Zoetis (ZTS) Q4 2025 Financial Results Summary
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Zoetis Inc. (ZTS) Q4 2025 Financial Results Summary
PARSIPPANY, N.J. – February 12, 2026 – Zoetis Inc. (NYSE: ZTS), the leading animal health company, today reported its financial results for the fourth quarter and full year 2025, along with guidance for 2026.
Financial Highlights
Fourth Quarter 2025:
- Revenue: $2.4 billion, up 3% compared to Q4 2024.
- Organic Operational Growth: 4%.
- Net Income: $603 million, or $1.37 per diluted share, an increase of 4% and 6%, respectively, on a reported basis.
- Adjusted Net Income: $648 million, or adjusted diluted EPS of $1.48, an increase of 3% and 6%, respectively, on a reported basis.
- Organic Operational Growth: 4% and 7%, respectively.
Full Year 2025:
- Revenue: $9.5 billion, up 2% compared to 2024.
- Organic Operational Growth: 6%.
- Net Income: $2.7 billion, or $6.02 per diluted share, an increase of 8% and 10%, respectively, on a reported basis.
- Adjusted Net Income: $2.8 billion, with adjusted diluted EPS of $6.41, up 6% and 8% on a reported basis.
- Organic Operational Growth: 7% and 10%, respectively.
Revenue Segment Performance (Q4 2025):
- U.S. Segment:
- Revenue: $1.2 billion, down 2% on a reported basis but flat on an organic operational basis.
- Companion animal products declined 1%; livestock products declined 6% due to divestitures.
- International Segment:
- Revenue: $1.1 billion, up 8% on a reported basis and 7% on an organic operational basis.
- Companion animal products grew 7% on a reported basis; livestock products increased 9% reported and 12% organic operationally.
Guidance for Full Year 2026:
- Revenue Guidance: Expected between $9.825 billion and $10.025 billion.
- Diluted EPS: Projected between $6.65 to $6.75 on a reported basis; adjusted diluted EPS forecasted between $7.00 to $7.10.
- Organic Operational Growth: Expected at 3% to 5%.
Investments and Innovations
- Continued expansion with approximately 185 geographic expansions and new product innovations.
- Notable achievements include regulatory approvals for long-acting pain medications (Lenivia for dogs and Portela for cats).
- Advancements in diagnostics capabilities with the acquisition of Veterinary Pathology Group.
Dividend and Share Repurchase
- Share Repurchase: No mention of any specific share repurchase program in the report.
- Dividends: The report does not mention the declaration of a quarterly dividend.
Closing Remarks
- The overall performance highlights Zoetis’s resilience in a dynamic operating environment, with significant contributions from its innovative pipeline and established product lines across various markets and species.
Zoetis remains committed to advancing animal health and delivering long-term value creation.
For more details, Zoetis will host a conference call today for discussion and Q&A about its financial results and outlook. Please visit the Zoetis website for access to the live event.
| Three Months | 2025 | 2024 | % Change | Twelve Months | 2025 | 2024 | % Change |
|---|---|---|---|---|---|---|---|
| Ended December 31, | Ended December 31, | ||||||
| Revenue | 2,387 | 2,317 | Revenue | 9,467 | 9,256 | ||
| Costs and expenses: | Costs and expenses: | ||||||
| Cost of sales | 712 | 707 | Cost of sales | 2,666 | 2,719 | ||
| Selling, general and administrative expenses | 619 | 625 | Selling, general and administrative expenses | 2,378 | 2,318 | ||
| Research and development expenses | 199 | 186 | Research and development expenses | 698 | 686 | ||
| Amortization of intangible assets | 31 | 34 | Amortization of intangible assets | 128 | 141 | ||
| Restructuring charges and certain acquisition costs | 17 | 2 | Restructuring charges and certain acquisition costs | 51 | 53 | ||
| Interest expense | 57 | 51 | Interest expense | 222 | 225 | ||
| Other (income)/ded. | -9 | -20 | Other (income)/ded. | -36 | -19 | ||
| Income before provision for taxes on income | 761 | 732 | Income before provision for taxes on income | 3,360 | 3,133 | ||
| Provision for taxes on income | 158 | 151 | Provision for taxes on income | 687 | 637 | ||
| Net income before allocation to noncontrolling interests | 603 | 581 | Net income before allocation to noncontrolling interests | 2,673 | 2,496 | ||
| Less: Net income/(loss) attributable to noncontrolling interests | – | – | Less: Net income/(loss) attributable to noncontrolling interests | – | 10 | ||
| Net income attributable to Zoetis | 603 | 581 | Net income attributable to Zoetis | 2,673 | 2,486 | ||
| Earnings per share—basic | 1.38 | 1.29 | Earnings per share—basic | 6.03 | 5.47 | ||
| Earnings per share—diluted | 1.37 | 1.29 | Earnings per share—diluted | 6.02 | 5.47 | ||
| Weighted-average shares used to compute earnings per share | 438.2 | 450.5 | Weighted-average shares used to compute earnings per share | 443.4 | 454.2 |
| On December 31, | 2025 | 2024 |
|---|---|---|
| Assets: | ||
| Current assets: | ||
| Cash and cash equivalents | 1,576 | 1,644 |
| Other current assets | 970 | 773 |
| Total current assets | 2,546 | 2,417 |
| Property, plant, and equipment, net | 1,940 | 1,958 |
| Goodwill | 3,780 | 3,724 |
| Other intangible assets | 706 | 710 |
| Total assets | 9,972 | 9,809 |
| Liabilities: | ||
| Current liabilities: | ||
| Accounts payable | 574 | 622 |
| Other current liabilities | 727 | 673 |
| Total current liabilities | 1,301 | 1,295 |
| Long-term debt | 2,664 | 2,756 |
| Other liabilities | 548 | 508 |
| Total liabilities | 4,513 | 4,559 |
| Equity: | ||
| Common stock and additional paid-in capital | 5,387 | 5,097 |
| Accumulated other comprehensive income | -166 | -161 |
| Retained earnings | 632 | 813 |
| Total equity | 5,459 | 5,250 |
| Total liabilities and equity | 9,972 | 9,809 |