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Zoetis (ZTS) | Financial Analysis & Statements

Zoetis Inc. | Large-cap | Healthcare

$167.10

1.51%

Zoetis vs Haleon Plc - ADR Zoetis vs Intra-Cellular Zoetis vs United Therapeutics Zoetis vs Neurocrine Zoetis vs Viatris Zoetis vs S&P 500 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Mar 2025

Income Metrics

Revenue 2.2B

Gross Profit 1.6B 71.98%

Operating Income 846.0M 38.11%

Net Income 631.0M 28.42%

EPS (Diluted) $1.41

Balance Sheet Metrics

Total Assets 14.1B

Total Liabilities 9.4B

Shareholders Equity 4.7B

Debt to Equity 2.03

Cash Flow Metrics

Operating Cash Flow 567.0M

Free Cash Flow 438.0M

Revenue & Profitability Trend

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This page uses interactive financial charts and dynamic data visualization tools that require JavaScript. For detailed financial analysis:

Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

Zoetis Income Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Revenue i	9.3B	8.5B	8.1B	7.8B	6.7B
Cost of Goods Sold i	2.7B	2.6B	2.5B	2.3B	2.1B
Gross Profit i	6.5B	6.0B	5.6B	5.5B	4.6B
Gross Margin % i	70.6%	70.0%	69.6%	70.4%	69.2%
Operating Expenses
Research & Development i	686.0M	614.0M	539.0M	508.0M	463.0M
Selling, General & Administrative i	2.3B	2.2B	2.0B	2.0B	1.7B
Other Operating Expenses i	-	-	-	-	-
Total Operating Expenses i	3.0B	2.8B	2.5B	2.5B	2.2B
Operating Income i	3.4B	3.1B	2.9B	2.8B	2.3B
Operating Margin % i	36.6%	35.9%	36.2%	36.0%	34.0%
Non-Operating Items
Interest Income i	106.0M	105.0M	50.0M	6.0M	12.0M
Interest Expense i	225.0M	239.0M	221.0M	224.0M	231.0M
Other Non-Operating Income	-140.0M	1.0M	-101.0M	-97.0M	-54.0M
Pre-tax Income i	3.1B	2.9B	2.7B	2.5B	2.0B
Income Tax i	637.0M	596.0M	545.0M	454.0M	360.0M
Effective Tax Rate % i	20.3%	20.3%	20.5%	18.2%	18.0%
Net Income i	2.5B	2.3B	2.1B	2.0B	1.6B
Net Margin % i	27.0%	27.4%	26.1%	26.2%	24.5%
Key Metrics
EBITDA i	4.0B	3.7B	3.5B	3.3B	2.7B
EPS (Basic) i	$5.47	$5.08	$4.51	$4.29	$3.44
EPS (Diluted) i	$5.47	$5.07	$4.49	$4.27	$3.42
Basic Shares Outstanding i	454200000	461172000	468900000	474300000	475502000
Diluted Shares Outstanding i	454200000	461172000	468900000	474300000	475502000

