Zoetis Inc. (ZTS): Canvas du modèle commercial [Jan-2025 MISE À JOUR]

Dans le monde dynamique de la santé animale, Zoetis Inc. (ZTS) est une force pionnière, révolutionnant les soins vétérinaires grâce à son modèle commercial innovant. De la recherche pharmaceutique de pointe aux réseaux de distribution mondiaux, ce leader de l'industrie transforme la façon dont nous abordons le bien-être animal, en servant tout, des animaux de compagnie bien-aimés aux populations de bétail critiques. Leur stratégie complète couvre des diagnostics avancés, des vaccins pionniers et des solutions sur mesure qui améliorent non seulement la santé des animaux mais stimulent également la productivité agricole et l'innovation scientifique.

Zoetis Inc. (ZTS) - Modèle d'entreprise: partenariats clés

Cliniques vétérinaires et hôpitaux d'animaux du monde

Zoetis maintient des partenariats avec environ 70 000 cliniques vétérinaires dans le monde. En 2023, la société a signalé des liens directs avec plus de 85% des pratiques vétérinaires des animaux compagnons aux États-Unis.

Type de partenariat	Nombre de cliniques	Couverture géographique
Cliniques d'animaux de compagnie	45,000	Amérique du Nord, Europe, Asie-Pacifique
Pratiques vétérinaires du bétail	25,000	Régions agricoles mondiales

Institutions de recherche agricole

Zoetis collabore avec 52 grands centres de recherche agricole dans 18 pays. Les partenariats de recherche se concentrent sur l'innovation en santé animale et le développement génétique.

• Université de Californie Davis
• Université d'État de l'Iowa
• Royal Veterinary College, Royaume-Uni
• Université agricole de Chine

Fabricants et fournisseurs pharmaceutiques

En 2023, Zoetis a travaillé avec 127 partenaires de fabrication pharmaceutique, avec 73% situés en Amérique du Nord et en Europe.

Catégorie des fournisseurs	Nombre de partenaires	Valeur d'achat annuelle
Fournisseurs d'ingrédients pharmaceutiques actifs	42	876 millions de dollars
Fournisseurs de matériaux d'emballage	85	412 millions de dollars

Organisations d'élevage d'élevage et d'animaux compagnons

Zoetis s'associe à 215 organisations de reproduction dans le monde, couvrant la génétique animale à la fois et compagnon.

• American Angus Association
• Holstein Association USA
• Fondation AKC Canine Health
• Société internationale de transfert d'embryons

Provideurs de solutions de santé et de santé numérique

En 2023, Zoetis a investi 127 millions de dollars dans des partenariats de santé numériques, collaborant avec 38 sociétés technologiques spécialisées dans les solutions numériques vétérinaires.

Focus technologique	Nombre de partenaires	Investissement
Plateformes de télémédecine	12	42 millions de dollars
Sociétés d'analyse de données	26	85 millions de dollars

Zoetis Inc. (ZTS) - Modèle d'entreprise: activités clés

Recherche et développement de produits en santé animale

Investissement en R&D en 2023: 526 millions de dollars

Zone de focus R&D	Investissement annuel
Produits d'animaux de compagnie	342 millions de dollars
Solutions de santé du bétail	184 millions de dollars

Fabrication de produits pharmaceutiques et vaccins vétérinaires

Installations de fabrication totale: 25 emplacements mondiaux

• Sites de fabrication dans 12 pays
• Capacité de production annuelle: 2,3 milliards de doses de vaccin
• Production pharmaceutique annuelle: 1,7 milliard d'unités

Essais cliniques et tests de produits

Catégorie d'essai	Essais annuels effectués
Essais d'animaux compagnons	87 études cliniques
Essais d'élevage	53 études cliniques

Ventes mondiales et commercialisation de solutions de santé animale

2023 Ventes mondiales: 8,1 milliards de dollars

• Segment des animaux compagnons: 4,9 milliards de dollars
• Segment d'élevage: 3,2 milliards de dollars
• Ventes dans plus de 100 pays dans le monde

Services de diagnostic vétérinaire

Service de diagnostic	Tests annuels effectués
Diagnostics d'animaux compagnons	42 millions de tests
Diagnostic de bétail	18 millions de tests

Zoetis Inc. (ZTS) - Modèle d'entreprise: Ressources clés

Portefeuille de brevets étendus

En 2024, Zoetis détient environ 1 200 brevets actifs sur les marchés mondiaux. Valeur du portefeuille de brevets estimé à 2,3 milliards de dollars.

Catégorie de brevet	Nombre de brevets	Valeur estimée
Santé des animaux de compagnie	650	1,2 milliard de dollars
Santé animale de bétail	550	1,1 milliard de dollars

Installations de recherche et de développement

Zoetis exploite 8 centres de R&D primaires dans le monde avec un investissement total de 658 millions de dollars en 2023.

• Emplacements primaires de R&D: États-Unis, Chine, Brésil, Allemagne
• Dépenses annuelles de R&D: 658 millions de dollars
• Personnel de recherche total: 1 400 scientifiques et vétérinaires

Réseau de distribution mondial

Zoetis maintient les infrastructures de distribution dans plus de 100 pays avec 21 installations de fabrication.

Région	Nombre de centres de distribution	Volume de distribution annuel
Amérique du Nord	12	4,2 milliards de dollars
Europe	6	2,7 milliards de dollars
Asie-Pacifique	3	1,9 milliard de dollars

Ressources humaines

Total de main-d'œuvre de 14 200 employés à partir de 2024, avec une expertise spécialisée en sciences vétérinaires.

• Employés titulaires de diplômes avancés: 62%
• Tiration moyenne des employés: 8,3 ans
• Diversité mondiale des employés: 45% de femmes, 55% d'hommes

Réputation de la marque

Leadership sur le marché avec 20% de part de marché mondiale dans les produits de santé animale, d'une valeur de 7,6 milliards de dollars de capitaux propres.

Métrique de la marque	Valeur
Part de marché mondial	20%
Marque	7,6 milliards de dollars
Index de fidélité des clients	87%

Zoetis Inc. (ZTS) - Modèle d'entreprise: propositions de valeur

Solutions complètes de santé animale pour le bétail et les animaux de compagnie

Zoetis a généré 8,125 milliards de dollars de revenus en 2023, avec des segments de produits clés, notamment:

Segment	Revenus (2023)
Produits d'animaux de compagnie	4,3 milliards de dollars
Produits d'élevage	3,825 milliards de dollars

Vaccins innovants et traitements pharmaceutiques

Zoetis a investi 734 millions de dollars dans la recherche et le développement en 2023, en se concentrant sur:

• Vaccines d'animaux compagnons
• Prévention des maladies du bétail
• Traitements pharmaceutiques

Amélioration du bien-être et de la productivité des animaux

Métriques de performance du produit:

Catégorie de produits	Amélioration de la productivité
Vaccins contre le bétail	Jusqu'à 15% accru la productivité agricole
Médicaments pour animaux de compagnie	Prévention accrue des maladies de 22%

Technologies de santé diagnostiques et préventives avancées

Portfolio de technologie de diagnostic d'une valeur de 1,2 milliard de dollars en 2023, notamment:

• Kits de test génétique
• Plateformes de médecine de précision
• Systèmes de surveillance de la santé numérique

Produits scientifiquement éprouvés et assurés par la qualité

Métriques d'assurance qualité:

Métrique de qualité	Performance
Taux d'approbation des produits	98.5%
Taux de réussite des essais cliniques	87%

Zoetis Inc. (ZTS) - Modèle d'entreprise: relations clients

Équipes de vente directes soutenant les vétérinaires

Zoetis maintient une force de vente dédiée de 3 700 représentants dans le monde en 2023. Ces représentants interagissent directement avec des professionnels vétérinaires à travers les secteurs des animaux et de l'élevage.

Segment de l'équipe de vente	Nombre de représentants
Division des animaux de compagnie	2,100
Division des animaux d'élevage	1,600

Plates-formes de support client numérique

Zoetis exploite des canaux de support numériques complets avec Accessibilité du service client 24/7 en ligne 24/7.

• Site Web du support client avec un taux de réponse de 98,5%
• Application mobile pour les informations sur le produit
• Canaux d'assistance par e-mail

Formation technique et ressources éducatives

Zoetis investit 42,6 millions de dollars par an dans les programmes d'éducation et de formation client.

Programme de formation	Investissement annuel
Webinaires professionnels vétérinaires	12,3 millions de dollars
Plateformes d'apprentissage en ligne	18,7 millions de dollars
Ateliers de formation sur place	11,6 millions de dollars

Services de consultation personnalisés

Zoetis fournit des services de consultation spécialisés sur plusieurs segments vétérinaires.

