Income StatementBalance SheetCash FlowSegments
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Zoetis Business Segments

Business, geographic, and product segment breakdowns

Zoetis generates $9.5B in annual revenue across 2 key segments: International ($4.4B), and U.S. ($5.0B). Based on the Q1 2026 filing.

International (TTM)$4.4BU.S. (TTM)$5.0B
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$31.6B
P/E Ratio11.84
ROE67.75%

Products & Services

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Dogs and Cats—$1.5B$1.7B$1.6B—$1.4B
Parasiticides$519.0M$562.0M$673.0M$564.0M$542.0M$586.0M
Vaccines$462.0M$447.0M$504.0M$496.0M$512.0M$519.0M
Cattle$399.0M$358.0M$320.0M$399.0M$415.0M$392.0M
Dermatology$421.0M$390.0M$463.0M$472.0M$429.0M$349.0M
Anti-infectives$281.0M$249.0M$219.0M$284.0M$284.0M$241.0M
Pain and sedation$217.0M$210.0M$217.0M$204.0M$209.0M$203.0M
Other pharmaceutical$180.0M$159.0M$172.0M$178.0M$188.0M$158.0M
Swine$128.0M$111.0M$119.0M$111.0M$125.0M$123.0M
Poultry$117.0M$106.0M$103.0M$106.0M$117.0M$118.0M
Animal health diagnostics$100.0M$103.0M$110.0M$110.0M$111.0M$117.0M
Horses$5.8B$65.0M$72.0M$66.0M$6.1B$76.0M
Fish$65.0M$53.0M$74.0M$78.0M$81.0M$66.0M
Other Non Pharmaceuticals$65.0M$66.0M$63.0M$64.0M$70.0M$66.0M
Contract manufacturing & human health$21.0M$29.0M$34.0M$23.0M$30.0M$23.0M
Sheep and other$17.0M$17.0M$22.0M$31.0M$18.0M$21.0M

Number of countries in which entity markets products

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product10000.0%10000.0%10000.0%10000.0%10000.0%10000.0%

Cost of Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Shipping and Handling$26.8M$25.5M$25.5M$25.5M$25.5M—

Geographic

Additions / Adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International—$1.8M$1.8M$1.8M$1.8M—

Property, plant and equipment, less accumulated depreciation of $2,925 in 2025 and $2,635 in 2024

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International$1.1B———$1.2B—

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non-US$1.2B———$1.3B$1.3B

Other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non-US—-$8.0M———$4.0M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total geographical area$2.3B$2.2B$2.4B$2.4B$2.4B$2.2B
Other emerging markets$195.0M$248.0M$225.0M$228.0M$212.0M$291.0M
Other developed markets$151.0M$133.0M$162.0M$164.0M$182.0M$169.0M

Business Segments

Cost of Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International$336.0M$302.0M$314.0M$331.0M$365.0M$334.0M
U.S.$229.0M$199.0M$208.0M$222.0M$213.0M$194.0M

Depreciation and amortization expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International$23.0M$23.0M$25.0M$26.0M$26.0M$26.0M
U.S.$20.0M$23.0M$22.0M$25.0M$23.0M$23.0M
Other business activities$14.0M$11.0M$13.0M$14.0M$13.0M$13.0M

Gross margin, percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.—83.2%84.7%83.2%—82.2%
International—70.0%70.7%68.6%—70.9%

Gross Profit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.$1.0B$984.0M$1.1B$1.1B$1.0B$896.0M
International$703.0M$706.0M$756.0M$724.0M$756.0M$815.0M

Income before provision for taxes on income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.$819.0M$779.0M$930.0M$899.0M$830.0M$697.0M
International$523.0M$551.0M$583.0M$556.0M$574.0M$639.0M
Other business activities-$151.0M-$129.0M-$134.0M-$140.0M-$159.0M-$141.0M

Nonoperating Income (Expense)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International$2.0M-$1.0M$0.0-$1.0M$3.0M-$1.0M
U.S.-$3.0M$0.0$0.0$0.0$0.0$0.0

Operating expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.$212.0M$205.0M$218.0M$201.0M$193.0M$199.0M
International$180.0M$154.0M$173.0M$167.0M$183.0M$175.0M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International$1.0B$1.0B$1.1B$1.1B$1.1B$1.1B
U.S.$1.3B$1.2B$1.4B$1.3B$1.2B$1.1B