— Know what they know.
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Not Investment Advice

GILD

NASDAQ · USD
Gilead Sciences, Inc.
Healthcare · Drug Manufacturers - General
CEO Daniel O'Day Employees 17,000 R&D / revenue 19.3%
Last price
$156.19−0.75%last session
Market cap
$193.7B
P/E (TTM)
n/m
From 52w high
−2.7%
From 52w low
+37.0%
1-year return
+33.4%
RSI 14 · vs SMA200
63.5 · +13.3%
IS score
43.8/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

GILD   SPY   XLV (sector ETF) · weekly closes
100110120130Jan 26Apr 26Jul 26Oct 26GILD 133XLV 124SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
20
Profitability
37
Growth
27
Value
38
Momentum
80
Risk (safety)
32
Quality
20
Balance sheet
26
Earnings quality

Flags

Strengths
✓ FCF yield 5%+✓ Congress buying
Warnings
None of the computed warning flags fires for GILD (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Intangible AssetsPiotroski 5 / 9Altman Z 3.2Beta 0.353 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
44 open-market sales, $26.6M
Form 144 notices (12m): 40, $89.3M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
5
Last disclosed purchase 2026-05-06
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−32
159 new holders, 163 closed
2,299 filers hold 90.1% · 957 added, 861 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+370
1,962 funds adding shares
1,592 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
49.5%
20-day avg 42.7%, 50-day avg 39.5%
Latest 6.8 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$29.4B
Revenue growth YoY+2.4%
Gross margin86.7%
Operating income$11.8B
Operating margin40.1%
Net income$8.5B
Net margin28.9%
EPS (diluted)$6.78
Cash flow
Operating cash flow$10.0B
Capital expenditure$563.0M
Free cash flow$9.5B
FCF conversion (FCF / OCF)94.4%
Stock-based compensation$0
FCF less SBC$9.5B
Buybacks$1.9B
Dividends$4.0B
Balance sheet & returns
Cash & short-term investments$10.6B
Total debt$24.6B
Net debt$14.0B
Shareholders' equity$22.6B
Goodwill & intangibles$25.3B
Debt / equity2.22
ROE (TTM)-16.3%
ROIC (TTM)-3.7%
Operating margin by fiscal year
36.3%FY202126.9%FY202228.0%FY20235.8%FY202437.5%FY2025
Revenue $27.3B (FY2021) to $29.4B (FY2025), a 1.9% CAGR.

Valuation

P/E (TTM)n/m
EV / EBITDA162.5x
Price / sales6.36x
Price / FCF14.7x
FCF yield6.82%
Buyback yield0.99%
SBC / revenue1.5%
Price / book16.41x
Forward P/E FY2026n/m
Forward P/E FY202715.6x
Forward P/E FY202814.5x
Forward multiples divide today's price by Street EPS estimates. Street mean target $148.11 across 9 analysts last quarter is theirs, not ours.

GILD vs industry median

40 companies in Drug Manufacturers - General
Gross margin 79.6% 72.4% Operating margin -4.9% 20.1% Net margin -10.6% 12.7% ROIC -3.7% 16.2%
GILD (TTM)Industry median Asset turnover 0.62 vs industry 0.54 · financial leverage 4.17

Earnings delivery

Next report 2026-10-29 · consensus EPS $2.18
92%
beat rate, 11 of 12 quarters
+8.0%
median EPS surprise
10
longest beat streak
+20-2+11+25+32+9+2+3+16+3+6+7
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-07 to 2026-08-04. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
GILD Gilead Sciences, Inc. $193.7Bn/m-16.3%-10.6%+2.4% +33.4%
PFE Pfizer Inc. $168.6B39.1x5.0%-1.6%−0.2% +24.2%
AMGN Amgen Inc. $233.8B26.7x91.5%23.6%+9.2% +50.3%
AZN AstraZeneca PLC $256.5B24.7x22.0%16.3%+8.6% −1.5%
NVS Novartis AG $286.3B22.9x30.6%22.7%+0.8% +15.1%
BMY Bristol-Myers Squibb Company $122.1B13.2x46.7%25.6%+3.1% —
MRK Merck & Co., Inc. $360.1B115.8x7.0%-8.0%+4.5% —
ABBV AbbVie Inc. $504.4B80.4x-206.4%21.3%+10.4% —
12-month window: SPY +15.9%, sector ETF XLV +24.2%. Past returns describe history only.

Recent 8-K filings

2026-08-04Earnings Release; Exhibits
2026-05-20Material Agreement; Financial Obligation; Other Events; Exhibits
2026-05-04Shareholder Vote; Exhibits
2026-04-28Regulation FD; Other Events; Exhibits
2026-02-23Entry into Material Definitive Agreement; Regulation FD Disclosure; Financial Statements and Exhibits
2026-02-10Results of Operations and Financial Condition; Financial Statements and Exhibits

Context

Shares outstanding1,239,955,155
Free float99.8%
Institutional ownership90.1%
Beta0.35
Dividend yield2.08%
Last dividend$0.82 on 2026-09-15
50 / 200-day average$146.33 / $137.86
Large-cap Healthcare median P/E29.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where GILD sits among 12 scored companies in Drug Manufacturers - General (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureGILDIndustry medianIndustry percentileSector median
P/E (TTM) —
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 6.4x 5.3x
82nd		 3.7x
Price / book 16.4x 6.9x
80th		 3.6x
Price / tangible book —
Price / free cash flow 14.7x 20.3x
27th		 21.2x
Price / operating cash flow 14.3x 16.8x
36th		 17.1x
Enterprise value $216.7B $280.5B
27th		 $2.5B
EV / sales 7.1x 6.0x
73rd		 3.8x
EV / EBITDA 162.5x 18.0x
100th		 16.2x
EV / EBIT —
EV / free cash flow 16.4x 23.7x
18th		 24.6x
Earnings yield -1.7% 3.0%
0th		 -0.3%
FCF yield 6.8% 5.0%
73rd		 1.7%
Operating cash flow yield 7.0% 6.0%
64th		 2.9%
Graham number (per share) —

Profitability (TTM)

MeasureGILDIndustry medianIndustry percentileSector median
Gross margin 79.6% 72.1%
91st		 65.1%
EBITDA margin 4.4% 32.8%
0th		 6.6%
Operating margin -4.9% 25.2%
0th		 3.5%
EBIT margin -4.7% 22.0%
0th		 2.4%
Net margin -10.6% 13.4%
0th		 0.3%
NOPAT margin -3.9% 20.5%
0th		 2.7%
FCF margin 43.3% 24.7%
100th		 4.3%
Operating cash flow margin 44.5% 29.5%
100th		 7.1%
R&D / revenue 19.9% 20.0%
45th		 12.4%
SG&A / revenue 21.2% 22.0%
45th		 37.9%
Stock comp / revenue 1.5% 1.1%
91st		 4.5%
Effective tax rate 21.0% 19.2%
64th		 21.0%

Returns on capital

MeasureGILDIndustry medianIndustry percentileSector median
ROE (on average equity) -20.6% 24.0%
0th		 0.8%
ROA -6.2% 6.9%
0th		 -0.3%
ROIC -3.4% 15.9%
0th		 5.5%
ROCE -3.7% 15.6%
0th		 2.3%
Return on tangible assets -2.7% 11.2%
0th		 1.7%
Cash ROIC (OCF / invested capital) 38.8% 22.4%
100th		 9.7%
Gross profitability (GP / assets) 49.1% 34.0%
100th		 29.9%
ROIC, 3-yr average 3.5% 10.3%
0th		 2.6%
ROIC, 5-yr average 6.9% 14.2%
0th		 3.2%
ROE, 5-yr average 11.4% 19.6%
11th		 -4.9%
Incremental ROIC 94.2% 4.4%
82nd		 17.2%

Growth

MeasureGILDIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 5.5% 5.0%
55th		 10.5%
Revenue growth (QoQ) 12.1% 8.6%
64th		 7.2%
Revenue CAGR, 3 yr 3.6% 4.4%
36th		 10.7%
Revenue CAGR, 5 yr 2.7% 3.3%
36th		 12.1%
Gross profit CAGR, 3 yr 3.7% 5.9%
27th		 10.6%
Operating income CAGR, 3 yr —
Net income growth (TTM YoY) —
Net income CAGR, 3 yr —
EPS growth (TTM YoY) —
EPS CAGR, 3 yr —
EPS CAGR, 5 yr —
FCF growth (TTM YoY) 40.9% 4.7%
90th		 18.6%
FCF CAGR, 3 yr 13.9% 11.3%
55th		 15.4%
Operating cash flow CAGR, 3 yr 12.5% 6.8%
82nd		 11.9%
Book value CAGR, 3 yr -17.3% 5.2%
0th		 2.1%
Dividend CAGR, 3 yr 1.3% 1.8%
20th		 2.2%
Sustainable growth rate —

