Zoetis Inc.

ZTSNYSEHealthcare● Active

$78.81

$-0.63(-0.79%)

Market Cap$33.0B

P/E Ratio—

52W High$171.52

52W Low$72.38

Avg Volume5.8M

Open$80.18

Beta0.74

Overview

Zoetis Inc. (ZTS) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

ZTS · free cash flow · updated Jun 8, 2026

Core FCF metrics

ZTS · FCF · TTM · margin & CAGR

Free cash flow was $2.28B for FY2025 (fiscal year ending 2025-12-31), down 0.7% year-over-year The FCF margin was 24.1%. Five-year CAGR stands at +6.4%.

FY2025 Free Cash Flow$2.28B▼ -0.7% YoY

Trailing 12M (TTM)$2.14Btrailing 4 quarters sum

FCF Margin24.1%$2.28B ÷ revenue

3-Year CAGR+19.9%FY2022 → FY2025

5-Year CAGR+6.4%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

ZTS · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$2.90B(621M)$2.28B▼ 0.7%24.1%

FY2024$2.95B(655M)$2.30B▲ +41.8%24.8%

FY2023$2.35B(732M)$1.62B▲ +22.2%19.0%

FY2022$1.91B(586M)$1.33B▼ 23.6%16.4%

FY2021$2.21B(477M)$1.74B▲ +3.8%22.3%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

ZTS · P/FCF · FCF yield · FCF per share

Zoetis Inc. (ZTS) trades at a FCF yield of 6.51% and a price-to-free-cash-flow ratio of 16.4x. FCF per share stands at $4.82, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

6.51%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$4.82

TTM FCF ÷ Shares Outstanding

Price / FCF

x16.4

Share Price ÷ FCF per Share

EV / FCF (TTM)

x18.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

ZTS · cash flow statement · operating / investing / financing

For FY2025, Zoetis Inc. generated $2.90B in operating cash flow and spent 621M in capital expenditures, yielding $2.28B in free cash flow.

Operating Activities

+$2.90B

Cash from core business operations

2025-12-31

Investing Activities

−$748.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$1.87B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($2.90B) − |CapEx| (621M) = FCF ($2.28B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

ZTS vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Zoetis Inc.YOU

ZTS

$2.28B-0.7%24.1%

12%

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Zoetis Inc. (ZTS) reported free cash flow of $2.28B for FY2025 (fiscal year ending 2025-12-31), down 0.7% year-over-year. The FCF margin was 24.1%.

Based on available data, Zoetis Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $2.30B in FY2024. The 5-year CAGR stands at +6.4%.

Zoetis Inc.'s FCF yield is 6.51% and price-to-FCF ratio is 16.4x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

ZTS free cash flow · 8 questions

Zoetis Inc. free cash flow was $2.28B for FY2025, down 0.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $2.14B.

ZTS free cash flowZTS FCFZTS FCF 2025ZTS free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Zoetis Inc. · Zoetis Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026