Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Long-term Activity Ratios (Summary)
Net Fixed Asset Turnover
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Total Asset Turnover
Equity Turnover

Zoetis Inc., long-term (investment) activity ratios (quarterly data)

	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	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Oct 1, 2017	Jul 2, 2017	Apr 2, 2017
Net fixed asset turnover	3.17	3.21	3.26	3.24	3.15	3.03	3.12	3.15	3.21	3.23	3.39	3.48	3.51	3.51	3.68	3.80	3.75	3.70	—	—	—
Net fixed asset turnover (including operating lease, right-of-use asset)	2.95	2.99	3.02	3.01	2.90	2.79	2.85	2.89	2.94	2.94	3.07	3.13	3.21	3.51	3.68	3.80	3.75	3.70	—	—	—
Total asset turnover	0.57	0.56	0.56	0.53	0.51	0.49	0.48	0.49	0.55	0.54	0.55	0.55	0.54	0.54	0.55	0.65	0.63	0.62	—	—	—
Equity turnover	1.69	1.71	1.63	1.70	1.71	1.77	1.82	2.13	2.30	2.31	2.30	2.51	2.55	2.67	2.70	2.84	2.78	3.00	—	—	—

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Long-term activity ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Zoetis Inc. net fixed asset turnover ratio deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022.
Net fixed asset turnover (including operating lease, right-of-use asset)	An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset).	Zoetis Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022.
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Zoetis Inc. total asset turnover ratio improved from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022.
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Zoetis Inc. equity turnover ratio improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022.

Zoetis Inc., net fixed asset turnover calculation (quarterly data)

	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	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Oct 1, 2017	Jul 2, 2017	Apr 2, 2017
Selected Financial Data (US$ in millions)
Revenue	1,986)	1,967)	1,990)	1,948)	1,871)	1,807)	1,786)	1,548)	1,534)	1,674)	1,584)	1,547)	1,455)	1,564)	1,480)	1,415)	1,366)	1,460)	1,347)	1,269)	1,231)
Property, plant and equipment, less accumulated depreciation	2,487)	2,422)	2,338)	2,286)	2,227)	2,202)	2,099)	2,011)	1,977)	1,940)	1,813)	1,739)	1,683)	1,658)	1,556)	1,470)	1,453)	1,435)	1,388)	1,355)	1,368)
Long-term Activity Ratio
Net fixed asset turnover¹	3.17	3.21	3.26	3.24	3.15	3.03	3.12	3.15	3.21	3.23	3.39	3.48	3.51	3.51	3.68	3.80	3.75	3.70	—	—	—
Benchmarks
Net Fixed Asset Turnover, Competitors²
AbbVie Inc.	11.18	11.00	10.75	10.41	9.67	8.73	8.15	7.38	11.50	11.23	—	—	—	—	—	—	—	—	—	—	—
Amgen Inc.	4.75	4.69	4.89	4.92	4.93	4.96	4.94	4.78	4.68	4.51	—	—	—	—	—	—	—	—	—	—	—
Bristol-Myers Squibb Co.	7.77	7.67	7.75	7.66	7.43	7.22	6.86	6.03	5.07	4.18	—	—	—	—	—	—	—	—	—	—	—
Eli Lilly & Co.	3.22	3.15	3.11	3.02	2.95	2.83	2.80	2.88	2.92	2.83	—	—	—	—	—	—	—	—	—	—	—
Gilead Sciences Inc.	5.18	5.27	5.40	5.27	5.06	4.90	4.74	4.70	4.90	4.91	—	—	—	—	—	—	—	—	—	—	—
Johnson & Johnson	5.07	4.95	4.95	4.79	4.59	4.40	4.53	4.57	4.75	4.65	—	—	—	—	—	—	—	—	—	—	—
Merck & Co. Inc.	2.73	2.53	2.57	2.61	2.55	2.67	2.80	2.99	3.15	3.11	—	—	—	—	—	—	—	—	—	—	—
Pfizer Inc.	6.12	5.46	4.79	3.89	3.31	3.01	2.98	3.21	3.47	3.71	—	—	—	—	—	—	—	—	—	—	—
Regeneron Pharmaceuticals Inc.	4.64	4.62	3.99	3.69	2.82	2.64	2.63	2.64	2.71	2.72	—	—	—	—	—	—	—	—	—	—	—
Thermo Fisher Scientific Inc.	4.87	4.71	5.54	5.83	5.85	5.45	5.50	5.37	5.42	5.38	—	—	—	—	—	—	—	—	—	—	—

¹ Q1 2022 Calculation
Net fixed asset turnover = (Revenue_{Q1 2022} + Revenue_{Q4 2021} + Revenue_{Q3 2021} + Revenue_{Q2 2021}) ÷ Property, plant and equipment, less accumulated depreciation
= (1,986 + 1,967 + 1,990 + 1,948) ÷ 2,487 = 3.17

² Click competitor name to see calculations.

