Analysis of Liquidity Ratios
Quarterly Data

Liquidity ratios measure the company ability to meet its short-term obligations.

Liquidity Ratios (Summary)
Current Ratio
Quick Ratio
Cash Ratio

Liquidity Ratios (Summary)

Zoetis Inc., liquidity ratios (quarterly data)

	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Current ratio	3.33	3.36	3.87	3.50	3.27	2.37	2.27	2.18	2.25	3.86	4.54	3.37	3.29	3.05	2.82	3.47	2.77	2.63	4.39	4.17	4.05
Quick ratio	1.71	1.77	1.87	1.72	1.72	1.51	1.28	1.29	1.44	2.57	3.01	2.31	2.29	2.13	1.94	2.39	1.69	1.67	2.72	2.58	2.55
Cash ratio	1.03	1.08	1.09	0.97	1.10	1.13	0.87	0.87	1.03	1.94	2.23	1.75	1.74	1.66	1.52	1.85	1.13	1.07	1.74	1.66	1.66

Download chart

Liquidity ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Zoetis Inc. current ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	Zoetis Inc. quick ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	Zoetis Inc. cash ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Current Ratio

Zoetis Inc., current ratio calculation (quarterly data)

	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Selected Financial Data (US$ in millions)
Current assets	6,359)	6,343)	6,222)	6,183)	6,269)	7,506)	6,551)	6,651)	6,837)	6,930)	6,682)	7,048)	6,794)	6,611)	6,757)	6,285)	4,772)	4,748)	4,618)	4,484)	4,379)
Current liabilities	1,909)	1,889)	1,608)	1,769)	1,915)	3,167)	2,880)	3,051)	3,034)	1,797)	1,471)	2,091)	2,066)	2,170)	2,400)	1,811)	1,721)	1,806)	1,052)	1,075)	1,082)
Liquidity Ratio
Current ratio¹	3.33	3.36	3.87	3.50	3.27	2.37	2.27	2.18	2.25	3.86	4.54	3.37	3.29	3.05	2.82	3.47	2.77	2.63	4.39	4.17	4.05
Benchmarks
Current Ratio, Competitors²
AbbVie Inc.	0.94	0.87	0.96	0.89	0.96	0.96	0.93	0.84	0.82	0.79	1.01	0.91	0.83	0.84	0.95	0.86	3.14	3.18	1.15	0.89	1.04
Amgen Inc.	1.42	1.65	2.86	2.77	3.14	1.41	1.68	1.53	1.44	1.59	1.64	1.31	1.66	1.81	2.28	2.18	1.59	1.44	2.89	2.89	2.77
Bristol-Myers Squibb Co.	1.11	1.43	1.18	1.39	1.42	1.25	1.42	1.44	1.32	1.52	1.47	1.54	1.56	1.58	1.67	1.47	1.66	1.60	3.83	3.88	1.93
Danaher Corp.	1.85	1.68	2.26	2.08	1.89	1.89	1.78	1.75	1.68	1.43	1.48	2.26	2.05	1.86	2.08	2.20	1.32	5.19	3.43	2.32	2.18
Eli Lilly & Co.	1.35	0.94	1.05	1.13	1.30	1.05	1.13	1.10	1.27	1.23	1.30	1.15	1.42	1.40	1.36	1.22	1.11	1.16	1.17	1.13	1.12
Gilead Sciences Inc.	1.08	1.43	1.34	1.02	1.28	1.29	1.30	1.43	1.48	1.27	1.37	1.36	1.37	1.40	3.25	2.33	3.04	3.10	2.96	3.76	3.62
Johnson & Johnson	1.17	1.16	1.21	1.12	1.07	0.99	1.43	1.42	1.39	1.35	1.34	1.39	1.28	1.21	1.48	1.25	1.31	1.26	1.26	1.33	1.44
Merck & Co. Inc.	1.25	1.25	1.38	1.28	1.44	1.47	1.46	1.39	1.40	1.27	1.31	1.31	1.02	1.02	1.30	1.32	1.11	1.24	1.26	1.21	1.37
Pfizer Inc.	1.05	0.91	2.38	2.12	1.37	1.22	1.59	1.42	1.39	1.40	1.39	1.37	1.48	1.35	1.40	1.42	1.03	0.88	0.90	1.47	1.54
Regeneron Pharmaceuticals Inc.	5.27	5.69	5.18	5.45	5.45	5.06	5.36	5.12	4.76	3.56	3.71	3.57	3.12	3.63	3.89	2.12	4.21	3.67	4.03	3.88	4.58
Thermo Fisher Scientific Inc.	1.70	1.75	1.63	1.42	1.27	1.48	1.74	1.65	1.56	1.50	3.19	2.78	2.53	2.13	2.93	2.62	2.32	1.92	1.80	1.49	1.69

¹ Q1 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 6,359 ÷ 1,909 = 3.33

² Click competitor name to see calculations.

Download chart

Liquidity ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Zoetis Inc. current ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Quick Ratio

Zoetis Inc., quick ratio calculation (quarterly data)

	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Selected Financial Data (US$ in millions)
Cash and cash equivalents	1,975)	2,041)	1,754)	1,717)	2,109)	3,581)	2,507)	2,652)	3,135)	3,485)	3,274)	3,658)	3,602)	3,604)	3,654)	3,353)	1,951)	1,934)	1,815)	1,755)	1,728)
Short-term investments	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	12)	25)	65)
Accounts receivable, less allowance for doubtful accounts	1,293)	1,304)	1,257)	1,322)	1,186)	1,215)	1,189)	1,291)	1,222)	1,133)	1,152)	1,170)	1,125)	1,013)	1,012)	984)	965)	1,086)	1,030)	994)	970)
Total quick assets	3,268)	3,345)	3,011)	3,039)	3,295)	4,796)	3,696)	3,943)	4,357)	4,618)	4,426)	4,828)	4,727)	4,617)	4,666)	4,337)	2,916)	3,020)	2,857)	2,774)	2,763)

Current liabilities	1,909)	1,889)	1,608)	1,769)	1,915)	3,167)	2,880)	3,051)	3,034)	1,797)	1,471)	2,091)	2,066)	2,170)	2,400)	1,811)	1,721)	1,806)	1,052)	1,075)	1,082)
Liquidity Ratio
Quick ratio¹	1.71	1.77	1.87	1.72	1.72	1.51	1.28	1.29	1.44	2.57	3.01	2.31	2.29	2.13	1.94	2.39	1.69	1.67	2.72	2.58	2.55
Benchmarks
Quick Ratio, Competitors²
AbbVie Inc.	0.72	0.63	0.71	0.63	0.66	0.69	0.69	0.61	0.56	0.56	0.75	0.65	0.61	0.60	0.68	0.58	2.88	2.91	0.92	0.64	0.78
Amgen Inc.	0.84	0.99	2.41	2.34	2.62	0.95	1.17	0.99	0.90	1.06	1.19	0.86	1.16	1.30	1.65	1.60	1.10	1.01	2.28	2.41	2.37
Bristol-Myers Squibb Co.	0.78	1.04	0.77	0.94	1.01	0.87	0.98	1.07	1.03	1.20	1.16	1.16	1.25	1.28	1.43	1.26	1.38	1.26	3.63	3.61	1.64
Danaher Corp.	1.34	1.18	1.76	1.52	1.34	1.30	1.19	1.13	1.08	0.89	0.93	1.67	1.51	1.36	1.52	1.59	0.92	4.68	2.99	1.78	1.58
Eli Lilly & Co.	0.68	0.52	0.58	0.63	0.79	0.63	0.71	0.67	0.77	0.80	0.79	0.67	0.83	0.85	0.79	0.68	0.64	0.68	0.66	0.67	0.65
Gilead Sciences Inc.	0.72	1.06	0.98	0.78	0.95	0.99	0.96	1.06	1.06	0.95	1.01	1.05	0.99	1.08	2.93	2.09	2.78	2.86	2.74	3.41	3.32
Johnson & Johnson	0.84	0.82	0.86	0.84	0.81	0.71	1.10	1.09	1.06	1.04	1.03	1.04	0.97	0.91	1.17	0.92	0.98	0.94	0.93	0.95	1.01
Merck & Co. Inc.	0.68	0.68	0.83	0.74	0.90	0.93	0.90	0.85	0.84	0.73	0.78	0.75	0.58	0.58	0.77	0.84	0.66	0.78	0.80	0.75	0.88
Pfizer Inc.	0.57	0.50	1.78	1.59	0.88	0.80	1.18	1.02	0.95	1.00	0.99	0.91	0.88	0.78	0.93	0.98	0.60	0.50	0.50	0.71	0.72
Regeneron Pharmaceuticals Inc.	4.40	4.82	4.31	4.53	4.54	4.16	4.37	4.20	3.95	2.98	3.03	2.92	2.39	2.86	3.02	1.61	3.38	2.81	3.14	2.99	3.66
Thermo Fisher Scientific Inc.	1.19	1.27	1.13	0.89	0.80	1.06	1.06	0.98	0.97	1.00	2.37	1.92	1.70	1.63	2.16	1.83	1.48	1.19	0.97	0.85	0.89

¹ Q1 2024 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 3,268 ÷ 1,909 = 1.71

² Click competitor name to see calculations.

Download chart

Liquidity ratio	Description	The company
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	Zoetis Inc. quick ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Cash Ratio

Zoetis Inc., cash ratio calculation (quarterly data)

	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Selected Financial Data (US$ in millions)
Cash and cash equivalents	1,975)	2,041)	1,754)	1,717)	2,109)	3,581)	2,507)	2,652)	3,135)	3,485)	3,274)	3,658)	3,602)	3,604)	3,654)	3,353)	1,951)	1,934)	1,815)	1,755)	1,728)
Short-term investments	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	12)	25)	65)
Total cash assets	1,975)	2,041)	1,754)	1,717)	2,109)	3,581)	2,507)	2,652)	3,135)	3,485)	3,274)	3,658)	3,602)	3,604)	3,654)	3,353)	1,951)	1,934)	1,827)	1,780)	1,793)

Current liabilities	1,909)	1,889)	1,608)	1,769)	1,915)	3,167)	2,880)	3,051)	3,034)	1,797)	1,471)	2,091)	2,066)	2,170)	2,400)	1,811)	1,721)	1,806)	1,052)	1,075)	1,082)
Liquidity Ratio
Cash ratio¹	1.03	1.08	1.09	0.97	1.10	1.13	0.87	0.87	1.03	1.94	2.23	1.75	1.74	1.66	1.52	1.85	1.13	1.07	1.74	1.66	1.66
Benchmarks
Cash Ratio, Competitors²
AbbVie Inc.	0.44	0.34	0.38	0.27	0.24	0.31	0.36	0.29	0.23	0.28	0.43	0.30	0.31	0.30	0.33	0.25	2.50	2.56	0.61	0.32	0.38
Amgen Inc.	0.49	0.60	2.05	2.00	2.22	0.59	0.80	0.57	0.51	0.66	0.87	0.55	0.82	0.91	1.24	1.09	0.68	0.69	1.94	2.05	2.07
Bristol-Myers Squibb Co.	0.37	0.55	0.33	0.43	0.49	0.42	0.48	0.63	0.66	0.78	0.73	0.68	0.75	0.83	1.03	0.92	0.95	0.84	3.10	3.02	0.99
Danaher Corp.	0.90	0.71	1.31	1.02	0.85	0.71	0.64	0.53	0.49	0.32	0.35	1.07	0.93	0.82	0.94	0.99	0.52	4.04	2.40	1.08	0.84
Eli Lilly & Co.	0.14	0.11	0.11	0.15	0.23	0.13	0.18	0.18	0.19	0.26	0.28	0.22	0.26	0.29	0.30	0.20	0.14	0.21	0.15	0.20	0.19
Gilead Sciences Inc.	0.36	0.64	0.57	0.48	0.56	0.57	0.54	0.61	0.62	0.56	0.56	0.64	0.58	0.65	2.52	1.79	2.34	2.50	2.39	3.03	2.97
Johnson & Johnson	0.54	0.50	0.53	0.53	0.54	0.42	0.75	0.73	0.70	0.70	0.70	0.65	0.60	0.59	0.79	0.52	0.54	0.54	0.51	0.49	0.53
Merck & Co. Inc.	0.22	0.28	0.38	0.27	0.45	0.54	0.49	0.44	0.40	0.34	0.42	0.39	0.26	0.30	0.36	0.50	0.32	0.47	0.39	0.35	0.47
Pfizer Inc.	0.29	0.27	1.42	1.29	0.55	0.54	0.82	0.70	0.61	0.73	0.71	0.61	0.51	0.47	0.64	0.70	0.31	0.26	0.25	0.40	0.39
Regeneron Pharmaceuticals Inc.	2.94	3.17	2.75	2.88	2.89	2.46	2.44	2.49	2.34	1.45	1.56	1.05	1.09	1.33	1.29	0.85	1.95	1.53	1.63	1.56	2.14
Thermo Fisher Scientific Inc.	0.52	0.58	0.43	0.22	0.22	0.50	0.26	0.17	0.23	0.33	1.55	1.01	0.80	1.00	1.21	0.97	0.54	0.39	0.22	0.30	0.19

¹ Q1 2024 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 1,975 ÷ 1,909 = 1.03

² Click competitor name to see calculations.

Download chart

Liquidity ratio	Description	The company
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	Zoetis Inc. cash ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Zoetis Inc. (NYSE:ZTS)

Analysis of Liquidity RatiosQuarterly Data

Liquidity Ratios (Summary)

Current Ratio

Quick Ratio

Cash Ratio

Analysis of Liquidity Ratios
Quarterly Data