Zoetis Inc. (ZTS)财务
NYSE · Healthcare · Drug Manufacturers - Specialty & Generic · 员工14,500人 · CEO Kristin C. Peck
- 股价
- $82.11 -7.95%
- 市值
- $339亿
- 企业价值
- $328亿
- 最近财报
- Q3 '26 2026-11-05提交
- 下次财报
- 2027-02-11 EPS预期 $1.29
营收(TTM)$95.1亿+1.2% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)37.0%-0.6 百分点 对比去年同期营业利润 $35.2亿
净利润(TTM)$24.9亿-6.2% 对比去年同期税后,含营业外收益
自由现金流(TTM)$22.8亿+1.7% 对比去年同期资本支出 $4.95亿
稀释EPS(TTM)$5.88-1.0% 对比去年同期最近4个季度之和
净现金$13.5亿+125.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $339亿 EV $328亿
- 营收
- $95.1亿 过去12个月
- 营收增速
- -2% FY2026年一致预期
- 净利润率
- 26.1% 净利润 / 营收,TTM
- P/E
- 13.9× 预期 13.2×(FY2026)
- P/S
- 3.6× 股价 / 营收,TTM
- EV / EBITDA
- 8.5× TTM
- 自由现金流
- $22.8亿 过去12个月
- 净利润
- $24.9亿 过去12个月
- 营收预期
- $92.7亿 FY2026年一致预期
- 盈利
- 2027-02-11 营收预期 $22.3亿
- 股息
- $2.12 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-11-05):营收超预期3.8%,EPS 超预期15.9%营收$23.9亿,预期$23亿(+3.8%);EPS $1.75,预期$1.51(+15.9%)。
- 营收增长放缓:同比-0.4%Q3 '26营收$23.9亿,此前四个季度的平均值为1.4%。
- 营业利润率37.0%(TTM),较去年同期-0.6 百分点营收增长1.2%,营业利润增长-0.4%。
- 税前利润的13.1%被营业外亏损吞噬税前利润$31.1亿,营业利润$35.2亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的5.2%(去年为7.2%)最近4个季度投入$4.95亿(同比-26.8%)。自由现金流$22.8亿,相当于净利润的91.6%。
- 股东回报$44.2亿 = 自由现金流的193.9%回购$37.5亿(去年为$17.3亿),股息$6.67亿,股权激励$1亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少7.1%Q3 '26稀释股数4.12亿,一年前为4.43亿。
- 净现金 $13.5亿现金 + 短期投资 $15.3亿,含租赁债务 $1.88亿;一年前净债务 $51.9亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $23.9亿 | $24亿 | -0.4% |
| 毛利率 | 70.8% | 70.2% | +0.6 百分点 |
| 营业利润 | $9.37亿 | $9.36亿 | +0.1% |
| 营业利润率 | 39.2% | 39.0% | +0.2 百分点 |
| 净利润 | $5.91亿 | $7.21亿 | -18.0% |
| 稀释EPS | $1.44 | $1.63 | -11.7% |
| 经营现金流 | $8.24亿 | $9.38亿 | -12.2% |
| 资本支出 | $1.07亿 | $1.33亿 | -19.5% |
| 自由现金流 | $7.17亿 | $8.05亿 | -10.9% |
| R&D | $1.74亿 | $1.7亿 | +2.4% |
| 股权激励费用 | $2700万 | $2200万 | +22.7% |
实际 vs 一致预期
2026-11-05| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $23.9亿 | $23亿 | +3.8% |
| EPS(一致预期口径) | $1.75 | $1.51 | +15.9% |
来自2026-11-05发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Horses | $7300万 | +10.6% | 3.1% | $63亿 | +5.0% | |
| Dogs and Cats | $14.9亿 | -5.9% | 64.0% | $45.7亿 | +727.7% | |
| Cattle | $4.39亿 | +10.0% | 18.8% | $16.4亿 | +10.8% | |
| Swine | $1.2亿 | +8.1% | 5.2% | $4.85亿 | +3.4% | |
| Poultry | $1.08亿 | +1.9% | 4.6% | $4.58亿 | +6.0% | |
| Fish | $9800万 | +25.6% | 4.2% | $3.28亿 | +21.5% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States Segment | $12.5亿 | -5.7% | 52.8% | $48.4亿 | -5.5% | |
| International Segment | $11.2亿 | +5.8% | 47.2% | $45.6亿 | +9.3% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $27.7亿
- 资本支出
- -$4.95亿
- 股票回购
- -$37.5亿
- 股息
- -$6.67亿
- 收购
- -$1.69亿
- 债务净发行
- $17.8亿
- 股权激励费用
- $1亿
- 自由现金流
- $22.8亿
- 股东回报 / FCF
- 193.9%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 13.9× | 35.8× | 20.9× – 56.9× |
| EV / EBITDA | 8.5× | 24.2× | 15.5× – 37.5× |
| EV / 营收 | 3.4× | 10.1× | 6.7× – 15.3× |
| 股价 / FCF | 14.9× | 46.3× | 24.4× – 66.7× |
| 股价 / 净资产 | 10.2× | 18.3× | 15.5× – 25.5× |
| FCF收益率 | 6.7% | 2.5% | 1.5% – 4.1% |
