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.

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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Zoetis Inc., consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: 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
Net income before allocation to noncontrolling interests
Depreciation and amortization expense
Share-based compensation expense
Asset write-offs and asset impairments
Gain on sale of businesses, excluding transaction costs
Provision for losses on inventory
Deferred taxes
Employee benefit plan contribution from Pfizer Inc.
Loss on treasury locks
Other non-cash adjustments
Accounts receivable
Inventories
Other assets
Accounts payable
Other liabilities
Other tax accounts, net
Other changes in assets and liabilities, net of acquisitions and divestitures
Adjustments to reconcile net income before noncontrolling interests to net cash provided by operating activities
Net cash provided by operating activities
Capital expenditures
Acquisitions, net of cash acquired
Purchase of investments
Proceeds from maturities and redemptions of investments
Proceeds on derivative instrument activity, net
Proceeds from sale of businesses, net of cash sold
Net proceeds from sale of assets
Other investing activities
Net cash used in investing activities
Increase (decrease) in short-term borrowings, net
Proceeds from issuance of long-term debt, senior notes, net of discount
Principal payments on long-term debt
Payment of consideration related to previous acquisitions
Acquisition of a noncontrolling interest, net of cash acquired
Share-based compensation-related proceeds, net of taxes paid on withholding shares
Purchases of treasury stock
Cash dividends paid
Payment of debt issuance costs
Net cash provided by (used in) financing activities
Effect of exchange-rate changes on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Net Income Before Allocation to Noncontrolling Interests
The net income exhibits notable volatility but generally trended upward from 2019 through mid-2023, peaking in June 2023 at 670 million USD. However, there is a moderate decline noted in the final quarters of 2023 and early 2024.
Depreciation and Amortization Expense
This expense has shown a consistent and gradual increase over the entire period, rising from 98 million USD in early 2019 to 126 million USD by the first quarter of 2024, indicating steady capital asset investment or amortization schedules.
Share-Based Compensation Expense
The expense remained relatively stable with slight fluctuations between 13 and 18 million USD, without a discernible trend upwards or downwards over the analyzed period.
Asset Write-Offs and Impairments
The data indicates irregular spikes, notably a substantial increase at the end of 2020 and in late 2022, reaching as high as 46 million USD, reflecting episodic asset impairments or write-offs rather than a steady trend.
Provision for Losses on Inventory
This provision fluctuates considerably, with noticeable peaks in late 2020 (49 million USD) and late 2022 to early 2023 (up to 35 million USD), suggesting periodic inventory challenges or adjustments.
Deferred Taxes
The deferred tax figures oscillate between negative and positive values, lacking a clear trend, though large negative spikes in late 2022 (-176 million USD) and some smaller fluctuations suggest varying tax timing differences.
Accounts Receivable
Changes in accounts receivable are volatile, with both positive and negative swings. There are marked decreases in early 2021 and mid-2023, possibly reflecting fluctuations in sales or collections.
Inventories
Inventory levels exhibit significant variability, with large decreases in some quarters (e.g., -235 million USD in early 2023) and occasional increases. This pattern may indicate fluctuating stock management policies or demand cycles.
Other Assets and Liabilities
Both other assets and liabilities show substantial variability across quarters, including significant positive and negative swings, which may be indicative of operational or balance sheet management strategies and timing differences in recognition.
Net Cash Provided by Operating Activities
Operating cash flows generally show positive values throughout, with peaks notably in late 2020, late 2022, and early 2024, suggesting strong cash generation capability. However, the magnitude varies significantly quarter to quarter.
Capital Expenditures
Capital expenditures display an increasing trend in absolute terms, often ranging from approximately 60 million USD to nearly 200 million USD per quarter, indicating sustained investment in fixed assets.
Acquisitions
Acquisition activity varies with intermittent large expenditures, including a peak in late 2022 (-216 million USD), reflecting occasional strategic purchases rather than a steady acquisition program.
Net Cash Used in Investing Activities
Investing cash flows generally represent significant cash outflows with peak usage during acquisition-heavy quarters or periods with high capital expenditure, with notable outflows in late 2022 and early 2023.
Financing Activities
Financing cash flows are highly variable, with notable inflows corresponding with debt issuance in mid-2020 and 2022, and considerable outflows during principal payments in other periods. Share repurchases and dividends consistently represent substantial cash outflows throughout the period.
Purchases of Treasury Stock and Dividends Paid
There is a clear pattern of consistent and significant cash outflows for treasury stock purchases and dividends throughout the entire period, suggesting a strong commitment to returning capital to shareholders.
Effect of Exchange Rate Changes
Foreign exchange effects on cash are somewhat volatile but generally moderate in magnitude, with both positive and negative impacts observed irregularly across quarters.
Overall Cash Flow Trend
The net change in cash and cash equivalents shows considerable quarter-to-quarter variability but no sustained accumulation or depletion trend. Periods of substantial increases in cash, such as mid-2020 and early 2023, are offset by episodes of reductions, indicating dynamic liquidity management.