Gilead Sciences

Health Care Biotechnology Foster City, California Last filing Feb 24, 2026 · FY2025

                    Revenue
                    FY2025
                
$29.4B
                    3y CAGR +2.6%
                    
                    P35
                    
                    +2.4%
                    
                    Net income
                    FY2025
                
$8.5B
                    Net margin +28.9%
                    
                    P96
                    
                    +1672.9%
                    
                    Total assets
                    FY2025
                
$59.0B
                    ROA +14.4%
                    
                    P88
                    
                    +0.0%
                    
                    Operating cash flow
                    FY2025
                
$10.0B
                    FCF margin +32.1%
                    
                    P98
                    
                    -7.5%

19 yrs · FY2007–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

29 accounts · 3 years

Total assets $59.0B

Total liabilities ~$36.3B

Shareholders equity $22.7B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	25.7%	34.7%	22.4%
Short Term Investments	0.2%	0.0%	4.3%
Accounts Receivable	16.7%	15.4%	17.2%
Inventory	6.0%	5.9%	6.6%
Prepaid Expenses	13.7%	10.6%	8.8%
Total Current Assets	62.3%	66.7%	59.3%
Property,Plant and Equipment	19.0%	18.8%	19.6%
Goodwill	28.2%	28.9%	30.7%
Intangible Assets	57.7%	69.4%	97.6%
Long Term Investments	10.1%	0.0%	4.3%
Deferred Tax Assets	6.7%	8.3%	—
Other Noncurrent Assets	16.5%	13.1%	17.7%
Total Assets	200.5%	205.2%	229.1%
Liabilities
Accounts Payable	2.4%	2.9%	2.0%
Accrued Liabilities	14.7%	13.5%	14.0%
Current Portion of Long Term Debt	9.5%	6.3%	6.6%
Other Current Liabilities	13.4%	19.0%	18.9%
Total Current Liabilities	40.1%	41.7%	41.6%
Long Term Debt	75.2%	86.6%	85.5%
Deferred Tax Liabilities	1.4%	2.5%	5.9%
Other Noncurrent Liabilities	7.0%	7.4%	12.2%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	30.3%	26.8%	24.0%
Retained Earnings	46.6%	40.0%	60.1%
Accumulated Other Comprehensive Income	0.1%	0.5%	0.1%
Total Stockholders Equity	77.1%	67.2%	84.2%
Noncontrolling Interest	-0.3%	-0.3%	-0.3%
Total Liabilitiesand Equity	200.5%	205.2%	229.1%

Income Statement

Revenue, expense, and profitability

17 accounts · 3 years

Revenue $29.4B

Operating income $10.0B

Net income $8.5B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%
Expenses Cost of Revenue	21.2%	21.7%	24.0%
Expenses Research and Development	19.7%	20.5%	21.1%
Expenses Selling,General and Administrative	19.6%	21.2%	22.5%
Expenses Restructuring and Asset Impairment	2.0%	14.5%	0.2%
Expenses Other Operating Expenses	3.5%	16.2%	4.3%
Other Income Expense Operating Income	34.0%	5.8%	28.0%
Other Income Expense Interest Expense	3.5%	3.4%	3.5%
Other Income Expense Other Income/expense	2.7%	0.0%	0.7%
Other Income Expense Income Before Tax	33.3%	2.4%	25.3%
Income Tax Income Tax Expense	4.4%	0.7%	4.6%
net Income Other Items Below Tax	0.0%	0.0%	0.2%
net Income net Income	28.9%	1.7%	20.9%
net Income Comprehensive Income	28.6%	2.0%	21.0%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	4.3%	4.4%	4.6%

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 3 years

Operating cash flow $10.0B

Investing cash flow $-4.8B

Financing cash flow $-7.7B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	28.9%	1.7%	20.7%
Operating Activities Depreciation and Amortization	9.4%	9.6%	9.9%
Operating Activities Stock Based Compensation	3.0%	2.9%	2.8%
Operating Activities Deferred Income Taxes	0.5%	-6.4%	-3.5%
Operating Activities Changes In Operating Assets and Liabilities	-14.9%	-2.1%	-7.9%
Operating Activities Other Non Cash Items	7.1%	32.0%	7.5%
Operating Activities net Cash From Operating Activities	34.0%	37.7%	29.5%
Investing Activities Capital Expenditures	-1.9%	-1.8%	-2.2%
Investing Activities Business Acquisitions	-3.6%	-16.8%	-4.2%
Investing Activities Purchases of Investments	-13.8%	-2.6%	-8.7%
Investing Activities Proceeds From Sale of Investments	3.1%	9.0%	6.8%
Investing Activities Other Investing Activities	0.0%	0.2%	-0.0%
Investing Activities net Cash From Investing Activities	-16.3%	-12.0%	-8.4%
Financing Activities Proceeds From Debt	0.0%	12.0%	7.3%
Financing Activities Repayment of Debt	-6.1%	-6.9%	-8.3%
Financing Activities Repurchase of Common Stock	-6.5%	-4.0%	-3.7%
Financing Activities Dividends Paid	-13.6%	-13.6%	-14.0%
Financing Activities Proceeds From Stock Issuance	1.4%	1.5%	0.9%
Financing Activities Other Financing Activities	-1.5%	-1.0%	-1.0%
Financing Activities net Cash From Financing Activities	-26.3%	-11.9%	-18.9%
Cash Reconciliation Effect of Exchange Rate On Cash	0.3%	-0.1%	0.2%
Cash Reconciliation net Change In Cash	-8.2%	13.6%	2.5%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+78.8%	+78.3%	+76.0%
Operating margin	+34.0%	+5.8%	+28.0%
Net margin	+28.9%	+1.7%	+20.9%
FCF margin	+32.1%	+35.8%	+27.4%
Growth
Revenue CAGR (3y)	+2.6%	+1.7%	+3.2%
Returns
ROE	+37.5%	+2.5%	+24.8%
ROA	+14.4%	+0.8%	+9.1%
ROIC	+21.7%	+3.2%	+14.9%
Liquidity
Current ratio	1.55x	1.60x	1.43x
Quick ratio	1.06x	1.20x	0.95x
Leverage
D/E	1.60x	2.05x	1.72x
Interest coverage	9.79x	1.70x	8.06x
Efficiency
Asset turnover	0.50x	0.49x	0.44x
Cash conversion cycle	+123d	+107d	+132d

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Gilead Sciences

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