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Zoetis (ZTS)
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Zoetis Income Statement 2025-2010 | ZTS
Brief overview of profit and loss at Zoetis
The figures are compared over a five-year interval. According to figures from Zoetis, revenue changed from $6.7 billion to $9.5 billion over five years. Across the full period, sales moved by +41.8%; the average annual rate was 7.2%. The direction is positive, but the growth rate is not particularly high.
Gross profit was 4.6 billion dollars at the start and 6.8 billion dollars at the end of the period (+47.3%). Direct costs grew more slowly than revenue and improved the economics of sales. Gross profit as a share of revenue changed from 69.2% to 71.8%. The business retained more gross profit from each unit of revenue.
The five-year EBITDA result moved by +10.4%: from 441 million dollars to 487 million dollars. Operating performance weakened relative to revenue. EBITDA margin moved from 6.6% to 5.1%. Operating profitability remained broadly stable.
Over the period, net income shifted from 1.6 billion dollars to 2.7 billion dollars (+63.2%). The period finished with its strongest net-income result.
The five-year change in capitalization reached −23%: from 72.8 billion dollars to 56.1 billion dollars. The market has not yet confirmed the improvement in fundamentals.
Financial takeaway
The figures do not all move in the same direction. Key strengths include a stronger final result, sales growth and improving gross profitability. The most visible risks are weaker operating efficiency and lower investor confidence. Further direction will depend on top-line growth, operating profitability, and net income.
Annual Income Statement Zoetis
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
56.1 B | 75.2 B | 84.4 B | 80.7 B | 94.6 B | 72.8 B | 66 B | 41.1 B | 38.4 B | 26.9 B | 21.5 B | 21.4 B | 15.3 B | - | - | - |
Shares |
443 M | 454 M | 461 M | 469 M | 474 M | 476 M | 478 M | 483 M | 490 M | 496 M | 500 M | 501 M | 500 M | - | - | - |
Historical Prices |
126 | 165 | 183 | 172 | 199 | 153 | 133 | 84.4 | 74.7 | 53.1 | 41.3 | 40.7 | 28.6 | - | - | - |
Net Income |
2.67 B | 2.49 B | 2.34 B | 2.11 B | 2.04 B | 1.64 B | 1.5 B | 1.43 B | 864 M | 821 M | 339 M | 583 M | 504 M | 436 M | 245 M | - |
Revenue |
9.47 B | 9.26 B | 8.54 B | 8.08 B | 7.78 B | 6.68 B | 6.26 B | 5.82 B | 5.31 B | 4.89 B | 4.76 B | 4.78 B | 4.56 B | 4.34 B | 4.23 B | - |
Cost of Revenue |
2.67 B | 2.72 B | 2.56 B | 2.45 B | 2.3 B | 2.06 B | 1.99 B | 1.91 B | 1.78 B | 1.67 B | 1.74 B | 1.72 B | 1.67 B | 1.56 B | 1.65 B | - |
Gross Profit |
