Zoetis Inc
NYSE:ZTS
Income Statement
Earnings Waterfall
Zoetis Inc
Income Statement
Zoetis Inc
| Dec-2011 | Apr-2012 | Jul-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Apr-2016 | Jul-2016 | Oct-2016 | Dec-2016 | Apr-2017 | Jul-2017 | Oct-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | Dec-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Expense |
36
|
35
|
34
|
32
|
31
|
45
|
69
|
91
|
113
|
120
|
117
|
117
|
117
|
116
|
116
|
116
|
124
|
139
|
151
|
163
|
166
|
164
|
164
|
166
|
175
|
181
|
186
|
197
|
206
|
215
|
224
|
226
|
223
|
220
|
223
|
229
|
231
|
235
|
234
|
228
|
224
|
220
|
216
|
213
|
221
|
231
|
236
|
242
|
239
|
234
|
235
|
233
|
225
|
221
|
215
|
216
|
222
|
|
| Revenue |
4 233
N/A
|
4 297
+2%
|
4 317
+0%
|
4 287
-1%
|
4 336
+1%
|
4 379
+1%
|
4 399
+0%
|
4 483
+2%
|
4 561
+2%
|
4 568
+0%
|
4 612
+1%
|
4 719
+2%
|
4 785
+1%
|
4 790
+0%
|
4 807
+0%
|
4 811
+0%
|
4 765
-1%
|
4 825
+1%
|
4 858
+1%
|
4 885
+1%
|
4 888
+0%
|
4 957
+1%
|
5 018
+1%
|
5 124
+2%
|
5 307
+4%
|
5 442
+3%
|
5 588
+3%
|
5 721
+2%
|
5 825
+2%
|
5 914
+2%
|
6 046
+2%
|
6 150
+2%
|
6 260
+2%
|
6 339
+1%
|
6 340
+0%
|
6 542
+3%
|
6 675
+2%
|
7 012
+5%
|
7 412
+6%
|
7 616
+3%
|
7 776
+2%
|
7 891
+1%
|
7 995
+1%
|
8 007
+0%
|
8 080
+1%
|
8 094
+0%
|
8 222
+2%
|
8 371
+2%
|
8 544
+2%
|
8 734
+2%
|
8 915
+2%
|
9 152
+3%
|
9 256
+1%
|
9 286
+0%
|
9 385
+1%
|
9 397
+0%
|
9 467
+1%
|
|
| Gross Profit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(1 646)
|
(1 653)
|
(1 575)
|
(1 535)
|
(1 553)
|
(1 565)
|
(1 604)
|
(1 626)
|
(1 645)
|
(1 627)
|
(1 619)
|
(1 669)
|
(1 685)
|
(1 701)
|
(1 714)
|
(1 703)
|
(1 714)
|
(1 709)
|
(1 683)
|
(1 669)
|
(1 636)
|
(1 690)
|
(1 731)
|
(1 757)
|
(1 763)
|
(1 767)
|
(1 773)
|
(1 813)
|
(1 883)
|
(1 956)
|
(1 977)
|
(1 984)
|
(1 976)
|
(1 921)
|
(1 905)
|
(1 973)
|
(2 045)
|
(2 130)
|
(2 248)
|
(2 287)
|
(2 285)
|
(2 307)
|
(2 367)
|
(2 391)
|
(2 446)
|
(2 435)
|
(2 417)
|
(2 448)
|
(2 524)
|
(2 611)
|
(2 672)
|
(2 734)
|
(2 714)
|
(2 695)
|
(2 675)
|
(2 658)
