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Zoetis Business Segments

Business, geographic, and product segment breakdowns

Zoetis generates $9.5B in annual revenue across 2 key segments: International ($4.4B), and U.S. ($5.0B). Based on the Q1 2026 filing.

International (TTM)$4.4BU.S. (TTM)$5.0B
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$34.1B
P/E Ratio12.91
ROE67.01%

Products & Services

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Dogs and Cats—$1.5B$1.7B$1.6B—$1.4B
Parasiticides$519M$572M$673M$564M$542M$586M
Vaccines$462M$439M$504M$496M$512M$519M
Cattle$399M$341M$320M$399M$415M$392M
Dermatology$421M$379M$463M$472M$429M$349M
Anti-infectives$281M$238M$219M$284M$284M$241M
Pain and sedation$217M$207M$217M$204M$209M$203M
Other pharmaceutical$180M$158M$172M$178M$188M$158M
Swine$128M$105M$119M$111M$125M$123M
Poultry$117M$106M$103M$106M$117M$118M
Animal health diagnostics$100M$104M$110M$110M$111M$117M
Horses$5.8B$64M$72M$66M$6.1B$76M
Fish$65M$55M$74M$78M$81M$66M
Other Non Pharmaceuticals$65M$71M$63M$64M$70M$66M
Contract manufacturing & human health$21M$30M$34M$23M$30M$23M
Sheep and other$17M$20M$22M$31M$18M$21M

Number of countries in which entity markets products

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product10000.0%10000.0%10000.0%10000.0%10000.0%10000.0%

Cost of Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Shipping and Handling$26.8M$25.5M$25.5M$25.5M$25.5M—

Geographic

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total geographical area$2.3B$2.2B$2.4B$2.4B$2.4B$2.2B
United States$1.3B$1.2B$1.4B$1.3B$1.2B$1.1B
Other emerging markets$195M$238M$225M$228M$212M$291M
Other developed markets$151M$133M$162M$164M$182M$169M
Brazil$113M$81M$93M$100M$112M$90M
Australia$80M$79M$83M$87M$84M$89M
United Kingdom$84M$74M$77M$82M$89M$78M
Canada$75M$70M$73M$70M$80M$73M
China$65M$55M$72M$45M$50M$63M
Germany$59M$55M$58M$62M$65M$59M
Mexico$40M$35M$38M$41M$44M$48M
Spain$30M$29M$37M$38M$37M$40M
Italy$34M$30M$38M$35M$35M$39M
Chile$30M$35M$36M$29M$40M$38M
France$45M$39M$33M$40M$52M$37M
Japan$38M$32M$45M$34M$39M$35M

Additions / Adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International—$1.8M$1.8M$1.8M$1.8M—

Property, plant and equipment, less accumulated depreciation of $2,925 in 2025 and $2,635 in 2024

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$2.2B———$2.5B—

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$1.5B$1.5B$1.5B$1.5B$1.5B$1.5B

Other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States—$0$0$0$0$0

Business Segments

Cost of Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International$336M$295M$314M$331M$365M$334M
U.S.$229M$199M$208M$222M$213M$194M

Depreciation and amortization expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International$23M$23M$25M$26M$26M$26M
U.S.$20M$23M$22M$25M$23M$23M
Other business activities$14M$11M$13M$14M$13M$13M

Gross margin, percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.0.1%83.2%84.7%83.2%—82.2%
International—70.1%70.7%68.6%—70.9%

Gross Profit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.$1B$984M$1.1B$1.1B$1B$896M
International$703M$690M$756M$724M$756M$815M

Income before provision for taxes on income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.$819M$779M$930M$899M$830M$697M
International$523M$527M$583M$556M$574M$639M
Other business activities-$151M-$133M-$134M-$140M-$159M-$141M

Nonoperating Income (Expense)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International$2M$0$0-$1M$3M-$1M
U.S.-$3M$0$0$0$0$0

Operating expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.$212M$205M$218M$201M$193M$199M
International$180M$163M$173M$167M$183M$175M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International$1B$985M$1.1B$1.1B$1.1B$1.1B
U.S.$1.3B$1.2B$1.4B$1.3B$1.2B$1.1B