Zoetis income statement
In fiscal 2025, Zoetis reported revenue of $9.47bn, up 2.3% on the year before and net income of $2.67bn, or $6.02 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4,233 | 4,336 | 4,561 | 4,785 | 4,765 | 4,888 | 5,307 | 5,825 | 6,260 | 6,675 | 7,776 | 8,080 | 8,544 | 9,256 | 9,467 | 9,517 |
| Cost of revenue | 1,652 | 1,563 | 1,669 | 1,717 | 1,738 | 1,666 | 1,775 | 1,911 | 1,992 | 2,057 | 2,303 | 2,454 | 2,561 | 2,719 | 2,666 | 2,709 |
| Gross profit | 2,581 | 2,773 | 2,892 | 3,068 | 3,027 | 3,222 | 3,532 | 3,914 | 4,268 | 4,618 | 5,473 | 5,626 | 5,983 | 6,537 | 6,801 | 6,808 |
| Research and development | 427 | 409 | 399 | 396 | 364 | 376 | 382 | 432 | 457 | 463 | 508 | 539 | 614 | 686 | 698 | 722 |
| Selling, general and administrative | 1,453 | 1,470 | 1,613 | 1,643 | 1,532 | 1,364 | 1,334 | 1,484 | 1,638 | 1,726 | 2,001 | 2,009 | 2,151 | 2,318 | 2,378 | 2,378 |
| Interest expense | 36 | 31 | 113 | 117 | 124 | 166 | 175 | 206 | 223 | 231 | 224 | 221 | 239 | 225 | 222 | 238 |
| Income before tax | 394 | 710 | 690 | 820 | 545 | 1,228 | 1,525 | 1,690 | 1,801 | 1,996 | 2,488 | 2,656 | 2,936 | 3,133 | 3,360 | 3,272 |
| Income tax | 146 | 274 | 187 | 233 | 206 | 409 | 663 | 266 | 301 | 360 | 454 | 545 | 596 | 637 | 687 | 656 |
| Net income | 245 | 436 | 504 | 583 | 339 | 821 | 864 | 1,428 | 1,500 | 1,638 | 2,037 | 2,114 | 2,344 | 2,486 | 2,673 | 2,616 |
| Diluted EPS | $0.49 | $0.87 | $1.01 | $1.16 | $0.68 | $1.65 | $1.75 | $2.93 | $3.11 | $3.42 | $4.27 | $4.49 | $5.07 | $5.47 | $6.02 | $6.08 |
| Diluted shares (average) | 500m | 500m | 500m | 502m | 502m | 498m | 493m | 487m | 482m | 479m | 477m | 470m | 462m | 455m | 444m | 430m |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,388 | 2,317 | 2,198 | 2,474 | 2,400 | 2,387 | 2,262 | 2,468 |
| Cost of revenue | 701 | 707 | 618 | 664 | 683 | 712 | 641 | 673 |
| Gross profit | 1,687 | 1,610 | 1,580 | 1,810 | 1,717 | 1,675 | 1,621 | 1,795 |
| Research and development | 167 | 186 | 162 | 166 | 170 | 199 | 180 | 173 |
| Selling, general and administrative | 565 | 625 | 574 | 614 | 579 | 619 | 588 | 592 |
| Interest expense | 57 | 51 | 54 | 53 | 58 | 57 | 62 | 61 |
| Income before tax | 874 | 732 | 773 | 912 | 887 | 761 | 758 | 866 |
| Income tax | 182 | 151 | 171 | 186 | 166 | 158 | 157 | 175 |
| Net income | 682 | 581 | 602 | 726 | 721 | 603 | 601 | 691 |
| Diluted EPS | $1.50 | $1.29 | $1.34 | $1.63 | $1.63 | $1.37 | $1.42 | $1.65 |
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