Skip to content
OpenCapital
Get started
Income StatementBalance SheetCash FlowSegments
Zoetis logo

Zoetis Cash Flow Statement

Operating, investing, and financing cash movements

Zoetis generated $2.8B in operating cash flow over the trailing twelve months. After $553.0M in capital expenditures, free cash flow was $2.2B. Free cash flow increased 0.0% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$2.8BNet Cash From Investing (TTM)-$632.0MNet Cash From Financing (TTM)-$2.0BCapital Expenditures (TTM)$553.0MDepreciation And Amortization Cf (TTM)$487.0MNet Change In Cash (TTM)$148.0M
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$34.1B
P/E Ratio12.91
ROE67.01%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$216M$178M$149M$133M$161M$110M
Payments For Proceeds From Hedge Investing Activities-$51M$24M$52M$29M—-$16M
Payment for (Proceeds from) Other Investing Activity—-$1M$3M-$4M—$1M
Proceeds from disposals of property, plant and equipment—$0$0$1M—$10M
Net cash from investing activities—-$203M-$219M-$160M-$166M-$87M
Other investing activities—-$1M$3M-$4M—$1M
Proceeds from sale of property, plant and equipment—$0$0$1M—$10M
Purchases of investments$1M$2M$1M$3M$1M$2M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable$26M$22M$2M-$54M$76M$62M
Change in accounts receivable—$46M$148M$0$52M$106M
Change in income taxes payable/receivable-$7M$104M-$132M$54M$35M$73M
Change in inventories—$85M$83M$44M$0$114M
Change in other assets-$66M$46M$116M$13M$0$66M
Change in other liabilities$78M-$206M——$88M-$234M
Other working capital changes$17M$1M$4M$4M—-$3M
Deferred income taxes-$152M$14M-$2M-$16M-$48M$34M
Depreciation and amortization$123M$119M$123M$124M$121M$119M
Impairment charges$15M$2M$31M$6M$8M$0
Net cash from operating activities$905M$515M$558M$938M$893M$401M
Net income$581M$602M$718M$721M$603M$601M
Asset write-downs$15M$2M$31M$6M$8M$0
Cash received from / (payments to) settle derivative instruments$0$0———$3M
Gain (Loss) on Sale of Assets and Asset Impairment Charges-$5.8M$0———$6M
Income and other taxes-$7M$104M-$132M$54M$35M$73M
Increase Decrease In Derivative Assets And Liabilities$0-$2.8M-$2.8M-$2.8M-$2.8M—
Increase (Decrease) in Other Operating Assets-$66M$46M$116M$13M$0$66M
Inventory write-downs$26M$19M$13M$20M$16M$13M
Other Noncash Income (Expense)$17M$1M$4M$4M—-$3M
Stock-based compensation$19M$17M$22M$22M$22M$25M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Dividends paid$194M$224M$223M$222M$220M$224M
Finance Lease, Principal Payments—$2M———$0
Payments for Hedge, Financing Activities$0———$187M—
Payments of Ordinary Dividends$194M$224M$223M$222M$220M$224M
Proceeds From Issuance Of Senior Long Term Debt$0$462M$462M$462M$462M—
Other, net$0-$1M—-$2M—-$3M
Share-based compensation-related proceeds, net of taxes paid on withholding shares—-$9M-$3M——-$7M
Net cash from financing activities-$745M-$677M-$564M-$134M-$495M-$840M
Other financing activities—-$1M$1M$0$0-$3M
Payments for finance leases—$2M———$0
Repurchases of common stock$553M$443M$338M$394M$248M$606M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$689M$337M$409M$805M$732M$291M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$13M$33M$5M$5M—$17M
Net increase (decrease) in cash—-$332M-$220M$649M$228M-$509M
Leased assets obtained in exchange for operating lease liabilities—$7M$51M$3M—$10M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$235M$60M$415M$107M$133M$50M
Interest paid$69M$68M$69M$88M$36M$109M
Excise tax accrued on net share repurchases, not paid$4.3M$7.8M$7.8M$7.8M$7.8M—
Income Taxes Paid, Net$235M$60M$415M$107M$133M$50M