Vetoquinol

Vetoquinol has quietly fallen to around €66.60, down sharply from recent levels near €73 and close to the lower end of its recent trading range. For investors searching for an overlooked value opportunity, this decline deserves attention. The interesting part is that the company’s financial position remains much stronger than the share price might suggest. In 2025, revenue reached €525.7 million, while EBIT before acquisition amortization increased 2.8% to €91.5 million, giving a strong 17.4% margin. Net income reached €57.3 million, while net cash increased to €205.8 million. Essential Products grew 4.1% at constant exchange rates and now represent 64% of sales. The recent share-price weakness appears connected to modest overall sales growth, currency pressure and investor caution. First-quarter 2026 sales were €125 million, down 0.3% at constant exchange rates. The important catalyst is today’s scheduled first-half 2026 results, which could clarify whether underlying growth is accelerating. The dividend increased from €0.80 in 2023 to €0.85 in 2024, €0.89 in 2025 and €0.93 in 2026. The opportunity is strong cash generation and recovery in growth. Risks include weak sales growth, currencies and valuation uncertainty. This review is for informational and educational purposes only, not financial advice.