• Vétérinaires de services techniques dédiés: 650 professionnels
• Programmes de recommandation de produits personnalisés
• Services de consultation à la ferme / clinique individuels

Engagement client continu à travers les canaux numériques

Les mesures d'engagement numérique démontrent une solide stratégie d'interaction client de Zoetis.

Canal numérique	Utilisateurs actifs mensuels
Portail client	127,500
Application mobile	85,300
Plateforme communautaire professionnelle	62,700

Zoetis Inc. (ZTS) - Modèle d'entreprise: canaux

Force de vente directe

Zoetis maintient une force de vente directe mondiale de 3 700 représentants des ventes à partir de 2023. L'équipe de vente couvre directement 45 pays, avec des équipes spécialisées pour différents segments de santé animale.

Segment de l'équipe de vente	Nombre de représentants
Segment des animaux de compagnie	2,100
Bétail	1,600

Cliniques et hôpitaux vétérinaires

Zoetis dessert environ 70 000 cliniques vétérinaires dans le monde, avec des stratégies d'engagement directes.

• Couverture de la clinique vétérinaire nord-américaine: 85%
• Couverture de la clinique vétérinaire européenne: 65%
• Couverture de la clinique vétérinaire en Asie-Pacifique: 55%

Plateformes de commerce électronique en ligne

Les canaux de vente numériques ont généré 1,2 milliard de dollars de revenus pour Zoetis en 2023, ce qui représente 12% du total des ventes d'entreprises.

Plate-forme de commerce électronique	Volume des ventes annuelles
Site Web de Zoetis Direct	450 millions de dollars
Plates-formes vétérinaires tierces	750 millions de dollars

Magasins d'approvisionnement agricole

Zoetis distribue des produits dans 12 500 magasins d'approvisionnement agricole dans 30 pays.

• Couverture des magasins agricoles des États-Unis: 4 200 magasins
• Couverture des magasins agricoles du Brésil: 2 100 magasins
• Couverture européenne du magasin agricole: 3 600 magasins

Réseaux de distributeurs dans plusieurs pays

Zoetis opère à travers 250 distributeurs indépendants dans 100 pays, couvrant les régions avec une présence de vente directe limitée.

Région	Nombre de distributeurs	Couverture du marché
Afrique	45	35 pays
Moyen-Orient	30	20 pays
l'Amérique latine	75	25 pays

Zoetis Inc. (ZTS) - Modèle d'entreprise: segments de clientèle

Élevage et producteurs agricoles

Zoetis dessert environ 1,3 million d'élevage dans le monde, avec une portée de marché dans plus de 100 pays.

Bétail	Taille du marché mondial	Contribution des revenus
Producteurs de bétail	500 000 fermes	2,4 milliards de dollars (2023)
Producteurs de porcs	67 000 fermes commerciales	1,8 milliard de dollars (2023)
Producteurs de volailles	20 000 opérations commerciales	1,2 milliard de dollars (2023)

Professionnels vétérinaires

Zoetis dessert environ 85 000 cliniques vétérinaires dans le monde.

• Vétérinaires d'animaux compagnons: 65 000 cliniques
• Vétérinaires de grands animaux: 20 000 pratiques

Propriétaires d'animaux de compagnie

Le marché cible comprend 470 millions de ménages familiers dans le monde.

Catégorie d'animaux	Ménages mondiaux	Potentiel de marché
Propriétaires de chiens	250 millions de ménages	3,6 milliards de dollars (2023)
Propriétaires de chats	180 millions de ménages	2,9 milliards de dollars (2023)

Organisations d'élevage d'animaux

Zoetis dessert 5 000 organisations de reproduction commerciales à l'échelle internationale.

• Élevage laitier: 2 500 organisations
• Élevage de bovins de boucherie: 1 200 organisations
• Élevage de porcs: 800 organisations
• Élevage de volailles: 500 organisations

Institutions de recherche et universités

Zoetis collabore avec 350 institutions de recherche dans le monde.

Type de recherche	Nombre d'institutions	Investissement en recherche
Recherche vétérinaire	200 institutions	450 millions de dollars (2023)
Recherche agricole	100 institutions	250 millions de dollars (2023)
Recherche de biotechnologie	50 institutions	150 millions de dollars (2023)

Zoetis Inc. (ZTS) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Au cours de l'exercice 2023, Zoetis a investi 416 millions de dollars dans les dépenses de recherche et développement, ce qui représente 6,4% des revenus totaux.

Année	Dépenses de R&D	Pourcentage de revenus
2023	416 millions de dollars	6.4%
2022	385 millions de dollars	6.2%

Coûts de fabrication et de production

Zoetis a déclaré le coût total des ventes à 3,1 milliards de dollars en 2023, avec des installations de production clés situées dans:

• États-Unis
• Chine
• Brésil
• Allemagne

Investissements de vente et de marketing

Les frais de vente et de marketing de Zoetis en 2023 ont totalisé 1,8 milliard de dollars, ce qui représente environ 27,7% des revenus totaux.

Catégorie de dépenses	Montant	Pourcentage de revenus
Ventes et marketing	1,8 milliard de dollars	27.7%

Infrastructure de distribution mondiale

Zoetis exploite 25 sites de fabrication dans le monde, avec des réseaux de distribution dans plus de 100 pays.

• Dépenses logistiques: 287 millions de dollars en 2023
• Centres de distribution mondiaux: 12 centres de distribution majeurs

Conformité réglementaire et contrôle de la qualité

Les dépenses de conformité et de contrôle de la qualité pour Zoetis en 2023 étaient d'environ 215 millions de dollars.

Zone de conformité	Frais
Conformité réglementaire	135 millions de dollars
Contrôle de qualité	80 millions de dollars

Zoetis Inc. (ZTS) - Modèle d'entreprise: Strots de revenus

Ventes de produits pharmaceutiques

Revenus de produits pharmaceutiques totaux pour Zoetis en 2023: 7,39 milliards de dollars

Catégorie de produits	Revenus (2023)	Pourcentage de la vente pharmaceutique totale
Compagnon pharmaceutique	4,52 milliards de dollars	61.2%
Livestock Pharmaceuticals	2,87 milliards de dollars	38.8%

Vaccines et produits de vaccination

Revenu total des vaccins pour Zoetis en 2023: 2,16 milliards de dollars

Segment vaccinal	Revenus (2023)	Marchés clés
Vaccines d'animaux compagnons	1,34 milliard de dollars	États-Unis, Europe
Vaccins contre le bétail	0,82 milliard de dollars	Marchés mondiaux

Services de test de diagnostic

Revenus de services de diagnostic en 2023: 653 millions de dollars

• Tests de diagnostic d'animaux compagnons: 412 millions de dollars
• Services de diagnostic d'élevage: 241 millions de dollars

Solutions de gestion de la santé du bétail

Revenus de gestion de la santé du bétail total en 2023: 1,87 milliard de dollars

Bétail	Revenus (2023)	Régions primaires
Solutions de santé des bovins	1,12 milliard de dollars	Amérique du Nord, Brésil
Gestion de la santé de la volaille	0,45 milliard de dollars	Marchés mondiaux
Solutions de santé porcine	0,30 milliard de dollars	États-Unis, Chine

Abonnements à la technologie de la santé numérique

Revenus de technologie de santé numérique en 2023: 187 millions de dollars

• Plateformes de santé numérique des animaux compagnons: 112 millions de dollars
• Élevage Solutions de surveillance numérique: 75 millions de dollars

Zoetis Inc. (ZTS) - Canvas Business Model: Value Propositions

You're looking at the core reasons why veterinarians and producers choose Zoetis Inc. over others; it's about delivering health solutions across the entire animal lifecycle, from prevention to advanced treatment.

Comprehensive animal health solutions: Predict, Prevent, Detect, and Treat (Continuum of Care)

Zoetis Inc. focuses on an integrated approach to animal health, aiming to keep animals healthy through a full spectrum of offerings. This strategy is designed to deliver profitable growth by enhancing existing products while driving new industry advances. For the third quarter of 2025, the company reported revenue of $2.4 billion, achieving 4% organic operational growth. The company's 2024 revenue was $9.3 billion.

The value proposition centers on this continuum of care, which is supported by a robust and diversified R&D pipeline featuring 12 candidates with blockbuster potential.

