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Zoetis Inc. (ZTS)

Zoetis works in animal health: the discovery, development, manufacture and commercialisation of medicines, vaccines, diagnostic products and services, biodevices, genetic tests and precision animal health. It sells across eight core species, dogs, cats and horses as companion animals and cattle, swine, poultry, fish and sheep as livestock, and within seven product categories: parasiticides, vaccines, dermatology, anti-infectives, pain and sedation, other pharmaceutical, and animal health diagnostics. It was incorporated in Delaware in July 2012, having previously been a business unit of Pfizer, and its principal executive offices are in Parsippany, New Jersey. At the end of 2025 it had approximately 14,500 employees, approximately 6,800 in the United States and approximately 7,700 elsewhere.

Zoetis Inc.

Zoetis works in animal health: the discovery, development, manufacture and commercialisation of medicines, vaccines, diagnostic products and services, biodevices, genetic tests and precision animal health. It sells across eight core species, dogs, cats and horses as companion animals and cattle, swine, poultry, fish and sheep as livestock, and within seven product categories: parasiticides, vaccines, dermatology, anti-infectives, pain and sedation, other pharmaceutical, and animal health diagnostics. It was incorporated in Delaware in July 2012, having previously been a business unit of Pfizer, and its principal executive offices are in Parsippany, New Jersey. At the end of 2025 it had approximately 14,500 employees, approximately 6,800 in the United States and approximately 7,700 elsewhere.

Two segments, and a concentrated product list

The business is organised as United States and International, because customer needs differ by region on economic, cultural, epidemiological, treatment, environmental and regulatory grounds. The United States was 54% of revenue in 2025 and International 45%, with a Client Supply Services contract manufacturing organisation and human health products making up the remaining 1%. The mix differs sharply between the two: in the United States companion animal products were 83% of revenue and livestock 17%, while internationally the split was 56% and 44%.

Sales are concentrated in a few product lines. In 2025 the two largest, Simparica with Simparica Trio and Apoquel with Apoquel Chewable, were approximately 16% and 12% of revenue. With the next three, Cytopoint, Librela and the ceftiofur line, those five were approximately 42% of revenue, and the ten largest were approximately 57%.

Companion animal products

The parasiticides come first. Simparica is a monthly chewable tablet for dogs against fleas and ticks, and Simparica Trio adds heartworm disease, roundworms and hookworms in one dose. Revolution and Stronghold are monthly topical treatments covering fleas, lice, heartworm and ear mites in cats and dogs, with the Plus versions adding ticks and roundworms in cats. ProHeart is an injection given annually or semi-annually to prevent heartworm infestation and to treat hookworm.

In dermatology, Apoquel is a selective inhibitor of the Janus Kinase 1 enzyme controlling itching from allergic dermatitis and atopic dermatitis in dogs from 12 months old, and Cytopoint is an injectable that reduces the signs of atopic dermatitis in dogs of any age. Pain and sedation covers Librela and Solensia, monthly injectable antibody therapies for osteoarthritis pain in dogs and cats respectively, and Rimadyl for pain and inflammation from osteoarthritis and after surgery. The anti-infectives are Clavamox and Synulox, a broad-spectrum antibiotic for dogs and cats, and Convenia, an injectable for bacterial skin infections. The Vanguard and Versican vaccine lines protect dogs against leptospirosis, Bordetella, influenza and parainfluenza, adenovirus, distemper, parvovirus and Lyme disease. Cerenia prevents and treats vomiting in dogs and cats, and the Vetscan Chemistry Analyzer is a benchtop diagnostic instrument with chemistry, electrolyte, acid-base and immunoassay tests and its own consumables.

Livestock products

The vaccine lines are Fostera and Suvaxyn for swine, against porcine circovirus type 2, porcine reproductive and respiratory syndrome virus and Mycoplasma hyopneumoniae; Poulvac for poultry, against Salmonella, Marek's disease, infectious bursal disease, Newcastle disease, infectious bronchitis and avian influenza; and Rispoval and Bovi-Shield for cattle, against respiratory and reproductive diseases. Improvac, sold as Improvest and Vivax in some markets, reduces boar taint as an alternative to surgical castration. The ceftiofur line is an injectable broad-spectrum cephalosporin antibiotic including Excede, Excenel RTU EZ and Naxcel, plus Spectramast for mastitis in dairy cattle delivered by intramammary infusion. Draxxin is an injectable antibiotic for bovine and swine respiratory disease, with Draxxin KP adding ketoprofen to bring a fever down. Dectomax is an injectable or pour-on endectocide against internal and external parasites.

How it reaches the customer

Zoetis markets directly in approximately 45 countries across North America, Europe, Africa, Asia, Australia and South America, and its products are sold in more than 100 countries. Operations outside the United States accounted for 45% of total revenue in 2025. The sales organisation was approximately 3,900 people at the end of 2025. It pairs sales representatives with technical and veterinary operations specialists, who generally hold advanced veterinary medicine degrees and who consult on disease and herd management and run training. Distributors handle logistics and sales and marketing support for many products, and are the sole route in regions where the company keeps no direct commercial presence. Products are primarily available by prescription through a veterinarian, with some sold through retail and e-commerce outlets, and in markets such as the United States, where pet owners take a more active part in the purchase decision, the company is increasing its direct-to-consumer marketing. Research and development employed approximately 1,700 people at the end of 2025, headquartered in Kalamazoo, Michigan, with sites co-located with manufacturing to ease the transfer of production processes out of the laboratory.

