Zoetis Inc (ZTS) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ZTS SEC filings page.
Zoetis Inc (ZTS) reported $9.5B in revenue over the twelve months to Jun 30, 2026, up 1.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Modest sales growth becomes faster earnings growth, while buybacks and borrowing reshape the capital structure.
In FY2025, net income rose7.5% while operating cash flow slipped1.7% , so earnings improved without a corresponding increase in cash generated from operations. Free cash flow held near$2.3B even as capital expenditures eased to$621M , implying the weaker cash result arose mainly before investment spending.
Revenue growth slowed to
Debt-to-equity rose from 1.1x to 2.6x, signaling a materially more leveraged structure. Buybacks reached
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Zoetis Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Zoetis Inc, and counted as zero in the overall score.
Zoetis Inc's revenue grew a modest 2.3% year-over-year to $9.5B. This slow but positive growth earns a score of 51/100.
Zoetis Inc has elevated debt relative to equity (D/E of 2.65), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 25/100, reflecting increased financial risk.
With a current ratio of 3.12, Zoetis Inc holds $3.12 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 80/100.
Zoetis Inc converts 24.1% of revenue into free cash flow ($2.3B). This strong cash generation earns a score of 89/100.
Not available for Zoetis Inc, and counted as zero in the overall score.
Zoetis Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Zoetis Inc generates $1.09 in operating cash flow ($2.9B OCF vs $2.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Zoetis Inc generated $2.5B in revenue in Q2 2026. This represents a decrease of 0.2% from the same quarter a year earlier. Against the prior quarter it is up 9.1%.
Zoetis Inc reported $691.0M in net income in Q2 2026. This represents a decrease of 4.8% from the same quarter a year earlier. Against the prior quarter it is up 15.0%.
Zoetis Inc earned $1.65 per diluted share (EPS) in Q2 2026. This represents an increase of 1.2% from the same quarter a year earlier. Against the prior quarter it is up 16.2%.
Not reported for Q2 2026.
Cash & Balance Sheet
Zoetis Inc generated $538.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 17.2% from the same quarter a year earlier. Against the prior quarter it is up 84.9%.
Zoetis Inc held $1.5B in cash against $9.0B in long-term debt as of Q2 2026.
Zoetis Inc paid $0.53 per share in dividends in Q2 2026. This represents an increase of 6.0% from the same quarter a year earlier. It is unchanged from the prior quarter.
Margins & Returns
Zoetis Inc's gross margin was 72.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.1 percentage points.
Zoetis Inc's net profit margin was 28.0% in Q2 2026, showing the share of revenue converted to profit. This is down 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.4 percentage points.
Zoetis Inc's ROE was 21.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 7.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.4 percentage points.
Not reported for Q2 2026.
Capital Allocation
Zoetis Inc invested $173.0M in research and development in Q2 2026. This represents an increase of 4.2% from the same quarter a year earlier. Against the prior quarter it is down 3.9%.
Zoetis Inc spent $584.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 72.8% from the same quarter a year earlier. Against the prior quarter it is down 3.6%.
Zoetis Inc invested $117.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 19.9% from the same quarter a year earlier. Against the prior quarter it is up 6.4%.