|
(2 658)
|
|
| Gross Profit |
2 587
N/A
|
2 644
+2%
|
2 742
+4%
|
2 752
+0%
|
2 783
+1%
|
2 814
+1%
|
2 795
-1%
|
2 857
+2%
|
2 916
+2%
|
2 941
+1%
|
2 993
+2%
|
3 050
+2%
|
3 100
+2%
|
3 089
0%
|
3 093
+0%
|
3 108
+0%
|
3 051
-2%
|
3 116
+2%
|
3 175
+2%
|
3 216
+1%
|
3 252
+1%
|
3 267
+0%
|
3 287
+1%
|
3 367
+2%
|
3 544
+5%
|
3 675
+4%
|
3 815
+4%
|
3 908
+2%
|
3 942
+1%
|
3 958
+0%
|
4 069
+3%
|
4 166
+2%
|
4 284
+3%
|
4 418
+3%
|
4 435
+0%
|
4 569
+3%
|
4 630
+1%
|
4 882
+5%
|
5 164
+6%
|
5 329
+3%
|
5 491
+3%
|
5 584
+2%
|
5 628
+1%
|
5 616
0%
|
5 634
+0%
|
5 659
+0%
|
5 805
+3%
|
5 923
+2%
|
6 020
+2%
|
6 123
+2%
|
6 243
+2%
|
6 418
+3%
|
6 542
+2%
|
6 591
+1%
|
6 710
+2%
|
6 739
+0%
|
6 809
+1%
|
|
| Operating Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(1 902)
|
(1 964)
|
(1 920)
|
(1 914)
|
(1 888)
|
(1 918)
|
(1 980)
|
(2 058)
|
(2 067)
|
(2 057)
|
(2 061)
|
(2 055)
|
(2 102)
|
(2 090)
|
(2 068)
|
(2 043)
|
(1 952)
|
(1 931)
|
(1 898)
|
(1 876)
|
(1 815)
|
(1 804)
|
(1 798)
|
(1 787)
|
(1 793)
|
(1 829)
|
(1 864)
|
(1 908)
|
(2 018)
|
(2 062)
|
(2 140)
|
(2 194)
|
(2 250)
|
(2 275)
|
(2 264)
|
(2 300)
|
(2 354)
|
(2 388)
|
(2 502)
|
(2 597)
|
(2 674)
|
(2 732)
|
(2 769)
|
(2 767)
|
(2 684)
|
(2 746)
|
(2 788)
|
(2 836)
|
(2 915)
|
(2 980)
|
(3 029)
|
(3 081)
|
(3 149)
|
(3 145)
|
(3 173)
|
(3 145)
|
(3 187)
|
|
| Selling, General & Administrative |
(1 447)
|
(1 443)
|
(1 434)
|
(1 437)
|
(1 457)
|
(1 480)
|
(1 530)
|
(1 597)
|
(1 610)
|
(1 612)
|
(1 609)
|
(1 604)
|
(1 643)
|
(1 641)
|
(1 624)
|
(1 604)
|
(1 532)
|
(1 493)
|
(1 457)
|
(1 428)
|
(1 364)
|
(1 358)
|
(1 351)
|
(1 334)
|
(1 334)
|
(1 363)
|
(1 386)
|
(1 425)
|
(1 484)
|
(1 515)
|
(1 562)
|
(1 586)
|
(1 638)
|
(1 658)
|
(1 645)
|
(1 678)
|
(1 726)
|
(1 746)
|
(1 848)
|
(1 928)
|
(2 001)
|
(2 057)
|
(2 091)
|
(2 088)
|
(2 009)
|
(2 049)
|
(2 076)
|
(2 100)
|
(2 151)
|
(2 193)
|
(2 218)
|
(2 258)
|
(2 318)
|
(2 334)
|
(2 361)
|
(2 368)
|
(2 355)
|
|
| Research & Development |
(407)
|
(402)
|
(393)
|
(389)
|
(399)
