Highlights

  • Q4 2025 revenue rose year over year on reported basis
  • International sales reflected timing effects from fiscal alignment changes
  • Regulatory approvals expanded long-acting OA pain therapy portfolio

For the fourth quarter of 2025, Zoetis (NYSE:ZTS) reported revenue of $2.4 billion, up 3% from the prior-year period, with organic operational growth of 4%. Net income reached $603 million, or $1.37 per diluted share, compared with the previous year’s quarter. Adjusted net income totaled $648 million, or $1.48 per diluted share, reflecting exclusions for purchase accounting, acquisition and divestiture-related costs, and certain significant items.

Full-year performance — Yearly trends across operations

For full-year 2025, revenue amounted to $9.5 billion, a 2% increase year over year, with organic operational growth of 6%. Reported net income was $2.7 billion, or $6.02 per diluted share. On an adjusted basis, net income was $2.8 billion, or $6.41 per diluted share, excluding the net impact of specified non-recurring items.

Regional performance — United States and International split

U.S. segment revenue in the fourth quarter was $1.2 billion, down 2% on a reported basis and flat operationally. Companion animal product sales edged lower, reflecting lower monoclonal antibody OA pain product sales, partly offset by parasiticides and dermatology franchises. Livestock product sales declined on a reported basis due to portfolio divestitures, while operationally they increased, supported by cattle and poultry biologics and supply timing.
International segment revenue was $1.1 billion, up 8% reported and 7% operationally. Growth reflected contributions from parasiticides, diagnostics, dermatology products, and livestock categories across cattle, fish, and poultry. Reported results included a temporary uplift from operational timing changes tied to fiscal alignment.

Fiscal year alignment — Timing effects on reported sales

Operational changes linked to the expected elimination of a one-month reporting lag accelerated certain International sales into Q4 2025, contributing an estimated 2.5% to 3.5% to reported International revenue. The company indicated this timing effect is not expected to repeat at the end of 2026. Additional changes included adjustments to annual price increase timing and order processing between December 2025 and early 2026.

Product pipeline and approvals — Regulatory milestones and expansions

During 2025, approvals supported lifecycle extensions and geographic expansion across multiple franchises. Regulatory clearances in Canada and the EU were received for long-acting OA pain therapies for dogs and cats, alongside approvals for parasiticides and dermatology products. Conditional licenses were also granted for certain vaccines and treatments addressing emerging diseases. The company reported approximately 185 geographic expansion, lifecycle, and new product innovations during the year.

Diagnostics and portfolio updates — Expanding laboratory capabilities

In November, Zoetis completed the acquisition of Veterinary Pathology Group in the UK and Ireland, adding multi-specialty diagnostic laboratory capabilities. The transaction broadened diagnostic services coverage and expanded the company’s laboratory footprint in those markets.

2026 financial guidance — Ranges provided by management

For 2026, guidance includes revenue of $9.825 billion to $10.025 billion, reported net income of $2.825 billion to $2.875 billion, and adjusted net income of $2.975 billion to $3.025 billion. Reported diluted EPS is projected at $6.65 to $6.75, with adjusted diluted EPS of $7.00 to $7.10.

Latest closing price (as of February 12, 2026): $125.64