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Side-by-side financial comparison of Synopsys (SNPS) 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 $2.3B, roughly 1.1× Synopsys). Zoetis runs the higher net margin — 25.3% vs 19.9%, a 5.4% gap on every dollar of revenue. On growth, Synopsys posted the faster year-over-year revenue change (50.6% vs 3.0%). Zoetis produced more free cash flow last quarter ($732.0M vs $605.2M). Over the past eight quarters, Synopsys's revenue compounded faster (16.9% CAGR vs 4.4%).
Synopsys, Inc. is an American multinational electronic design automation (EDA) company headquartered in Sunnyvale, California, that focuses on design and verification of silicon chips, electronic system-level design and verification, and reusable components. Synopsys supplies tools and services to the semiconductor design and manufacturing industry.
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...
SNPS vs ZTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3B | $2.4B |
| Net Profit | $448.7M | $603.0M |
| Gross Margin | 71.0% | 70.2% |
| Operating Margin | 5.4% | 31.9% |
| Net Margin | 19.9% | 25.3% |
| Revenue YoY | 50.6% | 3.0% |
| Net Profit YoY | -59.7% | 3.8% |
| EPS (diluted) | $2.44 | $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 | $2.3B | $2.4B | ||
| Q3 25 | $1.7B | $2.4B | ||
| Q2 25 | $1.6B | $2.5B | ||
| Q1 25 | $1.5B | $2.2B | ||
| Q4 24 | $1.5B | $2.3B | ||
| Q3 24 | $1.5B | $2.4B | ||
| Q2 24 | $1.5B | $2.4B | ||
| Q1 24 | $1.6B | $2.2B |
| Q4 25 | $448.7M | $603.0M | ||
| Q3 25 | $242.5M | $721.0M | ||
| Q2 25 | $345.3M | $718.0M | ||
| Q1 25 | $295.7M | $631.0M | ||
| Q4 24 | $1.1B | $581.0M | ||
| Q3 24 | $408.1M | $682.0M | ||
| Q2 24 | $292.1M | $624.0M | ||
| Q1 24 | $449.1M | $599.0M |
| Q4 25 | 71.0% | 70.2% | ||
| Q3 25 | 78.1% | 71.5% | ||
| Q2 25 | 80.2% | 73.6% | ||
| Q1 25 | 81.4% | 72.0% | ||
| Q4 24 | 78.3% | 69.5% | ||
| Q3 24 | 80.9% | 70.6% | ||
| Q2 24 | 79.4% | 71.7% | ||
| Q1 24 | 80.0% | 70.6% |
| Q4 25 | 5.4% | 31.9% | ||
| Q3 25 | 9.5% | 37.0% | ||
| Q2 25 | 23.5% | 36.7% | ||
| Q1 25 | 17.3% | 36.5% | ||
| Q4 24 | 20.3% | 31.6% | ||
| Q3 24 | 23.6% | 36.6% | ||
| Q2 24 | 22.8% | 33.0% | ||
| Q1 24 | 21.8% | 34.1% |
| Q4 25 | 19.9% | 25.3% | ||
| Q3 25 | 13.9% | 30.0% | ||
| Q2 25 | 21.5% | 29.2% | ||
| Q1 25 | 20.3% | 28.4% | ||
| Q4 24 | 74.4% | 25.1% | ||
| Q3 24 | 26.7% | 28.6% | ||
| Q2 24 | 20.1% | 26.4% | ||
| Q1 24 | 27.2% | 27.4% |
| Q4 25 | $2.44 | $1.37 | ||
| Q3 25 | $1.50 | $1.63 | ||
| Q2 25 | $2.21 | $1.61 | ||
| Q1 25 | $1.89 | $1.41 | ||
| Q4 24 | $7.13 | $1.29 | ||
| Q3 24 | $2.61 | $1.50 | ||
| Q2 24 | $1.88 | $1.37 | ||
| Q1 24 | $2.89 | $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 | $3.0B | — |
| Total DebtLower is stronger | $13.5B | — |
| Stockholders' EquityBook value | $28.3B | $3.3B |
