Zoetis Inc.

ZTS 10-K · Q4 2025

ZTS Q4 2025 request

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Revenue 2,387 2,317 +3.0%
Show Product Lines breakouts
Animal health diagnostics 111 100 +11.0%
Anti-infectives 284 281 +1.1%
Cattle 415 399 +4.0%
Companion Animal 1,601 1,570 +2.0%
Companion Animal · International Segment 599 562 +6.6%
Companion Animal · United States Segment 1,002 1,008 -0.6%
Contract Manufacturing and Human Health Diagnostics [Member] 30 21 +42.9%
Dermatology [Member] 429 421 +1.9%
Dogs and Cats -4,479 -4,231 -5.9%
Fish 81 65 +24.6%
Horses 6,080 5,801 +4.8%
Livestock 756 726 +4.1%
Livestock · International Segment 522 477 +9.4%
Livestock · United States Segment 234 249 -6.0%
Manufactured Product Other 18 17 +5.9%
Medicated feed additives 12 51 -76.5%
Other non-pharmaceuticals 70 65 +7.7%
Other pharmaceuticals 188 180 +4.4%
Pain & Sedation 209 217 -3.7%
Parasiticides 542 519 +4.4%
Poultry 117 117 0.0%
Swine 125 128 -2.3%
Total Products and Services 2,357 2,296 +2.7%
Vaccines 512 462 +10.8%
Show Business Segments breakouts
International Segment · Operating Segments 278 243 +14.4%
International Segment · Operating Segments 1,121 1,039 +7.9%
United States Segment · Operating Segments 1,236 1,257 -1.7%
Show Geography breakouts
AU 84 80 +5.0%
BR 112 113 -0.9%
CA 80 75 +6.7%
CL 40 30 +33.3%
CN 50 65 -23.1%
DE 65 59 +10.2%
ES 37 30 +23.3%
FR 52 45 +15.6%
GB 89 84 +6.0%
IT 35 34 +2.9%
JP 39 38 +2.6%
MX 44 40 +10.0%
Other developed markets 182 151 +20.5%
Other emerging markets 212 195 +8.7%
Total Geographical Area 2,357 2,296 +2.7%
US 1,236 1,257 -1.7%
Cost of Revenue 712 707 +0.7%
Show Business Segments breakouts
International Segment · Operating Segments 365 336 +8.6%
United States Segment · Operating Segments 213 229 -7.0%
Selling, General & Administrative 619 625 -1.0%
Research And Development Expense Excluding Acquired In Process Cost 199 186 +7.0%
Amortization Of Intangible Assets Not Associated With Single Function 31 34 -8.8%
Restructuring Charges And Acquisition And Divestiture Related Costs 17 2 +750.0%
Interest Expense 57 51 +11.8%
Non-Operating Income (Expense) -9 -20 +55.0%
Show Business Segments breakouts
International Segment · Operating Segments -3 -2 -50.0%
Income Before Taxes 761 732 +4.0%
Show Business Segments breakouts
All Other Segments -159 -151 -5.3%
International Segment · Operating Segments 574 523 +9.8%
United States Segment · Operating Segments 830 819 +1.3%
Show Consolidation Items breakouts
Corporate Non Segment -342 -320 -6.9%
Operating Segments 1,404 1,342 +4.6%
Income Tax Expense (Benefit) 158 151 +4.6%
Net Income 603 581 +3.8%
Show Equity Components breakouts
Retained Earnings 603 581 +3.8%
Net Income 603 581 +3.8%
EPS (Basic) 1.38 1.29 +7.0%
EPS (Diluted) 1.37 1.29 +6.2%
Wtd Avg Shares (Basic) -1.76 -1.2 -46.4%
Wtd Avg Shares (Diluted) -1.77 -1.25 -41.0%
Gross Profit (Q)
Show Business Segments breakouts
International Segment · Operating Segments 756 703 +7.5%
United States Segment · Operating Segments 1,023 1,028 -0.5%
Operating Expenses (Q)
Show Business Segments breakouts
International Segment · Operating Segments 183 180 +1.7%
United States Segment · Operating Segments 193 212 -9.0%
Other Non-Operating Income (Expense) 8 -1 +900.0%
Comprehensive Income 587 492 +19.3%
Foreign Currency Transaction Gain Loss Before Tax 10 8 +25.0%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 2024 YoY
Current Assets
Accounts Receivable 1,590 1,316 +20.8%
Inventory 2,430 2,306 +5.4%
Other Assets Current 436 377 +15.6%
Total Current Assets 6,768 5,986 +13.1%
Non-Current Assets
Property, Plant & Equipment 3,681 3,391 +8.6%
Show Geography breakouts
Non Us 1,225 1,142 +7.3%
US 2,456 2,249 +9.2%
Operating Lease Right-of-Use Assets 288 219 +31.5%
Goodwill 2,767 2,724 +1.6%
Show Geography breakouts
Non Us 1,252 1,209 +3.6%
