Zoetis Inc.ZTS
Zoetis Inc. Financial Overview 2021–2025
Updated Jul 10, 2026Zoetis has engineered a decisive shift in its revenue base, with companion animal products swelling to a dominant 70% 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 billion 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 billion, 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 $0.53 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.
Rev
$9.47B
FY2025
NI
$2.67B
FY2025
EPS
$6.03
FY2025
OCF
$2.90B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
Zoetis 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.
Zoetis Inc. 8-K Report, Regulation FD Disclosure (May 20, 2026)
Zoetis Inc. (ZTS) has announced a quarterly dividend of $0.53 per share for the third quarter of 2026. This announcement, made on May 20, 2026, provides a clear income stream update for its shareholders. The dividend payment is scheduled for September 1, 2026, with a record date of July 20, 2026, ensuring that investors holding the stock by mid-July will be eligible to receive this payout.
Zoetis Inc. 8-K Report, Financial Results (May 7, 2026)
Zoetis Inc. (ZTS) has filed an 8-K report on May 7, 2026, announcing its first-quarter 2026 financial results and providing guidance for the full fiscal year 2026. The report primarily references a press release (Exhibit 99.1) which contains the detailed financial outcomes and forward-looking statements. Investors should review the furnished press release for specific performance metrics, revenue figures, profitability, and any changes or confirmations to the previously issued full-year outlook. This filing serves as the official notification of the company's latest financial performance and strategic direction as communicated to the market.
Zoetis Inc. 8-K Report, Financial Results (Feb 12, 2026)
Zoetis Inc. (ZTS) has filed an 8-K report on February 12, 2026, primarily to announce its financial results for the fourth quarter and full year ended December 31, 2025. The filing also includes the company's financial guidance for the upcoming full year 2026. Investors should refer to the furnished press release (Exhibit 99.1) for detailed financial performance metrics and future outlook. While specific figures are not detailed within the 8-K text itself, the furnished press release is the key document for understanding Zoetis' performance in 2025, including revenue, profitability, and key growth drivers. Furthermore, the guidance provided for 2026 will be crucial for assessing the company's strategic direction and potential for continued growth in the animal health sector.
Zoetis Inc. 8-K Report, Regulation FD Disclosure (Feb 5, 2026)
Zoetis Inc. (ZTS) has filed a Current Report (8-K) on February 5, 2026, primarily announcing its second-quarter 2026 dividend declaration. The company has declared a dividend of $0.53 per share, which is a positive signal to investors regarding the company's financial health and commitment to returning capital to shareholders. This dividend payment is scheduled for June 2, 2026, with a record date of April 20, 2026, providing clear timelines for eligible shareholders.
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