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Zoetis Inc (ZTS) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · Pharmaceuticals · DATA UPDATED 2026-07-15

Zoetis Inc (ZTS) operates in the Pharmaceuticals industry and is headquartered in Parsippany, United States with about 14,500 employees. Its market capitalization is roughly $32 billion. In the fiscal year ended 2025-12-31, ZTS reported $9.5B in revenue and $2.7B in net income.

Zoetis Inc. engages in the discovery, development, manufacture, and commercialization of medicines, vaccines, diagnostic products and services, biodevices, genetic tests, and precision animal health solutions for the animal health industry in the United States and internationally.

Interactive charts & full statements → Open the ZTS valuation workbench →

ZTS Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31
Total Revenue	$9.5B	$9.5B	$9.3B	$8.5B	$8.1B	$7.8B	$6.7B	$6.3B	$5.8B	$5.3B	$4.9B	$4.8B	$4.8B	$4.6B	$4.3B	$4.2B	$3.6B	$2.8B
Gross Profit	$6.7B	$6.7B	$6.4B	$5.8B	$5.5B	$5.3B	$4.5B	$4.1B	$3.8B	$3.4B	$3.1B	$3.0B	$3.0B	$2.8B	$2.7B	$2.5B	$2.1B	$1.7B
Gross Margin %	70.8%	70.5%	69.1%	68.3%	67.8%	68.3%	66.8%	65.7%	65.2%	64.9%	64.3%	62.3%	62.9%	62.1%	62.7%	60.0%	58.2%	61.7%
Operating Income (EBIT)	$3.6B	$3.6B	$3.4B	$3.1B	$2.9B	$2.8B	$2.3B	$2.0B	$1.9B	$1.7B	$1.4B	$1.1B	$970M	$821M	$854M	$684M	$309M	$281M
Operating Margin %	37.6%	38.0%	36.6%	35.9%	36.2%	36.0%	34.0%	32.2%	32.3%	32.5%	28.7%	22.7%	20.3%	18.0%	19.7%	16.2%	8.6%	10.2%
Net Income	$2.6B	$2.7B	$2.5B	$2.3B	$2.1B	$2.0B	$1.6B	$1.5B	$1.4B	$864M	$821M	$339M	$583M	$504M	$436M	$245M	$110M	($100M)
Net Margin %	27.8%	28.2%	26.9%	27.4%	26.2%	26.2%	24.5%	24.0%	24.5%	16.3%	16.8%	7.1%	12.2%	11.1%	10.1%	5.8%	3.1%	-3.6%
EBITDA	$4.0B	$4.1B	$3.9B	$3.7B	$3.4B	$3.2B	$2.7B	$2.5B	$2.2B	$1.9B	$1.6B	$868M	$1.1B	$1.0B	$941M	$635M	$400M	$2M
Earnings Per Share (EPS)	$6.04	$6.02	$5.47	$5.07	$4.49	$4.27	$3.42	$3.11	$2.93	$1.75	$1.65	$0.68	$1.16	$1.01	$0.87	$0.51	$0.23	$-0.21
Shares Outstanding (M)	422M	444M	455M	462M	470M	477M	479M	482M	487M	493M	498M	502M	502M	500M	500M	482M	482M	482M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ZTS Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$2.3B	$2.4B	$2.4B	$2.5B	$2.2B	$2.3B	$2.4B	$2.4B
Gross Profit	$1.6B	$1.6B	$1.7B	$1.8B	$1.6B	$1.6B	$1.7B	$1.7B
Gross Margin %	71.7%	68.9%	70.2%	72.3%	70.5%	68.0%	69.2%	70.2%
Operating Income (EBIT)	$822M	$826M	$936M	$989M	$846M	$765M	$920M	$906M
Operating Margin %	36.3%	34.6%	39.0%	40.2%	38.1%	33.0%	38.5%	38.4%
Net Income	$601M	$603M	$721M	$718M	$631M	$581M	$682M	$624M