US 1,515 1,515 0.0%
Deferred Tax Assets 637 540 +18.0%
Other Non-Current Assets 328 250 +31.2%
Total Assets 15,467 14,237 +8.6%
Intangible Assets 784 918 -14.6%
Show Finite Lived Intangible Assets By Major Class breakouts
Brands and tradenames 112 121 -7.4%
Developed Technology Rights 590 716 -17.6%
Other Intangible Assets 82 81 +1.2%
Other Assets
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 2,312 1,987 +16.4%
Intangible Assets Net Excluding Goodwill 998 1,127 -11.4%
Current Liabilities
Accounts Payable 487 433 +12.5%
Dividends Payable Current 232 224 +3.6%
Accrued Liabilities 852 746 +14.2%
Employee Related Liabilities Current 410 441 -7.0%
Taxes Payable Current 147 93 +58.1%
Other Liabilities Current 107 125 -14.4%
Total Current Liabilities 2,235 3,412 -34.5%
Non-Current Liabilities
Long-Term Debt 9,042 5,220 +73.2%
Deferred Tax Liabilities 139 167 -16.8%
Operating Lease Liabilities 196 174 +12.6%
Accrued Income Taxes Noncurrent 276 272 +1.5%
Other Non-Current Liabilities 248 222 +11.7%
Total Liabilities 12,136 9,467 +28.2%
Stockholders' Equity
Common Stock 5 5 0.0%
Treasury Stock Value -10,685 -7,445 -43.5%
Additional Paid-In Capital 1,101 1,182 -6.9%
Retained Earnings 13,744 11,968 +14.8%
Accumulated Other Comprehensive Income -834 -940 +11.3%
Total Stockholders' Equity 3,331 4,770 -30.2%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 3,331 4,770 -30.2%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment 2
Accumulated Gain Loss Net Cash Flow Hedge Parent 70 89 -21.3%
Accumulated Other Comprehensive Income -834 -940 +11.3%
Accumulated Other Comprehensive Income Loss Derivative Qualifying As Hedge Excluded Component Including Portion Attributable To Noncontrolling Interest -39 62 -162.9%
Accumulated Translation Adjustment -867 -1,091 +20.5%
Additional Paid In Capital 1,101 1,182 -6.9%
Common Stock 5 5 0.0%
Retained Earnings 13,744 11,968 +14.8%
Treasury Stock Common -10,685 -7,445 -43.5%
Total Liabilities & Equity 15,467 14,237 +8.6%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Depreciation & Amortization 121 123 -1.6%
Show Business Segments breakouts
All Other Segments 13 14 -7.1%
International Segment · Operating Segments 26 23 +13.0%
United States Segment · Operating Segments 23 20 +15.0%
Show Consolidation Items breakouts
Corporate Non Segment 26 32 -18.8%
Operating Segments 49 43 +14.0%
Stock-Based Compensation 22 19 +15.8%
Asset Impairment Charges 8 15 -46.7%
Inventory Write Down 16 26 -38.5%
Deferred Income Taxes -48 -152 +68.4%
Other Non-Cash Items 1 -17 +105.9%
Change in Accounts Receivable -52 73 -171.2%
Change in Inventory 13 73 -82.2%
Increase Decrease In Other Operating Assets 10 66 -84.8%
Change in Accounts Payable 76 26 +192.3%
Increase Decrease In Other Operating Liabilities 88 78 +12.8%
Increase Decrease In Accrued Taxes Payable 35 -7 +600.0%
Net Cash from Operations 893 905 -1.3%
Investing Activities
Capital Expenditures -161 -216 +25.5%
Payments To Acquire Business Two Net Of Cash Acquired -14 0
Payments To Acquire Investments -1 -1 0.0%
Payments For Proceeds From Hedge Investing Activities 12 51 -76.5%
Other Investing Activities -1 0
Net Cash from Investing -166 126 -231.7%
Financing Activities
Share Based Compensation Related Proceeds Net Of Taxes Paid On Withholding Shares 1 2 -50.0%
Share Repurchases -2,060 -553 -272.5%
Payments Of Ordinary Dividends -220 -194 -13.4%
Net Cash from Financing -495 -745 +33.6%
Supplemental
Income Taxes Paid 133 235 -43.4%
Interest Paid 36 69 -47.8%
Unpaid Capital Expenditures 1 -1 +200.0%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents -4 -13 +69.2%
Net Change in Cash 228 273 -16.5%

Values in millions USD. Source: SEC EDGAR 10-K filing.

This table is rendered from the same JSON returned by /api/financials.

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