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Side-by-side financial comparison of Eastman Chemical Company (EMN) 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 $2.0B, roughly 1.2× Eastman Chemical Company). Zoetis runs the higher net margin — 25.3% vs 5.3%, a 19.9% gap on every dollar of revenue. On growth, Zoetis posted the faster year-over-year revenue change (3.0% vs -13.8%). Over the past eight quarters, Zoetis's revenue compounded faster (4.4% CAGR vs -8.6%).
Eastman Chemical Company is an American chemical products manufacturer based in Kingsport, Tennessee. Founded in 1920, it was formerly a subsidiary of Kodak until 1994. The company is an independent global specialty materials company that produces a broad range of advanced materials, chemicals and fibers for everyday purposes. It operates 36 manufacturing sites worldwide and employs approximately 14,000 people. In 2023, Eastman had sales revenue of approximately $9.21 billion.
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...
EMN vs ZTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $2.4B |
| Net Profit | $105.0M | $603.0M |
| Gross Margin | 17.1% | 70.2% |
| Operating Margin | — | 31.9% |
| Net Margin | 5.3% | 25.3% |
| Revenue YoY | -13.8% | 3.0% |
| Net Profit YoY | -42.3% | 3.8% |
| EPS (diluted) | $0.93 | $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 | $2.0B | — | ||
| Q4 25 | $2.0B | $2.4B | ||
| Q3 25 | $2.2B | $2.4B | ||
| Q2 25 | $2.3B | $2.5B | ||
| Q1 25 | $2.3B | $2.2B | ||
| Q4 24 | $2.2B | $2.3B | ||
| Q3 24 | $2.5B | $2.4B | ||
| Q2 24 | $2.4B | $2.4B |
| Q1 26 | $105.0M | — | ||
| Q4 25 | $105.0M | $603.0M | ||
| Q3 25 | $47.0M | $721.0M | ||
| Q2 25 | $140.0M | $718.0M | ||
| Q1 25 | $182.0M | $631.0M | ||
| Q4 24 | $330.0M | $581.0M | ||
| Q3 24 | $180.0M | $682.0M | ||
| Q2 24 | $230.0M | $624.0M |
| Q1 26 | 17.1% | — | ||
| Q4 25 | 17.1% | 70.2% | ||
| Q3 25 | 19.7% | 71.5% | ||
| Q2 25 | 22.1% | 73.6% | ||
| Q1 25 | 24.8% | 72.0% | ||
| Q4 24 | 24.7% | 69.5% | ||
| Q3 24 | 24.6% | 70.6% | ||
| Q2 24 | 25.3% | 71.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 31.9% | ||
| Q3 25 | 6.1% | 37.0% | ||
| Q2 25 | 7.4% | 36.7% | ||
| Q1 25 | 11.0% | 36.5% | ||
| Q4 24 | 13.2% | 31.6% | ||
| Q3 24 | 11.4% | 36.6% | ||
| Q2 24 | 12.1% | 33.0% |
| Q1 26 | 5.3% | — | ||
| Q4 25 | 5.3% | 25.3% | ||
| Q3 25 | 2.1% | 30.0% | ||
| Q2 25 | 6.1% | 29.2% | ||
| Q1 25 | 7.9% | 28.4% | ||
| Q4 24 | 14.7% | 25.1% | ||
| Q3 24 | 7.3% | 28.6% | ||
| Q2 24 | 9.7% | 26.4% |
| Q1 26 | $0.93 | — | ||
| Q4 25 | $0.93 | $1.37 | ||
| Q3 25 | $0.40 | $1.63 | ||
| Q2 25 | $1.20 | $1.61 | ||
| Q1 25 | $1.57 | $1.41 | ||
| Q4 24 | $2.81 | $1.29 | ||
| Q3 24 | $1.53 | $1.50 | ||
| Q2 24 | $1.94 | $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 | $566.0M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $6.0B | $3.3B |
| Total Assets | $14.9B | $15.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $566.0M | — | ||
| Q4 25 | $566.0M | — | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $837.0M | $2.0B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.6B |
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.0B | $3.3B | ||
| Q3 25 | $5.8B | $5.4B | ||
| Q2 25 | $5.8B | $5.0B | ||
| Q1 25 | $5.9B | $4.7B | ||
| Q4 24 | $5.8B | $4.8B | ||
| Q3 24 | $5.7B | $5.2B | ||
| Q2 24 | $5.6B | $5.0B |
| Q1 26 | $14.9B | — | ||
| Q4 25 | $14.9B | $15.5B | ||
| Q3 25 | $15.0B | $15.2B | ||
| Q2 25 | $15.2B | $14.5B | ||
| Q1 25 | $15.0B | $14.1B | ||
| Q4 24 | $15.2B | $14.2B | ||
| Q3 24 | $15.1B | $14.4B | ||
| Q2 24 | $14.9B | $14.2B |
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 | $502.0M | $893.0M | ||
| Q3 25 | $402.0M | $938.0M | ||
| Q2 25 | $233.0M | $486.0M | ||
| Q1 25 | $-167.0M | $587.0M | ||
| Q4 24 | $540.0M | $905.0M | ||
| Q3 24 | $396.0M | $951.0M | ||
| Q2 24 | $367.0M | $502.0M |
| Q1 26 | — | — | ||
| Q4 25 | $390.0M | $732.0M | ||
| Q3 25 | $265.0M | $805.0M | ||
| Q2 25 | $83.0M | $308.0M | ||
| Q1 25 | $-314.0M | $438.0M | ||
| Q4 24 | $361.0M | $689.0M | ||
| Q3 24 | $276.0M | $784.0M | ||
| Q2 24 | $252.0M | $370.0M |
| Q1 26 | — | — | ||
| Q4 25 | 19.8% | 30.7% | ||
| Q3 25 | 12.0% | 33.5% | ||
| Q2 25 | 3.6% | 12.5% | ||
| Q1 25 | -13.7% | 19.7% | ||
| Q4 24 | 16.1% | 29.7% | ||
| Q3 24 | 11.2% | 32.8% | ||
| Q2 24 | 10.7% | 15.7% |
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 6.7% | ||
| Q3 25 | 6.2% | 5.5% | ||
| Q2 25 | 6.6% | 7.2% | ||
| Q1 25 | 6.4% | 6.7% | ||
| Q4 24 | 8.0% | 9.3% | ||
| Q3 24 | 4.9% | 7.0% | ||
| Q2 24 | 4.9% | 5.6% |
| Q1 26 | — | — | ||
| Q4 25 | 4.78× | 1.48× | ||
| Q3 25 | 8.55× | 1.30× | ||
| Q2 25 | 1.66× | 0.68× | ||
| Q1 25 | -0.92× | 0.93× | ||
| Q4 24 | 1.64× | 1.56× | ||
| Q3 24 | 2.20× | 1.39× | ||
| Q2 24 | 1.60× | 0.80× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EMN
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% |
