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Develops and sells veterinary medicines and pet/livestock health products worldwide.
Develops and sells veterinary medicines and pet/livestock health products worldwide.
Sells prescription and over-the-counter animal medicines through distributors, and vets decide what pet owners buy, so relationships with vets drive sales. Companion-animal products, such as vaccines and parasite treatments, carry more weight than livestock products, and sales spread across Europe, Asia-Pacific and the US.
Moat: narrow (IP / patents, regulatory licence, distribution). Regulatory approvals and established veterinary distribution relationships create moderate barriers to entry.
Headquarters: Carros, France · Founded: 1968 · Employees: 6,442
Size Virbac (VIRP.PA) is a France Health Care company (Biotechnology) with a market value of $3.38B, the 82nd largest of 206 France companies the cockpit tracks. Shares closed at €359.50 on 6 Nov 2026.
Performance Over six months the shares gained 5.1%, against +8.0% for the median peer and -0.4% for the France market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 4.3% over the last twelve months (peer median +20.2%); the operating margin is 15.1% (peer median -75.0%).
Valuation It trades at 17.2× forward earnings against a peer median of 29.6× (3rd cheapest of 7).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.5 points above its cost of capital (8.4% WACC).
Next results Next results expected around 23 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.49B | €1.46B | €1.40B | €1.25B | €1.22B |
| Revenue growth | — | +5% | +12% | +3% | — |
| Gross profit | €532M | €518M | €501M | €423M | €427M |
| EBITDA | €289M | €277M | €275M | €220M | €219M |
| Net income | €156M | €151M | €145M | €121M | €122M |
| Free cash flow | €127M | €103M | €131M | €77.9M | €60.2M |
| Capital expenditure | €106M | €102M | €80.4M | €59.9M | €53.6M |
| Total debt | n/a | €291M | €308M | €121M | €91.5M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Virbac VIRP.PA | $3.38B | +5% | +4% | 15% | 17.2× | 6.2% |
| Zoetis ZTS | $32.8B | -4% | +1% | 38% | 12.8× | -4.3% |
| Elanco Animal Health ELAN | $12.9B | +9% | +12% | 7% | 21.8× | 34.8% |
| Vetoquinol VETO.PA | $1.17B | +22% | -1% | 15% | 15.8× | -3.0% |
| Merck & MRK | $362B | +33% | +5% | 18% | 17.4× | 4.1% |
| Phibro Animal Health PAHC | $1.34B | -18% | +17% | 13% | 9.1× | -7.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VIRP.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.9% | +0.4% | 5th highest of 21 |
| 6-month return | +5.1% | +8.0% | 11th highest of 21 |
| Distance from 52-week high | -7.7% | -25.0% | 3rd highest of 21 |
| Revenue growth (TTM) | +4.3% | +20.2% | 6th lowest of 16 |
| Operating margin | 15.1% | -75.0% | 6th highest of 17 |
| Forward P/E | 17.2× | 29.6× | 3rd cheapest of 7 |
| Growth the price implies (Req g, 7 yrs) | 6.2% | 1.2% | 2nd most demanding of 5 |
| Growth delivered (Del g) | +9.4% | +19.9% | 2nd lowest of 5 |
| Hurdle (Req g minus delivered) | -3.3 pp | -19.3 pp | 2nd most demanding of 5 |
| ROIC minus cost of capital | +3.5 pp | -16.0 pp | 3rd highest of 16 |
| EV / EBITDA | 11.1× | 37.0× | 2nd cheapest of 5 |
| Net debt / EBITDA | 0.7× | 0.3× | 3rd most indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Virbac VIRP.PA | France | $3.38B | +5% | +4% | 15% | 17.2× | 6.2% | +9.4% |
| Dyne Therapeutics DYN | United States | $3.37B | +3% | n/a | n/a | n/a | n/a | n/a |
| Hualan Biological Engineering 002007.SZ | China | $3.37B | -15% | -11% | 17% | 25.5× | 16.7% | -1.8% |
| XtalPi 2228.HK | Hong Kong | $3.35B | -34% | +4% | -127% | n/a | n/a | n/a |
| Disc Medicine IRON | United States | $3.50B | +16% | n/a | n/a | n/a | n/a | n/a |
| Telix Pharmaceuticals TLX.AX | Australia | $3.22B | -6% | +27% | -1% | 36.8× | n/a | n/a |
| Denali Therapeutics DNLI | United States | $3.22B | +2% | n/a | -2,488% | n/a | n/a | n/a |
| Enliven Therapeutics ELVN | United States | $3.62B | +21% | n/a | n/a | n/a | n/a | n/a |
| Tango Therapeutics TNGX | United States | $3.63B | -7% | +121% | -253% | n/a | n/a | n/a |
| Iovance Biotherapeutics IOVA | United States | $3.64B | +64% | +35% | -91% | n/a | n/a | n/a |
| HLB 028300.KS | South Korea | $3.06B | -49% | +29% | -96% | n/a | n/a | n/a |
| Lin BioScience 6696.TWO | Taiwan | $3.74B | +129% | n/a | n/a | n/a | n/a | n/a |
| Beijing Tiantan Biological Products 600161.SS | China | $3.76B | -11% | -13% | 21% | 33.6× | 3.2% | +12.5% |
| Caliway Biopharmaceuticals 6919.TW | Taiwan | $3.01B | -37% | -54% | -6,983% | n/a | n/a | n/a |
| AbCellera Biologics ABCL | United States | $3.85B | +149% | +101% | -340% | n/a | n/a | n/a |
| Bavarian Nordic A/S BAVA.CO | Denmark | $2.93B | +27% | -3% | 16% | 17.1× | -2.0% | +27.4% |
| Zai Lab 9688.HK | Hong Kong | $2.92B | +13% | +5% | -59% | n/a | n/a | n/a |
| Rubicon Research RUBICON.NS | India | $2.91B | +74% | +37% | 21% | 77.2× | n/a | n/a |
| Sunshine Lake Pharma 6887.HK | Hong Kong | $2.85B | -9% | +20% | -3% | n/a | n/a | n/a |
| ADMA Biologics ADMA | United States | $2.85B | +56% | +8% | 42% | 15.7× | -0.8% | +64.6% |
| Relay Therapeutics RLAY | United States | $4.08B | +46% | +24% | -2,999% | n/a | n/a | n/a |