ZTSZoetis

Health care · Pharmaceuticals · NYSE

Employees: 14,500
Headquarters: Parsippany, NJ
CEO: Kristin C. Peck
Next results: around Feb 11, 2027

RevenueFY2016–25 $9.5B+2.3% Highest in 10 years 10-K FY2025 · XBRL Net incomeFY2016–25 $2.7B+7.5% Highest in 10 years 10-K FY2025 · XBRL Free cash flowFY2016–25 $2.3B−0.7% FY2024: $2.3B 10-K FY2025 · XBRL

What changed

10-K filed Feb 12, 2026 against Feb 13, 2025

Area	What changed	Source
Risk factors	18 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Receivables growing faster than revenue	Receivables +20.8% vs revenue +2.3% (+18.5 pts)	10-K · XBRL
Accounting checks	10 other checks clear, 1 worth a look	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	3 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 12, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-13. Quoted as filed.

Our products generally receive regulatory approval based on data obtained in controlled clinical trials. After approval and launch, the products are used for longer periods of time by much larger numbers of animals worldwide, which may lead to identifying new safety or efficacy concerns. In addition, we or others may conduct…
10-K, Item 1A

All 18 new paragraphs →

Accounting checks

latest 10-K

10 of 11 clear 1 worth a look. Checks, not verdicts.

!
Receivables growing faster than revenueReceivables +20.8% vs revenue +2.3% (+18.5 pts)
✓
Cash from operations $2.9B vs net income $2.7B (FY ending 2025-12-31)
✓
Inventory +5.4% vs revenue +2.3% (+3.1 pts)
✓
Same auditor in both 10-Ks: KPMG LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
The same matters as last year: Evaluation of gross unrecognized tax benefits; Deductions from revenue related to the rebates accrual for the U.S. segment
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Nov 5, 20268-K Quarterly results 8-K item 2.02
Nov 5, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026
Oct 13, 20268-K Director or officer change, Regulation FD disclosure 8-K items 5.02, 7.01

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