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Side-by-side financial comparison of Dover Corporation (DOV) 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 $2.1B, roughly 1.1× Dover Corporation). Zoetis runs the higher net margin — 25.3% vs 13.4%, a 11.8% gap on every dollar of revenue. On growth, Dover Corporation posted the faster year-over-year revenue change (12.5% vs 3.0%). Over the past eight quarters, Zoetis's revenue compounded faster (4.4% CAGR vs -1.8%).
Dover Corporation is an American conglomerate manufacturer of industrial products. The Downers Grove, Illinois-based company was founded in 1955. As of 2021, Dover's business was divided into five segments: Engineered Products, Clean Energy and Fueling, Imaging & Identification, Pumps & Process Solutions and Climate and Sustainability Technologies. Dover is a constituent of the S&P 500 index and trades on the New York Stock Exchange under the symbol DOV. Dover was ranked 448 in the 2024 Fortu...
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...
DOV vs ZTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $2.4B |
| Net Profit | $282.1M | $603.0M |
| Gross Margin | 39.1% | 70.2% |
| Operating Margin | 16.5% | 31.9% |
| Net Margin | 13.4% | 25.3% |
| Revenue YoY | 12.5% | 3.0% |
| Net Profit YoY | 22.2% | 3.8% |
| EPS (diluted) | $2.06 | $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.
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | $2.4B | ||
| Q3 25 | $2.1B | $2.4B | ||
| Q2 25 | $2.0B | $2.5B | ||
| Q1 25 | $1.9B | $2.2B | ||
| Q4 24 | $1.5B | $2.3B | ||
| Q3 24 | $2.0B | $2.4B | ||
| Q2 24 | $2.2B | $2.4B |
| Q1 26 | $282.1M | — | ||
| Q4 25 | $282.1M | $603.0M | ||
| Q3 25 | $302.0M | $721.0M | ||
| Q2 25 | $279.1M | $718.0M | ||
| Q1 25 | $230.8M | $631.0M | ||
| Q4 24 | $1.4B | $581.0M | ||
| Q3 24 | $347.1M | $682.0M | ||
| Q2 24 | $281.8M | $624.0M |
| Q1 26 | 39.1% | — | ||
| Q4 25 | 39.1% | 70.2% | ||
| Q3 25 | 40.1% | 71.5% | ||
| Q2 25 | 39.9% | 73.6% | ||
| Q1 25 | 40.0% | 72.0% | ||
| Q4 24 | 41.4% | 69.5% | ||
| Q3 24 | 38.5% | 70.6% | ||
| Q2 24 | 37.7% | 71.7% |
| Q1 26 | 16.5% | — | ||
| Q4 25 | 16.5% | 31.9% | ||
| Q3 25 | 18.2% | 37.0% | ||
| Q2 25 | 17.3% | 36.7% | ||
| Q1 25 | 15.9% | 36.5% | ||
| Q4 24 | 14.0% | 31.6% | ||
| Q3 24 | 16.8% | 36.6% | ||
| Q2 24 | 17.0% | 33.0% |
| Q1 26 | 13.4% | — | ||
| Q4 25 | 13.4% | 25.3% | ||
| Q3 25 | 14.5% | 30.0% | ||
| Q2 25 | 13.6% | 29.2% | ||
| Q1 25 | 12.4% | 28.4% | ||
| Q4 24 | 96.4% | 25.1% | ||
| Q3 24 | 17.5% | 28.6% | ||
| Q2 24 | 12.9% | 26.4% |
| Q1 26 | $2.06 | — | ||
| Q4 25 | $2.06 | $1.37 | ||
| Q3 25 | $2.19 | $1.63 | ||
| Q2 25 | $2.02 | $1.61 | ||
| Q1 25 | $1.67 | $1.41 | ||
| Q4 24 | $10.38 | $1.29 | ||
| Q3 24 | $2.51 | $1.50 | ||
| Q2 24 | $2.04 | $1.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $3.3B | — |
| Stockholders' EquityBook value | $7.4B | $3.3B |
| Total Assets | $13.4B | $15.5B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.6B |
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.3B | — | ||
| Q3 25 | $3.1B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | — |
| Q1 26 | $7.4B | — | ||
| Q4 25 | $7.4B | $3.3B | ||
| Q3 25 | $7.7B | $5.4B | ||
| Q2 25 | $7.4B | $5.0B | ||
| Q1 25 | $7.1B | $4.7B | ||
| Q4 24 | $7.0B | $4.8B | ||
| Q3 24 | $5.7B | $5.2B | ||
| Q2 24 | $5.4B | $5.0B |
| Q1 26 | $13.4B | — | ||
| Q4 25 | $13.4B | $15.5B | ||
| Q3 25 | $13.4B | $15.2B | ||
| Q2 25 | $13.2B | $14.5B | ||
| Q1 25 | $12.6B | $14.1B | ||
| Q4 24 | $12.5B | $14.2B | ||
| Q3 24 | $11.9B | $14.4B | ||
| Q2 24 | $11.3B | $14.2B |
| Q1 26 | 0.45× | — | ||
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.40× | — | ||
| Q2 25 | 0.41× | — | ||
| Q1 25 | 0.42× | — | ||
| Q4 24 | 0.42× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.55× | — |
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 | — | $893.0M |
| Free Cash FlowOCF − Capex | — | $732.0M |
| FCF MarginFCF / Revenue | — | 30.7% |
| Capex IntensityCapex / Revenue | — | 6.7% |
| Cash ConversionOCF / Net Profit | — | 1.48× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $543.9M | $893.0M | ||
| Q3 25 | $424.2M | $938.0M | ||
| Q2 25 | $212.3M | $486.0M | ||
| Q1 25 | $157.5M | $587.0M | ||
| Q4 24 | $439.0M | $905.0M | ||
| Q3 24 | $353.2M | $951.0M | ||
| Q2 24 | $203.7M | $502.0M |
| Q1 26 | — | — | ||
| Q4 25 | $487.0M | $732.0M | ||
| Q3 25 | $370.1M | $805.0M | ||
| Q2 25 | $151.4M | $308.0M | ||
| Q1 25 | $109.3M | $438.0M | ||
| Q4 24 | $385.0M | $689.0M | ||
| Q3 24 | $325.0M | $784.0M | ||
| Q2 24 | $162.8M | $370.0M |
| Q1 26 | — | — | ||
| Q4 25 | 23.2% | 30.7% | ||
| Q3 25 | 17.8% | 33.5% | ||
| Q2 25 | 7.4% | 12.5% | ||
| Q1 25 | 5.9% | 19.7% | ||
| Q4 24 | 25.8% | 29.7% | ||
| Q3 24 | 16.4% | 32.8% | ||
| Q2 24 | 7.5% | 15.7% |
| Q1 26 | — | — | ||
| Q4 25 | 2.7% | 6.7% | ||
| Q3 25 | 2.6% | 5.5% | ||
| Q2 25 | 3.0% | 7.2% | ||
| Q1 25 | 2.6% | 6.7% | ||
| Q4 24 | 3.6% | 9.3% | ||
| Q3 24 | 1.4% | 7.0% | ||
| Q2 24 | 1.9% | 5.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.93× | 1.48× | ||
| Q3 25 | 1.40× | 1.30× | ||
| Q2 25 | 0.76× | 0.68× | ||
| Q1 25 | 0.68× | 0.93× | ||
| Q4 24 | 0.31× | 1.56× | ||
| Q3 24 | 1.02× | 1.39× | ||
| Q2 24 | 0.72× | 0.80× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DOV
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% |
