Company Valuation: Zoetis Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 115,457 68,303 90,615 73,508 55,448 28,798 - -
Change - -40.84% 32.67% -18.88% -24.57% -48.06% - -
Enterprise Value (EV) 1 118,564 72,626 95,138 78,091 62,178 35,918 35,177 34,506
Change - -38.75% 31% -17.92% -20.38% -42.23% -2.06% -1.91%
P/E 57.1x 32.6x 38.9x 29.8x 20.9x 12.4x 11.7x 10.5x
PBR 25.4x 15.4x 18.1x 15.3x 16.1x 8.71x 6.96x 5.69x
PEG - 6.33x 3x 3.78x 2.1x -1.84x 1.84x 1x
Capitalization / Revenue 14.8x 8.45x 10.6x 7.94x 5.86x 3.12x 3.04x 2.92x
EV / Revenue 15.2x 8.99x 11.1x 8.44x 6.57x 3.89x 3.71x 3.49x
EV / EBITDA 34.5x 20.4x 25.6x 19.3x 14.7x 9.24x 8.65x 8.11x
EV / EBIT 39.7x 23.5x 29.4x 22.1x 16.6x 10.5x 9.85x 9.13x
EV / FCF 68.3x 54.8x 58.7x 34x 27.2x 15.1x 12.5x 11.8x
FCF Yield 1.46% 1.83% 1.7% 2.94% 3.67% 6.61% 8.01% 8.49%
Dividend per Share 2 1.075 1.35 1.557 1.796 2.03 2.116 2.272 2.488
Rate of return 0.44% 0.92% 0.79% 1.1% 1.61% 3.04% 3.26% 3.57%
EPS 2 4.27 4.49 5.07 5.47 6.02 5.613 5.971 6.608
Distribution rate 25.2% 30.1% 30.7% 32.8% 33.7% 37.7% 38.1% 37.7%
Net sales 1 7,776 8,080 8,544 9,256 9,467 9,237 9,477 9,877
EBITDA 1 3,434 3,561 3,722 4,036 4,240 3,886 4,067 4,257
EBIT 1 2,986 3,096 3,231 3,539 3,753 3,422 3,572 3,781
Net income 1 2,037 2,114 2,344 2,486 2,673 2,362 2,388 2,532
Net Debt 1 3,107 4,323 4,523 4,583 6,730 7,121 6,379 5,709
Reference price 2 244.03 146.55 197.37 162.93 125.82 69.69 69.69 69.69
Nbr of stocks (in thousands) 473,126 466,072 459,114 451,165 440,693 413,224 - -
Announcement Date 2/15/22 2/14/23 2/13/24 2/13/25 2/12/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
32.45x11.78x23.93x0.61% 1,019B
28.48x6.32x17.7x2.09% 617B
33.26x7.78x16.08x2.64% 464B
104.98x5.87x24.89x2.36% 356B
18.81x4.58x11.36x2.9% 333B
19.83x5.17x12.78x3.09% 267B
20.02x4.17x11.86x2.13% 244B
25.46x6.66x11.86x2.5% 218B
-43.78x6.39x24.97x2.27% 179B
Average 26.61x 6.52x 17.27x 2.29% 410.8B
Weighted average by Cap. 31.80x 7.61x 18.61x 1.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield