Zoetis

Health Care Pharmaceuticals Parsippany, New Jersey Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$9.5B
                    3y CAGR +5.4%
                    
                    P49
                    
                    +2.3%
                    
                    Net income
                    FY2025
                
$2.7B
                    Net margin +28.2%
                    
                    P90
                    
                    +7.5%
                    
                    Total assets
                    FY2025
                
$15.5B
                    ROA +17.3%
                    
                    P93
                    
                    +8.6%
                    
                    Operating cash flow
                    FY2025
                
$2.9B
                    FCF margin +24.1%
                    
                    P86
                    
                    -1.7%

15 yrs · FY2011–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 10 years

Total assets $15.5B

Total liabilities $12.1B

Shareholders equity $3.3B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	14.9%	14.0%	14.3%	24.0%	25.1%	26.5%	16.8%	14.9%	18.2%	9.5%
Accounts Receivable	10.3%	9.2%	9.1%	8.1%	8.2%	7.4%	9.4%	9.6%	11.6%	11.9%
Inventory	15.7%	16.2%	17.9%	15.7%	13.8%	12.0%	12.2%	12.9%	16.6%	19.6%
Prepaid Expenses	2.8%	2.6%	3.0%	2.4%	2.8%	2.7%	2.8%	2.5%	2.7%	3.2%
Other Current Assets	2.8%	2.6%	3.0%	2.4%	2.8%	2.7%	2.8%	2.5%	2.7%	3.2%
Total Current Assets	43.8%	42.0%	44.4%	50.3%	49.9%	48.6%	41.1%	40.8%	49.1%	44.3%
Property,Plant and Equipment	23.8%	23.8%	22.4%	18.4%	17.4%	16.2%	16.8%	15.4%	16.7%	18.1%
Operating Lease Assets	1.9%	1.5%	1.6%	1.5%	1.3%	1.4%	1.6%	1.9%	—	—
Goodwill	17.9%	19.1%	19.3%	18.4%	19.3%	19.8%	22.5%	23.4%	17.6%	19.4%
Intangible Assets	6.5%	7.9%	9.4%	9.2%	10.6%	12.6%	16.4%	19.0%	14.8%	16.1%
Deferred Tax Assets	4.1%	3.8%	1.4%	1.2%	0.7%	0.7%	—	—	—	—
Other Noncurrent Assets	2.1%	1.8%	1.4%	1.0%	0.8%	0.8%	0.8%	0.9%	0.9%	1.0%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	3.1%	3.0%	2.9%	2.7%	3.1%	3.4%	2.6%	2.9%	3.0%	3.5%
Accrued Liabilities	4.2%	5.2%	4.8%	4.6%	5.1%	4.1%	4.7%	4.5%	5.0%	6.1%
Current Portion of Long Term Debt	0.0%	9.5%	0.0%	9.0%	0.0%	4.4%	4.3%	0.0%	0.0%	0.0%
Other Current Liabilities	0.7%	0.9%	0.7%	0.6%	0.5%	0.7%	0.5%	0.3%	0.5%	0.5%
Total Current Liabilities	14.5%	24.0%	13.2%	21.2%	12.9%	15.9%	15.6%	11.3%	12.7%	14.6%
Long Term Debt	58.5%	36.7%	45.9%	43.9%	47.4%	48.5%	51.5%	59.8%	57.7%	58.4%
Operating Lease Liabilities Noncurrent	1.3%	1.2%	1.3%	1.2%	1.1%	1.2%	1.4%	—	—	—
Deferred Tax Liabilities	0.9%	1.2%	1.0%	1.0%	2.3%	2.8%	—	4.4%	4.4%	3.2%
Other Noncurrent Liabilities	1.6%	1.6%	1.7%	1.5%	1.7%	2.0%	2.0%	1.7%	2.3%	3.2%
Total Liabilities	78.5%	66.5%	65.1%	70.5%	67.3%	72.3%	76.5%	79.7%	79.2%	80.4%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	7.3%	8.7%	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%
Additional Paid In Capital	7.1%	8.3%	7.9%	7.3%	7.7%	7.8%	9.0%	9.5%	11.8%	13.4%
Retained Earnings	88.9%	84.1%	72.1%	58.1%	51.7%	41.6%	38.3%	30.3%	24.6%	19.3%
Treasury Stock	69.1%	52.3%	39.2%	30.4%	21.2%	16.4%	17.7%	13.8%	9.9%	5.5%
Accumulated Other Comprehensive Income	-5.4%	-6.6%	-5.9%	-5.5%	-5.5%	-5.4%	-6.3%	-5.8%	-5.9%	-7.8%
Noncontrolling Interest	0.0%	0.0%	-0.0%	-0.0%	0.0%	0.0%	—	—	0.2%	0.2%
Total Stockholders Equity	21.5%	33.5%	35.0%	29.5%	32.7%	27.7%	23.5%	20.3%	20.6%	19.4%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