Innovative monoclonal antibody therapies for chronic pain (Librela, Solensia)

The monoclonal antibody (mAb) products for osteoarthritis (OA) pain, Librela for dogs and Solensia for cats, represent a key area of innovation, though they faced headwinds in the U.S. companion animal segment in Q3 2025. In the second quarter of 2025, sales for Librela declined 16% and Solensia declined 3%. To counter this, Zoetis Inc. is advancing next-generation therapies, including extended-duration versions of these products. In 2024, Librela generated $581 million in sales and is expected to peak at over $1 billion.

The company anticipates near-term catalysts, such as the Canadian approval of Lenivia (a 3-month canine OA mAb) and the EU approval of Portela (a 3-month feline OA mAb).

Market-leading dermatology and parasiticides franchises (e.g., Apoquel, Simparica)

The parasiticides and dermatology franchises are foundational growth drivers. In 2024, these key products, including Simparica Trio, Apoquel, and Cytopoint, accounted for one-third of total revenue and saw 22% growth. The International segment in Q3 2025 saw growth driven by the Simparica franchise, with International Simparica revenue at $93 million (up 22% operationally) and Trio revenue at $41 million (up 32% operationally).

The triple-combination parasiticide market is projected to grow from $2.2 billion in 2024 to $4.5 billion by 2028.

Key product performance metrics from Q2 2025 include:

Product/Franchise	Growth Metric (Q2 2025)	Market Share/Context
Simparica Trio	+18% growth	Share of vet practices increased from 30% to 45%
Key Dermatology Products	+9% growth	Competitors include Elanco's Zenrelia and Merck's Numelvi

Solutions for livestock productivity, disease prevention, and food safety

Livestock remains a vital growth engine for Zoetis Inc.. In Q3 2025, organic operational growth for livestock was strong, with U.S. livestock growing 14% organically and the overall segment seeing +8-10% organic operational growth. This growth was supported by improved supply of ceftiofur and vaccine strength. In 2024, companion animals accounted for 68% of revenue, while livestock accounted for 31%.

The company's value proposition here includes:

• Driving productivity and sustainable animal protein supply.
• Disease prevention through vaccines and medicines.
• Focus on cattle, swine, poultry, and fish segments.

Pipeline expansion into high-value markets: oncology, cardiology, chronic kidney disease

Zoetis Inc. is actively expanding into new therapeutic frontiers to capture significant unmet medical needs. These new areas-chronic kidney disease (CKD), oncology, and cardiology-represent more than $5 billion in total addressable market opportunity.

The potential market sizes for these areas are substantial:

• Chronic Kidney Disease (CKD) is cited as the single largest opportunity, estimated at $3 billion to $4 billion annually, with no current treatment for dogs or cats.
• Oncology is estimated to represent a $2 billion market.

The company is progressing toward initial approvals in veterinary oncology in 2028 and 2029. The overall animal health market is anticipated to nearly double to approximately $90 billion by 2035.

For the full year 2025, Zoetis Inc. revised its revenue guidance to between $9.400 billion and $9.475 billion, implying organic operational growth of 5.5% to 6.5%.

Finance: review Q4 2025 cash flow projections against the revised FY2025 revenue guidance by Monday.

Zoetis Inc. (ZTS) - Canvas Business Model: Customer Relationships

You're looking at how Zoetis Inc. keeps its customers-vets, pet owners, and large producers-engaged and loyal. It's a mix of direct human interaction and digital tools, which makes sense given the complexity of animal health.

Dedicated direct sales force providing technical and veterinary expertise

Zoetis Inc. maintains a significant commercial footprint, employing approximately 13,800 people globally as of 2024. This organization includes dedicated sales representatives and technical/veterinary operations specialists. These specialists, who generally hold advanced veterinary degrees, are key relationship builders. They offer scientific consulting on disease management and herd health protocols. The company aims to understand customer needs through these direct relationships. Annually, Zoetis Inc. secures around 200 regulatory approvals, which these field teams then translate into relevant customer education.

High-touch, consultative relationship with veterinary professionals

The relationship with veterinary professionals is consultative, focusing on providing training and education, especially around responsible product use. This high-touch approach supports the adoption of innovative products like the osteoarthritis pain monoclonal antibodies, Librela and Solensia, which saw 80% operational growth in 2024. The company explicitly states its focus is to 'stay deeply connected to our customers.' For companion animal products, which drove 8% sales growth in Q1 2025, this connection is vital for driving volume in key franchises.

