Company Valuation: Virbac

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,584 1,927 3,035 2,651 2,995 2,582 - -
Change - -46.24% 57.52% -12.67% 13% -13.81% - -
Enterprise Value (EV) 1 3,510 1,848 2,983 2,819 3,168 2,704 2,626 2,523
Change - -47.37% 61.45% -5.49% 12.37% -14.65% -2.87% -3.95%
P/E 31.7x 15.8x 25x 18.3x 19.9x 14.9x 13.4x 12.2x
PBR 4.95x 2.29x 3.34x 2.54x 2.66x 2.02x 1.79x 1.59x
PEG - 2.06x -72.15x 0.9x 5.23x 1x 1.2x 1.23x
Capitalization / Revenue 3.37x 1.58x 2.43x 1.9x 2.04x 1.67x 1.57x 1.49x
EV / Revenue 3.3x 1.52x 2.39x 2.02x 2.16x 1.75x 1.6x 1.46x
EV / EBITDA 16.3x 8.27x 12.8x 9.96x 10.9x 8.53x 7.5x 6.62x
EV / EBIT 20.8x 10.1x 16.1x 12.4x 13.8x 10.5x 9.27x 8.16x
EV / FCF 36.5x 40.7x 50.8x 22.8x 29.7x 30.6x 21.6x 16.9x
FCF Yield 2.74% 2.46% 1.97% 4.39% 3.37% 3.27% 4.63% 5.91%
Dividend per Share 2 1.25 1.32 1.32 1.45 1.45 1.724 2.041 2.382
Rate of return 0.29% 0.58% 0.37% 0.46% 0.41% 0.56% 0.66% 0.77%
EPS 2 13.4 14.43 14.38 17.34 18 20.62 22.97 25.24
Distribution rate 9.33% 9.15% 9.18% 8.36% 8.06% 8.36% 8.89% 9.44%
Net sales 1 1,064 1,216 1,247 1,397 1,465 1,547 1,644 1,732
EBITDA 1 215.1 223.4 232.8 283 289.5 317.2 350.1 381.1
EBIT 1 168.9 182.8 184.9 227.5 229.7 256.9 283.2 309.2
Net income 1 113.2 122 121.3 145.3 150.9 173.9 193.7 213.5
Net Debt 1 -73.83 -79.36 -52.36 168.5 172.8 122.4 44.72 -59.04
Reference price 2 424.50 228.00 359.50 316.50 357.50 308.00 308.00 308.00
Nbr of stocks (in thousands) 8,443 8,451 8,443 8,375 8,378 8,382 - -
Announcement Date 22/03/22 23/03/23 19/03/24 13/03/25 17/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.94x1.75x8.53x0.56% 290.55Cr
32.45x11.78x23.93x0.61% 1,01900Cr
28.48x6.32x17.7x2.09% 62TCr
33.26x7.78x16.08x2.64% 46TCr
104.98x5.87x24.89x2.36% 36TCr
18.81x4.58x11.36x2.9% 33TCr
19.83x5.17x12.78x3.09% 27TCr
20.02x4.17x11.86x2.13% 24TCr
25.46x6.66x11.86x2.5% 22TCr
-43.78x6.39x24.97x2.27% 18TCr
Average 25.45x 6.05x 16.40x 2.11% 37TCr
Weighted average by Cap. 31.79x 7.60x 18.60x 1.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield