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Zoetis Inc.
ZTSHealthcareGenerated Aug 19, 2026, 11:16 PM UTC
ZTS (Zoetis Inc.) analytical snapshot. Revenue grew +2.3% YoY to $9.47B. 5-year revenue CAGR +4.0%; 10y CAGR +7.6%. Net margin at 28.23% (expanding ▲). Market cap $31.69B at $76.68 per share. Trailing P/E 12.74, P/S 3.35, P/B 10.07. Graham number $32.12 (trades above intrinsic). Risk: Elevated. Macro: Risk-on · Supportive. Composite analytical score 6 (data confidence 83%). Descriptive analytics from public filings — not investment advice.
Free SEC analysis
— computed from SEC filings, free to readFilings & Ownership
Latest annual report (10-K) filed Feb 12, 2026. Latest quarterly report (10-Q) filed Aug 6, 2026. 7 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 12, 2026.
- Latest quarterly report (10-Q) filed Aug 6, 2026.
- 7 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Zoetis Inc.; broad institutional reporting.
- Recent filers include Westchester Capital Management, LLC, Axiom Investment Management LLC, Axiom Investment Management LLC.
- 3 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 17 recent 13G passive institutional ownership notices.
| Filer | Form | Filed |
|---|---|---|
| Westchester Capital Management, LLC | 13F-HR | May 15, 2015 |
| Axiom Investment Management LLC | 13F-HR | Feb 14, 2023 |
| Axiom Investment Management LLC | 13F-HR | Aug 15, 2022 |
| Axiom Investment Management LLC | 13F-HR | Mar 16, 2021 |
| Axiom Investment Management LLC | 13F-HR | May 13, 2022 |
| Date | Form | Description |
|---|---|---|
| Aug 6, 2026 | 8-K | 8-K |
| Aug 6, 2026 | 8-K | 8-K |
| May 22, 2026 | 8-K | 8-K |
| May 20, 2026 | 8-K | 8-K |
| May 7, 2026 | 8-K | 8-K |
| Feb 12, 2026 | 8-K | 8-K |
| Feb 5, 2026 | 8-K | 8-K |
SEC Filing Deep-Analysis
2 risk signal(s), 1 watch item(s) detected from XBRL filing diff analysis. Revenue grew +2.3% but receivables grew +20.8% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- Receivables outpacing revenue: Accounts receivable grew +20.8% YoY vs revenue growth of +2.3%. The +18.5% spread suggests extended credit terms, channel stuffing risk, or collection deterioration. Investigate the allowance for doubtful accounts and DSO trend.
- Leverage is building — debt rising while equity contracts: Long-term debt grew +73.2% while stockholders equity declined -30.2%. The debt-to-equity ratio is deteriorating, increasing financial risk and interest burden. This may constrain future borrowing capacity.
- NEW: Restructuring: Restructuring appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: Revenue grew +2.3% but receivables grew +20.8% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- 3 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 1 new risk-language term(s) detected in filing text: Restructuring.
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $9.26B | $9.47B | $211.0M | +2.3% |
| Net income | $2.49B | $2.67B | $187.0M | +7.5% |
| Operating cash flow | $2.95B | $2.90B | $-49.0M | -1.7% |
| Capex | $655.0M | $621.0M | $-34.0M | -5.2% |
| Total assets | $14.24B | $15.47B | $1.23B | +8.6% |
| Total liabilities | $9.47B | $12.14B | $2.67B | +28.2% |
| Long-term debt | $5.22B | $9.04B | $3.82B | +73.2% |
| Cash & equivalents | $727.0M | $1.56B | $837.0M | +115.1% |
| Stockholders equity | $4.77B | $3.33B | $-1.44B | -30.2% |
| Inventory | $2.31B | $2.43B | $124.0M | +5.4% |
| Accounts receivable | $1.32B | $1.59B | $274.0M | +20.8% |
| SG&A expense | $2.32B | $2.38B | $60.0M | +2.6% |
| Interest expense | $225.0M | $222.0M | $-3.0M | -1.3% |
| Type | Concepts |
|---|---|
| Added | RestructuringReserveCurrent, RestructuringReserveNoncurrent, ShortTermInvestments |
| Removed | AccruedLiabilitiesCurrent, AdjustmentToAdditionalPaidInCapitalConvertibleDebtInstrumentIssuedAtSubstantialPremium, AdvertisingExpense, AllocatedShareBasedCompensationExpenseNetOfTax, AssetRetirementObligationsNoncurrent, BuildingsAndImprovementsGross, CapitalizedComputerSoftwareAmortization1, CapitalizedComputerSoftwareNet, CommonStockDividendsPerShareCashPaid, ConstructionInProgressGross |
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Impairment charge | medium | 5 | 2 | Ongoing |
| Restructuring | medium | 5 | 0 | NEW |
| Off-balance sheet arrangements | medium | 5 | 8 | Ongoing |
| Related party transactions | low | 5 | 0 | NEW |
Fundamentals
Revenue grew +2.3% YoY to $9.47B. 5-year revenue CAGR +4.0%; 10y CAGR +7.6%. Net margin at 28.23% (expanding ▲).
