Pricing Log in Create free account
Friday 6 November 2026 Export GILD’s income statement to Excel — free account

Gilead Sciences, Inc.

GILD Healthcare Drug Manufacturers General

Gilead Sciences, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $29.4 billion, up 2.40% from fiscal 2024.

Revenue
+6.83%
EPS
−20.3%
Free cash flow
+21.1%
Total debt
+5.17%

Quarter to September 2026, against a year earlier

167.46 7.02 −4.02%
Market cap
$207.8B
P/E
0.0×
Fwd P/E
−41.3×
Dividend yield
1.94%
F-score
8/9
Altman Z
4.03
Beneish M
−2.45
Dividend safety
77/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by regions Fiscal 2025

  • U.S.
  • Europe
  • Rest of World

Every year since 2010 →

Insider Decisions last twelve months

Sold, $m 78.98
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 3 5 4 3 3 2 3 3 5 3 4 —
Insider Ownership 0.16%

Capital & Financial Ratios $m

Size
Market Cap 207,840.00
Revenue ttm 30,988.00
Net income ttm (3,862.00)
Free cash flow ttm 13,780.00
Net debt Q 19,794.00
Valuation
P/E 0.00
Forward P/E (41.30) (negative: loss-making)
Price / sales 6.71
Forward P/S Powerpack
Price / FCF 15.09
Price / book 16.06 (above 6: high)
Financial health
Current ratio Q 1.38
Debt / equity Q 2.02 (above 2: weak)
Interest coverage Q 12.87
Growth
Revenue growth Q +6.83% (above 0%: growing)
Operating income growth Q +4.06% (above 0%: growing)
EPS, this year −110.41% (below 0%: weak)
EPS, next year A +1,290.88% (at or above 15%: strong)
Revenue, next year A +41.27% (at or above 10%: strong)
EPS, past 5 yrs +132.41% (at or above 15%: strong)
EPS, next 5 yrs A +9.77%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 7.4×, against a ten-year median of 4.1×; over the ten years it ranged from 3.4× in 2017 to 7.5× in 2026.
P/S against its own 10 years 99.85%
10-year low 10-year high
P/B against its own 10 years 99.78%
10-year low 10-year high
EV/Sales against its own 10 years 99.85%
10-year low 10-year high
EV/FCF against its own 10 years 89.11%
10-year low 10-year high

Dividends raised every year since 2017

Yield
1.94%
Annual rate
3.25
Payout ratio
—
Growth, 2017–25
+5.37%/yr
  1. 2.08 ’17
  2. 2.28 ’18 +10
  3. 2.52 ’19 +11
  4. 2.72 ’20 +8
  5. 2.84 ’21 +4
  6. 2.92 ’22 +3
  7. 3.00 ’23 +3
  8. 3.08 ’24 +3
  9. 3.16 ’25 +3
  10. 4.40 ’26e +39
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 7,264 9,991 7,632 6,437
Receivables 4,660 4,420 4,913 5,007
Inventory 1,787 1,710 1,774 1,896
Other — — — —
16,085 19,173 18,342 16,553
2023 2024 2025 Q'26
Payables 550 833 715 934
ST’ Debt 1,798 1,815 2,807 2,416
Other 5,130 5,464 3,953 4,028
11,280 12,004 11,813 12,002

Compound Annual Growth %

10y 5y 3y
Sales (1.03%) 3.58% 2.57%
Cash Flow (7.24%) 4.17% 3.37%
Earnings (7.27%) 133.35% 22.83%
Book Value 1.70% 4.42% 2.17%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 2.17 Actual 2.55

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.83 1.86 Beat by 0.03
Q1 FY26 1.89 2.03 Beat by 0.14
Q2 FY26 −7.07 −6.75 Beat by 0.32
Q3 FY26 2.17 2.55 Beat by 0.38
Q4 FY26 1.88 — Reports 9 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.61 (8.45) 1.94 — —
’25 1.04 1.56 2.43 1.74 6.78
’24 (3.34) 1.29 1.00 1.42 0.38
’23 0.80 0.83 1.73 1.14 4.50
’22 0.02 0.91 1.42 1.30 3.64
’21 1.37 1.21 2.05 0.30 4.93
’20 1.22 (2.66) 0.29 1.23 0.10
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 6,960 7,803 8,300 — —
’25 6,667 7,082 7,769 7,925 29,443
’24 6,686 6,954 7,545 7,569 28,754
’23 6,352 6,599 7,051 7,114 27,116
’22 6,590 6,260 7,042 7,389 27,281
’21 6,423 6,217 7,421 7,244 27,305
’20 5,548 5,143 6,577 7,421 24,689
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2,544 3,573 5,035 — —
’25 1,757 827 4,108 3,327 10,019
’24 2,219 1,325 4,309 2,975 10,828
’23 1,744 2,338 1,755 2,169 8,006
’22 1,840 1,802 2,863 2,567 9,072
’21 2,610 2,316 3,253 3,205 11,384
’20 1,436 2,566 2,250 1,916 8,168
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 2,427 3,433 4,798 — —
’25 1,653 720 3,961 3,122 9,456
’24 2,114 1,195 4,168 2,828 10,305
’23 1,635 2,199 1,633 1,954 7,421
’22 1,593 1,659 2,706 2,386 8,344
’21 2,445 2,197 3,114 3,049 10,805
’20 1,265 2,423 2,095 1,735 7,518
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 4.1% a year for ten years. It grew −7.4% a year over the last ten.

