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Zoetis DCF Stock Analysis

Here’s my assumptions:

Risk Free Rate (10 Years Interest Rate Swap): 3.82%

Risk Premium (Taken from the Aswath Damodaran equity premium spreadsheet): 4.33%

Interest Rate Spread on The Risk free rate ( For the cost of debt calculation): 4.5%

Historical Data

Revenue growth in the last 10 years (CAGR): 6.87%

Earnings growth in the last 10 years (CAGR): 22.05%

Unlevered Free Cash Flow growth in the last 10 years (CAGR): 9.6%

Future Assumptions

End of Year FCF growth: 5%

Growth until end of 2026: 10%

Growth until end of 2034: 5%

Perpetual growth: 3.1%

Net Debt: 5.365B

Outstanding Stock Options Present Value Assumption: $0.014B

Restricted Stock Units + Performance Stock Units Present Value Assumption: $0.124B

Stock Valuation based on these assumptions: $182

Last update 09/07/2025

All the content in this newsletter should be taken as informational content only. THIS IS NOT FINANCIAL ADVICE! Do your own Due Diligence before investing or contact a professional financial advisor.

I don’t have a position in Zoetis (ZTS) and I don’t plan to add a position in the coming days.