| 投入资本回报率 | 22.7% | 20.0% | 17.8% – 22.2% |
| 净资产收益率 | 76.4% | 54.4% | 44.8% – 80.2% |
分析师
一致目标价 $84.75 (+3.2%)
区间 $74.00 – $95.00 · 评级 Hold
强烈买入1
买入13
持有18
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $92.7亿 | -2.1% | $6.21 | +3.2% | 13.2× | 10 |
| FY2027 | $93.4亿 | +0.8% | $6.34 | +2.0% | 13.0× | 10 |
| FY2028 | $96.7亿 | +3.6% | $6.76 | +6.8% | 12.1× | 7 |
| FY2029 | $102亿 | +5.0% | $7.93 | +17.3% | 10.4× | 2 |
| FY2030 | $106亿 | +4.7% | $8.75 | +10.3% | 9.4× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Zoetis Inc.在近期10-Q / 10-K文件中标记的全部347项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $4.19亿 | $4.1亿 | +2.2% | $4.87亿 | $4.33亿 | +12.5% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $16.9亿 | $15.4亿 | +9.8% | $15.9亿 | $13.2亿 | +20.8% |
| Accounts Receivable, Allowance for Credit Loss, Current | $1400万 | $1800万 | -22.2% | $1600万 | $1800万 | -11.1% |
| Accrued Income Taxes, Noncurrent | $2.95亿 | $2.7亿 | +9.3% | $2.76亿 | $2.72亿 | +1.5% |
| Accrued Liabilities, Current | $8.52亿2025-12-31 | $7.46亿 | +14.2% | $8.52亿 | $7.46亿 | +14.2% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $31.4亿 | $28.7亿 | +9.2% | $29.3亿 | $26.4亿 | +11.0% |
| Accumulated Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Tax | $400万2025-12-31 | $200万 | +100.0% | $400万 | $200万 | +100.0% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$7.55亿 | -$8.18亿 | +7.7% | -$8.34亿 | -$9.4亿 | +11.3% |
| Additional Paid in Capital | $11.6亿 | $12.2亿 | -5.6% | $11亿 | $11.8亿 | -6.9% |
| AdjustmentToAdditionalPaidInCapitalConvertibleDebtInstrumentIssuedAtSubstantialPremium | – | – | – | -$1.45亿 | – | – |
| Advertising Expense | – | – | – | $3.08亿 | $3.02亿 | +2.0% |
| Amortization of Intangible Assets | $3900万 | $3900万 | 0.0% | $1.57亿 | $1.7亿 | -7.6% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $2600万 | $2200万 | +18.2% | $7300万 | $6500万 | +12.3% |
| Asset Impairment Charges | $9300万 | $900万 | +933.3% | $4700万 | $3100万 | +51.6% |
| Asset Retirement Obligations, Noncurrent | $2500万2025-12-31 | $2300万 | +8.7% | $2500万 | $2300万 | +8.7% |
| Assets | $151亿 | $152亿 | -0.5% | $155亿 | $142亿 | +8.6% |
| Assets, Current | $62.9亿 | $65.8亿 | -4.4% | $67.7亿 | $59.9亿 | +13.1% |
| Buildings and Improvements, Gross | $15.5亿2025-12-31 | $12.9亿 | +19.9% | $15.5亿 | $12.9亿 | +19.9% |
| Business Exit Costs | $100万 | $500万 | -80.0% | $700万 | $0 | – |
| Capital Expenditures Incurred but Not yet Paid | $0 | $0 | – | $400万 | $300万 | +33.3% |
| Capitalized Computer Software, Amortization | – | – | – | $4600万 | $6100万 | -24.6% |
| Capitalized Computer Software, Net | $1800万2025-12-31 | $1800万 | 0.0% | $1800万 | $1800万 | 0.0% |
| Cash and Cash Equivalents, at Carrying Value | $13.3亿 | $20.8亿 | -36.0% | $15.6亿2017-12-31 | $7.27亿 | +115.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $13.3亿 | $22.7亿 | -41.3% | $23.1亿 | $19.9亿 | +16.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$1.43亿 | $6.38亿 | -122.4% | $3.25亿 | -$5400万 | +701.9% |
| Commercial Paper | $0 | $0 | – | $0 | $0 | – |
| Common Stock, Dividends, Per Share, Cash Paid | – | – | – | $2.03 | $1.80 | +13.0% |
