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Gilead Sciences

GILD Nasdaq Biotechnology Financials FY2016–FY2025

Gilead Sciences' revenue rose 2.4% to $29.4 billion in fiscal 2025. Its operating margin was 34.0%, up from 5.8% a year earlier. Free cash flow was $9.5 billion, down 8.2%. It paid out $5.9 billion in dividends and buybacks, 63% of free cash flow.

Last close · Oct 23, 2026

$156.04

0.7%
Value it Compare
Revenue Total sales reported in the income statement.
$29.4B
2.4% vs prior year
Operating margin Operating income as a share of revenue.
34.0%
28.3 pts
Net income Profit after all expenses, interest and tax.
$8.5B
1,672.9%
Free cash flow Cash from operations minus capital spending.
$9.5B
8.2%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
23.0%
19.9 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$194.0B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Gilead Sciences does

No business description yet.

Legal name
GILEAD SCIENCES, INC.
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0000882095-26-000006
0000882095

Revenue and margins

Gilead Sciences had $29.4B of revenue in fiscal 2025, up 2.4% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew −4.2% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $9.5B in fiscal 2025, 32.1% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Gilead Sciences returned $5.9B to shareholders in fiscal 2025, 63% of free cash flow. The diluted share count rose 0.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Gilead Sciences yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of −$17.3B and divides by 1,255.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Gilead Sciences can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $6.5B$6.4B$7.3B$10.0B$7.6B
Debt incl. finance leases $26.7B$25.2B$25.0B$26.7B$24.9B
Net debt / EBITDA 1.7x2.0x1.7x3.8x1.4x
Debt / equity 1.3x1.2x1.1x1.4x1.1x
Interest coverage 9.9x7.8x8.1x1.7x9.8x
Current ratio 1.3x1.3x1.4x1.6x1.6x
Quick ratio 1.1x1.2x1.3x1.5x1.4x
Total assets $68.0B$63.2B$62.1B$59.0B$59.0B
Total liabilities $46.9B$42.0B$39.4B$39.7B$36.4B
Shareholders' equity $21.1B$21.2B$22.8B$19.3B$22.7B
Net debt (− = net cash) $20.2B$18.8B$17.7B$16.7B$17.3B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$16.2M

5 insiders

Of sales under plans

100%

$16.2M

DateInsiderTradeSharesPriceValueFiling
Oct 15, 2026 Andrew D DickinsonChief Financial Officer Sold plan 3,000 $156.22 $0.5M Form 4
Oct 1, 2026 Daniel Patrick O'DayChairman & CEO, Director Sold plan 15,000 $147.90 $2.2M Form 4
Sep 15, 2026 Andrew D DickinsonChief Financial Officer Sold plan 3,000 $145.29 $0.4M Form 4
Sep 15, 2026 Johanna MercierChief Comm & Corp Aff Officer Sold plan 3,000 $144.22 $0.4M Form 4
Sep 1, 2026 Daniel Patrick O'DayChairman & CEO, Director Sold plan 15,000 $148.64 $2.2M Form 4
Aug 26, 2026 Anthony WeltersDirector Sold plan 18,000 $148.62 $2.7M Form 4
Aug 20, 2026 Jeffrey BluestoneDirector Sold plan 5,000 $145.01 $0.7M Form 4
Aug 17, 2026 Andrew D DickinsonChief Financial Officer Sold plan 3,000 $138.36 $0.4M Form 4
Aug 17, 2026 Johanna MercierChief Comm & Corp Aff Officer Sold plan 28,000 $137.64 $3.9M Form 4
Aug 3, 2026 Daniel Patrick O'DayChairman & CEO, Director Sold plan 15,000 $130.31 $2.0M Form 4
Jul 15, 2026 Andrew D DickinsonChief Financial Officer Sold plan 3,000 $129.93 $0.4M Form 4
Jul 15, 2026 Johanna MercierChief Comm & Corp Aff Officer Sold plan 3,000 $129.92 $0.4M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✓
Current ratio rose ✓ ✓ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✕ ✓ ✓
Revenue rose relative to assets ✓ ✓ ✓
F-score 7 / 97 / 98 / 9
Accruals ratio −3.7%−17.1%−2.6%
Altman Z'' 2.792.133.28