From Zoetis' annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Zoetis became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 5 November 2026
Revenue
$2.4 billion
-1.3% on the year · -3.1% on the quarter
Q4 FY2024Q3 FY2026
Net income
$591 million
-18.0% on the year · -14.5% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$1.44
-11.7% on the year · -12.7% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 12 February 2026
Revenue
$9.5 billion
+2.3% on the year
FY2018FY2025
Net income
$2.7 billion
+7.5% on the year
FY2018FY2025
Diluted EPS
$6.02
+10.1% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsZoetis (ZTS) reported revenue of $9.5 billion for fiscal 2025, the year ended 31 December 2025, up 2.3% on the year before. Net income was $2.7 billion and diluted earnings per share $6.02. Revenue was $9.3 billion in fiscal 2024, $8.5 billion in fiscal 2023, $8.1 billion in fiscal 2022 and $7.8 billion in fiscal 2021. Net income in the same years was $2.5 billion, $2.3 billion, $2.1 billion and $2.0 billion. Over the twelve months to 30 September 2026, Zoetis reported revenue of $9.5 billion and net income of $2.5 billion. Revenue grew 7.2% a year, compounded, over the five years to fiscal 2025. Zoetis declared $2.03 a share in dividends over the last four quarters and had 407 million shares outstanding at the latest filed count. At 30 September 2026 it carried $9.0 billion of debt and $1.3 billion of cash. At the close of 6 November 2026 the market cap of Zoetis was $32.4 billion, 13.5 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE75.3%
ROCEn/a
Operating marginn/a
Net margin26.1%
FCF margin24.0%
Interest covern/a
Debt to equity2.74x
Cash conversion1.12x
Share count, last 12 months-7.7%
Sales CAGR, 3 years5.4%
Profit CAGR, 3 years8.1%
EPS, TTM$5.88

At the close of 6 November 2026

Price$79.43
Market cap$32.4 billion
Stock P/E13.5x
Price to book9.8x
EV / EBITDAn/a
Dividend yield2.6%
Market cap / sales3.4x
52-week high$131.10
52-week low$69.11
Price, 1 year-33.6%
Price CAGR, 3 years-22.0%
Price CAGR, 5 years-18.2%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Zoetis Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
ZTSgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025 †Q2 FY2025 †Q3 FY2025 †Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue1,9671,9862,0522,0022,0402,0002,1802,1512,2132,1902,3612,3882,3172,1982,4742,4222,3872,2622,4682,391
Cost of revenue600569625607653588607638728643668701707618664697712641673698
Gross profit1,3671,4171,4271,3951,3871,4121,5731,5131,4851,5471,6931,6871,6101,5801,8101,7251,6751,6211,7951,693
Gross margin69%71%70%70%68%71%72%70%67%71%72%71%69%72%73%71%70%72%73%71%
R&D138122135134148142146152174162171167186162166175199180173174
SG&A593465529501514505556525565547581565625574614582619588592582
Interest expense54.053.053.053.062.063.058.059.059.058.059.057.051.054.053.058.057.062.061.062.0
Pre-tax income506727670667592697872717650747780874732773912887761758866729
Tax rate18%18%21%21%22%21%23%17%20%20%20%21%21%22%20%19%21%21%20%19%
Net income414595529529461552671596525599624682581602726721603601691591
Net margin21%30%26%26%23%28%31%28%24%27%26%29%25%27%29%30%25%27%28%25%
Diluted EPS$0.87$1.26$1.12$1.13$0.99$1.19$1.45$1.29$1.14$1.31$1.37$1.50$1.29$1.34$1.63$1.63$1.37$1.42$1.65$1.44
Operating cash flow679309336526741549183724897595502951905587486938893401655824
Capital expenditure168115146154171223166145198140132167216149178133161110117107
Free cash flow51119419037257032617.0579699455370784689438308805732291538717
Buybacks1983614513774052833242502353395334335534433383942,0601,535n/a500
Dividends paid117154153153151174173173172198197197194224223222220224223219
Shares outstanding473m471m469m466m464m462m461m460m458m457m454m452m448m446m444m441m425m420m414m407m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2011FY2012FY2013FY2014 †FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue4,2334,3364,5614,7854,7654,8885,3075,8256,2606,6757,7768,0808,5449,2569,4679,508
Cost of revenue1,6521,5631,6691,7171,7381,6661,7751,9111,9922,0572,3032,4542,5612,7192,6662,724
Gross profit2,5812,7732,8923,0683,0273,2223,5323,9144,2684,6185,4735,6265,9836,5376,8016,784
Gross margin61.0%64.0%63.4%64.1%63.5%65.9%66.6%67.2%68.2%69.2%70.4%69.6%70.0%70.6%71.8%71.4%
Research and development427409399396364376382432457463508539614686698726
Selling, general and administrative1,4531,4701,6131,6431,5321,3641,3341,4841,6381,7262,0012,0092,1512,3182,3782,381
Interest expense36.031.0113117124166175206223231224221239225222242
Pre-tax income3947106908205451,2281,5251,6901,8011,9962,4882,6562,9363,1333,3603,114
Income tax146274187233206409663266301360454545596637687628
Effective tax rate37.1%38.6%27.1%28.4%37.8%33.3%43.5%15.7%16.7%18.0%18.2%20.5%20.3%20.3%20.4%20.2%
Net income2454365045833398218641,4281,5001,6382,0372,1142,3442,4862,6732,486
Net margin5.8%10.1%11.1%12.2%7.1%16.8%16.3%24.5%24.0%24.5%26.2%26.2%27.4%26.9%28.2%26.1%
Diluted EPS$0.49$0.87$1.01$1.16$0.68$1.65$1.75$2.93$3.11$3.42$4.27$4.49$5.07$5.47$6.02$5.88
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2011 to FY2025, 1 year left out

