Zoetis Inc.
ZTS- Exchange
- NYSE
- Industry
- Pharmaceutical Preparations
- SEC CIK
- 0001555280
No open-market purchases or sales by Zoetis Inc. insiders were filed in the last 90 days; 1,439 institutions reported holding it in 13F filings for Q2 2026, worth $28.6B in total; superinvestors Markel Group and Soros Fund Management hold it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 8, 2026, 10:52 PM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 12, 2026 | Feb 13, 2025 | Feb 13, 2024 | Feb 14, 2023 | Feb 15, 2022 |
| Revenue | $9.47B | $9.26B | $8.54B | $8.08B | $7.78B |
| Cost of revenue | $2.67B | $2.72B | $2.56B | $2.45B | $2.30B |
| Research and development | $698.0M | $686.0M | $614.0M | $539.0M | $508.0M |
| Selling, general and administrative | $2.38B | $2.32B | $2.15B | $2.01B | $2.00B |
| Interest expense | $222.0M | $225.0M | $239.0M | $221.0M | $224.0M |
| Income tax | $687.0M | $637.0M | $596.0M | $545.0M | $454.0M |
| Net income | $2.67B | $2.49B | $2.34B | $2.11B | $2.04B |
| EPS, basic | $6.03 | $5.47 | $5.08 | $4.51 | $4.29 |
| EPS, diluted | $6.02 | $5.47 | $5.07 | $4.49 | $4.27 |
| Weighted shares, basic | 443.4M | 454.2M | 461.2M | 468.9M | 474.3M |
| Weighted shares, diluted | 443.8M | 454.8M | 462.3M | 470.4M | 476.7M |
| Margins and growth | |||||
| Net margin | 28.2% | 26.9% | 27.4% | 26.2% | 26.2% |
| Revenue growth, year over year | +2.3% | +8.3% | +5.7% | +3.9% | +16.5% |
| Net income growth, year over year | +7.5% | +6.1% | +10.9% | +3.8% | +24.4% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 12, 2026 | Feb 13, 2025 | Feb 13, 2024 | Feb 14, 2023 | Feb 15, 2022 |
| Accounts receivable | $1.59B | $1.32B | $1.30B | $1.22B | $1.13B |
| Inventory | $2.43B | $2.31B | $2.56B | $2.35B | $1.92B |
| Total current assets | $6.77B | $5.99B | $6.34B | $7.51B | $6.93B |
| Property, plant and equipment | $3.68B | $3.39B | $3.20B | $2.75B | $2.42B |
| Goodwill | $2.77B | $2.72B | $2.76B | $2.75B | $2.68B |
| Intangible assets | $998.0M | $1.13B | $1.34B | $1.38B | $1.47B |
| Total assets | $15.5B | $14.2B | $14.3B | $14.9B | $13.9B |
| Accounts payable | $487.0M | $433.0M | $411.0M | $405.0M | $436.0M |
| Short-term debt | $0 | $0 | $3.00M | $2.00M | $0 |
| Total current liabilities | $2.23B | $3.41B | $1.89B | $3.17B | $1.80B |
| Long-term debt | $9.04B | $5.22B | $6.56B | $6.55B | $6.59B |
| Total liabilities | $12.1B | $9.47B | $9.29B | $10.5B | $9.36B |
| Shareholders' equity | $3.33B | $4.77B | $4.99B | $4.40B | $4.54B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 12, 2026 | Feb 13, 2025 | Feb 13, 2024 | Feb 14, 2023 | Feb 15, 2022 |
| Operating cash flow | $2.90B | $2.95B | $2.35B | $1.91B | $2.21B |
| Capital expenditures | $621.0M | $655.0M | $732.0M | $586.0M | $477.0M |
| Free cash flow | $2.28B | $2.30B | $1.62B | $1.33B | $1.74B |
| Depreciation and amortization | $487.0M | $497.0M | $491.0M | $465.0M | $448.0M |
| Stock-based compensation | $83.0M | $74.0M | $60.0M | $62.0M | $58.0M |
| Share buybacks | $3.23B | $1.86B | $1.09B | $1.59B | $743.0M |
| Investing cash flow | -$748.0M | -$315.0M | -$777.0M | -$883.0M | -$458.0M |
| Financing cash flow | -$1.87B | -$2.66B | -$3.11B | -$904.0M | -$1.86B |
| Net change in cash | $325.0M | -$54.0M | -$1.54B | $96.0M | -$119.0M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 0.9% | 0.8% | 0.7% | 0.8% | 0.7% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 30, 2026 | 406.3M | −7.8% | SEC |
| Jul 31, 2026 | 413.2M | −6.8% | SEC |
| May 1, 2026 | 419.2M | −5.8% | SEC |
| Feb 6, 2026 | 422.1M | −5.7% | SEC |
| Oct 31, 2025 | 440.7M | −2.3% | SEC |
| Aug 1, 2025 | 443.2M | −2.2% | SEC |
| May 2, 2025 | 445.2M | −2.4% | SEC |
| Feb 7, 2025 | 447.8M | −2.2% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.