Zoetis released Q1 2026 results yesterday (Thursday, May 7). Shares finished the day down 21.5% and fell another 5.1% today, which means the share price has roughly halved in the past year and is back to 2018 levels:
Zoetis Share Price (Since 2013 Spin-Off)
Source: Google Finance (08-May-26).
Zoetis is a small position in our “Select 15” model portfolio, having been reduced from a mid-sized position in January when the share price was at ~$129; it is currently showing a 31.8% overall loss. Prior to this, we had made a profitable roundtrip in Zoetis shares for the model portfolio in early 2023, and several more in real life.
Q1 results show our worst fears have come true, as both Simparica and Apoquel lost significant revenues to competition. We do not expect a near-term improvement. We see Zoetis as a likely “value trap”, even at ~12x P/E.
(The rest of this article is for paid subscribers only, but unlocking it costs just $10; you can see a free sample of our research here.)