Margin history & stability

MeasureGILDIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 77.9% 70.1%
82nd		 62.6%
Operating margin, 3-yr average 10.7% 23.5%
0th		 1.0%
Net margin, 3-yr average 5.0% 13.4%
0th		 -2.6%
FCF margin, 3-yr average 33.5% 22.0%
100th		 3.2%
Revenue stability (0-1) 0.88 0.75
64th		 0.80
Earnings stability (0-1) 0.35 0.23
73rd		 0.37
Margin stability (0-1) 0.98 0.94
91st		 0.93

Liquidity (latest quarter)

MeasureGILDIndustry medianIndustry percentileSector median
Cash & short-term investments $3.2B $7.4B
18th		 $330.9M
Net cash (− = net debt) −$23.1B −$36.7B
82nd		 $8.4M
Working capital $2.9B $4.1B
36th		 $381.1M
Current ratio 1.27 1.29
36th		 3.02
Quick ratio 1.09 1.05
55th		 2.51
Cash ratio (cash + ST investments / current liabilities) 0.29 0.31
45th		 1.43
Defensive interval (days) 117 days 287 days
0th		 415 days

Leverage & solvency (latest quarter)

MeasureGILDIndustry medianIndustry percentileSector median
Total debt $26.2B $49.0B
18th		 $289.1M
Debt / equity 2.22 1.29
80th		 0.45
Net debt / equity 1.95 1.12
80th		 −0.13
Debt / assets 53.2% 40.8%
82nd		 24.4%
Debt / capital 68.9% 56.2%
80th		 31.1%
Debt / EBITDA 19.67 3.30
100th		 2.62
Net debt / EBITDA 17.29 2.75
100th		 1.42
Interest coverage (EBIT / interest) −1.4x 5.3x
0th		 2.1x
Cash interest coverage 13.6x 9.8x
73rd		 3.6x
Debt payback (years of OCF) 1.9 yrs 2.8 yrs
0th		 2.7 yrs
Liabilities / assets 76.2% 71.1%
73rd		 49.8%
IS credit model rating BB+ — —
Implied credit spread (bps) 400 250
64th		 225

Efficiency

MeasureGILDIndustry medianIndustry percentileSector median
Asset turnover 0.58 0.49
91st		 0.56
Fixed asset turnover 5.22 4.31
82nd		 4.87
Inventory turnover 3.3 2.1
82nd		 2.7
Receivables turnover 6.2 4.9
100th		 6.4
Days sales outstanding 59 days 74 days
0th		 57 days
Days inventory outstanding 111 days 172 days
18th		 136 days
Days payables outstanding 37 days 116 days
0th		 59 days
Cash conversion cycle (days) 133 days 126 days
73rd		 70 days
Capex / revenue 1.2% 4.6%
10th		 2.6%
Capex / depreciation 0.13 0.49
10th		 0.55
Operating expense ratio 213.0% 40.9%
100th		 56.5%

Cash flow & earnings quality

MeasureGILDIndustry medianIndustry percentileSector median
Operating cash flow / net income —
FCF / net income —
FCF / operating cash flow 97.4% 81.5%
90th		 81.2%
Capex / operating cash flow 2.6% 18.5%
10th		 18.8%
Accruals ratio -32.0% -4.3%
0th		 -5.4%
Sloan accruals ratio -6.4% -2.6%
18th		 -1.3%
Earnings quality score (0-1) —

Dividends & buybacks

MeasureGILDIndustry medianIndustry percentileSector median
Dividend yield 2.1% 2.2%
45th		 0.0%
Dividend per share (TTM) $3.25 $3.33
45th		 $0.00
Payout ratio (dividends / net income) —
Dividends / FCF 30.8% 50.8%
27th		 0.0%
Dividend growth (YoY) 3.7% 5.0%
40th		 4.5%
Buyback yield 0.7% 0.1%
82nd		 0.0%
Shareholder yield (dividends + buybacks) 2.8% 2.5%
64th		 0.0%
Share count change (YoY) -1.0% -0.1%
27th		 2.0%
Buybacks, last 5 years $8.9B $3.6B
73rd		 $0