6.8 B | 6.54 B | 5.98 B | 5.63 B | 5.47 B | 4.62 B | 4.27 B | 3.91 B | 3.53 B | 3.22 B | 3.03 B | 3.07 B | 2.89 B | 2.77 B | 2.58 B | - |
Interest Expense |
222 M | 225 M | 239 M | 221 M | 224 M | 231 M | 223 M | 206 M | 175 M | 166 M | 124 M | 117 M | 113 M | 31 M | 36 M | - |
EBITDA |
487 M | 497 M | 491 M | 465 M | 448 M | 441 M | 2.17 B | 2 B | 1.82 B | 1.48 B | 1.13 B | 1.03 B | 880 M | 894 M | 701 M | - |
Operating Expenses |
6.8 B | 6.54 B | 5.98 B | 5.63 B | 5.47 B | 4.62 B | 2.25 B | 2.03 B | 1.81 B | 1.82 B | 1.96 B | 2.1 B | 2.07 B | 1.94 B | 1.95 B | - |
General and Administrative Expenses |
2.38 B | 2.32 B | 2.15 B | 2.01 B | 2 B | 1.73 B | 1.64 B | 1.48 B | 1.33 B | 1.36 B | 1.53 B | 1.64 B | 1.61 B | - | - | - |
Annual performance
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All numbers in USD currency
Quarterly Income Statement Zoetis
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
412 M | 418 M | 422 M | -1.76 M | 443 M | 445 M | 448 M | -1.2 M | 453 M | 456 M | 458 M | -728 K | 460 M | 462 M | 464 M | -1.11 M | 468 M | 470 M | 472 M | -452 K | 474 M | 475 M | 476 M | 2 K | 476 M | 475 M | 476 M | -572 K | 478 M | 479 M | 480 M | -837 K | 482 M | 484 M | 486 M | -882 K | 489 M | 491 M | 492 M | -585 K | 495 M | 496 M | 497 M | -493 K | 499 M | 500 M | 501 M | 168 M | 501 M | 501 M | 500 M | 2 K | 500 M | 500 M | 500 M | - | 500 M | 500 M | 500 M | - | - | - | - |
Net Income |
591 M | 691 M | 601 M | 624 M | 721 M | 726 M | 602 M | 581 M | 692 M | 624 M | 599 M | 523 M | 596 M | 670 M | 551 M | 460 M | 528 M | 529 M | 594 M | 413 M | 552 M | 511 M | 558 M | 358 M | 479 M | 376 M | 423 M | 384 M | 433 M | 371 M | 312 M | 345 M | 347 M | 382 M | 350 M | 80 M | 296 M | 247 M | 239 M | 154 M | 237 M | 224 M | 204 M | 20 M | 190 M | -36 M | 165 M | 126 M | 167 M | 139 M | 155 M | 104 M | 131 M | 128 M | 140 M | -10 M | 162 M | 173 M | 111 M | - | - | - | - |
Revenue |
2.39 B | 2.47 B | 2.26 B | 2.37 B | 2.42 B | 2.47 B | 2.2 B | 2.32 B | 2.39 B | 2.36 B | 2.19 B | 2.21 B | 2.15 B | 2.18 B | 2 B | 2.04 B | 2 B | 2.05 B | 1.99 B | 1.97 B | 1.99 B | 1.95 B | 1.87 B | 1.81 B | 1.79 B | 1.55 B | 1.53 B | 1.67 B | 1.58 B | 1.55 B | 1.46 B | 1.56 B | 1.48 B | 1.42 B | 1.37 B | 1.46 B | 1.35 B | 1.27 B | 1.23 B | 1.28 B | 1.24 B | 1.21 B | 1.16 B | 1.27 B | 1.21 B | 1.18 B | 1.1 B | 1.32 B | 1.21 B | 1.16 B | 1.1 B | 1.25 B | 1.1 B | 1.11 B | 1.09 B | 1.18 B | 1.02 B | 1.09 B | 1.05 B | - | - | - | - |
Cost of Revenue |
698 M | 673 M | 641 M | 687 M | 697 M | 664 M | 618 M | 707 M | 701 M | 668 M | 643 M | 728 M | 638 M | 607 M | 588 M | 653 M | 607 M | 625 M | 569 M | 600 M | 586 M | 568 M | 549 M | 601 M | 546 M | 451 M | 459 M | 530 M | 479 M | 465 M | 518 M | 544 M | 473 M | 447 M | 447 M | 457 M | 435 M | 440 M | 443 M | 468 M | 410 M | 399 M | 389 M | 496 M | 421 M | 427 M | 394 M | 491 M | 434 M | 413 M | 379 M | 466 M | 385 M | 416 M | 402 M | - | 359 M | 378 M | 393 M | - | - | - | - |
