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Stocks / United States / ZTS · Pharmaceutical Preparations · NYSE

Zoetis Inc. (ZTS)

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Zoetis Inc. (ZTS) reported revenue of $2.5 billion for Q2 FY2026, the quarter ended 30 June 2026, up 0.3% on the same quarter a year earlier. Net income was $691 million, down 3.8% on the year, and diluted earnings per share $1.65. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$2.5 billionup 0.3%
Net income$691 milliondown 3.8%
Diluted EPS$1.65
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE83.1%
ROCEn/a
Operating marginn/a
Net margin27.5%
FCF margin24.9%
Interest covern/a
Debt to equity2.87
Cash conversion1.10
Share count, 1 year-6.7%
Sales CAGR, 3 years5.4%
Profit CAGR, 3 years8.1%
EPS, TTM$6.07

At the close of 21 September 2026

Price$71.33
Market cap$29.5 billion
Stock P/E11.75
Price to book9.38
EV / EBITDAn/a
Dividend yield2.8%
Market cap / sales3.10
52-week high$147.53
52-week low$71.33
Price, 1 year-51.1%
Price CAGR, 3 years-26.1%
Price CAGR, 5 years-18.7%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Zoetis Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on ZTS

Filings22 in twelve months: 13 current reports (8-K), about 6 regulation fd disclosure; 4 results of operations; 3 officer or director change; 1 shareholder vote; 1 material agreement
Planned insider sales3 Form 144 notices in twelve months, $3.3 million; latest 17 February 2026
Options tapeput/call 0.97 by open interest on 23 September 2026; the straddle prices a 7.4% move to 16 October 2026
Holders12 of the followed funds hold it; largest Geode Capital Management; 2 Schedule 13D or 13G filings in twelve months
Insider trading0 sales and 3 purchases on Form 4 in twelve months
Congress5 House trades disclosed in six months
Short interest19.4 million shares short, 4.13 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2,1512,2132,1902,3612,3882,3172,2202,4602,4002,3872,2622,468
Cost of revenue638728643668701707622649683712641673
Gross profit1,5131,4851,5471,6931,6871,6101,5981,8111,7171,6751,6211,795
Gross margin70%67%71%72%71%69%72%74%72%70%72%73%
R&D152174162171167186157172170199180173
SG&A525565547581565625563617579619588592
Interest expense59.059.058.059.057.051.054.053.058.057.062.061.0
Pre-tax income717650747780874732810902887761758866
Tax rate17%20%20%20%21%21%22%20%19%21%21%20%
Net income596525599624682581631718721603601691
Net margin28%24%27%26%29%25%28%29%30%25%27%28%
Diluted EPS$1.29$1.14$1.31$1.37$1.50$1.29$1.41$1.61$1.63$1.37$1.42$1.65
Operating cash flow724897595502951905587486938893401655
Capital expenditure145198140132167216149178133161110117
Free cash flow579699455370784689438308805732291538
Buybacks2502353395334335534433383942,060606584
Shares outstanding460m458m457m454m452m448m446m444m441m425m420m414m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014 FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue4,7854,7654,8885,3075,8256,2606,6757,7768,0808,5449,2569,4679,517
Cost of revenue1,7171,7381,6661,7751,9111,9922,0572,3032,4542,5612,7192,6662,709
Gross profit3,0683,0273,2223,5323,9144,2684,6185,4735,6265,9836,5376,8016,808
Gross margin64.1%63.5%65.9%66.6%67.2%68.2%69.2%70.4%69.6%70.0%70.6%71.8%71.5%
Research and development396364376382432457463508539614686698722
Selling, general and administrative1,6431,5321,3641,3341,4841,6381,7262,0012,0092,1512,3182,3782,378
Interest expense117124166175206223231224221239225222238
Pre-tax income8205451,2281,5251,6901,8011,9962,4882,6562,9363,1333,3603,272
Income tax233206409663266301360454545596637687656
Effective tax rate28.4%37.8%33.3%43.5%15.7%16.7%18.0%18.2%20.5%20.3%20.3%20.4%20.0%
Net income5833398218641,4281,5001,6382,0372,1142,3442,4862,6732,616
Net margin12.2%7.1%16.8%16.3%24.5%24.0%24.5%26.2%26.2%27.4%26.9%28.2%27.5%
Diluted EPS$1.16$0.68$1.65$1.75$2.93$3.11$3.42$4.27$4.49$5.07$5.47$6.02$6.07
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014 FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow6266647131,3461,7901,7952,1262,2131,9122,3532,9532,9042,887
Capital expenditure180224216224338460453477586732655621521
Free cash flow4464404971,1221,4521,3351,6731,7361,3261,6212,2982,2832,366
Free cash flow margin9.3%9.2%10.2%21.1%24.9%21.3%25.1%22.3%16.4%19.0%24.8%24.1%24.9%
Depreciation and amortisation204199240242308412441448465491497487483
Share-based compensation32.043.037.044.053.067.059.058.062.060.074.083.095.0
Buybacks0.02033005006986262507431,5941,0921,8583,2353,644
Dividend per share$0.30$0.34$0.39$0.44$0.54$0.69$0.85$1.07$1.35$1.56$1.80$2.03n/a
Diluted shares, weighted502m502m498m493m487m482m479m477m470m462m455m444m418m
Shares outstanding at period end501m497m493m486m480m476m475m473m464m458m448m425m414m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Total assets6,5887,9137,6498,58610,77711,54513,60913,90014,92514,28614,23715,46715,077
Cash and equivalents8821,1547271,5641,6021,9343,6043,4853,5812,0411,9872,4501,476
Receivables9809379139981,0361,0861,0131,1331,2151,3041,3161,5901,571
Inventory1,2891,4671,5021,4271,3911,4101,6281,9232,3452,5642,3062,4302,574
Goodwill9761,4551,4811,5102,5192,5922,6942,6822,7462,7592,7242,7672,771
Long-term debt3,6244,4634,4684,9536,4435,9476,5956,5926,5526,5645,2209,0429,048
Borrowings, as the company tags them3,6534,9004,5005,0006,5006,5007,2506,6508,0006,6506,6509,1509,150
Operating lease liabilitiesn/an/an/an/a0.0164163151186188174196190
Finance lease liabilitiesn/an/an/an/an/an/an/an/a0.08.07.06.0n/a
Shareholders' equity1,3111,0681,4871,7702,1852,7083,7694,5434,4054,9974,7703,3313,148
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded7.1%7.2%5.4%1.4%
Profit growth, compounded22.9%10.3%8.1%0.2%
Return on equity, average54.0%54.4%59.8%80.2%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Pharmaceutical Preparations

