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Side-by-side financial comparison of Invesco (IVZ) 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 $1.7B, roughly 1.4× Invesco). Zoetis runs the higher net margin — 25.3% vs -58.9%, a 84.1% gap on every dollar of revenue. On growth, Invesco posted the faster year-over-year revenue change (6.2% vs 3.0%). Zoetis produced more free cash flow last quarter ($732.0M vs $432.2M). Over the past eight quarters, Invesco's revenue compounded faster (7.1% CAGR vs 4.4%).
Invesco Ltd. is an American independent investment management company headquartered in Atlanta, Georgia, with branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York Stock Exchange. Invesco operates under the Invesco, Invesco Perpetual, and Powershares brand names.
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...
IVZ vs ZTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.7B | $2.4B |
| Net Profit | $-995.9M | $603.0M |
| Gross Margin | — | 70.2% |
| Operating Margin | -86.2% | 31.9% |
| Net Margin | -58.9% | 25.3% |
| Revenue YoY | 6.2% | 3.0% |
| Net Profit YoY | -575.8% | 3.8% |
| EPS (diluted) | $-2.61 | $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 | $1.7B | $2.4B | ||
| Q3 25 | $1.6B | $2.4B | ||
| Q2 25 | $1.5B | $2.5B | ||
| Q1 25 | $1.5B | $2.2B | ||
| Q4 24 | $1.6B | $2.3B | ||
| Q3 24 | $1.5B | $2.4B | ||
| Q2 24 | $1.5B | $2.4B | ||
| Q1 24 | $1.5B | $2.2B |
| Q4 25 | $-995.9M | $603.0M | ||
| Q3 25 | $356.4M | $721.0M | ||
| Q2 25 | $197.4M | $718.0M | ||
| Q1 25 | $171.1M | $631.0M | ||
| Q4 24 | $209.3M | $581.0M | ||
| Q3 24 | $55.0M | $682.0M | ||
| Q2 24 | $132.2M | $624.0M | ||
| Q1 24 | $141.5M | $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 | -86.2% | 31.9% | ||
| Q3 25 | 16.5% | 37.0% | ||
| Q2 25 | 14.1% | 36.7% | ||
| Q1 25 | 18.1% | 36.5% | ||
| Q4 24 | 19.6% | 31.6% | ||
| Q3 24 | 6.6% | 36.6% | ||
| Q2 24 | 13.9% | 33.0% | ||
| Q1 24 | 14.4% | 34.1% |
| Q4 25 | -58.9% | 25.3% | ||
| Q3 25 | 21.7% | 30.0% | ||
| Q2 25 | 13.0% | 29.2% | ||
| Q1 25 | 11.2% | 28.4% | ||
| Q4 24 | 13.1% | 25.1% | ||
| Q3 24 | 3.6% | 28.6% | ||
| Q2 24 | 8.9% | 26.4% | ||
| Q1 24 | 9.6% | 27.4% |
| Q4 25 | $-2.61 | $1.37 | ||
| Q3 25 | $0.66 | $1.63 | ||
| Q2 25 | $-0.03 | $1.61 | ||
| Q1 25 | $0.38 | $1.41 | ||
| Q4 24 | $0.46 | $1.29 | ||
| Q3 24 | $0.12 | $1.50 | ||
| Q2 24 | $0.29 | $1.37 | ||
| Q1 24 | $0.31 | $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 | $1.0B | — |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $12.2B | $3.3B |
| Total Assets | $27.1B | $15.5B |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | — | ||
| Q3 25 | $973.1M | $2.1B | ||
| Q2 25 | $922.7M | $1.4B | ||
| Q1 25 | $821.7M | $1.7B | ||
| Q4 24 | $986.5M | $2.0B | ||
