Saturday 17 October 2026
Export ZTS’s income statement to Excel — free account
Zoetis Inc.
ZTS Healthcare Drug Manufacturers Specialty & Generic
Zoetis Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.5 billion, up 2.28% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 2.48%, free cash flow grew 17.4% and total debt rose 37.5%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for ten; insiders bought in the last twelve months.
79.20
0.78
+0.99%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
32.48 | 40.78 | 29.00 | 42.15 | 48.11 | 56.75 | 32.56 | 38.77 | 29.73 | 20.87 |
Piotroski F-Score |
7 | 8 | 6 | 6 | 7 | 9 | 4 | 9 | 8 | 7 |
P/S ratio |
5.43 | 6.63 | 7.09 | 10.11 | 11.79 | 14.89 | 8.52 | 10.61 | 8.00 | 5.89 |
Altman Z-Score |
4.46 | 5.17 | 4.79 | 6.26 | 6.80 | 9.79 | 6.26 | 8.59 | 7.51 | 5.73 |
Altman Z″-Score (non-manufacturers) |
4.06 | 4.79 | 4.37 | 4.42 | 5.00 | 5.93 | 5.54 | 6.45 | 6.04 | 6.66 |
P/FCF ratio |
45.26 | 30.34 | 27.40 | 46.67 | 46.46 | 66.60 | 51.89 | 55.92 | 32.20 | 24.44 |
Beneish M-Score |
(2.39) | (2.67) | (2.51) | (2.58) | (2.76) | (2.44) | (2.38) | (2.36) | (2.61) | (2.45) |
P/Operating CF |
92.89 | 57.83 | 70.76 | 108.73 | 109.60 | 170.48 | 92.92 | 101.06 | 81.77 | 62.48 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 88 |
P/B ratio |
17.72 | 19.69 | 18.91 | 23.37 | 20.86 | 25.47 | 15.64 | 18.16 | 15.51 | 16.34 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 298.34 | 248.58 | 101.40 | 80.53 | 0.00 |
EV/Sales |
6.20 | 7.41 | 7.91 | 10.83 | 12.33 | 15.29 | 9.06 | 11.14 | 8.49 | 6.73 |
EV/EBITDA |
18.55 | 20.24 | 20.90 | 27.83 | 30.84 | 37.63 | 21.90 | 25.96 | 20.39 | 15.66 |
EV/Operating CF |
42.51 | 29.20 | 25.74 | 37.77 | 38.71 | 53.73 | 38.27 | 40.45 | 26.61 | 21.95 |
EV/FCF |
51.64 | 33.91 | 30.55 | 50.00 | 48.58 | 68.41 | 55.15 | 58.72 | 34.20 | 27.92 |
Quick Ratio |
1.47 | 2.34 | 2.24 | 1.67 | 2.13 | 2.57 | 1.51 | 1.77 | 0.97 | 1.75 |
Current Ratio |
3.03 | 3.85 | 3.60 | 2.63 | 3.05 | 3.86 | 2.37 | 3.36 | 1.75 | 3.03 |
Net Debt/EBITDA |
2.29 | 1.75 | 2.16 | 1.85 | 1.35 | 1.00 | 1.29 | 1.23 | 1.19 | 1.65 |
Debt/Assets |
58.41% | 57.69% | 59.87% | 55.84% | 52.90% | 47.72% | 52.96% | 45.97% | 46.15% | 58.46% |
Debt/Equity |
2.98 | 2.77 | 2.95 | 2.38 | 1.91 | 1.46 | 1.80 | 1.32 | 1.38 | 2.71 |
Asset Turnover |
0.63 | 0.65 | 0.60 | 0.56 | 0.53 | 0.57 | 0.56 | 0.59 | 0.65 | 0.64 |
Operating CF/Net income |
0.87 | 1.56 | 1.25 | 1.20 | 1.30 | 1.09 | 0.90 | 1.00 | 1.19 | 1.09 |
Capex/Depreciation |
(0.52) | (0.77) | (0.92) | (1.07) | (0.98) | (1.06) | (1.26) | (1.49) | (1.32) | (1.28) |
Interest Coverage |
8.40 | 9.71 | 9.20 | 9.08 | 9.64 | 12.11 | 13.02 | 13.28 | 14.92 | 16.14 |
| 63.40% | 52.60% | 71.92% | 61.31% | 50.55% | 48.98% | 47.26% | 49.90% | 50.94% | 65.99% | |
| 10.55% | 10.64% | 14.75% | 13.44% | 13.02% | 14.81% | 14.67% | 16.05% | 17.43% | 18.00% | |
ROIC |
14.65% | 18.42% | 15.23% | 15.59% | 16.93% | 20.22% | 19.02% | 19.28% | 20.94% | 20.87% |
Return on Tangible Assets |
22.47% | 18.96% | 29.54% | 30.73% | 24.66% | 26.96% | 29.81% | 30.61% | 41.68% | 32.54% |
Average Days of Receivables |
68.18 | 68.64 | 64.92 | 63.32 | 55.39 | 53.18 | 54.89 | 55.71 | 51.90 | 61.30 |
Research and Development Expense of Revenue |
7.69% | 7.20% | 7.42% | 7.30% | 6.94% | 6.53% | 6.67% | 7.19% | 7.41% | 7.37% |
Selling, General and Administrative Expense of Revenue |
27.91% | 25.14% | 25.48% | 26.17% | 25.86% | 25.73% | 24.86% | 25.18% | 25.04% | 25.12% |
Intangible Assets out of Total Assets |