Income Statement Trend

Zoetis Balance Sheet From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Assets
Current Assets
Cash & Equivalents i	2.0B	2.0B	3.6B	3.5B	3.6B
Short-term Investments i	-	-	-	-	-
Accounts Receivable i	1.3B	1.3B	1.2B	1.1B	1.0B
Inventory i	2.3B	2.6B	2.3B	1.9B	1.6B
Other Current Assets	377.0M	434.0M	365.0M	389.0M	366.0M
Total Current Assets i	6.0B	6.3B	7.5B	6.9B	6.6B
Non-Current Assets
Property, Plant & Equipment i	219.0M	230.0M	220.0M	181.0M	192.0M
Goodwill i	6.6B	6.9B	6.9B	6.8B	7.1B
Intangible Assets i	1.1B	1.3B	1.4B	1.5B	1.7B
Long-term Investments	-	-	-	-	-
Other Non-Current Assets	790.0M	412.0M	320.0M	211.0M	200.0M
Total Non-Current Assets i	8.3B	7.9B	7.4B	7.0B	7.0B
Total Assets i	14.2B	14.3B	14.9B	13.9B	13.6B
Liabilities
Current Liabilities
Accounts Payable i	433.0M	411.0M	405.0M	436.0M	457.0M
Short-term Debt i	1.4B	3.0M	1.4B	-	604.0M
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	125.0M	102.0M	97.0M	67.0M	93.0M
Total Current Liabilities i	3.4B	1.9B	3.2B	1.8B	2.2B
Non-Current Liabilities
Long-term Debt i	5.4B	6.8B	6.7B	6.7B	6.8B
Deferred Tax Liabilities i	167.0M	146.0M	142.0M	320.0M	378.0M
Other Non-Current Liabilities	222.0M	237.0M	217.0M	239.0M	270.0M
Total Non-Current Liabilities i	6.1B	7.4B	7.4B	7.6B	7.7B
Total Liabilities i	9.5B	9.3B	10.5B	9.4B	9.8B
Equity
Common Stock i	5.0M	5.0M	5.0M	5.0M	5.0M
Retained Earnings i	12.0B	10.3B	8.7B	7.2B	5.7B
Treasury Stock i	7.4B	5.6B	4.5B	3.0B	2.2B
Other Equity	-	-	-	-	-
Total Shareholders Equity i	4.8B	5.0B	4.4B	4.5B	3.8B
Key Metrics
Total Debt i	6.7B	6.8B	8.1B	6.7B	7.4B
Working Capital i	2.6B	4.5B	4.3B	5.1B	4.4B

Balance Sheet Composition

Zoetis Cash Flow Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Operating Activities
Net Income i	2.5B	2.3B	2.1B	2.0B	1.6B
Depreciation & Amortization i	497.0M	491.0M	465.0M	448.0M	441.0M
Stock-Based Compensation i	74.0M	60.0M	62.0M	58.0M	59.0M
Working Capital Changes i	79.0M	-512.0M	-699.0M	-343.0M	-85.0M
Operating Cash Flow i	2.8B	2.3B	1.7B	2.1B	2.0B
Investing Activities
Capital Expenditures i	-	-	-	-	-
Acquisitions i	285.0M	-59.0M	-312.0M	-14.0M	-113.0M
Investment Purchases i	-5.0M	-4.0M	-9.0M	-12.0M	-27.0M
Investment Sales i	62.0M	12.0M	23.0M	44.0M	0
Investing Cash Flow i	340.0M	-45.0M	-297.0M	19.0M	-119.0M
Financing Activities
Share Repurchases i	-1.9B	-1.1B	-1.6B	-743.0M	-250.0M
Dividends Paid i	-786.0M	-692.0M	-611.0M	-474.0M	-380.0M
Debt Issuance i	0	0	1.3B	0	1.2B
Debt Repayment i	0	-1.4B	0	-600.0M	-500.0M
Financing Cash Flow i	-2.7B	-3.1B	-866.0M	-1.8B	103.0M
Free Cash Flow i	2.3B	1.6B	1.3B	1.7B	1.7B
Net Change in Cash i	490.0M	-871.0M	503.0M	310.0M	2.0B

Cash Flow Trend

Zoetis Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 25.36

Forward P/E 23.24

Price to Book 13.14

Price to Sales 6.96

PEG Ratio 23.24

Profitability Ratios

Profit Margin 27.83%

Operating Margin 40.20%

Return on Equity 52.77%

Return on Assets 15.37%

Financial Health

Current Ratio 1.76

Debt to Equity 137.01

Beta 0.88

Per Share Data

EPS (TTM) $5.81

Book Value per Share $11.21

Revenue per Share $20.90

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
zts	65.3B	25.36	13.14	52.77%	27.83%	137.01
Haleon Plc - ADR	43.6B	21.44	5.44	9.38%	13.81%	53.41
Intra-Cellular	14.0B	-183.15	12.20	-8.58%	-10.97%	1.48
United Therapeutics	13.6B	11.76	1.90	19.30%	40.36%	0.00
Neurocrine	13.1B	38.94	4.84	13.39%	13.88%	18.18
Viatris	12.5B	235.80	0.80	-19.77%	-24.57%	94.78

Financial data is updated regularly. All figures are in the company's reporting currency.