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Zoetis (ZTS)

NYSE Health Care Pharmaceuticals S&P 500
$79.40
-2.71 (-3.30%)
Close of Nov 06, 2026 · end-of-day data
Source: Zoetis's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$4.89B$5.31B$5.83B$6.26B$6.67B$7.78B$8.08B$8.54B$9.26B$9.47B
Cost of revenue$1.67B$1.77B$1.91B$1.99B$2.06B$2.30B$2.45B$2.56B$2.72B$2.67B
Gross profit$3.22B$3.53B$3.91B$4.27B$4.62B$5.47B$5.63B$5.98B$6.54B$6.80B
Research & development$376.00M$382.00M$432.00M$457.00M$463.00M$508.00M$539.00M$614.00M$686.00M$698.00M
Selling, general & admin$1.36B$1.33B$1.48B$1.64B$1.73B$2.00B$2.01B$2.15B$2.32B$2.38B
Interest expense$166.00M$175.00M$206.00M$223.00M$231.00M$224.00M$221.00M$239.00M$225.00M$222.00M
Pre-tax income$1.23B$1.52B$1.69B$1.80B$2.00B$2.49B$2.66B$2.94B$3.13B$3.36B
Income tax$409.00M$663.00M$266.00M$301.00M$360.00M$454.00M$545.00M$596.00M$637.00M$687.00M
Net income$821.00M$864.00M$1.43B$1.50B$1.64B$2.04B$2.11B$2.34B$2.49B$2.67B
EPS (basic)$1.66$1.76$2.96$3.14$3.44$4.29$4.51$5.08$5.47$6.03
EPS (diluted)$1.65$1.75$2.93$3.11$3.42$4.27$4.49$5.07$5.47$6.02
Diluted shares498.23M493.16M486.90M481.79M478.57M476.72M470.38M462.27M454.85M443.83M
Gross margin65.9%66.6%67.2%68.2%69.2%70.4%69.6%70.0%70.6%71.8%
Net margin16.8%16.3%24.5%24.0%24.5%26.2%26.2%27.4%26.9%28.2%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$727.00M$1.56B$1.60B$1.93B$3.60B$3.48B$3.58B$2.04B$1.99B$2.45B
Short-term investments—$0$99.00M$0—————$0
Receivables$913.00M$998.00M$1.04B$1.09B$1.01B$1.13B$1.22B$1.30B$1.32B$1.41B
Inventory$1.50B$1.43B$1.39B$1.41B$1.63B$1.92B$2.35B$2.56B$2.31B$2.46B
Total current assets$3.39B$4.22B$4.40B$4.75B$6.61B$6.93B$7.51B$6.34B$5.99B$6.77B
Goodwill$1.48B$1.51B$2.52B$2.59B$2.69B$2.68B$2.75B$2.76B$2.72B$2.77B
Total assets$7.65B$8.59B$10.78B$11.54B$13.61B$13.90B$14.93B$14.29B$14.24B$15.49B
Total current liabilities$1.12B$1.09B$1.22B$1.81B$2.17B$1.80B$3.17B$1.89B$3.41B$2.17B
Short-term debt$0$0$0$500.00M$600.00M$0$1.35B$0$1.35B$0
Long-term debt$4.47B$4.95B$6.44B$5.95B$6.59B$6.59B$6.55B$6.56B$5.22B$9.04B
Total debt$4.47B$4.95B$6.44B$6.45B$7.20B$6.59B$7.90B$6.56B$6.57B$9.04B
Total liabilities$6.15B$6.80B$8.59B$8.84B$9.84B$9.36B$10.52B$9.29B$9.47B$12.07B
Shareholders' equity$1.49B$1.77B$2.19B$2.71B$3.77B$4.54B$4.41B$5.00B$4.77B$3.42B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$713.00M$1.35B$1.79B$1.79B$2.13B$2.21B$1.91B$2.35B$2.95B$2.90B
Capital expenditures$216.00M$224.00M$338.00M$460.00M$453.00M$477.00M$586.00M$732.00M$655.00M$621.00M
Free cash flow$497.00M$1.12B$1.45B$1.33B$1.67B$1.74B$1.33B$1.62B$2.30B$2.28B
Investing cash flow-$214.00M-$270.00M-$2.26B-$504.00M-$572.00M-$458.00M-$883.00M-$777.00M-$315.00M-$748.00M
Financing cash flow-$903.00M-$251.00M$533.00M-$951.00M$123.00M-$1.86B-$904.00M-$3.11B-$2.66B-$1.87B
Share buybacks$300.00M$500.00M$698.00M$626.00M$250.00M$743.00M$1.59B$1.09B$1.86B$3.23B
Stock-based compensation$37.00M$44.00M$53.00M$67.00M$59.00M$58.00M$62.00M$60.00M$74.00M$83.00M
Depreciation & amortization$240.00M$242.00M$308.00M$412.00M$441.00M$448.00M$465.00M$491.00M$497.00M$487.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.