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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash-to-Debt 0.35
NYSE:ZTS's Cash-to-Debt is ranked lower than
90% of the 827 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 2.89 vs. NYSE:ZTS: 0.35 )
Ranked among companies with meaningful Cash-to-Debt only.
NYSE:ZTS' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.1  Med: 0.16 Max: 0.55
Current: 0.35
0.1
0.55
Equity-to-Asset 0.21
NYSE:ZTS's Equity-to-Asset is ranked lower than
93% of the 766 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 0.64 vs. NYSE:ZTS: 0.21 )
Ranked among companies with meaningful Equity-to-Asset only.
NYSE:ZTS' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.12  Med: 0.2 Max: 0.69
Current: 0.21
0.12
0.69
Debt-to-Equity 2.87
NYSE:ZTS's Debt-to-Equity is ranked lower than
96% of the 535 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 0.30 vs. NYSE:ZTS: 2.87 )
Ranked among companies with meaningful Debt-to-Equity only.
NYSE:ZTS' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.14  Med: 2.88 Max: 5.14
Current: 2.87
0.14
5.14
Debt-to-EBITDA 3.29
NYSE:ZTS's Debt-to-EBITDA is ranked lower than
66% of the 503 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 1.74 vs. NYSE:ZTS: 3.29 )
Ranked among companies with meaningful Debt-to-EBITDA only.
NYSE:ZTS' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.62  Med: 2.96 Max: 5.61
Current: 3.29
0.62
5.61
Interest Coverage 9.25
NYSE:ZTS's Interest Coverage is ranked lower than
74% of the 641 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 106.84 vs. NYSE:ZTS: 9.25 )
Ranked among companies with meaningful Interest Coverage only.
NYSE:ZTS' s Interest Coverage Range Over the Past 10 Years
Min: 2.3  Med: 8.42 Max: 22.42
Current: 9.25
2.3
22.42
Piotroski F-Score: 5
Altman Z-Score: 4.65
Beneish M-Score: -2.46
WACC vs ROIC
9.02%
19.67%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating Margin % 29.96
NYSE:ZTS's Operating Margin % is ranked higher than
92% of the 781 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 7.94 vs. NYSE:ZTS: 29.96 )
Ranked among companies with meaningful Operating Margin % only.
NYSE:ZTS' s Operating Margin % Range Over the Past 10 Years
Min: -4.53  Med: 16.72 Max: 29.96
Current: 29.96
-4.53
29.96
Net Margin % 18.29
NYSE:ZTS's Net Margin % is ranked higher than
82% of the 780 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 6.12 vs. NYSE:ZTS: 18.29 )
Ranked among companies with meaningful Net Margin % only.
NYSE:ZTS' s Net Margin % Range Over the Past 10 Years
Min: -3.62  Med: 8.59 Max: 18.29
Current: 18.29
-3.62
18.29
ROE % 55.87
NYSE:ZTS's ROE % is ranked higher than
98% of the 803 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 7.08 vs. NYSE:ZTS: 55.87 )
Ranked among companies with meaningful ROE % only.
NYSE:ZTS' s ROE % Range Over the Past 10 Years
Min: 11.26  Med: 24.4 Max: 64.27
Current: 55.87
11.26
64.27
ROA % 11.68
NYSE:ZTS's ROA % is ranked higher than
81% of the 831 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 3.77 vs. NYSE:ZTS: 11.68 )
Ranked among companies with meaningful ROA % only.
NYSE:ZTS' s ROA % Range Over the Past 10 Years
Min: 4.68  Med: 8.22 Max: 11.68
Current: 11.68
4.68
11.68
ROC (Joel Greenblatt) % 47.43
NYSE:ZTS's ROC (Joel Greenblatt) % is ranked higher than
85% of the 817 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 13.08 vs. NYSE:ZTS: 47.43 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
NYSE:ZTS' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 24.65  Med: 32.08 Max: 50.38
Current: 47.43
24.65
50.38
3-Year Revenue Growth Rate 2.50
NYSE:ZTS's 3-Year Revenue Growth Rate is ranked lower than
61% of the 674 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 5.40 vs. NYSE:ZTS: 2.50 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
NYSE:ZTS' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 0  Med: 3.1 Max: 8.4
Current: 2.5
0
8.4
3-Year EBITDA Growth Rate 17.50
NYSE:ZTS's 3-Year EBITDA Growth Rate is ranked higher than
65% of the 656 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 9.20 vs. NYSE:ZTS: 17.50 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
NYSE:ZTS' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 0  Med: 17.5 Max: 36.2
Current: 17.5
0
36.2
3-Year EPS without NRI Growth Rate 17.80
NYSE:ZTS's 3-Year EPS without NRI Growth Rate is ranked higher than
67% of the 632 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 7.50 vs. NYSE:ZTS: 17.80 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
NYSE:ZTS' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: 0  Med: 17.8 Max: 66.2
Current: 17.8
0
66.2
GuruFocus has detected 5 Warning Signs with Zoetis Inc NYSE:ZTS.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» NYSE:ZTS's 30-Y Financials

