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ZTS · NYSE · United States · Pharmaceutical Preparations
In shortZoetis Inc. is profitable, generates cash and carries heavy debt, with revenue growing (+2.3% last year).
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | – | n/a |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 28.2% | 100/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 65.3% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 3.12× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 2.65× | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | – | n/a |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 24.1% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 0.85× | 69/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 5.6% | 90/100 |
| Operating margin volatility | – | n/a |
Weight in the score: 20%
| Revenue growth, 3-year average | 5.4% | 47/100 |
|---|---|---|
| EPS growth, 3-year average | 10.3% | 76/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 7,776 | 8,080 | 8,544 | 9,256 | 9,467 |
| Cost of revenue | 2,303 | 2,454 | 2,561 | 2,719 | 2,666 |
| Gross profit | 5,473 | 5,626 | 5,983 | 6,537 | 6,801 |
| Research & development | 508 | 539 | 614 | 686 | 698 |
| Selling, general & admin | 2,001 | 2,009 | 2,151 | 2,318 | 2,378 |
| Interest expense | 224 | 221 | 239 | 225 | 222 |
| Pre-tax income | 2,488 | 2,656 | 2,936 | 3,133 | 3,360 |
| Income tax | 454 | 545 | 596 | 637 | 687 |
| Net income | 2,037 | 2,114 | 2,344 | 2,486 | 2,673 |
| Diluted EPS | $4.27 | $4.49 | $5.07 | $5.47 | $6.02 |
| Diluted shares (millions) | 477 | 470 | 462 | 455 | 444 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
Not computed: a required balance-sheet item is missing.
6/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 6, 2026