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| Date | Value |
|---|---|
| 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 |