FY2011FY2012FY2013FY2014FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
United States Segmentn/an/an/an/a2,4472,6202,8773,2033,5574,0424,3134,5555,0745,09754.5%
International Segmentn/an/an/an/a2,3902,6432,8902,9723,0353,6523,6813,9114,1024,25445.5%
Other business activities0285350n/an/an/an/an/an/an/an/an/an/an/a
Reportable Segment4,2334,3084,5084,735n/an/an/an/an/an/an/an/an/an/an/a
United States Segment FY2016 to FY2025International Segment FY2016 to FY2025Reportable Segment FY2011 to FY2014Other business activities FY2012 to FY2014
4,336FY20124,785FY20145,263FY20176,175FY20197,694FY20218,466FY20239,351FY2025

$ million; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Profit by segment FY2011 to FY2025, 2 years left out

The profit before tax each segment reports. Costs Zoetis does not charge to a segment are left out, so the segments can add up to more than the company's own profit before tax.

FY2011FY2012FY2013FY2014FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Margin
FY2025
United States Segmentn/an/an/an/a1,6371,8152,0052,2392,5692,7632,8633,3363,43867.5%
International Segmentn/an/an/an/a1,2401,3991,4871,5471,9481,9902,0372,1182,26453.2%
Other business activities-279-276-317-318-313-337-348-372-406-424-496-562-562n/a
Reportable Segment1,6561,7861,9942,201n/an/an/an/an/an/an/an/an/an/a
United States Segment FY2017 to FY2025Reportable Segment FY2011 to FY2014International Segment FY2017 to FY2025Other business activities
1,377FY20111,677FY20132,564FY20173,144FY20194,111FY20214,404FY20235,140FY2025

$ million; the figure over a bar is all the segments together; a year a segment lost money, it hangs below the line. Hover a block for its profit, sales and margin.

FY2025Share of salesShare of profit
United States Segment55%60%
International Segment45%40%
Other business activities0%a loss

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has a profit before tax figure. A margin is a segment's profit before tax over its own sales.

