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Zoetis ZTS Net debt / EBITDA

Net debt / EBITDA at other companies

Merck & Co. logo
Merck & Co.MRK
+1.7×
Idexx Laboratories logo
Idexx LaboratoriesIDXX
0.2×-0.2×
Elanco Animal Health Inc. logo
Elanco Animal Health Inc.ELAN
5.3×
Revvity logo
RevvityRVTY
+1.2×
Tractor Supply Company logo
Tractor Supply CompanyTSCO
3.2×+0.3×
Chewy logo
ChewyCHWY
0.1×0.0×

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

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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.

Based on the most recent quarter.

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 net debt / EBITDA?
Zoetis (ZTS) reported net debt / EBITDA of 2× in Q1 2026.
How has Zoetis's net debt / EBITDA changed year-over-year?
Zoetis's net debt / EBITDA increased by 55.7% year-over-year, from 1.3× to 2×.
What is the long-term trend for Zoetis's net debt / EBITDA?
Over 5 years (2020 to 2025), Zoetis's net debt / EBITDA has grown at a 7.2% compound annual growth rate (CAGR), from 1.2× to 1.7×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.