| Q3 24 | $1.0B | $1.7B | ||
| Q2 24 | $878.5M | $1.6B | ||
| Q1 24 | $895.7M | $2.0B |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $964.8M | — | ||
| Q4 24 | $890.6M | — | ||
| Q3 24 | $890.3M | — | ||
| Q2 24 | $890.1M | — | ||
| Q1 24 | $1.3B | — |
| Q4 25 | $12.2B | $3.3B | ||
| Q3 25 | $14.0B | $5.4B | ||
| Q2 25 | $13.9B | $5.0B | ||
| Q1 25 | $14.7B | $4.7B | ||
| Q4 24 | $14.6B | $4.8B | ||
| Q3 24 | $14.8B | $5.2B | ||
| Q2 24 | $14.6B | $5.0B | ||
| Q1 24 | $14.6B | $5.1B |
| Q4 25 | $27.1B | $15.5B | ||
| Q3 25 | $28.4B | $15.2B | ||
| Q2 25 | $28.5B | $14.5B | ||
| Q1 25 | $28.1B | $14.1B | ||
| Q4 24 | $27.0B | $14.2B | ||
| Q3 24 | $27.5B | $14.4B | ||
| Q2 24 | $27.2B | $14.2B | ||
| Q1 24 | $28.1B | $14.3B |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.14× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.06× | — | ||
| Q3 24 | 0.06× | — | ||
| Q2 24 | 0.06× | — | ||
| Q1 24 | 0.09× | — |
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 | $455.8M | $893.0M |
| Free Cash FlowOCF − Capex | $432.2M | $732.0M |
| FCF MarginFCF / Revenue | 25.5% | 30.7% |
| Capex IntensityCapex / Revenue | 1.4% | 6.7% |
| Cash ConversionOCF / Net Profit | — | 1.48× |
| TTM Free Cash FlowTrailing 4 quarters | $1.4B | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $455.8M | $893.0M | ||
| Q3 25 | $606.2M | $938.0M | ||
| Q2 25 | $547.9M | $486.0M | ||
| Q1 25 | $-84.6M | $587.0M | ||
| Q4 24 | $316.9M | $905.0M | ||
| Q3 24 | $438.4M | $951.0M | ||
| Q2 24 | $489.1M | $502.0M | ||
| Q1 24 | $-54.4M | $595.0M |
| Q4 25 | $432.2M | $732.0M | ||
| Q3 25 | $586.4M | $805.0M | ||
| Q2 25 | $530.4M | $308.0M | ||
| Q1 25 | $-108.0M | $438.0M | ||
| Q4 24 | $309.9M | $689.0M | ||
| Q3 24 | $410.0M | $784.0M | ||
| Q2 24 | $462.4M | $370.0M | ||
| Q1 24 | $-75.4M | $455.0M |
| Q4 25 | 25.5% | 30.7% | ||
| Q3 25 | 35.7% | 33.5% | ||
| Q2 25 | 35.0% | 12.5% | ||
| Q1 25 | -7.1% | 19.7% | ||
| Q4 24 | 19.5% | 29.7% | ||
| Q3 24 | 27.1% | 32.8% | ||
| Q2 24 | 31.2% | 15.7% | ||
| Q1 24 | -5.1% | 20.8% |
| Q4 25 | 1.4% | 6.7% | ||
| Q3 25 | 1.2% | 5.5% | ||
| Q2 25 | 1.2% | 7.2% | ||
| Q1 25 | 1.5% | 6.7% | ||
| Q4 24 | 0.4% | 9.3% | ||
| Q3 24 | 1.9% | 7.0% | ||
| Q2 24 | 1.8% | 5.6% | ||
| Q1 24 | 1.4% | 6.4% |
| Q4 25 | — | 1.48× | ||
| Q3 25 | 1.70× | 1.30× | ||
| Q2 25 | 2.78× | 0.68× | ||
| Q1 25 | -0.49× | 0.93× | ||
| Q4 24 | 1.51× | 1.56× | ||
| Q3 24 | 7.97× | 1.39× | ||
| Q2 24 | 3.70× | 0.80× | ||
| Q1 24 | -0.38× | 0.99× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IVZ
| Investment Advice | $1.2B | 73% |
| Distribution And Shareholder Service | $382.7M | 23% |
| Financial Service Other | $51.0M | 3% |
| Investment Performance | $28.9M | 2% |
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% |