Cash flow

FY2011FY2012FY2013FY2014 †FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow4974546816266647131,3461,7901,7952,1262,2131,9122,3532,9532,9042,773
Capital expenditure135126184180224216224338460453477586732655621495
Free cash flow3623284974464404971,1221,4521,3351,6731,7361,3261,6212,2982,2832,278
Free cash flow margin8.6%7.6%10.9%9.3%9.2%10.2%21.1%24.9%21.3%25.1%22.3%16.4%19.0%24.8%24.1%24.0%
Cash from investing-449-135-179-187-1,115-214-270-2,259-504-572-458-883-777-315-748-815
Cash from financing-30.0-78.0-200-154755-903-251533-951123-1,862-904-3,109-2,660-1,870-2,866
Depreciation and amortisation205200209204199240242308412441448465491497487478
Share-based compensation19.028.043.032.043.037.044.053.067.059.058.062.060.074.083.0100
Buybacksn/an/a0.00.02033005006986262507431,5941,0921,8583,235n/a
Dividends paid41663.098.0146168188206243314380474611692786889886
Dividend per share$0.00$0.00$0.27$0.30$0.34$0.39$0.44$0.54$0.69$0.85$1.07$1.35$1.56$1.80$2.03n/a
Diluted shares, weighted500m500m500m502m502m498m493m487m482m479m477m470m462m455m444m412m
Shares outstanding at period endn/an/a500m501m497m493m486m480m476m475m473m464m458m448m425m407m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2011FY2012FY2013FY2014 †FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity3,7364,0269401,3111,0681,4871,7702,1852,7083,7694,5434,4054,9974,7703,3313,303
Non-controlling interestn/a15.022.026.023.012.016.00.00.04.01.0-2.0-6.00.00.00.0
Short-term borrowingsn/an/an/an/an/an/an/a9.00.04.00.02.03.00.0n/an/a
Debtn/a5823,6423,6244,8634,4684,9536,4436,4477,1956,5927,9026,5646,5709,0429,049
Operating lease liabilitiesn/an/an/an/an/an/an/a0.0164163151186188174196188
Finance lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/a0.08.07.06.0n/a
Other liabilitiesn/a1,6391,9541,6271,9591,6821,8472,1402,2262,4742,6132,4322,5322,7162,8922,548
Total liabilities and equityn/a6,2626,5586,5887,9137,6498,58610,77711,54513,60913,90014,92514,28614,23715,46715,088
Owned
Fixed assetsn/a1,2411,2951,3181,3071,3811,4351,6581,9402,2022,4222,7533,2043,3913,6813,782
Goodwill9899859829761,4551,4811,5102,5192,5922,6942,6822,7462,7592,7242,7672,888
Intangible assetsn/a8688037271,1901,2281,2692,0461,8901,7101,4741,3801,3381,127998850
Investmentsn/an/an/an/an/an/a0.099.00.0n/an/an/an/an/a0.0200
Cash and equivalents79.03176108821,1547271,5641,6021,9343,6043,4853,5812,0411,9872,4501,333
Receivablesn/a9001,1389809379139981,0361,0861,0131,1331,2151,3041,3161,5901,692
Inventoryn/a1,3451,2931,2891,4671,5021,4271,3911,4101,6281,9232,3452,5642,3062,4302,536
Other assetsn/a6064374164034173834266937587819051,0761,3861,5511,807
Total assetsn/a6,2626,5586,5887,9137,6498,58610,77711,54513,60913,90014,92514,28614,23715,46715,088
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded7.1%7.2%5.4%1.0%
Profit growth, compounded22.9%10.3%8.1%-5.5%
Return on equity, average54.0%54.4%59.8%80.2%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Zoetis' revenue in fiscal 2025?

Zoetis (ZTS) reported revenue of $9.5 billion for fiscal 2025, the year ended 31 December 2025, up 2.3% on the year before.

How much did Zoetis earn in fiscal 2025?

Net income was $2.7 billion for fiscal 2025, and diluted earnings per share $6.02.

What is Zoetis' P/E ratio?

At the close of 6 November 2026, Zoetis traded at 13.5 times its earnings over the twelve months to 30 September 2026.

What is Zoetis' market cap?

The market cap of Zoetis was $32.4 billion at the close of 6 November 2026.

Does Zoetis pay a dividend?

Yes. Zoetis declared $2.03 a share in dividends over the four quarters to 30 September 2026.

