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Zoetis Inc.ZTS

Sector
Healthcare
Industry
Pharmaceutical Preparations
Exchange
NYSE

Stock Price $ZTS

Latest filings

You are here#35 of 40 in Healthcare by market cap

Filing record · 2016–202610-K1110-Q338-K135

ZTS filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 135 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Leadership change8-K · Oct ’19Oct ’19
  3. Leadership change8-K · Oct ’21Oct ’21
  4. Material agreement8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  15. $9.47B
YoY changeLargest recent move+16.5%in FY21Latest +2.3%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All ZTS Financial Metrics60 metrics

Income Statement13

Balance Sheet28

Cash Flow14

Per Share5

02—Overview

Zoetis Inc. Financial Overview 2021–2025

Updated Jul 10, 2026

Zoetis has engineered a decisive shift in its revenue base, with companion animal products swelling to a dominant 70%a of total sales by the end of FY2025. This structural transition away from livestock insulates the business from agricultural cyclicality and taps directly into inelastic consumer spending on pet healthcare. The underlying data outlines a highly profitable compounder leveraging aggressive price increases and massive share repurchases to drive earnings growth even as top-line volume normalizes.

Total revenue expanded steadily from $7.78 billion in FY2021 to $9.47 billionb in FY2025. While overall top-line growth decelerated to 2% in FY2025, Zoetis continues to extract more profit per dollar of sales through persistent price hikes and strategic divestitures like its medicated feed additive portfolio. These pricing levers pushed full-year net income up 8% to $2.67 billion in FY2025. The company channels this cash generation directly into equity reduction, authorizing a $6 billion buyback program in FY2024 and retiring millions of shares to concentrate ownership. At the close of FY2025, the market valued the resulting $53.5 billion enterprise at 20.9x earnings, with the stock trading at $125.82.

Recent Developments (Q4 2025 and Q1 2026)

Zoetis reported Q1 2026 revenue of $2.26 billionc, a 3% year-over-year increase supported by foreign exchange and price hikes. Net income contracted 1% to $601 million, while gross margins narrowed to 71.7% from 71.9% a year earlier. The company agreed to acquire Neogen's animal genomics business, scheduled to close in the second half of 2026. Segment performance diverged, with U.S. revenues falling 8% due to companion animal competition, while international sales surged 17%. Research and development expenses climbed 11% to $180 million.

Bulls view the genomics acquisition and a sustained $0.53d quarterly dividend as strong indicators of capital deployment, with shares trading at 14.5x earnings as of May 7, 2026. Bears warn that a 1% operational revenue decline and falling U.S. volumes expose vulnerabilities to rising market competition.

What to watch: closing of the Neogen animal genomics acquisition; recovery in U.S. companion animal product volumes.

