---
title: "Zoetis: Business Model & Revenue Engine"
description: "Zoetis revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/zoetis/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Zoetis: Business Model & Revenue Engine

## Direct Answer

Zoetis reports revenue across 2 business segments in its fiscal 2025 Form 10-K. United States is the largest, with $5.1 billion of revenue (54% of the total), followed by International at $4.3 billion (45%). 54% of revenue came from the United States.

## How Does Zoetis Make Money?

No single line supplies a majority of revenue: the largest, United States, is 54%, which spreads Zoetis's exposure across several demand drivers. Between fiscal 2024 and 2025, International grew fastest (+3.7%) and United States slowest (+0.5%), so the revenue mix tilts toward International while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $5.1 billion | $5.1 billion | 53.8% | 0.5% |
| International | $4.3 billion | $4.1 billion | 44.9% | 3.7% |

![Bar chart of Zoetis revenue by segment for fiscal 2025: United States 53.8%, International 44.9%.](https://www.getswoopr.com/images/charts/zoetis-business-model-segment-mix.webp)
*Zoetis revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Where Does Zoetis's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $5.1 billion | $5.1 billion | 53.8% | 0.5% |
| Other Developed Markets | $641 million | $564 million | 6.8% | 13.7% |
| Brazil | $393 million | $414 million | 4.2% | -5.1% |
| Australia | $329 million | $319 million | 3.5% | 3.1% |
| Canada | $290 million | $277 million | 3.1% | 4.7% |
| Germany | $236 million | $225 million | 2.5% | 4.9% |
| China | $227 million | $270 million | 2.4% | -15.9% |
| France | $165 million | $156 million | 1.7% | 5.8% |
| Mexico | $160 million | $169 million | 1.7% | -5.3% |
| Japan | $154 million | $147 million | 1.6% | 4.8% |
| Spain | $145 million | $130 million | 1.5% | 11.5% |
| Chile | $139 million | $123 million | 1.5% | 13.0% |
| Italy | $137 million | $129 million | 1.4% | 6.2% |

## What the Segment Figures Do Not Show

The rows above add up to 99% of Zoetis's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Zoetis reported in the segment note and revenue disclosures of its Form 10-K filed February 12, 2026 (accession 0001555280-26-000011), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Zoetis's business segments?

In its fiscal 2025 Form 10-K, Zoetis reports revenue for United States and International.

### Which part of Zoetis brings in the most revenue?

United States, with $5.1 billion of revenue in fiscal 2025, or 54% of the total.

### How much of Zoetis's revenue comes from outside the United States?

46% in fiscal 2025, by the geographic breakdown Zoetis reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: Zoetis Inc. Form 10-K filed February 12, 2026](https://www.sec.gov/Archives/edgar/data/1555280/000155528026000011/zts-20251231.htm)
- [SEC EDGAR: Zoetis Inc. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1555280&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [Zoetis company dossier](https://www.getswoopr.com/stocks/companies/zoetis/)
- [Zoetis financial metrics](https://www.getswoopr.com/stocks/companies/zoetis/metrics/)
- [Zoetis financial risk indicators](https://www.getswoopr.com/stocks/companies/zoetis/risks/)
- [Zoetis peer comparison](https://www.getswoopr.com/stocks/companies/zoetis/competitors/)
- [Zoetis business model and revenue mix](https://www.getswoopr.com/stocks/companies/zoetis/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).