Peers: Pharmaceutical Products

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Eli Lilly & Co. LLY$1.27 trillion43.9868.5%n/a45.5%1.230.5%
Johnson & Johnson JNJ$665.0 billion41.8619.7%n/a7.8%0.551.9%
AbbVie Inc. ABBV$514.8 billion50.13n/a32.2%10.7%n/a2.4%
Merck & Co., Inc. MRK$361.8 billion151.295.5%n/a4.9%1.202.3%
Novartis AG NVS *$310.3 billion22.7530.3%n/a8.4%0.622.5%
AstraZeneca PLC AZN *$289.1 billion28.5121.0%23.4%8.6%0.571.7%
Abbott Laboratories ABT$190.5 billion41.039.2%13.8%10.0%0.612.3%
Novo Nordisk A/S NVO *$179.9 billion11.7152.8%41.3%6.4%0.674.4%
Pfizer Inc. PFE$167.5 billion41.984.5%n/a1.3%0.705.9%
Vertex Pharmaceuticals Inc. VRTX$138.7 billion35.1919.0%33.2%10.5%0.22n/a
Bristol-Myers Squibb Co. BMY$127.0 billion13.7839.5%22.6%4.2%1.834.1%
Sanofi SNY *$114.7 billion13.2210.9%n/a6.2%0.264.7%
All 175 in Pharmaceutical Products
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Eli Lilly & Co. LLY$1.27 trillion43.9868.5%n/a45.5%1.230.5%
Johnson & Johnson JNJ$665.0 billion41.8619.7%n/a7.8%0.551.9%
AbbVie Inc. ABBV$514.8 billion50.13n/a32.2%10.7%n/a2.4%
Merck & Co., Inc. MRK$361.8 billion151.295.5%n/a4.9%1.202.3%
Novartis AG NVS *$310.3 billion22.7530.3%n/a8.4%0.622.5%
AstraZeneca PLC AZN *$289.1 billion28.5121.0%23.4%8.6%0.571.7%
Amgen Inc. AMGN$249.0 billion26.7065.4%32.4%8.2%3.762.2%
Gilead Sciences, Inc. GILD$207.1 billionn/a-29.6%-7.6%6.5%2.011.9%
Abbott Laboratories ABT$190.5 billion41.039.2%13.8%10.0%0.612.3%
Novo Nordisk A/S NVO *$179.9 billion11.7152.8%41.3%6.4%0.674.4%
Pfizer Inc. PFE$167.5 billion41.984.5%n/a1.3%0.705.9%
Vertex Pharmaceuticals Inc. VRTX$138.7 billion35.1919.0%33.2%10.5%0.22n/a
Bristol-Myers Squibb Co. BMY$127.0 billion13.7839.5%22.6%4.2%1.834.1%
Sanofi SNY *$114.7 billion13.2210.9%n/a6.2%0.264.7%
Moderna, Inc. MRNA$102.7 billionn/a-40.8%-116.0%13.1%0.52n/a
GSK plc GSK *$101.0 billion13.5334.9%24.3%4.1%1.083.4%
Regeneron Pharmaceuticals, Inc. REGN$95.5 billion19.9714.4%28.8%18.6%0.060.4%
Takeda Pharmaceutical Company Limited TAK *$66.4 billionn/a-2.1%0.1%-1.7%0.663.1%
argenx SE ARGX *$57.4 billion47.4317.6%n/a89.9%0.00n/a
IDEXX Laboratories Inc. IDXX$53.3 billion45.5863.2%32.3%11.9%0.45n/a
Teva Pharmaceutical Industries Ltd. TEVA$49.7 billion99.096.4%8.3%2.7%2.10n/a
Royalty Pharma plc RPRX$37.5 billion44.276.9%57.1%11.4%0.881.4%
Biogen Inc. BIIB$36.7 billion106.201.8%4.3%2.3%0.41n/a
Genmab A/S GMAB *$34.5 billion34.8916.5%28.6%19.2%0.90n/a
Zoetis Inc. ZTS$32.4 billion13.5175.3%n/a1.0%2.742.6%
Roivant Sciences Ltd. ROIV$28.1 billionn/a-6.3%-7,914.8%-67.6%0.00n/a
Insmed Inc. INSM$25.1 billionn/a-83.4%-37.1%240.0%0.76n/a
United Therapeutics Corp. UTHR$23.8 billion21.2119.6%41.4%1.9%0.00n/a
Viatris Inc. VTRS$22.8 billionn/a-4.4%-0.0%4.3%0.972.4%
BioNTech SE BNTX *$22.0 billionn/a-5.9%-49.0%4.3%0.01n/a
Alnylam Pharmaceuticals, Inc. ALNY$20.9 billion8.1075.6%19.5%56.2%0.28n/a
Exelixis, Inc. EXEL$17.0 billion20.8348.3%40.2%9.1%0.00n/a
Neurocrine Biosciences Inc. NBIX$16.7 billion24.4318.1%24.0%38.0%0.00n/a
Jazz Pharmaceuticals plc JAZZ$15.1 billion79.824.9%9.0%13.5%1.33n/a
Kiniksa Pharmaceuticals International, plc KNSA$14.7 billion72.1615.4%13.8%58.2%0.00n/a
BridgeBio Pharma, Inc. BBIO$14.6 billionn/an/a-38.5%167.3%n/an/a
Elanco Animal Health Inc. ELAN$12.9 billionn/a-2.2%n/a12.1%0.52n/a
Dr. Reddy’s Laboratories Limited RDY *$12.4 billion27.5111.4%15.0%3.2%0.210.6%
Halozyme Therapeutics, Inc. HALO$11.8 billion26.38n/a37.4%45.0%n/an/a