Financials (Next Earnings Date: 2018-02-16)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q4 2016

ZTS Guru Trades in Q4 2016

Manning & Napier Advisors, Inc 290,660 sh (New)
First Eagle Investment 4,390,047 sh (+12.77%)
Eaton Vance Worldwide Health Sciences Fund 828,810 sh (+160.74%)
Robert Olstein 66,000 sh (unchged)
Bill Ackman Sold Out
Stanley Druckenmiller Sold Out
George Soros 808,419 sh (-2.79%)
Mario Gabelli 542,583 sh (-3.24%)
Keeley Asset Management Corp 58,525 sh (-11.83%)
Paul Tudor Jones 12,300 sh (-18.00%)
Jim Simons 860,000 sh (-22.39%)
Pioneer Investments 1,583,638 sh (-45.74%)
Steven Cohen 1,026,093 sh (-77.91%)
» More
Q1 2017

ZTS Guru Trades in Q1 2017

Joel Greenblatt 68,985 sh (New)
Caxton Associates 9,900 sh (New)
Frank Sands 23,659 sh (New)
MS Global Franchise Fund 417,643 sh (New)
Paul Tudor Jones 24,964 sh (+102.96%)
Jim Simons 1,131,700 sh (+31.59%)
George Soros 808,419 sh (unchged)
Eaton Vance Worldwide Health Sciences Fund 828,810 sh (unchged)
First Eagle Investment 4,330,768 sh (-1.35%)
Mario Gabelli 520,995 sh (-3.98%)
Pioneer Investments 1,510,972 sh (-4.59%)
Robert Olstein 44,000 sh (-33.33%)
Manning & Napier Advisors, Inc 177,185 sh (-39.04%)
Steven Cohen 373,300 sh (-63.62%)
» More
Q2 2017

ZTS Guru Trades in Q2 2017

Paul Tudor Jones 43,736 sh (+75.20%)
Jim Simons 1,711,100 sh (+51.20%)
Steven Cohen 472,100 sh (+26.47%)
MS Global Franchise Fund 479,505 sh (+14.81%)
Mario Gabelli 533,531 sh (+2.41%)
Robert Olstein 44,000 sh (unchged)
Manning & Napier Advisors, Inc Sold Out
Caxton Associates Sold Out
Frank Sands 23,184 sh (-2.01%)
Pioneer Investments 1,416,657 sh (-6.24%)
George Soros 701,969 sh (-13.17%)
First Eagle Investment 3,339,926 sh (-22.88%)
Joel Greenblatt 4,769 sh (-93.09%)
Eaton Vance Worldwide Health Sciences Fund 644,919 sh (-22.19%)
» More
Q3 2017

ZTS Guru Trades in Q3 2017

Caxton Associates 3,900 sh (New)
Steven Cohen 720,600 sh (+52.64%)
Frank Sands 23,959 sh (+3.34%)
Robert Olstein 44,000 sh (unchged)
First Eagle Investment Sold Out
George Soros 686,789 sh (-2.16%)
Mario Gabelli 510,718 sh (-4.28%)
Joel Greenblatt 3,988 sh (-16.38%)
Pioneer Investments 1,181,055 sh (-16.63%)
Jim Simons 902,600 sh (-47.25%)
Paul Tudor Jones 17,010 sh (-61.11%)
Eaton Vance Worldwide Health Sciences Fund 499,092 sh (-22.61%)
» More
» Details

