Zoetis (ZTS) Operating Margin (2012 - 2026)
Zoetis (ZTS) posted quarterly Operating Margin of 36.83% for Q1 2026, down 157.0% year-over-year from 64.61% in Q1 2025, and up 4.52% quarter-over-quarter from 35.23% in Q4 2025.
Zoetis (ZTS) Operating Margin (2012 - 2026) Analysis & Trends
Zoetis (ZTS) has reported Operating Margin for 15 consecutive years, with 36.83% the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Margin fell 157.0% year-over-year to 36.83%; the TTM figure through Mar 2026 stood at 38.17% (up 50.0% YoY), while the FY2025 annual figure was 38.83%, up 123.0% from the prior year.
- Operating Margin rose to 36.83% in Q1 2026 per ZTS's latest filing, from 35.23% in the prior quarter.
- Across five years, Operating Margin topped out at 41.69% in Q1 2022 and bottomed at 33.35% in Q4 2023.
- Historically, Operating Margin has averaged 37.75% across 5 years, with a median of 38.08% in 2024.
- Annual changes were most pronounced in 2022 — Operating Margin surged 1449 bps — and 2023, when it slumped 449 bps.
- Zoetis' Operating Margin stood at 35.69% in 2022, then fell by 7 bps to 33.35% in 2023, then advanced by 3 bps to 34.4% in 2024, then advanced by 2 bps to 35.23% in 2025, then gained by 5 bps to 36.83% in 2026.
- Business Quant data shows ZTS's Operating Margin at 36.83% in Q1 2026, 35.23% in Q4 2025, and 40.17% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Haleon | 43.65 Bn | 42.68 Bn | - | - |
| 2 | Teva Pharmaceutical Industries | 43.09 Bn | 39.44 Bn | 2.15 Bn | -5.58% |
| 3 | Zoetis | 31.54 Bn | 29.86 Bn | 1.05 Bn | 33.91% |
| 4 | Takeda Pharmaceutical | 28.61 Bn | 22.81 Bn | 5.10 Bn | 16.51% |
| 5 | United Therapeutics | 22.11 Bn | 19.45 Bn | 683.80 Mn | 42.23% |
| 6 | Viatris | 18.77 Bn | 17.88 Bn | 1.46 Bn | 0.17% |
| 7 | Neurocrine Biosciences | 15.62 Bn | 15.23 Bn | 935.80 Mn | 15.80% |
| 8 | Elanco Animal Health | 12.07 Bn | 11.54 Bn | 798.00 Mn | 18.13% |
| 9 | Dr Reddys Laboratories | 10.09 Bn | 9.93 Bn | - | - |
| 10 | Alkermes | 8.20 Bn | 7.54 Bn | 397.90 Mn | 3.70% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 38.61% |
| Mar 31, 2026 | 36.83% |
| Dec 31, 2025 | 35.23% |
| Sep 30, 2025 | 40.17% |
| Jun 30, 2025 | 40.33% |
| Mar 31, 2025 | 38.40% |
| Dec 31, 2024 | 34.40% |
| Sep 30, 2024 | 39.78% |
| Jun 30, 2024 | 38.08% |
| Mar 31, 2024 | 38.08% |
| Dec 31, 2023 | 33.35% |
| Sep 30, 2023 | 38.12% |
| Jun 30, 2023 | 39.59% |
| Mar 31, 2023 | 37.20% |
| Dec 31, 2022 | 35.69% |
| Sep 30, 2022 | 37.66% |
| Jun 30, 2022 | 37.13% |
| Mar 31, 2022 | 41.69% |
| Dec 31, 2021 | 32.13% |
| Sep 30, 2021 | 38.14% |