Gross Profit |
1.69 B | 1.8 B | 1.62 B | 1.69 B | 1.72 B | 1.81 B | 1.58 B | 1.61 B | 1.69 B | 1.69 B | 1.55 B | 1.48 B | 1.51 B | 1.57 B | 1.41 B | 1.39 B | 1.4 B | 1.43 B | 1.42 B | 1.37 B | 1.4 B | 1.38 B | 1.32 B | 1.21 B | 1.24 B | 1.1 B | 1.08 B | 1.14 B | 1.1 B | 1.08 B | 937 M | 1.02 B | 1.01 B | 968 M | 919 M | 1 B | 912 M | 829 M | 788 M | 809 M | 831 M | 809 M | 773 M | 778 M | 793 M | 748 M | 708 M | 829 M | 776 M | 745 M | 718 M | 788 M | 718 M | 698 M | 688 M | - | - | - | - | - | - | - | - |
Interest Expense |
-3 M | -2 M | -1 M | -7 M | -1 M | -1 M | 3 M | 1 M | -2 M | 2 M | -5 M | 4 M | -4 M | 2 M | -5 M | 6 M | 1 M | 6 M | 1 M | -3 M | 3 M | -2 M | -2 M | -4 M | -2 M | 58 M | 1 M | 1 M | -1 M | 1 M | -1 M | -3 M | 19 M | -1 M | 47 M | -2 M | 43 M | 3 M | 5 M | -3 M | 1 M | 5 M | -1 M | 4 M | 3 M | -3 M | 1 M | -2 M | 1 M | 29 M | -2 M | 4 M | -1 M | 1 M | -2 M | - | 7 M | 8 M | 8 M | - | - | - | - |
EBITDA |
39 M | 38 M | 39 M | 38 M | 39 M | 40 M | 40 M | 42 M | 42 M | 42 M | 44 M | 44 M | 46 M | 48 M | 47 M | 46 M | 48 M | 47 M | 52 M | 50 M | 51 M | 52 M | 51 M | 52 M | 56 M | 61 M | 62 M | 61 M | 60 M | 58 M | 58 M | 61 M | 45 M | 26 M | 25 M | 25 M | 26 M | 24 M | 25 M | 23 M | 24 M | 24 M | 24 M | 17 M | 16 M | 16 M | 15 M | 16 M | 15 M | 16 M | 15 M | 16 M | 16 M | 16 M | 16 M | - | 54 M | 54 M | 48 M | - | - | - | - |
Operating Expenses |
- | 1.8 B | 1.62 B | - | 1.72 B | 1.81 B | 1.58 B | 1.61 B | 1.69 B | 1.69 B | 1.55 B | 1.48 B | 1.51 B | 1.57 B | 1.41 B | 1.39 B | 1.4 B | 1.43 B | 1.42 B | 1.37 B | 1.4 B | 1.38 B | 1.32 B | 1.21 B | 1.24 B | 1.1 B | 1.08 B | 1.14 B | 1.1 B | 1.08 B | 937 M | 1.02 B | 1.01 B | 968 M | 919 M | 1 B | 912 M | 829 M | 788 M | 809 M | 831 M | 809 M | 773 M | 778 M | 793 M | 748 M | 708 M | 829 M | 776 M | 745 M | 718 M | 788 M | 718 M | 698 M | 688 M | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
582 M | 592 M | 588 M | 608 M | 582 M | 614 M | 574 M | 625 M | 565 M | 581 M | 547 M | 565 M | 525 M | 556 M | 505 M | 514 M | 501 M | 529 M | 465 M | 593 M | 504 M | 495 M | 409 M | 520 M | 424 M | 393 M | 389 M | 472 M | 391 M | 406 M | 369 M | 420 M | 367 M | 359 M | 338 M | 361 M | 328 M | 336 M | 309 M | 361 M | 345 M | 343 M | 315 M | 425 M | 374 M | 379 M | 354 M | 497 M | 394 M | 396 M | 356 M | 458 M | 399 M | 399 M | 357 M | - | 335 M | 344 M | 338 M | - | - | - | - |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company Zoetis (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.