Zoetis down -50% over the past year

ZTS trades at 13x P/E with consistent 9% EPS growth, a rare combo in a high-quality, defensive subsector. A 50% drawdown has compressed valuation to levels not seen in years, creating a margin of safety for mean reversion. Buy a dominant animal pharma franchise at a cheap multiple with steady growth – classic value play. Slowing pet adoption/post-pandemic demand normalization, generic competition, regulatory changes in veterinary drugs, or negative currency effects.