Zoetis Inc. (ZTS)
NYSE: ZTS · Real-Time Price · USD
79.40
-2.71 (-3.30%)
At close: Nov 6, 2026, 4:00 PM EST
79.45
+0.05 (0.06%)
After-hours: Nov 6, 2026, 7:48 PM EST
Zoetis Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 591 | 691 | 601 | 603 | 721 | 726 | 602 | 581 | 682 | 624 | 599 | 525 | 596 | 671 | 552 | 461 | 529 | 529 | 595 | 414 |
Depreciation & Amortization | 119 | 119 | 119 | 75 | 122 | 124 | 119 | 62 | 121 | 127 | 126 | 51 | 124 | 121 | 120 | 50 | 115 | 117 | 114 | 65 |
Other Amortization | 13 | - | - | 46 | 8 | - | - | 61 | - | - | - | 75 | - | - | - | 69 | - | - | - | 52 |
Loss (Gain) From Sale of Assets | - | -1 | -6 | - | - | 3 | - | 1 | - | 22 | - | - | - | -118 | - | - | - | - | - | -1 |
Asset Writedown & Restructuring Costs | 93 | - | - | 8 | 9 | 31 | 2 | 15 | 3 | 11 | 2 | 19 | 14 | 12 | 1 | 46 | 5 | 1 | 1 | 28 |
Stock-Based Compensation | 27 | 26 | 25 | 22 | 22 | 22 | 17 | 19 | 18 | 19 | 18 | 17 | 17 | 17 | 9 | 16 | 15 | 15 | 16 | 14 |
Other Operating Activities | 21 | -22 | 47 | -31 | 10 | 13 | 32 | -143 | -3 | -62 | -29 | 8 | 21 | -9 | 22 | -25 | -26 | - | -32 | 45 |
Change in Accounts Receivable | -119 | -66 | -106 | -52 | -38 | -106 | -46 | 73 | -22 | -100 | -12 | -48 | 62 | -143 | 27 | -17 | 62 | -80 | -102 | -12 |
Change in Inventory | -6 | -23 | -114 | 13 | -15 | -82 | -85 | 73 | 2 | -17 | -98 | 136 | -73 | -189 | -235 | -48 | -126 | -166 | -146 | -67 |
Change in Accounts Payable | -37 | -53 | 62 | 76 | 1 | -7 | 22 | 26 | -15 | 23 | -3 | 22 | -74 | 43 | 22 | 30 | -53 | 25 | -31 | 54 |
Change in Other Net Operating Assets | 122 | -16 | -227 | 133 | 96 | -119 | -148 | 137 | 165 | -145 | -8 | 92 | 37 | -222 | 31 | 159 | 5 | -105 | -106 | 87 |
Operating Cash Flow | 824 | 655 | 401 | 893 | 936 | 605 | 515 | 905 | 951 | 502 | 595 | 897 | 724 | 183 | 549 | 741 | 526 | 336 | 309 | 679 |
Operating Cash Flow Growth (YoY) | -11.97% | 8.26% | -22.14% | -1.33% | -1.58% | 20.52% | -13.44% | 0.89% | 31.35% | 174.32% | 8.38% | 21.05% | 37.64% | -45.54% | 77.67% | 9.13% | -19.45% | -30.15% | -22.75% | -5.43% |
Investing Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -107 | -117 | -110 | -161 | -138 | -146 | -178 | -216 | -167 | -132 | -140 | -198 | -145 | -166 | -223 | -171 | -154 | -146 | -115 | -168 |
Sale of Property, Plant & Equipment | - | 1 | 10 | -1 | 1 | - | - | -1 | - | - | 1 | - | 1 | 1 | 2 | 1 | - | - | - | 2 |
Cash Acquisitions | -155 | - | - | -14 | - | -10 | - | - | - | -8 | - | - | -148 | - | -7 | -216 | -3 | -89 | -4 | - |
Divestitures | - | - | - | - | - | -4 | - | 293 | - | - | - | - | 3 | 93 | - | - | - | - | - | - |
Investment in Securities | -2 | -206 | -2 | -1 | -2 | -1 | -2 | -1 | -1 | -2 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -2 | -5 | -2 |
Other Investing Activities | 2 | 22 | 15 | 11 | -29 | -51 | -23 | 51 | -10 | 10 | 9 | -11 | 19 | -7 | 13 | -51 | 34 | 34 | 6 | 26 |
Investing Cash Flow | -262 | -300 | -87 | -166 | -168 | -212 | -203 | 126 | -178 | -132 | -131 | -210 | -271 | -80 | -216 | -438 | -124 | -203 | -118 | -142 |
Financing Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | - | - | - | - | - | - | - | - | - | 21 | - | - | - | 1 | - | - | - | - | - |
