olivLaw · European equity research
Vetoquinol S.A VETO.PA
France · Euronext Paris · ISIN FR0004186856 · Vertical: Listed companies from France
At the close of 05 Nov 2026, Vetoquinol S.A (VETO.PA) stock was 88.50 EUR (+0.80% on the day), with market capitalisation 1.0 bn EUR, P/E 17.9 on diluted EPS of 4.94 EUR over the last 12 months, beta 0.43, 52-week range 66.10–91.00 EUR.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 68.8
- strong (55–70)
- Bollinger (20, 2)
- 73.05 – 89.03
- in the upper half of the band · %B 0.97 · band width 19.7%
- SMA 50 / 200
- 76.22 / 76.24
- mixed trend
- MACD (12, 26, 9)
- 3.15 / 2.45
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +16.4% | −0.6% | +17.1 pp | — |
| 3 months | +24.1% | −4.2% | +28.3 pp | — |
| 6 months | +16.9% | +4.3% | +12.6 pp | — |
| Year to date | +6.0% | +7.5% | −1.5 pp | — |
| 1 year | +22.1% | +9.9% | +12.1 pp | −6.8% |
| 3 years | +5.4% | +49.8% | −44.5 pp | −15.9% |
| 5 years | −42.2% | +42.8% | −85.0 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 67 percentile of its own 3-quarter history (min 15.0, median 16.9, max 21.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 529.3 m | 539.2 m | 525.7 m |
| Revenue YoY | unavailable | +1.9% | −2.5% |
| Net income | 55.6 m | 58.7 m | 57.4 m |
| Net income YoY | unavailable | +5.6% | −2.3% |
| Diluted EPS | 4.70 | 4.98 | 4.94 |
| Diluted EPS YoY | unavailable | +6.0% | −0.8% |
| net % | 10.5% | 10.9% | 10.9% |
| Free cash flow | 74.5 m | 71.3 m | 55.1 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 221.1 m EUR
- Financial debt
- 158.0 k EUR
- Net debt
- -220.9 m EUR
- Equity
- 591.4 m EUR
- Total assets
- 763.6 m EUR
- Debt / equity
- 0.00x
- Current ratio
- 3.08x
- ROE
- 9.8%
- ROA
- 7.6%
- FCF margin
- 10.5%
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 529.3 m | 539.2 m | 525.7 m | esef· 12 May 2026verified |
| Operating income | 74.3 m | 77.3 m | 78.3 m | esef· 12 May 2026verified |
| Pre-tax income | 76.9 m | 81.0 m | 80.3 m | esef· 12 May 2026verified |
| Income tax | 21.3 m | 22.3 m | 22.9 m | esef· 12 May 2026verified |
| Net income | 55.6 m | 58.7 m | 57.4 m | esef· 12 May 2026verified |
| Diluted EPS | 4.70 | 4.98 | 4.94 | esef· 12 May 2026verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 147.5 m | 206.3 m | 221.1 m | esef· 12 May 2026verified |
| Receivables | 99.2 m | 94.8 m | 99.0 m | esef· 12 May 2026verified |
| Inventories | 103.5 m | 112.3 m | 122.0 m | esef· 12 May 2026verified |
| Current assets | 363.4 m | 421.2 m | 458.0 m | esef· 12 May 2026verified |
| Property, plant & equipment, net | 75.7 m | 76.6 m | 81.7 m | esef· 12 May 2026verified |
| Goodwill | 75.0 m | 76.4 m | 70.9 m | esef· 12 May 2026verified |
| Intangibles (excl. goodwill) | 154.0 m | 142.1 m | 129.7 m | esef· 12 May 2026verified |
| Total assets | 692.2 m | 744.1 m | 763.6 m | esef· 12 May 2026verified |
| Accounts payable | 126.0 m | 128.4 m | 134.8 m | esef· 12 May 2026verified |
| Long-term debt | 172.0 k | 178.0 k | 158.0 k | esef· 12 May 2026verified |
| Current liabilities | 139.4 m | 141.5 m | 148.7 m | esef· 12 May 2026verified |
| Total liabilities | 165.1 m | 168.2 m | 172.2 m | esef· 12 May 2026verified |
| Equity | 527.1 m | 575.9 m | 591.4 m | esef· 12 May 2026verified |
| Shares outstanding at year end | 11.8 m | 11.8 m | 11.6 m | esef· 12 May 2026derived |
Cash flow · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 89.4 m | 85.8 m | 72.1 m | esef· 12 May 2026verified |
| Capex | 14.9 m | 14.5 m | 17.0 m | esef· 12 May 2026verified |
| Free cash flow | 74.5 m ≈ | 71.3 m ≈ | 55.1 m ≈ | esef· 12 May 2026derived |
| Investing cash flow | -18.9 m | -15.6 m | -20.6 m | esef· 12 May 2026verified |
| Financing cash flow | -15.5 m | -16.0 m | -25.1 m | esef· 12 May 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 45.8% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 1.0 bn EUR
Key indicators
Coverage and freshness
Score by group
46% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 54.79 – 147.22 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E54.79 – 147.22 (Mid 84.63)20 companies used · median multiple 17.1x · quartiles 11.1x – 29.8x74SW.PA, ABEO.PA, AC.PA, ADP.PA, AF.PA, AI.PA, ALBON.PA, ALCIS.PA, ALCLA.PA, ALFER.PA, ALHEX.PA, ALO.PA, ALPWG.PA, ALSOG.PA, ANTIN.PA, ARAMI.PA, ATE.PA, AUB.PA, AURE.PA, BB.PA
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 45.8% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 15.1% | 71 (vs peers) | 23% |
| Net margin · Quality | 10.9% | 92 (vs peers) | 14% |
| FCF conversion · Quality | 96.0% | 94 (on a fixed band) | 14% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 3.1x | 100 (on a fixed band) | 9% |
| P/E (TTM) · Valuation | 17.9x | 52 (vs peers) | 23% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 5.4% | 67 (on a fixed band) | 18% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality83/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation59/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
VETOQUINOL S.A (VETO.PA). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 525.7 m EUR in 2025; YoY growth -2.5%; net margin 10.9%; ROE 9.8%.
