FirmAtlas
Company handbook · GILD · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
GILD · CIK 882095 · LATEST FILING: 10-Q JUN '26 · FILED AUG 6, 2026
GILEAD SCIENCES, INC.
$156.19
−1.18 (−0.75%)
Close, Oct 16, 2026 · 52-week $114–161
Last fiscal year
GILEAD SCIENCES, INC. reported revenue of $29.4B for the year ended Dec 31, 2025 (FY25), up 2.4% from FY24. Net income was $8.5B, operating cash flow $10.0B and free cash flow $9.5B. Source: 10-K filed Feb 24, 2026.
Market cap
$193.8B
EV/EBITDA
20.6x
P/B
16.4
Div yield
2.08%
ROIC
21.6%
Revenue 1Y
2.4%/yr
EPS 1Y
1684.2%/yr
Shares 1Y
−0.4%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEODaniel P. O’Day
HQFoster City, CA
AuditorErnst & Young LLP
Employees17,000
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
7.9%
18.2%
25.4%
32.5%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$18.0B deployed
Capex
$1.1B
6.0%
Acquisitions
$5.9B
32.9%
Dividends
$7.9B
44.0%
Buybacks
$3.1B
17.1%
Operating cash flow over the period: $20.8B. Total debt changed by −$781M. R&D of $11.7B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
28,754
29,443+2.4%
30,457
YoY
+2.4%
Gross profit
22,503
23,209+3.1%
24,240
Gross margin
78.3%
78.8%+0.6 pp
—
Operating income
1,662
10,022+503.0%
(2,497)
Operating margin
5.8%
34.0%+28.3 pp
—
EBITDA
2,043
10,392+408.7%
—
EBITDA margin
7.1%
35.3%+28.2 pp
—
Interest expense
977
1,024+4.8%
—
Interest coverage
2.09x
10.15x+8.06x
—
Net income
480
8,510+1672.9%
(3,240)
YoY
+1672.9%
Net margin
1.7%
28.9%+27.2 pp
—
EPS (diluted, $)
0.38
6.78+1684.2%
−2.65
YoY
+1684.2%
Balance sheet
Total assets
58,995
59,023+0.0%
49,362
Cash & short-term investments
9,991
7,632−23.6%
—
Accounts receivable
4,420
4,913+11.2%
—
Inventory
1,710
1,774+3.7%
—
Net PP&E
5,414
5,606+3.5%
—
Other assets
37,460
39,098+4.4%
—
Total liabilities
39,665
36,320−8.4%
37,533
Accounts payable
833
715−14.2%
—
Total debt
28,525
27,744−2.7%
28,660
Other liabilities
10,307
7,861−23.7%
—
Shareholders’ equity
19,330
22,703+17.4%
11,829
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
10,828
10,019−7.5%
13,552
Net income
480
8,510+1672.9%
—
Depreciation & amortization
381
370−2.9%
—
Stock-based compensation
835
894+7.1%
—
Working capital & other
9,132
245−97.3%
—
Cash from investing
(3,449)
(4,793)n/m
—
Capex
(523)
(563)n/m
—
Acquisitions
(4,840)
(1,070)n/m
—
Investments bought
(244)
(3,939)n/m
—
Investments sold / matured
327
55−83.2%
—
Other investing
1,831
724−60.5%
—
Cash from financing
(3,433)
(7,745)n/m
—
Debt raised
3,464
0−100.0%
—
Debt repaid
(1,970)
(1,788)n/m
—
Dividends
(3,918)
(4,003)n/m
—
Buybacks
(1,150)
(1,922)n/m
—
Shares issued
422
408−3.3%
—
Other financing
(281)
(440)n/m
—
Net change in cash
3,906
(2,428)−162.2%
—
Free cash flow (OCF − capex)
10,305
9,456−8.2%
12,943
Where the cash went
Operating cash flow
10,828
10,019−7.5%
13,552
Reinvested in the business
5,363
1,633−69.6%
—
% of operating cash flow
49.5%
16.3%
Capex
523
563+7.6%
609
Acquisitions
4,840
1,070−77.9%
—
R&D (memo, already in costs)
5,907
5,799−1.8%
—
Free cash flow
10,305
9,456−8.2%
12,943
YoY
−8.2%
Returned to shareholders
5,068
5,925+16.9%
—
% of free cash flow
49.2%
62.7%
Dividends
3,918
4,003+2.2%
—
Buybacks
1,150
1,922+67.1%
—
Change in total debt
—
(781)
—
Cash left over
—
1,680
—
FCF conversion (FCF ÷ net income)
2146.9%
111.1%−2035.8 pp
—
Owner earnings
—
7,642
—
Owner earnings margin
—
26.0%
—
Buyback yield
1.0%
1.3%+0.3 pp
—
Returns & ratios
ROIC (all capital)
3.0%
21.6%+18.5 pp
—
ROIC (operating)
10.8%
78.1%+67.4 pp
—
Net debt / EBITDA
9.07x
1.94x−7.14x
—
Debt / equity
1.48x
1.22x−0.25x
—
Cash conversion cycle (days)
107
123+16 d
—
ROE
2.5%
37.5%+35.0 pp
—
ROA
0.8%
14.4%+13.6 pp
—
ROCE
3.5%
21.2%+17.7 pp
—
NOPAT
1,154
8,706+654.6%
—
Invested capital (operating)
10,711
11,578+8.1%
—
Invested capital (all)
37,864
42,815+13.1%
—
Reinvestment rate
—
10.0%
—
Debtor days
56
61+5 d
—
Inventory days
100
104+4 d
—
Days payable
49
42−7 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
7,769
7,925
6,960
7,803
vs year-ago quarter
Gross profit
6,200
6,301
5,515
6,224
Gross margin
79.8%
79.5%
79.2%
79.8%
Operating income
3,327
1,984
2,586
(10,394)
Net income
3,052
2,183
2,021
(10,496)
vs year-ago quarter
Net margin
39.3%
27.5%
29.0%
−134.5%
EPS (diluted, $)
2.43
1.76
1.61
−8.45
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
58,533
59,023
56,278
49,362
Cash & equivalents
7,330
7,632
7,628
3,179
Total debt
27,747
27,744
23,487
28,660
Shareholders’ equity
21,540
22,703
23,515
11,829
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
4,108
3,327
2,544
3,573
Capex
147
205
117
140
Free cash flow
3,961
3,122
2,427
3,433
vs year-ago quarter