Zoetis Inc. (ZTS) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 2.26B | 2.39B | 2.4B | 2.46B | 2.22B | 2.32B | 2.39B | 2.36B | 2.19B | 2.21B | 2.15B | 2.18B | 2B | 2.04B | 2B | 2.05B | 1.99B | 1.97B | 1.99B | 1.95B |
| Revenue Growth % | 1.89% | 3.02% | 0.5% | 4.19% | 1.37% | 4.7% | 11.02% | 8.3% | 9.5% | 8.48% | 7.44% | 6.24% | 0.7% | 3.71% | 0.6% | 5.34% | 6.15% | 8.85% | 11.42% | 25.84% |
| Cost of Goods Sold | 641M | 743M | 715M | 682M | 654M | 741M | 736M | 703M | 680M | 765M | 676M | 644M | 625M | 688M | 644M | 662M | 610M | 640M | 626M | 609M |
| COGS % of Revenue | 28.34% | 31.13% | 29.79% | 27.72% | 29.46% | 31.98% | 30.82% | 29.78% | 31.05% | 34.57% | 31.43% | 29.54% | 31.25% | 33.73% | 32.17% | 32.26% | 30.71% | 32.54% | 31.46% | 31.26% |
| Gross Profit | 1.62B | 1.64B | 1.69B | 1.78B | 1.57B | 1.58B | 1.65B | 1.66B | 1.51B | 1.45B | 1.48B | 1.54B | 1.38B | 1.35B | 1.36B | 1.39B | 1.38B | 1.33B | 1.36B | 1.34B |
| Gross Margin % | 71.66% | 68.87% | 70.21% | 72.28% | 70.54% | 68.02% | 69.18% | 70.22% | 68.95% | 65.43% | 68.57% | 70.46% | 68.75% | 66.27% | 67.83% | 67.74% | 69.28% | 67.46% | 68.54% | 68.74% |
| Gross Profit Growth % | 3.51% | 4.31% | 2% | 7.24% | 3.71% | 8.84% | 12% | 7.94% | 9.82% | 7.1% | 8.62% | 10.5% | -0.07% | 1.88% | -0.44% | 3.81% | 7.33% | 13.81% | 13.67% | 26.68% |
| Operating Expenses | 799M | 818M | 749M | 789M | 720M | 811M | 732M | 752M | 709M | 739M | 677M | 702M | 647M | 662M | 635M | 664M | 587M | 731M | 636M | 615M |
| OpEx % of Revenue | 35.32% | 34.27% | 31.21% | 32.07% | 32.43% | 35% | 30.65% | 31.85% | 32.37% | 33.39% | 31.47% | 32.2% | 32.35% | 32.45% | 31.72% | 32.36% | 29.56% | 37.16% | 31.96% | 31.57% |
| Selling, General & Admin | 588M | 619M | 579M | 617M | 563M | 625M | 565M | 581M | 547M | 565M | 525M | 556M | 505M | 514M | 501M | 529M | 465M | 593M | 504M | 495M |
| SG&A % of Revenue | 25.99% | 25.93% | 24.13% | 25.08% | 25.36% | 26.97% | 23.66% | 24.61% | 24.98% | 25.53% | 24.41% | 25.5% | 25.25% | 25.2% | 25.02% | 25.78% | 23.41% | 30.15% | 25.33% | 25.41% |
| Research & Development | 180M | 199M | 170M | 172M | 157M | 186M | 167M | 171M | 162M | 174M | 152M | 146M | 142M | 148M | 134M | 135M | 122M | 138M | 132M | 120M |
| R&D % of Revenue | 7.96% | 8.34% | 7.08% | 6.99% | 7.07% | 8.03% | 6.99% | 7.24% | 7.4% | 7.86% | 7.07% | 6.7% | 7.1% | 7.25% | 6.69% | 6.58% | 6.14% | 7.02% | 6.63% | 6.16% |
| Other Operating Expenses | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 822M | 826M | 936M | 989M | 846M | 765M | 920M | 906M | 801M | 709M | 798M | 834M | 728M | 690M | 723M | 726M | 789M | 596M | 728M | 724M |
| Operating Margin % | 36.34% | 34.6% | 39% | 40.2% | 38.11% | 33.02% | 38.53% | 38.37% | 36.58% | 32.04% | 37.1% | 38.26% | 36.4% | 33.82% | 36.11% | 35.38% | 39.73% | 30.3% | 36.58% | 37.17% |
| Operating Income Growth % | -2.84% | 7.97% | 1.74% | 9.16% | 5.62% | 7.9% | 15.29% | 8.63% | 10.03% | 2.75% | 10.37% | 14.88% | -7.73% | 15.77% | -0.69% | 0.28% | 4.5% | 16.18% | 9.64% | 30.92% |
| EBITDA | 941M | 947M | 1.06B | 1.11B | 965M | 888M | 1.04B | 1.03B | 927M | 835M | 922M | 955M | 848M | 809M | 838M | 843M | 903M | 713M | 838M | 836M |
| EBITDA Margin % | 41.6% | 39.67% | 44.17% | 45.2% | 43.47% | 38.33% | 43.59% | 43.75% | 42.33% | 37.73% | 42.86% | 43.81% | 42.4% | 39.66% | 41.86% | 41.08% | 45.47% | 36.25% | 42.11% | 42.92% |
| EBITDA Growth % | -2.49% | 6.64% | 1.83% | 7.65% | 4.1% | 6.35% | 12.91% | 8.17% | 9.32% | 3.21% | 10.02% | 13.29% | -6.09% | 13.46% | 0% | 0.84% | 4.51% | 14.63% | 8.13% | 25.9% |
