Zoetis Inc.

10-K & 10-Q Filings

Zoetis Inc. is a global animal health company based in Parsippany, New Jersey, with a diversified business in the discovery, development, manufacture, and commercialization of medicines, vaccines, diagnostic products, and services for animals. The company was incorporated in Delaware in 2012 and has a workforce of approximately 10,700 employees. Zoetis operates in two segments: United States (53% of total revenue) and International (46% of total revenue). The company's business strategy focuses on developing a diverse portfolio of animal health products for companion animals and livestock, with a strong emphasis on innovation and continuous improvement. Zoetis offers a range of products and services across eight core species and seven major product categories, including parasiticides, vaccines, dermatology, other pharmaceutical, anti-infectives, animal health diagnostics, and medicated feed additives. The company's website is zoetis.com, and its ticker symbol is ZTS. The company's major product categories include parasiticides, vaccines, dermatology, other pharmaceutical, anti-infectives, animal health diagnostics, and medicated feed additives. Some of its notable products include Apoquel for dogs, Core EQ Innovator for horses, Cytopoint for dogs, Fostera for pigs, Librela for dogs, ProHeart for dogs, Revolution for cats and dogs, Simparica for dogs, Cerenia for dogs and cats, Rimadyl for dogs, and Solensia for cats. Zoetis has a global manufacturing network of 29 sites, including sites operated by the company and third-party contract manufacturing organizations (CMOs). The company's sales and marketing efforts are focused on building strong relationships with veterinarians, livestock producers, and pet owners, as well as investing in direct-to-consumer marketing efforts in certain markets. The company's R&D efforts are focused on developing new products and continuously improving existing ones, with a commitment to product lifecycle innovation and regulatory maintenance. Zoetis also collaborates with external parties on research programs and gains access to substrates and technologies through partnerships.

12 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$4561.00
4785.00
4765.00
4888.00
5307.00
5825.00
6260.00
6675.00
7776.00
8080.00
8544.00
2000.00
2190.00
6.48%9.50%Cost of Revenue (-)
$1669.00
1717.00
1738.00
1666.00
1775.00
1911.00
1992.00
2057.00
2303.00
2454.00
2561.00
588.00
643.00
4.37%9.35%Gross Profit (+)
$2892.00
3068.00
3027.00
3222.00
3532.00
3914.00
4268.00
4618.00
5473.00
5626.00
5983.00
1412.00
1547.00
7.54%9.56%Selling, General & Administrative (-)
$1613.00
1643.00
1532.00
1364.00
1334.00
1484.00
1638.00
1726.00
2001.00
2009.00
2151.00
505.00
547.00
2.92%8.32%Research & Development (-)
$399.00
396.00
364.00
376.00
382.00
432.00
457.00
463.00
508.00
539.00
614.00
142.00
162.00
4.40%14.08%Operating Expenses (-)
$2012.00
2039.00
1896.00
1740.00
1716.00
1916.00
2095.00
2189.00
2509.00
2548.00
2765.00
647.00
