Filing Flows › Zoetis (ZTS) › Q2 2026 › vs Q1 2026
Zoetis (ZTS) Q2 2026 vs Q1 2026 (quarter over quarter)
Zoetis's revenue rose $206M (+9%) from $2.3B in Q1 2026 to $2.5B in Q2 2026. Operating margin 35.1% against 33.5% (+1.6 pts).
Zoetis, Q2 2026: revenue $2.5B (-0.2% year over year), operating margin 35.1%, net earnings $691M, operating cash flow $655M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 35.1% | 33.5% | +1.6 pts |
| Net margin | 28.0% | 26.6% | +1.4 pts |
| Free cash flow margin | 21.8% | 12.9% | +8.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $2.5B | $2.3B | $206M | +9% |
| Operating profit | $866M | $758M | $108M | +14% |
| Costs & expenses | $1.6B | $1.5B | $98.0M | +7% |
| Pre-tax earnings | $866M | $758M | $108M | +14% |
| Cost of revenue | $673M | $641M | $32.0M | +5% |
| Research & development | $173M | $180M | −$7.0M | -4% |
| SG&A | $592M | $588M | $4.0M | +0.7% |
| Other operating costs | $164M | $95.0M | $69.0M | +73% |
| Net earnings | $691M | $601M | $90.0M | +15% |
| Income tax | $175M | $157M | $18.0M | +11% |
| Depreciation & amortization | $119M | $119M | $0 | 0% |
| Share-based compensation | $26.0M | $25.0M | $1.0M | +4% |
| Working capital & other | $181M | $344M | −$163M | -47% |
| Operating cash flow | $655M | $401M | $254M | +63% |
| Free cash flow (OCF − capex) | $538M | $291M | $247M | +85% |
| Capital expenditures | $117M | $110M | $7.0M | +6% |
Questions
How much did Zoetis's revenue grow quarter over quarter in Q2 2026?
Zoetis's revenue rose $206M (+9%) from $2.3B in Q1 2026 to $2.5B in Q2 2026. Operating margin 35.1% against 33.5% (+1.6 pts).