Zoetis: Focusing On The High Margin Segments

Core Insights - The individual has extensive experience in financial markets, starting from 2007, with a background in economics and equity research [1] - The role as CFO for a holding company across various industries has provided valuable insights into company management and accounting practices [1] - The focus is on identifying high-quality companies with competitive advantages that can generate compounded cash flow at fair prices [1] Company Analysis - The investment strategy emphasizes profitable businesses operating in growing sectors with high returns on capital, expanding margins, and low debt [1] - Management's commitment is a key factor in evaluating potential investments, indicating a preference for companies where management has "skin in the game" [1] - A comprehensive analysis includes the company's business model, market dynamics, competition, financials, and management [1] Valuation Approach - Valuation measures such as multiples and discounted cash flow (DCF) analysis are applied to assess expected growth [1] - The investment approach is long-term, focusing on companies capable of deploying capital at high returns on invested capital (ROIC) for several years [1]