Zoetis Inc.
ZTS · Pharmaceutical Preparations · 419.2M shares · -1%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $1.0B (gross $1.1B, SBC $60M)
Reference price $75.39 · est. market cap ~$31.6B — last insider purchase, 2026-05-13 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A88Animal-health leader — elite profitability and free cash flow with a durable franchise.
Strengths
- Elite profitability — net margin 28% (90th), ROE 80% (91st), ROA 17% (95th)
- Strong free cash flow — FCF $2.3B (98th), FCF margin 24%, OCF margin 31%
- Durable, diversified animal-health franchise — per 10-K
Risks
- Leverage — D/E 2.7 (94th)
- Generic/competitive pressure — per 10-K
- FX and livestock-cycle exposure — per 10-K
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~42% of revenue from one customer/distributor — For example, our five top-selling products and product lines, Simparica/Simparica Trio, Apoquel/Apoquel Chewable, Cytopoint, Librela and our ceftiofur line, contributed approximately 42% of our revenu
- High leverageHigh leverage (debt/equity 2.71)
- Insider buyingInsider buying — 3 open-market buy(s) by 3 insider(s) (cluster of 3 insiders, ~$886,367, last 6mo) Form 4 ↗
- Insider sellingInsider selling — 2 open-market sale(s) by 1 insider(s) (~$3M, last 6mo) Form 4 ↗
- Notable holderHeld by 6 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +3 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
71.8%
Net margin
28.2%
Return on equity
80.2%
Return on assets
17.3%
Revenue growth (QoQ)
-5.2%
Net-income growth
7.5%
Debt / equity
2.7×
Current ratio
3.0×
Free cash flow
$2.3B
Tangible book value
-$434M
Stock comp / revenue
0.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-10 | MCCALLISTER MICHAEL B | Gift | 1.2K | — |
| 2026-05-21 | Stetter Mark | Option exercise | 1.6K | — |
| 2026-05-20 | PARENT LOUISE M | Option exercise | 1.9K | — |
| 2026-05-20 | PARENT LOUISE M | Option exercise | 10K | — |
| 2026-05-13 | DAMELIO FRANK A | Buy | 6.7K | $75.39 |
| 2026-05-13 | Bisaro Paul | Buy | 2.0K | $75.88 |
| 2026-05-11 | MCCALLISTER MICHAEL B | Buy | 3.0K | $77.76 |
| 2026-04-30 | Esch Kevin | Option exercise | 259 | — |
| 2026-04-30 | Esch Kevin | Tax withheld | 75 | $114.97 |
| 2026-03-31 | Sarbaugh Keith | Option exercise | 1.5K | — |
| 2026-03-31 | Sarbaugh Keith | Tax withheld | 524 | $118.21 |
| 2026-03-09 | Norden Gregory | Gift | 1.2K | — |
| 2026-02-19 | PECK KRISTIN C | Tax withheld | 3.6K | $127.28 |
| 2026-02-19 | Ashton Nicholas | Option exercise | 750 | — |
| 2026-02-19 | Ashton Nicholas | Tax withheld | 392 | $127.28 |
| 2026-02-19 | Hattersley Gavin | Option exercise | 1.6K | — |
| 2026-02-19 | Hattersley Gavin | Other | 481 | $127.28 |
| 2026-02-19 | Lagano Roxanne | Option exercise | 750 | — |
| 2026-02-19 | Lagano Roxanne | Tax withheld | 258 | $127.28 |
| 2026-02-19 | Esch Kevin | Option exercise | 102 | — |
| 2026-02-19 | Esch Kevin | Tax withheld | 35 | $127.28 |
| 2026-02-19 | Brannan Jamie | Option exercise | 1.2K | — |
| 2026-02-19 | Sarbaugh Keith | Option exercise | 386 | — |
| 2026-02-19 | Sarbaugh Keith | Tax withheld | 154 | $127.28 |
| 2026-02-19 | Driscoll Rimma | Option exercise | 454 | — |
| 2026-02-19 | Driscoll Rimma | Tax withheld | 179 | $127.28 |
| 2026-02-19 | Ferran Astorga Jeannette | Option exercise | 431 | — |
| 2026-02-19 | Ferran Astorga Jeannette | Tax withheld | 190 | $127.28 |
| 2026-02-19 | Leatherberry Antoinette Renee | Option exercise | 1.6K | — |