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Gilead Sciences GILD $194.0B 2.4% 34.0% 32.1% 23.0% — 8
Amgen AMGN $239.0B 10.0% 24.7% 22.0% 14.4% 27.3x 7 Compare →
Regeneron Pharmaceuticals REGN $85.3B 1.0% 25.0% 28.5% 12.7% 19.9x 5 Compare →
AbbVie ABBV $505.9B 8.6% 24.7% 29.1% 15.7% 80.7x 7 Compare →
Vertex Pharmaceuticals VRTX $133.7B 8.9% 34.8% 26.6% 31.5% 30.5x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $30.4B $26.1B $22.1B $22.4B $24.7B $27.3B $27.3B $27.1B $28.8B $29.4B
Gross profit $26.1B $21.7B $17.3B $17.8B $20.1B $20.7B $21.6B $20.6B $22.5B $23.2B
Research and development $5.1B $3.7B $5.0B $9.1B $4.9B $4.6B $5.0B $5.7B $5.9B $5.8B
Operating income $17.6B $14.1B $8.2B $4.3B $4.1B $9.9B $7.3B $7.6B $1.7B $10.0B
Interest expense $964M $1.1B $1.1B $995M $984M $1.0B $935M $944M $977M $1.0B
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 $123M $6.2B $4.6B $5.7B $480M $8.5B
Diluted EPS $9.94 $3.51 $4.17 $4.22 $0.10 $4.93 $3.64 $4.50 $0.38 $6.78
Diluted shares 1.36B 1.32B 1.31B 1.28B 1.26B 1.26B 1.26B 1.26B 1.26B 1.26B
Cash flow
Cash from operations $17.0B $11.9B $8.4B $9.1B $8.2B $11.4B $9.1B $8.0B $10.8B $10.0B
Capital expenditure $748M $590M $924M $825M $650M $579M $728M $585M $523M $563M
Free cash flow $16.3B $11.3B $7.5B $8.3B $7.5B $10.8B $8.3B $7.4B $10.3B $9.5B
Depreciation and amortization $177M $233M $226M $255M $1.5B $2.0B $2.1B $2.7B $2.8B $2.8B
Stock-based compensation $380M $638M $845M $636M $643M $635M $637M $766M $835M $894M
Acquisitions $0.0M $10.4B $0.0M $4.3B $25.9B $1.6B $1.8B $1.2B $4.8B $1.1B
Share buybacks $11.0B $954M $2.9B $1.7B $1.6B $546M $1.4B $1.0B $1.2B $1.9B
Dividends paid $2.5B $2.7B $3.0B $3.2B $3.4B $3.6B $3.7B $3.8B $3.9B $4.0B
Dividends and buybacks $13.5B $3.7B $5.9B $5.0B $5.0B $4.2B $5.1B $4.8B $5.1B $5.9B
Balance sheet
Cash and short-term investments $11.9B $25.5B $30.1B $24.4B $7.4B $6.5B $6.4B $7.3B $10.0B $7.6B
Total debt $26.3B $33.5B $27.3B $24.6B $31.4B $26.7B $25.2B $25.0B $26.7B $24.9B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $19.6B $31.8B $35.8B $30.3B $16.0B $14.8B $14.4B $16.1B $19.2B $18.3B
Current liabilities $9.2B $11.6B $10.6B $9.8B $11.4B $11.6B $11.2B $11.3B $12.0B $11.8B
Inventory $1.6B $801M $814M $922M $1.7B $1.6B $1.5B $1.8B $1.7B $1.8B
Property and equipment, net $2.9B $3.3B $4.0B $4.5B $5.0B $5.1B $5.5B $5.3B $5.4B $5.6B
