Zoetis (ZTS) Operating Expenses (2012 - 2026)

Zoetis (ZTS) reported Operating Expenses of $788.0 million for Q1 2026, up 7.07% year-over-year from $736.0 million in Q1 2025, and down 5.52% quarter-over-quarter from $834.0 million in Q4 2025.

Zoetis (ZTS) Operating Expenses (2012 - 2026) Analysis & Trends

Zoetis (ZTS) has 15 years of Operating Expenses data on file, last reported at $788.0 million in Q1 2026.

  • Operating Expenses for Q1 2026 came in at $788.0 million, up 7.07% year-over-year; the trailing twelve-month figure through Mar 2026 was $3.2 billion (up 3.3% YoY), and the FY2025 annual result was $3.1 billion, up 2.56% from the prior year.
  • Operating Expenses declined to $788.0 million in Q1 2026 per ZTS's latest filing, from $834.0 million in the prior quarter.
  • Over five years, Operating Expenses peaked at $834.0 million in Q4 2025 and troughed at $589.0 million in Q1 2022.
  • A 5-year average of $724.2 million and a median of $730.0 million in 2024 frame the typical range for Operating Expenses.
  • On a YoY basis, Operating Expenses climbed as much as 353.08% in 2022 and fell as far as 9.1% in 2022.
  • A 5-year view of Operating Expenses shows it stood at $659.0 million in 2022, then grew by 12.29% to $740.0 million in 2023, then gained by 9.19% to $808.0 million in 2024, then rose by 3.22% to $834.0 million in 2025, then decreased by 5.52% to $788.0 million in 2026.
  • Business Quant data shows ZTS's Operating Expenses at $788.0 million in Q1 2026, $834.0 million in Q4 2025, and $753.0 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Teva Pharmaceutical Industries 38.34 Bn 34.60 Bn 1.97 Bn 526.00 Mn
2 Zoetis 33.27 Bn 31.33 Bn 1.62 Bn 788.00 Mn
3 United Therapeutics 23.75 Bn 21.60 Bn 648.10 Mn 455.70 Mn
4 Aurora Cannabis 17.11 Bn 17.03 Bn 33.43 Mn 19.40 Mn
5 Neurocrine Biosciences 16.37 Bn 15.05 Bn 800.70 Mn 621.10 Mn
6 Elanco Animal Health 11.78 Bn 11.35 Bn 785.00 Mn 478.00 Mn
7 Alkermes 7.05 Bn 6.54 Bn -116.06 Mn 441.19 Mn
8 Lantheus Holdings 6.49 Bn 5.99 Bn 230.92 Mn 96.91 Mn
9 Hims & Hers Health 6.19 Bn 5.44 Bn 396.79 Mn 475.11 Mn
10 Liquidia 5.63 Bn 5.40 Bn 121.79 Mn 71.36 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 788.00 Mn
Dec 31, 2025 834.00 Mn
Sep 30, 2025 753.00 Mn
Jun 30, 2025 789.00 Mn
Mar 31, 2025 736.00 Mn
Dec 31, 2024 808.00 Mn
Sep 30, 2024 730.00 Mn
Jun 30, 2024 789.00 Mn
Mar 31, 2024 720.00 Mn
Dec 31, 2023 740.00 Mn
Sep 30, 2023 693.00 Mn
Jun 30, 2023 710.00 Mn
Mar 31, 2023 668.00 Mn
Dec 31, 2022 659.00 Mn
Sep 30, 2022 641.00 Mn
Jun 30, 2022 665.00 Mn
Mar 31, 2022 589.00 Mn
Dec 31, 2021 725.00 Mn
Sep 30, 2021 645.00 Mn
Jun 30, 2021 636.00 Mn