| 2026-02-19 | Leatherberry Antoinette Renee | Other | 406 | $127.28 |
| 2026-02-19 | Bisaro Paul | Option exercise | 1.6K | — |
| 2026-02-19 | PARENT LOUISE M | Option exercise | 1.6K | — |
| 2026-02-19 | PARENT LOUISE M | Other | 615 | $127.28 |
| 2026-02-19 | Reed Willie M | Option exercise | 1.6K | — |
| 2026-02-19 | Brannan Jamie | Tax withheld | 566 | $127.28 |
| 2026-02-19 | MCCALLISTER MICHAEL B | Option exercise | 1.6K | — |
| 2026-02-19 | MCCALLISTER MICHAEL B | Other | 413 | $127.28 |
| 2026-02-19 | Norden Gregory | Option exercise | 1.6K | — |
| 2026-02-19 | Norden Gregory | Other | 406 | $127.28 |
| 2026-02-19 | Broadhurst Vanessa | Option exercise | 1.6K | — |
| 2026-02-19 | Broadhurst Vanessa | Other | 517 | $127.28 |
| 2026-02-19 | FULLER JULIE | Option exercise | 750 | — |
| 2026-02-19 | FULLER JULIE | Tax withheld | 290 | $127.28 |
| 2026-02-19 | Joseph Wetteny | Option exercise | 2.0K | — |
| 2026-02-19 | Joseph Wetteny | Tax withheld | 703 | $127.28 |
| 2026-02-19 | PECK KRISTIN C | Option exercise | 7.4K | — |
| 2026-02-17 | PECK KRISTIN C | Option exercise | 20K | $41.83 |
| 2026-02-17 | PECK KRISTIN C | Sell | 9.2K | $126.46 |
| 2026-02-17 | PECK KRISTIN C | Sell | 11K | $127.55 |
| 2026-02-08 | Ashton Nicholas | Tax withheld | 209 | $127.42 |
| 2026-02-08 | Esch Kevin | Option exercise | 50 | — |
| 2026-02-08 | Esch Kevin | Tax withheld | 18 | $127.42 |
| 2026-02-08 | Ashton Nicholas | Option exercise | 398 | — |
| 2026-02-08 | Lagano Roxanne | Option exercise | 605 | — |
| 2026-02-08 | Lagano Roxanne | Tax withheld | 221 | $127.42 |
| 2026-02-08 | Joseph Wetteny | Option exercise | 1.4K | — |
| 2026-02-08 | Joseph Wetteny | Tax withheld | 483 | $127.42 |
| 2026-02-08 | Ferran Astorga Jeannette | Option exercise | 218 | — |
| 2026-02-08 | Ferran Astorga Jeannette | Tax withheld | 97 | $127.42 |
| 2026-02-08 | Brannan Jamie | Option exercise | 380 | — |
| 2026-02-08 | Brannan Jamie | Tax withheld | 179 | $127.42 |
| 2026-02-08 | Driscoll Rimma | Option exercise | 192 | — |
| 2026-02-08 | Driscoll Rimma | Tax withheld | 77 | $127.42 |
| 2026-02-08 | PECK KRISTIN C | Option exercise | 6.2K | — |
| 2026-02-08 | PECK KRISTIN C | Tax withheld | 2.7K | $127.42 |
| 2026-02-06 | PECK KRISTIN C | Option exercise | 5.6K | — |
| 2026-02-06 | Ferran Astorga Jeannette | Tax withheld | 92 | $127.42 |
| 2026-02-06 | PECK KRISTIN C | Tax withheld | 1.9K | $127.42 |
| 2026-02-06 | Sarbaugh Keith | Option exercise | 119 | — |
| 2026-02-06 | Joseph Wetteny | Option exercise | 1.4K | — |
| 2026-02-06 | Joseph Wetteny | Tax withheld | 515 | $127.42 |
| 2026-02-06 | Sarbaugh Keith | Tax withheld | 48 | $127.42 |
| 2026-02-06 | Ferran Astorga Jeannette | Option exercise | 206 | — |
| 2026-02-06 | Brannan Jamie | Option exercise | 529 | — |
| 2026-02-06 | Brannan Jamie | Tax withheld | 249 | $127.42 |
| 2026-02-06 | Esch Kevin | Tax withheld | 15 | $127.42 |
| 2026-02-06 | Driscoll Rimma | Option exercise | 222 | — |
| 2026-02-06 | Driscoll Rimma | Tax withheld | 89 | $127.42 |
| 2026-02-06 | Ashton Nicholas | Option exercise | 381 | — |
| 2026-02-06 | Ashton Nicholas | Tax withheld | 200 | $127.42 |
| 2026-02-06 | Esch Kevin | Option exercise | 43 | — |
| 2026-02-06 | Lagano Roxanne | Option exercise | 544 | — |
| 2026-02-06 | Lagano Roxanne | Tax withheld | 217 | $127.42 |
| 2025-09-30 | FULLER JULIE | Tax withheld | 269 | $146.32 |
