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Animal health

The 7 companies in this industry listed on the NYSE and Nasdaq are worth $93 bn combined; the largest are IDEXX Laboratories (IDXX), Zoetis (ZTS) and Elanco Animal Health (ELAN). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Comfortable leader
7 companies value 93 bn revenue 22 bn margin 16.8% free cash flow 4.0 bn avg. score 4.0
IDXX holds 47.2% of the group's value, 1.3x the runner-up · ZTS leads the industry without being the largest
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 IDXX IDEXX Laboratories
United States · score 6.7
47% 44 bn 4.5 bn 25.0% 1.3 bn 2.9% — Veterinary diagnostics and instruments for clinics · Dominates veterinary diagnostics with a recurring consumables model
2 ZTS Zoetis
United States · score 6.4
36% 33 bn 9.5 bn 27.7% 2.3 bn 7.0% — Animal medicines and vaccines · World's largest animal health company
3 ELAN Elanco Animal Health
United States · score 2.0
13% 12 bn 5.0 bn -4.0% 0.4 bn 3.2% — Medicines and vaccines for farm animals and pets · 2nd largest in animal health; spun off from Eli Lilly
4 NEOG NEOGEN CORP
United States · score 1.2
3% 2.5 bn 0.9 bn -6.3% 0.1 bn 2.0% — Food safety and animal health products and services · Michigan — revenue of $884m
5 PAHC PHIBRO ANIMAL HEALTH CORP
United States · score 4.1
2% 1.6 bn 1.5 bn 6.6% 0.0 bn 0.6% 1.2% Animal health and mineral nutrition · New Jersey — revenue of $1.5bn
6 ICCC IMMUCELL CORP /DE/
United States · score 4.7
0% 0.1 bn 0.0 bn 2.6% 0.0 bn 4.4% — Biological products for animal health, since 1982 · Maine — revenue of $31m
7 ZYBT Zhengye Biotechnology Holding Ltd
China · score 3.1
0% 0.1 bn 0.0 bn -60.0% 0.0 bn 2.6% 3.2% Veterinary vaccines, from China · China — revenue of $17m

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What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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