What is Zoetis's invested capital?

Zoetis (ZTS) reported invested capital of $11.28B in Q1 2026.

How has Zoetis's invested capital changed year-over-year?

Zoetis's invested capital increased by 17.2% year-over-year, from $9.62B to $11.28B.

What is the long-term trend for Zoetis's invested capital?

Over 5 years (2020 to 2025), Zoetis's invested capital has grown at a 8.1% compound annual growth rate (CAGR), from $6.97B to $10.26B.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

Zoetis ZTS Invested capital

Discontinued — last reported Q1 '26

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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%

Free cash flow$291.0M-13.6%

Valuation

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Market cap$33B-32.3%

Enterprise value$41.04B-26.4%

P/E12.5×-7.1×

P/S3.5×-1.8×

Profitability

See full

Gross margin71.8%+0.8pp

Net margin27.8%+0.9pp

FCF margin23.5%0.0pp

Returns & leverage

See full

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.

$10.0Btotal debt+$3.2Btotal stockholders equity−$1.9Bcash and equivalents=$11.28B

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 invested capital?: Zoetis (ZTS) reported invested capital of $11.28B in Q1 2026.
How has Zoetis's invested capital changed year-over-year?: Zoetis's invested capital increased by 17.2% year-over-year, from $9.62B to $11.28B.
What is the long-term trend for Zoetis's invested capital?: Over 5 years (2020 to 2025), Zoetis's invested capital has grown at a 8.1% compound annual growth rate (CAGR), from $6.97B to $10.26B.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).