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Long-term activity ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Zoetis Inc. net fixed asset turnover ratio deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022.

Zoetis Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)

	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	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Oct 1, 2017	Jul 2, 2017	Apr 2, 2017
Selected Financial Data (US$ in millions)
Revenue	1,986)	1,967)	1,990)	1,948)	1,871)	1,807)	1,786)	1,548)	1,534)	1,674)	1,584)	1,547)	1,455)	1,564)	1,480)	1,415)	1,366)	1,460)	1,347)	1,269)	1,231)

Property, plant and equipment, less accumulated depreciation	2,487)	2,422)	2,338)	2,286)	2,227)	2,202)	2,099)	2,011)	1,977)	1,940)	1,813)	1,739)	1,683)	1,658)	1,556)	1,470)	1,453)	1,435)	1,388)	1,355)	1,368)
Operating lease right of use assets	189)	181)	188)	177)	189)	192)	194)	181)	182)	189)	193)	195)	158)	—)	—)	—)	—)	—)	—)	—)	—)
Property, plant and equipment, less accumulated depreciation (including operating lease, right-of-use asset)	2,676)	2,603)	2,526)	2,463)	2,416)	2,394)	2,293)	2,192)	2,159)	2,129)	2,006)	1,934)	1,841)	1,658)	1,556)	1,470)	1,453)	1,435)	1,388)	1,355)	1,368)
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)¹	2.95	2.99	3.02	3.01	2.90	2.79	2.85	2.89	2.94	2.94	3.07	3.13	3.21	3.51	3.68	3.80	3.75	3.70	—	—	—

¹ Q1 2022 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (Revenue_{Q1 2022} + Revenue_{Q4 2021} + Revenue_{Q3 2021} + Revenue_{Q2 2021}) ÷ Property, plant and equipment, less accumulated depreciation (including operating lease, right-of-use asset)
= (1,986 + 1,967 + 1,990 + 1,948) ÷ 2,676 = 2.95

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Long-term activity ratio	Description	The company
Net fixed asset turnover (including operating lease, right-of-use asset)	An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset).	Zoetis Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022.

Zoetis Inc., total asset turnover calculation (quarterly data)

	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	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Oct 1, 2017	Jul 2, 2017	Apr 2, 2017
Selected Financial Data (US$ in millions)
Revenue	1,986)	1,967)	1,990)	1,948)	1,871)	1,807)	1,786)	1,548)	1,534)	1,674)	1,584)	1,547)	1,455)	1,564)	1,480)	1,415)	1,366)	1,460)	1,347)	1,269)	1,231)
Total assets	13,860)	13,900)	13,705)	14,069)	13,796)	13,609)	13,725)	13,069)	11,528)	11,545)	11,272)	10,986)	10,883)	10,777)	10,459)	8,603)	8,690)	8,586)	9,288)	7,802)	7,649)
Long-term Activity Ratio
Total asset turnover¹	0.57	0.56	0.56	0.53	0.51	0.49	0.48	0.49	0.55	0.54	0.55	0.55	0.54	0.54	0.55	0.65	0.63	0.62	—	—	—
Benchmarks
Total Asset Turnover, Competitors²
AbbVie Inc.	0.40	0.38	0.37	0.36	0.33	0.30	0.27	0.24	0.37	0.37	—	—	—	—	—	—	—	—	—	—	—
Amgen Inc.	0.41	0.40	0.37	0.40	0.38	0.39	0.37	0.36	0.37	0.37	—	—	—	—	—	—	—	—	—	—	—
Bristol-Myers Squibb Co.	0.46	0.42	0.41	0.40	0.38	0.36	0.31	0.27	0.24	0.20	—	—	—	—	—	—	—	—	—	—	—
Eli Lilly & Co.	0.62	0.58	0.58	0.56	0.54	0.53	0.53	0.55	0.56	0.57	—	—	—	—	—	—	—	—	—	—	—
Gilead Sciences Inc.	0.43	0.40	0.41	0.39	0.37	0.36	0.37	0.39	0.37	0.36	—	—	—	—	—	—	—	—	—	—	—
Johnson & Johnson	0.53	0.52	0.51	0.51	0.49	0.47	0.47	0.51	0.53	0.52	—	—	—	—	—	—	—	—	—	—	—
Merck & Co. Inc.	0.51	0.46	0.51	0.52	0.51	0.52	0.53	0.52	0.57	0.55	—	—	—	—	—	—	—	—	—	—	—
Pfizer Inc.	0.50	0.45	0.39	0.33	0.29	0.27	0.24	0.25	0.29	0.31	—	—	—	—	—	—	—	—	—	—	—
Regeneron Pharmaceuticals Inc.	0.63	0.63	0.57	0.58	0.52	0.50	0.51	0.55	0.51	0.53	—	—	—	—	—	—	—	—	—	—	—
Thermo Fisher Scientific Inc.	0.44	0.41	0.53	0.57	0.54	0.47	0.44	0.43	0.44	0.44	—	—	—	—	—	—	—	—	—	—	—

