Gilead Sciences, Inc. (GILD) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	-$7.25	-$6.75	+6.9%	—	—	—
Q2 26	$1.91	$2.03	+6.3%	—	—	—
Q1 26	$1.81	$1.86	+2.8%	—	—	—
Q4 25	$2.14	$2.47	+15.4%	—	—	—
Q3 25	$1.96	$2.01	+2.6%	—	—	—
Q2 25	$1.78	$1.81	+1.7%	—	—	—
Q1 25	$1.7	$1.9	+11.8%	—	—	—
Q4 24	$1.55	$2.02	+30.3%	—	—	—
Q3 24	$1.6	$2.01	+25.6%	—	—	—
Q2 24	-$1.52	-$1.32	+13.2%	—	—	—
Q1 24	$1.76	$1.72	-2.3%	—	—	—
Q4 23	$1.92	$2.29	+19.3%	—	—	—
Q3 23	$1.64	$1.66	+1.2%	—	—	—
Q2 23	$1.54	$1.37	-11.0%	—	—	—
Q1 23	$1.5	$1.67	+11.3%	—	—	—
Q4 22	$1.43	$1.9	+32.9%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$6.84	—	—	$29.4B	—
FY24	—	$0.38	—	—	$28.8B	—
FY23	—	$4.54	—	—	$27.1B	—
FY22	—	$3.66	—	—	$27.3B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$30.4B	$26.1B	$22.1B	$22.4B	$24.7B	$27.3B	$27.3B	$27.1B	$28.8B	$29.4B
YoY change	-6.89%	-14.1%	-15.2%	+1.46%	+9.98%	+10.6%	-0.09%	-0.6%	+6.04%	+2.39%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	30.4B	26.1B	22.1B	22.4B	24.7B	27.3B	27.3B	27.1B	28.8B	29.4B
Cost of revenue	4.3B	4.4B	4.9B	4.7B	4.6B	6.6B	5.7B	6.5B	6.3B	6.2B
Gross profit	26.1B	21.7B	17.3B	17.8B	20.1B	20.7B	21.6B	20.6B	22.5B	23.2B
Gross margin	86%	83.3%	78.1%	79.2%	81.5%	75.8%	79.3%	76%	78.3%	78.8%
Research & development	5.1B	3.7B	3.9B	4.1B	5B	4.6B	5B	5.7B	5.9B	5.8B
Selling, general & administrative	3.4B	3.9B	4.1B	4.4B	5.2B	5.2B	5.7B	6.1B	6.1B	5.7B
Operating expenses	8.5B	7.6B	8B	8.4B	10.2B	9.8B	10.7B	11.8B	12B	11.5B
Operating income	17.6B	14.1B	9.3B	9.3B	9.9B	10.9B	11B	8.8B	10.5B	11.7B
Operating margin	58%	54.1%	42%	41.6%	40.2%	39.8%	40.2%	32.5%	36.5%	39.7%
Non-operating income, net	428M	523M	-422M	-3.2B	-7.3B	-1.6B	-4.2B	-1B	-9.1B	-1.2B
Pretax income	17.1B	13.5B	7.8B	5.2B	1.7B	8.3B	5.8B	6.9B	690M	9.8B
Income tax	3.6B	8.9B	2.3B	-204M	1.6B	2.1B	1.2B	1.2B	211M	1.3B
Net income	13.5B	4.6B	5.5B	5.4B	89M	6.2B	4.6B	5.6B	480M	8.5B
Net margin	44.4%	17.8%	24.7%	23.9%	0.36%	22.7%	16.7%	20.7%	1.67%	28.9%
EBITDA	19.2B	15.9B	11.4B	12.6B	10B	12.3B	12.5B	11.7B	13.6B	14.8B
EPS	10.1	3.54	4.2	4.24	0.1	4.96	3.66	4.54	0.38	6.84
Diluted EPS	9.94	3.51	4.17	4.22	0.1	4.93	3.64	4.5	0.38	6.78

