Stock Analysis on Net
Stock Analysis on Net

Zoetis Inc. (NYSE:ZTS)

$22.49

This company has been moved to the archive! The financial data has not been updated since May 2, 2024.

Common-Size Balance Sheet: Assets

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Zoetis Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cash and cash equivalents
Accounts receivable, less allowance for doubtful accounts
Inventories
Other current assets
Current assets
Property, plant and equipment, less accumulated depreciation
Finance lease right of use assets
Property, plant and equipment including finance lease right of use assets, less accumulated depreciation
Operating lease right of use assets
Goodwill
Identifiable intangible assets, less accumulated amortization
Noncurrent deferred tax assets
Other noncurrent assets
Noncurrent assets
Total assets

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).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets showed an increasing trend from 16.75% in 2019 to a peak of 26.48% in 2020. Afterward, it gradually decreased over the subsequent years, reaching 14.29% in 2023. This indicates a sizeable buildup of liquid assets in 2020 followed by a systematic reduction through 2023.
Accounts receivable, less allowance for doubtful accounts
This item represented 9.41% of total assets in 2019, declined to 7.44% in 2020, and then remained relatively stable around 8% until 2022. In 2023, it increased to 9.13%, close to the 2019 level, suggesting a recovery in receivables or sales on credit in the most recent year.
Inventories
Inventories as a percentage of total assets trended upward consistently from 12.21% in 2019 to 17.95% in 2023. This steady increase over the five-year period signals growing stock levels relative to the company’s asset base, potentially reflecting increased production or precautionary buildup of goods.
Other current assets
This category remained relatively stable, fluctuating mildly between 2.45% and 3.04% of total assets across the period. It increased slightly to 3.04% by 2023, indicating a marginal growth in other current asset components.
Current assets
Current assets as a share of total assets rose sharply from 41.13% in 2019 to nearly half of total assets at 50.29% in 2022. However, in 2023, there was a notable decline to 44.4%. This pattern shows an initial strategy to hold more short-term assets, followed by a partial rebalancing toward other asset classes in the final year.
Property, plant and equipment, less accumulated depreciation
This asset category exhibited a steady upward trend from 16.8% in 2019 to 22.43% in 2023, indicating increased investment or capital expenditure in fixed assets relative to the total asset base during the period.
Finance lease right of use assets
The finance lease right of use assets were not reported until 2023, when they constituted a minor 0.06% of total assets. This suggests the emergence or recognition of finance lease assets in the final year.
Property, plant and equipment including finance lease right of use assets, less accumulated depreciation
When combining property, plant and equipment with finance lease right of use assets, the proportion closely mirrors the previous category, moving from 16.8% in 2019 to 22.49% in 2023, confirming expanded capital assets.
Operating lease right of use assets
Operating lease right of use assets slightly declined from 1.64% in 2019 to about 1.3% in 2021 but then increased to 1.61% by 2023, showing some fluctuation but relative stability in the use of operating leases as part of the asset base.
Goodwill
Goodwill decreased from 22.45% of total assets in 2019 to 18.4% in 2022, before increasing modestly to 19.31% in 2023. This decline followed by a small recovery could reflect changes in acquisitions or impairment adjustments over time.
Identifiable intangible assets, less accumulated amortization
Identifiable intangible assets steadily declined in percentage terms from 16.37% in 2019 to 9.25% in 2022, with a slight increase to 9.37% in 2023. This downward trend indicates amortization or disposal of intangible assets, with a minor stabilization in the most recent year.
Noncurrent deferred tax assets
The share of noncurrent deferred tax assets increased gradually from 0.76% in 2019 to 1.44% in 2023, suggesting a growing recognition of deferred tax items as part of the noncurrent asset portfolio.
Other noncurrent assets
Other noncurrent assets also showed a rising trend from 0.85% in 2019 to 1.38% in 2023, indicating expansion or greater recognition of various noncurrent assets over time.
Noncurrent assets
Noncurrent assets as a proportion of total assets decreased from 58.87% in 2019 to about 49.71% in 2022, then rebounded to 55.6% in 2023. This pattern indicates an initial reduction in long-term asset holdings, followed by renewed investment or asset growth in the latest year.