Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Zoetis Inc. (NYSE:ZTS)

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Analysis of Solvency Ratios

Beginner level

Solvency Ratios (Summary)

Zoetis Inc., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (filing date: 2021-02-16), 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-16).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Zoetis Inc.’s debt to equity ratio improved from 2018 to 2019 and from 2019 to 2020.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Zoetis Inc.’s debt to equity ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Zoetis Inc.’s debt to capital ratio improved from 2018 to 2019 and from 2019 to 2020.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Zoetis Inc.’s debt to capital ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Zoetis Inc.’s debt to assets ratio improved from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Zoetis Inc.’s debt to assets ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Zoetis Inc.’s financial leverage ratio decreased from 2018 to 2019 and from 2019 to 2020.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Zoetis Inc.’s interest coverage ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Zoetis Inc.’s fixed charge coverage ratio improved from 2018 to 2019 and from 2019 to 2020.

Debt to Equity

Zoetis Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings
Current portion of long-term debt
Long-term debt, net of discount and issuance costs, excluding current portion
Total debt
 
Total Zoetis Inc. equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Debt to Equity, Sector
Pharmaceuticals & Biotechnology
Debt to Equity, Industry
Health Care

Based on: 10-K (filing date: 2021-02-16), 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-16).

1 2020 Calculation
Debt to equity = Total debt ÷ Total Zoetis Inc. equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Zoetis Inc.’s debt to equity ratio improved from 2018 to 2019 and from 2019 to 2020.

Debt to Equity (including Operating Lease Liability)

Zoetis Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings
Current portion of long-term debt
Long-term debt, net of discount and issuance costs, excluding current portion
Total debt
Operating lease liabilities, current (in Other current liabilities)
Operating lease liabilities, noncurrent
Total debt (including operating lease liability)
 
Total Zoetis Inc. equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Debt to Equity (including Operating Lease Liability), Sector
Pharmaceuticals & Biotechnology
Debt to Equity (including Operating Lease Liability), Industry
Health Care

Based on: 10-K (filing date: 2021-02-16), 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-16).

1 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Zoetis Inc. equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Zoetis Inc.’s debt to equity ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.

Debt to Capital

Zoetis Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings
Current portion of long-term debt
Long-term debt, net of discount and issuance costs, excluding current portion
Total debt
Total Zoetis Inc. equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Debt to Capital, Sector
Pharmaceuticals & Biotechnology
Debt to Capital, Industry
Health Care

Based on: 10-K (filing date: 2021-02-16), 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-16).

1 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Zoetis Inc.’s debt to capital ratio improved from 2018 to 2019 and from 2019 to 2020.

Debt to Capital (including Operating Lease Liability)

Zoetis Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings
Current portion of long-term debt
Long-term debt, net of discount and issuance costs, excluding current portion
Total debt
Operating lease liabilities, current (in Other current liabilities)
Operating lease liabilities, noncurrent
Total debt (including operating lease liability)
Total Zoetis Inc. equity
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Debt to Capital (including Operating Lease Liability), Sector
Pharmaceuticals & Biotechnology
Debt to Capital (including Operating Lease Liability), Industry
Health Care

Based on: 10-K (filing date: 2021-02-16), 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-16).

1 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Zoetis Inc.’s debt to capital ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.

Debt to Assets

Zoetis Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings
Current portion of long-term debt
Long-term debt, net of discount and issuance costs, excluding current portion
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Debt to Assets, Sector
Pharmaceuticals & Biotechnology
Debt to Assets, Industry
Health Care

Based on: 10-K (filing date: 2021-02-16), 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-16).

1 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Zoetis Inc.’s debt to assets ratio improved from 2018 to 2019 and from 2019 to 2020.

Debt to Assets (including Operating Lease Liability)

Zoetis Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings
Current portion of long-term debt
Long-term debt, net of discount and issuance costs, excluding current portion
Total debt
Operating lease liabilities, current (in Other current liabilities)
Operating lease liabilities, noncurrent
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Debt to Assets (including Operating Lease Liability), Sector
Pharmaceuticals & Biotechnology
Debt to Assets (including Operating Lease Liability), Industry
Health Care

Based on: 10-K (filing date: 2021-02-16), 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-16).

1 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Zoetis Inc.’s debt to assets ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.

Financial Leverage

Zoetis Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Total assets
Total Zoetis Inc. equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Financial Leverage, Sector
Pharmaceuticals & Biotechnology
Financial Leverage, Industry
Health Care

Based on: 10-K (filing date: 2021-02-16), 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-16).

1 2020 Calculation
Financial leverage = Total assets ÷ Total Zoetis Inc. equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Zoetis Inc.’s financial leverage ratio decreased from 2018 to 2019 and from 2019 to 2020.

Interest Coverage

Zoetis Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net income attributable to Zoetis
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense, net of capitalized interest
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Interest Coverage, Sector
Pharmaceuticals & Biotechnology
Interest Coverage, Industry
Health Care

Based on: 10-K (filing date: 2021-02-16), 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-16).

1 2020 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Zoetis Inc.’s interest coverage ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.

Fixed Charge Coverage

Zoetis Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net income attributable to Zoetis
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense, net of capitalized interest
Earnings before interest and tax (EBIT)
Add: Operating lease expense
Earnings before fixed charges and tax
 
Interest expense, net of capitalized interest
Operating lease expense
Fixed charges
Solvency Ratio
Fixed charge coverage1
Benchmarks
Fixed Charge Coverage, Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Vertex Pharmaceuticals Inc.
Fixed Charge Coverage, Sector
Pharmaceuticals & Biotechnology
Fixed Charge Coverage, Industry
Health Care

Based on: 10-K (filing date: 2021-02-16), 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-16).

1 2020 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Zoetis Inc.’s fixed charge coverage ratio improved from 2018 to 2019 and from 2019 to 2020.