Bio-Techne Corp. TECH$11.4 billion66.787.9%19.6%0.9%0.090.4%
Kymera Therapeutics, Inc. KYMR$11.2 billionn/a-21.6%-396.0%133.8%0.00n/a
Biomarin Pharmaceutical Inc. BMRN$10.8 billionn/a-0.3%3.1%18.1%0.67n/a
Repligen Corp. RGEN$9.8 billionn/a-0.6%2.3%13.8%0.27n/a
Madrigal Pharmaceuticals, Inc. MDGL$9.3 billionn/a-24.8%-10.7%92.8%0.54n/a
TG Therapeutics, Inc. TGTX$9.2 billion21.8273.1%17.1%76.1%1.23n/a
ImmunityBio, Inc. IBRX$9.1 billionn/an/a-151.9%192.9%n/an/a
Krystal Biotech, Inc. KRYS$8.9 billion40.8215.7%48.4%26.0%0.00n/a
Protagonist Therapeutics, Inc. PTGX$8.6 billion27.9731.5%58.6%163.7%0.00n/a
Arrowhead Pharmaceuticals, Inc. ARWR$8.2 billionn/a-68.7%-33.8%16.8%1.86n/a
Corcept Therapeutics Inc. CORT$8.0 billion57.2419.5%11.5%30.0%0.00n/a
Rhythm Pharmaceuticals, Inc. RYTM$7.8 billionn/a-220.3%-66.7%61.0%1.17n/a
Alkermes plc. ALKS$7.7 billionn/a-0.0%3.7%15.3%0.81n/a
Twist Bioscience Corp. TWST$7.6 billionn/a-30.7%-33.6%19.2%0.03n/a
Cytokinetics Inc. CYTK$7.5 billionn/an/a-625.2%29.9%n/an/a
Axsome Therapeutics, Inc. AXSM$7.0 billionn/a-149.2%-17.5%54.2%1.78n/a
CG Oncology, Inc. CGON$6.8 billionn/a-24.0%-4,293.5%183.6%0.00n/a
Lantheus Holdings, Inc. LNTH$6.6 billion24.7819.9%18.6%2.4%0.42n/a
Ionis Pharmaceuticals Inc. IONS$6.5 billionn/a-128.5%-68.0%-7.4%3.01n/a
Amneal Pharmaceuticals, Inc. AMRX$6.4 billion41.10476.5%14.6%9.3%80.86n/a
Ligand Pharmaceuticals Inc. LGND$6.1 billion136.655.4%9.5%1.0%1.17n/a
Mirum Pharmaceuticals, Inc. MIRM$6.1 billionn/an/a-133.6%42.2%n/an/a
Scholar Rock Holding Corp. SRRK$5.7 billionn/an/an/an/a0.77n/a
PTC Therapeutics, Inc. PTCT$5.5 billionn/an/a12.8%-35.1%n/an/a
Crispr Therapeutics AG CRSP$4.9 billionn/a-27.7%-2,114.8%-34.3%0.36n/a
Gossamer Bio, Inc. GOSS$4.8 billionn/an/a-311.7%32.4%n/an/a
Travere Therapeutics, Inc. TVTX$4.7 billionn/a-538.0%-20.5%49.4%26.72n/a
Adaptive Biotechnologies Corp. ADPT$4.5 billionn/a-40.0%-16.2%17.9%1.90n/a
Relay Therapeutics, Inc. RLAY$4.1 billionn/a-35.9%-3,094.9%23.9%0.00n/a
Liquidia Corp. LQDA$4.0 billion32.3971.0%37.4%2,233.6%n/an/a
Xenon Pharmaceuticals Inc. XENE$3.8 billionn/a-32.9%n/an/a0.00n/a
Iovance Biotherapeutics, Inc. IOVA$3.7 billionn/a-27.1%-60.8%51.3%0.00n/a
Acadia Pharmaceuticals Inc. ACAD$3.7 billion10.0626.1%10.2%14.8%0.00n/a
AbCellera Biologics Inc. ABCL$3.6 billionn/a-18.4%-340.2%101.3%0.00n/a
Organon & Co. OGN$3.6 billion18.2217.9%n/a-3.2%7.170.6%
Tango Therapeutics, Inc. TNGX$3.6 billionn/a-12.1%-253.4%121.5%0.00n/a
Viking Therapeutics, Inc. VKTX$3.4 billionn/a-106.6%n/an/a0.43n/a
Tarsus Pharmaceuticals, Inc. TARS$3.4 billionn/a-675.0%-102.0%86.3%0.700.0%
Supernus, Inc. INDV$3.3 billion7.88n/a40.6%16.4%n/an/a
DBV Technologies S.A. DBVT$3.3 billionn/a-139.5%-5,420.1%-31.5%0.00n/a
Viridian Therapeutics, Inc. VRDN$3.2 billionn/a-78.1%-1,781.4%-62.8%0.63n/a
Arcutis Biotherapeutics, Inc. ARQT$3.2 billion121.6412.3%6.9%60.0%0.45n/a
Denali Therapeutics Inc. DNLI$3.2 billionn/an/an/an/a0.00n/a
Supernus, Inc. SUPN$3.1 billion9.62n/a45.5%16.2%n/an/a
Bausch Health Companies Inc. BHC$3.1 billionn/an/a11.2%10.8%n/an/a
Ideaya Biosciences, Inc. IDYA$3.0 billionn/an/an/an/a0.00n/a
Adma Biologics, Inc. ADMA$2.8 billion16.5241.6%46.5%6.3%0.45n/a
Silence Therapeutics plc SLN$2.8 billionn/a-155.8%-11,106.8%-97.7%0.00n/a
Vericel Corp. VCEL$2.8 billion85.298.7%8.3%25.3%0.00n/a
Xeris Biopharma Holdings, Inc. XERS$2.8 billionn/a-13.3%12.7%38.4%3.89n/a
Beam Therapeutics Inc. BEAM$2.7 billionn/a-11.2%-267.7%163.3%0.11n/a