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	7B	7.1B	6.7B	7B	7.5B	7.6B	6.7B	7.1B	7.8B	7.9B	7B	7.8B
Cost of revenue	1.6B	2.1B	1.6B	1.5B	1.6B	1.6B	1.5B	1.5B	1.6B	1.6B	1.4B	1.6B
Gross profit	5.5B	5B	5.1B	5.4B	6B	6B	5.1B	5.6B	6.2B	6.3B	5.5B	6.2B
Gross margin	77.8%	70.6%	76.8%	77.8%	79.1%	79.1%	76.9%	78.8%	79.8%	79.5%	79.2%	79.8%
Research & development	1.5B	1.4B	4B	1.4B	1.4B	1.6B	1.4B	1.5B	1.3B	1.6B	1.4B	1.8B
Selling, general & administrative	1.3B	1.6B	1.4B	1.4B	1.4B	1.9B	1.3B	1.4B	1.4B	1.7B	1.5B	1.9B
Operating expenses	2.8B	3B	5.3B	2.7B	2.8B	3.5B	2.6B	2.9B	2.7B	3.3B	2.8B	3.7B
Operating income	2.7B	2B	-191M	2.7B	3.1B	2.4B	2.5B	2.7B	3.5B	3B	2.7B	2.5B
Operating margin	38.5%	28.2%	-2.86%	38.6%	41.7%	32.2%	37.3%	38.5%	45%	37.7%	38.7%	32.5%
Non-operating income, net	-269M	-104M	-4B	-393M	-2B	-110M	-675M	-115M	312M	-750M	33M	-12.6B
Pretax income	2.3B	1.7B	-4.5B	2.1B	956M	2.2B	1.6B	2.4B	3.6B	2.1B	2.6B	-10.3B
Income tax	146M	237M	-315M	438M	-297M	385M	334M	468M	589M	-105M	559M	242M
Net income	2.2B	1.4B	-4.2B	1.6B	1.3B	1.8B	1.3B	2B	3.1B	2.2B	2B	-10.5B
Net margin	30.8%	19.9%	-62.4%	23.2%	16.6%	23.6%	19.7%	27.7%	39.3%	27.5%	29%	-134.5%
EBITDA	3.5B	3B	589M	3B	3.9B	3.2B	3.3B	3.5B	4.3B	3.8B	3.5B	3.3B
EPS	1.75	1.15	-3.34	1.29	1	1.43	1.06	1.57	2.46	1.76	1.63	-8.45
Diluted EPS	1.73	1.14	-3.34	1.29	1	1.42	1.04	1.56	2.43	1.74	1.61	-8.45

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	95.9B	93.6B	81.2B	82.5B	73.2B	91.2B	107.7B	101.1B	115.2B	152.7B	188.7B
Enterprise value	110.3B	101.7B	78.4B	82.8B	97.2B	111.4B	126.6B	118.8B	130.3B	168B	208.4B
Shares outstanding	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.2B	1.2B	1.2B	1.2B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	7.11	20.2	14.9	15.4	822.8	14.7	23.6	18	240	17.9	17.9
P/S	3.16	3.59	3.67	3.68	2.97	3.34	3.95	3.73	4.01	5.19	6.16
P/B	4.95	4.57	3.77	3.64	4.02	4.33	5.08	4.44	5.98	6.75	15.9
EV/EBITDA	5.74	6.38	6.88	6.56	9.73	9.08	10.1	10.2	9.62	11.3	14.3
EV/Sales	3.63	3.89	3.54	3.69	3.94	4.08	4.64	4.38	4.53	5.71	6.84
Earnings yield	14.1%	4.96%	6.72%	6.5%	0.12%	6.8%	4.24%	5.55%	0.42%	5.57%	5.6%
FCF yield	17%	12.1%	9.21%	10.1%	10.3%	11.8%	7.74%	7.34%	8.95%	6.19%	5.18%
PEG	—	—	—	—	—	—	—	—	—	—	-0.03

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	86%	83.3%	78.1%	79.2%	81.5%	75.8%	79.3%	76%	78.3%	78.8%	79.8%
Operating margin	58%	54.1%	42%	41.6%	40.2%	39.8%	40.2%	32.5%	36.5%	39.7%	33.7%
Net margin	44.4%	17.8%	24.7%	23.9%	0.36%	22.7%	16.7%	20.7%	1.67%	28.9%	-10.6%
ROE	69.7%	22.7%	25.4%	23.7%	0.49%	29.4%	21.5%	24.7%	2.49%	37.6%	-20.7%
ROA	23.7%	6.61%	8.57%	8.7%	0.13%	9.13%	7.23%	9.04%	0.81%	14.4%	14.1%
ROIC	41.1%	17%	34.7%	40.8%	1.25%	19.7%	21.5%	17.8%	21.2%	26.8%	33.7%
Return on tangible assets	36.8%	16.7%	22.8%	20.8%	-0.63%	-39.7%	-40.6%	-75.7%	19.4%	100.8%	-69.4%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.12	2.74	3.38	3.1	1.4	1.27	1.29	1.43	1.6	1.55	1.26
Quick ratio	1.95	2.67	3.3	3.01	1.26	1.13	1.15	1.27	1.45	1.4	1.09
Debt / equity	1.36	1.64	1.27	1.09	1.72	1.27	1.19	1.1	1.39	1.1	2.23
Debt / assets	0.46	0.48	0.43	0.4	0.46	0.39	0.4	0.4	0.45	0.42	0.53
Net debt / EBITDA	0.75	0.5	-0.24	0.02	2.4	1.64	1.51	1.51	1.12	1.03	1.56
Interest coverage	18.7	13.1	8.24	6.19	2.7	9.27	7.22	8.27	1.71	10.6	-0.96
Effective tax rate	21.1%	65.7%	30%	0%	94.7%	25.1%	21.5%	18.2%	30.6%	13.1%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	22.7	20	17	17.7	19.6	21.7	21.7	21.7	23.1	23.7	24.5
EPS (basic)	10.1	3.54	4.2	4.24	0.1	4.96	3.66	4.54	0.38	6.84	6.84
EPS (diluted)	9.94	3.51	4.17	4.22	0.1	4.93	3.64	4.5	0.38	6.78	-2.66
Book value per share	14.5	15.7	16.6	17.8	14.5	16.8	16.9	18.2	15.4	18.2	9.53
FCF per share	12.2	8.65	5.76	6.55	5.98	8.6	6.65	5.95	8.26	7.6	10.4
Cash per share	8.88	19.5	23.2	19.2	5.89	5.19	5.09	5.82	9.28	7.73	3.94