| Total Assets | $48.2B | $15.5B |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0B | — | ||
| Q3 25 | $2.6B | $2.1B | ||
| Q2 25 | $14.3B | $1.4B | ||
| Q1 25 | $3.8B | $1.7B | ||
| Q4 24 | $4.1B | $2.0B | ||
| Q3 24 | $2.0B | $1.7B | ||
| Q2 24 | $1.7B | $1.6B | ||
| Q1 24 | $1.3B | $2.0B |
| Q4 25 | $13.5B | — | ||
| Q3 25 | $14.3B | — | ||
| Q2 25 | $10.1B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $28.3B | $3.3B | ||
| Q3 25 | $27.6B | $5.4B | ||
| Q2 25 | $9.9B | $5.0B | ||
| Q1 25 | $9.3B | $4.7B | ||
| Q4 24 | $9.0B | $4.8B | ||
| Q3 24 | $7.7B | $5.2B | ||
| Q2 24 | $7.2B | $5.0B | ||
| Q1 24 | $6.7B | $5.1B |
| Q4 25 | $48.2B | $15.5B | ||
| Q3 25 | $48.2B | $15.2B | ||
| Q2 25 | $23.8B | $14.5B | ||
| Q1 25 | $13.0B | $14.1B | ||
| Q4 24 | $13.1B | $14.2B | ||
| Q3 24 | $11.6B | $14.4B | ||
| Q2 24 | $11.0B | $14.2B | ||
| Q1 24 | $10.6B | $14.3B |
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.52× | — | ||
| Q2 25 | 1.01× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $639.7M | $893.0M |
| Free Cash FlowOCF − Capex | $605.2M | $732.0M |
| FCF MarginFCF / Revenue | 26.8% | 30.7% |
| Capex IntensityCapex / Revenue | 1.5% | 6.7% |
| Cash ConversionOCF / Net Profit | 1.43× | 1.48× |
| TTM Free Cash FlowTrailing 4 quarters | $1.3B | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $639.7M | $893.0M | ||
| Q3 25 | $671.0M | $938.0M | ||
| Q2 25 | $275.4M | $486.0M | ||
| Q1 25 | $-67.5M | $587.0M | ||
| Q4 24 | $562.8M | $905.0M | ||
| Q3 24 | $455.4M | $951.0M | ||
| Q2 24 | $476.6M | $502.0M | ||
| Q1 24 | $-87.8M | $595.0M |
| Q4 25 | $605.2M | $732.0M | ||
| Q3 25 | $632.4M | $805.0M | ||
| Q2 25 | $219.8M | $308.0M | ||
| Q1 25 | $-108.2M | $438.0M | ||
| Q4 24 | $558.4M | $689.0M | ||
| Q3 24 | $415.4M | $784.0M | ||
| Q2 24 | $438.2M | $370.0M | ||
| Q1 24 | $-128.2M | $455.0M |
| Q4 25 | 26.8% | 30.7% | ||
| Q3 25 | 36.3% | 33.5% | ||
| Q2 25 | 13.7% | 12.5% | ||
| Q1 25 | -7.4% | 19.7% | ||
| Q4 24 | 37.3% | 29.7% | ||
| Q3 24 | 27.2% | 32.8% | ||
| Q2 24 | 30.1% | 15.7% | ||
| Q1 24 | -7.8% | 20.8% |
| Q4 25 | 1.5% | 6.7% | ||
| Q3 25 | 2.2% | 5.5% | ||
| Q2 25 | 3.5% | 7.2% | ||
| Q1 25 | 2.8% | 6.7% | ||
| Q4 24 | 0.3% | 9.3% | ||
| Q3 24 | 2.6% | 7.0% | ||
| Q2 24 | 2.6% | 5.6% | ||
| Q1 24 | 2.4% | 6.4% |
| Q4 25 | 1.43× | 1.48× | ||
| Q3 25 | 2.77× | 1.30× | ||
| Q2 25 | 0.80× | 0.68× | ||
| Q1 25 | -0.23× | 0.93× | ||
| Q4 24 | 0.51× | 1.56× | ||
| Q3 24 | 1.12× | 1.39× | ||
| Q2 24 | 1.63× | 0.80× | ||
| Q1 24 | -0.20× | 0.99× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SNPS
| License And Maintenance | $940.7M | 42% |
| Other | $640.0M | 28% |
| Design IP Segment | $407.1M | 18% |
| KR | $236.9M | 11% |
| Sales Based Royalties | $30.1M | 1% |
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% |
