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Side-by-side financial comparison of Lennox International (LII) 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 $1.2B, roughly 2.0× Lennox International). Zoetis runs the higher net margin — 25.3% vs 13.6%, a 11.7% gap on every dollar of revenue. On growth, Zoetis posted the faster year-over-year revenue change (3.0% vs -11.2%). Zoetis produced more free cash flow last quarter ($732.0M vs $376.7M). Over the past eight quarters, Lennox International's revenue compounded faster (6.8% CAGR vs 4.4%).
Lennox International Inc. is an American provider of climate control products for the heating, ventilation, and air conditioning (HVAC) and refrigeration markets. Based in Richardson, Texas, the company is 9.8% owned by John W. Norris, III, a descendant of DW Norris, who acquired the company in 1904. The company's largest production facilities are in Saltillo, Mexico, Marshalltown, Iowa, and Orangeburg, South Carolina.
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...
LII vs ZTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $2.4B |
| Net Profit | $162.1M | $603.0M |
| Gross Margin | 34.7% | 70.2% |
| Operating Margin | 18.6% | 31.9% |
| Net Margin | 13.6% | 25.3% |
| Revenue YoY | -11.2% | 3.0% |
| Net Profit YoY | -18.0% | 3.8% |
| EPS (diluted) | $4.62 | $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 | $1.2B | $2.4B | ||
| Q3 25 | $1.4B | $2.4B | ||
| Q2 25 | $1.5B | $2.5B | ||
| Q1 25 | $1.1B | $2.2B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.5B | $2.4B | ||
| Q2 24 | $1.5B | $2.4B | ||
| Q1 24 | $1.0B | $2.2B |
| Q4 25 | $162.1M | $603.0M | ||
| Q3 25 | $245.8M | $721.0M | ||
| Q2 25 | $277.6M | $718.0M | ||
| Q1 25 | $120.3M | $631.0M | ||
| Q4 24 | $197.7M | $581.0M | ||
| Q3 24 | $239.0M | $682.0M | ||
| Q2 24 | $245.9M | $624.0M | ||
| Q1 24 | $124.3M | $599.0M |
| Q4 25 | 34.7% | 70.2% | ||
| Q3 25 | 32.8% | 71.5% | ||
| Q2 25 | 34.8% | 73.6% | ||
| Q1 25 | 30.6% | 72.0% | ||
| Q4 24 | 33.9% | 69.5% | ||
| Q3 24 | 32.6% | 70.6% | ||
| Q2 24 | 33.6% | 71.7% | ||
| Q1 24 | 32.5% | 70.6% |
| Q4 25 | 18.6% | 31.9% | ||
| Q3 25 | 21.7% | 37.0% | ||
| Q2 25 | 23.6% | 36.7% | ||
| Q1 25 | 14.5% | 36.5% | ||
| Q4 24 | 18.2% | 31.6% | ||
| Q3 24 | 20.2% | 36.6% | ||
| Q2 24 | 22.1% | 33.0% | ||
| Q1 24 | 15.9% | 34.1% |
| Q4 25 | 13.6% | 25.3% | ||
| Q3 25 | 17.2% | 30.0% | ||
| Q2 25 | 18.5% | 29.2% | ||
| Q1 25 | 11.2% | 28.4% | ||
| Q4 24 | 14.7% | 25.1% | ||
| Q3 24 | 16.0% | 28.6% | ||
| Q2 24 | 16.9% | 26.4% | ||
| Q1 24 | 11.9% | 27.4% |
| Q4 25 | $4.62 | $1.37 | ||
| Q3 25 | $6.98 | $1.63 | ||
| Q2 25 | $7.82 | $1.61 | ||
| Q1 25 | $3.37 | $1.41 | ||
| Q4 24 | $5.52 | $1.29 | ||
| Q3 24 | $6.68 | $1.50 | ||
| Q2 24 | $6.87 | $1.37 | ||
| Q1 24 | $3.47 | $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 | $34.7M | — |
| Total DebtLower is stronger | $1.1B | — |
| Stockholders' EquityBook value | $1.2B | $3.3B |
| Total Assets | $4.1B | $15.5B |
