Question 1

What is Zoetis's P/B ratio?

Accepted Answer

Zoetis (ZTS) P/B ratio is 9.7× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Zoetis?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Zoetis specifically, the relevant sector benchmark is the current sector median of 3.2×.

Question 5

Is Zoetis's P/B ratio high or low?

Accepted Answer

Zoetis's P/B ratio of 9.7× is below its own 5-year average of 16.9× and above the sector median of 3.2×. That places the current reading at the 1th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Zoetis's historical P/B ratio range?

Accepted Answer

In the available daily series, Zoetis (ZTS) P/B ratio has ranged from a low of 3.6× in 2012 to a high of 25.1× in 2021. The 5-year average is 16.9× and the 5-year median is 16.2×.

Question 7

What was Zoetis's P/B ratio in 2025?

Accepted Answer

Zoetis (ZTS) P/B ratio at the end of 2025 was 16.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Zoetis's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$55.1B	$3.33B	16.6×	+1.2×	Dec 31, 2025
2024	$73.4B	$4.77B	15.4×	-2.7×	Dec 31, 2024
2023	$90.6B	$5B	18.1×	+2.6×	Dec 31, 2023
2022	$68.2B	$4.41B	15.5×	-9.9×	Dec 31, 2022
2021	$115B	$4.54B	25.4×	+4.5×	Dec 31, 2021
2020	$78.7B	$3.77B	20.9×	-2.4×	Dec 31, 2020
2019	$63.1B	$2.71B	23.3×	+4.5×	Dec 31, 2019
2018	$41.1B	$2.19B	18.8×	-1.0×	Dec 31, 2018
2017	$35.1B	$1.77B	19.8×	+2.1×	Dec 31, 2017
2016	$26.4B	$1.49B	17.8×	-4.6×	Dec 31, 2016
2015	$23.9B	$1.07B	22.4×	+5.9×	Dec 31, 2015
2014	$21.6B	$1.31B	16.5×	-0.9×	Dec 31, 2014
2013	$16.3B	$940M	17.4×	+13.5×	Dec 31, 2013
2012	$15.5B	$4.03B	3.9×	-0.1×	Dec 31, 2012
2011	$14.8B	$3.72B	4.0×	—	Dec 31, 2011


Charles River (CRL)	2.6×
Danaher (DHR)	2.6×
Spruce Biosciences (SPRB)	2.6×
Regeneron Pharmaceuticals (REGN)	2.6×
Henry Schein (HSIC)	2.5×
Labcorp Holdings (LH)	2.5×
Solventum (SOLV)	2.3×
Medtronic (MDT)	2.2×
Elevance Health (ELV)	1.9×
Becton, Dickinson and (BDX)	1.8×
Pfizer (PFE)	1.8×
Cigna (CI)	1.7×
Waters Corporation (WAT)	1.6×
Cooper Companies (COO)	1.5×
Universal Health Services (UHS)	1.5×
Biogen (BIIB)	1.4×
Baxter International (BAX)	1.4×
Zimmer Biomet Holdings (ZBH)	1.4×
Revvity (RVTY)	1.4×
CVS Health (CVS)	1.2×
Humana (HUM)	1.1×
Viatris (VTRS)	1.1×
Ovid Therapeutics (OVID)	0.8×
Centene (CNC)	0.8×
Teladoc Health (TDOC)	0.7×

P/B Ratio for Zoetis (ZTS) 2011-2026

P/B Ratio daily chart for Zoetis (ZTS)

Historical P/B Ratio for Zoetis (ZTS) from 2011 to 2025

About P/B Ratio at Zoetis (ZTS)

Zoetis P/B Ratio by Year

Zoetis P/B Ratio 2025: 16.6×

Zoetis P/B Ratio 2024: 15.4×

Zoetis P/B Ratio 2023: 18.1×

Zoetis P/B Ratio 2022: 15.5×

Zoetis P/B Ratio 2021: 25.4×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Zoetis (ZTS) Key Financials