Gilead Sciences (GILD)
Health Care · $189B market cap · SEC CIK 0000882095
fundamentals score out of 100
Next reports on Oct 28, 2026, with analysts expecting $2.18 in earnings per share.
The case for GILD
- Generated $9.5B of free cash flow in FY2025, 32% of revenue.
- Pays a 4.0% dividend while you wait.
- Gross margin of 80% absorbs cost shocks.
- Moves less than the market (beta 0.40).
- Within 3% of its 52-week high: the trend is up.
The case against
- Losing money over the last year: net margin -10.6%, return on equity -16%.
- Priced at 6.2× sales with revenue growing only 5.5%.
- Dividend takes 98% of earnings, leaving little cushion.
- Growth is weak (36/100): revenue +5.5%, +3.6% a year over five years.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Health Care companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 45 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 36 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 22 |
| Momentumhow the price has behaved lately | 85 |
| Stabilityhow violently it moves, what it owes and what it pays you | 86 |
- The P/E (22.2×) says it made money over the last year but its net margin (-10.6%) says it lost money, so the P/E is not counted in its favour.
- Each factor except momentum is half fixed thresholds, half rank among the 59 Health Care companies.
Key numbers
| Price / earnings | 22.2× |
|---|---|
| Price / book | 13.26× |
| Price / sales | 6.2× |
| Revenue growth (YoY) | +5.5% |
| EPS growth (YoY) | — |
| Gross margin | 80% |
| Operating margin | -8% |
| Net margin | -11% |
| Return on equity | -16% |
| Debt / equity | 2.22× |
| Current ratio | 1.27 |
| Dividend yield | 3.98% |
| Beta | 0.40 |
| 52-week range | $108.46 – $157.29 |
| Position in that range | 91% of the way up |
| 3-month return | +21.7% |
| 1-year return | +32.0% |
Five years of financials, as filed
Pulled from Gilead Sciences's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $29.4B | $28.8B | $27.1B | $27.3B | $27.3B |
| Operating income | $10.0B | $1.7B | $7.6B | $7.3B | $9.9B |
| Net income | $8.5B | $480M | $5.7B | $4.6B | $6.2B |
| Operating cash flow | $10.0B | $10.8B | $8.0B | $9.1B | $11.4B |
| Capital expenditure | $563M | $523M | $585M | $728M | $579M |
| Total assets | $59.0B | $59.0B | $62.1B | $63.2B | $68.0B |
| Shareholder equity | $22.7B | $19.3B | $22.8B | $21.2B | $21.1B |
| Cash | $7.6B | $10.0B | $6.1B | $5.4B | $5.3B |
| Long-term debt | $22.1B | $24.9B | $23.2B | $23.0B | $25.2B |
| Free cash flow | $9.5B | $10.3B | $7.4B | $8.3B | $10.8B |
| Operating margin | 34.0% | 5.8% | 28.0% | 26.9% | 36.3% |
| Net margin | 28.9% | 1.7% | 20.9% | 16.8% | 22.8% |
| Diluted shares | 1.3B | 1.3B | 1.3B | 1.3B | 1.3B |
Share count is essentially flat over 4 years.
What Gilead Sciences says it does
_______________________________ * Leased property We believe that our existing properties, including both owned and leased sites, are adequate and suitable for the conduct of our business. We believe our capital resources are sufficient to purchase, lease or construct any additional facilities required to meet our expected long-term growth needs. ITEM 3. LEGAL PROCEEDINGS For a description of our significant pending legal proceedings, see Note 12. Commitments and Contingencies - Legal Proceedings of the Notes to Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K. ITEM 4. MINE SAFETY DISCLOSURES Not applicable. 33 PART II ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Our common stock is traded on the Nasdaq Global Select Market under the symbol "GILD." Holders As of February 13, 2026, we had…
Risk factors GILD lists in its 10-K
- (in millions, except percentages and per share amounts)
- Royalty, contract and other revenues
- (Gain) loss from equity securities, net
- Decrease/(Increase) to Product Sales
- Foreign Currency Exchange Rate Risk
- Years Ended December 31, 2025, 2024 and 2023
- Opinion on the Financial Statements
- How We Addressed the Matter in Our Audit
- (in millions, except per share amounts)
- Liabilities and Stockholders’ Equity
- Accumulated Other Comprehensive Income
- Acquired In-Process Research and Development Expenses
- Selling, General and Administrative Expenses
- Acquisitions, including Goodwill, Intangible Assets and Contingent Consideration