ZTS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.5B-0.2% | $2.3B+2.9% | $2.4B+3.4% | $2.4B+0.5% | $2.5B+4.8% | $2.2B+0.4% | $2.3B+4.7% | $2.4B+11.0% |
| Cost of Revenue | $673.0M+1.4% | $641.0M+3.7% | $701.0M-0.8% | $683.0M-2.6% | $664.0M-0.6% | $618.0M-3.9% | $707.0M-2.9% | $701.0M+9.9% |
| Gross Profit | $1.8B-0.8% | $1.6B+2.6% | $1.7B+5.2% | $1.7B+1.8% | $1.8B+6.9% | $1.6B+2.1% | $1.6B+8.4% | $1.7B+11.5% |
| R&D Expenses | $173.0M+4.2% | $180.0M+11.1% | $200.0M+7.5% | $170.0M+1.8% | $166.0M-2.9% | $162.0M0.0% | $186.0M+6.9% | $167.0M+9.9% |
| SG&A Expenses | $592.0M-3.6% | $588.0M+2.4% | $611.0M-2.2% | $579.0M+2.5% | $614.0M+5.7% | $574.0M+4.9% | $625.0M+10.6% | $565.0M+7.6% |
| Interest Expense | $61.0M+15.1% | $62.0M+14.8% | $57.0M+11.8% | $58.0M+1.8% | $53.0M-10.2% | $54.0M-6.9% | $51.0M-13.6% | $57.0M-3.4% |
| Income Tax | $175.0M-5.9% | $157.0M-8.2% | $164.0M+8.6% | $166.0M-8.8% | $186.0M+19.2% | $171.0M+15.5% | $151.0M+18.9% | $182.0M+50.4% |
| Net Income | $691.0M-4.8% | $601.0M-0.2% | $624.0M+7.4% | $721.0M+5.7% | $726.0M+16.3% | $602.0M+0.5% | $581.0M+10.7% | $682.0M+14.4% |
| EPS (Basic) | $1.65+1.2% | $1.42+6.0% | $1.38+7.0% | $1.63+7.9% | $1.63+19.0% | $1.34+2.3% | $1.29+13.2% | $1.51+17.1% |
| EPS (Diluted) | $1.65+1.2% | $1.42+6.0% | $1.37+6.2% | $1.63+8.7% | $1.63+19.0% | $1.34+2.3% | $1.29+13.2% | $1.50+16.3% |
| Diluted Shares (Avg) | 418M-6.2% | 422M-5.7% | N/A | 443M-2.3% | 446M-2.3% | 448M-2.4% | N/A | 454M-1.7% |
Not reported in any period shown, so not listed: Operating Income, EBITDA.
ZTS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $15.1B+4.1% | $15.2B+7.5% | $15.5B+8.8% | $15.2B+5.6% | $14.5B+2.2% | $14.1B-1.7% | $14.2B-0.3% | $14.4B+1.8% |
| Current Assets | $6.4B+7.3% | $6.5B+10.2% | $6.8B+13.1% | $6.6B+4.8% | $5.9B-4.5% | $5.9B-7.6% | $6.0B-5.6% | $6.3B+1.0% |
| Cash & Equivalents | $1.5B+2.9% | $1.9B+12.8% | $2.5B+23.3% | $2.1B+21.6% | $1.4B-8.8% | $1.7B-12.9% | $2.0B-2.6% | $1.7B-2.3% |
| Short-Term Investments | $200.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $2.6B+5.5% | $2.5B+7.8% | $2.5B+6.9% | $2.5B+2.0% | $2.4B-0.5% | $2.4B-10.8% | $2.3B-10.1% | $2.4B-12.0% |
| Accounts Receivable | $1.6B+2.0% | $1.5B+10.7% | $1.4B+7.1% | $1.5B+9.2% | $1.5B+11.4% | $1.4B+5.3% | $1.3B+0.9% | $1.4B+12.3% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $2.8B+0.5% | $2.8B+2.3% | $2.8B+1.8% | $2.8B+0.7% | $2.8B+0.7% | $2.7B-1.6% | $2.7B-1.3% | $2.7B-0.7% |
| Total Liabilities | $11.9B+25.5% | $11.9B+26.2% | $12.1B+27.5% | $9.8B+7.0% | $9.5B+3.2% | $9.4B+1.6% | $9.5B+1.9% | $9.1B+1.0% |
| Current Liabilities | $2.1B-38.8% | $2.1B-39.4% | $2.2B-36.3% | $1.8B+6.2% | $3.4B+87.3% | $3.4B+77.3% | $3.4B+80.6% | $1.7B+5.8% |
| Non-Current Liabilities | $9.9B+60.8% | $9.9B+62.9% | $9.9B+63.5% | $8.0B+7.2% | $6.1B-17.2% | $6.1B-18.0% | $6.1B-18.2% | $7.4B0.0% |
| Long-Term Debt | $9.0B+73.0% | $9.0B+73.0% | $9.0B+73.2% | $7.1B+7.5% | $5.2B-20.3% | $5.2B-20.3% | $5.2B-20.5% | $6.6B+0.3% |
