Financials · ZTS

Zoetis Inc. (ZTS) financials

For the twelve months ended Sep 30, 2026, Zoetis Inc. reported $9.49B of revenue and $2.51B of net income.

Revenue, TTM
$9.49B
Revenue growth, YoY
+0.9%
Net income, TTM
$2.51B
Net income growth, YoY
-4.7%
Net margin
26.4%
Free cash flow, TTM
$2.23B
EPS, diluted, TTM
$5.93
EPS growth, YoY
+0.7%
Cash
$1.33B
Total debt
$9.05B
P/E
13.34
P/S
3.52
Market cap
$33.45B
Annual revenue$9.47B
FY2016FY2025
Annual net income$2.67B
FY2016FY2025
Annual free cash flow$2.28B
FY2016FY2025

ZTS revenue and earnings growth

ZTS revenueQ3 2026$2.39B

Quarter YoY
-1.3%
QoQ
-3.1%
FY YoY
+2.3%
5Y CAGR
+7.2%
10Y CAGR
+7.1%

ZTS revenue was $2.39B in fiscal Q3 2026 (ended Sep 30, 2026), down 1.3% from a year earlier and down 3.1% from the prior quarter. For the full fiscal 2025 it was $9.47B, up 2.3% from fiscal 2024. Compound annual growth was +7.2% over 5 years and +7.1% over 10 years. It rose in each of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

ZTS net incomeQ3 2026$591.00M

Quarter YoY
-18.0%
QoQ
-14.5%
FY YoY
+7.5%
5Y CAGR
+10.3%
10Y CAGR
+22.9%

ZTS net income was $591.00M in fiscal Q3 2026 (ended Sep 30, 2026), down 18.0% from a year earlier and down 14.5% from the prior quarter. For the full fiscal 2025 it was $2.67B, up 7.5% from fiscal 2024. Compound annual growth was +10.3% over 5 years and +22.9% over 10 years. It rose in each of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

ZTS EPSQ3 2026$1.44

Quarter YoY
-11.7%
QoQ
-12.7%
FY YoY
+10.1%
5Y CAGR
+12.0%
10Y CAGR
+24.4%

ZTS diluted EPS was $1.44 in fiscal Q3 2026 (ended Sep 30, 2026), down 11.7% from a year earlier and down 12.7% from the prior quarter. For the full fiscal 2025 it was $6.02, up 10.1% from fiscal 2024. Compound annual growth was +12.0% over 5 years and +24.4% over 10 years.

ZTS free cash flowQ3 2026$717.00M

Quarter YoY
-10.2%
QoQ
+33.3%
FY YoY
-0.7%
5Y CAGR
+6.4%
10Y CAGR
+17.9%

ZTS free cash flow was $717.00M in fiscal Q3 2026 (ended Sep 30, 2026), down 10.2% from a year earlier and up 33.3% from the prior quarter. For the full fiscal 2025 it was $2.28B, down 0.7% from fiscal 2024. Compound annual growth was +6.4% over 5 years and +17.9% over 10 years. It rose in 7 of the last 10 fiscal years.