Implied
4.1%
10 years, reported
−7.4%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 30,390 26,107 22,127 22,449 24,689 27,305 27,281 27,116 28,754 29,443 30,988 (0.4%) 41,595 44,613 46,504 +16.5%
Gross margin, % 85.98 83.26 78.07 79.18 81.48 75.82 79.26 76.04 78.26 78.83 79.93 (7.1) pt
EBT 17,097 13,529 7,799 5,160 1,669 8,278 5,814 6,859 690 9,796 (2,534) (6.0%)
EBT margin, % 56.26 51.82 35.25 22.99 6.76 30.32 21.31 25.30 2.40 33.27 (8.18) (23.0) pt
Net income 13,488 4,644 5,460 5,364 89 6,201 4,566 5,613 480 8,510 (3,862) (5.0%)
Per share, $
Per share, $ Revenue 22.70 19.97 17.05 17.68 19.64 21.74 21.74 21.73 23.06 23.67 24.95 +0.5%
Earnings 10.08 3.54 4.20 4.24 0.10 4.96 3.66 4.54 0.38 6.84 (3.10) (4.2%)
Cash flow 12.73 9.10 6.47 7.20 6.50 9.06 7.23 6.42 8.68 8.05 11.66 (5.0%)
Capex (0.56) (0.45) (0.71) (0.65) (0.52) (0.46) (0.58) (0.47) (0.42) (0.45) (0.56) (2.3%)
Free cash flow 12.17 8.65 5.76 6.55 5.98 8.60 6.65 5.95 8.26 7.60 11.10 (5.1%)
Book value 14.46 15.69 16.59 17.83 14.50 16.77 16.90 18.23 15.43 18.18 10.43 +2.6%
Shares, m 1,339 1,307 1,298 1,270 1,257 1,256 1,255 1,248 1,247 1,244 1,243 (0.8%)
Valuation, ×
Valuation, × P/E 7.36 20.93 14.89 15.33 582.60 14.67 23.27 18.29 243.08 17.92 0.00 95.8
P/S 3.27 3.71 3.67 3.68 2.97 3.34 3.93 3.83 4.01 5.19 6.71 3.8
P/B 5.13 4.72 3.77 3.64 4.02 4.33 5.05 4.57 5.98 6.75 16.06 4.8
EV/Sales 3.78 4.04 3.59 3.73 3.99 4.11 4.66 4.53 4.59 5.77 7.35 4.3
EV/FCF 7.04 9.32 10.63 10.07 13.09 10.40 15.24 16.56 12.80 17.98 16.53 12.3
Cash, $m
Cash, $m Operating cash flow 17,047 11,898 8,400 9,144 8,168 11,384 9,072 8,006 10,828 10,019 14,479 (5.7%)
Capex (748) (590) (924) (825) (650) (579) (728) (585) (523) (563) (699) (3.1%)
Free cash flow 16,299 11,308 7,476 8,319 7,518 10,805 8,344 7,421 10,305 9,456 13,780 (5.9%)
Balance, $m
Balance, $m Working capital 10,370 20,188 25,231 20,537 4,599 3,162 3,206 4,805 7,169 6,529 4,551 (5.0%)
Net debt 14,748 8,590 (1,727) 1,250 25,208 21,151 20,024 19,003 16,720 17,304 19,794 +1.8%
Shareholders’ equity 19,363 20,501 21,534 22,650 18,221 21,064 21,209 22,749 19,246 22,618 12,955 +1.7%
Returns, %
Returns, % ROA 24.84 7.27 8.14 8.60 0.19 9.13 7.00 9.04 0.79 14.42 (7.03) (10.4) pt
ROIC 32.31 30.34 25.87 11.21 5.86 14.68 11.11 11.38 2.89 15.69 (4.51) (16.6) pt
ROE 70.18 23.22 25.95 24.38 0.60 31.69 21.73 25.77 2.29 40.66 (22.45) (29.5) pt
People
People Employees 9,000 10,000 11,000 11,800 13,600 14,400 17,000 18,000 17,600 17,000 — +7.3%
Revenue/emp, $m 3.38 2.61 2.01 1.90 1.82 1.90 1.60 1.51 1.63 1.73 — (7.1%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Gilead Sciences is a biopharmaceutical company that discovers, develops and sells medicines to prevent and treat diseases. Founded in 1987, it is headquartered in Foster City, California. Daniel P. O’Day is chairman and chief executive officer.

