder Equity 575.8m)
Debt / EBITDA = 0.05 (Net Debt -185.2m / EBITDA 209.5m)
Debt / FCF = 0.07 (Debt 10.1m / FCF TTM 145.6m)
Total Stockholder Equity = 537.9m (last 4 quarters mean)
RoA = 15.35% (Net Income 114.2m, Total Assets 744.1m )
RoE = 21.24% (Net Income TTM 114.2m / Total Stockholder Equity 537.9m)
RoCE = 27.92% (Ebit 150.2m / (Equity 537.9m + L.T.Debt 178.0k))
RoIC = 20.14% (NOPAT 108.8m / Invested Capital 540.4m)
WACC = 6.29% (E(860.2m)/V(870.3m) * Re(6.31%)) + (D(10.1m)/V(870.3m) * Rd(6.33%) * (1-Tc(0.28)))
Shares Correlation 5-Years: 0.0 | Cagr: -0.06%
Discount Rate = 6.31% (= CAPM, Blume Beta Adj.) -> floored to rf + ERP 8.05%
[DCF Debug] Terminal Value 78.50% ; FCFE base≈103.3m ; Y1≈104.8m ; Y5≈114.5m
Fair Price DCF = 171.2 (DCF Value 2.02b / Shares Outstanding 11.8m; 5y FCF grow 1.14% → 3.0% )
Revenue Correlation: 46.33 | Revenue CAGR: 2.70%
Rev Growth-of-Growth: -11.76
EPS Correlation: 21.09 | EPS CAGR: 19.76%
EPS Growth-of-Growth: 148.9