Zoetis (ZTS) Operating Expenses (2012 - 2026)
Zoetis (ZTS) posted quarterly 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 reported Operating Expenses for 15 consecutive years, with $788.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 7.07% year-over-year to $788.0 million; the TTM figure through Mar 2026 stood at $3.2 billion (up 3.7% YoY), while the FY2025 annual figure was $3.1 billion, up 2.22% from the prior year.
- Operating Expenses slipped to $788.0 million in Q1 2026 per ZTS's latest filing, from $834.0 million in the prior quarter.
- Across five years, Operating Expenses topped out at $834.0 million in Q4 2025 and bottomed at $589.0 million in Q1 2022.
- Historically, Operating Expenses has averaged $727.0 million across 5 years, with a median of $736.0 million in 2025.
- On a YoY basis, Operating Expenses climbed as much as 349.62% in 2022 and fell as far as 10.34% in 2022.
- Zoetis' Operating Expenses stood at $659.0 million in 2022, then climbed by 13.35% to $747.0 million in 2023, then gained by 8.84% to $813.0 million in 2024, then climbed by 2.58% to $834.0 million in 2025, then slipped 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Haleon | 43.71 Bn | 42.75 Bn | - | - |
| 2 | Teva Pharmaceutical Industries | 43.11 Bn | 39.45 Bn | 2.15 Bn | 1.29 Bn |
| 3 | Zoetis | 31.62 Bn | 29.94 Bn | 1.05 Bn | 215.00 Mn |
| 4 | Takeda Pharmaceutical | 28.72 Bn | 22.92 Bn | 5.10 Bn | -2.85 Bn |
| 5 | United Therapeutics | 22.33 Bn | 19.67 Bn | 683.80 Mn | 452.50 Mn |
| 6 | Viatris | 18.83 Bn | 17.95 Bn | 1.46 Bn | 1.45 Bn |
| 7 | Neurocrine Biosciences | 15.62 Bn | 15.23 Bn | 935.80 Mn | 807.50 Mn |
| 8 | Elanco Animal Health | 12.10 Bn | 11.57 Bn | 798.00 Mn | 550.00 Mn |
| 9 | Dr Reddys Laboratories | 10.11 Bn | 9.94 Bn | - | - |
| 10 | Alkermes | 8.25 Bn | 7.60 Bn | 397.90 Mn | 477.66 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 842.00 Mn |
| Mar 31, 2026 | 788.00 Mn |
| Dec 31, 2025 | 834.00 Mn |
| Sep 30, 2025 | 753.00 Mn |
| Jun 30, 2025 | 819.00 Mn |
| Mar 31, 2025 | 736.00 Mn |
| Dec 31, 2024 | 813.00 Mn |
| Sep 30, 2024 | 737.00 Mn |
| Jun 30, 2024 | 794.00 Mn |
| Mar 31, 2024 | 713.00 Mn |
| Dec 31, 2023 | 747.00 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 | 735.00 Mn |
| Sep 30, 2021 | 645.00 Mn |