Total assets $57.0B $70.3B $63.7B $61.6B $68.4B $68.0B $63.2B $62.1B $59.0B $59.0B
Total liabilities $37.6B $49.8B $42.1B $39.0B $50.2B $46.9B $42.0B $39.4B $39.7B $36.4B
Shareholders' equity $18.9B $20.4B $21.4B $22.5B $18.2B $21.1B $21.2B $22.8B $19.3B $22.7B
Margins
Gross margin 86.0% 83.3% 78.1% 79.2% 81.5% 75.8% 79.3% 76.0% 78.3% 78.8%
Operating margin 58.0% 54.1% 37.1% 19.1% 16.5% 36.3% 26.9% 28.1% 5.8% 34.0%
EBITDA margin 58.6% 55.0% 38.1% 20.2% 22.5% 43.8% 34.7% 37.8% 15.5% 43.5%
Net margin 44.4% 17.7% 24.7% 24.0% 0.5% 22.8% 16.8% 20.9% 1.7% 28.9%
FCF margin 53.6% 43.3% 33.8% 37.1% 30.5% 39.6% 30.6% 27.4% 35.8% 32.1%
Returns
Return on capital 46.0% 22.7% 24.3% 20.6% 6.3% 17.8% 14.2% 15.5% 3.0% 23.0%
Return on capital employed 39.4% 26.6% 14.7% 8.2% 7.5% 17.5% 13.5% 14.8% 3.4% 21.3%
Return on equity 72.2% 23.5% 26.1% 24.5% 0.6% 31.7% 21.7% 25.7% 2.3% 40.5%
Return on assets 24.8% 7.3% 8.1% 8.6% 0.2% 9.1% 7.0% 9.0% 0.8% 14.4%
Growth
Revenue growth −6.9% −14.1% −15.2% 1.5% 10.0% 10.6% −0.1% −0.6% 6.0% 2.4%
Net income growth −25.4% −65.7% 17.9% −1.3% −97.7% 4,961.0% −26.2% 23.4% −91.5% 1,672.9%
EPS growth −16.5% −64.7% 18.8% 1.2% −97.6% 4,830.0% −26.2% 23.6% −91.6% 1,684.2%
FCF growth −20.5% −30.6% −33.9% 11.3% −9.6% 43.7% −22.8% −11.1% 38.9% −8.2%
Share count change −10.7% −2.9% −0.8% −2.4% −1.1% −0.1% 0.0% −0.3% −0.2% 0.0%
Financial health
Net debt / EBITDA 0.8x 0.6x −0.3x 0.1x 4.3x 1.7x 2.0x 1.7x 3.8x 1.4x
Debt / equity 1.4x 1.6x 1.3x 1.1x 1.7x 1.3x 1.2x 1.1x 1.4x 1.1x
Interest coverage 18.3x 12.6x 7.6x 4.3x 4.1x 9.9x 7.8x 8.1x 1.7x 9.8x
Current ratio 2.1x 2.7x 3.4x 3.1x 1.4x 1.3x 1.3x 1.4x 1.6x 1.6x
Quick ratio 2.0x 2.7x 3.3x 3.0x 1.3x 1.1x 1.2x 1.3x 1.5x 1.4x
Capital allocation
Capex / revenue 2.5% 2.3% 4.2% 3.7% 2.6% 2.1% 2.7% 2.2% 1.8% 1.9%
Stock comp / revenue 1.3% 2.4% 3.8% 2.8% 2.6% 2.3% 2.3% 2.8% 2.9% 3.0%
Payouts / FCF 82.6% 32.6% 78.5% 59.8% 66.9% 38.4% 61.2% 64.8% 49.2% 62.7%
Quality scores
Piotroski F-score 5.0 5.0 6.0 8.0 6.0 6.0 8.0 7.0 7.0 8.0
Altman Z'' 4.9 4.6 5.0 4.3 1.9 2.5 2.5 2.8 2.1 3.3
Accruals ratio −6.5% −11.4% −4.4% −6.0% −12.4% −7.6% −6.8% −3.7% −17.1% −2.6%

Source: SEC EDGAR XBRL filings (CIK 0000882095). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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