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Zoetis vs BeOne Medicines: ZTS and ONC compared
Zoetis is the larger company: $2.4B of revenue in its latest quarter (Q3 2026) against $1.9B for BeOne Medicines (Q3 2026). BeOne Medicines is growing faster (+34% against -1% a year earlier). Zoetis is more profitable, with an operating margin of 30.5% against 22.2%.
Where the money goes: ZTS and ONC
Zoetis (ZTS) · Q3 2026
Zoetis, Q3 2026: revenue $2.4B (-1% year over year), operating margin 30.5%, net earnings $591M, operating cash flow $824M. The chart follows the revenue to costs, profit and cash.
BeOne Medicines (ONC) · Q3 2026
BeOne Medicines, Q3 2026: revenue $1.9B (+34% year over year), operating margin 22.2%, net earnings $385M, operating cash flow $509M. The chart follows the revenue to costs, profit and cash.
| Zoetis (ZTS) | BeOne Medicines (ONC) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $2.4B | $1.9B |
| Revenue growth, Y/Y | -1% | +34% |
| Gross margin | — | 88.5% |
| Operating margin | 30.5% | 22.2% |
| Net earnings | $591M | $385M |
| Net margin | 24.7% | 20.4% |
| Operating cash flow | $824M | $509M |
| Free cash flow | $717M | $474M |
| Market value | $32.7B | $624.2B |
| P/E | 13.0× | — |
| Analysts’ mean target | $89.69 | $437.57 |
Where the revenue comes from
Zoetis
- Companion Animal: $1.6B (65%)
- Dermatology: $398M (17%)
- Pain and sedation: $200M (8%)
- Swine: $120M (5%)
BeOne Medicines
- Product revenue, net: $1.9B (98%)
- BAITUOWEI: $22.1M (1%)
- POBEVCY: $10.7M (1%)
Questions
Which is bigger, Zoetis or BeOne Medicines?
Zoetis is the larger company: $2.4B of revenue in its latest quarter (Q3 2026) against $1.9B for BeOne Medicines (Q3 2026).
Is Zoetis or BeOne Medicines growing faster?
BeOne Medicines is growing faster (+34% against -1% a year earlier).
Which is more profitable, Zoetis or BeOne Medicines?
Zoetis is more profitable, with an operating margin of 30.5% against 22.2%.
More: Zoetis earnings · how Zoetis makes money · BeOne Medicines earnings · how BeOne Medicines makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.