Digital solutions and data insights to help customers manage practices/herds

Zoetis Inc. integrates digital tools to enhance customer management capabilities. The company launched the 'Vetscan OptiCell,' an AI-powered hematology analyzer, in January 2025 to improve diagnostic efficiency at the point of care for U.S. veterinarians. In Europe, the launch of VetConnect Plus Europe, a cloud-based platform, integrates diagnostics, prescriptions, and pet health records for veterinary clinics. The company leverages customer data and CRM systems to gain insights, which helps optimize marketing and improve customer experiences. Furthermore, the use of AI in R&D and diagnostics is a core part of meeting evolving customer needs.

Here's a look at some key financial and program metrics:

Metric Category	Specific Data Point	Value/Amount	Date/Period
Customer Loyalty Program	Petcare Rewards Program Members	Over 3 million	As of May 1, 2024
Customer Loyalty Program	Rewards Spent at Practices	Over $80 million	As of May 1, 2024
Digital Solution Example	Vetscan OptiCell Launch	January 2025	2025
Segment Revenue	Q2 2025 Total Revenue	$2.5 billion	Q2 2025
Segment Revenue	Q1 2025 Livestock Revenue	$645 million	Q1 2025

Customer service and support for product use and compliance programs

Support extends to ensuring compliance and proper product use, which is managed directly by the field teams. For pet owners, Zoetis Inc. incentivizes purchases through the Petcare Rewards program, which began in 2024. This program offers tiered rewards and personalized product suggestions to over 3 million members. This focus on the end-user experience supports the strong performance of franchises like Simparica Trio, which achieved over $1 billion in global revenue in 2024.

B2B relationship management with large livestock producers and integrators

Sales to the livestock segment are made to veterinarians, producers (beef, dairy, pork, poultry), and third-party distributors. The company actively works to strengthen its connection with ranchers and dairy producers, for instance, by developing an emotional docuseries released in July 2025. The livestock segment remains a substantial part of the business, contributing $645 million in revenue in Q1 2025. The relationship with distributors is also significant; in 2024, sales to the single largest U.S. veterinary distributor accounted for approximately 14% of total revenue. This indicates a reliance on key B2B partners for market access and logistics, even as the company maintains a direct presence in emerging markets like China and Brazil.

Finance: review Q3 2025 segment revenue breakdown against direct sales force deployment by Friday.

Zoetis Inc. (ZTS) - Canvas Business Model: Channels

You're looking at how Zoetis Inc. gets its innovative animal health products into the hands of veterinarians, pet owners, and livestock producers globally. The channel strategy is a mix of direct engagement and broad third-party leverage, which is key to maintaining their position as the world's leading animal health company.

Direct sales force to veterinary clinics and livestock producers. Zoetis Inc. maintains a significant direct commercial presence, supported by approximately 13,800 employees as of the end of 2024, many of whom are sales representatives and technical/veterinary operations specialists. These teams visit customers directly to promote products and provide scientific consulting on disease and herd management. This direct relationship is crucial for high-value companion animal products and complex livestock solutions. The company organizes its commercial operations across two main segments: the United States (U.S.) and International, reflecting where this direct engagement is most concentrated or structured differently.

Third-party veterinary distributors for broad market reach. Where Zoetis Inc. does not have a direct commercial footprint, it relies on contracted distributors for logistics and sales support. This partnership model allows the company to achieve broad market penetration efficiently. For context on the scale, in the second quarter of 2025, the U.S. segment revenue was $1.4 billion, while the International segment revenue was $1.1 billion, showing a substantial global distribution effort that relies on both direct and indirect channels. Overall, operations outside the U.S. accounted for 44% of total revenue for the year ended December 31, 2024. The company's leading portfolio and pipeline make a difference in over 100 countries. It's a massive logistical undertaking, for sure.

Online sales platforms for veterinary professionals. While specific revenue figures tied exclusively to dedicated online platforms for veterinary professionals aren't broken out separately in the latest reports, the overall digital shift is implicitly supported by the company's focus on innovation and customer connection. The success of key companion animal products, which drive the majority of revenue, suggests strong integration with digital ordering systems used by clinics. For instance, companion animal sales in the U.S. segment grew 9% organically in Q2 2025, indicating high product uptake through whatever channel is used.

Retail and e-commerce platforms (e.g., Chewy.com) for certain companion animal products. The company's strategy for companion animal products, which represented about two-thirds of total revenue in 2024, includes access to the consumer market, often via retail and e-commerce partners. The continued demand for parasiticides like the Simparica franchise and dermatology treatments like Apoquel and Cytopoint is supported by these consumer-facing channels. The overall companion animal sales in the International segment grew 8% in Q2 2025, reflecting strong pull-through across all consumer access points. You have to be where the pet owners are shopping.

