Zoetis (ZTS) stock
Health Care · Pharmaceuticals
Zoetis (ZTS) is a Pharmaceuticals company in the Health Care sector, headquartered in Parsippany, New Jersey. As of October 23, 2026, ZTS closed at $81.03, a market capitalization of $33.48 billion, the 305th largest company in the S&P 500. Over the last twelve months it generated $9.53 billion in revenue (-0% year over year) and $2.32 billion in free cash flow. The stock trades at 13.3x trailing earnings and 12.6x forward earnings.
- 1-year total return: -43.6% (dividends reinvested)
- 5-year return: -16.3% a year
- 52-week range: $68.77 – $147.93
- Gross margin 71.7%, operating margin 40.7%
- Dividend yield: 2.62%, 12 straight years of increases
- FI Handbook report card: B- across 10 metrics
- 39th largest of 60 Health Care stocks in the S&P 500
ZTS price chart
1Y price change: -44.6% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| ZTS | +13.2% | -34.6% | -43.6% | -20.3% | -16.3% | +5.7% | +8.2% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2013.
ZTS key statistics
- Market cap
- $33.5B
- #305 in S&P 500
- P/E (TTM)
- 13.3x
- Forward P/E
- 12.6x
- EPS (TTM)
- $6.08
- Revenue (TTM)
- $9.5B
- -0%
- Free cash flow
- $2.3B
- Gross margin
- 71.7%
- Operating margin
- 40.7%
- Return on equity
- 64.9%
- Dividend yield
- 2.62%
- 52-week range
- $68.77 – $147.93
- Beta
- 0.74
- Price / sales
- 3.5x
- EV / EBITDA
- 10.1x
- Debt / equity
- 2.94x
- Employees
- 14,500
ZTS report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth-0.2%F
- Gross margin71.7%A
- Operating margin40.7%A
- FCF margin24.3%B
- Return on equity64.9%A
- Net debt / EBITDA1.9xC
- Forward P/E12.6xA
- PEG ratio15.1xF
- Shareholder yield12.3%A
- Share count change / yr-1.5%B
Zoetis financials
Revenue went from $4.9B in fiscal 2016 to $9.5B in fiscal 2025, growing 7.6% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.9B | $5.3B | $5.8B | $6.3B | $6.7B | $7.8B | $8.1B | $8.5B | $9.3B | $9.5B |
| Gross profit | $3.2B | $3.5B | $3.9B | $4.3B | $4.6B | $5.5B | $5.6B | $6.0B | $6.5B | $6.8B |
| Net income | $821.0M | $864.0M | $1.4B | $1.5B | $1.6B | $2.0B | $2.1B | $2.3B | $2.5B | $2.7B |
| EPS (diluted) | $1.65 | $1.75 | $2.93 | $3.11 | $3.42 | $4.27 | $4.49 | $5.07 | $5.47 | $6.02 |
| Free cash flow | $497.0M | $1.1B | $1.5B | $1.3B | $1.7B | $1.7B | $1.3B | $1.6B | $2.3B | $2.3B |
| Buybacks | $300.0M | $500.0M | $698.0M | $626.0M | $250.0M | $743.0M | $1.6B | $1.1B | $1.9B | $3.2B |
| Diluted shares | 498.2M | 493.2M | 486.9M | 481.8M | 478.6M | 476.7M | 470.4M | 462.3M | 454.8M | 443.8M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into ZTS?
A reverse DCF asks what growth the current price requires. With an enterprise value of $41.1B and $2.3B of trailing free cash flow, Zoetis needs to grow free cash flow about 7.6% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 6.4% a year over the last five years.
P/E ratio history
Current 13.5x vs. median 39.1x (10th–90th percentile 28.6x–60.2x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
ZTS dividend
- Dividend yield
- 2.62%
- Annual dividend
- $2.12
- Years of increases
- 12
- 5-yr dividend growth
- 20.1%
- per year
- Payout ratio
- 34%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
ZTS analyst price targets
14 analysts' average 12-month target is $93.00 (+15% vs. $81.03). Targets range from $74.00 to $155.00. 35% rate it a buy.
ZTS earnings
Next report: November 5, 2026. Zoetis has beaten EPS estimates 1 quarters in a row. Last quarter's revenue was $2.5B (-0% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 6, 2026 | $1.85 | $1.87 | +0.9% |
| May 7, 2026 | $1.62 | $1.53 | -5.3% |
| Feb 12, 2026 | $1.40 | $1.48 | +5.5% |
| Nov 4, 2025 | $1.62 | $1.70 | +4.8% |
| Aug 5, 2025 | $1.61 | $1.76 | +9.2% |
| May 6, 2025 | $1.40 | $1.48 | +5.8% |
| Feb 13, 2025 | $1.36 | $1.40 | +2.8% |
| Nov 4, 2024 | $1.46 | $1.58 | +8.0% |
Stocks like ZTS
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 LLY Eli Lilly and | -2.54% | +56% | $1.1T | 42.7x | Compare |
 JNJ Johnson & Johnson | -1.42% | +40% | $635.1B | 40.0x | Compare |
 MRK Merck & | -1.34% | +72% | $358.4B | 117.2x | Compare |
 PFE Pfizer | -1.28% | +30% | $171.2B | 39.5x | Compare |
 BMY Bristol-Myers Squibb | -2.41% | +47% | $125.6B | 13.5x | Compare |
 VTRS Viatris | -2.60% | +81% | $20.7B | — | Compare |
 ABBV AbbVie | +0.16% | +29% | $504.8B | 80.7x | Compare |
 UNH UnitedHealth | -1.62% | +19% | $375.3B | 26.9x | Compare |
ZTS news
- Zoetis (ZTS) Registers a Bigger Fall Than the Market: Important Facts to Note · Oct 23, 2026
- How Unusual Is Zoetis's Latest Sales Growth? · Oct 22, 2026
- ZTS vs. ICCC: Which Animal Health Stock Is the Better Investment Bet? · Oct 21, 2026
- Zoetis Receives FDA Approval for Convenia® RTU for Dogs (cefovecin injectable suspension), Helping More Medium and Large Dogs Access Single-Injection Treatment · Oct 20, 2026
- Jefferies downgrades Zoetis, Elanco on pricing risk; prefers IDEXX · Oct 20, 2026
ZTS stock FAQ
What is ZTS's market cap?
Zoetis's market capitalization is $33.48 billion as of October 23, 2026, ranking 305th in the S&P 500.
What is ZTS's P/E ratio?
ZTS trades at a trailing price-to-earnings ratio of 13.3x and a forward P/E of 12.6x. Its median P/E over the period we track is 39.1x.
Does ZTS pay a dividend?
Yes. Zoetis pays $2.12 per share a year, a 2.62% yield. It has raised its dividend 12 years in a row. Dividends grew 20.1% a year over the last five years.
How much has ZTS stock returned?
Including reinvested dividends, ZTS returned -43.6% over one year, -16.3% a year over five years, +5.7% a year over ten years through October 23, 2026.
Is ZTS stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Zoetis must grow free cash flow about 8% a year for the next decade. Its free cash flow grew 6% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the ZTS price target?
14 analysts cover ZTS with an average 12-month price target of $93.00, +15% from the current price. 35% of them rate it a buy.
When does ZTS report earnings?
Zoetis is expected to report earnings on November 5, 2026. It has beaten EPS estimates 1 quarters in a row.
How many employees does Zoetis have?
Zoetis has about 14,500 full-time employees, or $656,897 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology