Stock Analysis on Net

Zoetis Inc. (NYSE:ZTS)

This company has been moved to the archive! The financial data has not been updated since May 2, 2024.

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Zoetis Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Turnover Ratios
Inventory turnover 0.99 1.00 0.91 0.91 0.96 1.05 1.04 1.08 1.13 1.20 1.23 1.26 1.26 1.26 1.22 1.21 1.31 1.41
Receivables turnover 6.75 6.55 6.66 6.22 6.82 6.65 6.73 6.19 6.46 6.86 6.61 6.34 6.23 6.59 6.46 6.44 6.57 5.76
Payables turnover 6.46 6.23 6.41 5.29 5.83 6.06 6.44 5.53 5.78 5.28 5.95 6.14 6.21 4.50 5.56 5.73 7.29 6.62
Working capital turnover 1.96 1.92 1.81 1.86 1.86 1.86 2.18 2.22 2.07 1.51 1.46 1.50 1.48 1.50 1.50 1.42 2.08 2.13
Average No. Days
Average inventory processing period 370 365 403 402 378 349 350 338 323 305 297 291 289 289 299 301 280 258
Add: Average receivable collection period 54 56 55 59 53 55 54 59 57 53 55 58 59 55 56 57 56 63
Operating cycle 424 421 458 461 431 404 404 397 380 358 352 349 348 344 355 358 336 321
Less: Average payables payment period 57 59 57 69 63 60 57 66 63 69 61 59 59 81 66 64 50 55
Cash conversion cycle 367 362 401 392 368 344 347 331 317 289 291 290 289 263 289 294 286 266

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Zoetis Inc. inventory turnover ratio improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024.
Receivables turnover An activity ratio equal to revenue divided by receivables. Zoetis Inc. receivables turnover ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 exceeding Q3 2023 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Zoetis Inc. payables turnover ratio decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Zoetis Inc. working capital turnover ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Zoetis Inc. number of days of inventory outstanding improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Zoetis Inc. number of days of receivables outstanding deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 exceeding Q3 2023 level.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Zoetis Inc. operating cycle improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Zoetis Inc. cash conversion cycle improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024.

Inventory Turnover

Zoetis Inc., inventory turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Cost of sales 643 728 638 607 588 653 607 625 569 600 586 568 549 601 546 451 459 530 479 465 518
Inventories 2,651 2,564 2,744 2,701 2,563 2,345 2,303 2,205 2,057 1,923 1,875 1,802 1,700 1,628 1,626 1,584 1,481 1,410 1,439 1,404 1,361
Short-term Activity Ratio
Inventory turnover1 0.99 1.00 0.91 0.91 0.96 1.05 1.04 1.08 1.13 1.20 1.23 1.26 1.26 1.26 1.22 1.21 1.31 1.41
Benchmarks
Inventory Turnover, Competitors2
AbbVie Inc. 4.83 4.98 4.74 4.30 4.53 4.87 5.54 4.99 4.96 5.58 5.76 5.45 5.40 4.65 3.66 2.36 4.17 4.10
Amgen Inc. 1.14 0.89 1.41 1.38 1.31 1.30 1.34 1.40 1.48 1.58 1.53 1.53 1.53 1.58 1.48 1.38 1.31 1.22
Bristol-Myers Squibb Co. 3.70 4.02 4.33 4.39 3.93 4.33 4.77 4.59 4.55 4.74 4.85 5.01 5.61 5.68 5.83 4.46 3.50 1.88
Danaher Corp. 3.73 3.80 3.53 3.58 3.50 4.03 3.80 3.71 3.87 4.16 4.06 4.28 4.34 4.28 3.79 3.26 3.09 4.87
Eli Lilly & Co. 1.17 1.23 1.40 1.37 1.36 1.54 1.86 1.79 1.93 1.88 1.79 1.80 1.68 1.38 1.42 1.48 1.55 1.48
Gilead Sciences Inc. 3.59 3.64 3.49 3.45 3.57 3.75 4.71 4.50 4.50 4.08 3.21 2.99 2.79 2.72 4.82 4.52 4.75 5.07
Johnson & Johnson 2.32 2.37 2.46 2.23 2.36 2.49 2.68 2.69 2.77 2.87 2.86 2.91 2.86 3.04 2.89 2.93 3.16 3.05
Merck & Co. Inc. 2.42 2.54 2.63 2.66 2.72 2.95 3.10 3.06 2.74 2.29 2.73 2.79 2.40 2.45 2.22 2.33 2.46 2.36
Moderna Inc. 13.55 23.23 11.67 6.35 7.09 5.71 2.14 2.12 1.77 1.82 1.73 1.48 0.41 0.17
Pfizer Inc. 2.15 2.45 2.65 2.31 3.07 3.82 3.62 3.66 3.67 3.40 2.78 1.80 1.28 1.08 0.90 1.05 1.15 1.23
Regeneron Pharmaceuticals Inc. 0.66 0.70 0.72 0.69 0.67 0.65 0.83 0.96 1.27 1.25 0.88 0.82 0.56 0.58 0.55 0.57 0.55 0.55
Thermo Fisher Scientific Inc. 4.93 5.06 4.83 4.64 4.62 4.60 4.29 4.03 3.87 3.88 3.90 4.03 4.01 4.02 3.92 3.93 4.14 4.22

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Inventory turnover = (Cost of salesQ1 2024 + Cost of salesQ4 2023 + Cost of salesQ3 2023 + Cost of salesQ2 2023) ÷ Inventories
= (643 + 728 + 638 + 607) ÷ 2,651 = 0.99

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Zoetis Inc. inventory turnover ratio improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024.

Receivables Turnover

Zoetis Inc., receivables turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Revenue 2,190 2,213 2,151 2,180 2,000 2,040 2,002 2,052 1,986 1,967 1,990 1,948 1,871 1,807 1,786 1,548 1,534 1,674 1,584 1,547 1,455
Accounts receivable, less allowance for doubtful accounts 1,293 1,304 1,257 1,322 1,186 1,215 1,189 1,291 1,222 1,133 1,152 1,170 1,125 1,013 1,012 984 965 1,086 1,030 994 970
Short-term Activity Ratio
Receivables turnover1 6.75 6.55 6.66 6.22 6.82 6.65 6.73 6.19 6.46 6.86 6.61 6.34 6.23 6.59 6.46 6.44 6.57 5.76
Benchmarks
Receivables Turnover, Competitors2
AbbVie Inc. 4.55 4.87 4.83 4.88 4.95 5.16 5.38 5.10 5.29 5.63 5.94 5.42 5.24 5.19 4.83 4.34 5.35 6.13
Amgen Inc. 4.16 3.70 4.17 4.34 4.34 4.46 4.60 4.62 4.81 4.96 5.11 5.39 5.41 5.36 5.81 4.31 4.55 5.47
Danaher Corp. 7.02 6.09 6.15 6.64 6.89 6.40 7.09 6.81 6.87 6.36 6.69 6.51 6.28 5.51 5.83 5.59 5.25 5.61
Eli Lilly & Co. 4.56 3.75 3.93 3.93 3.68 4.14 4.35 4.57 4.64 4.24 4.69 4.58 4.56 4.18 4.75 4.75 4.52 4.91
Gilead Sciences Inc. 5.84 5.78 5.68 6.43 6.43 5.65 6.16 6.60 7.18 6.01 5.95 6.34 6.43 4.98 5.83 6.84 5.73 6.18
Johnson & Johnson 5.73 5.73 5.91 5.36 5.65 5.88 6.04 5.92 6.08 6.14 6.13 6.00 5.64 6.08 5.55 5.50 5.56 5.67
Merck & Co. Inc. 5.40 5.81 5.71 5.29 5.56 6.27 6.22 5.93 5.49 5.28 5.56 6.00 5.65 6.11 5.62 6.23 5.88 6.91
Moderna Inc. 36.57 7.48 4.68 43.53 12.88 13.31 7.61 8.25 6.89 5.57 3.48 3.03 0.60 0.14 0.00 0.00 0.00 0.00
Pfizer Inc. 5.09 5.33 6.25 7.66 7.57 9.16 6.21 6.68 6.99 7.08 5.81 5.23 4.70 5.28 4.29 4.96 4.93 5.93
Regeneron Pharmaceuticals Inc. 2.51 2.31 2.35 2.47 2.42 2.28 2.47 2.76 3.41 2.66 2.48 1.77 2.20 2.07 2.04 2.84 2.72 2.94
Thermo Fisher Scientific Inc. 5.36 5.21 5.19 5.43 5.53 5.53 5.76 5.53 5.21 4.92 7.03 6.99 6.46 5.61 5.49 5.86 5.69 5.87

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Receivables turnover = (RevenueQ1 2024 + RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023) ÷ Accounts receivable, less allowance for doubtful accounts
= (2,190 + 2,213 + 2,151 + 2,180) ÷ 1,293 = 6.75

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Zoetis Inc. receivables turnover ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 exceeding Q3 2023 level.

Payables Turnover

Zoetis Inc., payables turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Cost of sales 643 728 638 607 588 653 607 625 569 600 586 568 549 601 546 451 459 530 479 465 518
Accounts payable 405 411 388 464 424 405 373 430 402 436 387 369 346 457 357 335 265 301 284 290 235
Short-term Activity Ratio
Payables turnover1 6.46 6.23 6.41 5.29 5.83 6.06 6.44 5.53 5.78 5.28 5.95 6.14 6.21 4.50 5.56 5.73 7.29 6.62
Benchmarks
Payables Turnover, Competitors2
Amgen Inc. 6.10 5.32 5.22 5.67 4.97 4.08 5.30 5.09 4.65 4.72 5.41 4.92 4.40 4.33 5.01 4.60 3.60 3.18
Bristol-Myers Squibb Co. 3.12 3.28 3.75 3.38 3.20 3.33 3.82 3.41 3.25 3.37 3.89 2.97 3.69 4.34 4.65 3.73 3.23 3.30
Danaher Corp. 5.88 5.58 5.63 5.82 5.68 5.45 5.61 5.00 5.04 4.48 5.20 5.54 5.29 4.79 5.46 5.28 4.55 5.23
Eli Lilly & Co. 2.88 2.73 2.81 2.65 3.07 3.43 4.24 4.21 5.24 4.38 4.46 4.30 3.75 3.41 3.53 3.92 3.97 3.36
Gilead Sciences Inc. 10.69 11.81 9.90 9.06 8.99 6.25 11.22 11.89 11.43 9.36 9.18 8.70 8.71 5.42 9.22 8.93 7.94 6.56
Johnson & Johnson 3.23 2.76 3.29 2.75 3.05 2.66 3.08 3.15 3.26 2.70 3.32 3.38 3.34 2.99 3.94 4.09 3.78 3.23
Merck & Co. Inc. 4.48 4.11 4.59 4.58 4.34 4.08 5.16 4.86 4.25 2.96 4.54 3.93 3.81 3.37 3.64 4.10 4.02 3.78
Moderna Inc. 21.84 9.03 11.50 14.65 13.34 11.12 13.48 22.50 17.29 8.67 19.23 12.35 25.12 0.43 0.00 0.00 0.00 0.00
Pfizer Inc. 4.19 3.72 5.07 3.92 4.78 5.04 5.49 6.17 6.66 5.53 5.11 3.72 2.68 2.02 2.02 2.32 2.45 2.42
Regeneron Pharmaceuticals Inc. 2.67 2.99 3.43 3.14 2.69 2.65 3.74 4.00 5.39 4.32 4.23 3.42 2.23 2.36 2.24 2.48 2.36 1.87
Thermo Fisher Scientific Inc. 9.91 8.97 10.41 10.82 9.35 7.67 9.93 8.84 7.96 6.83 8.31 8.88 8.12 7.45 8.82 10.35 8.93 7.40

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Payables turnover = (Cost of salesQ1 2024 + Cost of salesQ4 2023 + Cost of salesQ3 2023 + Cost of salesQ2 2023) ÷ Accounts payable
= (643 + 728 + 638 + 607) ÷ 405 = 6.46

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Zoetis Inc. payables turnover ratio decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level.

Working Capital Turnover

Zoetis Inc., working capital turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Current assets 6,359 6,343 6,222 6,183 6,269 7,506 6,551 6,651 6,837 6,930 6,682 7,048 6,794 6,611 6,757 6,285 4,772 4,748 4,618 4,484 4,379
Less: Current liabilities 1,909 1,889 1,608 1,769 1,915 3,167 2,880 3,051 3,034 1,797 1,471 2,091 2,066 2,170 2,400 1,811 1,721 1,806 1,052 1,075 1,082
Working capital 4,450 4,454 4,614 4,414 4,354 4,339 3,671 3,600 3,803 5,133 5,211 4,957 4,728 4,441 4,357 4,474 3,051 2,942 3,566 3,409 3,297
 
Revenue 2,190 2,213 2,151 2,180 2,000 2,040 2,002 2,052 1,986 1,967 1,990 1,948 1,871 1,807 1,786 1,548 1,534 1,674 1,584 1,547 1,455
Short-term Activity Ratio
Working capital turnover1 1.96 1.92 1.81 1.86 1.86 1.86 2.18 2.22 2.07 1.51 1.46 1.50 1.48 1.50 1.50 1.42 2.08 2.13
Benchmarks
Working Capital Turnover, Competitors2
AbbVie Inc. 130.12 0.97 0.98
Amgen Inc. 3.39 2.25 0.81 0.84 0.82 3.82 2.52 3.67 4.34 3.37 2.55 5.35 2.84 2.55 1.87 1.87 3.27 3.96
Bristol-Myers Squibb Co. 15.56 4.60 10.47 5.53 5.55 8.30 5.75 4.92 6.24 3.95 4.43 4.24 4.25 3.72 2.77 3.09 2.38 2.28
Danaher Corp. 3.60 4.22 2.18 3.08 3.81 4.20 5.00 5.43 5.91 8.40 7.98 3.12 3.45 3.48 3.14 2.80 6.74 0.87
Eli Lilly & Co. 5.45 31.79 12.21 5.77 31.84 14.71 19.45 8.19 8.33 6.73 12.14 5.21 4.93 5.45 8.85 16.68 11.54
Gilead Sciences Inc. 26.58 5.61 6.74 84.15 9.14 8.42 8.56 6.87 6.68 8.54 7.25 7.09 7.06 5.30 1.07 1.55 1.24 1.08
Johnson & Johnson 10.35 11.81 9.37 14.06 23.02 4.88 5.02 5.57 5.95 5.97 5.93 7.26 9.44 4.32 8.83 7.85 8.81
Merck & Co. Inc. 9.68 9.29 6.69 8.86 5.63 5.16 5.58 6.39 6.09 7.62 6.51 6.97 84.97 109.83 7.67 6.59 17.87 8.90
Moderna Inc. 0.69 0.91 1.36 1.35 1.66 2.17 2.74 3.29 3.07 2.55 3.15 2.88 0.59 0.10 0.00 0.00 0.00 0.00
Pfizer Inc. 29.17 1.62 2.03 6.89 11.00 3.83 5.05 6.10 4.78 4.29 4.21 3.60 4.58 3.16 3.31 57.45
Regeneron Pharmaceuticals Inc. 0.86 0.82 0.87 0.92 0.90 0.96 1.09 1.14 1.46 1.59 1.35 1.29 1.35 1.20 1.22 1.92 1.21 1.41
Thermo Fisher Scientific Inc. 4.38 4.05 4.86 7.40 10.13 5.46 5.40 6.03 6.13 5.87 2.30 3.10 3.36 2.76 2.37 2.69 3.54 4.48

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Working capital turnover = (RevenueQ1 2024 + RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023) ÷ Working capital
= (2,190 + 2,213 + 2,151 + 2,180) ÷ 4,450 = 1.96

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Zoetis Inc. working capital turnover ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Average Inventory Processing Period

Zoetis Inc., average inventory processing period calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Inventory turnover 0.99 1.00 0.91 0.91 0.96 1.05 1.04 1.08 1.13 1.20 1.23 1.26 1.26 1.26 1.22 1.21 1.31 1.41
Short-term Activity Ratio (no. days)
Average inventory processing period1 370 365 403 402 378 349 350 338 323 305 297 291 289 289 299 301 280 258
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
AbbVie Inc. 75 73 77 85 81 75 66 73 74 65 63 67 68 79 100 155 88 89
Amgen Inc. 321 411 259 265 279 281 272 260 247 231 239 239 239 231 247 265 279 300
Bristol-Myers Squibb Co. 99 91 84 83 93 84 76 79 80 77 75 73 65 64 63 82 104 194
Danaher Corp. 98 96 104 102 104 91 96 98 94 88 90 85 84 85 96 112 118 75
Eli Lilly & Co. 312 298 261 267 268 237 196 204 189 194 204 203 217 265 257 247 236 247
Gilead Sciences Inc. 102 100 105 106 102 97 78 81 81 89 114 122 131 134 76 81 77 72
Johnson & Johnson 158 154 149 164 155 147 136 136 132 127 128 125 128 120 126 124 116 119
Merck & Co. Inc. 151 144 139 137 134 124 118 119 133 159 134 131 152 149 164 156 148 155
Moderna Inc. 27 16 31 57 51 64 170 172 206 201 211 247 897 2,141
Pfizer Inc. 170 149 138 158 119 95 101 100 99 107 131 203 284 338 405 348 316 296
Regeneron Pharmaceuticals Inc. 553 519 508 532 549 562 440 379 287 292 415 445 653 625 664 635 659 661
Thermo Fisher Scientific Inc. 74 72 76 79 79 79 85 91 94 94 94 91 91 91 93 93 88 87

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 0.99 = 370

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Zoetis Inc. number of days of inventory outstanding improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024.

Average Receivable Collection Period

Zoetis Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Receivables turnover 6.75 6.55 6.66 6.22 6.82 6.65 6.73 6.19 6.46 6.86 6.61 6.34 6.23 6.59 6.46 6.44 6.57 5.76
Short-term Activity Ratio (no. days)
Average receivable collection period1 54 56 55 59 53 55 54 59 57 53 55 58 59 55 56 57 56 63
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
AbbVie Inc. 80 75 76 75 74 71 68 72 69 65 61 67 70 70 76 84 68 60
Amgen Inc. 88 99 88 84 84 82 79 79 76 74 71 68 67 68 63 85 80 67
Danaher Corp. 52 60 59 55 53 57 51 54 53 57 55 56 58 66 63 65 69 65
Eli Lilly & Co. 80 97 93 93 99 88 84 80 79 86 78 80 80 87 77 77 81 74
Gilead Sciences Inc. 62 63 64 57 57 65 59 55 51 61 61 58 57 73 63 53 64 59
Johnson & Johnson 64 64 62 68 65 62 60 62 60 59 60 61 65 60 66 66 66 64
Merck & Co. Inc. 68 63 64 69 66 58 59 62 66 69 66 61 65 60 65 59 62 53
Moderna Inc. 10 49 78 8 28 27 48 44 53 66 105 120 606 2,539
Pfizer Inc. 72 69 58 48 48 40 59 55 52 52 63 70 78 69 85 74 74 62
Regeneron Pharmaceuticals Inc. 146 158 156 148 151 160 148 132 107 137 147 206 166 177 179 128 134 124
Thermo Fisher Scientific Inc. 68 70 70 67 66 66 63 66 70 74 52 52 56 65 66 62 64 62

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 6.75 = 54

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Zoetis Inc. number of days of receivables outstanding deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 exceeding Q3 2023 level.

Operating Cycle

Zoetis Inc., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Average inventory processing period 370 365 403 402 378 349 350 338 323 305 297 291 289 289 299 301 280 258
Average receivable collection period 54 56 55 59 53 55 54 59 57 53 55 58 59 55 56 57 56 63
Short-term Activity Ratio
Operating cycle1 424 421 458 461 431 404 404 397 380 358 352 349 348 344 355 358 336 321
Benchmarks
Operating Cycle, Competitors2
AbbVie Inc. 155 148 153 160 155 146 134 145 143 130 124 134 138 149 176 239 156 149
Amgen Inc. 409 510 347 349 363 363 351 339 323 305 310 307 306 299 310 350 359 367
Danaher Corp. 150 156 163 157 157 148 147 152 147 145 145 141 142 151 159 177 187 140
Eli Lilly & Co. 392 395 354 360 367 325 280 284 268 280 282 283 297 352 334 324 317 321
Gilead Sciences Inc. 164 163 169 163 159 162 137 136 132 150 175 180 188 207 139 134 141 131
Johnson & Johnson 222 218 211 232 220 209 196 198 192 186 188 186 193 180 192 190 182 183
Merck & Co. Inc. 219 207 203 206 200 182 177 181 199 228 200 192 217 209 229 215 210 208
Moderna Inc. 37 65 109 65 79 91 218 216 259 267 316 367 1,503 4,680
Pfizer Inc. 242 218 196 206 167 135 160 155 151 159 194 273 362 407 490 422 390 358
Regeneron Pharmaceuticals Inc. 699 677 664 680 700 722 588 511 394 429 562 651 819 802 843 763 793 785
Thermo Fisher Scientific Inc. 142 142 146 146 145 145 148 157 164 168 146 143 147 156 159 155 152 149

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 370 + 54 = 424

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Zoetis Inc. operating cycle improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024.

Average Payables Payment Period

Zoetis Inc., average payables payment period calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Payables turnover 6.46 6.23 6.41 5.29 5.83 6.06 6.44 5.53 5.78 5.28 5.95 6.14 6.21 4.50 5.56 5.73 7.29 6.62
Short-term Activity Ratio (no. days)
Average payables payment period1 57 59 57 69 63 60 57 66 63 69 61 59 59 81 66 64 50 55
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Amgen Inc. 60 69 70 64 73 90 69 72 78 77 67 74 83 84 73 79 101 115
Bristol-Myers Squibb Co. 117 111 97 108 114 109 96 107 112 108 94 123 99 84 78 98 113 110
Danaher Corp. 62 65 65 63 64 67 65 73 72 82 70 66 69 76 67 69 80 70
Eli Lilly & Co. 127 134 130 138 119 106 86 87 70 83 82 85 97 107 103 93 92 109
Gilead Sciences Inc. 34 31 37 40 41 58 33 31 32 39 40 42 42 67 40 41 46 56
Johnson & Johnson 113 132 111 133 120 137 118 116 112 135 110 108 109 122 93 89 97 113
Merck & Co. Inc. 81 89 80 80 84 89 71 75 86 123 80 93 96 108 100 89 91 97
Moderna Inc. 17 40 32 25 27 33 27 16 21 42 19 30 15 845
Pfizer Inc. 87 98 72 93 76 72 66 59 55 66 71 98 136 181 180 157 149 151
Regeneron Pharmaceuticals Inc. 137 122 106 116 136 138 98 91 68 84 86 107 164 155 163 147 155 195
Thermo Fisher Scientific Inc. 37 41 35 34 39 48 37 41 46 53 44 41 45 49 41 35 41 49

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 6.46 = 57

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.

Cash Conversion Cycle

Zoetis Inc., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Average inventory processing period 370 365 403 402 378 349 350 338 323 305 297 291 289 289 299 301 280 258
Average receivable collection period 54 56 55 59 53 55 54 59 57 53 55 58 59 55 56 57 56 63
Average payables payment period 57 59 57 69 63 60 57 66 63 69 61 59 59 81 66 64 50 55
Short-term Activity Ratio
Cash conversion cycle1 367 362 401 392 368 344 347 331 317 289 291 290 289 263 289 294 286 266
Benchmarks
Cash Conversion Cycle, Competitors2
Amgen Inc. 349 441 277 285 290 273 282 267 245 228 243 233 223 215 237 271 258 252
Danaher Corp. 88 91 98 94 93 81 82 79 75 63 75 75 73 75 92 108 107 70
Eli Lilly & Co. 265 261 224 222 248 219 194 197 198 197 200 198 200 245 231 231 225 212
Gilead Sciences Inc. 130 132 132 123 118 104 104 105 100 111 135 138 146 140 99 93 95 75
Johnson & Johnson 109 86 100 99 100 72 78 82 80 51 78 78 84 58 99 101 85 70
Merck & Co. Inc. 138 118 123 126 116 93 106 106 113 105 120 99 121 101 129 126 119 111
Moderna Inc. 20 25 77 40 52 58 191 200 238 225 297 337 1,488 3,835
Pfizer Inc. 155 120 124 113 91 63 94 96 96 93 123 175 226 226 310 265 241 207
Regeneron Pharmaceuticals Inc. 562 555 558 564 564 584 490 420 326 345 476 544 655 647 680 616 638 590
Thermo Fisher Scientific Inc. 105 101 111 112 106 97 111 116 118 115 102 102 102 107 118 120 111 100

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 370 + 5457 = 367

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Zoetis Inc. cash conversion cycle improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024.