What is Zoetis's R&D?

Zoetis (ZTS) reported R&D of $180M in Q1 2026.

How has Zoetis's R&D changed year-over-year?

Zoetis's R&D increased by 11.1% year-over-year, from $162M to $180M.

What is the long-term trend for Zoetis's R&D?

Over 4 years (2021 to 2025), Zoetis's R&D has grown at a 8.5% compound annual growth rate (CAGR), from $508M to $703M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Zoetis ZTS R&D

R&D at other companies

Merck & Co.MRK

$12.59B+248%

NeogenNEOG

$3.8M-15.6%

Idexx LaboratoriesIDXX

$65.79M+11.4%

RevvityRVTY

$57.89M+8.0%

Scilex Holding CompanySCLX

$3.21M+30.7%

Agilent TechnologiesA

$126M+12.5%

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$30.13B-56.6%

Enterprise value$38.17B-48.9%

P/E11.4×-15.5×

P/S3.2×-4.2×

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

Reported directly by Zoetis in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost.

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 R&D?: Zoetis (ZTS) reported R&D of $180M in Q1 2026.
How has Zoetis's R&D changed year-over-year?: Zoetis's R&D increased by 11.1% year-over-year, from $162M to $180M.
What is the long-term trend for Zoetis's R&D?: Over 4 years (2021 to 2025), Zoetis's R&D has grown at a 8.5% compound annual growth rate (CAGR), from $508M to $703M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.