Who are Zoetis Inc.'s customers? Who does Zoetis Inc. earn revenue from?

Revenue comes from counterparties including Cencora, Inc., Covetrus. Full sourced list: valuechain.wiki/zoetis/customers.md

Who does Zoetis Inc. pay? Who are its key suppliers?

Costs flow to Trianni, Inc., SAP SE among others. Full sourced list: valuechain.wiki/zoetis/suppliers.md

Animal health medicines leader

Zoetis Inc.

Zoetis sells medicines, vaccines and diagnostics for companion animals and livestock to veterinarians and producers, using large animal-health distributors as an important route to market. It combines an internal manufacturing network with external manufacturing and spends on antibody-discovery technology and procurement infrastructure.

Business categories Pharmaceuticals & Biotechnology · Biopharma & Life Sciences · primary

ZTS Updated Sep 24, 2026 4 AI consumers· 2 recurring

Per the valuechain.wiki graph, Zoetis Inc. is directly linked to 2 companies (0 supply, 1 revenue, 1 investment relationships) and reaches 16 companies within two hops; the links are backed by 10 dated sources, 4 of them primary filings (as of 2026-09-24).

Annual return · 2026-10-09'21+48.3%'22-39.5%'23+35.9%'24-16.6%'25-21.8%YTD-39.6%

Money in ▸Cencora, Inc.◐Covetrus◐

Zoetis Inc.FY2025 total revenue of $9.467 billion

▸ Money outTrianni, Inc.●SAP SE●

Financials & Segments

Total revenue · FY2025 total revenue of $9.467 billion
Segments · United States · International · Contract manufacturing and human health

Revenue from

Cencora, Inc. Medium confidence
Cencora-owned MWI Animal Health distributes Zoetis products into the U.S. veterinary market. Zoetis disclosed that its largest U.S. veterinary distributor represented 16% of FY2025 revenue, but did not name that customer, so the 16% is not attributed to Cencora here.
Confirms EN SEC EDGAR Published Feb 12, 2026: Zoetis Inc. 2025 Annual Report on Form 10-K
Mentions KO ChoiceStock US Published Sep 17, 2025: Analysis: Zoetis, the Global Pet-Medicine Leader Spun Out of Pfizer
Confirms EN SEC EDGAR Published Jan 12, 2015: AmerisourceBergen Call to Discuss Acquisition of MWI Veterinary Supply
Confirms EN SEC EDGAR Published Nov 27, 2013: MWI Veterinary Supply, Inc. 2013 Annual Report on Form 10-K
Covetrus Medium confidence
Covetrus lists Zoetis livestock parasiticides, anti-infectives, vaccines and hormone products in its ordering catalog for veterinary customers. Transaction value by counterparty is not disclosed.
Mentions KO News1 Korea Published May 1, 2026: Zoetis Unveils Simparica Trio Campaign Featuring Shin Dong-yup
Confirms EN Covetrus Published Mar 1, 2020: Covetrus Livestock Preferred Product Guide

Pays to

Trianni, Inc. High confidence
Zoetis engaged Trianni's transgenic antibody-platform capabilities to support discovery of monoclonal antibody candidates for veterinary treatments. Financial terms were not disclosed.
Confirms EN Zoetis Published Jul 7, 2020: Trianni and Zoetis Announce Agreement to Develop a Transgenic Antibody Discovery Platform for Use in Animal Health
SAP SE High confidence
Zoetis runs ERP, purchase-order and electronic-invoicing workflows for its U.S. organization on SAP and the Ariba Supplier Network. Software fees are not disclosed.
Confirms EN Zoetis Published Mar 13, 2014: Zoetis U.S. Supplier Communication Letter

Investors

BlackRock, Inc. High confidence· Market share 9% · As of 2026-06-30 · BlackRock beneficial ownership of Zoetis
BlackRock reported beneficial ownership of 37,660,315 Zoetis shares, or 9.0%, as of June 30, 2026. The filing states that the shares were held in the ordinary course rather than to influence control.
Confirms EN SEC EDGAR Published Jul 30, 2026: BlackRock Schedule 13G/A for Zoetis Inc.

Investments

Veterinary Pathology Group High confidence
Zoetis acquired Veterinary Pathology Group, a veterinary diagnostic laboratory business in the U.K. and Ireland, in 2025 to expand diagnostics. The purchase price was not disclosed, and the transaction was not material to its financial statements.
Confirms EN SEC EDGAR Published Feb 12, 2026: Zoetis Inc. 2025 Annual Report on Form 10-K
Confirms EN Zoetis Published Nov 11, 2025: Zoetis Acquires Veterinary Pathology Group to Strengthen Veterinary Diagnostics in UK and Ireland

Value-chain ripple (2 tiers)

Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.

Company	Chain	'21	'22	'23	'24	'25	YTD
Cencora, Inc.	lead1	+44.1	+26.3	+25.3	+10.4	+51.5	-1.4
Zoetis Inc.	node	+48.3	-39.5	+35.9	-16.6	-21.8	-39.6
BlackRock	benef1	+29.4	-20.4	+17.9	+29.3	+6.6	+2.8
Marathon Petroleum Corporation	benef2	+61	+86.6	+30.5	-4.1	+19.2	+183
Targa Resources Corp.	benef2	+100.1	+43.7	+21	+110.1	+5.7	+59.5
Altria Group, Inc.	benef2	+24.2	+4.4	-3.7	+40.8	+18.2	+30.3
Ross Stores	benef2	-6	+2.9	+20.6	+10.4	+20.4	+28.6
ONEOK, Inc.	benef2	+64.7	+18.9	+13.2	+50.1	-22.9	+26.8
Elevance Health, Inc.	benef2	+46.1	+11.8	-6.9	-20.7	-3.1	+17.4
Old Dominion Freight Line, Inc.	benef2	+84.1	-20.5	+43.5	-12.5	-10.5	+16.5
Incyte Corporation	benef2	-15.6	+9.4	-21.8	+10	+43	+14.2
American Water Works	benef2	+24.8	-17.9	-11.7	-3.5	+7.4	+10.1
Edwards Lifesciences Corporation	benef2	+42	-42.4	+2.2	-2.9	+15.2	+5.5
Hubbell Incorporated	benef2	+35.6	+15.1	+42.4	+28.9	+7.4	+4.7
Microsoft	benef2	+52.5	-28	+58.2	+12.9	+15.6	+4
Edison International	benef2	+13.6	-2.6	+17.4	+15.2	-20.4	-1.7
Public Service Enterprise Group Incorporated	benef2	+18.3	-5.1	+3.6	+42.6	-1.9	-6.7

YTD as of 2026-10-09 · source: Yahoo Finance

Zoetis Inc. operates across Animal health medicines leader. It remained weak at -21.8% in 2025 and -38.8% in 2026. The demand side (avg -1.4%) leads the stock (-38.8%), so customer moves come first here. It combines an internal manufacturing network with external manufacturing and spends on antibody-discovery technology and procurement infrastructure.

Analysis generated from returns as of 2026-09-04

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