Global supply chain distributing products in over 100 countries. The distribution backbone supports the entire channel strategy. Zoetis Inc. manages a complex global supply chain to ensure its products reach customers in over 100 countries. This scale is reflected in the segment reporting: Q3 2025 revenue was $2.4 billion, with the International segment contributing $1.1 billion, growing 6% organically. The company's ability to manage this global flow, including navigating currency fluctuations and regulatory hurdles in foreign jurisdictions, is a core operational strength.

Here's a quick look at the segment revenue distribution, which is the clearest proxy we have for the geographic reach of their channels as of late 2025:

Metric	Value (Q3 2025 Reported)	Organic Growth (Q3 2025)	Context
Total Revenue	$2.4 billion	4%	Overall company performance
U.S. Segment Revenue	$1.3 billion	3%	Direct sales force focus area
International Segment Revenue	$1.1 billion	6%	Reliance on distributors and global logistics

The channel strategy is clearly bifurcated to maximize penetration in mature markets like the U.S. while aggressively growing in international markets, often through distributor networks. The success of blockbuster products hinges on this multi-pronged approach.

• Direct sales force supports specialized product adoption by veterinarians.
• Distributors provide necessary logistics across the 100+ countries served.
• Companion animal products, making up about two-thirds of 2024 revenue, leverage retail/e-commerce.
• The company employed approximately 13,800 people as of year-end 2024 to support these interactions.

Finance: draft 13-week cash view by Friday.

Zoetis Inc. (ZTS) - Canvas Business Model: Customer Segments

Zoetis Inc. (ZTS) serves a diverse set of customers across companion animal and livestock health markets, organized operationally into the United States and International segments.

The third quarter of 2025 revenue totaled $2.4 billion, with an organic operational increase of 4% compared to the third quarter of 2024.

Operational Segment	Q3 2025 Reported Revenue	Reported Year-over-Year Change	Organic Year-over-Year Change
United States (U.S.)	$1.3 billion	-2%	+3%
International	$1.1 billion	+3%	+6%

The customer base is served through product portfolios that align with these end-user groups.

• Veterinary Professionals (private practices, hospitals).
• Companion Animal Owners (dogs, cats, horses).
• Livestock Producers (cattle, swine, poultry, aquaculture).
• Government and Non-Governmental Organizations (NGOs) for public health initiatives.
• Strategic accounts like large corporate veterinary groups and integrators.

Companion animal products are a primary growth driver, with sales in the International segment growing 8% on a reported basis in Q3 2025.

For the U.S. segment in Q3 2025, sales of innovative companion animal products were flat for the quarter. However, the osteoarthritis (OA) pain franchise, which includes Librela and Solensia, saw 80% operational growth in 2024. The Simparica Trio franchise for dogs achieved over $1 billion in global revenue in 2024.

Livestock product sales in the International segment showed an organic increase of 8% in Q3 2025, despite a reported decline of 2% due to the divestiture of the medicated feed additive (MFA) portfolio. Separately, one report indicated the livestock portfolio grew 10% organically in Q3 2025, reaching $725 million. In Q1 2025, livestock products contributed $645 million to revenue.

In the first quarter of 2025, the U.S. segment accounted for a substantial 54% of total revenue, reaching $1.2 billion. Companion animal products represented 68% of total revenue in the 2023 Form 10-K, with livestock products at 31%.

Customer acquisition for veterinary customers involves direct sales forces, attendance at veterinary conferences, and educational programs. Retention in the livestock segment is driven by the demonstrated economic value of the company's solutions and consistent product performance.

Zoetis Inc. (ZTS) - Canvas Business Model: Cost Structure

The cost structure for Zoetis Inc. is heavily weighted toward innovation and market presence, reflecting its position as a leading animal health company.

High fixed costs from global manufacturing and supply chain operations represent a foundational element of the cost base. While specific fixed cost figures aren't explicitly broken out in the latest reports, the scale of global manufacturing for pharmaceuticals and biologics implies significant capital investment in facilities and operational infrastructure that must be absorbed regardless of short-term volume fluctuations.