|
(396)
|
(399)
|
(399)
|
(399)
|
(396)
|
(393)
|
(393)
|
(396)
|
(389)
|
(381)
|
(379)
|
(364)
|
(374)
|
(378)
|
(377)
|
(376)
|
(376)
|
(374)
|
(380)
|
(382)
|
(389)
|
(405)
|
(417)
|
(432)
|
(437)
|
(446)
|
(450)
|
(457)
|
(462)
|
(462)
|
(462)
|
(463)
|
(474)
|
(483)
|
(503)
|
(508)
|
(512)
|
(527)
|
(529)
|
(539)
|
(559)
|
(570)
|
(588)
|
(614)
|
(634)
|
(659)
|
(674)
|
(686)
|
(681)
|
(682)
|
(685)
|
(698)
|
|
| Depreciation & Amortization |
(69)
|
(69)
|
(67)
|
(66)
|
(64)
|
(63)
|
(62)
|
(61)
|
(60)
|
(60)
|
(60)
|
(61)
|
(60)
|
(60)
|
(60)
|
(59)
|
(61)
|
(67)
|
(74)
|
(80)
|
(85)
|
(86)
|
(87)
|
(89)
|
(91)
|
(92)
|
(92)
|
(101)
|
(117)
|
(132)
|
(148)
|
(154)
|
(155)
|
(157)
|
(158)
|
(160)
|
(160)
|
(160)
|
(161)
|
(161)
|
(161)
|
(162)
|
(158)
|
(155)
|
(150)
|
(146)
|
(146)
|
(147)
|
(149)
|
(149)
|
(147)
|
(144)
|
(141)
|
(136)
|
(134)
|
(131)
|
(128)
|
|
| Other Operating Expenses |
21
|
(50)
|
(26)
|
(22)
|
32
|
21
|
11
|
(1)
|
2
|
11
|
1
|
3
|
(3)
|
0
|
(3)
|
(1)
|
5
|
3
|
11
|
9
|
10
|
16
|
14
|
16
|
14
|
15
|
19
|
35
|
15
|
22
|
16
|
(4)
|
0
|
2
|
1
|
0
|
(5)
|
(8)
|
(10)
|
(5)
|
(4)
|
(1)
|
7
|
5
|
14
|
8
|
4
|
(1)
|
(1)
|
(4)
|
(5)
|
(5)
|
(4)
|
6
|
4
|
39
|
(6)
|
|
| Operating Income |
685
N/A
|
680
-1%
|
822
+21%
|
838
+2%
|
895
+7%
|
896
+0%
|
815
-9%
|
799
-2%
|
849
+6%
|
884
+4%
|
932
+5%
|
995
+7%
|
998
+0%
|
999
+0%
|
1 025
+3%
|
1 065
+4%
|
1 099
+3%
|
1 185
+8%
|
1 277
+8%
|
1 340
+5%
|
1 437
+7%
|
1 463
+2%
|
1 489
+2%
|
1 580
+6%
|
1 751
+11%
|
1 846
+5%
|
1 951
+6%
|
2 000
+3%
|
1 924
-4%
|
1 896
-1%
|
1 929
+2%
|
1 972
+2%
|
2 034
+3%
|
2 143
+5%
|
2 171
+1%
|
2 269
+5%
|
2 276
+0%
|
2 494
+10%
|
2 662
+7%
|
2 732
+3%
|
2 817
+3%
|
2 852
+1%
|
2 859
+0%
|
2 849
0%
|
2 950
+4%
|
2 913
-1%
|
3 017
+4%
|
3 087
+2%
|
3 105
+1%
|
3 143
+1%
|
3 214
+2%
|
3 337
+4%
|
3 393
+2%
|
3 446
+2%
|
3 537
+3%
|
3 594
+2%
|
3 622
+1%
|
|
| Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
(36)
|
(35)
|
(34)
|
(32)
|
(31)
|
(45)
|
(69)
|
(91)
|
(133)
|
(137)
|
(141)
|
(148)
