Zoetis Inc (ZTS)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 3,554,000 | 3,365,000 | 3,188,000 | 2,593,000 | 2,310,000 |
| Revenue | US$ in thousands | 8,544,000 | 8,080,000 | 7,776,000 | 6,675,000 | 6,260,000 |
| Gross profit margin | 41.60% | 41.65% | 41.00% | 38.85% | 36.90% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $3,554,000K ÷ $8,544,000K
= 41.60%
The gross profit margin of Zoetis Inc has shown a generally increasing trend over the past five years, with fluctuations year over year. In 2023, the gross profit margin increased to 70.03%, compared to 69.63% in 2022 and 70.38% in 2021. This suggests that Zoetis Inc was able to generate more gross profit relative to its revenue in 2023 compared to the previous two years. The improvement in gross profit margin indicates better cost management and pricing strategies, potentially leading to increased profitability for the company. Overall, the upward trend in gross profit margin reflects positively on Zoetis Inc's operational efficiency and financial performance in recent years.
Peer comparison
Dec 31, 2023