Net Margin %	26.6%	25.3%	30.0%	29.2%	28.4%	25.1%	28.6%	26.4%
EBITDA	$939M	$939M	$1.1B	$1.1B	$988M	$911M	$1.1B	$970M
Earnings Per Share (EPS)	$1.42	$1.37	$1.63	$1.61	$1.41	$1.29	$1.50	$1.37
Shares Outstanding (M)	422M	439M	443M	446M	448M	451M	454M	456M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ZTS Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31
Cash from Operations (CFO)	$2.7B	$2.9B	$3.0B	$2.4B	$1.9B	$2.2B	$2.1B	$1.8B	$1.8B	$1.3B	$713M	$664M	$626M	$681M	$454M	$497M	$254M	$98M
Capital Expenditures (CapEx)	$582M	$621M	$655M	$732M	$586M	$477M	$453M	$460M	$338M	$224M	$216M	$224M	$195M	$184M	$126M	$135M	$124M	$135M
Free Cash Flow (FCF)	$2.1B	$2.3B	$2.3B	$1.6B	$1.3B	$1.7B	$1.7B	$1.3B	$1.5B	$1.1B	$497M	$440M	$431M	$497M	$328M	$362M	$130M	($37M)
FCF Margin %	22.5%	24.1%	24.8%	19.0%	16.4%	22.3%	25.1%	21.3%	24.9%	21.1%	10.2%	9.2%	9.0%	10.9%	7.6%	8.6%	3.6%	-1.3%
Dividends Paid	$889M	$889M	$786M	$692M	$611M	$474M	$380M	$314M	$243M	$206M	$188M	$168M	$146M	$98M	$63M	$416M	$207M	$101M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ZTS Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$401M	$893M	$938M	$486M	$587M	$905M	$951M	$502M
Capital Expenditures (CapEx)	$110M	$161M	$133M	$178M	$149M	$216M	$167M	$132M
Free Cash Flow (FCF)	$291M	$732M	$805M	$308M	$438M	$689M	$784M	$370M
FCF Margin %	12.9%	30.7%	33.5%	12.5%	19.7%	29.7%	32.8%	15.7%
Dividends Paid	$224M	$220M	$222M	$223M	$224M	$194M	$197M	$197M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ZTS Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31
Total Assets	$15.2B	$15.5B	$14.2B	$14.3B	$14.9B	$13.9B	$13.6B	$11.5B	$10.8B	$8.6B	$7.6B	$7.9B	$6.6B	$6.6B	$6.3B	$5.7B	$5.3B
Cash & Cash Equivalents	$1.9B	$2.3B	$2.0B	$2.0B	$3.6B	$3.5B	$3.6B	$1.9B	$1.6B	$1.6B	$727M	$1.2B	$882M	$610M	$317M	$79M	$63M
Total Liabilities	$11.9B	$12.1B	$9.5B	$9.3B	$10.5B	$9.4B	$9.8B	$8.8B	$8.6B	$6.8B	$6.2B	$6.8B	$5.3B	$5.6B	$2.2B	$2.0B	$1.9B
Total Debt (Short + Long-Term)	$9.0B	$9.1B	$6.6B	$6.6B	$7.9B	$6.6B	$7.2B	$6.4B	$6.5B	$9.9B	$8.9B	$4.9B	$3.6B	$3.7B	$582M	$575M	$711M
Total Shareholders' Equity	$3.2B	$3.3B	$4.8B	$5.0B	$4.4B	$4.5B	$3.8B	$2.7B	$2.2B	$1.8B	$1.5B	$1.1B	$1.3B	$940M	$4.0B	$3.7B	$3.3B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive ZTS viewer.

Other Companies in Pharmaceuticals

JNJ · Johnson & Johnson — $635 billion
MRK · Merck & Co. — $324 billion
PFE · Pfizer — $140 billion
BMY · Bristol Myers Squibb — $127 billion
VTRS · Viatris — $20 billion
LLY · Lilly (Eli) — $1.07 trillion

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