Zoetis Inc
ZTS
Zoetis Inc AI Insights
Informational only. Not investment advice.Snapshot
- Operating margin 37.6% TTM vs industry median ~0% - dominant pricing power in animal health niche with minimal competition[Operating Margin TTM]
- ROE 49.9% TTM with ROIC 21.5% - exceptional capital efficiency despite 1.35x debt/equity leverage[ROE TTM]
- FCF 2.2B TTM (24% of revenue) funds 394M buybacks + 222M dividends while maintaining 2.1B cash buffer[Free Cash Flow TTM]
Watch Triggers
- Operating Margin TTM: Falls below 32% — Signals pricing power erosion or generic competition - thesis invalidating
- Free Cash Flow TTM: Drops below 1.8B — Would force choice between buybacks and debt service at current leverage
- Goodwill: Impairment charge announced — 2.8B goodwill (51% of equity) - any write-down materially impacts book value
Bull Case
Near-monopoly economics: 71.7% gross margin, 37.6% operating margin, 21.5% ROIC - structural moat in fragmented animal pharma market with high switching costs
Cash machine: 2.2B FCF TTM with capex only 7.2% of revenue enables aggressive capital return (616M TTM) without impairing growth
Bear Case
Premium valuation: P/E 19.4x near industry median 20.2x but P/B 32.9x reflects intangibles risk - goodwill 2.8B is 51% of equity
Leverage exposure: 7.3B total debt at 1.35x D/E with 216M interest expense TTM - rising rates compress 16.4x interest coverage
Bull vs Bear Balance
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Forward Thesis
Pet humanization trend sustains premium pricing power through 2027
- 37.6% operating margin indicates inelastic demand
- R&D 685M TTM (7.3% of revenue) builds pipeline moat
- Gross margin 71.7% enables continued reinvestment
Public Strategies Rankings
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ZTS Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$55.24B | — | ||
$60.44B | — | ||
20 | — | ||
$9.4B | +2.7% | — | |
$6.10 | +9.1% | — | |
37.6% | +1.2% | — | |
28.2% | +1.7% | — | |
$2.24B | -2.9% | — | |
0.50 | +2.7% | — | |
Beta 5Y (Monthly) | unknown | — |
ZTS Dividend History
2026
$0.53002025
$2.00002024
$1.72802023
$1.50002022
$1.30002021
$1.00002020
$0.80002019
$0.65602018
$0.50402017
$0.42002016
$0.38002015
$0.33202014
$0.28802013
$0.1950ZTS Stock Splits
ZTS SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/04/25 | 09/30/25 | 10-Q | |
08/05/25 | 06/30/25 | 10-Q | |
05/06/25 | 03/31/25 | 10-Q | |
02/13/25 | 12/31/24 | Unknown | |
11/04/24 | 09/30/24 | 10-Q | |
08/06/24 | 06/30/24 | 10-Q | |
05/02/24 | 03/31/24 | 10-Q | |
02/13/24 | 12/31/23 | 10-K | |
11/02/23 | 09/30/23 | 10-Q | |
08/08/23 | 06/30/23 | 10-Q | |
05/04/23 | 03/31/23 | 10-Q | |
02/14/23 | 12/31/22 | 10-K | |
11/03/22 | 09/30/22 | 10-Q | |
08/04/22 | 06/30/22 | 10-Q | |
05/05/22 | 03/31/22 | 10-Q | |
02/15/22 | 12/31/21 | 10-K | |
11/04/21 | 09/30/21 | 10-Q | |
08/05/21 | 06/30/21 | 10-Q | |
05/06/21 | 03/31/21 | 10-Q | |
02/16/21 | 12/31/20 | 10-K | |
11/05/20 | 09/30/20 | 10-Q | |
08/06/20 | 06/30/20 | 10-Q | |
05/06/20 | 03/31/20 | 10-Q | |
02/13/20 | 12/31/19 | 10-K | |
11/07/19 | 09/30/19 | 10-Q | |
08/06/19 | 06/30/19 | 10-Q | |
05/02/19 | 03/31/19 | 10-Q | |
02/14/19 | 12/31/18 | 10-K | |
11/01/18 | 09/30/18 | 10-Q | |
08/02/18 | 06/30/18 | 10-Q | |
05/02/18 | 03/31/18 | 10-Q | |
02/15/18 | 12/31/17 | 10-K | |
11/02/17 | 10/01/17 | 10-Q | |
08/08/17 | 07/02/17 | 10-Q | |
05/04/17 | 04/02/17 | 10-Q | |
02/16/17 | 12/31/16 | 10-K | |
11/03/16 | 10/02/16 | 10-Q | |
08/05/16 | 07/03/16 | 10-Q | |
05/06/16 | 04/03/16 | 10-Q | |
02/24/16 | 12/31/15 | 10-K | |
11/05/15 | 09/27/15 | 10-Q | |
08/06/15 | 06/28/15 | 10-Q | |
05/07/15 | 03/29/15 | 10-Q | |
02/27/15 | 12/31/14 | 10-K | |
11/10/14 | 09/28/14 | 10-Q | |
08/12/14 | 06/29/14 | 10-Q | |
05/13/14 | 03/30/14 | 10-Q | |
03/26/14 | 12/31/13 | 10-K | |
11/13/13 | 09/29/13 | 10-Q | |
08/14/13 | 06/30/13 | 10-Q | |
05/15/13 | 03/31/13 | 10-Q | |
03/28/13 | 12/31/12 | 10-K | |
02/04/13 | 09/30/12 | 424B4 | |
10/11/12 | 07/01/12 | S-1/A | |
08/13/12 | 04/01/12 | S-1 | |
02/04/13 | 12/31/11 | 424B4 | |
09/30/11 | 10/02/11 | Unknown | -- |
06/30/11 | 07/03/11 | Unknown | -- |
08/13/12 | 04/03/11 | S-1 |