Scores & forensic checks

MeasureGILDIndustry medianIndustry percentileSector median
IS score 44 64
9th		 46
IS profitability 20 67
0th		 22
IS growth 37 40
36th		 60
IS value 27 42
0th		 39
IS momentum 38 67
0th		 67
IS risk (safety) 80 72
55th		 80
IS quality 32 72
0th		 49
IS balance sheet 20 49
0th		 55
IS earnings quality 26 68
0th		 56
IS cash flow 78 66
91st		 41
Piotroski F-score (0-9) 5 7
18th		 5
Altman Z-score 3.2 3.0
55th		 3.2
Beneish M-score −4.14 −2.72
0th		 −2.62
Ohlson O-score −6.75 −8.11
91st		 −7.16
IS credit score 47 60
36th		 62

Per share

MeasureGILDIndustry medianIndustry percentileSector median
EPS, diluted (TTM) −$2.61 $5.07
0th		 −$0.03
Book value per share $9.52 $19.22
18th		 $7.10
Tangible book per share −$8.53 −$8.38
45th		 $1.91
Revenue per share $24.50 $32.71
27th		 $9.38
FCF per share $10.62 $7.97
64th		 $0.46
Operating cash flow per share $10.90 $9.66
64th		 $0.93
Cash per share $2.56 $4.10
9th		 $3.51

Size (TTM)

MeasureGILDIndustry medianIndustry percentileSector median
Market cap $193.7B $245.2B
36th		 $2.4B
Revenue $30.5B $58.5B
18th		 $770.2M
EBITDA $1.3B $16.9B
9th		 $56.1M
Net income −$3.2B $7.5B
0th		 −$3.3M
Free cash flow $13.2B $12.3B
55th		 $41.2M
Total assets $49.4B $118.9B
18th		 $1.3B
Shareholders' equity $11.8B $28.1B
27th		 $568.4M
Employees 17,000 53,500
18th		 1,086

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-15Mercier Johanna
Chief Comm & Corp Aff Officer
 Open-market sale 3,000$156.22$468,660113,684
2026-10-15Dickinson Andrew D
Chief Financial Officer
 Open-market sale 3,000$156.22$468,660161,096
2026-10-01O'Day Daniel Patrick
Director, Chairman & CEO
 Open-market sale 12,000$147.72$1.8M569,683
2026-10-01O'Day Daniel Patrick
Director, Chairman & CEO
 Open-market sale 3,000$148.63$445,880566,683
2026-09-22Burkhart Erin
SVP, Controllership
 Option exercise 2,223——2,223
2026-09-22Burkhart Erin
SVP, Controllership
 Tax withholding 768$152.67$117,2511,455
2026-09-22Burkhart Erin
SVP, Controllership
 Option exercise 2,223——9,022
2026-09-15Dickinson Andrew D
Chief Financial Officer
 Open-market sale 3,000$145.29$435,870164,096
2026-09-15Mercier Johanna
Chief Comm & Corp Aff Officer
 Open-market sale 1,600$143.69$229,907118,084
2026-09-15Mercier Johanna
Chief Comm & Corp Aff Officer
 Open-market sale 800$144.46$115,566117,284
2026-09-15Mercier Johanna
Chief Comm & Corp Aff Officer
 Open-market sale 600$145.29$87,174116,684
2026-09-10Dickinson Andrew D
Chief Financial Officer
 Option exercise 2,797——168,443

