Gilead Sciences, Inc. (GILD) financials
NASDAQ · Healthcare · Drug Manufacturers - General · 17,000 employees · CEO Daniel O'Day
- Price
- $170.68 +3.06%
- Market cap
- $212B
- Enterprise value
- $231B
- Last report
- Q3 '26 filed 2026-10-30
- Next report
- 2027-02-09 EPS est. $1.39
Revenue (TTM)$31B+6.5% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)-4.4%-40.4 pp vs a year agoOperating income -$1.36B
Net income (TTM)-$3.86B-147.6% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$14B+53.2% vs a year agoCapex $442M
Diluted EPS (TTM)-$3.16-149.0% vs a year agoSum of the last 4 quarters
Net cash-$19.8B-12.5% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $212B EV $231B
- Revenue
- $31B Trailing 12 months
- Revenue growth
- +6% FY2026 consensus
- Profit margin
- -12.5% Net income / revenue, TTM
- P/E
- -55.1× Forward -213.4× (FY2026)
- P/S
- 6.8× Price / sales, TTM
- EV / EBITDA
- 281.2× TTM
- Free cash flow
- $14B Trailing 12 months
- Net income
- -$3.86B Trailing 12 months
- Revenue estimate
- $31.2B FY2026 consensus
- Earnings
- 2027-02-09 Revenue est. $8.28B
- Dividend
- $3.25 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-29): revenue beat by 6.3%, EPS beat by 16.4%Revenue $8.3B vs $7.81B expected (+6.3%); EPS $2.55 vs $2.19 (+16.4%).
- Revenue growth accelerating: 6.8% year on yearQ3 '26 revenue $8.3B, against an average of 5.6% over the four quarters before.
- Operating margin -4.4% (TTM), -40.4 pp on a year agoOperating income grew -112.9% while revenue grew 6.5%.
- Capex 1.4% of revenue (a year ago 1.7%)$442M invested in the last 4 quarters (-12.5% on a year earlier). Free cash flow $14B.
- Returned $5.48B to shareholders = 39.0% of free cash flowBuybacks $1.37B (a year earlier $2.04B), dividends $4.1B, stock-based pay $464M (TTM).
- Diluted share count down 0.2% in a year1.25B diluted shares in Q3 '26, 1.25B a year earlier.
- Net debt $19.8BCash + short-term investments $6.44B, debt incl. leases $26.2B; a year ago net debt $17.6B.
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $8.3B | $7.77B | +6.8% |
| Gross margin | 81.1% | 79.8% | +1.3 pp |
| Operating income | $3.46B | $3.33B | +4.1% |
| Operating margin | 41.7% | 42.8% | -1.1 pp |
| Net income | $2.43B | $3.05B | -20.4% |
| Diluted EPS | $1.94 | $2.43 | -20.2% |
| Operating cash flow | $5.04B | $4.11B | +22.6% |
| Capex | $237M | $147M | +61.2% |
| Free cash flow | $4.8B | $3.96B | +21.2% |
| R&D | $1.61B | $1.35B | +19.5% |
| Stock-based compensation | $234M | $230M | +1.7% |
Reported vs consensus
2026-10-29| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $8.3B | $7.81B | +6.3% |
| EPS (as estimated) | $2.55 | $2.19 | +16.4% |
From the report of 2026-10-29 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Products, Other HIV | $6.25B | +18.4% | 84.2% | – | – | |
| Total HIV | – | – | – | – | – | |
| Cell Therapy Products, Total Cell Therapy Product Sales | $415M | -19.4% | 5.6% | – | – | |
| Total Liver Disease | – | – | – | – | – | |
| Total Oncology | – | – | – | – | – | |
| Veklury | $86M | -69.0% | 1.2% | $464M | -62.9% | |
| Trodelvy | $506M | +41.7% | 6.8% | – | – | |
| Other Products, Total Other product sales | $167M | -9.2% | 2.2% | – | – | |
| Total Other | – | – | – | – | – | |
| Royalty, contract and other revenues | – | – | – | – | – |
Revenue by region
share of total| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| United States | $6.36B | +20.5% | 76.7% | $22.5B | +8.5% | |