|
(145)
|
(143)
|
(140)
|
(139)
|
(226)
|
(242)
|
(258)
|
(269)
|
(215)
|
(206)
|
(206)
|
(210)
|
(204)
|
(216)
|
(222)
|
(229)
|
(206)
|
(211)
|
(209)
|
(205)
|
(202)
|
(208)
|
(217)
|
(228)
|
(240)
|
(247)
|
(249)
|
(248)
|
(245)
|
(248)
|
(246)
|
(234)
|
(233)
|
(210)
|
(196)
|
(200)
|
(181)
|
(187)
|
(192)
|
(176)
|
(169)
|
(163)
|
(158)
|
(164)
|
(174)
|
|
| Non-Reccuring Items |
(255)
|
(192)
|
(187)
|
(140)
|
(154)
|
(120)
|
(80)
|
(70)
|
(26)
|
(22)
|
(53)
|
(56)
|
(33)
|
(33)
|
(289)
|
(295)
|
(328)
|
(296)
|
(13)
|
(5)
|
6
|
(24)
|
(37)
|
(44)
|
(22)
|
(25)
|
(32)
|
(69)
|
(28)
|
(31)
|
(48)
|
15
|
(31)
|
(18)
|
(10)
|
(28)
|
(40)
|
(61)
|
(73)
|
(82)
|
(84)
|
(76)
|
(51)
|
(45)
|
(61)
|
(77)
|
7
|
(9)
|
12
|
30
|
(128)
|
(110)
|
(91)
|
(87)
|
(61)
|
(99)
|
(88)
|
|
| Pre-Tax Income |
394
N/A
|
453
+15%
|
601
+33%
|
666
+11%
|
710
+7%
|
731
+3%
|
666
-9%
|
638
-4%
|
690
+8%
|
725
+5%
|
738
+2%
|
791
+7%
|
820
+4%
|
823
+0%
|
596
-28%
|
631
+6%
|
545
-14%
|
647
+19%
|
1 006
+55%
|
1 066
+6%
|
1 228
+15%
|
1 233
+0%
|
1 246
+1%
|
1 326
+6%
|
1 525
+15%
|
1 605
+5%
|
1 697
+6%
|
1 702
+0%
|
1 690
-1%
|
1 654
-2%
|
1 672
+1%
|
1 782
+7%
|
1 801
+1%
|
1 917
+6%
|
1 944
+1%
|
2 013
+4%
|
1 996
-1%
|
2 186
+10%
|
2 340
+7%
|
2 402
+3%
|
2 488
+4%
|
2 528
+2%
|
2 562
+1%
|
2 570
+0%
|
2 656
+3%
|
2 626
-1%
|
2 828
+8%
|
2 878
+2%
|
2 936
+2%
|
2 986
+2%
|
2 894
-3%
|
3 051
+5%
|
3 133
+3%
|
3 196
+2%
|
3 318
+4%
|
3 331
+0%
|
3 360
+1%
|
|
| Net Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
(146)
|
(170)
|
(211)
|
(210)
|
(274)
|
(267)
|
(247)
|
(249)
|
(187)
|
(207)
|
(209)
|
(226)
|
(233)
|
(226)
|
(174)
|
(186)
|
(206)
|
(269)
|
(368)
|
(381)
|
(409)
|
(379)
|
(369)
|
(390)
|
(451)
|
(422)
|
(412)
|
(389)
|
(311)
|
(311)
|
(307)
|
(308)
|
(301)
|
(306)
|
(328)
|
(351)
|
(360)
|
(415)
|
(434)
|
(423)
|
(454)
|
(458)
|
(474)
|
(506)
|
(545)
|
(558)
|
(619)
|
(601)
|
(596)
|
(598)
|
(552)
|
(613)
|
(637)
|
(668)
|
(696)
|
(680)
|
(687)
|
|
| Income from Continuing Operations |
248
