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ZTS

Zoetis Inc.

ZTS

Zoetis Inc. • NYSE
$128.28 ▲ 0.46% (+0.59)
Market Cap $56.53 B
52w High $181.85
52w Low $115.25
Dividend Yield 2.00%
P/E 21.6
Volume 2.14M
Outstanding Shares 440.69M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.4B ▼ $781M ▼ $721M ▲ 30.042% ▲ $1.63 ▲ $1.069B ▼
Q2-2025 $2.46B ▲ $789M ▲ $718M ▲ 29.187% ▲ $1.61 ▲ $1.083B ▲
Q1-2025 $2.22B ▼ $720M ▼ $631M ▲ 28.423% ▲ $1.41 ▲ $988M ▲
Q4-2024 $2.317B ▼ $811M ▲ $581M ▼ 25.076% ▼ $1.29 ▼ $911M ▼
Q3-2024 $2.388B $732M $682M 28.559% $1.51 $1.056B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.084B ▲ $15.159B ▲ $9.761B ▲ $5.398B ▲
Q2-2025 $1.435B ▼ $14.479B ▲ $9.502B ▲ $4.977B ▲
Q1-2025 $1.721B ▼ $14.098B ▼ $9.443B ▼ $4.655B ▼
Q4-2024 $1.985B ▲ $14.237B ▼ $9.467B ▲ $4.77B ▼
Q3-2024 $1.71B $14.357B $9.123B $5.234B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $721M ▲ $938M ▲ $-160M ▲ $-134M ▲ $649M ▲ $805M ▲
Q2-2025 $718M ▲ $486M ▼ $-247M ▼ $-564M ▲ $-286M ▼ $308M ▼
Q1-2025 $631M ▲ $587M ▼ $-175M ▼ $-677M ▲ $-266M ▼ $438M ▼
Q4-2024 $581M ▼ $905M ▼ $126M ▲ $-745M ▼ $273M ▲ $689M ▼
Q3-2024 $692M $951M $-178M $-628M $140M $784M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Cattle
Cattle
 $400.00M ▲$360.00M ▼$320.00M ▼$400.00M ▲
Dogs and Cats
Dogs and Cats
 $-4230.00M ▲$1.48Bn ▲$1.72Bn ▲$1.59Bn ▼
Fish
Fish
 $70.00M ▲$50.00M ▼$70.00M ▲$80.00M ▲
Horses
Horses
 $5.80Bn ▲$70.00M ▼$70.00M ▲$70.00M ▲
Poultry
Poultry
 $120.00M ▲$110.00M ▼$100.00M ▼$110.00M ▲
Swine
Swine
 $130.00M ▲$110.00M ▼$120.00M ▲$110.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Zoetis shows a clear pattern of steady, healthy growth. Sales have risen every year over the past five years, and profits have grown alongside them, not just in absolute terms but with strong underlying margins. Operating profit and cash-style profit both scale well with revenue, suggesting good cost control and solid pricing power. Earnings per share have climbed consistently, which indicates that growth is translating into tangible value for shareholders rather than being absorbed by expenses. Overall, the income statement points to a mature, high‑margin business that continues to expand at a measured, sustainable pace.

Balance Sheet

Balance Sheet The balance sheet looks like that of a stable, established company rather than a rapidly expanding one. Total assets have stayed fairly steady, which suggests the business doesn’t need heavy investment just to maintain its position. Debt is meaningful but not excessive, and has eased down from its earlier peak, while equity has gradually built up, pointing to retained profits strengthening the company’s capital base over time. Cash holdings are solid but lower than a few years ago, which may reflect a mix of debt reduction, investment, and capital returns. Overall, the financial structure appears sound, with leverage worth watching but not alarming based on these figures alone.

Cash Flow

Cash Flow Cash generation is a strong point. Operating cash flow has grown nicely over the five‑year period and tracks profit growth rather well, which supports the quality and reliability of reported earnings. After capital spending, free cash flow remains robust and has improved over time, even though investment in property, equipment, and other long‑lived assets has ticked up. The business appears able to fund its growth needs internally, service its debt, and still have room for shareholder returns. Cash flow volatility looks limited, which is important in a sector exposed to product cycles and patent cliffs.

Competitive Edge

Competitive Edge Zoetis holds a leading, arguably dominant, position in animal health. Its scale, long history, and origin from Pfizer give it a deep reservoir of trust with veterinarians and livestock producers. The company combines a broad product lineup in both pet and livestock markets with global distribution, which makes it hard for smaller rivals to match its reach or portfolio breadth. Strong brand recognition, extensive patents on key medicines, and the practical difficulty for veterinarians to switch away from familiar, proven products all reinforce its moat. At the same time, Zoetis still faces typical industry pressures: patent expirations, competition from other large animal health players, regulatory changes, and potential shifts in pet spending or livestock economics. Even so, the competitive position today looks strong and durable.

Innovation and R&D

Innovation and R&D Innovation is a core strategic asset for Zoetis. The company is at the forefront of advanced animal therapies, especially monoclonal antibodies for chronic conditions like osteoarthritis pain, and has built several franchise products that define their categories. Its approach combines medicines, vaccines, diagnostics, genetics, and digital tools into integrated solutions, which deepens customer relationships and raises switching costs. Zoetis also leans into data, AI, and precision animal health to accelerate R&D and sharpen product targeting, and it maintains a broad pipeline across multiple species and disease areas. The upside is continued creation of new, differentiated products; the main risks are typical for pharma: clinical setbacks, regulatory delays, safety concerns after launch, and the need to keep replenishing the pipeline as older products face competition.

Summary

Zoetis looks like a high‑quality, steadily growing animal health business with strong profitability, solid cash generation, and a resilient financial structure. Its leadership position is underpinned by trusted brands, global scale, a wide and defensible product portfolio, and deep relationships with veterinary customers. The company’s focus on innovation—particularly in biologics, diagnostics, and data‑driven tools—supports its competitive moat and offers multiple avenues for future growth. Key things to monitor include reliance on a handful of blockbuster products, the impact of eventual patent expiries, ongoing regulatory and competitive pressures, and continued execution on its R&D pipeline. Overall, the data describe a well‑entrenched, innovation‑driven franchise in a niche of healthcare that has been both resilient and profitable over time.

NEWS

November 26, 2025 · 4:15 PM UTC

Zoetis Receives European Commission Marketing Authorization for Lenivia® (izenivetmab) to Reduce Pain Associated with Osteoarthritis (OA) in Dogs

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November 20, 2025 · 8:30 AM UTC

Zoetis to Participate in the Piper Sandler 37th Annual Healthcare Conference

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November 19, 2025 · 8:30 AM UTC

Zoetis to Host Innovation Webcast

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November 4, 2025 · 7:00 AM UTC

Zoetis Announces Third Quarter 2025 Results

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November 3, 2025 · 4:15 PM UTC

Zoetis Announces Retirement of Rob Polzer at the End of 2025 and the Appointment of Kevin Esch as President of Research & Development for World Leader in Animal Health Beginning in 2026

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