Financials Zoetis Inc.

Equities

ZTS

US98978V1035

Pharmaceuticals

Market Closed - Nyse 04:00:02 2024-05-10 pm EDT 5-day change 1st Jan Change
169 USD +0.54% Intraday chart for Zoetis Inc. +1.18% -14.35%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 63,038 78,657 115,457 68,303 90,615 77,132 - -
Enterprise Value (EV) 1 67,551 82,252 118,564 72,626 95,138 81,440 80,881 80,359
P/E ratio 42.6 x 48.4 x 57.1 x 32.6 x 38.9 x 30.9 x 28 x 25.6 x
Yield 0.52% 0.51% 0.44% 0.92% 0.79% 1.02% 1.16% 1.31%
Capitalization / Revenue 10.1 x 11.8 x 14.8 x 8.45 x 10.6 x 8.43 x 7.9 x 7.43 x
EV / Revenue 10.8 x 12.3 x 15.2 x 8.99 x 11.1 x 8.9 x 8.28 x 7.74 x
EV / EBITDA 24.6 x 28 x 34.5 x 20.4 x 25.6 x 20.4 x 18.7 x 17.7 x
EV / FCF 50.6 x 49.2 x 68.3 x 54.8 x 58.7 x 37 x 33.1 x 29.8 x
FCF Yield 1.98% 2.03% 1.46% 1.83% 1.7% 2.7% 3.02% 3.36%
Price to Book 23.2 x 20.9 x 25.4 x 15.4 x 18.1 x 13 x 11.1 x 9.39 x
Nbr of stocks (in thousands) 476,299 475,268 473,126 466,072 459,114 456,295 - -
Reference price 2 132.4 165.5 244.0 146.6 197.4 169.0 169.0 169.0
Announcement Date 2/13/20 2/16/21 2/15/22 2/14/23 2/13/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 6,260 6,675 7,776 8,080 8,544 9,153 9,767 10,387
EBITDA 1 2,743 2,940 3,434 3,561 3,722 3,984 4,317 4,532
EBIT 1 2,331 2,499 2,986 3,096 3,231 3,493 3,810 4,097
Operating Margin 37.24% 37.44% 38.4% 38.32% 37.82% 38.17% 39.01% 39.45%
Earnings before Tax (EBT) 1 1,801 1,996 2,488 2,656 2,936 3,221 3,530 3,845
Net income 1 1,500 1,638 2,037 2,114 2,344 2,511 2,762 3,012
Net margin 23.96% 24.54% 26.2% 26.16% 27.43% 27.44% 28.28% 29%
EPS 2 3.110 3.420 4.270 4.490 5.070 5.477 6.039 6.591
Free Cash Flow 1 1,335 1,673 1,736 1,326 1,621 2,202 2,446 2,701
FCF margin 21.33% 25.06% 22.33% 16.41% 18.97% 24.06% 25.05% 26%
FCF Conversion (EBITDA) 48.67% 56.9% 50.55% 37.24% 43.55% 55.28% 56.66% 59.59%
FCF Conversion (Net income) 89% 102.14% 85.22% 62.72% 69.16% 87.7% 88.56% 89.66%
Dividend per Share 2 0.6920 0.8500 1.075 1.350 1.557 1.727 1.965 2.215
Announcement Date 2/13/20 2/16/21 2/15/22 2/14/23 2/13/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 1,967 1,986 2,052 2,002 2,040 2,000 2,180 2,151 2,213 2,190 2,313 2,296 2,356 2,300 2,443
EBITDA 1 756 946 887 879 849 857 - - - - 988 954 982 - -
EBIT 1 639 832 770 764 730 770 877 839 745 838 918.4 903.2 857.3 881.3 981
Operating Margin 32.49% 41.89% 37.52% 38.16% 35.78% 38.5% 40.23% 39.01% 33.66% 38.26% 39.7% 39.34% 36.38% 38.32% 40.16%
Earnings before Tax (EBT) 1 - - - - - - - - 650 747 858 828 859 - -
Net income 1 414 595 529 529 461 552 671 596 525 599 668.3 642.9 634.6 - -
Net margin 21.05% 29.96% 25.78% 26.42% 22.6% 27.6% 30.78% 27.71% 23.72% 27.35% 28.89% 28% 26.93% - -
EPS 2 0.8700 1.260 1.120 1.130 0.9900 1.190 1.450 1.290 1.140 1.310 1.426 1.406 1.348 1.345 1.480
Dividend per Share 2 0.3250 0.3250 0.3250 0.3250 0.3250 0.3750 0.3750 - 0.8070 - 0.4250 0.4250 0.4250 0.5000 0.5000
Announcement Date 2/15/22 5/5/22 8/4/22 11/3/22 2/14/23 5/4/23 8/8/23 11/2/23 2/13/24 5/2/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 4,513 3,595 3,107 4,323 4,523 4,308 3,749 3,227
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.645 x 1.223 x 0.9048 x 1.214 x 1.215 x 1.081 x 0.8684 x 0.7121 x
Free Cash Flow 1 1,335 1,673 1,736 1,326 1,621 2,203 2,446 2,701
ROE (net income / shareholders' equity) 71.7% 56.9% 49% 47.3% 52.3% 49.1% 45% 42.8%
ROA (Net income/ Total Assets) 15.7% 14.7% 14.8% 14.7% 16% 16.8% 17.1% 17.2%
Assets 1 9,539 11,172 13,754 14,413 14,606 14,966 16,159 17,504
Book Value Per Share 2 5.690 7.930 9.610 9.490 10.90 13.00 15.20 18.00
Cash Flow per Share 2 3.730 4.440 4.640 4.060 5.090 6.270 7.020 7.800
Capex 1 460 453 477 586 732 871 883 843
Capex / Sales 7.35% 6.79% 6.13% 7.25% 8.57% 9.52% 9.04% 8.12%
Announcement Date 2/13/20 2/16/21 2/15/22 2/14/23 2/13/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
169 USD
Average target price
211 USD
Spread / Average Target
+24.82%
Consensus
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  4. Financials Zoetis Inc.
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