Filing Flows › Zoetis (ZTS) › Q2 2025
Zoetis (ZTS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Zoetis (ZTS) reported revenue of $2.5B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +13% from the quarter before. Operating margin was 36.9%, net earnings $726M (29.3% of revenue).
Zoetis, Q2 2025: revenue $2.5B (+5% year over year), operating margin 36.9%, net earnings $726M, operating cash flow $533M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5B | +13% | +5% |
| Operating profit | $912M | +18% | +17% |
| Net earnings | $726M | +21% | +16% |
| Operating cash flow | $533M | -9% | +6% |
| Free cash flow | $358M | -18% | -3% |
What changed
Revenue was $2.5B in Q2 2025, up 5% year over year and up 13% from the previous quarter. Parasiticides was the largest line at 27% of revenue. Parasiticides added $0.07B year over year (up 12%), 65% of the total change. Anti-infectives declined 17%.
Operating profit was $0.91B, a 36.9% margin (up 3.8 points year over year). Of the extra revenue versus a year earlier, 117% reached operating profit, above the 33% margin then. Total costs fell 1% while revenue rose 5%. Net earnings were $0.73B, up 16% year over year. The effective tax rate was 20.4%.
Operating cash flow was $0.53B (up 6% year over year), 73% of net earnings. Non-cash charges added back $0.12B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.34B. Capital expenditures of $0.17B left free cash flow of $0.36B.
Questions
What was Zoetis' revenue in the second quarter 2025?
Zoetis (ZTS) reported revenue of $2.5B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +13% from the quarter before.
Was Zoetis profitable in the second quarter 2025?
Operating profit was $912M (36.9% of revenue) and net earnings $726M.
Source: Zoetis 10-Q on SEC EDGAR.