| Total Equity | $3.1B-36.7% | $3.2B-30.5% | $3.4B-28.4% | $5.4B+3.1% | $5.0B+0.2% | $4.7B-8.0% | $4.8B-4.5% | $5.2B+3.1% |
| Retained Earnings | $14.7B+13.8% | $14.2B+14.6% | $13.8B+15.3% | $13.6B+15.1% | $12.9B+15.7% | $12.4B+15.7% | $12.0B+16.3% | $11.8B+16.4% |
ZTS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $655.0M+8.3% | $401.0M-22.1% | $893.0M-1.3% | $891.0M-6.3% | $605.0M+20.5% | $515.0M-13.4% | $905.0M+0.9% | $951.0M+31.4% |
| Depreciation & Amortization | $119.0M-4.0% | $119.0M0.0% | $121.0M-1.6% | $124.0M+2.5% | $124.0M-2.4% | $119.0M-5.6% | $123.0M-2.4% | $121.0M-2.4% |
| Stock-Based Compensation | $26.0M+18.2% | $25.0M+47.1% | N/A | $22.0M+22.2% | $22.0M+15.8% | $17.0M-5.6% | N/A | $18.0M+5.9% |
| Capital Expenditures | $117.0M-19.9% | $110.0M-38.2% | $161.0M-25.5% | $136.0M-18.6% | $146.0M+10.6% | $178.0M+27.1% | $216.0M+9.1% | $167.0M+15.2% |
| Free Cash Flow | $538.0M+17.2% | $291.0M-13.6% | $732.0M+6.2% | $755.0M-3.7% | $459.0M+24.1% | $337.0M-25.9% | $689.0M-1.4% | $784.0M+35.4% |
| Investing Cash Flow | -$300.0M-41.5% | -$87.0M+57.1% | -$166.0M-231.7% | -$167.0M+6.2% | -$212.0M-60.6% | -$203.0M-55.0% | $126.0M+160.0% | -$178.0M+34.3% |
| Financing Cash Flow | -$813.0M-44.1% | -$840.0M-24.1% | -$495.0M+33.6% | -$134.0M+78.7% | -$564.0M+26.1% | -$677.0M-29.2% | -$745.0M-87.7% | -$628.0M-51.0% |
| Share Buybacks | $584.0M+72.8% | $606.0M+36.8% | $2.1B+272.5% | $394.0M-9.0% | $338.0M-36.6% | $443.0M+30.7% | $553.0M+135.3% | $433.0M+73.2% |
Not reported in any period shown, so not listed: Dividends Paid.
ZTS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.7%-0.4pp | 71.7%-0.2pp | 70.7%+1.2pp | 71.5%+0.9pp | 73.2%+1.5pp | 71.9%+1.2pp | 69.5%+2.4pp | 70.6%+0.3pp |
| Net Margin | 28.0%-1.3pp | 26.6%-0.8pp | 26.1%+1.0pp | 30.0%+1.5pp | 29.3%+2.9pp | 27.4%0.0pp | 25.1%+1.4pp | 28.6%+0.9pp |
| Return on Equity | 21.9%+7.4pp | 18.6%+5.7pp | 18.3%+6.1pp | 13.4%+0.3pp | 14.6%+2.0pp | 12.9%+1.1pp | 12.2%+1.7pp | 13.0%+1.3pp |
| Return on Assets | 4.6%-0.4pp | 4.0%-0.3pp | 4.0%-0.1pp | 4.8%0.0pp | 5.0%+0.6pp | 4.3%+0.1pp | 4.1%+0.4pp | 4.8%+0.5pp |
| Current Ratio | 3.08+1.3x | 3.15+1.4x | 3.12+1.4x | 3.640.0x | 1.76-1.7x | 1.74-1.6x | 1.75-1.6x | 3.69-0.2x |
| Debt-to-Equity | 2.87+1.8x | 2.80+1.7x | 2.65+1.6x | 1.31+0.1x | 1.05-0.3x | 1.12-0.2x | 1.09-0.2x | 1.260.0x |
| Asset Turnover | 0.160.0x | 0.150.0x | 0.150.0x | 0.160.0x | 0.170.0x | 0.160.0x | 0.160.0x | 0.170.0x |
| FCF Margin | 21.8%+3.3pp | 12.9%-2.5pp | 30.6%+0.8pp | 31.5%-1.4pp | 18.6%+2.9pp | 15.3%-5.5pp | 29.7%-1.9pp | 32.8%+5.9pp |
Not reported in any period shown, so not listed: Operating Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Zoetis Inc ZTS | FY2025 | $9.5B | $2.7B | 28.2% | $30.1B | 41/100 |
| Teva Pharm TEVA | FY2025 | $17.3B | $1.4B | 8.2% | $42.9B | 34/100 |
| United Therapeutics Corp. UTHR | FY2025 | $3.2B | $1.3B | 41.9% | $21.7B | 88/100 |
| Viatris Inc VTRS | FY2025 | $14.3B | -$3.5B | -24.6% | $19.0B | 28/100 |
Where Zoetis Inc Ranks
Frequently Asked Questions
