Stock Analysis on Net
Stock Analysis on Net

Zoetis Inc. (NYSE:ZTS)

Common-Size Income Statement
Quarterly Data

Beginner level

Zoetis Inc., common-size consolidated income statement (quarterly data)

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3 months ended: Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Revenue 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Cost of sales -30.57 -29.13 -29.92 -31.66 -30.24 -30.06 -35.60 -34.78 -31.96 -31.59 -32.72 -31.30 -32.29 -34.67 -35.99 -36.65 -33.04 -33.03 -33.48 -38.93 -34.68 -36.34 -35.75
Gross profit 69.43% 70.87% 70.08% 68.34% 69.76% 69.94% 64.40% 65.22% 68.04% 68.41% 67.28% 68.70% 67.71% 65.33% 64.01% 63.35% 66.96% 66.97% 66.52% 61.07% 65.32% 63.66% 64.25%
Selling, general and administrative expenses -23.74 -25.39 -25.36 -28.20 -24.68 -26.24 -25.36 -26.85 -24.80 -25.37 -24.74 -24.73 -24.35 -26.48 -25.10 -28.27 -27.80 -28.39 -27.11 -33.36 -30.81 -32.26 -32.12
Research and development expenses -6.27 -7.17 -6.98 -7.89 -7.07 -7.18 -7.01 -7.99 -7.30 -7.21 -7.10 -7.53 -7.13 -6.78 -7.31 -8.46 -7.25 -7.28 -7.75 -8.56 -7.50 -7.15 -7.26
Amortization of intangible assets -2.24 -2.58 -2.61 -2.39 -2.40 -2.52 -2.61 -2.49 -2.16 -1.63 -1.68 -1.58 -1.71 -1.81 -1.79 -1.64 -1.69 -1.82 -1.81 -1.26 -1.24 -1.28 -1.36
Restructuring charges and certain acquisition-related costs -0.28 -0.52 -0.59 -1.08 -0.38 -1.42 -0.34 -0.90 -3.18 -0.35 -0.15 -0.82 -0.59 0.00 0.08 -1.57 -0.32 1.74 -0.17 -3.14 -1.07 -22.64 -0.09
Operating income 36.90% 35.21% 34.55% 28.79% 35.23% 32.58% 29.07% 26.98% 30.61% 33.85% 33.60% 34.04% 33.93% 30.26% 29.89% 23.41% 29.90% 31.21% 29.69% 14.76% 24.71% 0.34% 23.41%
Interest expense, net of capitalized interest -3.47 -3.75 -3.46 -3.35 -3.54 -3.56 -3.85 -3.77 -3.65 -3.25 -3.44 -3.42 -3.19 -3.23 -3.33 -3.21 -3.30 -3.39 -3.70 -2.98 -2.39 -2.47 -2.54
Other income (deductions), net 0.00 -0.32 1.30 0.66 1.64 0.39 0.96 3.52 1.28 0.28 0.37 -1.16 -0.07 0.16 0.81 -2.11 0.24 -0.33 2.58 -6.36 0.16 -0.17 0.00
Income (loss) before provision for taxes on income 33.43% 31.14% 32.40% 26.11% 33.33% 29.41% 26.19% 26.73% 28.24% 30.88% 30.53% 29.45% 30.66% 27.19% 27.38% 18.09% 26.83% 27.48% 28.57% 5.42% 22.49% -2.30% 20.87%
Provision for taxes on income -6.61 -6.85 -4.82 -3.17 -6.00 -5.43 -4.74 -4.67 -4.80 -3.89 -4.90 -23.97 -8.69 -7.72 -7.96 -6.03 -7.74 -8.94 -11.02 -3.85 -6.84 -0.77 -5.90
Net income (loss) before allocation to noncontrolling interests 26.82% 24.29% 27.57% 22.94% 27.34% 23.98% 21.44% 22.06% 23.45% 27.00% 25.62% 5.48% 21.97% 19.46% 19.42% 12.06% 19.10% 18.54% 17.56% 1.57% 15.65% -3.06% 14.97%
Net (income) loss attributable to noncontrolling interests 0.00 0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.14 0.15 0.07 0.15 0.00 -0.08 0.00 0.16 0.00 0.00 0.16 -0.08 -0.09 0.00
Net income (loss) attributable to Zoetis Inc. 26.82% 24.35% 27.57% 22.94% 27.34% 23.98% 21.44% 22.06% 23.45% 27.14% 25.77% 5.55% 22.12% 19.46% 19.33% 12.06% 19.26% 18.54% 17.56% 1.73% 15.57% -3.15% 14.97%

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-16), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Zoetis Inc.’s operating income as a percentage of revenue increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Income (loss) 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.’s income (loss) before provision for taxes on income as a percentage of revenue decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Net income (loss) 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.’s net income (loss) attributable to Zoetis Inc. as a percentage of revenue decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.