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Payout ratio	18.2%	58.8%	54.4%	60.1%	3.9K%	58.1%	81.2%	67.9%	816.3%	47%	43.4%
Dividend yield	2.56%	2.92%	3.66%	3.9%	4.71%	3.95%	3.44%	3.77%	3.4%	2.62%	2.16%

Yield

2.16%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.82

ex-dividend Sep 15, 2026

Payout ratio

43%

of earnings

Dividend growth

10 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 15, 2026	$0.82
Jun 15, 2026	$0.82
Mar 13, 2026	$0.82
Dec 15, 2025	$0.79
Sep 15, 2025	$0.79
Jun 13, 2025	$0.79

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$7B	$7.1B	$6.7B	$7B	$7.5B	$7.6B	$6.7B	$7.1B	$7.8B	$7.9B	$7B	$7.8B
YoY change	+0.11%	-3.72%	+5.26%	+5.36%	+7.02%	+6.4%	-0.28%	+1.84%	+2.97%	+4.69%	+4.39%	+10.2%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	11.9B	25.5B	30.1B	24.4B	7.4B	6.5B	6.4B	7.3B	11.6B	9.6B
Receivables	4.5B	3.9B	3.3B	3.6B	4.9B	4.5B	4.8B	4.7B	4.4B	4.9B
Inventory	1.6B	801M	814M	922M	1.7B	1.6B	1.5B	1.8B	1.7B	1.8B
Total current assets	19.6B	31.8B	35.8B	30.3B	16B	14.8B	14.4B	16.1B	19.2B	18.3B
Property, plant & equipment	1.2B	1.1B	1.7B	1.1B	1.3B	1.3B	1.1B	989M	874M	983M
Goodwill & intangibles	20.3B	42.5B	39.7B	35.8B	82.5B	83.6B	74.4B	69.5B	56.5B	50.6B
Total assets	57B	70.3B	63.7B	61.6B	68.4B	68B	63.2B	62.1B	59B	59B
Accounts payable	1.2B	814M	790M	713M	844M	705M	905M	550M	833M	715M
Short-term debt	—	2.7B	2.7B	2.5B	2.8B	1.5B	2.3B	1.8B	1.8B	2.8B
Total current liabilities	9.2B	11.6B	10.6B	9.8B	11.4B	11.6B	11.2B	11.3B	12B	11.8B
Long-term debt	26.3B	30.8B	24.6B	22.1B	28.6B	25.2B	23B	23.2B	24.9B	22.1B
Total liabilities	37.6B	49.8B	42.1B	39B	50.2B	46.9B	42B	39.4B	39.7B	36.4B
Shareholders' equity	19.4B	20.5B	21.5B	22.6B	18.2B	21.1B	21.2B	22.7B	19.2B	22.6B
Total debt	26.3B	33.5B	27.3B	24.6B	31.4B	26.7B	25.2B	25B	26.7B	24.9B
Net debt	18.1B	26B	9.4B	13B	25.4B	21.4B	19.8B	18.9B	16.7B	17.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	—	—	—	—	—	—	—	—	7.3B	9.6B	7.6B	3.2B
Receivables	—	—	—	—	—	—	—	—	5.1B	4.9B	4.7B	5.1B
Inventory	—	—	—	—	—	—	—	—	1.8B	1.8B	1.9B	2B
Total current assets	—	—	—	—	—	—	—	—	17.9B	18.3B	18.6B	13.9B
Property, plant & equipment	—	—	—	—	—	—	—	—	-2.7B	983M	-2.8B	-2.9B
Goodwill & intangibles	—	—	—	—	—	—	—	—	52.6B	50.6B	49.4B	44.7B
Total assets	—	—	—	—	—	—	—	—	58.5B	59B	56.3B	49.4B
Accounts payable	586M	550M	622M	537M	903M	833M	737M	582M	808M	715M	645M	674M
Short-term debt	—	—	—	—	—	—	—	—	2.8B	2.8B	1.3B	2.4B
