Return on Assets (ROA)
since 2012
Calculation
Zoetis Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income attributable to Zoetis1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 16.41% | = | 100 | × | 2,344) | ÷ | 14,286) |
| Dec 31, 2022 | 14.16% | = | 100 | × | 2,114) | ÷ | 14,925) |
| Dec 31, 2021 | 14.65% | = | 100 | × | 2,037) | ÷ | 13,900) |
| Dec 31, 2020 | 12.04% | = | 100 | × | 1,638) | ÷ | 13,609) |
| Dec 31, 2019 | 12.99% | = | 100 | × | 1,500) | ÷ | 11,545) |
| Dec 31, 2018 | 13.25% | = | 100 | × | 1,428) | ÷ | 10,777) |
| Dec 31, 2017 | 10.06% | = | 100 | × | 864) | ÷ | 8,586) |
| Dec 31, 2016 | 10.73% | = | 100 | × | 821) | ÷ | 7,649) |
| Dec 31, 2015 | 4.28% | = | 100 | × | 339) | ÷ | 7,913) |
| Dec 31, 2014 | 8.82% | = | 100 | × | 583) | ÷ | 6,607) |
| Dec 31, 2013 | 7.69% | = | 100 | × | 504) | ÷ | 6,558) |
| Dec 31, 2012 | 6.96% | = | 100 | × | 436) | ÷ | 6,262) |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
1 US$ in millions
The financial data reveals several distinct trends in the performance and asset base of the company over the reported period.
- Net Income Attributable to Zoetis (US$ in millions)
- Net income demonstrates consistent growth with some fluctuations. It starts at $436 million in 2012 and rises significantly to $2,344 million by 2023. Noticeable dips occur in 2015, where net income decreases to $339 million from the previous year, but subsequent years show a strong recovery and continuous increase. The trend indicates a robust upward trajectory in profitability over the long term.
- Total Assets (US$ in millions)
- Total assets show a general upward trend with moderate fluctuations. Beginning at $6,262 million in 2012, total assets increase steadily to $14,286 million by 2023. An exception appears in 2016 when total assets slightly declined from the previous year, followed by a sharp rise in the succeeding years, peaking around 2022 before a modest decrease in 2023. Overall, the asset base has more than doubled over the eleven-year span.
- Return on Assets (ROA, %)
- ROA reflects the company’s efficiency in generating profit from its assets. The ratio increases from 6.96% in 2012 to 16.41% in 2023, indicating enhanced asset utilization. There is a notable dip in 2015 to 4.28%, aligning with the sharp decline in net income that year, but the ratio recovers and improves steadily thereafter. The values generally surpass 10% from 2016 onward, demonstrating sustained profitability relative to the asset base.
In summary, the company exhibits strong growth in net income and total assets, complemented by improving returns on assets, although temporary setbacks were observed in 2015. The upward trends suggest effective management of resources and growing financial strength over the period examined.
Comparison to Competitors
Zoetis Inc., ROA, long-term trends, comparison to competitors
| Zoetis Inc. | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Gilead Sciences Inc. | Johnson & Johnson | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 16.41% | 3.61% | 6.91% | 8.43% | 5.64% | 8.19% | 9.12% | 20.98% | 0.34% | 0.94% | 11.95% | 6.07% | 15.92% |
| Dec 31, 2022 | 14.16% | 8.53% | 10.06% | 6.53% | 8.55% | 12.62% | 7.27% | 9.57% | 13.30% | 15.91% | 14.85% | 7.15% | 18.30% |
| Dec 31, 2021 | 14.65% | 7.88% | 9.63% | 6.40% | 7.73% | 11.44% | 9.16% | 11.47% | 12.35% | 12.11% | 31.75% | 8.12% | 17.44% |
| Dec 31, 2020 | 12.04% | 3.07% | 11.54% | -7.61% | 4.79% | 13.28% | 0.18% | 8.41% | 7.72% | 6.23% | 20.47% | 9.23% | 23.07% |
| Dec 31, 2019 | 12.99% | 8.84% | 13.13% | 2.65% | 4.85% | 21.17% | 8.74% | 9.59% | 11.66% | 9.72% | 14.29% | 6.33% | 14.15% |
| Dec 31, 2018 | 13.25% | 9.58% | 12.64% | 14.06% | 5.54% | 7.36% | 8.57% | 10.00% | 7.53% | 7.00% | 20.83% | 5.22% | 33.57% |
| Dec 31, 2017 | 10.06% | 7.50% | 2.48% | 3.00% | 5.34% | -0.45% | 6.58% | 0.83% | 2.72% | 12.40% | 13.67% | 3.93% | 7.43% |
| Dec 31, 2016 | 10.73% | 9.01% | 9.95% | 13.22% | 5.64% | 7.05% | 23.70% | 11.71% | 4.11% | 4.20% | 12.84% | 4.40% | -3.87% |
| Dec 31, 2015 | 4.28% | 9.70% | 9.69% | 4.93% | 6.96% | 6.77% | 34.93% | 11.55% | 4.36% | 4.16% | 11.34% | 4.83% | -22.26% |
| Dec 31, 2014 | 8.82% | 6.44% | 7.47% | 5.94% | 7.02% | 6.43% | 34.91% | 12.45% | 12.12% | 5.40% | 8.99% | 4.42% | -31.63% |
| Dec 31, 2013 | 7.69% | 14.14% | 7.68% | 6.64% | 7.77% | 13.29% | 13.67% | 10.42% | 4.17% | 12.78% | 14.38% | 4.00% | -19.19% |
| Dec 31, 2012 | 6.96% | 19.53% | 8.00% | 5.46% | 7.26% | 11.89% | 12.20% | 8.94% | 5.81% | 7.84% | 36.06% | 4.29% | -3.88% |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Zoetis Inc., ROA, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Zoetis Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Dec 31, 2023 | 16.41% | 7.25% |
| Dec 31, 2022 | 14.16% | 10.67% |
| Dec 31, 2021 | 14.65% | 10.42% |
| Dec 31, 2020 | 12.04% | 5.45% |
| Dec 31, 2019 | 12.99% | 9.02% |
| Dec 31, 2018 | 13.25% | 8.97% |
| Dec 31, 2017 | 10.06% | 5.28% |
| Dec 31, 2016 | 10.73% | 8.61% |
| Dec 31, 2015 | 4.28% | 8.93% |
| Dec 31, 2014 | 8.82% | 9.45% |
| Dec 31, 2013 | 7.69% | 9.46% |
| Dec 31, 2012 | 6.96% | 8.30% |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
Comparison to Industry (Health Care)
Zoetis Inc., ROA, long-term trends, comparison to industry (health care)
| Zoetis Inc. | Health Care | |
|---|---|---|
| Dec 31, 2023 | 16.41% | 6.71% |
| Dec 31, 2022 | 14.16% | 8.71% |
| Dec 31, 2021 | 14.65% | 8.70% |
| Dec 31, 2020 | 12.04% | 5.45% |
| Dec 31, 2019 | 12.99% | 7.57% |
| Dec 31, 2018 | 13.25% | 6.72% |
| Dec 31, 2017 | 10.06% | 5.31% |
| Dec 31, 2016 | 10.73% | 7.18% |
| Dec 31, 2015 | 4.28% | 7.54% |
| Dec 31, 2014 | 8.82% | 8.41% |
| Dec 31, 2013 | 7.69% | 8.58% |
| Dec 31, 2012 | 6.96% | 7.94% |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).