Investor Overview
Delivering Above-Market Operational
Revenue Growth
Operational revenue growth¹ vs. market²
4%
14
8%
2017
Market Revenue Growth
5%
8% 3
2018
Zoetis Revenue Growth
2%
8% 3
2019
6%
8% 3
2020
10%
15%
2021
3%²
8%
2022
1 Operational revenue growth (a non-GAAP financial measure) excludes the impact of foreign exchange. Reconciliations of non-GAAP financial measures are available in the appendix
to this presentation.
2 Vetnosis "Review 2022" dated May 2023. Market estimate for 2022 based on Zoetis internal estimates.
3 Organic operational growth (a non-GAAP financial measure) excludes the impact of the acquisition of Abaxis in 2018 and 2019 and other acquisitions in 2020,
as well as foreign exchange; if included, operational revenue growth was 10%, 10% and 9% in 2018, 2019 and 2020, respectively.
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