ZTS Zoetis margins

Relative Growth: Rel. Growth: 57

Relative Strength: Rel. Strength: 13

Relative Valuation: Rel. Valuation: 72

Relative Profitability: Rel. Profitability: 92

Gross margin

71.5%

Operating margin

36.9%

EBITDA margin

42%

Net margin

27.5%

Using the latest TTM figures, Zoetis shows a gross margin of 71.5%, an operating margin of 36.9%, an EBITDA margin of 42%, and a net margin of 27.5%. Gross margin showed the largest year-over-year gain at 0.2 percentage points, whereas operating margin showed the largest decline at 0.5 percentage points.

ZTS margin history

Gross, operating, EBITDA and net margin trends

Looking back over the last 3 years, Zoetis recorded average margins of 70.8% gross, 36.84% operating, 42.22% EBITDA, and 27.32% net. The current figures show gross, operating, and net margins are above their three-year averages, while EBITDA margin is below its three-year average.

ZTS margin expansion

Year-over-year margin changes in percentage points

Gross margin expanded by 0.2 percentage points, while operating margin contracted by 0.5 percentage points, EBITDA margin by 0.5 percentage points, and net margin by 0.1 percentage points.

Gross margin expansion

0.2pp

Operating margin expansion

-0.5pp

EBITDA margin expansion

-0.5pp

Net margin expansion

-0.1pp

ZTS Gross margin

Over the last 3 years, Zoetis's gross margin averaged 70.8%. Currently, Zoetis's current gross margin is 71.5%, which is 0.7 percentage points above its three-year average. During this period, gross margin reached a high of 71.8% in Dec 2025 and a low of 70% in Dec 2023.

ZTS Operating margin

Across the last 3 years, Zoetis's operating margin averaged 36.84%. The current operating margin stands at 36.9%, 0.1 percentage points above its three-year average. Operating margin was highest at 37.8% in Dec 2025 and lowest at 35.1% in Jun 2024.

ZTS EBITDA margin

Across the last 3 years, Zoetis's EBITDA margin averaged 42.22%. Against its three-year average, Zoetis's EBITDA margin is currently 42%, 0.2 percentage points below its three-year average. EBITDA margin was highest at 43.1% in Sep 2023 and lowest at 40.8% in Jun 2024.

ZTS Net margin

Over the last 3 years, Zoetis's net margin averaged 27.32%. The current net margin of 27.5% is 0.2 percentage points above its three-year average. During this period, net margin reached a high of 28.2% in Dec 2025 and a low of 26.3% in Jun 2024.

ZTS margin group comparison

Margins compared with peer-group, industry and sector averages

Zoetis's gross margin of 71.5% is higher than the Healthcare sector, the industry and its peers average. But in comparison with the Healthcare sector average of 68.5%, Zoetis's gross margin is only 4.4% higher.

ZTS margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Zoetis's gross margin?

As of Jun 30, 2026, ZTS has a gross margin of 71.5%.

What is Zoetis's operating margin?

As of Jun 30, 2026, ZTS has an operating margin of 36.9%.

What is Zoetis's EBITDA margin?

The current EBITDA margin for ZTS is 42% as of Jun 30, 2026.

What is Zoetis's net margin?

The current net margin for ZTS is 27.5% as of Jun 30, 2026.

What are the average margins of ZTS?

Zoetis's average margins over the last 3 years were 70.8% gross, 36.8% operating, 42.2% EBITDA, and 27.3% net.

What are the highest historical margins of ZTS?

Zoetis's highest recorded margins during the past 5 years were 71.8% gross in Dec 2025, 37.8% operating in Dec 2025, 43.1% EBITDA in Sep 2023, and 28.2% net in Dec 2025.

What are the lowest historical margins of ZTS?

In the last 5 years, the lowest margins reported by ZTS were 69.4% gross in Mar 2023, 34.5% operating in Sep 2021, 40.3% EBITDA in Sep 2021, and 25.6% net in Mar 2023.