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Side-by-side financial comparison of Teradyne (TER) 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 $1.3B, roughly 1.9× Teradyne). Teradyne runs the higher net margin — 31.1% vs 25.3%, a 5.8% gap on every dollar of revenue. On growth, Teradyne posted the faster year-over-year revenue change (87.0% vs 3.0%). Over the past eight quarters, Teradyne's revenue compounded faster (32.6% CAGR vs 4.4%).
Teradyne, Inc. is an American automatic test equipment (ATE) designer and manufacturer based in North Reading, Massachusetts. Its high-profile customers include Samsung, Qualcomm, Intel, Analog Devices, Texas Instruments and IBM.
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...
TER vs ZTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $2.4B |
| Net Profit | $398.9M | $603.0M |
| Gross Margin | 60.9% | 70.2% |
| Operating Margin | 36.9% | 31.9% |
| Net Margin | 31.1% | 25.3% |
| Revenue YoY | 87.0% | 3.0% |
| Net Profit YoY | — | 3.8% |
| EPS (diluted) | $2.53 | $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 | $1.3B | — | ||
| Q4 25 | $1.1B | $2.4B | ||
| Q3 25 | $769.2M | $2.4B | ||
| Q2 25 | $651.8M | $2.5B | ||
| Q1 25 | $685.7M | $2.2B | ||
| Q4 24 | $752.9M | $2.3B | ||
| Q3 24 | $737.3M | $2.4B | ||
| Q2 24 | $729.9M | $2.4B |
| Q1 26 | $398.9M | — | ||
| Q4 25 | $257.2M | $603.0M | ||
| Q3 25 | $119.6M | $721.0M | ||
| Q2 25 | $78.4M | $718.0M | ||
| Q1 25 | $98.9M | $631.0M | ||
| Q4 24 | $146.3M | $581.0M | ||
| Q3 24 | $145.6M | $682.0M | ||
| Q2 24 | $186.3M | $624.0M |
| Q1 26 | 60.9% | — | ||
| Q4 25 | 57.2% | 70.2% | ||
| Q3 25 | 58.4% | 71.5% | ||
| Q2 25 | 57.2% | 73.6% | ||
| Q1 25 | 60.6% | 72.0% | ||
| Q4 24 | 59.4% | 69.5% | ||
| Q3 24 | 59.2% | 70.6% | ||
| Q2 24 | 58.3% | 71.7% |
| Q1 26 | 36.9% | — | ||
| Q4 25 | 27.1% | 31.9% | ||
| Q3 25 | 18.9% | 37.0% | ||
| Q2 25 | 13.9% | 36.7% | ||
| Q1 25 | 17.6% | 36.5% | ||
| Q4 24 | 20.4% | 31.6% | ||
| Q3 24 | 20.6% | 36.6% | ||
| Q2 24 | 28.8% | 33.0% |
| Q1 26 | 31.1% | — | ||
| Q4 25 | 23.7% | 25.3% | ||
| Q3 25 | 15.5% | 30.0% | ||
| Q2 25 | 12.0% | 29.2% | ||
| Q1 25 | 14.4% | 28.4% | ||
| Q4 24 | 19.4% | 25.1% | ||
| Q3 24 | 19.8% | 28.6% | ||
| Q2 24 | 25.5% | 26.4% |
| Q1 26 | $2.53 | — | ||
| Q4 25 | $1.62 | $1.37 | ||
| Q3 25 | $0.75 | $1.63 | ||
| Q2 25 | $0.49 | $1.61 | ||
| Q1 25 | $0.61 | $1.41 | ||
| Q4 24 | $0.89 | $1.29 | ||
| Q3 24 | $0.89 | $1.50 | ||
| Q2 24 | $1.14 | $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 | $241.9M | — |
| Total DebtLower is stronger | $0 | — |
| Stockholders' EquityBook value | — | $3.3B |
| Total Assets | $4.4B | $15.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $241.9M | — | ||
| Q4 25 | $293.8M | — | ||
| Q3 25 | $272.7M | $2.1B | ||
| Q2 25 | $339.3M | $1.4B | ||
| Q1 25 | $475.6M | $1.7B | ||
| Q4 24 | $553.4M | $2.0B | ||
| Q3 24 | $510.0M | $1.7B | ||
| Q2 24 | $421.9M | $1.6B |
| Q1 26 | $0 | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $2.8B | $3.3B | ||
| Q3 25 | $2.7B | $5.4B | ||
| Q2 25 | $2.8B | $5.0B | ||
| Q1 25 | $2.8B | $4.7B | ||
| Q4 24 | $2.8B | $4.8B | ||
| Q3 24 | $2.9B | $5.2B | ||
| Q2 24 | $2.7B | $5.0B |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $4.2B | $15.5B | ||
| Q3 25 | $4.0B | $15.2B | ||
| Q2 25 | $3.8B | $14.5B | ||
| Q1 25 | $3.7B | $14.1B | ||
| Q4 24 | $3.7B | $14.2B | ||
| Q3 24 | $3.8B | $14.4B | ||
| Q2 24 | $3.6B | $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 | $265.1M | $893.0M |
| Free Cash FlowOCF − Capex | — | $732.0M |
| FCF MarginFCF / Revenue | — | 30.7% |
| Capex IntensityCapex / Revenue | — | 6.7% |
| Cash ConversionOCF / Net Profit | 0.66× | 1.48× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $265.1M | — | ||
| Q4 25 | $281.6M | $893.0M | ||
| Q3 25 | $49.0M | $938.0M | ||
| Q2 25 | $182.1M | $486.0M | ||
| Q1 25 | $161.6M | $587.0M | ||
| Q4 24 | $282.6M | $905.0M | ||
| Q3 24 | $166.3M | $951.0M | ||
| Q2 24 | $216.1M | $502.0M |
| Q1 26 | — | — | ||
| Q4 25 | $218.8M | $732.0M | ||
| Q3 25 | $2.4M | $805.0M | ||
| Q2 25 | $131.7M | $308.0M | ||
| Q1 25 | $97.6M | $438.0M | ||
| Q4 24 | $225.2M | $689.0M | ||
| Q3 24 | $114.4M | $784.0M | ||
| Q2 24 | $171.2M | $370.0M |
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | 30.7% | ||
| Q3 25 | 0.3% | 33.5% | ||
| Q2 25 | 20.2% | 12.5% | ||
| Q1 25 | 14.2% | 19.7% | ||
| Q4 24 | 29.9% | 29.7% | ||
| Q3 24 | 15.5% | 32.8% | ||
| Q2 24 | 23.5% | 15.7% |
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 6.7% | ||
| Q3 25 | 6.1% | 5.5% | ||
| Q2 25 | 7.7% | 7.2% | ||
| Q1 25 | 9.3% | 6.7% | ||
| Q4 24 | 7.6% | 9.3% | ||
| Q3 24 | 7.0% | 7.0% | ||
| Q2 24 | 6.1% | 5.6% |
| Q1 26 | 0.66× | — | ||
| Q4 25 | 1.09× | 1.48× | ||
| Q3 25 | 0.41× | 1.30× | ||
| Q2 25 | 2.32× | 0.68× | ||
| Q1 25 | 1.63× | 0.93× | ||
| Q4 24 | 1.93× | 1.56× | ||
| Q3 24 | 1.14× | 1.39× | ||
| Q2 24 | 1.16× | 0.80× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TER
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% |