| 2025-09-30 | FULLER JULIE | Option exercise | 784 | — |
| 2025-09-15 | Lagano Roxanne | Gift | 700 | — |
| 2025-07-25 | Broadhurst Vanessa | Option exercise | 1.4K | — |
| 2025-07-25 | Broadhurst Vanessa | Other | 451 | $152.12 |
| 2025-06-03 | Lagano Roxanne | Sell | 652 | $170.00 |
| 2025-05-21 | SCULLY ROBERT W | Option exercise | 10K | — |
| 2025-05-21 | SCULLY ROBERT W | Option exercise | 1.6K | — |
| 2025-05-21 | SCULLY ROBERT W | Option exercise | 5.9K | — |
| 2025-05-20 | MCCALLISTER MICHAEL B | Gift | 1.8K | — |
| 2025-04-01 | Hattersley Gavin | Option exercise | 1.5K | — |
| 2025-03-31 | Sarbaugh Keith | Tax withheld | 516 | $164.65 |
| 2025-03-31 | Sarbaugh Keith | Option exercise | 1.5K | — |
| 2025-03-11 | Reed Willie M | Sell | 1.2K | $166.14 |
| 2025-03-10 | Lagano Roxanne | Sell | 326 | $170.00 |
| 2025-02-19 | PECK KRISTIN C | Sell | 382 | $156.68 |
| 2025-02-19 | PECK KRISTIN C | Option exercise | 382 | $46.09 |
| 2025-02-14 | Norden Gregory | Gift | 1.8K | — |
| 2025-02-11 | Lagano Roxanne | Sell | 326 | $171.18 |
| 2025-02-08 | Driscoll Rimma | Tax withheld | 76 | $171.43 |
| 2025-02-08 | Driscoll Rimma | Option exercise | 254 | — |
| 2025-02-08 | Driscoll Rimma | Tax withheld | 102 | $171.43 |
| 2025-02-08 | BISARO PAUL | Option exercise | 1.2K | — |
| 2025-02-08 | Ashton Nicholas | Option exercise | 393 | — |
| 2025-02-08 | Ashton Nicholas | Tax withheld | 205 | $171.43 |
| 2025-02-08 | Ashton Nicholas | Option exercise | 170 | — |
| 2025-02-08 | Ashton Nicholas | Tax withheld | 89 | $171.43 |
| 2025-02-08 | Brannan Jamie | Option exercise | 374 | — |
| 2025-02-08 | Brannan Jamie | Tax withheld | 176 | $171.43 |
| 2025-02-08 | Brannan Jamie | Option exercise | 289 | — |
| 2025-02-08 | Brannan Jamie | Tax withheld | 137 | $171.43 |
| 2025-02-08 | Joseph Wetteny | Option exercise | 1.4K | — |
| 2025-02-08 | Joseph Wetteny | Tax withheld | 476 | $171.43 |
| 2025-02-08 | Joseph Wetteny | Option exercise | 2.9K | — |
| 2025-02-08 | Joseph Wetteny | Tax withheld | 1.0K | $171.43 |
| 2025-02-08 | Ferran Astorga Jeannette | Option exercise | 214 | — |
| 2025-02-08 | Ferran Astorga Jeannette | Tax withheld | 86 | $171.43 |
| 2025-02-08 | Ferran Astorga Jeannette | Option exercise | 477 | — |
| 2025-02-08 | Ferran Astorga Jeannette | Tax withheld | 191 | $171.43 |
| 2025-02-08 | Norden Gregory | Option exercise | 1.2K | — |
| 2025-02-08 | Norden Gregory | Other | 308 | $171.43 |
| 2025-02-08 | PARENT LOUISE M | Option exercise | 1.2K | — |
| 2025-02-08 | PARENT LOUISE M | Other | 466 | $171.43 |
| 2025-02-08 | Leatherberry Antoinette Renee | Option exercise | 1.2K | — |
| 2025-02-08 | Leatherberry Antoinette Renee | Other | 308 | $171.43 |
| 2025-02-08 | PECK KRISTIN C | Option exercise | 6.1K | — |
| 2025-02-08 | PECK KRISTIN C | Tax withheld | 3.0K | $171.43 |
| 2025-02-08 | PECK KRISTIN C | Tax withheld | 6.2K | $171.43 |
| 2025-02-08 | Reed Willie M | Option exercise | 1.2K | — |
| 2025-02-08 | PECK KRISTIN C | Option exercise | 14K | — |
| 2025-02-08 | Lagano Roxanne | Option exercise | 597 | — |
| 2025-02-08 | Lagano Roxanne | Tax withheld | 226 | $171.43 |
| 2025-02-08 | Lagano Roxanne | Option exercise | 1.4K | — |
| 2025-02-08 | Lagano Roxanne | Tax withheld | 464 | $171.43 |
| 2025-02-08 | MCCALLISTER MICHAEL B | Option exercise | 1.2K | — |
| 2025-02-08 | MCCALLISTER MICHAEL B | Other | 313 | $171.43 |
| 2025-02-08 | SCULLY ROBERT W | Option exercise | 1.2K | — |