¹ Q1 2022 Calculation
Total asset turnover = (Revenue_{Q1 2022} + Revenue_{Q4 2021} + Revenue_{Q3 2021} + Revenue_{Q2 2021}) ÷ Total assets
= (1,986 + 1,967 + 1,990 + 1,948) ÷ 13,860 = 0.57

² Click competitor name to see calculations.

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Long-term activity ratio	Description	The company
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Zoetis Inc. total asset turnover ratio improved from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022.

Zoetis Inc., equity turnover calculation (quarterly data)

	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	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Oct 1, 2017	Jul 2, 2017	Apr 2, 2017
Selected Financial Data (US$ in millions)
Revenue	1,986)	1,967)	1,990)	1,948)	1,871)	1,807)	1,786)	1,548)	1,534)	1,674)	1,584)	1,547)	1,455)	1,564)	1,480)	1,415)	1,366)	1,460)	1,347)	1,269)	1,231)
Total Zoetis Inc. equity	4,658)	4,543)	4,679)	4,350)	4,089)	3,769)	3,602)	2,982)	2,753)	2,708)	2,678)	2,411)	2,317)	2,185)	2,118)	1,970)	1,960)	1,770)	1,989)	1,715)	1,609)
Long-term Activity Ratio
Equity turnover¹	1.69	1.71	1.63	1.70	1.71	1.77	1.82	2.13	2.30	2.31	2.30	2.51	2.55	2.67	2.70	2.84	2.78	3.00	—	—	—
Benchmarks
Equity Turnover, Competitors²
AbbVie Inc.	3.48	3.65	4.07	4.27	3.66	3.50	2.66	2.46	—	—	—	—	—	—	—	—	—	—	—	—	—
Amgen Inc.	26.68	3.63	2.96	2.93	2.56	2.58	2.17	2.17	2.41	2.30	—	—	—	—	—	—	—	—	—	—	—
Bristol-Myers Squibb Co.	1.49	1.29	1.22	1.21	1.14	1.12	0.79	0.71	0.62	0.51	—	—	—	—	—	—	—	—	—	—	—
Eli Lilly & Co.	3.14	3.15	3.58	4.15	3.69	4.35	4.81	5.61	7.50	8.56	—	—	—	—	—	—	—	—	—	—	—
Gilead Sciences Inc.	1.37	1.28	1.27	1.34	1.33	1.34	1.31	1.21	1.01	0.98	—	—	—	—	—	—	—	—	—	—	—
Johnson & Johnson	1.27	1.27	1.30	1.28	1.28	1.31	1.25	1.28	1.35	1.38	—	—	—	—	—	—	—	—	—	—	—
Merck & Co. Inc.	1.32	1.28	1.33	1.41	1.73	1.90	1.62	1.71	1.83	1.81	—	—	—	—	—	—	—	—	—	—	—
Pfizer Inc.	1.12	1.05	0.91	0.79	0.68	0.66	0.66	0.70	0.75	0.82	—	—	—	—	—	—	—	—	—	—	—
Regeneron Pharmaceuticals Inc.	0.83	0.86	0.78	0.82	0.77	0.77	0.81	0.88	0.66	0.71	—	—	—	—	—	—	—	—	—	—	—
Thermo Fisher Scientific Inc.	1.00	0.96	1.01	1.04	1.02	0.93	0.90	0.88	0.90	0.86	—	—	—	—	—	—	—	—	—	—	—

¹ Q1 2022 Calculation
Equity turnover = (Revenue_{Q1 2022} + Revenue_{Q4 2021} + Revenue_{Q3 2021} + Revenue_{Q2 2021}) ÷ Total Zoetis Inc. equity
= (1,986 + 1,967 + 1,990 + 1,948) ÷ 4,658 = 1.69

² Click competitor name to see calculations.

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Long-term activity ratio	Description	The company
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Zoetis Inc. equity turnover ratio improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022.

Zoetis Inc. (NYSE:ZTS)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Long-term Activity Ratios (Summary)

Net Fixed Asset Turnover

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Total Asset Turnover

Equity Turnover

Zoetis Inc. (NYSE:ZTS)

Analysis of Long-term (Investment) Activity RatiosQuarterly Data

Long-term Activity Ratios (Summary)

Net Fixed Asset Turnover

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Total Asset Turnover

Equity Turnover

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data