Export CSV

Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$9.47B$9.26B$8.54B$8.08B$7.78B$6.67B$6.26B$5.83B$5.31B$4.89B
Cost of revenue$2.67B$2.72B$2.56B$2.45B$2.30B$2.06B$1.99B$1.91B$1.77B$1.67B
Gross profit$6.80B$6.54B$5.98B$5.63B$5.47B$4.62B$4.27B$3.91B$3.53B$3.22B
Research and development$698.00M$686.00M$614.00M$539.00M$508.00M$463.00M$457.00M$432.00M$382.00M$376.00M
Selling, general and admin$2.38B$2.32B$2.15B$2.01B$2.00B$1.73B$1.64B$1.48B$1.33B$1.36B
Interest expense$222.00M$225.00M$239.00M$221.00M$224.00M$231.00M$223.00M$206.00M$175.00M$166.00M
Pre-tax income$3.36B$3.13B$2.94B$2.66B$2.49B$2.00B$1.80B$1.69B$1.52B$1.23B
Income tax$687.00M$637.00M$596.00M$545.00M$454.00M$360.00M$301.00M$266.00M$663.00M$409.00M
Net income$2.67B$2.49B$2.34B$2.11B$2.04B$1.64B$1.50B$1.43B$864.00M$821.00M
EPS, basic$6.03$5.47$5.08$4.51$4.29$3.44$3.14$2.96$1.76$1.66
EPS, diluted$6.02$5.47$5.07$4.49$4.27$3.42$3.11$2.93$1.75$1.65
Diluted shares443.8M454.8M462.3M470.4M476.7M478.6M481.8M486.9M493.2M498.2M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$2.45B$2.11B$2.04B$3.58B$3.48B$3.60B$1.93B$1.60B$1.56B$727.00M
Short-term investments$0-----$0$99.00M$0-
Receivables$1.41B$1.32B$1.30B$1.22B$1.13B$1.01B$1.09B$1.04B$998.00M$913.00M
Inventory$2.46B$2.31B$2.56B$2.35B$1.92B$1.63B$1.41B$1.39B$1.43B$1.50B
Current assets$6.77B$5.99B$6.34B$7.51B$6.93B$6.61B$4.75B$4.40B$4.22B$3.39B
Goodwill$2.77B$2.72B$2.76B$2.75B$2.68B$2.69B$2.59B$2.52B$1.51B$1.48B
Total assets$15.49B$14.24B$14.29B$14.93B$13.90B$13.61B$11.54B$10.78B$8.59B$7.65B
Current liabilities$2.17B$3.41B$1.89B$3.17B$1.80B$2.17B$1.81B$1.22B$1.09B$1.12B
Short-term debt$0$1.35B$0$1.35B$0$600.00M$500.00M$0$0$0
Long-term debt$9.04B$5.22B$6.56B$6.55B$6.59B$6.59B$5.95B$6.44B$4.95B$4.47B
Total debt$9.04B$6.57B$6.56B$7.90B$6.59B$7.20B$6.45B$6.44B$4.95B$4.47B
Total liabilities$12.07B$9.47B$9.29B$10.52B$9.36B$9.84B$8.84B$8.59B$6.80B$6.15B
Shareholders' equity$3.42B$4.84B$4.99B$4.40B$4.54B$3.77B$2.71B$2.19B$1.79B$1.50B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$2.90B$2.95B$2.35B$1.91B$2.21B$2.13B$1.79B$1.79B$1.35B$713.00M
Capital expenditures$621.00M$655.00M$732.00M$586.00M$477.00M$453.00M$460.00M$338.00M$224.00M$216.00M
Free cash flow$2.28B$2.30B$1.62B$1.33B$1.74B$1.67B$1.33B$1.45B$1.12B$497.00M
Investing cash flow-$748.00M-$315.00M-$777.00M-$883.00M-$458.00M-$572.00M-$504.00M-$2.26B-$270.00M-$214.00M
Financing cash flow-$1.87B-$2.66B-$3.11B-$904.00M-$1.86B$123.00M-$951.00M$533.00M-$251.00M-$903.00M
Share repurchases$3.23B$1.86B$1.09B$1.59B$743.00M$250.00M$626.00M$698.00M$500.00M$300.00M
Stock-based compensation$83.00M$74.00M$60.00M$62.00M$58.00M$59.00M$67.00M$53.00M$44.00M$37.00M
Depreciation and amortization$487.00M$497.00M$491.00M$465.00M$448.00M$441.00M$412.00M$308.00M$242.00M$240.00M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY2.3%8.3%5.7%3.9%16.5%6.6%7.5%9.8%8.6%2.6%
Net income growth, YoY7.5%6.1%10.9%3.8%24.4%9.2%5.0%65.3%5.2%142.2%
EPS growth, YoY10.1%7.9%12.9%5.2%24.9%10.0%6.1%67.4%6.1%142.6%
Gross margin71.8%70.6%70.0%69.6%70.4%69.2%68.2%67.2%66.6%65.9%
Net margin28.2%26.9%27.4%26.2%26.2%24.5%24.0%24.5%16.3%16.8%
Free cash flow margin24.1%24.8%19.0%16.4%22.3%25.1%21.3%24.9%21.1%10.2%
Return on equity78.3%51.3%47.0%48.0%44.8%43.4%55.4%65.4%48.4%54.8%
Return on assets17.3%17.5%16.4%14.2%14.7%12.0%13.0%13.3%10.1%10.7%
Current ratio3.121.753.362.373.863.052.633.603.853.03
Debt to equity2.651.361.321.791.451.912.382.952.772.98

Source: XBRL data Zoetis Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

ZTS peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
ZTS$9.49B+0.9%$2.51B26.4%$33.45B
LLY$86.46B+45.5%$27.58B31.9%$1.33T
JNJ$99.33B+7.8%$16.09B16.2%$679.13B
ABBV$66.01B+10.7%$10.34B15.7%$518.44B
MRK$67.38B+4.9%$2.45B3.6%$366.73B
NVS$54.53B+8.4%$13.98B25.6%$312.35B
AZN$58.74B+8.6%$10.22B17.4%$293.69B
ABT$48.23B+10.0%$4.70B9.7%$191.40B
NVODKK 309.06B+6.4%DKK 102.43B33.1%$183.23B

ZTS FAQ

9 questions
  • What is ZTS revenue?
    Zoetis Inc. (ZTS) reported $9.49B of revenue for the twelve months ended Sep 30, 2026. That is up 0.9% from the year before. Revenue for fiscal 2025 was $9.47B.
  • Is ZTS profitable?
    Yes. Zoetis Inc. earned $2.51B in net income for the twelve months ended Sep 30, 2026, a net margin of 26.4%.
  • How much cash and debt does ZTS have?
    Zoetis Inc. reported $1.33B in cash and cash equivalents and $9.05B of debt on its most recent balance sheet in SEC filings.
  • How fast is ZTS revenue growing?
    Zoetis Inc.'s revenue changed +2.3% in fiscal 2025, to $9.47B. Its compound annual growth rate was +7.2% over 5 years and +7.1% over 10 years.
  • What is ZTS gross margin?
    Zoetis Inc.'s gross profit was $6.79B on $9.49B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 71.6%.
  • What is ZTS free cash flow?
    Zoetis Inc. generated $2.23B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $2.73B less capital expenditures.
  • What is ZTS earnings per share?
    Diluted earnings per share were $5.93 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did ZTS last report financial results?
    The latest statements here come from Zoetis Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this ZTS financial data come from?
    Quantisnow builds these statements from the structured XBRL data Zoetis Inc. files with the SEC. It is provided for information only and is not investment advice.