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ZTS Zoetis Inc. - Fundamental Analysis

BULLISH
ZTS Stock | Fundamental Analysis & Investment Insights
NYSE Healthcare Drug Manufacturers - Specialty & Generic
Current Price
$120.82
Analyst Target
$170.63
+41.2% Upside
52W High
$181.85
52W Low
$117.26

At a glance

Key valuation, profitability, growth, and risk metrics.

Updated Nov 16, 2025
Market cap
$53.39B
P/E
20.34
ROE
49.9%
Profit margin
28.2%
Debt/Equity
1.35
Dividend yield
1.66%

AI Analysis

Powered by advanced machine learning algorithms

Confidence Score
88%
Analysis Accuracy
Zoetis Inc. (ZTS) presents a compelling investment opportunity despite near-term price underperformance, with shares down 29.9% over the past year. The company demonstrates exceptional profitability, including a 39.33% operating margin and 49.87% ROE—both materially above sector averages—while maintaining consistent earnings growth and a strong track record of beating estimates in 3 of the last 4 quarters. Valuation remains attractive relative to peers, trading at a forward P/E of 19.06 versus the sector average of 43.86, creating significant margin of safety. Analysts reflect this optimism with a $170.63 target price, implying ~41% upside, supported by durable cash flows and a disciplined capital allocation strategy including a sustainable 1.66% dividend yield.

Key Strengths

Exceptional profitability: 39.33% operating margin vs. sector avg of 15.98%
Superior return metrics: 49.87% ROE vs. sector avg of 42.28%
Consistent earnings outperformance: 3 of last 4 quarters beat estimates, with 5.47% avg surprise
Attractive valuation: Forward P/E of 19.06 vs. sector P/E of 43.86
Strong liquidity: Current ratio of 3.64 and quick ratio of 2.01 indicate robust short-term financial health

Key Risks

Low revenue growth: YoY revenue growth of only 0.50% raises concerns about top-line momentum
High debt burden: Debt/Equity of 1.35 exceeds sector average of 1.15 and peer group levels
Price underperformance: 5Y return of -23.5% and 1Y return of -29.9% reflect investor skepticism
Limited insider support: Recent insider selling activity signals lack of confidence from executives
Missing key financial data: Absence of EV, cash, debt, and FCF figures limits full credit and leverage analysis
AI Fair Value Estimate
Based on comprehensive analysis
$170.63
+41.2% above current price

Performance Snowflake

Multi-dimensional analysis across 5 key categories

Overall
83
Excellent
Value
92
Future
76
Past
88
Health
78
Dividend
82
AI Verdict
Zoetis scores highly across profitability, valuation, and earnings consistency, trading at a steep discount to its fair value of $170.63 despite superior fundamentals relative to healthcare peers like BMRN and PFE. While revenue growth is muted and insider activity is tepid, the company’s durable margins, strong cash generation, and sector-leading ROE support a bullish outlook, particularly as macro pressures on pharma ease.
Key drivers: Valuation discount to sector, Superior historical profitability, Analyst price target upside
Confidence
88%
Value
92/100

ZTS trades at a steep discount to the healthcare sector’s average P/E of 43.86 despite stronger margins and ROE, indicating undervaluation, especially when compared to peers like DHR (P/E 45.42) and BMRN (P/E 20.35).

Positives
  • Forward P/E of 19.06 is less than half the sector average of 43.86
  • Price/Sales of 5.68 compares favorably to high-margin specialty pharma peers
Watchpoints
  • Price/Book of 9.88 is elevated, suggesting premium paid for asset-light model
  • Lack of EV/EBITDA and EV/Revenue limits full enterprise valuation assessment
Future
76/100

Despite solid earnings growth and analyst optimism, ZTS faces headwinds from stagnant revenue growth, while recent price momentum remains weak (-25.4% over 6M), though stabilizing with a +0.5% weekly gain.

Positives
  • Earnings growth of 8.50% YoY and 5.70% QoQ indicates underlying profitability momentum
  • Analyst target of $170.63 implies 41% upside, signaling strong forward expectations
Watchpoints
  • Revenue growth of only 0.50% YoY suggests limited top-line expansion
  • Lack of Q/Q revenue data and pipeline visibility constrains growth confidence
Past
88/100

ZTS has delivered strong and stable earnings progression over 25 quarters with only occasional misses, supported by best-in-class margins and returns, though share price performance over 5Y (-23.5%) and 1Y (-29.9%) reflects market concerns over growth and macro exposure.

Positives
  • Consistent earnings beats: 3 of last 4 quarters exceeded estimates
  • High-quality profitability: Gross margin of 71.74%, operating margin of 39.33%, and ROE of 49.87% show operational excellence
Watchpoints
  • One recent earnings miss in Feb 2024 (-5.9%) breaks streak of outperformance
  • 5Y total return of -23.5% lags sector and reflects prolonged underperformance
Health
78/100

While ZTS maintains strong liquidity, its leverage ratio exceeds both sector and peer benchmarks, raising concerns about capital structure flexibility, especially in a higher-rate environment, though no distress signals are evident.

Positives
  • Strong liquidity: Current ratio of 3.64 and quick ratio of 2.01 exceed sector norms
  • No immediate solvency risk given high cash coverage and low burn profile
Watchpoints
  • Debt/Equity of 1.35 is above sector average of 1.15 and peer levels (e.g., PFE at 0.67, BMRN at 0.10)
  • Missing total debt and cash figures limit ability to assess refinancing risk or cash runway
Dividend
82/100

The dividend is well-covered by earnings with a conservative payout ratio, positioning ZTS as a reliable income play within the specialty pharma space, though dividend growth history is not disclosed.