03—Filings

Recent SEC Filings

  1. 8-KZoetis Inc. 8-K Report, Executive Changes (Oct 13, 2026)Zoetis Inc. (NYSE: ZTS) filed a Form 8-K on October 13, 2026 disclosing the appointment of Iris Knobloch to its Board of Directors, effective December 1, 2026. Under Item 5.02, the Board appointed Ms. Knobloch on October 8, 2026, to serve on the Corporate Governance Committee, and the Board size will expand from twelve to thirteen members. The filing states she was not selected under any arrangement with a third party and has no reportable related-party transactions. She will receive the standard non-employee director compensation and enter into the Company's standard indemnification agreement. The appointment is a governance event rather than a financial one. The filing contains no financial results, guidance, M&A activity, or changes to executive management, and it does not affect Zoetis's reported financials or operations. Investors should view it as routine board refreshment, with the most notable element being the addition of a director with consumer, digital, and international media experience to a company in animal health. Ms. Knobloch's current board seats at Deezer, Lazard, and Vail Resorts, along with her past roles, could be relevant to how the board addresses consumer strategy and digital initiatives. The Company's CEO, Kristin Peck, and Board Chair, Michael McCallister, both praised the appointment, linking it to the Company's innovation strategy, customer engagement, and new ways to reach pet owners. The Item 7.01 press release is furnished, not filed, and carries no material new financial information. Overall, the filing is low-impact for near-term valuation and fundamentals.
  2. 8-KZoetis Inc. 8-K Report, Regulation FD Disclosure (Oct 8, 2026)Zoetis Inc. (ZTS) has announced a quarterly dividend payment of $0.53 per share for the fourth quarter of 2026. This declaration, made on October 8, 2026, signals continued commitment to returning capital to shareholders. The dividend is scheduled to be paid on December 1, 2026, to shareholders of record as of October 30, 2026. This information is being disclosed under Regulation FD and is accompanied by a press release. While this filing focuses solely on the dividend declaration and does not provide updates on financial performance or strategic initiatives, it represents a regular step in Zoetis' capital allocation strategy. Investors seeking to participate in this dividend should ensure their holdings are registered by the specified record date. The company has also included the standard cover page interactive data file in its filing.
  3. 8-KZoetis Inc. 8-K Report, Executive Changes (Aug 6, 2026)Zoetis (ZTS) announced that James "Jay" Saccaro will become Executive Vice President, Chief Financial Officer and Chief Operating Officer, effective August 17, 2026. The role is newly created and combines the global finance function (capital allocation, financial strategy, reporting and controls, investor engagement) with oversight of Global Manufacturing and Supply. Saccaro will be the principal financial and principal accounting officer. He comes from GE HealthCare, where he has been CFO since June 2023, and previously spent roughly eight years as CFO of Baxter International. The 8-K also reports a planned CFO transition: Wetteny Joseph, the current EVP and CFO, will step down from the executive role after August 16, 2026 and remain a non-executive officer until the earlier of February 28, 2027 or a mutually agreed date. The company states his departure was not due to any disagreement on operations, policies, practices, accounting, or internal controls. Saccaro's compensation package includes a $1,000,000 base salary, a 100% of salary target bonus (2026 paid at target and pro-rated), and a $5,000,000 annual long-term incentive target (50% PSUs, 25% RSUs, 25% stock options). He also receives a one-time make-whole RSU award with a $6,250,000 grant-date value vesting in thirds over three years, plus a $1,250,000 one-time cash award subject to repayment if he is terminated under certain circumstances within his first year. Joseph will keep his base salary, benefits and equity vesting through his termination date, may earn a 2026 annual incentive at target subject to company performance funding, and will receive Executive Severance Plan benefits on departure. His outstanding equity will be treated as a Restructuring Event. For investors, the key points are continuity of finance leadership through a planned handover and the expanded mandate, which places manufacturing and supply under the CFO and signals a focus on operational execution alongside capital allocation. The filing does not discuss financial results or guidance changes. The make-whole awards and the planned CEO-level reporting of Joseph as a special advisor on financial matters through early 2027 suggest a deliberately managed transition rather than an abrupt departure.
  4. 8-KZoetis Inc. 8-K Report, Financial Results (Aug 6, 2026)Zoetis reported second quarter 2026 results on August 6, 2026, with revenue flat year over year at $2.5 billion ($2,468 million) on a reported basis and down 1% on an organic operational basis. GAAP net income was $691 million, or $1.65 per diluted share, down 5% in dollars but up 1% per share thanks to a lower share count (417.7 million diluted shares versus 445.5 million a year earlier). Adjusted net income was $781 million, or $1.87 per diluted share, down 2% organically. The quarter was dominated by weakness in the U.S. Companion Animal business, where revenue fell 11% on softer end-market demand, pricing pressure on the dermatology franchise and Simparica Trio, and generic competition for Cerenia and Convenia. Livestock (up 23% in the U.S.) and International growth (up 6% organically) partly offset the decline. The more significant news for investors is the guidance cut. Full-year 2026 revenue guidance was lowered to $9.120-$9.320 billion, implying organic operational growth of (3)% to (1)%, down from the prior 2% to 5% range given in May. Adjusted diluted EPS guidance was reduced to $6.15-$6.25 from $6.85-$7.00, and reported diluted EPS guidance to $5.55-$5.65 from $6.35-$6.50. Management attributed the revision to a more pressured Companion Animal market, including lower clinic visits, pet owner price sensitivity, and heightened competition. The company also flagged higher restructuring and cost-reduction charges, with certain significant items and acquisition-related costs now expected to total about $150 million, up from $100 million. Management is responding with targeted commercial investments, accelerated innovation, and business development. The company highlighted new approvals and launches, including Lenivia and Portela (long-acting osteoarthritis pain antibodies), Dectomax-CA1 as the first FDA conditional approval for New World screwworm, and the VitalRADS teleradiology acquisition. Investors should weigh these pipeline and diversification efforts against near-term earnings pressure, the sharp guidance reduction, and the ongoing Companion Animal headwinds.
  5. 8-KZoetis Inc. 8-K Report, Executive Changes (May 22, 2026)Zoetis Inc. (ZTS) filed an 8-K on May 22, 2026, reporting on its 2026 Annual Meeting of Shareholders held on May 20, 2026. The filing details the outcomes of five proposals voted on by shareholders, with a notable 90.13% of outstanding shares represented, indicating strong shareholder engagement. The meeting also marked the retirement of Ms. Louise M. Parent from the Board of Directors in accordance with the company's retirement policy. Key outcomes include the overwhelming re-election of all twelve director nominees, demonstrating continued confidence in the board's leadership. Shareholders also approved, on an advisory basis, the executive compensation program and affirmed the preference for an annual advisory vote on executive compensation. The appointment of KPMG LLP as the independent registered public accounting firm for fiscal year 2026 was ratified. However, a shareholder proposal to permit action by written consent was not approved.
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04—See also

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