Zoetis Inc. (ZTS)

Zoetis Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	2,643	2,673	2,496	2,340	2,111	2,034
Depreciation & Amortization	487	487	497	491	465	448
Stock-Based Compensation	91	83	74	60	62	58
Other Adjustments	60.5	69	-193	-26	19	16
Change in Receivables	-289	-236	-61	-102	-137	-155
Changes in Inventories	-228	-199	-40	-361	-486	-366
Changes in Accounts Payable	120	46	31	13	-29	-17
Changes in Income Taxes Payable	11	61	-17	-34	98	-25
Changes in Other Operating Activities	-190	-80	166	-28	-145	220
Operating Cash Flow	2,718	2,904	2,953	2,353	1,912	2,213
Operating Cash Flow Growth	-5.39%	-1.66%	25.50%	23.06%	-13.60%	4.09%
Capital Expenditures	-582	-621	-655	-732	-586	-477
Sale of Property, Plant & Equipment	11	-	-	-	1	2
Purchases of Investments	-6	-7	-5	-4	-9	-12
Payments for Business Acquisitions	-19	-24	-8	-155	-312	-14
Proceeds from Business Divestments	-2	-4	293	96	-	-
Other Investing Activities	-54	-92	60	18	23	43
Investing Cash Flow	-660	-748	-315	-777	-883	-458
Short-Term Debt Issued	-	-	-3	1	2	-4
Short-Term Debt Repaid	-	-	-3	1	2	-4
Net Short-Term Debt Issued (Repaid)	-	-	-6	2	4	-8
Long-Term Debt Issued	-	3,848	-	-	1,348	-
Long-Term Debt Repaid	-	-1,350	-	-1,350	-	-600
Net Long-Term Debt Issued (Repaid)	-	2,498	-	-1,350	1,348	-600
Issuance of Common Stock	-9	-11	-8	27	-38	-35
Repurchase of Common Stock	-3,398	-3,235	-1,858	-1,092	-1,594	-743
Net Common Stock Issued (Repurchased)	-3,407	-3,246	-1,866	-1,065	-1,632	-778
Common Dividends Paid	-889	-889	-786	-692	-611	-474
Other Financing Activities	-34	-233	-8	-2	-9	-10
Financing Cash Flow	-2,033	-1,870	-2,660	-3,109	-904	-1,862
Effect of Exchange Rate Changes on Cash and Cash Equivalents	57	39	-32	-7	-29	-12
Net Cash Flow	82	325	-54	-1,540	96	-119
Free Cash Flow	2,136	2,283	2,298	1,621	1,326	1,736
Free Cash Flow Growth	-6.44%	-0.65%	41.76%	22.25%	-23.62%	3.77%
FCF Margin	22.46%	24.12%	24.83%	18.97%	16.41%	22.33%
Free Cash Flow Per Share	4.88	5.14	5.05	3.51	2.82	3.64
Levered Free Cash Flow	2,261	4,865	2,462	345	2,783	1,212
Unlevered Free Cash Flow	2,414	2,515	2,642	1,753	1,635	2,039

Updated May 7, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q