| D&A (Non-Cash Add-back) | 119M | 121M | 124M | 123M | 119M | 123M | 121M | 127M | 126M | 126M | 124M | 121M | 120M | 119M | 115M | 117M | 114M | 117M | 110M | 112M |
| EBIT | 822M | 826M | 945M | 960M | 869M | 788M | 935M | 843M | 809M | 709M | 780M | 935M | 765M | 659M | 724M | 727M | 783M | 563M | 718M | 696M |
| Net Interest Income | -41M | -32M | -38M | -39M | -36M | -29M | -38M | -39M | -30M | -33M | -40M | -40M | -35M | -37M | -44M | -52M | -54M | -55M | -58M | -58M |
| Interest Income | 21M | 25M | 26M | 19M | 23M | 27M | 23M | 24M | 32M | 26M | 23M | 23M | 33M | 30M | 13M | 5M | 2M | 2M | 1M | 2M |
| Interest Expense | 62M | 57M | 64M | 58M | 59M | 56M | 61M | 63M | 62M | 59M | 63M | 63M | 68M | 67M | 57M | 57M | 56M | 57M | 59M | 60M |
| Other Income/Expense | -64M | -65M | -49M | -87M | -36M | -33M | -46M | -126M | -54M | -59M | -81M | 38M | -31M | -98M | -56M | -56M | -62M | -90M | -69M | -88M |
| Pretax Income | 758M | 761M | 887M | 902M | 810M | 732M | 874M | 780M | 747M | 650M | 717M | 872M | 697M | 592M | 667M | 670M | 727M | 506M | 659M | 636M |
| Pretax Margin % | 33.51% | 31.88% | 36.96% | 36.67% | 36.49% | 31.59% | 36.6% | 33.04% | 34.11% | 29.37% | 33.33% | 40% | 34.85% | 29.02% | 33.32% | 32.65% | 36.61% | 25.72% | 33.12% | 32.65% |
| Income Tax | 157M | 158M | 166M | 184M | 179M | 151M | 182M | 156M | 148M | 127M | 121M | 202M | 146M | 132M | 139M | 141M | 133M | 93M | 107M | 125M |
| Effective Tax Rate % | 20.71% | 20.76% | 18.71% | 20.4% | 22.1% | 20.63% | 20.82% | 20% | 19.81% | 19.54% | 16.88% | 23.17% | 20.95% | 22.3% | 20.84% | 21.04% | 18.29% | 18.38% | 16.24% | 19.65% |
| Net Income | 601M | 603M | 721M | 718M | 631M | 581M | 682M | 624M | 599M | 525M | 596M | 671M | 552M | 461M | 529M | 529M | 595M | 414M | 552M | 512M |
| Net Margin % | 26.57% | 25.26% | 30.04% | 29.19% | 28.42% | 25.08% | 28.56% | 26.43% | 27.35% | 23.72% | 27.71% | 30.78% | 27.6% | 22.6% | 26.42% | 25.78% | 29.96% | 21.05% | 27.74% | 26.28% |
| Net Income Growth % | -4.75% | 3.79% | 5.72% | 15.06% | 5.34% | 10.67% | 14.43% | -7% | 8.51% | 13.88% | 12.67% | 26.84% | -7.23% | 11.35% | -4.17% | 3.32% | 6.44% | 15.32% | 15.24% | 35.81% |
| Net Income (Continuing) | 601M | 603M | 721M | 718M | 631M | 581M | 692M | 624M | 599M | 523M | 596M | 670M | 551M | 460M | 528M | 529M | 594M | 413M | 552M | 511M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -6M | -6M | -6M | -4M | -4M | -3M | -2M | -1M | 0 | 0 | 1M | 2M | 2M |
| EPS (Diluted) | 1.42 | 1.37 | 1.63 | 1.61 | 1.41 | 1.29 | 1.50 | 1.37 | 1.31 | 1.14 | 1.29 | 1.45 | 1.19 | 0.99 | 1.13 | 1.12 | 1.26 | 0.87 | 1.16 | 1.07 |
| EPS Growth % | 0.71% | 6.2% | 8.67% | 17.52% | 7.63% | 13.16% | 16.28% | -5.52% | 10.08% | 15.15% | 14.16% | 29.46% | -5.56% | 13.79% | -2.59% | 4.67% | 7.69% | 16% | 16% | 35.44% |
| EPS (Basic) | 1.42 | 1.38 | 1.63 | 1.61 | 1.41 | 1.29 | 1.51 | 1.37 | 1.31 | 1.14 | 1.29 | 1.45 | 1.19 | 0.99 | 1.13 | 1.13 | 1.26 | 0.88 | 1.16 | 1.08 |
| Diluted Shares Outstanding | 422.4M | 438.6M | 443.2M | 445.5M | 448M | 451.1M | 453.5M | 456M | 458.8M | 460.1M | 461.4M | 462.9M | 464.6M | 466.8M | 469.1M | 471.5M | 474.1M | 475.6M | 476.3M | 477M |
| Basic Shares Outstanding | 422.1M | 438.2M | 442.9M | 445.1M | 447.6M | 450.5M | 452.9M | 455.5M | 458M | 459M | 460.3M | 461.9M | 463.5M | 465.6M | 467.8M | 470M | 472.2M | 473.1M | 474M | 474.8M |
| Dividend Payout Ratio | 37.27% | 36.48% | 30.79% | 31.06% | 35.5% | 33.39% | 28.89% | 31.57% | 33.06% | 32.76% | 29.03% | 25.78% | 31.52% | 32.75% | 28.92% | 28.92% | 25.88% | 28.26% | 21.56% | 23.24% |