Its largest therapeutic area is HIV. Biktarvy is a once-daily tablet for treating HIV-1 in certain patients. Descovy is used with other medicines to treat HIV and is also approved for pre-exposure prophylaxis, or PrEP, to reduce the risk of sexually acquired HIV in certain people. Yeztugo is another prevention medicine, available as a tablet and an injection. Sunlenca is used with other medicines to treat certain adults whose HIV is resistant to multiple drugs.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by regions, and margins
U.S. 20,876 70.90%
Europe 5,064 17.20%
Rest of World 3,503 11.90%
Gross margin 78.83%
Operating margin 34.04%
Pre-tax margin 33.27%

Revenue by segment since 2010

Gilead Sciences, Inc. vs peers in Drug Manufacturers General (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MRK Merck & Co., Inc. $362.5B 118× 109× +4.68% (above 0%: growing) −130.68% (below 0%: shrinking) +77.03% (above 0%: growing) 72.95% 31.90% Compare
NVS Novartis AG $296.4B 30.9× 23.2× +4.67% (above 0%: growing) −69.08% (below 0%: shrinking) −17.81% (below 0%: shrinking) 75.99% 12.26% Compare
AZN AstraZeneca PLC $289.8B 26.3× 24.5× +6.70% (above 0%: growing) +22.50% (above 0%: growing) +1.99% (above 0%: growing) 81.82% 27.07% Compare
AMGN Amgen Inc. $248.8B 26.6× 29.6× +8.45% (above 0%: growing) +19.44% (above 0%: growing) −0.16% (below 0%: shrinking) 73.10% 35.79% Compare
GILD Gilead Sciences, Inc. $207.8B — (loss-making) — (loss-making) +6.83% (above 0%: growing) −20.33% (below 0%: shrinking) +21.13% (above 0%: growing) 81.07% 41.71%
PFE Pfizer Inc. $170.3B 42.2× 18.9× −0.43% (below 0%: shrinking) −7.98% (below 0%: shrinking) +20.02% (above 0%: growing) 75.71% 22.14% Compare
NVO Novo Nordisk A/S $134.8B 9.9× — +4.47% (above 0%: growing) −18.68% (below 0%: shrinking) +71.57% (above 0%: growing) 78.21% 34.48% Compare
BMY Bristol Myers Squibb Company $129.0B 14.0× 11.9× +6.93% (above 0%: growing) −2.02% (below 0%: shrinking) −35.95% (below 0%: shrinking) 68.28% 19.40% Compare
SNY Sanofi $111.8B 23.2× — +13.89% (above 0%: growing) +8.21% (above 0%: growing) +99.60% (above 0%: growing) 76.16% 28.53% Compare
Median of peers $209.6B 26.4× 23.9× +5.69% −5.00% +11.01% 75.85% 27.80%

All 21 Drug Manufacturers General stocks →

From the latest earnings call

Updated

  • Johanna Mercier said HIV sales benefited from demand, pricing and inventory, and that the usual fourth-quarter inventory build could be smaller than normal.
  • Andrew Dickinson said Gilead expects an approximately $1.5 billion net impact on Biktarvy revenue in 2028 from Medicare pricing and related effects.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Jefferies Oct 30, 2026 Target raised Buy 185.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 89.50%
Held by the ten largest 47.41%
Holder Shares Stake Change
Vanguard 129.75m 10.46% +825.67k
BlackRock 121.84m 9.82% +2.83m
Fidelity (FMR) 66.87m 5.39% −5.04m
State Street 61.22m 4.93% +1.36m
Capital Group 60.79m 4.90% −8.02m
Invesco 39.82m 3.21% −1.76m
T. Rowe Price 30.27m 2.44% +3.79m
Geode Capital Management 30.07m 2.42% +339.59k
Morgan Stanley 24.00m 1.93% +705.06k
Dodge & Cox 23.68m 1.91% −573.26k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 20 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 28.44m 63.26m 255.00
2024 23.69m 44.79m 187.00
2023 22.61m 15.48m 157.00
2022 21.62m 54.97m 161.00
2021 19.23m 31.49m 130.00

Ownership

Directors and executive officers, together less than 1%
The Vanguard Group 9.01%
BlackRock, Inc. 8.20%
FMR LLC 5.28%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Gilead Sciences, Inc. (GILD) Latest News

5 Nov

Impact 3 · · Simply Wall St.

4 Nov

Impact 3 · · Trefis
Impact 3 · · Investing.com

1 Nov

Impact 3 · · The Motley Fool

31 Oct

Impact 3 · · StockStory

30 Oct

Impact 4 · · The Motley Fool transcript
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Moby
Impact 3 · · InvestorsHub

29 Oct

Impact 4 · · MarketBeat
Impact 4 · · Business Wire
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · StockStory
Impact 3 · · Associated Press

28 Oct

Impact 3 · · StockStory

27 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Zacks
Impact 4 · · CNW Group

26 Oct

Impact 4 · · Trefis
Impact 4 · · biopharmadive.com
Impact 3 · · Zacks

25 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · The Motley Fool

24 Oct

Impact 4 · · Simply Wall St.

23 Oct

Impact 4 · · pharmaceutical-technology.com

22 Oct

Impact 4 · · Business Wire
Impact 4 · · Zacks
Impact 3 · · Insider Monkey

GILD metrics, ten years each

stockrow.com/GILD · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com