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Zoetis ZTS Free cash flow

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Other financials

Income statement

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Revenue$2.3B+2.9%
Gross profit$1.6B+2.6%
Net income$601.0M-0.2%
EPS (diluted)$1.42+6.0%

Balance sheet

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Cash & equivalents$1.9B+8.9%
Total debt$10.0B+48.0%
Total equity$3.2B-30.5%
Total assets$15.2B+7.5%

Cash flow

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Operating cash flow$401.0M-22.1%
CapEx$110.0M-38.2%

Valuation

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Market cap$31.9B-54.6%
Enterprise value$39.95B-47.2%
P/E12.1×-15.1×
P/S3.4×-4.1×

Profitability

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Gross margin71.8%+0.8pp
Net margin27.8%+0.9pp
FCF margin23.5%0.0pp

Returns & leverage

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Return on equity67%+15.8pp
Debt / equity3.1×+1.6×
Current ratio3.2×+1.4×

Where this comes from

Calculated from Zoetis’s reported figures.

The official record: Zoetis’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Zoetis's free cash flow?
Zoetis (ZTS) reported free cash flow of $291M in Q1 2026.
How has Zoetis's free cash flow changed year-over-year?
Zoetis's free cash flow decreased by 13.6% year-over-year, from $337M to $291M.
What is the long-term trend for Zoetis's free cash flow?
Over 4 years (2021 to 2025), Zoetis's free cash flow has grown at a 7.1% compound annual growth rate (CAGR), from $1.74B to $2.28B.
What does free cash flow mean?
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.