ZTS (Zoetis Inc.) Stock Financials & Earnings | Market Cap Arena

ZTS (Zoetis Inc.) Stock Financials & Earnings | Market Cap Arena

ZTSZoetis Inc.

Mkt Cap$54B

Healthcare·Drug Manufacturers - Specialty & Generic·🇺🇸 United States·NYSE

Revenue (TTM)$9.5B

Net Income (TTM)$2.7B

EPS (TTM)$6.02

Free Cash Flow (TTM)$2.3B

Gross Margin70.5%

Op. Margin38.0%

Net Margin28.2%

FCF Margin24.1%

P/S Ratio (TTM)5.7x

P/E Ratio (TTM)20.2x

YoY Rev Growth+2.3%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$2.0B	$1.4B	$728M
Q2 23	$2.2B	$1.5B	$834M
Q3 23	$2.2B	$1.5B	$798M
Q4 23	$2.2B	$1.4B	$709M
Q1 24	$2.2B	$1.5B	$801M
Q2 24	$2.4B	$1.7B	$906M
Q3 24	$2.4B	$1.7B	$920M
Q4 24	$2.3B	$1.6B	$765M
Q1 25	$2.2B	$1.6B	$846M
Q2 25	$2.5B	$1.8B	$989M
Q3 25	$2.4B	$1.7B	$936M
Q4 25	$2.4B	$1.6B	$826M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	6.7x	26.0x
Q2 23	6.6x	24.3x
Q3 23	6.4x	23.6x
Q4 23	6.3x	23.0x
Q1 24	6.2x	22.5x
Q2 24	6.0x	23.0x
Q3 24	5.9x	22.2x
Q4 24	5.8x	21.7x
Q1 25	5.8x	21.4x
Q2 25	5.7x	20.6x
Q3 25	5.7x	20.3x
Q4 25	5.7x	20.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$549M	$326M
Q2 23	$183M	$17M
Q3 23	$724M	$579M
Q4 23	$897M	$699M
Q1 24	$595M	$455M
Q2 24	$502M	$370M
Q3 24	$951M	$784M
Q4 24	$905M	$689M
Q1 25	$587M	$438M
Q2 25	$486M	$308M
Q3 25	$938M	$805M
Q4 25	$893M	$732M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$223M
Q2 23	$166M
Q3 23	$145M
Q4 23	$198M
Q1 24	$140M
Q2 24	$132M
Q3 24	$167M
Q4 24	$216M
Q1 25	$149M
Q2 25	$178M
Q3 25	$133M
Q4 25	$161M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+0.7%	+6.3%
Q2 23	+6.2%	+1.5%
Q3 23	+7.4%	+5.8%
Q4 23	+8.5%	+11.4%
Q1 24	+9.5%	+9.2%
Q2 24	+8.3%	+8.1%
Q3 24	+11.0%	+8.5%
Q4 24	+4.7%	+3.2%
Q1 25	+1.4%	-1.1%
Q2 25	+4.2%	+1.1%
Q3 25	+0.5%	-0.3%
Q4 25	+3.0%	+0.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$9M	0.4%
Q2 23	$17M	0.8%
Q3 23	$17M	0.8%
Q4 23	$17M	0.8%
Q1 24	$18M	0.8%
Q2 24	$19M	0.8%
Q3 24	$18M	0.8%
Q4 24	$19M	0.8%
Q1 25	$17M	0.8%
Q2 25	$22M	0.9%
Q3 25	$22M	0.9%
Q4 25	$22M	0.9%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 23	$142M	$505M
Q2 23	$146M	$556M
Q3 23	$152M	$525M
Q4 23	$174M	$565M
Q1 24	$162M	$547M
Q2 24	$171M	$581M
Q3 24	$167M	$565M
Q4 24	$186M	$625M
Q1 25	$157M	$563M
Q2 25	$172M	$617M
Q3 25	$170M	$579M
Q4 25	$199M	$619M

Revenue Segments

Quarter	Cattle	Dogs and Cats	Fish	Horses	Poultry	Swine
Q1 23	$399M	$1.2B	$49M	$72M	$139M	$142M
Q2 23	$329M	$1.4B	$52M	$65M	$131M	$133M
Q3 23	$374M	$1.4B	$57M	$60M	$127M	$129M
Q1 24	$391M	$1.4B	$45M	$66M	$139M	$127M
Q2 24	$350M	$1.6B	$62M	$68M	$132M	$130M
Q3 24	$391M	$1.6B	$70M	$58M	$139M	$131M
Q1 25	$358M	$1.5B	$53M	$65M	$106M	$111M
Q2 25	$320M	$1.7B	$74M	$72M	$103M	$119M
Q3 25	$399M	$1.6B	$78M	$66M	$106M	$111M

Revenue by Geography

Quarter	International Segment	United States Segment
Q1 23	$978M	$1.0B
Q2 23	$995M	$1.2B
Q3 23	$956M	$1.2B
Q4 23	$982M	$1.2B
Q1 24	$1.0B	$1.2B
Q2 24	$1.0B	$1.3B
Q3 24	$1.0B	$1.3B
Q4 24	$1.0B	$1.3B
Q1 25	$1.0B	$1.2B
Q2 25	$1.1B	$1.4B
Q3 25	$1.1B	$1.3B
Q4 25	$1.1B	$1.2B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$2.1B	$0	$2.1B
Q2 23	$1.7B	$0	$1.7B
Q3 23	$1.8B	$0	$1.8B
Q4 23	$2.0B	$0	$2.0B
Q1 24	$2.0B	$0	$2.0B
Q2 24	$1.6B	$0	$1.6B
Q3 24	$1.7B	$0	$1.7B
Q4 24	$2.0B	$0	$2.0B
Q1 25	$1.7B	$0	$1.7B
Q2 25	$1.4B	$0	$1.4B
Q3 25	$2.1B	$0	$2.1B
Q4 25	$2.3B	$0	$2.3B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	465M	-0.5%
Q2 23	463M	-0.4%
Q3 23	461M	-0.3%
Q4 23	460M	-0.3%
Q1 24	459M	-0.3%
Q2 24	456M	-0.6%
Q3 24	454M	-0.5%
Q4 24	451M	-0.5%
Q1 25	448M	-0.7%
Q2 25	446M	-0.6%
Q3 25	443M	-0.5%
Q4 25	439M	-1.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$4M	1K
FY 15	$529K	9K
FY 16	$543K	9K
FY 17	$577K	9K
FY 18	$583K	10K
FY 19	$591K	11K
FY 20	$591K	11K
FY 21	$643K	12K
FY 22	$586K	14K
FY 23	$606K	14K
FY 24	$671K	14K
FY 25	$653K	15K