Zoetis Inc（ZTS）の決算・業績分析
Zoetis Incの2025年有価証券報告書をAI分析。売上高$9.5B(+2.3%)。Health Care。
目次
Zoetis Incの2025年度 業績サマリー
Zoetis Inc（証券コード: ZTS）の2025年度決算・業績分析。売上高は$9.5B（前年比+2.3%）。純利益は$2.7B（前年比+7.5%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
Zoetis Incの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Zoetis Inc. (ZTS) achieved $8.1B in revenue for FY2024 (+3.9% YoY) and $2.1B in net income (+3.8% YoY) (XBRL).
- Operating margin reached 38.1% and net margin 26.2%, supported by strong profitability (XBRL).
- ROE of 42.3% and ROA of 14.8% reflect efficient capital utilization (XBRL).
- Total shareholder returns of $2.2B included $1.6B in share repurchases and $611M in dividends (XBRL).
- R&D investment of $539M underscores innovation focus (XBRL).
Zoetis Incの売上高変化の要因
- •Revenue grew to $8.1B in FY2024 (+3.9% YoY), with the U.S. contributing 55% and International 44% (10-K). Product categories include parasiticides, vaccines, dermatology, and diagnostics (10-K). Revenue CAGR over five years was +8.0%, driven by consistent growth in core product lines and geographic expansion (XBRL).
Zoetis Incの営業利益変化の要因
- •Operating income reached $3.1B, with operating margin at 38.1% (XBRL). EBITDA of $3.5B (43.9% margin) and net income of $2.1B (26.2% margin) reflect strong cost control and pricing power (XBRL). Net income grew +3.8% YoY, aligning with revenue growth (XBRL).
Zoetis Incの事業リスクと対応
High competition in the animal health industry with rivals having greater resources (10-K).
Dependence on top-selling products, which could face patent loss, litigation, or supply issues (10-K).
Pressure from generic alternatives due to expired patents (10-K).
Regulatory risks like product liability, labeling changes, or enforcement actions (10-K).
R&D costs and uncertainty in the success of new products (10-K).
Geopolitical risks involving tax regime changes, tariffs, and foreign exchange rate fluctuations (10-K).
Zoetis Incの今後の見通し・業績予想
Zoetis Incの事業内容
Zoetis Inc. is a global leader in the animal health industry, generating revenue through the sale of medicines, vaccines, diagnostics, and other products for companion animals and livestock (10-K). Key segments include the U.S. (55% of revenue) and International (44% of revenue), with products divided into companion animals (68% of total revenue) and livestock (32% of total revenue) (10-K). Competitive advantages include a diversified product portfolio with ~300 product lines, global reach across eight species, and tailored solutions for regional customer needs (10-K).
Zoetis IncのAI業績分析レポート（2024年度）
Highlights
Business Overview
Zoetis Inc. is a global leader in the animal health industry, generating revenue through medicines, vaccines, diagnostics, and other products for companion animals and livestock (10-K). Key segments include the U.S. (55% of revenue) and International (44% of revenue), with products divided into companion animals (68% of total revenue) and livestock (32% of total revenue) (10-K). Competitive advantages include a diversified product portfolio with ~300 product lines, global reach across eight species, and tailored solutions for regional customer needs (10-K).
Revenue Analysis
Revenue grew to $8.1B in FY2024 (+3.9% YoY), with the U.S. contributing 55% and International 44% (10-K). Product categories include parasiticides, vaccines, dermatology, and diagnostics (10-K). Revenue CAGR over five years was +8.0%, driven by consistent growth in core product lines and geographic expansion (XBRL).
Profitability Analysis
Operating income reached $3.1B, with operating margin at 38.1% (XBRL). EBITDA of $3.5B (43.9% margin) and net income of $2.1B (26.2% margin) reflect strong cost control and pricing power (XBRL). Net income grew +3.8% YoY, aligning with revenue growth (XBRL).
Balance Sheet Analysis
Equity ratio stood at 35.0%, with total equity of $5.0B (XBRL). Long-term debt was $6.6B, resulting in a D/E ratio of 1.86x (XBRL). Current ratio of 3.36x indicates robust liquidity (XBRL). Total assets decreased slightly to $14.3B in FY2024 from $14.9B in FY2023 (XBRL).
Cash Flow Analysis
Operating cash flow was $1.9B, with free cash flow (FCF) of $1.3B (OCF $1.9B - CapEx $586M) (XBRL). CapEx of $586M (7.2% of revenue) supported growth initiatives (XBRL). Dividends paid totaled $611M, and share repurchases amounted to $1.6B (XBRL).
Working Capital Analysis
Cash Conversion Cycle (CCC) was 379 days, driven by 381 days of inventory days and 59 days of receivables days (XBRL). Payables days were 61 days (XBRL).
Risks
Outlook
Historical revenue growth of +8.0% CAGR over five years and net income growth of +10.4% CAGR suggest sustained momentum (XBRL). Management guidance is not explicitly provided in the 10-K, but long-term revenue projections align with industry trends and R&D investment (XBRL).
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