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Zoetis ZTS International — Operating Expenses

Other segment segments

U.S.
$199M-2.9%

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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$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

Reported directly by Zoetis in its filing.

Tagged under the XBRL concept us-gaap:OperatingExpenses.

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 international — operating expenses?
Zoetis (ZTS) reported international — operating expenses of $175M in Q1 2026.
How has Zoetis's international — operating expenses changed year-over-year?
Zoetis's international — operating expenses increased by 7.4% year-over-year, from $163M to $175M.
What is the long-term trend for Zoetis's international — operating expenses?
Over 4 years (2021 to 2025), Zoetis's international — operating expenses has grown at a 3.3% compound annual growth rate (CAGR), from $602M to $686M.
What does international — operating expenses mean?
Includes all costs associated with running the international segment, such as selling, general, and administrative expenses, as well as regional research and development. It excludes direct production costs but captures the overhead required to maintain international market presence.