0.35 | 0.32 | 0.42 | 0.39 | 0.32 | 0.30 | 0.28 | 0.29 | 0.27 | 0.24 |
Share Based Compensation of Revenue |
0.76% | 0.83% | 0.91% | 1.07% | 0.88% | 0.75% | 0.77% | 0.70% | 0.80% | 0.88% |
Graham Net Nets |
(0.10) | (0.07) | (0.10) | (0.06) | (0.04) | (0.02) | (0.04) | (0.03) | (0.05) | (0.09) |
Graham Number |
10.60 | 12.02 | 17.33 | 20.00 | 24.78 | 30.44 | 30.87 | 35.14 | 35.98 | 32.32 |
Earnings Yield |
3.08% | 2.45% | 3.45% | 2.37% | 2.08% | 1.76% | 3.07% | 2.58% | 3.36% | 4.79% |
Free Cash Flow Yield |
2.21% | 3.30% | 3.65% | 2.14% | 2.15% | 1.50% | 1.93% | 1.79% | 3.11% | 4.09% |
Revenue per Share |
9.86 | 10.83 | 12.06 | 13.09 | 14.04 | 16.39 | 17.23 | 18.53 | 20.38 | 21.35 |
Operating CF per Share |
1.44 | 2.75 | 3.71 | 3.75 | 4.47 | 4.67 | 4.08 | 5.10 | 6.50 | 6.55 |
Capex per Share |
(0.25) | (0.38) | (0.58) | (0.92) | (0.91) | (1.00) | (1.25) | (1.59) | (1.44) | (1.40) |
Free Cash Flow per Share |
1.18 | 2.37 | 3.12 | 2.84 | 3.56 | 3.66 | 2.83 | 3.52 | 5.06 | 5.15 |
Cash per Share |
1.47 | 3.19 | 3.52 | 4.04 | 7.58 | 7.35 | 7.64 | 4.43 | 4.37 | 5.21 |
Shareholders Equity per Share |
3.02 | 3.65 | 4.52 | 5.66 | 7.93 | 9.58 | 9.39 | 10.82 | 10.50 | 7.51 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
3.02 | 3.65 | 4.52 | 5.66 | 7.93 | 9.58 | 9.39 | 10.82 | 10.50 | 7.51 |
Free Cash Flow |
587.00 | 1,159.00 | 1,508.00 | 1,356.00 | 1,694.00 | 1,738.00 | 1,327.00 | 1,621.00 | 2,298.00 | 2,283.00 |
Working Capital |
2,273.00 | 3,123.00 | 3,176.00 | 2,942.00 | 4,441.00 | 5,133.00 | 4,339.00 | 4,454.00 | 2,574.00 | 4,533.00 |
Capital Expenditures |
(126.00) | (187.00) | (282.00) | (439.00) | (432.00) | (475.00) | (585.00) | (732.00) | (655.00) | (621.00) |
Net Current Asset Value |
(2,760.00) | (2,583.00) | (4,193.00) | (4,089.00) | (3,225.00) | (2,426.00) | (3,016.00) | (2,952.00) | (3,481.00) | (5,368.00) |
EV/EBIT |
21.74 | 23.12 | 24.30 | 33.49 | 36.95 | 43.84 | 25.44 | 29.98 | 23.40 | 17.79 |
Capex to Sales |
0.03 | 0.04 | 0.05 | 0.07 | 0.06 | 0.06 | 0.07 | 0.09 | 0.07 | 0.07 |
Price to Operating Income |
21.63 | 23.06 | 24.45 | 35.14 | 39.43 | 46.53 | 25.92 | 30.88 | 23.62 | 16.61 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.17 | 0.17 | 0.19 | 0.21 | 0.20 | 0.19 | 0.17 | 0.15 | 0.15 | 0.13 |
Cash ROIC |
8.77% | 13.96% | 14.59% | 12.23% | 11.62% | 11.85% | 8.35% | 11.92% | 17.24% | 15.55% |
Accounts Receivable Turnover |
5.28 | 5.55 | 5.73 | 5.90 | 6.36 | 7.25 | 6.88 | 6.78 | 7.07 | 6.52 |
Accounts Payable Turnover |
5.97 | 6.75 | 6.66 | 6.49 | 5.43 | 5.16 | 5.84 | 6.28 | 6.44 | 5.80 |
Inventory Turnover |
1.12 | 1.21 | 1.36 | 1.42 | 1.35 | 1.30 | 1.15 | 1.04 | 1.12 | 1.13 |
Average Days of Payables |
58.06 | 53.67 | 59.78 | 55.15 | 81.09 | 69.10 | 60.24 | 58.58 | 58.13 | 66.67 |
Days of Inventory on Hand |
329.07 | 293.44 | 265.68 | 258.36 | 288.88 | 304.77 | 348.79 | 365.43 | 309.56 | 332.69 |
Average Receivables |
925.00 | 955.50 | 1,017.00 | 1,061.00 | 1,049.50 | 1,073.00 | 1,174.00 | 1,259.50 | 1,310.00 | 1,453.00 |
Average Payables |
279.00 | 263.00 | 287.00 | 307.00 | 379.00 | 446.50 | 420.50 | 408.00 | 422.00 | 460.00 |
Average Inventory |
1,484.50 | 1,464.50 | 1,409.00 | 1,400.50 | 1,519.00 | 1,775.50 | 2,134.00 | 2,454.50 | 2,435.00 | 2,368.00 |
Average Assets |
7,781.00 | 8,117.50 | 9,681.50 | 11,161.00 | 12,577.00 | 13,754.50 | 14,412.50 | 14,605.50 | 14,261.50 | 14,852.00 |
Average Common Equity |
1,295.00 | 1,642.50 | 1,985.50 | 2,446.50 | 3,240.50 | 4,158.50 | 4,473.50 | 4,697.00 | 4,880.50 | 4,050.50 |
Columns are period end dates