| Europe | $1.07B | -31.5% | 12.8% | $4.77B | -4.7% | |
| Other International | $872M | -6.5% | 10.5% | $3.45B | -1.9% |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $14.5B
- Capex
- -$442M
- Buybacks
- -$1.37B
- Dividends
- -$4.1B
- Acquisitions
- -$628M
- Net debt issued
- $1.28B
- Stock-based compensation
- $464M
- Free cash flow
- $14B
- Returned to shareholders / FCF
- 39.0%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | -55.1× | 63.4× | 14.6× – 243.1× |
| EV / EBITDA | 281.2× | 15.6× | 9.9× – 29.7× |
| EV / Sales | 7.5× | 4.7× | 4.1× – 5.8× |
| Price / FCF | 15.1× | 12.5× | 8.4× – 16.1× |
| Price / Book | 16.3× | 5.3× | 4.3× – 6.7× |
| FCF yield | 6.6% | 8.4% | 6.2% – 11.8% |
| Return on invested capital | -3.2% | 11.6% | 2.4% – 20.3% |
| Return on equity | -21.7% | 23.2% | 2.5% – 37.5% |
Analysts
Consensus target $163.67 (-4.1%)
range $126.00 – $195.00 · rating Buy
Strong buy0
Buy38
Hold19
Sell1
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $31.2B | +6.0% | -$0.80 | -111.8% | -213.4× | 11 |
| FY2027 | $33.4B | +7.0% | $10.07 | +1,359.8% | 16.9× | 16 |
| FY2028 | $34.8B | +4.0% | $10.78 | +7.0% | 15.8× | 10 |
| FY2029 | $37.3B | +7.4% | $12.20 | +13.1% | 14.0× | 4 |
| FY2030 | $39.6B | +6.1% | $13.35 | +9.4% | 12.8× | 4 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 275 figures Gilead Sciences, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $934M | $808M | +15.6% | $715M | $833M | -14.2% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $5.01B | $5.1B | -1.7% | $4.91B | $4.42B | +11.2% |
| Accounts Receivable, Allowance for Credit Loss, Current | $42M | $41M | +2.4% | $41M | $52M | -21.2% |
| Accounts Receivable, before Allowance for Credit Loss, Current | $5.96B | $5.99B | -0.6% | $5.9B | $5.32B | +10.8% |
| Accrued Income Taxes, Current | $92M2025-12-31 | $1.65B | -94.4% | $92M | $1.65B | -94.4% |
| Accrued Income Taxes, Noncurrent | $974M | $866M | +12.5% | $896M | $830M | +8.0% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $3B | $2.69B | +11.4% | $2.7B | $2.47B | +9.1% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $89M | $36M | +147.2% | $39M | $132M | -70.5% |
| Additional Paid in Capital | $9.84B | $8.68B | +13.4% | $8.93B | $7.7B | +16.0% |
| Advertising Expense | – | – | – | $1B | $869M | +15.1% |
| Amortization | $608M | $596M | +2.0% | $2.39B | $2.39B | +0.2% |
| Amortization of Intangible Assets | – | – | – | $2.4B | $2.4B | 0.0% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1M | 3M | -66.7% | 2M | 5M | -60.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $234M | $231M | +1.3% | $899M | $834M | +7.8% |
| Assets | $51.4B | $58.5B | -12.2% | $59B | $59B | 0.0% |
| Assets, Current | $16.6B | $17.9B | -7.4% | $18.3B | $19.2B | -4.3% |
| Assets, Fair Value Disclosure | $6.48B | – | – | $6.97B2020-12-31 | $11B | -36.9% |
| Buildings and Improvements, Gross | $4.62B2025-12-31 | $4.54B | +1.8% | $4.62B | $4.54B | +1.8% |
| Capitalized Computer Software, Gross | $666M2025-12-31 | $692M | -3.8% | $666M | $692M | -3.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $6.44B | $7.33B | -12.2% | $7.56B | $9.99B | -24.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $3.26B | $2.19B | +49.0% | -$2.43B | $3.91B | -162.2% |
| Common Stock, Dividends, Per Share, Declared | $0.82 | $0.79 | +3.8% | $3.16 | $3.08 | +2.6% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 5.6B | 5.6B | 0.0% | 5.6B | 5.6B | 0.0% |