19 accounts · 10 years

Revenue $9.5B

Operating income $2.7B

Net income $2.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	61.2%	65.0%	59.8%	54.1%	55.9%	49.0%	54.2%	54.1%	61.8%	63.9%
Expenses Cost of Revenue	17.2%	19.1%	17.9%	16.4%	16.6%	15.1%	17.3%	17.7%	20.7%	21.8%
Expenses Research and Development	4.5%	4.8%	4.3%	3.6%	3.7%	3.4%	4.0%	4.0%	4.4%	4.9%
Expenses Selling,General and Administrative	15.4%	16.3%	15.1%	13.5%	14.4%	12.7%	14.2%	13.8%	15.5%	17.8%
Expenses Depreciation and Amortization	3.1%	3.5%	3.4%	3.1%	3.2%	3.2%	3.6%	2.9%	2.8%	3.1%
Expenses Share Based Compensation	0.5%	0.5%	0.4%	0.4%	0.4%	0.4%	0.6%	0.5%	0.5%	0.5%
Expenses Restructuring and Asset Impairment	0.3%	0.3%	0.3%	0.0%	0.2%	0.1%	0.3%	0.2%	0.2%	0.0%
Expenses Operating Expenses	0.4%	0.4%	0.4%	0.3%	0.4%	0.3%	0.3%	—	—	—
Other Income Expense Operating Income	17.3%	17.5%	16.4%	14.2%	14.7%	12.0%	13.0%	13.3%	10.1%	10.7%
Other Income Expense Interest Expense	1.4%	1.6%	1.7%	1.5%	1.6%	1.7%	1.9%	1.9%	2.0%	2.2%
Other Income Expense Other Income/expense	-0.0%	-0.0%	-0.0%	0.1%	-0.0%	-0.0%	0.0%	0.1%	0.0%	0.0%
Other Income Expense Income Before Tax	21.7%	22.0%	20.6%	17.8%	17.9%	14.7%	15.6%	15.7%	17.8%	16.1%
Income Tax Income Tax Expense	4.4%	4.5%	4.2%	3.7%	3.3%	2.6%	2.6%	2.5%	7.7%	5.3%
net Income net Income	17.3%	17.5%	16.4%	14.2%	14.7%	12.0%	13.0%	13.3%	10.1%	10.7%
net Income Comprehensive Income	18.0%	16.8%	16.3%	13.8%	14.4%	12.0%	12.2%	12.1%	11.1%	11.0%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	2.9%	3.2%	3.2%	3.1%	3.4%	3.5%	4.1%	4.5%	5.7%	6.5%
Earnings Per Share Weighted Average Shares Diluted	2.9%	3.2%	3.2%	3.2%	3.4%	3.5%	4.2%	4.5%	5.7%	6.5%