| Common Stock, Dividends, Per Share, Declared | $0.00 | $0.00 | – | – | – | – |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 60亿 | 60亿 | 0.0% | 60亿 | 60亿 | 0.0% |
| Common Stock, Shares, Issued | 5.02亿 | 5.02亿 | 0.0% | 5.02亿 | 5.02亿 | 0.0% |
| Common Stock, Shares, Outstanding | 4.07亿 | 4.41亿 | -7.7% | 4.25亿 | 4.48亿 | -5.3% |
| Common Stock, Value, Issued | $500万 | $500万 | 0.0% | $500万 | $500万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $0 | $0 | – | $0 | $1000万 | -100.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $6.32亿 | $7.43亿 | -14.9% | $27.8亿 | $23.9亿 | +16.5% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $6.32亿 | $7.43亿 | -14.9% | $27.8亿 | $24亿 | +16.0% |
| Construction in Progress, Gross | $13亿2025-12-31 | $13.5亿 | -4.3% | $13亿 | $13.5亿 | -4.3% |
| Contract with Customer, Liability | $1800万 | $1800万 | 0.0% | $1700万 | $1800万 | -5.6% |
| Contract with Customer, Liability, Revenue Recognized | $100万 | $600万 | -83.3% | $1100万 | $400万 | +175.0% |
| Cost of Goods and Services Sold | $6.98亿 | $6.97亿 | +0.1% | $26.7亿 | $27.2亿 | -1.9% |
| Current Federal Tax Expense (Benefit) | – | – | – | $2.23亿 | $6.45亿 | -65.4% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $3.27亿 | $2.65亿 | +23.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $5600万 | $6500万 | -13.8% |
| Debt Instrument, Unamortized Discount (Premium), Net | -$8100万 | -$6400万 | -26.6% | $9300万 | $5400万 | +72.2% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $1.16亿 | -$2.97亿 | +139.1% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$4900万 | $100万 | -5,000.0% |
| Deferred Income Tax Assets, Net | $6.08亿 | $5.87亿 | +3.6% | $6.37亿 | $5.4亿 | +18.0% |
| Deferred Income Tax Expense (Benefit) | -$1200万 | -$1600万 | +25.0% | -$5200万 | -$3.38亿 | +84.6% |
| Deferred Income Tax Liabilities, Net | $1.04亿 | $1.47亿 | -29.3% | $1.39亿 | $1.67亿 | -16.8% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $1400万 | -$4200万 | +133.3% |
| Deferred Tax Asset, Interest Carryforward | $1200万2025-12-31 | $300万 | +300.0% | $1200万 | $300万 | +300.0% |
| Deferred Tax Assets, Derivative Instruments | $5600万2025-12-31 | $0 | – | $5600万 | $0 | – |
| Deferred Tax Assets, Hedging Transactions | $4200万2025-12-31 | $0 | – | $4200万 | $0 | – |
| Deferred Tax Assets, in Process Research and Development | $4.1亿2025-12-31 | $3.01亿 | +36.2% | $4.1亿 | $3.01亿 | +36.2% |
| Deferred Tax Assets, Inventory | $2400万2025-12-31 | $2100万 | +14.3% | $2400万 | $2100万 | +14.3% |
| Deferred Tax Assets, Net | $4.98亿2025-12-31 | $3.73亿 | +33.5% | $4.98亿 | $3.73亿 | +33.5% |
| Deferred Tax Assets, Net of Valuation Allowance | $6.08亿 | $5.87亿 | +3.6% | – | – | – |
| Deferred Tax Assets, Operating Loss Carryforwards | $1.65亿2025-12-31 | $1.39亿 | +18.7% | $1.65亿 | $1.39亿 | +18.7% |
| Deferred Tax Assets, Other | $700万2025-12-31 | $0 | – | $700万 | $0 | – |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Benefits | $7300万2025-12-31 | $7400万 | -1.4% | $7300万 | $7400万 | -1.4% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-06