Insider Trades

Latest Guru Trades with ZTS

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
George Soros 2017-09-30 Reduce -2.16%0.02%$59.73 - $65.4 $ 70.7913%686,789
Mario Gabelli 2017-09-30 Reduce -4.28%0.01%$59.73 - $65.4 $ 70.7913%510,718
Joel Greenblatt 2017-09-30 Reduce -16.38%$59.73 - $65.4 $ 70.7913%3,988
First Eagle Investment 2017-09-30 Sold Out 0.5%$59.73 - $65.4 $ 70.7913%0
First Eagle Investment 2017-06-30 Reduce -22.88%0.13%$52.54 - $63.51 $ 70.7920%3,339,926
George Soros 2017-06-30 Reduce -13.17%0.16%$52.54 - $63.51 $ 70.7920%701,969
Mario Gabelli 2017-06-30 Add 2.41%$52.54 - $63.51 $ 70.7920%533,531
Joel Greenblatt 2017-06-30 Reduce -93.09%0.05%$52.54 - $63.51 $ 70.7920%4,769
First Eagle Investment 2017-03-31 Reduce -1.35%0.01%$52.51 - $55.98 $ 70.7931%4,330,768
Mario Gabelli 2017-03-31 Reduce -3.98%0.01%$52.51 - $55.98 $ 70.7931%520,995
Joel Greenblatt 2017-03-31 New Buy0.05%$52.51 - $55.98 $ 70.7931%68,985
Robert Olstein 2017-03-31 Reduce -33.33%0.15%$52.51 - $55.98 $ 70.7931%44,000
First Eagle Investment 2016-12-31 Add 12.77%0.07%$47.25 - $53.78 $ 70.7939%4,390,047
George Soros 2016-12-31 Reduce -2.79%0.04%$47.25 - $53.78 $ 70.7939%808,419
Mario Gabelli 2016-12-31 Reduce -3.24%0.01%$47.25 - $53.78 $ 70.7939%542,583
Keeley Asset Management Corp 2016-12-31 Reduce -11.83%0.02%$47.25 - $53.78 $ 70.7939%58,525
Bill Ackman 2016-12-31 Sold Out 2.61%$47.25 - $53.78 $ 70.7939%0
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Business Description

Industry: Drug Manufacturers » Drug Manufacturers - Specialty & Generic    NAICS: 325412    SIC: 2834
Compare:SHSE:600276, IST:DEVA, NAS:MYL, NSE:SUNPHARMA, TSE:4502, TSE:4507, SZSE:000538, TSE:4523, SHSE:600518, XTER:MRK, SHSE:600196, NYSE:TEVA, TSE:4508, OCSE:LUN, NYSE:PRGO, JSE:APN, XPAR:IPN, XSWX:VIFN, SZSE:000963, BOM:532321 » details
Traded in other countries:ZOE.Germany,
Headquarter Location:USA
Zoetis Inc is a developer and manufacturer of drugs providing medicines for animal health, and vaccines for livestock and companion animals. Its products are anti-infectives, vaccines, parasiticides, medicated feed additives and other related products.

Zoetis sells anti-infectives, vaccines, parasiticides, diagnostics, and other health products for animals. The firm earns the majority of its revenue from production animals (cattle, pigs, poultry, and so on) but also sells companion animal (dogs, horses, cats) products. The firm has the largest market share in the industry and was previously Pfizer's animal health unit.

Guru Investment Theses on Zoetis Inc

Keeley Funds Comments on Zoetis - Aug 14, 2017

Zoetis (NYSE:ZTS) is an animal health company that was a spin off from Pfizer. The company reported very strong quarterly earnings and raised guidance for the full year. Early in the quarter, the company announced the acquisition of Nextvet, which strengthens their pipeline by adding an injectable pain platform to further diversify their animal health portfolio. Zoetis remains well positioned to continue to increase share in the livestock and companion animal markets while being insulated from the drug pricing and healthcare reform issues pressuring the human pharmaceutical companies.



From Keeley All Cap Value Fund second quarter 2017 shareholder commentary.



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Keeley Funds Comments on Zoetis - Aug 14, 2017

Zoetis (NYSE:ZTS) is an animal health company that was a spin off from Pfizer. The company reported very strong quarterly earnings and raised guidance for the full year. Early in the quarter, the company announced the acquisition of Nextvet, which strengthens their pipeline by adding an injectable pain platform to further diversify their animal health portfolio. Zoetis remains well positioned to continue to increase share in the livestock and companion animal markets while being insulated from the drug pricing and healthcare reform issues pressuring the human pharmaceutical companies.



From Keeley All Cap Value Fund second quarter 2017 shareholder commentary.



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Bill Ackman Comments on Zoetis - May 08, 2017

On November 9, 2016, we sold our last shares of Zoetis (NYSE:ZTS), about two years after we publicly announced an 8.5% ownership stake. Despite the high quality nature of the business and its strong management team, we sold to redeploy the capital in certain new investments.