709.00
3.23%9.58%Costs & Expenses (Total) (-)
$3767.00
3841.00
4015.00
3496.00
3601.00
4012.00
4293.00
4431.00
5016.00
5163.00
5528.00
1293.00
1393.00
3.91%7.73%Operating Income/Loss (+)
$794.00
944.00
750.00
1392.00
1706.00
1813.00
1967.00
2244.00
2760.00
2917.00
3016.00
707.00
797.00
14.28%12.73%Non-operating Income/Expense (+)
$9.00
-7.00
-81.00
2.00
-6.00
83.00
57.00
-17.00
-48.00
-40.00
159.00
53.00
8.00
33.26%-84.91%Interest Expense (-)
$113.00
117.00
124.00
166.00
175.00
206.00
223.00
231.00
224.00
221.00
239.00
63.00
58.00
7.78%-7.94%Earnings before Tax (+)
$690.00
820.00
545.00
1228.00
1525.00
1690.00
1801.00
1996.00
2488.00
2656.00
2936.00
697.00
747.00
15.58%7.17%Tax Expense (-)
$187.00
233.00
206.00
409.00
663.00
266.00
301.00
360.00
454.00
545.00
596.00
146.00
148.00
12.29%1.37%Income/Loss (Continuing Operations) (+)
$503.00
587.00
339.00
819.00
862.00
1424.00
1500.00
1636.00
2034.00
2111.00
2340.00
551.00
599.00
16.62%8.71%Profit/Loss (+)
$503.00
587.00
339.00
819.00
862.00
1424.00
1500.00
1636.00
2034.00
2111.00
2340.00
551.00
599.00
16.62%8.71%Net Income/Loss (NCI) (-)
$-1.00
4.00
-2.00
-2.00
-4.00
-2.00
-3.00
-3.00
-4.00
-1.00
Net Income/Loss (+)
$504.00
583.00
339.00
821.00
864.00
1428.00
1500.00
1638.00
2037.00
2114.00
2344.00
552.00
599.00
16.61%8.51%Net Income/Loss (Common) (+)
$504.00
583.00
339.00
821.00
864.00
1428.00
1500.00
1638.00
2037.00
2114.00
2344.00
552.00
599.00
16.61%8.51%EPS (Basic)
$1.01
1.16
0.68
1.66
1.76
2.96
3.14
3.44
4.29
4.51
5.08
1.19
1.31
17.53%10.08%EPS (Diluted)
$1.01
1.16
0.68
1.65
1.75
2.93
3.11
3.42
4.27
4.49
5.07
1.19
1.31
17.51%10.08%Weighted Avg Shares (Basic)
500.00
501.06
499.71
495.71
489.92
483.06
478.13
475.50
474.35
468.89
461.17
463.50
458.00
-0.81%-1.19%Weighted Avg Shares (Diluted)
500.32
502.02
502.02
498.23
493.16
486.90
481.79
478.57
476.72
470.38
462.27
464.60
458.80
-0.79%-1.25%Cash
$610.00
882.00
1154.00
727.00
1564.00
1602.00
1934.00
3604.00
3485.00
3581.00
2041.00
2109.00
1975.00
12.84%-6.35%Short-term Investments
$
99.00
Receivables
$1138.00
980.00
937.00
913.00
998.00
1036.00
1086.00
1013.00
1133.00
1215.00
1304.00
1186.00
1293.00
1.37%9.02%Inventory
$1293.00
1289.00
1467.00
1502.00
1427.00
1391.00
1410.00
1628.00
1923.00
2345.00
2564.00
2563.00
2651.00
7.09%3.43%Other Assets (Current)
$316.00
314.00
272.00
248.00
228.00
271.00
318.00
366.00
389.00
365.00
434.00
411.00
440.00
3.22%7.06%Assets (Current)
$3357.00
3465.00
3830.00
3390.00
4217.00
4399.00
4748.00
6611.00
6930.00
7506.00
6343.00
6269.00
6359.00
6.57%1.44%Property, Plant & Equipment (Net)
$1295.00
1318.00
1307.00
1381.00
189.00
192.00
2603.00
2973.00
3434.00
3129.00
3476.00
10.24%11.09%Goodwill & Intangibles
$1785.00
1703.00
2645.00
2709.00
2779.00
4565.00
4482.00
4404.00
4156.00
4126.00
4097.00
4052.00
4054.00
8.66%0.05%Other Assets
$121.00
121.00
131.00
169.00
1590.00
1813.00
2126.00
2402.00
211.00
320.00
412.00
304.00
459.00
13.03%50.99%Assets (Non-current)
$3201.00
3142.00
4083.00
4259.00
4369.00
6378.00
6797.00
6998.00
6970.00