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1648,240$5.1M
Open-market saleDisposed44194,000$26.6M
Option exerciseDisposed19112,215$4.8M
Option exerciseAcquired22112,215$4.8M
Tax withholdingDisposed1318,813$2.5M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 40 notices · 655,752 shares · $89.3M
FiledFilerShares proposedEst. proceeds
2026-10-15Andrew Dickinson3,000$468,660
2026-10-15Johanna Mercier3,000$468,660
2026-09-15Andrew Dickinson3,000$435,870
2026-09-15Johanna Mercier3,000$432,646
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 10 trades (8 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-08-10Ro KhannaHouseSale$1,001 - $15,0002026-09-07
2026-07-07Ro KhannaHouseSale$1,001 - $15,0002026-08-12
2026-05-06Jared MoskowitzHousePurchase$1,001 - $15,0002026-06-22
2026-05-06Jared MoskowitzHousePurchase$1,001 - $15,0002026-06-22
2025-04-16John BoozmanSenateSale (Full)$1,001 - $15,0002025-05-14
2025-04-16John BoozmanSenateSale$1,001 - $15,0002025-05-14
2025-04-16John BoozmanSenateSale (Full)$1,001 - $15,0002025-05-13
2025-04-16John BoozmanSenateSale (Full)$1,001 - $15,0002025-05-13
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.121,844,108$15.4B9.83%
VANGUARD CAPITAL MANAGEMENT LLC81,091,734$10.2B6.54%
FMR LLC66,870,816$8.4B5.39%
STATE STREET CORP61,216,552$7.7B4.94%
Capital World Investors40,988,975$5.2B3.31%
Invesco Ltd.39,819,151$5.0B3.21%
VANGUARD PORTFOLIO MANAGEMENT LLC35,316,168$4.5B2.85%
GEODE CAPITAL MANAGEMENT, LLC30,065,642$3.8B2.42%
PRICE T ROWE ASSOCIATES INC /MD/29,996,694$3.8B2.42%
DODGE & COX23,677,567$3.0B1.91%
NORGES BANK21,965,555$2.8B1.77%
Capital Research Global Investors19,393,296$2.5B1.56%
BANK OF AMERICA CORP /DE/18,649,065$2.4B1.50%
JPMORGAN CHASE & CO17,840,491$2.3B1.44%
MORGAN STANLEY16,856,952$2.1B1.36%

Institutional ownership by quarter

2023-092026-0690.1%
% of shares held by 13F filers
2023-092026-062,299
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-302,29990.1%159957861163
2026-03-312,33186.4%248863896104
2025-12-312,22788.8%341880740106
2025-09-302,03485.0%165832728127
2025-06-302,03286.7%187846737154
2025-03-312,02885.7%284692832111
2024-12-311,89285.6%29465272295
2024-09-301,72584.0%172631698120
2024-06-301,69083.5%133651691147
2024-03-311,72883.8%139641736170
2023-12-311,78484.2%227651701100
2023-09-301,68883.8%130687635121

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-29SCHEDULE 13GVanguard Capital Management7.5%93,327,127
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2026-02-05SCHEDULE 13GAbigail P. Johnson5.3%65,539,477
2025-05-13SCHEDULE 13G/ACapital World Investors4.3%53,834,873
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.25%$5.9B
VTI0.25%$5.9B
VSMPX0.25%$5.9B
VTSAX0.25%$5.9B
VFFSX0.28%$4.9B
VFINX0.28%$4.9B

Share structure

Shares outstanding1,239,955,155
Float1,237,301,651
Free float99.8%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$27.3B$27.3B$27.1B$28.8B$29.4B
Cost of revenue$6.6B$5.7B$6.5B$6.3B$3.9B
Gross profit$20.7B$21.6B$20.6B$22.5B$25.5B
R&D$4.6B$5.0B$5.7B$5.9B$5.7B
SG&A$5.2B$5.7B$6.1B$6.1B$5.7B
Operating income$9.9B$7.3B$7.6B$1.7B$11.8B
EBITDA$11.3B$8.9B$10.5B$4.4B$10.8B
Pretax income$8.3B$5.8B$6.9B$690.0M$9.8B
Income tax$2.1B$1.2B$1.2B$211.0M$1.3B
Net income$6.2B$4.6B$5.7B$480.0M$8.5B
EPS, diluted$4.93$3.64$4.50$0.38$6.78
Diluted shares1.3B1.3B1.3B1.3B1.3B