We purchased our stake in Zoetis at an average cost of approximately $37 per share. Shortly thereafter, we met with the Zoetis management to discuss our views on potential initiatives to create shareholder value. On February 4, 2015, Zoetis agreed to add then-Pershing Square investment team member (and healthcare industry veteran) Bill Doyle and Actavis Executive Chairman Paul Bisaro to the board on April 13, 2015.

Over the course of our ownership, ZTS developed and implemented a number of value-enhancing initiatives including restructuring its supply chain, pursuing organic revenue growth opportunities while reducing costs, and setting a goal of increasing operating margins from ~25% in 2014 to ~34% by 2017. Zoetis outperformed each of these objectives during our ownership.

During our more than two-year ownership, Zoetis generated a total shareholder return, including dividends, of 57.9%.

From 2016 annual letter to shareholders of Pershing Square by Bill Ackman (Trades, Portfolio).

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Bill Ackman Comments on Zoetis - Mar 30, 2017



On November 9, 2016, we sold our last shares of Zoetis (NYSE:ZTS), about two years after we publicly announced an 8.5% ownership stake. Despite the high quality nature of the business and its strong management team, we sold to redeploy the capital in certain new investments.

We purchased our stake in Zoetis at an average cost of approximately $37 per share. Shortly thereafter, we met with the Zoetis management to discuss our views on potential initiatives to create shareholder value. On February 4, 2015, Zoetis agreed to add then-Pershing Square investment team member (and healthcare industry veteran) Bill Doyle and Actavis Executive Chairman Paul Bisaro to the board on April 13, 2015.

Over the course of our ownership, ZTS developed and implemented a number of value-enhancing initiatives including restructuring its supply chain, pursuing organic revenue growth opportunities while reducing costs, and setting a goal of increasing operating margins from ~25% in 2014 to ~34% by 2017. Zoetis outperformed each of these objectives during our ownership.

During our more than two-year ownership, Zoetis generated a total shareholder return, including dividends, of 57.9%.

From Bill Ackman (Trades, Portfolio)'s Pershing Square 2016 annual report.


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Bill Ackman Comments on Zoetis - Dec 09, 2016

On November 9th we sold our last shares of Zoetis (NYSE:ZTS), about two years after we publicly announced an 8.5% ownership stake. Despite the high quality nature of the business and its strong management team, we sold to redeploy the capital in certain new investments.

We purchased our stake in Zoetis at an average cost of approximately $37 per share. Shortly thereafter, we met with the Zoetis management to learn more about the company and to discuss our views on potential initiatives to create shareholder value. On February 4, 2015, Zoetis agreed to add then-Pershing Square investment team member (and healthcare industry veteran) Bill Doyle and Actavis Executive Chairman Paul Bisaro to the board on April 13, 2015.

Over the course of our ownership, ZTS developed and implemented a number of value-enhancing initiatives including restructuring its supply chain, pursuing organic revenue growth opportunities while reducing costs, and setting a goal of increasing operating margins from ~25% in 2014 to ~34% by 2017. Zoetis outperformed each of these objectives during our ownership.

We sold our remaining shares of Zoetis on November 9th. During our more than two-year ownership, Zoetis generated a total shareholder return of 58%.

From Bill Ackman (Trades, Portfolio)'s Pershing Square third-quarter shareholder letter.

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Bill Ackman Comments on Zoetis Inc. - Aug 29, 2016

There is still a lot more work to do, but we are pleased with the company's progress over the last several months. Zoetis Inc. (NYSE:ZTS) Zoetis delivered another exceptional quarter of performance. Organic revenue growth was +4%, driven by +13% growth in Zoetis' companion animal segment. Excluding the revenue impact of the company's operational efficiency initiatives, organic revenue growth was 9%. Management's execution of its operational efficiency initiative continues to be excellent. SG&A as a percentage of sales fell by 180bps in the quarter, year-over-year and gross margins expanded 240bps. While we have sold a substantial portion of our investment to raise capital for new investments, we continue to believe that Zoetis' history of strong organic growth and margin expansion will continue.

From Bill Ackman (Trades, Portfolio)'s mid-year 2016 letter.

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Bill Ackman Comments on Zoetis Inc. - May 11, 2016

Zoetis (NYSE:ZTS) is the only large, independent, publicly traded animal health company in the world. The company has a market capitalization of ~$23 billion and $5 billion in revenue. The Pershing Square funds currently own a 5.0% economic stake in the company, down from 8.6% as a result of a recent block sale.