The estimated value range is 54.79–147.22 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 84.63 EUR, the price of 88.50 EUR leaves a potential of -4.4% (value / price − 1) and a margin of safety of -4.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 45.8% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 15.1%
- Net margin: 10.9%
- FCF conversion: 96.0%
- Current ratio: 3.1x
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from France · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AI.PAL'air Liquide Societe Anonyme Pour L'etude Et L'exploitation Des Procedes Georges Claude | 109.3 bn | 33.2 | 12.9% | 12.2% | −2.0% | +26% / +32% |
| AC.PAAccor | 13.8 bn | 30.7 | 9.6% | 8.0% | +0.6% | +6% / +56% |
| ADP.PAAeroports De Paris | 11.7 bn | 34.1 | 7.8% | 5.6% | +12.1% | −7% / +4% |
| AKE.PAArkema | 7.1 bn | 115.4 | 0.9% | 0.7% | −5.0% | +12% / −37% |
| ALO.PAAlstom | 5.8 bn | 18.3 | 3.1% | 1.7% | +3.7% | −51% / −4% |
| AF.PAAir France - Klm | 4.3 bn | 13.6 | — | 1.0% | +4.8% | +20% / +9% |
| ATE.PAAlten | 3.1 bn | 29.5 | 4.8% | 2.6% | −1.1% | +33% / −29% |
| BB.PASociete Bic | 2.7 bn | 31.3 | 5.0% | 4.1% | −4.8% | +32% / +5% |
| ANTIN.PAAntin Infrastructure Partners | 1.4 bn | 13.0 | 21.9% | 36.6% | −8.1% | −24% / −35% |
| VETO.PAVetoquinol S.A | 1.0 bn | 17.9 | 9.8% | 10.9% | −2.5% | +21% / −7% |
| 74SW.PA74software | 792.7 m | 20.9 | 8.9% | 8.5% | +44.8% | −13% / +41% |
| AUB.PAAubay | 667.4 m | 17.8 | 13.6% | 6.3% | +11.3% | +3% / +45% |
| ASY.PAAssystem | 507.1 m | 69.9 | 2.5% | 1.1% | +7.4% | −19% / −18% |
| ATO.PAAtos Se | 483.0 m | — | -23,400.0% | -17.5% | −16.5% | −45% / −94% |
| ARAMI.PAAramis Group | 298.8 m | 15.0 | 10.0% | 0.8% | +6.3% | −33% / −16% |
| ARVEN.PAArverne Group | 246.1 m | — | -14.0% | -115.3% | +27.0% | +20% / −35% |
| BGO.PACompagnie Chargeurs Invest | 189.4 m | — | -8.6% | -5.7% | −2.9% | unavailable / unavailable |
| ALCIS.PACatering International & Services | 145.0 m | 28.4 | 9.3% | 1.9% | +5.8% | +39% / +107% |
| ALCGM.PACegedim | 144.6 m | — | -2.6% | -1.2% | +10.9% | −26% / −49% |
| ATEME.PAAteme | 144.0 m | 151.3 | 2.8% | 1.0% | +2.2% | +82% / +77% |
| ALHEX.PAHexaom | 144.0 m | 6.7 | 9.9% | 2.2% | +13.1% | −32% / +7% |
| ALBON.PACompagnie Lebon | 111.7 m | 16.5 | 4.2% | 8.8% | −17.9% | +6% / +8% |
| ALHYF.PALhyfe | 75.8 m | — | -33.4% | -570.5% | +287.2% | unavailable / unavailable |
| ALFER.PASergeferrari Group | 61.5 m | 11.5 | 5.1% | 1.5% | +7.4% | −33% / −27% |
| ABEO.PAAbeo | 60.8 m | 7.3 | 6.9% | 3.0% | +12.6% | −13% / −54% |
1- and 3-year price returns: for VETO.PA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 48.63 Total return -45% · Per year -45% | 86.28 Total return -3% · Per year -3% | 130.39 Total return 47% · Per year 47% |
| 3 years | 40.78 Total return -54% · Per year -23% | 82.01 Total return -7% · Per year -3% | 136.98 Total return 55% · Per year 16% |
| 5 years | 34.20 Total return -61% · Per year -17% | 77.95 Total return -12% · Per year -3% | 143.90 Total return 63% · Per year 10% |
- Exit P/E± 20.50
- Net margin± 14.35
- Annual revenue growth± 12.63
- Annual dilution± 1.21
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202512 May 2026
- Annual report 202429 Apr 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.