| Debt / EquityLower = less leverage | 0.98× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.7M | — | ||
| Q3 25 | $59.2M | $2.1B | ||
| Q2 25 | $55.1M | $1.4B | ||
| Q1 25 | $222.9M | $1.7B | ||
| Q4 24 | $422.3M | $2.0B | ||
| Q3 24 | $255.7M | $1.7B | ||
| Q2 24 | $57.8M | $1.6B | ||
| Q1 24 | $57.6M | $2.0B |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $838.2M | — | ||
| Q2 25 | $835.7M | — | ||
| Q1 25 | $834.2M | — | ||
| Q4 24 | $833.1M | — | ||
| Q3 24 | $827.6M | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.2B | — |
| Q4 25 | $1.2B | $3.3B | ||
| Q3 25 | $1.1B | $5.4B | ||
| Q2 25 | $900.5M | $5.0B | ||
| Q1 25 | $852.5M | $4.7B | ||
| Q4 24 | $850.2M | $4.8B | ||
| Q3 24 | $754.0M | $5.2B | ||
| Q2 24 | $577.4M | $5.0B | ||
| Q1 24 | $368.8M | $5.1B |
| Q4 25 | $4.1B | $15.5B | ||
| Q3 25 | $3.5B | $15.2B | ||
| Q2 25 | $3.7B | $14.5B | ||
| Q1 25 | $3.5B | $14.1B | ||
| Q4 24 | $3.5B | $14.2B | ||
| Q3 24 | $3.3B | $14.4B | ||
| Q2 24 | $3.2B | $14.2B | ||
| Q1 24 | $3.0B | $14.3B |
| Q4 25 | 0.98× | — | ||
| Q3 25 | 0.78× | — | ||
| Q2 25 | 0.93× | — | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 0.98× | — | ||
| Q3 24 | 1.10× | — | ||
| Q2 24 | 1.95× | — | ||
| Q1 24 | 3.13× | — |
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 | $405.9M | $893.0M |
| Free Cash FlowOCF − Capex | $376.7M | $732.0M |
| FCF MarginFCF / Revenue | 31.5% | 30.7% |
| Capex IntensityCapex / Revenue | 2.4% | 6.7% |
| Cash ConversionOCF / Net Profit | 2.50× | 1.48× |
| TTM Free Cash FlowTrailing 4 quarters | $638.8M | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $405.9M | $893.0M | ||
| Q3 25 | $300.7M | $938.0M | ||
| Q2 25 | $86.8M | $486.0M | ||
| Q1 25 | $-35.8M | $587.0M | ||
| Q4 24 | $332.4M | $905.0M | ||
| Q3 24 | $452.1M | $951.0M | ||
| Q2 24 | $184.0M | $502.0M | ||
| Q1 24 | $-22.8M | $595.0M |
| Q4 25 | $376.7M | $732.0M | ||
| Q3 25 | $265.1M | $805.0M | ||
| Q2 25 | $58.3M | $308.0M | ||
| Q1 25 | $-61.3M | $438.0M | ||
| Q4 24 | $272.2M | $689.0M | ||
| Q3 24 | $410.9M | $784.0M | ||
| Q2 24 | $151.3M | $370.0M | ||
| Q1 24 | $-52.3M | $455.0M |
| Q4 25 | 31.5% | 30.7% | ||
| Q3 25 | 18.6% | 33.5% | ||
| Q2 25 | 3.9% | 12.5% | ||
| Q1 25 | -5.7% | 19.7% | ||
| Q4 24 | 20.2% | 29.7% | ||
| Q3 24 | 27.4% | 32.8% | ||
| Q2 24 | 10.4% | 15.7% | ||
| Q1 24 | -5.0% | 20.8% |
| Q4 25 | 2.4% | 6.7% | ||
| Q3 25 | 2.5% | 5.5% | ||
| Q2 25 | 1.9% | 7.2% | ||
| Q1 25 | 2.4% | 6.7% | ||
| Q4 24 | 4.5% | 9.3% | ||
| Q3 24 | 2.8% | 7.0% | ||
| Q2 24 | 2.3% | 5.6% | ||
| Q1 24 | 2.8% | 6.4% |
| Q4 25 | 2.50× | 1.48× | ||
| Q3 25 | 1.22× | 1.30× | ||
| Q2 25 | 0.31× | 0.68× | ||
| Q1 25 | -0.30× | 0.93× | ||
| Q4 24 | 1.68× | 1.56× | ||
| Q3 24 | 1.89× | 1.39× | ||
| Q2 24 | 0.75× | 0.80× | ||
| Q1 24 | -0.18× | 0.99× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LII
| Residential Heating And Cooling | $699.8M | 59% |
| Commercial Heating And Cooling | $495.2M | 41% |
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% |