During the first quarter, adjusted revenue grew 6%. The Companion Animal segment was the star of the quarter, with growth of 20% driven by new product launches. Livestock revenue growth was nominal at 1% due to competition in U.S. swine products and mild U.S. weather.

Gross margins and SG&A spending were both better than expectations. Management continues to execute well on the cost efficiency program announced in May 2015. SG&A fell by 6% YoY, despite six extra days in the quarter. Operating margins expanded ~500 bps from the prior year. Management now believes savings from the efficiency program will exceed the original $300 million targeted when the program was announced last May. All savings from this program are expected to be realized by 2017.

Good performance and favourable FX allowed management to increase earnings guidance by $0.10/share in 2016 and $0.06/share in 2017.

We executed a block sale of 16.85 million shares on May 9th, reducing our ownership of the company from 8.6% to 5.0%. We continue to be pleased with management’s performance and have high expectations for the company. As with CP and Mondelez, we reduced our position for portfolio management reasons.

Bill Doyle, who has represented Pershing Square on the ZTS board since February 4, 2015, will not stand for re-election at the annual meeting on May 12th. We no longer feel that our presence on the board is required as the company continues to generate strong progress as evidenced by first quarter results.

From Bill Ackman (Trades, Portfolio)'s first quarter shareholder letter.

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Bill Ackman Comments on Zoetis Inc. - Dec 16, 2015

Zoetis, Inc. (NYSE:ZTS)

On November 3rd, Zoetis reported another strong quarter. Operational revenue grew 9% and operational adjusted net income grew 31%, excluding the impact of foreign exchange. Growth was driven by strong performance in the U.S. livestock business, the integration of the Abbott Animal Health business that was acquired in the first quarter of 2015, and growth in recently launched products in the companion animal sector. Reported revenue of $1.2 billion was flat year-on-year, while reported EPS of $0.38 represented a 15% increase over third quarter 2014 reported EPS.

Adjusted diluted net income per share, which excludes purchase accounting adjustments and certain one-time costs, was $0.50. This is an increase of 22% compared to third quarter 2014, and significantly in excess of the Wall Street consensus adjusted EPS estimate of $0.40 per share.

Management continues to demonstrate its expense discipline. Operating expenses grew 3% while operational revenue grew 9% excluding the impact of foreign exchange. Management reaffirmed its commitment to meet or exceed the previously announced $300 million expense reduction target by 2017.

During the quarter, the company announced the $765 million acquisition of PHARMAQ, the global leader in vaccines for aquaculture, or farmed fish. Aquaculture is the fastest growing segment of the global animal health industry and is the only segment in which Zoetis had limited presence. The PHARMAQ acquisition provides a market-leading portfolio of vaccines and pharmaceuticals for farmed fish as well as a late-stage development pipeline anticipated to deliver important new vaccines and next-generation parasiticides in the near term. PHARMAQ is a good strategic fit with Zoetis, and provides another pillar for long-term growth. The company believes this acquisition will enjoy a long period of sustainable growth in revenue, profits, and cash flow when added into its business.

From Bill Ackman (Trades, Portfolio)'s Pershing Square Holdings third quarter 2015 letter to shareholders.

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Top Ranked Articles about Zoetis Inc

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First Eagle Trims American Express, Time Warner, PepsiCo Fund's largest 3rd-quarter transactions
First Eagle Investment (Trades, Portfolio) manages about $110 billion in assets for institutional and individual clients; during the third quarter the fund sold shares in the following stocks: Read more...
Keeley Funds Comments on Zoetis Guru stock highlight
Zoetis (NYSE:ZTS) is an animal health company that was a spin off from Pfizer. The company reported very strong quarterly earnings and raised guidance for the full year. Early in the quarter, the company announced the acquisition of Nextvet, which strengthens their pipeline by adding an injectable pain platform to further diversify their animal health portfolio. Zoetis remains well positioned to continue to increase share in the livestock and companion animal markets while being insulated from the drug pricing and healthcare reform issues pressuring the human pharmaceutical companies. Read more...
Keeley Funds Comments on Zoetis Guru stock highlight
Zoetis (NYSE:ZTS) is an animal health company that was a spin off from Pfizer. The company reported very strong quarterly earnings and raised guidance for the full year. Early in the quarter, the company announced the acquisition of Nextvet, which strengthens their pipeline by adding an injectable pain platform to further diversify their animal health portfolio. Zoetis remains well positioned to continue to increase share in the livestock and companion animal markets while being insulated from the drug pricing and healthcare reform issues pressuring the human pharmaceutical companies. Read more...
Bill Ackman Comments on Zoetis Guru stock highlight
On November 9, 2016, we sold our last shares of Zoetis (NYSE:ZTS), about two years after we publicly announced an 8.5% ownership stake. Despite the high quality nature of the business and its strong management team, we sold to redeploy the capital in certain new investments. Read more...
Bill Ackman Comments on Zoetis Guru stock highlight
On November 9, 2016, we sold our last shares of Zoetis (NYSE:ZTS), about two years after we publicly announced an 8.5% ownership stake. Despite the high quality nature of the business and its strong management team, we sold to redeploy the capital in certain new investments.