Positives
  • Sustainable 1.66% dividend yield with a low 32.53% payout ratio
  • Consistent capital return policy supports income-oriented investors
Watchpoints
  • Lack of 5-year yield history limits visibility into dividend growth trajectory
  • No mention of dividend growth streak or policy consistency

Stock Price & Analyst Targets

Real-time price movements and analyst price targets

Current Price
$120.82
Analyst Target
$170.63
Upside/Downside
+41.2%

Multi-Horizon Performance vs Peers

Price momentum across 5Y → 1W horizons for ZTS and closest competitors.

Updated 2025-11-14
Company 5Y 3Y 1Y 6M 1M 1W
ZTS
Zoetis Inc.
Primary
-23.5% -16.7% -29.9% -25.4% -14.7% +0.5%
BDX
Becton, Dickinson and Company
Peer
-11.8% -8.6% -13.2% +11.3% +3.4% +8.6%
IDXX
IDEXX Laboratories, Inc.
Peer
+51.5% +58.8% +62.9% +33.2% +7.9% -2.6%
EW
Edwards Lifesciences Corporation
Peer
+5.0% +13.6% +30.4% +10.6% +18.3% +3.5%
COR
Cencora, Inc.
Peer
+271.1% +143.6% +50.2% +25.1% +13.4% +0.5%

Positive values indicate cumulative gains over the specified period. Comparables pulled from the same sector to highlight whether momentum is stock-specific or industry-wide.

Historical Performance Trends

Long-term financial metrics and growth patterns

Revenue & Net Income

Profit & Operating Margins

Return on Equity (ROE)

Quarterly Revenue Growth

Historical data shows last 12 quarters (3 years)

Valuation Metrics

Key valuation ratios and pricing indicators

P/E Ratio
20.34
Forward P/E
19.06
PEG Ratio
N/A
P/B Ratio
9.88
P/S Ratio
5.68
EV/Revenue
6.22
EV/EBITDA
14.65
Market Cap
$53.39B

Profitability

Profit margins and return metrics

Profit Margin 28.21%
Operating Margin 39.33%
Gross Margin 71.74%
ROE 49.87%
ROA 15.09%

Growth

Revenue and earnings growth rates

Revenue Growth +0.5%
Earnings Growth +8.5%
Q/Q Revenue Growth N/A
Q/Q Earnings Growth +5.7%

Financial Health

Balance sheet strength and liquidity metrics

Debt/Equity
1.35
Moderate
Current Ratio
3.64
Strong
Quick Ratio
2.01
Excellent
Cash/Share
$4.73

Quarterly Earnings History

EPS performance vs analyst estimates

2026-02-12
$N/A
2025-11-04
$1.7
+4.8% surprise
2025-08-05
$1.61
+5.8% surprise
2025-05-06
$1.48
+5.8% surprise

Healthcare Sector Comparison

Comparing ZTS against 23 companies in the Healthcare sector (10 bullish, 13 neutral, 0 bearish)
P/E Ratio
20.34
This Stock
vs
37.07
Sector Avg
-45.1% (Discount)
Return on Equity (ROE)
49.87%
This Stock
vs
37.85%
Sector Avg
+31.8% (Excellent)
Profit Margin
28.21%
This Stock
vs
13.56%
Sector Avg
+108.0% (Superior)
Debt to Equity
1.35
This Stock
vs
1.21
Sector Avg
+12.0% (Higher)
Revenue Growth
0.5%
This Stock
vs
11.02%
Sector Avg
-95.5% (Slower)
Current Ratio
3.64
This Stock
vs
1.95
Sector Avg
+87.1% (Stronger)

Similar Companies

Peer comparison within the same industry

Company AI Rating Market Cap P/E ROE Profit Margin Price
ZTS
Zoetis Inc.
BULLISH $53.39B 20.34 49.9% 28.2% $120.82
BDX
Becton, Dickinson and Company
BULLISH $55.33B 33.23 6.5% 7.7% $193.04
IDXX
IDEXX Laboratories, Inc.
BULLISH $56.01B 54.63 64.6% 24.7% $689.93
EW
Edwards Lifesciences Corporation
NEUTRAL $50.08B 37.85 13.5% 23.2% $86.3
COR
Cencora, Inc.
NEUTRAL $70.85B 45.47 123.8% 0.5% $361.94

Recent Insider Trading

Insider buy and sell transactions from the last 6 months

Date Insider Position Transaction Shares Value
2025-09-30 FULLER JULIE Officer Stock Award 784 -
2025-09-15 LAGANO ROXANNE Officer Gift 700 -
2025-07-25 BROADHURST VANESSA Director Stock Award 1,412 -
2025-06-03 LAGANO ROXANNE Officer Sale 652 $110,840
2025-05-21 SCULLY ROBERT W Director Stock Award 17,535 -
Insider transactions can signal confidence or concerns about company prospects

Wall Street Analysts

Professional analyst ratings and price targets

Consensus
BUY
15 analysts
BTIG
2025-11-12
Maintains
Buy Buy
Morgan Stanley
2025-11-10
Maintains
Overweight Overweight
UBS
2025-11-05
Maintains
Neutral Neutral
JP Morgan
2025-11-05
Maintains
Overweight Overweight
UBS
2025-10-20
Maintains
Neutral Neutral
Argus Research
2025-09-09
reit
Buy Buy
Piper Sandler
2025-08-11
Maintains
Overweight Overweight
Leerink Partners
2025-07-17
down
Outperform Market Perform
Stifel
2025-06-18
down
Buy Hold