Total current liabilities	—	—	—	—	—	—	—	—	12.3B	11.8B	9.5B	11B
Long-term debt	—	—	—	—	—	—	—	—	22.1B	22.1B	20.9B	23.8B
Total liabilities	—	—	38.8B	35.4B	36.1B	39.7B	37.4B	36.1B	37.1B	36.4B	32.8B	37.6B
Shareholders' equity	—	—	—	—	—	—	—	—	21.5B	22.6B	23.4B	11.7B
Total debt	—	—	—	—	—	—	—	—	24.9B	24.9B	22.2B	26.2B
Net debt	—	—	—	—	—	—	—	—	17.6B	17.4B	14.5B	23.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	13.5B	4.6B	5.5B	5.4B	89M	6.2B	4.6B	5.6B	480M	8.5B
Depreciation & amortization	1.2B	1.3B	1.4B	1.4B	1.5B	2B	2.1B	2.7B	2.8B	2.8B
Stock-based compensation	380M	638M	845M	636M	643M	635M	637M	766M	835M	894M
Change in working capital	447M	71M	131M	-374M	-1.3B	-155M	-854M	-2.8B	-729M	-3.6B
Operating cash flow	15.5B	6.9B	8.3B	9.5B	6.8B	10.1B	6.6B	7.3B	6.5B	10B
Capital expenditure	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-11.2B	-15.5B	15.3B	-7B	-14B	-2.6B	-1.7B	-1.7B	-2.9B	-4.2B
Dividends paid	-2.5B	-2.7B	-3B	-3.2B	-3.4B	-3.6B	-3.7B	-3.8B	-3.9B	-4B
Share repurchases	-11B	-954M	-2.9B	-1.7B	-1.6B	-546M	-1.4B	-1B	-1.1B	-1.9B
Financing cash flow	-9.3B	3.4B	-12.3B	-7.6B	770M	-8.9B	-6.5B	-5.1B	-3.4B	-7.7B
Net change in cash	-5B	-5.2B	11.3B	-5.2B	-6.4B	-1.3B	-1.6B	487M	166M	-2B
Free cash flow	16.3B	11.3B	7.5B	8.3B	7.5B	10.8B	8.3B	7.4B	10.3B	9.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	2.2B	1.4B	-4.2B	1.6B	1.3B	1.8B	1.3B	2B	3.1B	2.2B	2B	-10.5B
Depreciation & amortization	684M	688M	690M	694M	690M	693M	696M	691M	686M	687M	689M	698M
Stock-based compensation	202M	201M	187M	210M	216M	222M	209M	225M	230M	230M	218M	231M
Change in working capital	-1.6B	-828M	-247M	-1.4B	547M	324M	-801M	-1.9B	-740M	-173M	-14M	-289M
Operating cash flow	1.5B	2B	-13M	1.1B	2.7B	2.7B	1.6B	827M	4.1B	3.3B	2.5B	3.6B
Capital expenditure	—	—	—	—	—	—	-104M	—	—	—	—	—
Investing cash flow	-113M	-512M	-2.1B	-177M	-569M	-78M	-415M	-2B	-280M	-1.6B	1.9B	-10.2B
Dividends paid	-953M	-943M	-990M	-972M	-983M	-973M	-1B	-994M	-1B	-994M	-1B	-1B
Share repurchases	-300M	-150M	-400M	-100M	-300M	-350M	-730M	-527M	-435M	-230M	-419M	-355M
Financing cash flow	-3.5B	-1.1B	-1.4B	-3B	-1.4B	2.3B	-3.4B	-1.6B	-1.5B	-1.3B	-4.2B	-1.7B
Net change in cash	-2.1B	412M	-3.5B	-2B	773M	4.9B	-2.3B	-2.7B	2.3B	434M	192M	-8.4B
Free cash flow	1.6B	2B	2.1B	1.2B	4.2B	2.8B	1.7B	720M	4B	3.1B	2.4B	3.4B

Date	Ratio
Jan 28, 2013	2:1
Jun 25, 2007	2:1
Sep 7, 2004	2:1
Mar 8, 2002	2:1
Feb 22, 2001	2:1

Gilead Sciences, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history