We purchased our stake in Zoetis at an average cost of approximately $37 per share. Shortly thereafter, we met with the Zoetis management to discuss our views on potential initiatives to create shareholder value. On February 4, 2015, Zoetis agreed to add then-Pershing Square investment team member (and healthcare industry veteran) Bill Doyle and Actavis Executive Chairman Paul Bisaro to the board on April 13, 2015.

Over the course of our ownership, ZTS developed and implemented a number of value-enhancing initiatives including restructuring its supply chain, pursuing organic revenue growth opportunities while reducing costs, and setting a goal of increasing operating margins from ~25% in 2014 to ~34% by 2017. Zoetis outperformed each of these objectives during our ownership.

During our more than two-year ownership, Zoetis generated a total shareholder return, including dividends, of 57.9%.

From Bill Ackman (Trades, Portfolio)'s Pershing Square 2016 annual report. Read more...
Bill Ackman Expands Chipotle Position, Cuts Zoetis Activist investor trims 3 positions in 4th quarter
Activist investor Bill Ackman (Trades, Portfolio), founder of Pershing Square Capital Management, buys the common stock of companies and pushes for changes so that the market can realize the values of these companies. Like fellow activist investor Carl Icahn (Trades, Portfolio), Ackman buys out-of-favor companies at a discount and sells them when the companies reach their appraised value. Read more...
Manning & Napier’s Top 3 New Holdings Firm invested in wide array of industries in the 4th quarter
Manning & Napier Advisors Inc. acquired 35 new holdings during the final quarter of 2016. The firm’s top three new holdings are Bristol-Myers Squibb Co. (NYSE:BMY), Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) and Campbell Soup Co. (NYSE:CPB). Read more...
Bill Ackman Comments on Zoetis Guru stock highlight
On November 9th we sold our last shares of Zoetis (NYSE:ZTS), about two years after we publicly announced an 8.5% ownership stake. Despite the high quality nature of the business and its strong management team, we sold to redeploy the capital in certain new investments. Read more...