- Revenue grew +2.3% YoY to $9.47B.
- 5-year revenue CAGR +4.0%; 10y CAGR +7.6%.
- Net margin at 28.23% (expanding ▲).
- Return on equity 80.25%, ROA 17.28%, ROIC 0.00%.
- Gross margin 0.00%, operating margin 0.00%.
- Free cash flow margin 24.12% ($2.28B).
- Net income up ▲ +7.5% YoY.
- Debt/equity 2.87, current ratio 3.08, net debt $7.57B.
- Asset turnover 0.63 — capital efficiency.
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2024 | $9.26B | +8.3% | 0.00 | 0.00 | 26.86 | $2.30B | 52.12 |
| 2025 | $9.47B | +2.3% | 0.00 | 0.00 | 28.23 | $2.28B | 80.25 |
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Sep 30, 2024 | $2.39B | +11.0% | — | 28.56% |
| Mar 31, 2025 | $2.20B | +0.4% | -8.0% | 27.39% |
| Jun 30, 2025 | $2.47B | +4.8% | +12.6% | 29.35% |
| Sep 30, 2025 | $2.40B | +0.5% | -3.0% | 30.04% |
| Mar 31, 2026 | $2.26B | +2.9% | -5.8% | 26.57% |
| Jun 30, 2026 | $2.47B | -0.2% | +9.1% | 28.00% |
Pro analysis — preview
— score, signals & key metrics shown; full reasoning lockedValuation
Market cap $31.69B at $76.68 per share. Trailing P/E 12.74, P/S 3.35, P/B 10.07. Graham number $32.12 (trades above intrinsic).
- Market cap $31.69B at $76.68 per share.
Price & Technicals
Price $76.68 — downtrend (below 200-DMA); 1-month momentum positive. RSI(14) 51.30.
- Price $76.68 — downtrend (below 200-DMA); 1-month momentum positive.
Macro & Rates
Risk-on · Supportive. Real GDP growth 1.50% (quarterly, as of Apr 1, 2026). CPI inflation +3.3% YoY. Fed funds rate 3.63%, 10Y Treasury 4.71%.
- Market regime: Risk-on · Supportive.
Risk Scorecard
Composite risk Elevated. Leverage debt/equity 2.87 (high). Liquidity current ratio 3.08 (adequate).
- Composite risk: Elevated.
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Macro exposure
Defensive · Low sensitivityMacro regime: Risk-on · Supportive. Zoetis Inc. is a defensive name (low macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.
Analytical read
deterministic previewRevenue grew **+2.3%** YoY to $9.47B..
Peer comparison
Defensive groupHow ZTS stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| DexCom Inc. DXCM | 19 | Neutral |
| Bristol-Myers Squibb BMY | 19 | Neutral |
| Eli Lilly & Co. LLY | 17 | Neutral |
| HCA Healthcare HCA | 9 | Neutral |
| Gilead Sciences GILD | 8 | Neutral |
| Johnson & Johnson JNJ | 8 | Neutral |
| Abbott Laboratories ABT | 7 | Neutral |
| Biogen Inc. BIIB | 7 | Neutral |
| Intuitive Surgical Inc. ISRG | 7 | Neutral |
| Coca-Cola Co. KO | 6 | Neutral |
| Zoetis Inc. ZTS● you | 6 | Neutral |
| Thermo Fisher Scientific TMO | 3 | Neutral |
| Regeneron Pharmaceuticals REGN | 3 | Neutral |
| Danaher Corp. DHR | 1 | Neutral |
| Merck & Co. MRK | 0 | Neutral |
| Illumina Inc. ILMN | 0 | Neutral |
| Colgate-Palmolive CL | -2 | Neutral |
| Vertex Pharmaceuticals VRTX | -2 | Neutral |
| AbbVie Inc. ABBV | -5 | Neutral |
| Procter & Gamble PG | -7 | Neutral |
| CVS Health Corp. CVS | -8 | Neutral |
| Mondelez International MDLZ | -10 | Neutral |
| Amgen Inc. AMGN | -10 | Neutral |
| Cigna Group CI | -11 | Neutral |
| Kroger Co. KR | -12 | Neutral |
| Costco Wholesale COST | -14 | Neutral |
| Walmart Inc. WMT | -14 | Neutral |
| Pfizer Inc. PFE | -15 | Neutral |
| PepsiCo Inc. PEP | -16 | Neutral |
| Sysco Corp. SYY | -16 | Neutral |
| Hershey Co. HSY | -17 | Neutral |
| Kimberly-Clark Corp. KMB | -18 | Neutral |
| Moderna Inc. MRNA | -21 | Neutral |
| UnitedHealth Group UNH | -25 | Neutral |