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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and Zoetis (ZTS). Click either name above to swap in a different company.
Zoetis is the larger business by last-quarter revenue ($2.4B vs $44.9M, roughly 53.2× AbCellera Biologics Inc.). Zoetis runs the higher net margin — 25.3% vs -19.9%, a 45.2% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs 3.0%). Zoetis produced more free cash flow last quarter ($732.0M vs $-44.6M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs 4.4%).
AbCellera Biologics Inc. is a Vancouver, British Columbia-based biotechnology company that discovers and develops antibody therapeutics. The company is best known for its leading role in the Pandemic Prevention Platform, a project of DARPA's Biological Technologies Office. AbCellera utilizes a proprietary technology platform, which they claim can develop "medical countermeasures within 60 days." Its platform for single-cell screening was initially developed at the University of British Columbia.
Zoetis Inc. (/zō-EH-tis/) is an American drug company, the world's largest producer of medicine and vaccinations for pets and livestock. The company was a subsidiary of Pfizer, the world's largest drug maker, but with Pfizer's spinoff of its 83% interest in the firm it is now a completely independent company. The company directly markets its products in approximately 45 countries, and sells them in more than 100 countries. Operations outside the United States accounted for 50% of the total re...
ABCL vs ZTS — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $2.4B |
| Net Profit | $-8.9M | $603.0M |
| Gross Margin | — | 70.2% |
| Operating Margin | -63.7% | 31.9% |
| Net Margin | -19.9% | 25.3% |
| Revenue YoY | 788.4% | 3.0% |
| Net Profit YoY | 73.9% | 3.8% |
| EPS (diluted) | $-0.03 | $1.37 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $44.9M | $2.4B | ||
| Q3 25 | $9.0M | $2.4B | ||
| Q2 25 | $17.1M | $2.5B | ||
| Q1 25 | $4.2M | $2.2B | ||
| Q4 24 | $5.0M | $2.3B | ||
| Q3 24 | $6.5M | $2.4B | ||
| Q2 24 | $7.3M | $2.4B | ||
| Q1 24 | $10.0M | $2.2B |
| Q4 25 | $-8.9M | $603.0M | ||
| Q3 25 | $-57.1M | $721.0M | ||
| Q2 25 | $-34.7M | $718.0M | ||
| Q1 25 | $-45.6M | $631.0M | ||
| Q4 24 | $-34.2M | $581.0M | ||
| Q3 24 | $-51.1M | $682.0M | ||
| Q2 24 | $-36.9M | $624.0M | ||
| Q1 24 | $-40.6M | $599.0M |
| Q4 25 | — | 70.2% | ||
| Q3 25 | — | 71.5% | ||
| Q2 25 | — | 73.6% | ||
| Q1 25 | — | 72.0% | ||
| Q4 24 | — | 69.5% | ||
| Q3 24 | — | 70.6% | ||
| Q2 24 | — | 71.7% | ||
| Q1 24 | — | 70.6% |
| Q4 25 | -63.7% | 31.9% | ||
| Q3 25 | -851.8% | 37.0% | ||
| Q2 25 | -290.2% | 36.7% | ||
| Q1 25 | -1479.6% | 36.5% | ||
| Q4 24 | -1441.0% | 31.6% | ||
| Q3 24 | -1439.4% | 36.6% | ||
| Q2 24 | -1276.2% | 33.0% | ||
| Q1 24 | -551.5% | 34.1% |
| Q4 25 | -19.9% | 25.3% | ||
| Q3 25 | -637.8% | 30.0% | ||
| Q2 25 | -203.3% | 29.2% | ||
| Q1 25 | -1077.2% | 28.4% | ||
| Q4 24 | -677.6% | 25.1% | ||
| Q3 24 | -785.4% | 28.6% | ||
| Q2 24 | -504.3% | 26.4% | ||
| Q1 24 | -408.0% | 27.4% |
| Q4 25 | $-0.03 | $1.37 | ||
| Q3 25 | $-0.19 | $1.63 | ||
| Q2 25 | $-0.12 | $1.61 | ||
| Q1 25 | $-0.15 | $1.41 | ||
| Q4 24 | $-0.11 | $1.29 | ||
| Q3 24 | $-0.17 | $1.50 | ||
| Q2 24 | $-0.13 | $1.37 | ||
| Q1 24 | $-0.14 | $1.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $128.5M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $966.9M | $3.3B |
| Total Assets | $1.4B | $15.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | — | ||
| Q3 25 | $83.2M | $2.1B | ||
| Q2 25 | $92.4M | $1.4B | ||
| Q1 25 | $159.3M | $1.7B | ||
| Q4 24 | $156.3M | $2.0B | ||
| Q3 24 | $126.6M | $1.7B | ||
| Q2 24 | $148.3M | $1.6B | ||
| Q1 24 | $123.6M | $2.0B |
| Q4 25 | $966.9M | $3.3B | ||
| Q3 25 | $964.0M | $5.4B | ||
| Q2 25 | $1.0B | $5.0B | ||
| Q1 25 | $1.0B | $4.7B | ||
| Q4 24 | $1.1B | $4.8B | ||
| Q3 24 | $1.1B | $5.2B | ||
| Q2 24 | $1.1B | $5.0B | ||
| Q1 24 | $1.1B | $5.1B |
| Q4 25 | $1.4B | $15.5B | ||
| Q3 25 | $1.4B | $15.2B | ||
| Q2 25 | $1.4B | $14.5B | ||
| Q1 25 | $1.3B | $14.1B | ||
| Q4 24 | $1.4B | $14.2B | ||
| Q3 24 | $1.4B | $14.4B | ||
| Q2 24 | $1.4B | $14.2B | ||
| Q1 24 | $1.5B | $14.3B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-34.7M | $893.0M |
| Free Cash FlowOCF − Capex | $-44.6M | $732.0M |
| FCF MarginFCF / Revenue | -99.4% | 30.7% |
| Capex IntensityCapex / Revenue | 21.9% | 6.7% |
| Cash ConversionOCF / Net Profit | — | 1.48× |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $893.0M | ||
| Q3 25 | $-52.6M | $938.0M | ||
| Q2 25 | $-32.4M | $486.0M | ||
| Q1 25 | $-11.6M | $587.0M | ||
| Q4 24 | $-8.0M | $905.0M | ||
| Q3 24 | $-28.9M | $951.0M | ||
| Q2 24 | $-30.0M | $502.0M | ||
| Q1 24 | $-41.7M | $595.0M |
| Q4 25 | $-44.6M | $732.0M | ||
| Q3 25 | $-61.5M | $805.0M | ||
| Q2 25 | $-45.8M | $308.0M | ||
| Q1 25 | $-22.2M | $438.0M | ||
| Q4 24 | $-23.6M | $689.0M | ||
| Q3 24 | $-47.4M | $784.0M | ||
| Q2 24 | $-50.1M | $370.0M | ||
| Q1 24 | $-65.8M | $455.0M |
| Q4 25 | -99.4% | 30.7% | ||
| Q3 25 | -687.0% | 33.5% | ||
| Q2 25 | -267.9% | 12.5% | ||
| Q1 25 | -524.0% | 19.7% | ||
| Q4 24 | -468.0% | 29.7% | ||
| Q3 24 | -728.4% | 32.8% | ||
| Q2 24 | -683.8% | 15.7% | ||
| Q1 24 | -661.5% | 20.8% |
| Q4 25 | 21.9% | 6.7% | ||
| Q3 25 | 99.7% | 5.5% | ||
| Q2 25 | 78.2% | 7.2% | ||
| Q1 25 | 251.1% | 6.7% | ||
| Q4 24 | 309.6% | 9.3% | ||
| Q3 24 | 284.6% | 7.0% | ||
| Q2 24 | 274.6% | 5.6% | ||
| Q1 24 | 242.5% | 6.4% |
| Q4 25 | — | 1.48× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | — | 0.68× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 1.39× | ||
| Q2 24 | — | 0.80× | ||
| Q1 24 | — | 0.99× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ABCL
Segment breakdown not available.
ZTS
| Other | $1.3B | 56% |
| Livestock | $234.0M | 10% |
| Pain Sedation | $209.0M | 9% |
| Other Pharmaceuticals | $188.0M | 8% |
| Swine | $125.0M | 5% |
| Poultry | $117.0M | 5% |
| Fish | $81.0M | 3% |
| Other Non Pharmaceuticals | $70.0M | 3% |
| Manufactured Product Other | $18.0M | 1% |
| Medicated Feed Additives | $12.0M | 1% |
