Stock Analysis Report

Executive Summary

Virbac SA produces and sells medicines and vaccines for companion and food-producing animals in France and internationally.

Snowflake Analysis

Excellent balance sheet with proven track record.

Similar Companies

Share Price & News

How has Virbac's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: V16's share price has been volatile over the past 3 months.

Market Performance

7 Day Return




DE Pharmaceuticals


DE Market

1 Year Return




DE Pharmaceuticals


DE Market

Return vs Industry: V16 exceeded the German Pharmaceuticals industry which returned -11.1% over the past year.

Return vs Market: V16 exceeded the German Market which returned -20.9% over the past year.

Shareholder returns

7 Day10.2%2.9%-0.6%
30 Day-14.3%-15.8%-16.6%
90 Day-24.9%-20.6%-26.0%
1 Year16.1%16.1%-8.1%-11.1%-18.6%-20.9%
3 Year19.1%19.1%22.0%8.2%-19.0%-25.8%
5 Year-21.4%-22.1%11.5%-7.6%-21.1%-31.8%

Price Volatility Vs. Market

How volatile is Virbac's share price compared to the market and industry in the last 5 years?

Simply Wall St News

No news available


Is Virbac undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: V16 (€170.2) is trading below our estimate of fair value (€206.02)

Significantly Below Fair Value: V16 is trading below fair value, but not by a significant amount.

Price To Earnings Ratio

PE vs Industry: V16 is poor value based on its PE Ratio (27x) compared to the Pharmaceuticals industry average (20.5x).

PE vs Market: V16 is poor value based on its PE Ratio (27x) compared to the German market (16.6x).

Price to Earnings Growth Ratio

PEG Ratio: V16 is poor value based on its PEG Ratio (1.5x)

Price to Book Ratio

PB vs Industry: V16 is overvalued based on its PB Ratio (2.7x) compared to the DE Pharmaceuticals industry average (1.7x).

Next Steps

Future Growth

How is Virbac forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: V16's forecast earnings growth (18.1% per year) is above the savings rate (-0.4%).

Earnings vs Market: V16's earnings (18.1% per year) are forecast to grow faster than the German market (14.1% per year).

High Growth Earnings: V16's earnings are forecast to grow, but not significantly.

Revenue vs Market: V16's revenue (5% per year) is forecast to grow faster than the German market (3.9% per year).

High Growth Revenue: V16's revenue (5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: V16's Return on Equity is forecast to be low in 3 years time (12.9%).

Next Steps

Past Performance

How has Virbac performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: V16 has high quality earnings.

Growing Profit Margin: V16's current net profit margins (5.5%) are higher than last year (2.3%).

Past Earnings Growth Analysis

Earnings Trend: V16's earnings have declined by -7.8% per year over the past 5 years.

Accelerating Growth: V16's earnings growth over the past year (156.5%) exceeds its 5-year average (-7.8% per year).

Earnings vs Industry: V16 earnings growth over the past year (156.5%) exceeded the Pharmaceuticals industry 1.9%.

Return on Equity

High ROE: V16's Return on Equity (9.9%) is considered low.

Next Steps

Financial Health

How is Virbac's financial position?

Financial Position Analysis

Short Term Liabilities: V16's short term assets (€450.9M) exceed its short term liabilities (€372.5M).

Long Term Liabilities: V16's short term assets (€450.9M) exceed its long term liabilities (€398.9M).

Debt to Equity History and Analysis

Debt Level: V16's debt to equity ratio (77.3%) is considered high.

Reducing Debt: V16's debt to equity ratio has reduced from 117.7% to 77.3% over the past 5 years.

Debt Coverage: V16's debt is well covered by operating cash flow (30.8%).

Interest Coverage: V16's interest payments on its debt are well covered by EBIT (6.7x coverage).

Balance Sheet

Inventory Level: V16 has a high level of physical assets or inventory.

Debt Coverage by Assets: V16's debt is covered by short term assets (assets are 1.1x debt).

Next Steps


What is Virbac's current dividend yield, its reliability and sustainability?


Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate V16's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate V16's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if V16's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if V16's dividend payments have been increasing.

Current Payout to Shareholders

Dividend Coverage: V16 is not paying a notable dividend for the German market.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of V16's dividend in 3 years as they are not forecast to pay a notable one for the German market.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Éric Marée (66yo)

no data




Mr. Éric Marée serves as the President and Chief Executive Officer at Virbac SA and served as its Chairman of the Executive Board from December 15, 1999 to 2018 and Member of its Executive Board from 1999  ...

CEO Compensation Analysis

Compensation vs Market: Éric's total compensation ($USD0.00) is below average for companies of similar size in the German market ($USD1.93M).

Compensation vs Earnings: Éric's compensation has been consistent with company performance over the past year.