7419.00
7943.00
7485.00
7989.00
9.51%6.73%Assets (Total)
$6558.00
6607.00
7913.00
7649.00
8586.00
10800.00
11545.00
13609.00
13900.00
14925.00
14286.00
13754.00
14348.00
8.10%4.32%Accounts Payable
$811.00
1029.00
1313.00
1076.00
1050.00
1180.00
1251.00
1473.00
1730.00
1718.00
1784.00
1107.00
1105.00
8.20%-0.18%Debt (Current)
$15.00
7.00
405.00
9.00
500.00
604.00
1352.00
3.00
3.00
24.00
-14.87%700.00%Other Liabilities (Current)
$589.00
50.00
63.00
41.00
44.00
34.00
55.00
93.00
67.00
97.00
102.00
805.00
780.00
-16.08%-3.11%Liabilities (Current)
$1415.00
1086.00
1781.00
1117.00
1094.00
1223.00
1806.00
2170.00
1797.00
3167.00
1889.00
1915.00
1909.00
2.93%-0.31%Debt (Non-current)
$3642.00
3643.00
4463.00
4468.00
4953.00
6443.00
6111.00
6758.00
6592.00
6552.00
6564.00
6559.00
6562.00
6.07%0.05%Other Liabilities
$539.00
541.00
578.00
565.00
753.00
926.00
920.00
908.00
967.00
803.00
842.00
789.00
825.00
4.56%4.56%Liabilities (Non-current)
$4181.00
4184.00
5041.00
5033.00
5706.00
7369.00
7031.00
7666.00
7559.00
7355.00
7406.00
7348.00
7387.00
5.88%0.53%Liabilities (Total)
$5596.00
5270.00
6822.00
6150.00
6800.00
8592.00
8837.00
9836.00
9356.00
10522.00
9295.00
9263.00
9296.00
5.21%0.36%Treasury Stock
$
203.00
421.00
852.00
1487.00
2042.00
2230.00
2952.00
4539.00
5597.00
4807.00
5928.00
23.32%Retained Earnings
$276.00
709.00
876.00
1477.00
2109.00
3270.00
4427.00
5659.00
7186.00
8668.00
10295.00
9045.00
10696.00
43.61%18.25%AOCI
$-219.00
-361.00
-622.00
-598.00
-505.00
-629.00
-726.00
-730.00
-764.00
-817.00
-839.00
-828.00
-841.00
-1.57%Shareholder's Equity
$962.00
1337.00
1091.00
1499.00
1786.00
2185.00
2708.00
3773.00
4544.00
4403.00
4991.00
4491.00
5052.00
17.90%12.49%Liabilities & Equity
$6558.00
6607.00
7913.00
7649.00
8586.00
10777.00
11545.00
13609.00
13900.00
14925.00
14286.00
13754.00
14348.00
8.10%4.32%Net Income/Loss
$503.00
587.00
339.00
819.00
862.00
1424.00
1500.00
1636.00
2034.00
2111.00
2340.00
551.00
599.00
16.62%8.71%Depreciation & Amortization
$209.00
204.00
199.00
240.00
242.00
308.00
412.00
441.00
448.00
465.00
491.00
120.00
126.00
8.92%5.00%Increase/Decrease in Working Capital
$104.00
157.00
208.00
439.00
29.00
-112.00
151.00
85.00
343.00
699.00
512.00
155.00
121.00
17.28%-21.94%Share-based Compensation
$43.00
32.00
43.00
37.00
44.00
53.00
67.00
59.00
58.00
62.00
60.00
9.00
18.00
3.39%100.00%Adjustments to Reconcile Net Income
$178.00
39.00
325.00
-106.00
484.00
366.00
295.00
496.00
179.00
-199.00
13.00
-2.00
-4.00
-23.02%-100.00%Net Cash (Operating)
$681.00
626.00
664.00
713.00
1346.00
1790.00
1795.00
2126.00
2213.00
1912.00
2353.00
549.00
595.00
13.20%8.38%Capital Expenditure
$179.00
186.00
451.00
246.00
276.00
2178.00
448.00
432.00
475.00
585.00
632.00
221.00
139.00
13.45%-37.10%Net Cash (Investing)
$-179.00
-187.00
-1115.00
-214.00
-270.00
-2259.00
-504.00
-572.00
-458.00
-883.00
-777.00
-216.00
-131.00
39.35%Increase/Decrease in Debt
$2641.00
-8.00
1115.00
-405.00
481.00
1493.00
-9.00
744.00
-604.00
1350.00
-1349.00
-1349.00
21.00