Ratios

vs
industry
vs
history
PE Ratio 37.26
ZTS's PE Ratio is ranked lower than
68% of the 570 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 25.41 vs. ZTS: 37.26 )
Ranked among companies with meaningful PE Ratio only.
ZTS' s PE Ratio Range Over the Past 10 Years
Min: 27.31  Med: 36.34 Max: 69.75
Current: 37.26
27.31
69.75
Forward PE Ratio 25.77
ZTS's Forward PE Ratio is ranked lower than
62% of the 74 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 19.53 vs. ZTS: 25.77 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 37.26
ZTS's PE Ratio without NRI is ranked lower than
67% of the 566 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 25.56 vs. ZTS: 37.26 )
Ranked among companies with meaningful PE Ratio without NRI only.
ZTS' s PE Ratio without NRI Range Over the Past 10 Years
Min: 27.31  Med: 36.34 Max: 69.75
Current: 37.26
27.31
69.75
Price-to-Owner-Earnings 49.92
ZTS's Price-to-Owner-Earnings is ranked lower than
74% of the 310 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 33.43 vs. ZTS: 49.92 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
ZTS' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 44.34  Med: 63.45 Max: 337.18
Current: 49.92
44.34
337.18
PB Ratio 17.41
ZTS's PB Ratio is ranked lower than
95% of the 798 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 2.86 vs. ZTS: 17.41 )
Ranked among companies with meaningful PB Ratio only.
ZTS' s PB Ratio Range Over the Past 10 Years
Min: 12.62  Med: 17.81 Max: 24.4
Current: 17.41
12.62
24.4
PS Ratio 6.83
ZTS's PS Ratio is ranked lower than
72% of the 756 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 2.79 vs. ZTS: 6.83 )
Ranked among companies with meaningful PS Ratio only.
ZTS' s PS Ratio Range Over the Past 10 Years
Min: 3.11  Med: 4.7 Max: 6.83
Current: 6.83
3.11
6.83
Price-to-Free-Cash-Flow 42.52
ZTS's Price-to-Free-Cash-Flow is ranked lower than
76% of the 212 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 25.72 vs. ZTS: 42.52 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
ZTS' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 25.69  Med: 48.88 Max: 90.56
Current: 42.52
25.69
90.56
Price-to-Operating-Cash-Flow 34.17
ZTS's Price-to-Operating-Cash-Flow is ranked lower than
83% of the 290 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 17.64 vs. ZTS: 34.17 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
ZTS' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 21.62  Med: 34.15 Max: 41.95
Current: 34.17
21.62
41.95
EV-to-EBIT 25.63
ZTS's EV-to-EBIT is ranked lower than
64% of the 572 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 19.28 vs. ZTS: 25.63 )
Ranked among companies with meaningful EV-to-EBIT only.
ZTS' s EV-to-EBIT Range Over the Past 10 Years
Min: 20.2  Med: 25.2 Max: 41.6
Current: 25.63
20.2
41.6
EV-to-EBITDA 22.06
ZTS's EV-to-EBITDA is ranked lower than
65% of the 596 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 16.61 vs. ZTS: 22.06 )
Ranked among companies with meaningful EV-to-EBITDA only.
ZTS' s EV-to-EBITDA Range Over the Past 10 Years
Min: 16.7  Med: 20.5 Max: 32.1
Current: 22.06
16.7
32.1
EV-to-Revenue 7.46
ZTS's EV-to-Revenue is ranked lower than
73% of the 775 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 3.07 vs. ZTS: 7.46 )
Ranked among companies with meaningful EV-to-Revenue only.
ZTS' s EV-to-Revenue Range Over the Past 10 Years
Min: 3.8  Med: 5.3 Max: 7.5
Current: 7.46
3.8
7.5
PEG Ratio 2.89
ZTS's PEG Ratio is ranked lower than
65% of the 317 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 1.89 vs. ZTS: 2.89 )
Ranked among companies with meaningful PEG Ratio only.
ZTS' s PEG Ratio Range Over the Past 10 Years
Min: 2.52  Med: 3.1 Max: 3.46
Current: 2.89
2.52
3.46
Current Ratio 2.80
ZTS's Current Ratio is ranked lower than
59% of the 738 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 2.53 vs. ZTS: 2.80 )
Ranked among companies with meaningful Current Ratio only.
ZTS' s Current Ratio Range Over the Past 10 Years
Min: 1.96  Med: 2.77 Max: 3.47
Current: 2.8
1.96
3.47
Quick Ratio 1.95
ZTS's Quick Ratio is ranked lower than
70% of the 736 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 1.94 vs. ZTS: 1.95 )
Ranked among companies with meaningful Quick Ratio only.
ZTS' s Quick Ratio Range Over the Past 10 Years
Min: 1.07  Med: 1.54 Max: 2
Current: 1.95
1.07
2
Days Inventory 310.15
ZTS's Days Inventory is ranked lower than
94% of the 729 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 120.98 vs. ZTS: 310.15 )
Ranked among companies with meaningful Days Inventory only.
ZTS' s Days Inventory Range Over the Past 10 Years
Min: 117.43  Med: 284.81 Max: 325.24
Current: 310.15
117.43
325.24
Days Sales Outstanding 71.87
ZTS's Days Sales Outstanding is ranked higher than
53% of the 682 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 73.92 vs. ZTS: 71.87 )
Ranked among companies with meaningful Days Sales Outstanding only.
ZTS' s Days Sales Outstanding Range Over the Past 10 Years
Min: 68.18  Med: 74.93 Max: 91.07
Current: 71.87
68.18
91.07
Days Payable 43.53
ZTS's Days Payable is ranked lower than
75% of the 619 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 68.69 vs. ZTS: 43.53 )
Ranked among companies with meaningful Days Payable only.
ZTS' s Days Payable Range Over the Past 10 Years
Min: 43.53  Med: 61.59 Max: 110.66
Current: 43.53
43.53
110.66