Total Debt Issued | - | - | - | 2,000 | 1,848 | - | - | - | - | -21 | 21 | 1 | - | -1 | 1 | 1,347 | 1 | 2 | - | - |
Long-Term Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -1,350 | - | - | - | - | - |
Total Debt Repaid | - | - | - | -187 | -1,350 | - | - | - | - | -3 | - | - | - | - | -1,350 | - | - | - | - | - |
Net Debt Issued (Repaid) | - | - | - | 1,813 | 498 | - | - | - | - | -24 | 21 | 1 | - | -1 | -1,349 | 1,347 | 1 | 2 | - | - |
Issuance of Common Stock | - | - | - | - | - | - | - | - | - | - | - | 9 | 10 | 4 | 4 | - | - | - | - | - |
Repurchase of Common Stock | -500 | -589 | -613 | -2,059 | -394 | -341 | -452 | -551 | -431 | -537 | -347 | -235 | -250 | -324 | -283 | -405 | -377 | -459 | -391 | -196 |
Common Dividends Paid | -219 | -223 | -224 | -220 | -222 | -223 | -224 | -194 | -197 | -197 | -198 | -172 | -173 | -173 | -174 | -151 | -153 | -153 | -154 | -117 |
Other Financing Activities | 1 | -1 | -3 | -29 | -16 | - | -1 | - | - | -5 | - | - | -3 | - | - | -11 | - | - | - | -1 |
Financing Cash Flow | -718 | -813 | -840 | -495 | -134 | -564 | -677 | -745 | -628 | -763 | -524 | -397 | -416 | -494 | -1,802 | 780 | -529 | -610 | -545 | -314 |
Net Cash Flow
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | 13 | -7 | 17 | -4 | 4 | 21 | 33 | -13 | -5 | -8 | -6 | -3 | - | -1 | -3 | -9 | -18 | -6 | 4 | -12 |
Net Cash Flow | -143 | -465 | -509 | 228 | 638 | -150 | -332 | 273 | 140 | -401 | -66 | 287 | 37 | -392 | -1,472 | 1,074 | -145 | -483 | -350 | 211 |
Free Cash Flow
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 717 | 538 | 291 | 732 | 798 | 459 | 337 | 689 | 784 | 370 | 455 | 699 | 579 | 17 | 326 | 570 | 372 | 190 | 194 | 511 |
Free Cash Flow Growth (YoY) | -10.15% | 17.21% | -13.65% | 6.24% | 1.79% | 24.05% | -25.93% | -1.43% | 35.41% | 2076.47% | 39.57% | 22.63% | 55.65% | -91.05% | 68.04% | 11.55% | -30.34% | -48.37% | -39.94% | -9.72% |
Free Cash Flow Margin | 29.99% | 21.80% | 12.86% | 30.67% | 32.95% | 18.55% | 15.33% | 29.74% | 32.83% | 15.67% | 20.78% | 31.59% | 26.92% | 0.78% | 16.30% | 27.94% | 18.58% | 9.26% | 9.77% | 25.98% |
Free Cash Flow Per Share | 1.74 | 1.29 | 0.69 | 1.67 | 1.80 | 1.03 | 0.75 | 1.53 | 1.73 | 0.81 | 0.99 | 1.52 | 1.25 | 0.04 | 0.70 | 1.22 | 0.79 | 0.40 | 0.41 | 1.07 |
Levered Free Cash Flow | 374.88 | 479 | 306.13 | 881.88 | 338.75 | 242.88 | 316.13 | 1,254 | 476.38 | 211.38 | 434.38 | 750.13 | 294.88 | 6 | 226.63 | 623.5 | 179.75 | 170.63 | 200 | 527 |
Unlevered Free Cash Flow | 413.63 | 517.13 | 344.88 | 917.5 | 375 | 276 | 349.88 | 1,286 | 512 | 248.25 | 470.63 | 787 | 331.75 | 42.25 | 266 | 662.25 | 212.88 | 203.75 | 233.13 | 560.75 |
Additional Metrics
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 110 | 39 | 109 | 36 | 88 | 69 | 68 | 69 | 67 | 70 | 68 | 70 | 67 | 69 | 89 | 33 | 88 | 32 | 89 | 32 |
Cash Income Tax Paid | 72 | 380 | 50 | 133 | 102 | 412 | 60 | 235 | 176 | 422 | 59 | 168 | 128 | 438 | 20 | 167 | 155 | 290 | 26 | 136 |
Change in Working Capital | -40 | -158 | -385 | 170 | 44 | -314 | -257 | 309 | 130 | -239 | -121 | 202 | -48 | -511 | -155 | 124 | -112 | -326 | -385 | 62 |