| Common Stock, Shares, Issued | 1.24B | 1.24B | -0.1% | 1.24B | 1.25B | -0.4% |
| Common Stock, Shares, Outstanding | 1.24B | 1.24B | -0.1% | 1.24B | 1.25B | -0.4% |
| Common Stock, Value, Issued | $1M | $1M | 0.0% | $1M | $1M | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $02025-12-31 | $0 | – | $0 | $0 | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $2.42B | $3.11B | -22.0% | $8.42B | $584M | +1,341.4% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $2.19B2025-12-31 | $1.84B | +18.7% | $8.42B | $584M | +1,341.4% |
| Construction in Progress, Gross | $745M2025-12-31 | $501M | +48.7% | $745M | $501M | +48.7% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $732M | $695M | +5.3% | $629M | $277M | +127.1% |
| Contract with Customer, Liability | $57M | $56M | +1.8% | $48M | $58M | -17.2% |
| Contract with Customer, Performance Obligation Satisfied in Previous Period | $146M | $148M | -1.4% | $612M | $727M | -15.8% |
| Contract with Customer, Refund Liability, Current | $321M2025-12-31 | $321M | 0.0% | $321M | $321M | 0.0% |
| Cost of Goods and Services Sold | $1.57B | $1.57B | +0.1% | $6.23B | $6.25B | -0.3% |
| Costs and Expenses | $4.84B | $4.44B | +8.9% | $19.4B | $27.1B | -28.3% |
| Current Federal Tax Expense (Benefit) | – | – | – | $820M | $1.5B | -45.2% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $256M | $519M | -50.7% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $51M | $39M | +30.8% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $1M2026-03-31 | – | – | $11M | – | – |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $4M2026-03-31 | – | – | $1M | – | – |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | $02025-09-30 | – | – | $2M2023-12-31 | $6M | -66.7% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $4M2026-03-31 | – | – | $32M | – | – |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $982M2026-03-31 | – | – | $2.93B | – | – |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $15M2026-03-31 | – | – | $70M | – | – |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | – | – | – | $624M2023-12-31 | $705M | -11.5% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | – | – | – | $8M2023-12-31 | $12M | -33.3% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $669M2026-03-31 | – | – | $724M | – | – |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | – | – | – | $2M2023-12-31 | $22M | -90.9% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | $02025-09-30 | – | – | $2M2023-12-31 | $6M | -66.7% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $4M2026-03-31 | – | – | $32M | – | – |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $979M2026-03-31 | – | – | $2.94B | – | – |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $15M2026-03-31 | – | – | $70M | – | – |
| Debt Securities, Available-for-sale, Unrealized Loss Position | – | – | – | $1.35B2023-12-31 | $1.91B | -29.2% |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | – | – | – | $10M2023-12-31 | $34M | -70.6% |
| Debt, Current | $2.42B | $2.81B | -13.9% | $2.81B | $1.82B | +54.7% |
| DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss | $1B2026-03-31 | – | – | $3.03B | $0 | – |
| DebtSecuritiesAvailableForSaleExcludingAccruedInterest | $997M2026-03-31 | – | – | $3.04B | – | – |
| Deferred Compensation Arrangement with Individual, Compensation Expense | – | – | – | $200M | $204M | -2.0% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-01