|
283
|
390
|
456
|
436
|
464
|
419
|
389
|
503
|
518
|
529
|
565
|
587
|
597
|
422
|
445
|
339
|
378
|
638
|
685
|
819
|
854
|
877
|
936
|
1 074
|
1 183
|
1 285
|
1 313
|
1 379
|
1 343
|
1 365
|
1 474
|
1 500
|
1 611
|
1 616
|
1 662
|
1 636
|
1 771
|
1 906
|
1 979
|
2 034
|
2 070
|
2 088
|
2 064
|
2 111
|
2 068
|
2 209
|
2 277
|
2 340
|
2 388
|
2 342
|
2 438
|
2 496
|
2 528
|
2 622
|
2 651
|
2 673
|
|
| Income to Minority Interest |
(3)
|
(3)
|
(3)
|
(1)
|
0
|
1
|
1
|
0
|
1
|
1
|
(2)
|
(3)
|
(4)
|
(4)
|
(2)
|
(2)
|
0
|
0
|
1
|
4
|
2
|
1
|
1
|
1
|
2
|
5
|
7
|
5
|
4
|
2
|
0
|
0
|
0
|
0
|
1
|
1
|
2
|
3
|
3
|
3
|
3
|
3
|
2
|
3
|
3
|
3
|
4
|
3
|
4
|
3
|
2
|
(8)
|
(10)
|
(10)
|
(10)
|
0
|
0
|
|
| Net Income (Common) |
245
N/A
|
280
+14%
|
387
+38%
|
455
+18%
|
436
-4%
|
465
+7%
|
420
-10%
|
389
-7%
|
504
+30%
|
519
+3%
|
527
+2%
|
562
+7%
|
583
+4%
|
593
+2%
|
420
-29%
|
443
+5%
|
339
-23%
|
378
+12%
|
639
+69%
|
689
+8%
|
821
+19%
|
855
+4%
|
878
+3%
|
937
+7%
|
864
-8%
|
978
+13%
|
1 115
+14%
|
1 164
+4%
|
1 428
+23%
|
1 388
-3%
|
1 375
-1%
|
1 461
+6%
|
1 500
+3%
|
1 611
+7%
|
1 617
+0%
|
1 663
+3%
|
1 638
-2%
|
1 774
+8%
|
1 909
+8%
|
1 982
+4%
|
2 037
+3%
|
2 073
+2%
|
2 090
+1%
|
2 067
-1%
|
2 114
+2%
|
2 071
-2%
|
2 213
+7%
|
2 280
+3%
|
2 344
+3%
|
2 391
+2%
|
2 344
-2%
|
2 430
+4%
|
2 486
+2%
|
2 518
+1%
|
2 612
+4%
|
2 651
+1%
|
2 673
+1%
|
|
| EPS (Diluted) |
0.49
N/A
|
0.56
+14%
|
0.78
+39%
|
0.91
+17%
|
0.87
-4%
|
0.93
+7%
|
0.84
-10%
|
0.78
-7%
|
1.01
+29%
|
1.04
+3%
|
1.05
+1%
|
1.12
+7%
|
1.16
+4%
|
1.18
+2%
|
0.84
-29%
|
0.89
+6%
|
0.68
-24%
|
0.76
+12%
|
1.28
+68%
|
1.38
+8%
|
1.65
+20%
|
1.72
+4%
|
1.77
+3%
|
1.9
+7%
|
1.75
-8%
|
1.99
+14%
|
2.28
+15%
|
2.39
+5%
|
2.93
+23%
|
2.87
-2%
|
2.85
-1%
|
3.03
+6%
|
3.11
+3%
|
3.36
+8%
|
3.38
+1%
|
3.48
+3%
|
3.42
-2%
|
3.71
+8%
|
3.99
+8%
|
4.15
+4%
|
4.27
+3%
|
4.36
+2%
|
4.43
+2%
|
4.4
-1%
|
4.49
+2%
|
4.45
-1%
|
4.78
+7%
|
4.94
+3%
|
5.07
+3%
|
5.21
+3%
|
5.14
-1%
|
5.35
+4%
|
5.47
+2%
|
5.62
+3%
|
5.86
+4%
|
5.98
+2%
|
6.02
+1%
|
|