Zoetis Inc. Files 2024 10-K Annual Report

TL;DR

Zoetis dropped its 2024 10-K. Full financials for the year ending Dec 31, 2024 are out.

AI Summary

Zoetis Inc. filed its 2024 10-K on February 13, 2025, reporting on its fiscal year ending December 31, 2024. The company, headquartered in Parsippany, NJ, operates in the pharmaceutical preparations sector. The filing covers financial performance and business operations for the fiscal year 2024, with comparative data from 2023 and 2022.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Zoetis's financial health, strategic initiatives, and risk factors for the 2024 fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a standard annual report filing for a publicly traded company, providing routine financial and operational disclosures.

Key Numbers

• 2024 — Fiscal Year (Reporting period for the 10-K)
• 2023 — Prior Fiscal Year (Comparative financial data)
• 2022 — Prior Fiscal Year (Comparative financial data)

Key Players & Entities

• Zoetis Inc. (company) — Filer of the 10-K
• Parsippany, NJ (location) — Company headquarters
• 2024-12-31 (date) — Fiscal year end
• 2025-02-13 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share ZTS New York Stock
• $5,074 m — : United States (U.S.) with revenue of $5,074 million, or 55% of total revenue for the
• $4,102 m — 024; and International with revenue of $4,102 million, or 44% of total revenue for the
• $5,074 — mpanion Animal Livestock United States $5,074 80% 20% Total International $4,102 54%
• $4,102 — tes $5,074 80% 20% Total International $4,102 54% 46% Australia $319 53% 47% Brazil
• $319 — International $4,102 54% 46% Australia $319 53% 47% Brazil $414 41% 59% Canada $2
• $414 — 54% 46% Australia $319 53% 47% Brazil $414 41% 59% Canada $277 62% 38% Chile $12
• $277 — 19 53% 47% Brazil $414 41% 59% Canada $277 62% 38% Chile $123 23% 77% China $270
• $123 — 414 41% 59% Canada $277 62% 38% Chile $123 23% 77% China $270 69% 31% France $15
• $270 — $277 62% 38% Chile $123 23% 77% China $270 69% 31% France $156 66% 34% Germany $
• $156 — 123 23% 77% China $270 69% 31% France $156 66% 34% Germany $225 77% 23% Italy $1
• $225 — 0 69% 31% France $156 66% 34% Germany $225 77% 23% Italy $129 78% 22% Japan $147
• $129 — 56 66% 34% Germany $225 77% 23% Italy $129 78% 22% Japan $147 70% 30% Mexico $16
• $147 — $225 77% 23% Italy $129 78% 22% Japan $147 70% 30% Mexico $169 36% 64% Spain $13
• $169 — 129 78% 22% Japan $147 70% 30% Mexico $169 36% 64% Spain $130 60% 40% United Kin

Filing Documents

• zts-20241231.htm (10-K) — 3192KB
• exhibit419descriptionofsec.htm (EX-4.19) — 16KB
• exhibit1039zoetisformofprs.htm (EX-10.39) — 97KB
• exhibit1041zoetispsru-tsr.htm (EX-10.41) — 93KB
• exhibit1042uksubplan.htm (EX-10.42) — 5KB
• exhibit19insidertradingpol.htm (EX-19) — 56KB
• ex211-20241231.htm (EX-21.1) — 75KB
• ex23-20241231.htm (EX-23.1) — 2KB
• ex31120241231.htm (EX-31.1) — 9KB
• ex312-20241231.htm (EX-31.2) — 9KB
• ex321-20241231.htm (EX-32.1) — 4KB
• ex322-20241231.htm (EX-32.2) — 4KB
• image_0.jpg (GRAPHIC) — 101KB
• zts-20241231_g1.jpg (GRAPHIC) — 42KB
• zts-20241231_g2.jpg (GRAPHIC) — 49KB
• zts-20241231_g3.jpg (GRAPHIC) — 114KB
• 0001555280-25-000102.txt ( ) — 17656KB
• zts-20241231.xsd (EX-101.SCH) — 85KB
• zts-20241231_cal.xml (EX-101.CAL) — 111KB
• zts-20241231_def.xml (EX-101.DEF) — 545KB
• zts-20241231_lab.xml (EX-101.LAB) — 1195KB
• zts-20241231_pre.xml (EX-101.PRE) — 877KB
• zts-20241231_htm.xml (XML) — 3011KB

Business

Business Overview 1 Operating Segments 1 Products 3 International Operations 6 Sales and Marketing 6 Customers 6 Research and Development 7 Manufacturing and Supply Chain 7 Competition 8 Intellectual Property 8 Regulatory 9 Human Capital Management 11 Information about our Executive Officers 12 Environmental, Health and Safety 13 Available Information 14 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 27

Cybersecurity

Item 1C. Cybersecurity 27 Item 2.

Properties

Properties 28 Item 3.

Legal Proceedings

Legal Proceedings 28 Item 4. Mine Safety Disclosures 28 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 31

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 51 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 52 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 91 Item 9A.

Controls and Procedures

Controls and Procedures 91 Item 9B. Other Information 91

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 91 PART III Item 10. Directors, Executive Officers and Corporate Governance 92 Item 11.

Executive Compensation

Executive Compensation 92 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 92 Item 13. Certain Relationships and Related Transactions, and Director Independence 92 Item 14. Principal Accountant Fees and Services 92 PART IV Item 15. Exhibit, Financial Statement Schedules 93 Item 16. Form 10-K Summary 93 EXHIBIT INDEX 94

SIGNATURES

SIGNATURES 98 Table of Contents PART I

Business

Item 1. Business. Overview Zoetis Inc. is a global leader in the animal health industry, focused on the discovery, development, manufacture and commercialization of medicines, vaccines, diagnostic products and services, biodevices, genetic tests and precision animal health. We have a diversified business, commercializing products across eight core species: dogs, cats and horses (collectively, companion animals) and cattle, swine, poultry, fish and sheep (collectively, livestock); and within seven major product categories: parasiticides, vaccines, dermatology, anti-infectives, pain and sedation, other pharmaceutical and animal health diagnostics. For over 70 years, we have been innovating ways to predict, prevent, detect, and treat animal illness, and continue to stand by those raising and caring for animals worldwide - from veterinarians and pet owners to livestock producers. We were incorporated in Delaware in July 2012 and prior to that the company was a business unit of Pfizer Inc. (Pfizer). The address of our principal executive offices is 10 Sylvan Way, Parsippany, New Jersey 07054. Unless the context requires otherwise, references to "Zoetis," "the company," "we," "us" or "our" in this Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (2024 Annual Report) refer to Zoetis Inc., a Delaware corporation, and its subsidiaries. In addition, unless the context requires otherwise, references to "Pfizer" in this 2024 Annual Report refer to Pfizer Inc., a Delaware corporation, and its subsidiaries. Operating Segments The animal health medicines, vaccines and diagnostics market is characterized by meaningful differences in customer needs across different regions. This is due to a variety of factors, including: economic differences, such as standards of living in developed markets as compared to emerging markets; cultural differences, such as dietary preferences for different animal proteins, pet ownership preferences and pet care standards;

View Full Filing

View this 10-K filing on SEC EDGAR