What is Zoetis Inc's annual revenue?
Zoetis Inc (ZTS) reported $9.5B in total revenue for fiscal year 2025. This represents a 2.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Zoetis Inc's revenue growing?
Zoetis Inc (ZTS) revenue grew by 2.3% year-over-year, from $9.3B to $9.5B in fiscal year 2025.
Is Zoetis Inc profitable?
Yes, Zoetis Inc (ZTS) reported a net income of $2.7B in fiscal year 2025, with a net profit margin of 28.2%.
How much debt does Zoetis Inc have?
As of fiscal year 2025, Zoetis Inc (ZTS) had $2.5B in cash and equivalents against $9.0B in long-term debt.
What is Zoetis Inc's gross margin?
Zoetis Inc (ZTS) had a gross margin of 71.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Zoetis Inc's net profit margin?
Zoetis Inc (ZTS) had a net profit margin of 28.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Zoetis Inc pay dividends?
Yes, Zoetis Inc (ZTS) paid $2.03 per share in dividends during fiscal year 2025.
What is Zoetis Inc's return on equity (ROE)?
Zoetis Inc (ZTS) has a return on equity of 78.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Zoetis Inc's free cash flow?
Zoetis Inc (ZTS) generated $2.3B in free cash flow during fiscal year 2025. This represents a -0.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Zoetis Inc's operating cash flow?
Zoetis Inc (ZTS) generated $2.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Zoetis Inc's total assets?
Zoetis Inc (ZTS) had $15.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Zoetis Inc's capital expenditures?
Zoetis Inc (ZTS) invested $621.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Zoetis Inc spend on research and development?
Zoetis Inc (ZTS) invested $698.0M in research and development during fiscal year 2025.
What is Zoetis Inc's current ratio?
Zoetis Inc (ZTS) had a current ratio of 3.12 as of fiscal year 2025, which is generally considered healthy.
What is Zoetis Inc's debt-to-equity ratio?
Zoetis Inc (ZTS) had a debt-to-equity ratio of 2.65 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Zoetis Inc's return on assets (ROA)?
Zoetis Inc (ZTS) had a return on assets of 17.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Zoetis Inc's P/E ratio?
Zoetis Inc (ZTS) trades at 11.4x earnings, its market capitalization divided by net income of $2.6B net income, trailing 12 months to June 30, 2026. The market capitalization is $30.1B as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Zoetis Inc's price-to-sales ratio?
Zoetis Inc (ZTS) trades at 3.2x sales, its market capitalization divided by revenue of $9.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $30.1B as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Zoetis Inc's Piotroski F-Score?
Zoetis Inc (ZTS) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Zoetis Inc's earnings high quality?
Zoetis Inc (ZTS) has an earnings quality ratio of 1.09x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Zoetis Inc?
Zoetis Inc (ZTS) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.