Zoetis Inc. (ZTS)
NYSE: ZTS · Real-Time Price · USD
75.81
-0.48 (-0.63%)
At close: Sep 4, 2026, 4:00 PM EDT
75.50
-0.31 (-0.41%)
After-hours: Sep 4, 2026, 7:47 PM EDT
Zoetis Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Net Income | 2,637 | 2,673 | 2,486 | 2,344 | 2,114 | 2,037 |
Depreciation & Amortization | 436 | 441 | 436 | 416 | 396 | 396 |
Other Amortization | 46 | 46 | 61 | 75 | 69 | 52 |
Loss (Gain) From Sale of Assets | -7 | 3 | 23 | -118 | - | - |
Asset Writedown & Restructuring Costs | 14 | 47 | 31 | 46 | 53 | 47 |
Stock-Based Compensation | 95 | 83 | 74 | 60 | 62 | 58 |
Other Operating Activities | -1 | 19 | -237 | 42 | -83 | -34 |
Change in Accounts Receivable | -256 | -236 | -61 | -102 | -137 | -155 |
Change in Inventory | -169 | -199 | -40 | -361 | -486 | -366 |
Change in Accounts Payable | 40 | 46 | 31 | 13 | -29 | -17 |
Change in Other Net Operating Assets | 5 | -19 | 149 | -62 | -47 | 195 |
Operating Cash Flow | 2,840 | 2,904 | 2,953 | 2,353 | 1,912 | 2,213 |
Operating Cash Flow Growth | -4.57% | -1.66% | 25.50% | 23.06% | -13.60% | 4.09% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Capital Expenditures | -524 | -621 | -655 | -732 | -586 | -477 |
Sale of Property, Plant & Equipment | 11 | - | - | - | 1 | 2 |
Cash Acquisitions | -14 | -24 | -8 | -155 | -312 | -14 |
Divestitures | - | -4 | 293 | 96 | - | - |
Investment in Securities | -212 | -7 | -5 | -4 | -9 | -12 |
Other Investing Activities | 19 | -92 | 60 | 18 | 23 | 43 |
Investing Cash Flow | -720 | -748 | -315 | -777 | -883 | -458 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Short-Term Debt Issued | - | - | - | 1 | 2 | - |
Long-Term Debt Issued | - | 3,848 | - | - | 1,348 | - |
Total Debt Issued | 3,848 | 3,848 | - | 1 | 1,350 | - |
Short-Term Debt Repaid | - | - | -3 | - | - | -4 |
Long-Term Debt Repaid | - | -1,537 | - | -1,350 | - | -600 |
Total Debt Repaid | -1,537 | -1,537 | -3 | -1,350 | - | -604 |
Net Debt Issued (Repaid) | 2,311 | 2,311 | -3 | -1,349 | 1,350 | -604 |
Issuance of Common Stock | - | - | - | 27 | - | - |
Repurchase of Common Stock | -3,655 | -3,246 | -1,866 | -1,092 | -1,632 | -778 |
Common Dividends Paid | -889 | -889 | -786 | -692 | -611 | -474 |
Other Financing Activities | -49 | -46 | -5 | -3 | -11 | -6 |
Financing Cash Flow | -2,282 | -1,870 | -2,660 | -3,109 | -904 | -1,862 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | -5 | 39 | -32 | -7 | -29 | -12 |
Net Cash Flow | -167 | 325 | -54 | -1,540 | 96 | -119 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Free Cash Flow | 2,316 | 2,283 | 2,298 | 1,621 | 1,326 | 1,736 |
Free Cash Flow Growth | 2.07% | -0.65% | 41.76% | 22.25% | -23.62% | 3.77% |
Free Cash Flow Margin | 24.32% | 24.12% | 24.83% | 18.97% | 16.41% | 22.32% |
Free Cash Flow Per Share | 5.38 | 5.14 | 5.05 | 3.51 | 2.82 | 3.64 |
Levered Free Cash Flow | 2,017 | 1,791 | 2,376 | 1,276 | 1,174 | 1,457 |
Unlevered Free Cash Flow | 2,166 | 1,930 | 2,516 | 1,426 | 1,312 | 1,597 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Cash Interest Paid | 272 | 261 | 274 | 295 | 242 | 253 |
Cash Income Tax Paid | 673 | 715 | 892 | 754 | 638 | 548 |
Change in Working Capital | -380 | -408 | 79 | -512 | -699 | -343 |