Zoetis
Develops medicines, vaccines, diagnostics and precision-health tools for pets and livestock.
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Profile
Develops and sells medicines, vaccines, diagnostics, genetic tests and precision-health tools for companion animals and livestock. Most revenue comes from companion-animal products, with sales organized across U.S. and International segments and a small group of parasiticide, dermatology and pain franchises accounting for a large share.
Develops, manufactures and sells animal medicines, vaccines, diagnostics, genetic tests and precision-health tools for pets and livestock. The portfolio spans parasiticides, vaccines, dermatology, anti-infectives, pain and sedation, other pharmaceuticals and animal health diagnostics. Companion-animal products generate most revenue, anchored by Simparica and Simparica Trio, Apoquel, Cytopoint and Librela, while livestock offerings include vaccines and ceftiofur antibiotics.
Operates through U.S. and International commercial segments, selling in more than 100 countries through direct veterinary and livestock-producer relationships plus distributors. Combines veterinary R&D, global manufacturing, technical sales and lifecycle development across its portfolio. Results depend on regulatory approvals, product safety and quality, reliable supply, veterinary visits and livestock conditions; a small group of top products and product lines generates roughly two-fifths of revenue.
Company facts
Key statistics
Year to date −38.6% · Average volume (30d) 6.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 25, 2026 | Cantor Fitzgerald | Target | $94 | |||
| Aug 20, 2026 | Stifel Nicolaus | Target | $85 | $80 | ||
| Aug 7, 2026 | Morgan Stanley | Target | $99 | $85 | ||
| Aug 6, 2026 | William Blair | Downgrade | Outperform | Market Perform | ||
| Jul 27, 2026 | UBS | Reiterate | Neutral | $99 | $85 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $1.85 | $1.87 | +1.1% | $2.50B | $2.47B | −1.3% | +3.87% |
| May 7, 2026Q1 FY26 | $1.60 | $1.53 | −4.4% | $2.30B | $2.26B | −1.7% | −5.13% |
| Feb 12, 2026Q4 FY25 | $1.40 | $1.48 | +5.7% | $2.36B | $2.39B | +1.1% | +0.80% |
| Nov 4, 2025Q3 FY25 | $1.62 | $1.70 | +4.9% | $2.41B | $2.40B | −0.4% | −3.19% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.22B | $2.46B | $2.40B | $2.39B | $2.26B | $2.47B | |
| Gross profit | $1.57B | $1.78B | $1.69B | $1.64B | $1.62B | $1.80B | |
| Operating income | $846.0M | $989.0M | $936.0M | $826.0M | $822.0M | $937.0M | |
| Net income | $631.0M | $718.0M | $721.0M | $603.0M | $601.0M | $691.0M | |
| Diluted EPS | $1.41 | $1.61 | $1.63 | $1.37 | $1.42 | $1.65 | |
| Gross margin | 70.5% | 72.3% | 70.2% | 68.9% | 71.7% | 72.7% | |
| Operating margin | 38.1% | 40.2% | 39.0% | 34.6% | 36.3% | 38.0% |
Fiscal years (4-quarter sums)FY21 $7.78B · FY22 $8.08B · FY23 $8.54B · FY24 $9.26B · FY25 $9.47B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.68B · Total debt $9.24B · Total assets $15.08B · Shareholders' equity $3.15B
Dividends
Raised for 11 straight years — most recently to $0.53 from $0.50 in Jan 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 20, 2026 | Jul 20 | Sep 1 | $0.53 | |
| Apr 20, 2026 | Apr 20 | Jun 2 | $0.53 | |
| Jan 20, 2026 | Jan 20 | Mar 3 | $0.53 | raised from $0.50 |
| Oct 31, 2025 | Oct 31 | Dec 2 | $0.50 | |
| Jul 18, 2025 | Jul 18 | Sep 3 | $0.50 | |
| Apr 21, 2025 | Apr 21 | Jun 3 | $0.50 | |
| Jan 21, 2025 | Jan 21 | Mar 4 | $0.50 | raised from $0.432 |
| Oct 31, 2024 | Oct 31 | Dec 3 | $0.432 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 419.23M · Float 418.38M · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 39.43M | 9.41% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 26.03M | 6.21% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 23.86M | 5.69% | 13F | Aug 13, 2026 |
| State Street Corp | 19.67M | 4.69% | 13F | Aug 7, 2026 |
| State Farm Mutual Automobile Insurance Co | 15.89M | 3.79% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 13, 2026 | Paul Bisaro | director | +2,000 | $75.88 |
| May 13, 2026 | Frank A. Damelio | director | +6,650 | $75.39 |
| May 11, 2026 | Michael B. Mccallister | director | +3,000 | $77.76 |
| Feb 17, 2026 | Kristin C. Peck | director, officer: Chief Executive Officer | −20,000 | $127.05 |
Peers
- Merck
Second-largest animal health business globally; Bravecto leads parasiticides.
- Elanco Animal Health
Full-portfolio rival in parasiticides, dermatology, pain, and vaccines.
- IDEXX Laboratories
Vet diagnostics leader; in-clinic analyzers and reference labs vs Zoetis.
- Phibro Animal Health
Acquired Zoetis MFA portfolio (400M rev) to become a feed additive rival.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Zoetis | $77.47 | +0.23% | $32.42B | 12.7 | 12.5 | 3.4 | +0.3% |
| Merck | $148.19 | −0.08% | $366.18B | 118.7 | 17.2 | 5.5 | +5.1% |
| Elanco Animal Health | $24.11 | −0.06% | $12.04B | — | 20.3 | 2.4 | +10.2% |
| IDEXX Laboratories | $554.99 | +0.09% | $43.78B | 39.3 | 35.6 | 9.6 | +9.7% |
| Phibro Animal Health | $36.76 | −2.42% | $1.53B | 15.4 | 11.7 | 1.0 | +4.8% |
| Median | 39.3 | 18.7 | 4.0 | +7.4% |