Zoetis Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	9,467	9,256	8,544	8,080	7,776
Revenue Growth (YoY)	2.28%	8.33%	5.74%	3.91%	16.49%
Cost of Revenue	2,661	2,718	2,560	2,446	2,295
Gross Profit	6,806	6,538	5,984	5,634	5,481
Selling, General & Admin	2,355	2,312	2,151	2,009	2,001
Research & Development	698	686	614	539	508
Amortization of Goodwill & Intangibles	128	141	149	150	161
Operating Expenses	3,181	3,139	2,914	2,698	2,670
Operating Income	3,625	3,399	3,070	2,936	2,811
Interest Expense	-222	-225	-239	-221	-224
Interest & Investment Income	93	106	105	50	6
Currency Exchange Gain (Loss)	-45	-50	-47	-62	-27
Other Non Operating Income (Expenses)	-4	1	35	18	6
EBT Excluding Unusual Items	3,447	3,231	2,924	2,721	2,572
Merger & Restructuring Charges	-80	-37	-53	-15	-45
Gain (Loss) on Sale of Assets	-3	-39	101	-	-3
Asset Writedown	-5	-15	-35	-46	-30
Other Unusual Items	1	-7	-1	-4	-6
Pretax Income	3,360	3,133	2,936	2,656	2,488
Income Tax Expense	687	637	596	545	454
Earnings From Continuing Operations	2,673	2,496	2,340	2,111	2,034
Minority Interest in Earnings	-	-10	4	3	3
Net Income	2,673	2,486	2,344	2,114	2,037
Net Income to Common	2,673	2,486	2,344	2,114	2,037
Net Income Growth	7.52%	6.06%	10.88%	3.78%	24.36%
Shares Outstanding (Basic)	443	454	461	469	474
Shares Outstanding (Diluted)	444	455	462	470	477
Shares Change (YoY)	-2.42%	-1.60%	-1.73%	-1.33%	-0.39%
EPS (Basic)	6.03	5.47	5.08	4.51	4.29
EPS (Diluted)	6.02	5.47	5.07	4.49	4.27
EPS Growth	10.05%	7.89%	12.92%	5.15%	24.85%
Free Cash Flow	2,283	2,298	1,621	1,326	1,736
Free Cash Flow Per Share	5.14	5.05	3.51	2.82	3.64
Dividend Per Share	2.000	1.728	1.500	1.300	1.000
Dividend Growth	15.74%	15.20%	15.38%	30.00%	25.00%
Gross Margin	71.89%	70.64%	70.04%	69.73%	70.49%
Operating Margin	38.29%	36.72%	35.93%	36.34%	36.15%
Profit Margin	28.23%	26.86%	27.43%	26.16%	26.20%
Free Cash Flow Margin	24.12%	24.83%	18.97%	16.41%	22.32%
EBITDA	4,066	3,835	3,486	3,332	3,207
EBITDA Margin	42.95%	41.43%	40.80%	41.24%	41.24%
D&A For EBITDA	441	436	416	396	396
EBIT	3,625	3,399	3,070	2,936	2,811
EBIT Margin	38.29%	36.72%	35.93%	36.34%	36.15%
Effective Tax Rate	20.45%	20.33%	20.30%	20.52%	18.25%
Advertising Expenses	308	302	281	287	292

Source: S&P Global Market Intelligence. Standard template. Financial Sources.