Zoetis

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

                    Revenue
                    FY2025
                
$9.5B
                    3y CAGR +5.4%
                    
                    P51
                    
                    +2.3%
                    
                    Net income
                    FY2025
                
$2.7B
                    Net margin +28.2%
                    
                    P90
                    
                    +7.5%
                    
                    Total assets
                    FY2025
                
$15.5B
                    ROA +17.2%
                    
                    P93
                    
                    +9.2%
                    
                    Operating cash flow
                    FY2025
                
$2.9B
                    FCF margin +24.1%
                    
                    P84
                    
                    -1.7%

15 yrs · FY2011–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

30 accounts · 3 years

Total assets $15.5B

Total liabilities $12.1B

Shareholders equity $3.3B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$2.3B 16.4%	$2.0B -2.6%	$2.0B
Accounts Receivable	$1.6B 20.8%	$1.3B 0.9%	$1.3B
Inventory	$2.4B 5.4%	$2.3B -10.1%	$2.6B
Other Current Assets	$436.0M 15.6%	$377.0M -13.1%	$434.0M
Total Current Assets	$6.8B 13.1%	$6.0B -5.6%	$6.3B
Property,Plant and Equipment	$3.7B 8.6%	$3.4B 5.8%	$3.2B
Operating Lease Assets	$288.0M 31.5%	$219.0M -4.8%	$230.0M
Goodwill	$2.8B 1.6%	$2.7B -1.3%	$2.8B
Intangible Assets	$998.0M -11.4%	$1.1B -15.8%	$1.3B
Deferred Tax Assets	$637.0M 18.0%	$540.0M 162.1%	$206.0M
Other Noncurrent Assets	$328.0M 31.2%	$250.0M 21.4%	$206.0M
Total Assets	$15.5B 9.2%	$14.2B -0.7%	$14.3B
Liabilities
Accounts Payable	$487.0M 12.5%	$433.0M 5.4%	$411.0M
Accrued Liabilities	$1.6B 9.1%	$1.5B 9.5%	$1.4B
Current Portion of Long Term Debt	$0 -100.0%	$1.4B 44900.0%	$3.0M
Other Current Liabilities	$107.0M -14.4%	$125.0M 22.5%	$102.0M
Total Current Liabilities	$2.2B -34.5%	$3.4B 80.6%	$1.9B
Long Term Debt	$9.0B 73.2%	$5.2B -20.5%	$6.6B
Operating Lease Liabilities Noncurrent	$196.0M 12.6%	$174.0M -7.4%	$188.0M
Deferred Tax Liabilities	$139.0M -16.8%	$167.0M 14.4%	$146.0M
Other Noncurrent Liabilities	$524.0M 6.1%	$494.0M -2.8%	$508.0M
Total Liabilities	$12.1B 28.2%	$9.5B 1.9%	$9.3B
Equity
Common Stock	$5.0M 0.0%	$5.0M 0.0%	$5.0M
Additional Paid In Capital	$1.1B -6.9%	$1.2B 4.3%	$1.1B
Retained Earnings	$13.7B 14.8%	$12.0B 16.3%	$10.3B
Treasury Stock	$10.7B 43.5%	$7.4B 33.0%	$5.6B
Accumulated Other Comprehensive Income	$-834.0M 11.3%	$-940.0M -12.0%	$-839.0M
Total Stockholders Equity	$3.3B -30.2%	$4.8B -4.5%	$5.0B
Noncontrolling Interest	$0	$0 100.0%	$-6.0M
Total Liabilitiesand Equity	$15.5B 8.6%	$14.2B -0.3%	$14.3B

