Biogen vs Gilead Sciences
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KIRA’s take AI analyst
I put Biogen and Gilead Sciences side by side, using each one’s latest annual report. Here is what stands out:
- Gilead Sciences is the larger business, with $29.4B of revenue in fiscal 2025 against $9.9B for Biogen, about 3.0 times as much.
- Gilead Sciences turned more of its sales into free cash flow (32.1% FCF margin, against 20.7%).
- Gilead Sciences earned a higher return on the capital invested in it (23.0%, against 7.3%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Biogen
BIIB
1/10
Net debt / EBITDA
Gilead Sciences
GILD
9/10
Revenue growth5-year growthGross marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreShare count change
Side by side
Best in the row
| Latest fiscal year | BIIB FY25 | GILD FY25 |
|---|---|---|
| Size | ||
| Market cap | $37.2B | $194.0B |
| Revenue | $9.9B | $29.4B |
| Free cash flow | $2.1B | $9.5B |
| Net income | $1.3B | $8.5B |
| Growth | ||
| Revenue growth | 2.2% | 2.4% |
| 5-year growth | −6.0% | 3.6% |
| Share count change | 0.8% | 0.0% |
| Profitability | ||
| Gross margin | 75.7% | 78.8% |
| Operating margin | — | 34.0% |
| Net margin | 13.1% | 28.9% |
| FCF margin | 20.7% | 32.1% |
| Return on capital | 7.3% | 23.0% |
| Return on equity | 7.4% | 40.5% |
| Balance sheet | ||
| Net debt | $2.5B | $17.3B |
| Net debt / EBITDA | 1.0x | 1.4x |
| Dividends and buybacks | $0.0M | $5.9B |
| Valuation & quality | ||
| P/E | 27.0x | — |
| Piotroski F-score | 5 | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.