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 10 years

Operating cash flow $2.9B

Investing cash flow $-748.0M

Financing cash flow $-1.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	17.3%	17.5%	16.4%	14.2%	14.7%	12.0%	13.0%	13.3%	10.1%	10.7%
Operating Activities Depreciation and Amortization	3.1%	3.5%	3.4%	3.1%	3.2%	3.2%	3.6%	2.9%	2.8%	3.1%
Operating Activities Stock Based Compensation	0.5%	0.5%	0.4%	0.4%	0.4%	0.4%	0.6%	0.5%	0.5%	0.5%
Operating Activities Deferred Income Taxes	-0.3%	-2.4%	-0.4%	-1.9%	-0.6%	-0.5%	-0.7%	-1.0%	1.5%	-0.7%
Operating Activities Changes In Operating Assets and Liabilities	3.1%	0.9%	3.3%	4.0%	3.6%	3.1%	1.4%	0.4%	0.2%	0.8%
Operating Activities Other Non Cash Items	0.5%	0.8%	0.5%	-1.2%	1.6%	0.7%	0.8%	0.5%	-0.4%	-3.8%
Operating Activities net Cash From Operating Activities	18.8%	20.7%	16.5%	12.8%	15.9%	15.6%	15.5%	16.6%	15.7%	9.3%
Investing Activities Capital Expenditures	4.0%	4.6%	5.1%	3.9%	3.4%	3.3%	4.0%	3.1%	2.6%	2.8%
Investing Activities Purchases of Investments	0.0%	0.0%	0.0%	0.1%	0.1%	0.0%	0.0%	—	—	—
Investing Activities Other Investing Activities	-0.0%	0.0%	-0.0%	0.0%	0.0%	0.0%	0.1%	0.1%	0.0%	0.0%
Investing Activities net Cash From Investing Activities	-4.8%	-2.2%	-5.4%	-5.9%	-3.3%	-4.2%	-4.4%	-21.0%	-3.1%	-2.8%
Financing Activities Proceeds From Debt	11.9%	0.0%	0.0%	9.0%	0.0%	9.1%	0.0%	13.9%	14.3%	0.0%
Financing Activities Repayment of Debt	8.7%	0.0%	9.4%	0.0%	4.3%	3.7%	0.0%	0.0%	8.7%	5.2%
Financing Activities Repurchase of Common Stock	20.9%	13.1%	7.6%	10.7%	5.3%	1.8%	5.4%	6.5%	5.8%	3.9%
Financing Activities Dividends Paid	5.7%	5.5%	4.8%	4.1%	3.4%	2.8%	2.7%	2.3%	2.4%	2.5%
Financing Activities Proceeds From Stock Issuance	0.1%	0.1%	0.3%	0.1%	0.3%	0.4%	0.3%	0.3%	0.4%	0.5%
Financing Activities Other Financing Activities	-0.0%	0.0%	0.0%	—	—	—	—	—	—	0.0%
Financing Activities net Cash From Financing Activities	-12.1%	-18.7%	-21.8%	-6.1%	-13.4%	0.9%	-8.2%	4.9%	-2.9%	-11.8%
Cash Reconciliation Effect of Exchange Rate On Cash	0.3%	-0.2%	-0.0%	-0.2%	-0.1%	-0.1%	-0.1%	-0.2%	0.1%	-0.3%
Cash Reconciliation net Change In Cash	2.1%	-0.4%	-10.8%	0.6%	-0.9%	12.3%	2.9%	0.4%	9.7%	-5.6%
Cash Reconciliation Cash At Beginning of Period	14.9%	14.0%	14.3%	24.0%	25.1%	26.5%	16.8%	14.9%	18.2%	9.5%
Cash Reconciliation Cash At End of Period	14.9%	14.0%	14.3%	24.0%	25.1%	26.5%	16.8%	14.9%	18.2%	9.5%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+71.8%	+70.6%	+70.0%	+69.6%	+70.4%	+69.2%	+68.2%	+67.2%	+66.6%	+65.9%
Operating margin	+28.2%	+26.9%	+27.4%	+26.2%	+26.2%	+24.5%	+24.0%	+24.5%	+16.3%	+16.8%
Net margin	+28.2%	+26.9%	+27.4%	+26.2%	+26.2%	+24.5%	+24.0%	+24.5%	+16.3%	+16.8%
FCF margin	+24.1%	+24.8%	+19.0%	+16.4%	+22.3%	+25.1%	+21.3%	+24.9%	+21.1%	+10.2%
Growth
Revenue CAGR (3y)	+5.4%	+6.0%	+8.6%	+8.9%	+10.1%	+7.9%	+8.6%	+6.9%	+3.5%	+2.3%
Returns
ROE	+80.2%	+52.1%	+46.9%	+48.0%	+44.8%	+43.5%	+55.4%	+65.4%	+48.8%	+55.2%
ROA	+17.3%	+17.5%	+16.4%	+14.2%	+14.7%	+12.0%	+13.0%	+13.3%	+10.1%	+10.7%
ROIC	+21.1%	+21.2%	+19.6%	+19.3%	+21.8%	+18.2%	+17.3%	+17.1%	+9.5%	+10.5%
Liquidity
Current ratio	3.03x	1.75x	3.36x	2.37x	3.86x	3.05x	2.63x	3.60x	3.85x	3.03x
Quick ratio	1.75x	0.97x	1.77x	1.51x	2.57x	2.13x	1.67x	2.16x	2.34x	1.47x
Leverage
D/E	3.64x	1.98x	1.86x	2.39x	2.06x	2.61x	3.26x	3.93x	3.84x	4.14x
Interest coverage	12.04x	11.05x	9.81x	9.57x	9.09x	7.09x	6.73x	6.93x	4.94x	4.95x
Efficiency
Asset turnover	0.61x	0.65x	0.60x	0.54x	0.56x	0.49x	0.54x	0.54x	0.62x	0.64x
Cash conversion cycle	+327d	+303d	+363d	+343d	+289d	+263d	+267d	+271d	+308d	+339d

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