Significant investment in Research and Development (R&D) remains a priority. For the latest twelve months ending September 30, 2025, R&D expenses were reported at $685 million. This follows a peak of $686 million in fiscal year 2024. The company's 2025 guidance, issued in February 2025, projected adjusted R&D expenses between $680 million and $690 million for the full year. To be fair, R&D growth was only 1% operationally in Q2 2025, driven by higher compensation costs partially offset by timing of project spend.

Selling, General, and Administrative (SG&A) expenses reflect the cost of maintaining a global commercial footprint. For the twelve months ending September 30, 2025, total SG&A expenses reached $2.384 billion. Looking specifically at the second quarter of 2025, operational SG&A expenses increased by 6%, primarily due to the timing of advertising and promotion spend and higher compensation-related expenses. For the full year 2024, annual SG&A was $2.318 billion.

Costs of Goods Sold (COGS) for pharmaceuticals and biologicals are managed for efficiency, leading to high gross margins. For the second quarter of 2025, the reported gross margin was 73.6%. The adjusted gross margin for Q2 2025 was slightly higher at 73.7%. This margin performance varies by segment, as seen in Q2 2025:

Metric	Q2 2025 Reported Margin	Q2 2025 Adjusted Margin
U.S. Segment Gross Margin	84.7%	N/A
International Segment Gross Margin	70.7%	N/A

The CFO noted that the Q2 2025 adjusted gross margin benefited from the favorable impact of the MFA divestiture and price increases, partially offset by higher manufacturing costs that were improving as they worked through inventory valued at prior year standards. The full-year 2025 guidance, as of February 2025, targeted adjusted cost of sales as a percentage of revenue around 28.0%.

Acquisition and divestiture-related costs are treated as significant items outside of core operating expenses. These costs fluctuate based on corporate activity. For the second quarter of 2025, the net impact of purchase accounting adjustments, acquisition and divestiture-related costs, and certain significant items excluded from adjusted net income totaled $65 million. This compares to $30 million in restructuring and A&D costs reported for Q2 2025, down from $42 million in the prior year period. For the third quarter of 2025, this exclusion amount was $33 million, and for the first quarter of 2025, it was $31 million.

You should keep an eye on how these non-core costs trend, as they can obscure the underlying operational cost discipline. Finance: draft 13-week cash view by Friday.

Zoetis Inc. (ZTS) - Canvas Business Model: Revenue Streams

You're looking at how Zoetis Inc. (ZTS) brings in the money, which is really about the mix of products they sell to pet owners versus the food animal industry, and where those sales happen globally. It's a dual focus that helps balance the business.

The company has set its financial expectations for the full year 2025. Full-year 2025 revenue guidance is projected to be between $9.400 billion and $9.475 billion. This guidance reflects an expected organic operational revenue growth of 5.5% to 6.5% for the full year 2025.

The revenue streams are clearly segmented by animal type, reflecting the core of the animal health market. Based on recent historical context, the split shows a strong leaning toward companion animals:

• Sales of Companion Animal Products (e.g., parasiticides, dermatology, pain management).
• Sales of Livestock Products (e.g., vaccines, anti-infectives, feed additives).
• Sales of Diagnostic Products and Genetic Tests.

To give you a sense of the product focus, in 2024, companion animals represented nearly 65% of total revenue, while production animals accounted for roughly 35%. You see this play out in the product focus, where key blockbuster products like Simparica Trio, Apoquel, and Cytopoint drove one-third of total revenue in 2024.

Revenue is geographically diversified across US and International segments. Looking at the third quarter of 2025 results, you can see the absolute dollar contribution from each major region:

Geographic Segment	Q3 2025 Reported Revenue	Q3 2025 Organic Operational Growth
US Segment	$1.3 billion	3% increase
International Segment	$1.1 billion	6% increase

The International segment showed stronger organic operational growth at 6% in Q3 2025 compared to the US segment's 3% organic growth for the same period. Still, the US segment generated $1.3 billion in revenue for that quarter.

Within those segments, the product performance varies. For instance, in the International segment for Q3 2025, sales of the company's innovative companion animal products grew 8% on a reported basis. Conversely, sales of livestock products in that same international segment declined 2% on a reported basis, largely due to the divestiture of the medicated feed additive portfolio and related assets.

The US segment saw companion animal sales flat for Q3 2025, even as gains in parasiticides, diagnostics, and dermatology treatments were noted. Finance: draft 13-week cash view by Friday.