Leadership Team

Sébastien Huron
Chairman of the Executive Board2.33yrs€718.75k0.11% 1.5m
Habib Ramdani
CFO & Member of Executive Board3.83yrs€400.23kno data
Christian Karst
Executive VP of Corporate Development23.33yrs€603.12k0.069% 962.3k
Jean-Pierre Dick
Member of Executive Board23.33yrs€18.84k0.010% 145.3k
Éric Marée
CEO & Presidentno data€454.66kno data
Sandrine Brunel
Head of Corporate Communicationsno datano datano data
Francesca Cortella
Head of Corporate Human Resourcesno datano datano data
Marc Bistuer
Head of Global Industrial Operations & Corporate Quality Assuranceno datano datano data


Average Tenure


Average Age

Experienced Management: V16's management team is seasoned and experienced (13.6 years average tenure).

Board Members

Olivier Bohuon
Independent Member of the Supervisory Board9.25yrs€21.00kno data
Pierre Madelpuech
Vice Chairman of Supervisory Boardno data€21.00k0.0013% 18.2k
Marie-Hélène Dick-Madelpuech
Chairwoman of Supervisory Board14yrs€116.00k49.84% 693.9m
Xavier Yon
Non-Voting Member of the Supervisory Board5.83yrs€21.00kno data
Philippe Gaston Capron
Independent Member of the Supervisory Board16.25yrs€24.00k0.0052% 72.9k
Cyrille Y. Petit
Independent Member of Supervisory Board0.75yrno datano data
Solène Madelpuech
Member of Supervisory Board2.58yrs€21.00k0.00012% 1.7k
Sylvie Gueguen
Employee Representative of Supervisory Board1.25yrsno datano data


Average Tenure


Average Age

Experienced Board: V16's board of directors are considered experienced (5.8 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Virbac SA's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Virbac SA
  • Ticker: V16
  • Exchange: DB
  • Founded: 1968
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: €1.392b
  • Shares outstanding: 8.43m
  • Website: https://corporate.virbac.com

Number of Employees


  • Virbac SA
  • 13e rue LID - BP 27
  • cedex
  • Carros
  • Provence-Alpes-Côte d'Azur
  • 6511
  • France


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VIRPENXTPA (Euronext Paris)YesShare CapitalFREURJan 1992
0NM7LSE (London Stock Exchange)YesShare CapitalGBEURJan 1992
VRBC.FOTCPK (Pink Sheets LLC)YesShare CapitalUSUSDJan 1992
V16DB (Deutsche Boerse AG)YesShare CapitalDEEURJan 1992
VIRPPBATS-CHIXE (BATS 'Chi-X Europe')YesShare CapitalGBEURJan 1992


Virbac SA produces and sells medicines and vaccines for companion and food-producing animals in France and internationally. The company offers Boviseal, a suspension to prevent intramammary infections; Bovigen Scour, a vaccine used to protect calves against viral and bacterial infections; C.E.T. Veggiedent Fr3sh to treat oral and digestive causes of bad breath; Canigen vaccines; Clostrisan, a vaccine for the prevention of clostridiosis and botulism; Effipro bovis to treat tick, flea, and louse infestations; Epiotic, an ear cleanser; and Eradia to treat clostridium infections and giardiasis. It also provides Fosfosal, a trace mineral injectable supplementation; Grofactor, a growth promoter; Inflacalm, a multi-species anti-inflammatory; Iverhart Max Soft Chew, a chewable tablets to prevent heartworm disease; Milpro, an internal parasiticide tablets; Moxiheart, an internal parasiticide; and Multimin, a trace element injectable supplement. In addition, the company offers Suigen PCV2, a vaccine against porcine circovirus; Penclox, an antibiotic lactating intramammary targeting common bacteria causing mastitis; Physiological eye cleanser, an isotonic solution for cleaning the eye and surrounding areas; Porcistart, a feed supplement; Propofol, an anesthetic; Quadrant to treat infections; and Rabigen mono, a rabies vaccine. Further, it provides Rilexine to treat skin and urinary infections; Sentinel Flavor Tabs and Sentinel Spectrum; Shotapen for bacterial infections; Suigen PCV2, a vaccine for porcine circovirus; Suprelorin, a deslorelin-based implant for the induction of temporary infertility; Tribrissen, a parasiticide oral solution; Ultra-corn used to stimulate the immune system; Veterin, an antibiotic; Veterinary HPM, a specialized petfood; Virbagest, an altrenogest-based progestin; Virbagen Omega, a veterinary interferon; Zenifel, a fogger and spray; and Zoletil, a multi-species general anesthetic. Virbac SA was founded in 1968 and is headquartered in Carros, France. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/05 21:43
End of Day Share Price2020/04/03 00:00
Annual Earnings2019/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.