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Zoetis ZTS Q2 2026 earnings

Reported August 6, 2026 · Before market open

Revenue$2.5BMiss by $33.5M
Adjusted EPS$1.87Beat by $0.02
Revenue estimate$2.5B
EPS estimate$1.85
Second quarter results reflected a more pressured Companion Animal market, as lower clinic visits and pet owner price sensitivity reduced demand across parts of our portfolio and heightened competition in key categories. At the same time, these dynamics reinforce the enduring attractiveness of the markets Zoetis has helped define and advance. We are adapting our commercial strategy to the marketplace in front of us, deploying targeted investments, accelerating innovation, and pursuing business development to strengthen our position in areas aligned with the future of animal health. We also continue to benefit from the breadth of our diversified portfolio, including strength in Livestock and Diagnostics. As we advance our robust pipeline, including more than 12 potential blockbusters over the coming years, we are acting with urgency and 1 | remain confident in the long-term fundamentals of animal health and in Zoetis' ability to compete, lead, and create shareholder value.
Kristin Peck

Next report

Nov 3, 2026 (in 2 months)
Revenue estimate$2.3B
EPS estimate$1.51

Financials

Q2 2026

Income statement

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Revenue$2.5B-0.2%
Gross profit$1.8B-0.8%
Net income$691.0M-4.8%
EPS (diluted)$1.65+1.2%

Balance sheet

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Cash & equivalents$1.5B-9.6%
Total debt$10.0B+47.1%
Total equity$3.1B-36.7%
Total assets$15.1B+4.1%

Cash flow

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Operating cash flow$655.0M+8.3%
CapEx$117.0M-19.9%
Free cash flow$538.0M+17.2%

Valuation & ratios

Valuation

as of 08/27/26
See full
Market cap$32.03B-53.5%
Enterprise value$40.55B-45.2%
P/E12.3×-14.3×
P/S3.4×-4.0×

Profitability

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Gross margin71.5%+0.2pp
Net margin27.5%-0.1pp
FCF margin24.3%+0.1pp

Returns & leverage

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Return on equity64.4%+12.3pp
Debt / equity3.2×+1.8×
Current ratio3.1×+1.3×

Segments

By product

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Parasiticides$698.0M+5.8%
Vaccines$521.0M+2.2%
Dermatology$398.0M-15.9%
Anti-infectives$244.0M+9.9%
Pain and sedation$217.0M-2.7%

By segment

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U.S.$1.3B-6.6%
International$1.2B+8.1%

FAQ

When did Zoetis report Q2 2026 earnings?
Zoetis (ZTS) reported Q2 2026 earnings on August 6, 2026 before market open.
What were Zoetis's Q2 2026 revenue and EPS?
Zoetis reported revenue of $2.5B and adjusted eps of $1.87 for Q2 2026.
Did Zoetis beat estimates in Q2 2026?
Revenue missed the consensus estimate of $2.5B by $33.5M. EPS beat the consensus estimate of $1.85 by $0.02.
How did Zoetis's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 0.3% from $2.5B a year earlier.
Where can I find Zoetis's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001555280-26-000038) and the 10-Q periodic report (0001555280-26-000040) directly on SEC EDGAR. The filing index links above go to sec.gov.