| 2025-02-08 | Polzer Robert J | Option exercise | 663 | — |
| 2025-02-08 | Polzer Robert J | Tax withheld | 190 | $171.43 |
| 2025-02-08 | Polzer Robert J | Option exercise | 1.4K | — |
| 2025-02-08 | Polzer Robert J | Tax withheld | 438 | $171.43 |
| 2025-02-08 | Driscoll Rimma | Option exercise | 190 | — |
| 2025-02-06 | Leatherberry Antoinette Renee | Option exercise | 1.2K | — |
| 2025-02-06 | Leatherberry Antoinette Renee | Other | 310 | $174.12 |
| 2025-02-06 | Broadhurst Vanessa | Option exercise | 1.2K | — |
| 2025-02-06 | Broadhurst Vanessa | Other | 395 | $174.12 |
| 2025-02-06 | PECK KRISTIN C | Option exercise | 5.5K | — |
| 2025-02-06 | PECK KRISTIN C | Tax withheld | 1.9K | $174.12 |
| 2025-02-06 | Joseph Wetteny | Option exercise | 1.4K | — |
| 2025-02-06 | Joseph Wetteny | Tax withheld | 497 | $174.12 |
| 2025-02-06 | Brannan Jamie | Option exercise | 521 | — |
| 2025-02-06 | Brannan Jamie | Tax withheld | 246 | $174.12 |
| 2025-02-06 | PARENT LOUISE M | Option exercise | 1.2K | — |
| 2025-02-06 | PARENT LOUISE M | Other | 470 | $174.21 |
| 2025-02-06 | SCULLY ROBERT W | Option exercise | 1.2K | — |
| 2025-02-06 | Ferran Astorga Jeannette | Option exercise | 203 | — |
| 2025-02-06 | Ferran Astorga Jeannette | Tax withheld | 82 | $174.12 |
| 2025-02-06 | Sarbaugh Keith | Option exercise | 117 | — |
| 2025-02-06 | Sarbaugh Keith | Tax withheld | 47 | $174.12 |
| 2025-02-06 | Polzer Robert J | Option exercise | 622 | — |
| 2025-02-06 | Polzer Robert J | Tax withheld | 209 | $174.12 |
| 2025-02-06 | Lagano Roxanne | Option exercise | 536 | — |
| 2025-02-06 | Lagano Roxanne | Tax withheld | 214 | $174.12 |
| 2025-02-06 | Reed Willie M | Option exercise | 1.2K | — |
| 2025-02-06 | MCCALLISTER MICHAEL B | Option exercise | 1.2K | — |
| 2025-02-06 | MCCALLISTER MICHAEL B | Other | 316 | $174.12 |
| 2025-02-06 | Ashton Nicholas | Option exercise | 375 | — |
| 2025-02-06 | Ashton Nicholas | Tax withheld | 196 | $174.12 |
| 2025-02-06 | Driscoll Rimma | Option exercise | 219 | — |
| 2025-02-06 | Driscoll Rimma | Tax withheld | 88 | $174.12 |
| 2025-02-06 | Norden Gregory | Option exercise | 1.2K | — |
| 2025-02-06 | Norden Gregory | Other | 310 | $174.12 |
| 2025-02-06 | BISARO PAUL | Option exercise | 1.2K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-22 | Exec/director changeShareholder vote | filing ↗ |
| 2026-05-20 | Reg FDExhibits | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-02-12 | ResultsExhibits | filing ↗ |
| 2026-02-05 | Reg FDExhibits | filing ↗ |
| 2025-12-18 | Material agreementDebt obligation3.02Reg FDExhibits | filing ↗ |
| 2025-12-11 | Reg FDExhibits | filing ↗ |
| 2025-12-02 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-22 | 2026-05-20 | 0001555280-26-000029 ↗ |
| 8-K | 2026-05-20 | 2026-05-20 | 0001555280-26-000026 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001555280-26-000024 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001555280-26-000021 ↗ |
| 10-K | 2026-02-12 | 2025-12-31 | 0001555280-26-000011 ↗ |
| 8-K | 2026-02-12 | 2026-02-12 | 0001555280-26-000008 ↗ |
| 8-K | 2026-02-05 | 2026-02-05 | 0001555280-26-000003 ↗ |
| 8-K | 2025-12-18 | 2025-12-15 | 0001193125-25-324853 ↗ |
| 8-K | 2025-12-11 | 2025-12-11 | 0001555280-25-000282 ↗ |
| 8-K | 2025-12-02 | 2025-12-02 | 0001555280-25-000280 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0001555280-25-000272 ↗ |
| 10-Q | 2025-11-04 | 2025-09-30 | 0001555280-25-000274 ↗ |