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 0.59
ZTS's Dividend Yield % is ranked lower than
83% of the 710 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 1.58 vs. ZTS: 0.59 )
Ranked among companies with meaningful Dividend Yield % only.
ZTS' s Dividend Yield % Range Over the Past 10 Years
Min: 0.21  Med: 0.7 Max: 1.08
Current: 0.59
0.21
1.08
Dividend Payout Ratio 0.22
ZTS's Dividend Payout Ratio is ranked higher than
78% of the 416 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 9999.00 vs. ZTS: 0.22 )
Ranked among companies with meaningful Dividend Payout Ratio only.
ZTS' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.19  Med: 0.24 Max: 0.49
Current: 0.22
0.19
0.49
3-Year Dividend Growth Rate 24.90
ZTS's 3-Year Dividend Growth Rate is ranked higher than
80% of the 303 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 6.70 vs. ZTS: 24.90 )
Ranked among companies with meaningful 3-Year Dividend Growth Rate only.
ZTS' s 3-Year Dividend Growth Rate Range Over the Past 10 Years
Min: 0  Med: 0 Max: 24.9
Current: 24.9
0
24.9
Forward Dividend Yield % 0.59
ZTS's Forward Dividend Yield % is ranked lower than
83% of the 679 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 1.05 vs. ZTS: 0.59 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 0.60
ZTS's 5-Year Yield-on-Cost % is ranked lower than
84% of the 849 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 1.98 vs. ZTS: 0.60 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
ZTS' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 0.21  Med: 0.7 Max: 1.08
Current: 0.6
0.21
1.08
3-Year Average Share Buyback Ratio 0.50
ZTS's 3-Year Average Share Buyback Ratio is ranked higher than
89% of the 522 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: -4.80 vs. ZTS: 0.50 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
ZTS' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -0.1  Med: 0 Max: 0
Current: 0.5
-0.1
0

Valuation & Return

vs
industry
vs
history
Price-to-Intrinsic-Value-Projected-FCF 4.94
ZTS's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
70% of the 306 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 2.32 vs. ZTS: 4.94 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
ZTS' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 4.39  Med: 4.78 Max: 5.46
Current: 4.94
4.39
5.46
Price-to-Median-PS-Value 1.45
ZTS's Price-to-Median-PS-Value is ranked lower than
73% of the 676 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 1.04 vs. ZTS: 1.45 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
ZTS' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.67  Med: 0.98 Max: 1.45
Current: 1.45
0.67
1.45
Price-to-Peter-Lynch-Fair-Value 3.01
ZTS's Price-to-Peter-Lynch-Fair-Value is ranked lower than
83% of the 183 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 1.58 vs. ZTS: 3.01 )
Ranked among companies with meaningful Price-to-Peter-Lynch-Fair-Value only.
ZTS' s Price-to-Peter-Lynch-Fair-Value Range Over the Past 10 Years
Min: 2.58  Med: 3.05 Max: 3.46
Current: 3.01
2.58
3.46
Earnings Yield (Greenblatt) % 3.90
ZTS's Earnings Yield (Greenblatt) % is ranked higher than
56% of the 834 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 3.23 vs. ZTS: 3.90 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
ZTS' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 2.4  Med: 4 Max: 5
Current: 3.9
2.4
5
Forward Rate of Return (Yacktman) % 13.88
ZTS's Forward Rate of Return (Yacktman) % is ranked higher than
56% of the 397 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 10.07 vs. ZTS: 13.88 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
ZTS' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 11.8  Med: 12.5 Max: 16
Current: 13.88
11.8
16

More Statistics

Revenue (TTM) (Mil) $5,124.00
EPS (TTM) $ 1.90
Beta1.26
Short Percentage of Float1.62%
52-Week Range $48.55 - 71.12
Shares Outstanding (Mil)487.29

Analyst Estimate

Dec17 Dec18 Dec19 Dec20
Revenue (Mil $) 5,255 5,606 5,868 6,152
EPS ($) 2.35 2.78 3.11 3.43
EPS without NRI ($) 2.35 2.78 3.11 3.43
EPS Growth Rate
(Future 3Y To 5Y Estimate)
14.91%
Dividends per Share ($) 0.43 0.46 0.48

Piotroski F-Score Details

Piotroski F-Score: 55
Positive ROAY
Positive CFROAY
Higher ROA yoyY
CFROA > ROAY
Lower Leverage yoyN
Higher Current Ratio yoyN
Less Shares Outstanding yoyY
Higher Gross Margin yoyN
Higher Asset Turnover yoyN

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