Innoviva or Zoetis: Which Stock Has More Upside?
Zoetis fell -21% during the past Month. You may be tempted to buy more, or may want to reduce your exposure. But there is an entirely different perspective you might be missing. Is there a better alternative? Turns out, its peer Innoviva gives you more. Innoviva (INVA) stock offers superior revenue growth across key periods, better profitability, and relatively lower valuation vs Zoetis (ZTS) stock, suggesting you may be better off investing in INVA
- INVA’s quarterly revenue growth was 20.4%, vs. ZTS’s 0.5%.
- In addition, its Last 12 Months revenue growth came in at 10.1%, ahead of ZTS’s 2.7%.
- INVA leads on profitability over both periods – LTM margin of 43.2% and 3-year average of 41.2%.
These differences become even clearer when you look at the financials side by side. The table highlights how ZTS’s fundamentals stack up against those of INVA on growth, margins, momentum, and valuation multiples.
Valuation & Performance Overview
| ZTS | INVA | Preferred | |
|---|---|---|---|
| Valuation | |||
| P/EBIT Ratio | 14.5 | 8.7 | INVA |
| Revenue Growth | |||
| Last Quarter | 0.5% | 20.4% | INVA |
| Last 12 Months | 2.7% | 10.1% | INVA |
| Last 3 Year Average | 5.5% | 3.1% | ZTS |
| Operating Margins | |||
| Last 12 Months | 37.6% | 43.2% | INVA |
| Last 3 Year Average | 36.8% | 41.2% | INVA |
| Momentum | |||
| Last 3 Year Return | -17.8% | 56.2% | INVA |
Note: For “Last 3 Year Return” metric, preferred stock is one with higher returns unless the returns are too high (>300%) which creates risk of sell off.
See more revenue details: ZTS Revenue Comparison | INVA Revenue Comparison
See more margin details: ZTS Operating Income Comparison | INVA Operating Income Comparison
See detailed fundamentals on Buy or Sell INVA Stock and Buy or Sell ZTS Stock. Below we compare market return and related metrics across years.
Historical Market Performance
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | Avg | Best | |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| ZTS Return | 26% | 48% | -40% | 36% | -17% | -28% | -8% | ||
| INVA Return | -12% | 39% | -23% | 21% | 8% | 22% | 49% | ||
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 11% | 102% | <=== | |
| Monthly Win Rates [3] | |||||||||
| ZTS Win Rate | 67% | 83% | 33% | 67% | 50% | 30% | 55% | ||
| INVA Win Rate | 33% | 58% | 33% | 50% | 50% | 60% | 48% | ||
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | 64% | <=== | |
| Max Drawdowns [4] | |||||||||
| ZTS Max Drawdown | -30% | -13% | -46% | -1% | -26% | -26% | -23% | ||
| INVA Max Drawdown | -43% | -11% | -33% | -19% | -10% | -4% | -20% | ||
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | -12% | <=== | |
[1] Cumulative total returns since the beginning of 2020
[2] 2025 data is for the year up to 11/20/2025 (YTD)
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
No matter how good the numbers, stock investment is never a smooth ride. There is a risk you must factor in. Read INVA Dip Buyer Analyses and ZTS Dip Buyer Analyses to see how these stocks have fallen and recovered in the past.
Still not sure about ZTS or INVA? Consider portfolio approach.
Why Stock Pickers Win More With Multi Asset Portfolios
Single markets are unpredictable but different assets react differently. A multi asset portfolio cuts downside shocks while keeping upside on the table.
The asset allocation framework of Trefis’ Boston-based, wealth management partner yielded positive returns during the 2008-09 period when the S&P lost more than 40%. Our partner’ strategy now includes Trefis High Quality Portfolio, which has a track record of comfortably outperforming its benchmark that includes all 3 – the S&P 500, S&P mid-cap, and Russell 2000 indices