Zoetis (ZTS) FY2017 results: revenue $5.3 billion, up 8.6% on the year
Zoetis Inc. (ZTS) reported revenue of $5.3 billion for fiscal 2017, the year ended 31 December 2017, up 8.6% on the year before. Net income was $864 million, up 5.2%, and diluted earnings per share $1.75. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$5.3 billion
+8.6% on the year
FY2011FY2017
Operating margin
n/a
FY2011FY2017
Net income
$864 million
+5.2% on the year
FY2011FY2017
Diluted EPS
$1.75
+6.1% on the year
FY2011FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,307
4,888
4,765
+8.6%
Cost of revenue
1,775
1,666
1,738
+6.5%
Gross profit
3,532
3,222
3,027
+9.6%
Gross margin
66.6%
65.9%
63.5%
Research and development
382
376
364
+1.6%
Selling, general and administrative
1,334
1,364
1,532
-2.2%
Interest expense
175
166
124
+5.4%
Pre-tax income
1,525
1,228
545
+24.2%
Income tax
663
409
206
+62.1%
Effective tax rate
43.5%
33.3%
37.8%
Net income
864
821
339
+5.2%
Net margin
16.3%
16.8%
7.1%
Diluted EPS
$1.75
$1.65
$0.68
+6.1%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,346
713
664
+88.8%
Capital expenditure
224
216
224
+3.7%
Free cash flow
1,122
497
440
+125.8%
Free cash flow margin
21.1%
10.2%
9.2%
Cash from investing
-270
-214
-1,115
Cash from financing
-251
-903
755
Depreciation and amortisation
242
240
199
+0.8%
Share-based compensation
44.0
37.0
43.0
+18.9%
Buybacks
500
300
203
+66.7%
Dividends paid
206
188
168
+9.6%
Dividend per share
$0.44
$0.39
$0.34
+13.1%
Diluted shares, weighted
493m
498m
502m
-1.0%
Shares outstanding at period end
486m
493m
497m
-1.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,770
1,487
1,068
+19.0%
Non-controlling interest
16.0
12.0
23.0
+33.3%
Debt
4,953
4,468
4,863
+10.9%
Other liabilities
1,847
1,682
1,959
+9.8%
Total liabilities and equity
8,586
7,649
7,913
+12.2%
Fixed assets
1,435
1,381
1,307
+3.9%
Goodwill
1,510
1,481
1,455
+2.0%
Intangible assets
1,269
1,228
1,190
+3.3%
Investments
0.0
n/a
n/a
Cash and equivalents
1,564
727
1,154
+115.1%
Receivables
998
913
937
+9.3%
Inventory
1,427
1,502
1,467
-5.0%
Other assets
383
417
403
-8.2%
Total assets
8,586
7,649
7,913
+12.2%
10-K for the year ended 31 December 2017, filed 14 February 2019: the filing.