Income Statement

Revenue, expense, and profitability

14 accounts · 3 years

Revenue $9.5B

Operating income Not reported

Net income $2.7B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	$9.5B 2.3%	$9.3B 8.3%	$8.5B
Expenses Cost of Revenue	$2.7B -1.9%	$2.7B 6.2%	$2.6B
Expenses Research and Development	$698.0M 1.7%	$686.0M 11.7%	$614.0M
Expenses Selling,General and Administrative	$2.4B 2.6%	$2.3B 7.8%	$2.2B
Other Income Expense Interest Expense	$222.0M -1.3%	$225.0M -5.9%	$239.0M
Other Income Expense Other Income/expense	$-143.0M 18.3%	$-175.0M -307.0%	$-43.0M
Other Income Expense Income Before Tax	$3.4B 7.2%	$3.1B 6.7%	$2.9B
Income Tax Income Tax Expense	$687.0M 7.8%	$637.0M 6.9%	$596.0M
net Income Other Items Below Tax	$0 100.0%	$-10.0M -350.0%	$4.0M
net Income net Income	$2.7B 7.5%	$2.5B 6.1%	$2.3B
net Income Comprehensive Income	$2.8B 16.5%	$2.4B 2.7%	$2.3B
Earnings Per Share Basic Eps	$6 10.2%	$5 7.7%	$5
Earnings Per Share Diluted Eps	$6 10.1%	$5 7.9%	$5
Earnings Per Share Weighted Average Shares Diluted	$443.8M -2.4%	$454.8M -1.6%	$462.3M

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 3 years

Operating cash flow $2.9B

Investing cash flow $-748.0M

Financing cash flow $-1.9B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	$2.7B 7.1%	$2.5B 6.7%	$2.3B
Operating Activities Depreciation and Amortization	$487.0M -2.0%	$497.0M 1.2%	$491.0M
Operating Activities Stock Based Compensation	$83.0M 12.2%	$74.0M 23.3%	$60.0M
Operating Activities Deferred Income Taxes	$-52.0M 84.6%	$-338.0M -454.1%	$-61.0M
Operating Activities Changes In Operating Assets and Liabilities	$-397.0M -602.5%	$79.0M 115.4%	$-512.0M
Operating Activities Other Non Cash Items	$110.0M -24.1%	$145.0M 314.3%	$35.0M
Operating Activities net Cash From Operating Activities	$2.9B -1.7%	$3.0B 25.5%	$2.4B
Investing Activities Capital Expenditures	$-621.0M 5.2%	$-655.0M 10.5%	$-732.0M
Investing Activities Business Acquisitions	$-24.0M -200.0%	$-8.0M 94.8%	$-155.0M
Investing Activities Purchases of Investments	$-7.0M -40.0%	$-5.0M -25.0%	$-4.0M
Investing Activities Other Investing Activities	$-96.0M -127.2%	$353.0M 209.6%	$114.0M
Investing Activities net Cash From Investing Activities	$-748.0M -137.5%	$-315.0M 59.5%	$-777.0M
Financing Activities Proceeds From Debt	$3.8B 128366.7%	$-3.0M -400.0%	$1.0M
Financing Activities Repayment of Debt	$-1.4B	$0 100.0%	$-1.4B
Financing Activities Repurchase of Common Stock	$-3.2B -74.1%	$-1.9B -70.1%	$-1.1B
Financing Activities Dividends Paid	$-889.0M -13.1%	$-786.0M -13.6%	$-692.0M
Financing Activities Tax Withholding On Stock Based Compensation	$-11.0M -37.5%	$-8.0M -129.6%	$27.0M
Financing Activities Other Financing Activities	$-233.0M -4560.0%	$-5.0M -66.7%	$-3.0M
Financing Activities net Cash From Financing Activities	$-1.9B 29.7%	$-2.7B 14.4%	$-3.1B
Cash Reconciliation Effect of Exchange Rate On Cash	$39.0M 221.9%	$-32.0M -357.1%	$-7.0M
Cash Reconciliation net Change In Cash	$325.0M 701.9%	$-54.0M 96.5%	$-1.5B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+71.8%	+70.6%	+70.0%
Operating margin	—	—	—
Net margin	+28.2%	+26.9%	+27.4%
FCF margin	+24.1%	+24.8%	+19.0%
Growth
Revenue CAGR (3y)	+5.4%	+6.0%	+8.6%
Returns
ROE	+80.2%	+52.1%	+46.9%
ROA	+17.2%	+17.5%	+16.4%
ROIC	—	—	—
Liquidity
Current ratio	3.03x	1.75x	3.36x
Quick ratio	1.75x	0.97x	1.77x
Leverage
D/E	3.64x	1.98x	1.86x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.61x	0.65x	0.60x
Cash conversion cycle	+327d	+303d	+363d

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