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Eli Lilly & Co. LLY$1.10 trillion39.0978.8%n/a49.6%1.410.5%
Johnson & Johnson JNJ$649.4 billion31.3024.8%n/a8.1%0.441.9%
ABBVIE Inc. ABBV$467.4 billion74.71n/a26.2%10.4%n/a2.6%
Merck & Co., Inc. MRK$368.8 billion119.607.6%n/a4.6%1.292.2%
Abbott Laboratories ABT$179.4 billion28.8512.1%17.1%6.6%0.572.3%
Pfizer Inc. PFE$158.1 billion36.505.1%n/a-0.2%0.716.2%
Vertex Pharmaceuticals Inc. / MA VRTX$129.4 billion29.7421.8%38.0%10.2%0.00n/a
Bristol-Myers Squibb Co. BMY$127.9 billion13.7641.6%24.2%3.1%1.924.0%
Regeneron Pharmaceuticals, Inc. REGN$84.6 billion19.7713.7%24.7%9.3%0.060.5%
Zoetis Inc. ZTS$29.5 billion11.7583.1%n/a1.4%2.872.8%
Viatris Inc. VTRS$19.6 billionn/a-2.9%-0.6%4.4%0.812.8%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 20266 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K31 December 202512 February 2026EDGAR
10-Q30 September 20254 November 2025EDGAR
10-Q30 June 20255 August 2025EDGAR
10-Q31 March 20256 May 2025EDGAR
10-K31 December 202413 February 2025EDGAR
10-Q30 September 20244 November 2024EDGAR
10-Q30 June 20246 August 2024EDGAR
10-Q31 March 20242 May 2024EDGAR

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