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 31,326 - -
Change - -40.84% 32.67% -18.88% -24.57% -43.5% - -
Enterprise Value (EV) 1 118,564 72,626 95,138 78,091 62,178 38,447 37,705 37,035
Change - -38.75% 31% -17.92% -20.38% -38.17% -1.93% -1.78%
P/E 57.1x 32.6x 38.9x 29.8x 20.9x 13.1x 12.3x 11.1x
PBR 25.4x 15.4x 18.1x 15.3x 16.1x 9.2x 7.35x 6.01x
PEG - 6.33x 3x 3.78x 2.1x -1.92x 1.98x 1x
Capitalization / Revenue 14.8x 8.45x 10.6x 7.94x 5.86x 3.39x 3.31x 3.18x
EV / Revenue 15.2x 8.99x 11.1x 8.44x 6.57x 4.16x 3.99x 3.75x
EV / EBITDA 34.5x 20.4x 25.6x 19.3x 14.7x 9.88x 9.3x 8.74x
EV / EBIT 39.7x 23.5x 29.4x 22.1x 16.6x 11.2x 10.6x 9.83x
EV / FCF 68.3x 54.8x 58.7x 34x 27.2x 16.2x 13.4x 12.6x
FCF Yield 1.46% 1.83% 1.7% 2.94% 3.67% 6.18% 7.47% 7.91%
Dividend per Share 2 1.075 1.35 1.557 1.796 2.03 2.118 2.26 2.453
Rate of return 0.44% 0.92% 0.79% 1.1% 1.61% 2.88% 3.07% 3.33%
EPS 2 4.27 4.49 5.07 5.47 6.02 5.61 5.958 6.598
Distribution rate 25.2% 30.1% 30.7% 32.8% 33.7% 37.8% 37.9% 37.2%
Net sales 1 7,776 8,080 8,544 9,256 9,467 9,234 9,460 9,863
EBITDA 1 3,434 3,561 3,722 4,036 4,240 3,891 4,055 4,237
EBIT 1 2,986 3,096 3,231 3,539 3,753 3,424 3,563 3,767
Net income 1 2,037 2,114 2,344 2,486 2,673 2,361 2,382 2,527
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 73.56 73.56 73.56
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.($)
13.51x4.16x9.88x2.79% 31.33B
177.54x2.97x15.02x-.--% 12.24B
13.68x1.12x5.53x3.25% 3.96B
15.41x1.78x8.75x0.55% 3.06B
55.14x - - 0.65% 2B
33.59x3.81x13.65x-.--% 1.88B
12.42x1.34x8.1x1.25% 1.55B
19.69x2.35x12.26x1.65% 1.23B
35.2x - - 0.43% 1.07B
Average 41.80x 2.51x 10.46x 1.17% 6.48B
Weighted average by Cap. 50.63x 3.42x 10.78x 1.85%

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

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