Xencor Inc. XNCR$2.7 billionn/a-21.0%-72.7%33.5%0.17n/a
Neogen Corp. NEOG$2.6 billionn/a-2.7%-0.8%-0.3%0.37n/a
Celldex Therapeutics, Inc. CLDX$2.3 billionn/a-47.6%-213,033.8%-94.0%0.00n/a
Arcus Biosciences, Inc. RCUS$2.3 billionn/a-126.5%-475.0%-58.3%0.28n/a
NewAmsterdam Pharma Co. N.V. NAMS$2.3 billionn/a-32.5%-900.1%-26.4%0.00n/a
Schrodinger, Inc. SDGR$2.2 billionn/a-19.6%-49.6%4.8%0.00n/a
Septerna, Inc. SEPN$2.2 billionn/a-6.3%-44.0%13,520.1%0.00n/a
Aurinia Pharmaceuticals Inc. AUPH$2.2 billion7.1947.8%48.6%21.0%0.00n/a
Perrigo Co. plc PRGO$2.2 billionn/a-72.5%-39.4%-4.5%1.357.3%
Immunome Inc. IMNM$2.1 billionn/a-48.4%n/an/a0.00n/a
Zymeworks Inc. ZYME$2.1 billionn/a-186.6%-419.0%-69.8%0.00n/a
Vir Biotechnology, Inc. VIR$2.1 billionn/a-20.6%-69.8%1,696.0%0.00n/a
Prestige Consumer Healthcare Inc. PBH$2.0 billion13.268.0%25.0%5.1%1.07n/a
Recursion Pharmaceuticals, Inc. RXRX$2.0 billionn/a-52.5%-725.4%56.2%0.01n/a
Trulieve Cannabis Corp. TRLV$2.0 billionn/a-57.8%-25.6%-9.1%0.37n/a
Biocryst Pharmaceuticals Inc. BCRX$2.0 billionn/an/a-30.1%60.3%n/an/a
Harmony Biosciences Holdings, Inc. HRMY$1.9 billion10.9616.7%22.2%19.8%0.14n/a
Zenas BioPharma, Inc. ZBIO$1.9 billionn/an/an/an/a1.41n/a
Sarepta Therapeutics, Inc. SRPT$1.9 billionn/a-7.5%-2.5%-18.9%0.56n/a
Maze Therapeutics, Inc. MAZE$1.9 billionn/an/an/an/a0.09n/a
Novavax Inc. NVAX$1.8 billionn/an/a-21.2%-61.3%n/an/a
Agios Pharmaceuticals, Inc. AGIO$1.8 billionn/a-38.1%-297.7%214.4%0.00n/a
Stoke Therapeutics, Inc. STOK$1.7 billionn/a-69.0%-913.1%-86.3%0.00n/a
Generate Biomedicines, Inc. GENB$1.7 billionn/an/an/an/a0.00n/a
Nurix Therapeutics, Inc. NRIX$1.7 billion6.6130.5%41.3%738.8%0.000.0%
Eton Pharmaceuticals, Inc. ETON$1.6 billion37.1357.4%28.8%100.6%0.27n/a
Immunocore Holdings plc IMCR$1.6 billionn/a-7.7%-6.8%13.1%0.940.0%
Precigen, Inc. PGEN$1.6 billion128.0629.1%21.4%n/a1.12n/a
Intellia Therapeutics, Inc. NTLA$1.6 billionn/a-69.5%-821.2%-8.1%0.12n/a
Ultragenyx Pharmaceutical Inc. RARE$1.6 billionn/an/a-64.0%15.8%n/an/a
uniQure N.V. QURE$1.5 billionn/a-79.0%-1,001.7%28.0%0.17n/a
ANI Pharmaceuticals Inc. ANIP$1.5 billion13.2818.3%16.0%25.9%0.95n/a
Pacira BioSciences, Inc. PCRX$1.5 billion39.175.3%4.8%3.7%0.41n/a
Ocular Therapeutix, Inc. OCUL$1.4 billionn/a-58.0%-603.0%-8.1%0.14n/a
Nuvation Bio Inc. NUVB$1.4 billionn/a-59.6%-61.2%654.2%1.25n/a
Korsana Biosciences, Inc. KRSA$1.4 billionn/an/an/an/a0.00n/a
Taysha Gene Therapies, Inc. TSHA$1.4 billionn/a-38.6%-2,792.3%-32.3%0.13n/a
Innoviva, Inc. INVA$1.4 billion9.6017.0%38.8%12.8%0.23n/a
Phibro Animal Health Corp. PAHC$1.3 billion13.1824.6%12.5%10.1%1.761.5%
Cronos Group Inc. CRON$1.3 billion21.295.4%3.4%55.8%0.00n/a
Avalyn Pharma Inc. AVLN$1.3 billionn/an/an/an/a0.04n/a
Opko Health, Inc. OPK$1.3 billionn/a-13.3%-25.5%-21.9%0.43n/a
Mannkind Corp. MNKD$1.3 billionn/an/a-2.9%31.7%n/an/a
Inhibrx Biosciences, Inc. INBX$1.2 billionn/an/an/an/an/an/a
Omeros Corp. OMER$1.2 billionn/an/an/an/an/an/a
Amphastar Pharmaceuticals, Inc. AMPH$1.2 billion13.0112.1%18.7%3.1%0.75n/a
UroGen Pharma Ltd. URGN$1.2 billionn/an/a-12.4%159.3%n/an/a
Rapport Therapeutics, Inc. RAPP$1.2 billionn/an/an/an/a0.00n/a
Janux Therapeutics, Inc. JANX$1.1 billionn/a-11.0%-599.3%132.9%0.00n/a
Harrow, Inc. HROW$1.0 billionn/a-244.9%-1.0%21.1%19.24n/a
Cryoport, Inc. CYRX$969 millionn/a-7.8%-20.0%1.1%0.39n/a
Odyssey Therapeutics, Inc. ODTX$921 millionn/an/an/an/a0.00n/a
Monte Rosa Therapeutics, Inc. GLUE$901 millionn/a-26.4%-214.5%-61.3%0.00n/a
Syndax Pharmaceuticals Inc. SNDX$857 millionn/an/a-61.7%159.5%n/an/a
MeiraGTx Holdings plc MGTX$847 million12.6636.6%46.3%948.3%0.46n/a
Aktis Oncology, Inc. AKTS$847 millionn/an/an/an/a0.00n/a
Verastem, Inc. VSTM$794 millionn/an/an/an/a11.82n/a
Lexicon Pharmaceuticals, Inc. LXRX$791 millionn/a-38.1%-147.4%-45.6%0.32n/a
Nektar Therapeutics NKTR$759 millionn/a-17.4%-257.8%-27.2%0.00n/a
Collegium Pharmaceutical, Inc. COLL$752 million24.2012.9%15.2%7.7%3.65n/a
Rigel Pharmaceuticals Inc. RIGL$746 million2.5569.0%26.3%2.2%0.02n/a
QuidelOrtho Corp. QDEL$732 millionn/a-20.6%-4.9%-4.5%1.64n/a
Ironwood Pharmaceuticals Inc. IRWD$728 million4.89n/a62.9%18.1%n/an/a
Ardelyx, Inc. ARDX$722 millionn/a-33.8%-7.7%17.6%1.54n/a
Arbutus Biopharma Corp. ABUS$721 million4.6259.2%82.0%1,078.8%0.00n/a
Ginkgo Bioworks Holdings, Inc. DNA$718 millionn/a-69.2%-259.9%-51.5%0.00n/a
Zevra Therapeutics, Inc. ZVRA$690 million9.6032.7%60.8%75.1%0.00n/a
Wave Life Sciences, Inc. WVE$665 millionn/a-52.4%-320.9%n/a0.00n/a
Design Therapeutics, Inc. DSGN$651 millionn/a-36.6%n/an/a0.00n/a
Kura Oncology, Inc. KURA$645 millionn/a-612.8%-411.9%n/a0.20n/a
Geron Corp. GERN$636 millionn/an/an/an/a0.53n/a
Aclaris Therapeutics, Inc. ACRS$588 millionn/a-47.7%-1,414.0%-59.3%0.00n/a
Myriad Genetics Inc. MYGN$565 millionn/a-48.0%-14.3%-2.6%0.45n/a
Gyre Therapeutics, Inc. GYRE$510 millionn/a-37.5%-20.6%13.5%0.00n/a
Monopar Therapeutics MNPR$479 millionn/an/an/an/a0.00n/a
CytomX Therapeutics, Inc. CTMX$476 millionn/a-30.0%-676.5%-87.7%0.00n/a
Aquestive Therapeutics, Inc. AQST$454 millionn/an/a-114.1%12.5%n/an/a
Evolus, Inc. EOLS$450 millionn/an/a-4.8%13.9%n/an/a
Phathom Pharmaceuticals, Inc. PHAT$425 millionn/an/a-9.3%86.8%n/an/a
Puma Biotechnology, Inc. PBYI$421 million15.8519.3%13.2%-2.9%0.00n/a
Arvinas, Inc. ARVN$419 millionn/a-1.8%-12.1%-11.8%0.00n/a
CorMedix Inc. CRMD$412 million2.4840.6%47.0%n/a0.00n/a
Crescent Biopharma, Inc. CBIO$374 millionn/an/an/an/a0.00n/a
Canopy Growth Corp. CGC$276 millionn/an/a-54.2%10.7%0.38n/a
Atrium Therapeutics, Inc. RNA$143 millionn/an/an/an/an/an/a
125 companies share its SEC industry code (Pharmaceutical Preparations); the rest are the names nearest in size in its wider industry, Pharmaceutical Products, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on ZTS

Dividends$2.03 a share in FY2025
Filings22 in twelve months: 13 current reports (8-K), about 6 regulation FD disclosure; 4 results of operations; 3 officer or director change; 1 shareholder vote; 1 material agreement
Planned insider sales3 Form 144 notices in twelve months, $3.3 million; latest 17 February 2026
Options tapeput/call 1.04 by open interest at the 6 November 2026 close; the straddle prices a 6.0% move to 20 November 2026
13F holders1,440 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading2 sales and 3 purchases on Form 4 in twelve months
Congress4 House trades disclosed in six months
Short interest17.5 million shares short, 4.06 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 20265 November 2026EDGAR
10-Q30 June 20266 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K31 December 202512 February 2026EDGAR
10-Q30 September 20254 November 2025EDGAR
10-Q30 June 20255 August 2025EDGAR
10-Q31 March 20256 May 2025EDGAR
10-K31 December 202413 February 2025EDGAR
10-Q30 September 20244 November 2024EDGAR
10-Q30 June 20246 August 2024EDGAR

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