Zoetis Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	9,397	9,256	8,544	8,080	7,776	6,675
Revenue Growth (YoY)	2.68%	8.33%	5.74%	3.91%	16.49%	6.63%
Cost of Revenue	2,656	2,718	2,558	2,446	2,295	2,038
Gross Profit	6,741	6,538	5,986	5,634	5,481	4,637
Selling, General & Admin	2,362	2,318	2,151	2,009	2,001	1,713
Research & Development	685	686	614	539	508	463
Amortization of Goodwill & Intangibles	131	141	149	150	161	160
Operating Expenses	3,178	3,145	2,914	2,698	2,670	2,336
Operating Income	3,563	3,393	3,072	2,936	2,811	2,301
Interest Expense	-216	-225	-239	-221	-224	-231
Interest & Investment Income	95	106	105	50	6	12
Currency Exchange Gain (Loss)	-43	-50	-47	-62	-27	-21
Other Non Operating Income (Expenses)	8	1	36	18	6	7
EBT Excluding Unusual Items	3,407	3,225	2,927	2,721	2,572	2,068
Merger & Restructuring Charges	-31	-37	-55	-15	-45	-40
Gain (Loss) on Sale of Investments	-	-	-	-	-	-4
Gain (Loss) on Sale of Assets	-9	-39	101	-	-3	19
Asset Writedown	-9	-15	-36	-46	-30	-30
Other Unusual Items	-27	-1	-1	-4	-6	-17
Pretax Income	3,331	3,133	2,936	2,656	2,488	1,996
Income Tax Expense	680	637	596	545	454	360
Earnings From Continuing Operations	2,651	2,496	2,340	2,111	2,034	1,636
Minority Interest in Earnings	-	-10	4	3	3	2
Net Income	2,651	2,486	2,344	2,114	2,037	1,638
Net Income to Common	2,651	2,486	2,344	2,114	2,037	1,638
Net Income Growth	9.10%	6.06%	10.88%	3.78%	24.36%	9.20%
Shares Outstanding (Basic)	447	454	461	469	474	476
Shares Outstanding (Diluted)	447	455	462	470	477	479
Shares Change (YoY)	-2.21%	-1.60%	-1.73%	-1.33%	-0.39%	-0.67%
EPS (Basic)	5.94	5.47	5.08	4.51	4.29	3.44
EPS (Diluted)	5.94	5.47	5.07	4.49	4.27	3.42
EPS Growth	11.64%	7.89%	12.92%	5.15%	24.85%	9.97%
Free Cash Flow	2,240	2,298	1,621	1,326	1,736	1,673
Free Cash Flow Per Share	5.01	5.05	3.51	2.82	3.64	3.50
Dividend Per Share	1.932	1.728	1.500	1.300	1.000	0.800
Dividend Growth	15.62%	15.20%	15.38%	30.00%	25.00%	21.95%
Gross Margin	71.74%	70.64%	70.06%	69.73%	70.49%	69.47%
Operating Margin	37.92%	36.66%	35.95%	36.34%	36.15%	34.47%
Profit Margin	28.21%	26.86%	27.43%	26.16%	26.20%	24.54%
Free Cash Flow Margin	23.84%	24.83%	18.97%	16.41%	22.32%	25.06%
EBITDA	3,991	3,829	3,488	3,332	3,207	2,696
EBITDA Margin	42.47%	41.37%	40.82%	41.24%	41.24%	40.39%
D&A For EBITDA	428	436	416	396	396	395
EBIT	3,563	3,393	3,072	2,936	2,811	2,301
EBIT Margin	37.92%	36.66%	35.95%	36.34%	36.15%	34.47%
Effective Tax Rate	20.41%	20.33%	20.30%	20.52%	18.25%	18.04%
Advertising Expenses	-	302	281	287	292	233

Updated Nov 4, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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