Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 3/5 core metricsFlagged areas: Earnings quality, Solvency & liquidity.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- 2 filing risk checks flagged
Flagged areas: Earnings quality, Solvency & liquidity.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +2.3% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Free cash flow was positive
Latest reported free cash flow was $2.3B.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Earnings quality
- Solvency & liquidity
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Total Productsand Services$9.35Bshare n/a+1.9% yoy
- Companion Animal$6.59Bshare n/a+4.9% yoy
- Horses$6.28Bshare n/a+4.8% yoy
- Livestock$2.76Bshare n/a-4.6% yoy
- Parasiticides$2.34Bshare n/a+8.7% yoy
- Vaccines$1.96Bshare n/a+7.2% yoy
- Dermatology$1.75Bshare n/a+6.0% yoy
- Cattle$1.49Bshare n/a-2.5% yoy
- +12 more members in the filing
member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.
- Total Geographical Area$9.35Bshare n/a+1.9% yoy
- United States$5.1Bshare n/a+0.5% yoy
- Other Emerging Markets$913Mshare n/a+5.5% yoy
- Other Developed Markets$641Mshare n/a+13.7% yoy
- Brazil$393Mshare n/a-5.1% yoy
- Australia$329Mshare n/a+3.1% yoy
- United Kingdom$325Mshare n/a+3.5% yoy
- Canada$290Mshare n/a+4.7% yoy
- +8 more members in the filing
member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.
- Total Productsand Services$2.24Bshare n/a+3.3% yoy
- Companion Animal$1.52Bshare n/a-1.4% yoy
- Dogs And Cats$1.44Bshare n/a-2.3% yoy
- Livestock$720Mshare n/a+14.8% yoy
- Parasiticides$586Mshare n/a+2.4% yoy
- Vaccines$519Mshare n/a+18.2% yoy
- +13 more members in the filing
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,122 US-listed filers · 797 in Materials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $9.5B | 87thof 3,301 top third | 92ndof 522 top third |
Net margin net income ÷ revenue | 28.2% | 90thof 3,263 top third | 92ndof 518 top third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 24.1% | 88thof 2,679 top third | 92ndof 433 top third |
Return on equity net income ÷ stockholders' equity (positive equity only) | 80.3% | 98thof 3,577 top third | 99thof 701 top third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 0.9% | 71stof 2,895 top third | 80thof 476 top third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 61 days | 35thof 2,398 middle third | 40thof 387 middle third |
Cash conversion operating cash flow ÷ net income (net income > 0) | 1.1× | 28thof 2,183 bottom third | 30thof 190 bottom third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 11 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Deferred revenue (current) ContractWithCustomerLiabilityCurrent | balance at 2020-12-31 | $8M 10-K 2021-02-16 | $4M 10-Q 2021-11-04 | -50.0% | first · latest |
| Capital expenditure PaymentsToAcquirePropertyPlantAndEquipment | quarter 2025-03-31 | $149M 10-Q 2025-05-06 | $178M 10-Q 2026-05-07 | +19.5% | first · latest |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | quarter 2025-03-31 | $587M 10-Q 2025-05-06 | $515M 10-Q 2026-05-07 | -12.3% | first · latest |
| Receivables AccountsReceivableNetCurrent | balance at 2025-12-31 | $1.59B 10-K 2026-02-12 | $1.41B 10-Q 2026-08-06 | -11.4% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2025-03-31 | $631M 10-Q 2025-05-06 | $602M 10-Q 2026-05-07 | -4.6% | first · latest |
| Stockholders' equity StockholdersEquity | balance at 2025-12-31 | $3.33B 10-K 2026-02-12 | $3.42B 10-Q 2026-08-06 | +2.5% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2025-06-30 | $718M 10-Q 2025-08-05 | $726M 10-Q 2026-08-06 | +1.1% | first · latest |
| Revenue Revenues | quarter 2025-03-31 | $2.22B 10-Q 2025-05-06 | $2.2B 10-Q 2026-05-07 | -1.0% | first · latest |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2025-06-30 | $123M 10-Q 2025-08-05 | $124M 10-Q 2026-08-06 | +0.8% | first · latest |
| Revenue Revenues | quarter 2025-06-30 | $2.46B 10-Q 2025-08-05 | $2.47B 10-Q 2026-08-06 | +0.6% | first · latest |
| Total liabilities Liabilities | balance at 2025-12-31 | $12.1B 10-K 2026-02-12 | $12.1B 10-Q 2026-08-06 | -0.5% | first · latest · 3 filings carry it |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for ZTS yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.