Stock Analysis on Net
Stock Analysis on Net

Zoetis Inc. (NYSE:ZTS)

Common-Size Income Statement

Zoetis Inc., common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Revenue 100.00 100.00 100.00 100.00 100.00
Cost of sales -29.97 -30.37 -29.62 -30.82 -31.82
Gross profit 70.03% 69.63% 70.38% 69.18% 68.18%
Selling, general and administrative expenses -25.18 -24.86 -25.73 -25.86 -26.17
Research and development expenses -7.19 -6.67 -6.53 -6.94 -7.30
Amortization of intangible assets -1.74 -1.86 -2.07 -2.40 -2.48
Restructuring charges and certain acquisition-related costs -0.62 -0.14 -0.55 -0.37 -0.81
Operating income 35.30% 36.10% 35.49% 33.62% 31.42%
Interest expense, net of capitalized interest -2.80 -2.74 -2.88 -3.46 -3.56
Royalty-related income 0.43 0.05 0.13 0.18 0.26
Interest income 1.23 0.62 0.08 0.18 0.59
Identifiable intangible asset impairment charges -0.41 -0.48 -0.35 -0.39 0.00
Other asset impairment charges -0.01 -0.09 -0.04 -0.06 0.00
Net gain on sale of businesses 1.18 0.00 0.00 0.00 0.00
Net gain (loss) on sale of assets 0.00 0.00 -0.04 0.28 0.32
Impairment of an equity investment 0.00 0.00 0.00 -0.06 0.00
Foreign currency loss -0.55 -0.77 -0.35 -0.31 -0.26
Other, net -0.01 0.17 -0.05 -0.07 0.00
Other income (deductions), net 1.86% -0.50% -0.62% -0.25% 0.91%
Income before provision for taxes on income 34.36% 32.87% 32.00% 29.90% 28.77%
Provision for taxes on income -6.98 -6.75 -5.84 -5.39 -4.81
Net income before allocation to noncontrolling interests 27.39% 26.13% 26.16% 24.51% 23.96%
Net loss attributable to noncontrolling interests 0.05 0.04 0.04 0.03 0.00
Net income attributable to Zoetis Inc. 27.43% 26.16% 26.20% 24.54% 23.96%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Zoetis Inc. operating income as a percentage of revenue increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Income before provision for taxes on income Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Zoetis Inc. income before provision for taxes on income as a percentage of revenue increased from 2021 to 2022 and from 2022 to 2023.
Net income attributable to Zoetis Inc. The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Zoetis Inc. net income attributable to Zoetis Inc. as a percentage of revenue decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.