101.56%Increase/Decrease in Equity
$
-203.00
-303.00
-500.00
-698.00
-626.00
-262.00
-743.00
-1604.00
-1092.00
-283.00
-339.00
-19.79%Interest Expenses
$60.00
118.00
117.00
165.00
167.00
190.00
247.00
257.00
253.00
242.00
295.00
89.00
68.00
17.26%-23.60%Dividends Paid
$98.00
146.00
168.00
188.00
206.00
243.00
314.00
380.00
474.00
611.00
692.00
174.00
198.00
21.59%13.79%Net Cash (Financing)
$-200.00
-154.00
755.00
-903.00
-251.00
533.00
-951.00
123.00
-1862.00
-904.00
-3109.00
-1802.00
-524.00
70.92%Cash Taxes Paid
$134.00
278.00
224.00
408.00
455.00
336.00
418.00
418.00
548.00
638.00
754.00
20.00
59.00
18.86%195.00%Effect of Exchange Rate
$-9.00
-13.00
-32.00
-23.00
12.00
-26.00
-8.00
-7.00
-12.00
-29.00
-7.00
-3.00
-6.00
-100.00%Increase/Decrease in Cash
$293.00
272.00
272.00
-427.00
837.00
38.00
332.00
1670.00
-119.00
96.00
-1540.00
-1472.00
-66.00
95.52%Cash (Beginning)
$317.00
610.00
882.00
1154.00
727.00
3581.00
2041.00
-43.00%Cash (Ending)
$610.00
882.00
1154.00
727.00
1564.00
2109.00
1975.00
-6.35%NOPAT
$639.80
623.96
441.74
929.51
1197.00
1452.55
1510.47
1774.06
2152.09
2216.30
2241.46
686.71
734.05
13.36%6.89%Gross Margin %
63.41%
64.12%
63.53%
65.92%
66.55%
67.19%
68.18%
69.18%
70.38%
69.63%
70.03%
70.60%
70.64%
Operating Margin %
17.41%
19.73%
15.74%
28.48%
32.15%
31.12%
31.42%
33.62%
35.49%
36.10%
35.30%
35.35%
36.39%
NOPAT Margin %
14.03%
13.04%
9.27%
19.02%
22.56%
24.94%
24.13%
26.58%
27.68%
27.43%
26.23%
34.34%
33.52%
Net Margin %
11.05%
12.18%
7.11%
16.80%
16.28%
24.52%
23.96%
24.54%
26.20%
26.16%
27.43%
27.60%
27.35%
Tax Rate %
19.42%
33.90%
41.10%
33.22%
29.84%
19.88%
23.21%
20.94%
22.03%
24.02%
25.68%
2.87%
7.90%
ROA
9.76%
9.44%
5.58%
12.15%
13.94%
13.45%
13.08%
13.04%
15.48%
14.85%
15.69%
4.99%
5.12%
ROE
66.51%
46.67%
40.49%
62.01%
67.02%
66.48%
55.78%
47.02%
47.36%
50.34%
44.91%
15.29%
14.53%
ROIC
13.16%
13.23%
8.05%
15.76%
25.67%
22.78%
23.19%
27.78%
24.37%
22.85%
21.51%
7.14%
7.20%
Asset Turnover
0.70
0.72
0.60
0.64
0.62
0.54
0.54
0.49
0.56
0.54
0.60
0.15
0.15
Inventory Turnover
1.29
1.33
1.18
1.11
1.24
1.37
1.41
1.26
1.20
1.05
1.00
0.23
0.24
Equity Multiplier
6.82
4.94
7.25
5.10
4.81
4.94
4.26
3.61
3.06
3.39
2.86
3.06
2.84
Current Ratio
2.37
3.19
2.15
3.03
3.85
3.60
2.63
3.05
3.86
2.37
3.36
3.27
3.33
Quick Ratio
1.24
1.71
1.17
1.47
2.34
2.24
1.67
2.13
2.57
1.51
1.77
1.72
1.71
Debt/Equity Ratio
3.80
2.73
4.46
2.98
2.77
2.95
2.44
1.95
1.45
1.80
1.32
1.46
1.30
Interest Coverage Ratio
13.23
8.00
6.41
8.44
10.22
9.54
7.96
8.73
10.91
12.05
10.22
7.94
11.72
Working Capital/Sales
0.39
0.35
0.32
0.37
0.35
0.31
0.29
0.27
0.27
0.32
0.34
1.22
1.22
R&D/Sales
0.09
0.08
0.08
0.08
0.07
0.07
0.07
0.07
0.07
0.07
0.07
0.07
0.07
Dividend Payout Ratio %
15.32%
23.40%
38.03%
20.23%
17.21%
16.73%
20.79%
21.42%
22.03%
27.57%
30.87%
25.34%
26.97%
Total Payout
$-2483.00
272.00
-627.00
1061.00
392.00
-362.00
1196.00
155.00
2074.00
1107.00
3428.00
1895.00
584.00
-69.18%Payout Ratio %
-388.09%
43.59%
-141.94%
114.15%
32.75%
-24.92%
79.18%
8.74%
96.37%
49.95%
152.94%
275.95%
79.56%