Zoetis Inc (ZTS)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	6,564,000	6,552,000	6,555,000	6,559,000	6,552,000	5,210,000	5,221,000	5,228,000	6,592,000	6,592,000	6,592,000	6,587,000	6,595,000	6,595,000	7,194,000	5,963,000	5,947,000	6,447,000	6,446,000	6,444,000
Total assets	US$ in thousands	14,300,000	14,106,000	13,749,000	13,754,000	14,925,000	13,674,000	13,770,000	13,860,000	13,900,000	13,705,000	14,069,000	13,796,000	13,600,000	13,725,000	13,069,000	11,528,000	11,545,000	11,272,000	10,986,000	10,883,000
Debt-to-assets ratio		0.46	0.46	0.48	0.48	0.44	0.38	0.38	0.38	0.47	0.48	0.47	0.48	0.48	0.48	0.55	0.52	0.52	0.57	0.59	0.59

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $6,564,000K ÷ $14,300,000K
= 0.46

Zoetis Inc's debt-to-assets ratio has shown consistency in the most recent quarters, ranging between 0.46 and 0.48. A lower debt-to-assets ratio indicates a lower proportion of debt relative to total assets, suggesting a stronger financial position and less financial risk.

The ratio has gradually decreased from 0.53 in Q4 2022 to 0.46 in Q4 2023, reflecting a potential reduction in debt relative to the company's assets over the period. This trend indicates improved financial stability and management efficiency.

Overall, Zoetis Inc's debt-to-assets ratio demonstrates a controlled level of debt utilization and effective asset management, which may contribute to the company's financial health and long-term sustainability.