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$6.5B$6.4B$7.3B$11.6B$10.6B
Receivables$4.5B$4.8B$4.7B$4.4B$4.9B
Inventory$1.6B$1.5B$1.8B$1.7B$4.4B
Total current assets$14.8B$14.4B$16.1B$19.2B$19.9B
PP&E, net$5.1B$5.5B$5.3B$5.4B$5.6B
Goodwill & intangibles$41.8B$37.2B$34.8B$28.3B$25.3B
Total assets$68.0B$63.2B$62.1B$59.0B$59.0B
Accounts payable$705.0M$905.0M$550.0M$833.0M$0
Total current liabilities$11.6B$11.2B$11.3B$12.0B$11.8B
Long-term debt$25.2B$23.0B$23.2B$24.9B$24.6B
Total liabilities$46.9B$42.0B$39.4B$39.7B$36.4B
Shareholders' equity$21.1B$21.2B$22.7B$19.2B$22.6B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$6.2B$4.6B$5.7B$480.0M$8.5B
Depreciation & amortization$2.0B$2.1B$2.7B$2.8B$2.8B
Stock-based compensation$635.0M$644.0M$766.0M$835.0M$0
Change in working capital$489.0M−$1.8B−$2.3B−$880.0M−$3.9B
Operating cash flow$11.4B$9.1B$8.0B$10.8B$10.0B
Capital expenditure−$579.0M−$728.0M−$585.0M−$523.0M−$563.0M
Free cash flow$10.8B$8.3B$7.4B$10.3B$9.5B
Investing cash flow−$3.1B−$2.5B−$2.3B−$3.4B−$4.8B
Net debt issued / repaid−$4.8B−$1.5B−$270.0M$1.5B−$1.8B
Buybacks−$546.0M−$1.4B−$1.0B−$1.1B−$1.9B
Dividends paid−$3.6B−$3.7B−$3.8B−$3.9B−$4.0B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin75.8%79.3%76.0%78.3%78.8%
Operating margin36.3%26.9%28.0%5.8%37.5%
Net margin22.8%16.8%20.9%1.7%28.9%
FCF margin39.6%30.6%27.4%35.8%32.1%
ROE31.7%21.7%25.7%2.3%40.6%
ROIC18.0%14.4%15.3%3.3%26.2%
ROA9.1%7.0%9.0%0.8%14.4%
Debt / equity1.271.191.091.381.09
Interest coverage9.3x7.2x8.3x1.7x10.6x
Current ratio1.271.291.431.601.68
Revenue growth+10.6%−0.1%−0.6%+6.0%+2.4%
EPS growth+4,948.9%−26.3%+24.1%−91.5%+1,681.4%
P/E at year end12.7x21.3x16.8x235.7x18.1x
EV / EBITDA at year end8.7x13.2x10.7x28.9x12.4x
FCF yield at year end13.70%8.55%7.81%9.11%6.15%
Dividend payout57.9%80.8%67.2%816.2%47.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Products, Other HIV$16.4B$17.3B$18.2B$19.6B$20.8B
Biktarvy————$14.3B
Veklury$5.6B$3.9B$2.2B$1.8B$911.0M
Descovy————$2.8B
Cell Therapy Products, Total Cell Therapy Product Sales$1.0B$1.8B$2.2B$2.4B$2.2B
Genvoya————$1.5B
Yescarta————$1.5B
Trodelvy$380.0M$680.0M$1.1B$1.3B$1.4B
Sofosbuvir/Velpatasvir————$1.3B
Odefsey————$1.2B
Vemlidy————$1.1B
Other Products, Total Other product sales$1.0B$946.0M$859.0M$889.0M$799.0M
Hepatitis B Virus / Hepatitis Delta Virus Product$969.0M$988.0M$1.0B——
Other Liver Disease————$874.0M
Royalty, contract and other revenues————$527.0M
AmBisome————$509.0M
Other HIV————$500.0M
Symtuza - Revenue share————$495.0M
Tecartus————$344.0M
Other————$290.0M

Revenue by region · FY2025

UNITED STATES$20.9B · 71%
Europe$5.1B · 17%
Other International$3.5B · 12%

Street estimates by fiscal year

Next report 2026-10-29 · consensus EPS $2.18 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$30.7B$30.5B – $31.0B$-0.41$-0.57 – $-0.2716n/m
2027$32.9B$31.8B – $33.5B$9.99$9.44 – $11.531615.6x
2028$34.6B$32.2B – $37.6B$10.78$9.15 – $12.241014.5x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-04$-7.25$-6.75+6.9%$7.4B$7.8B+5.5%
2026-05-07$1.91$2.03+6.3%$6.9B$7.0B+0.7%
2026-02-10$1.81$1.86+2.8%$7.7B$7.9B+3.1%
2025-10-30$2.13$2.47+16.0%$7.4B$7.8B+4.3%
2025-08-07$1.96$2.01+2.6%$7.0B$7.1B+1.4%
2025-04-24$1.78$1.81+1.7%$6.8B$6.7B−2.1%
2025-02-11$1.74$1.90+9.2%$7.2B$7.6B+5.8%
2024-11-06$1.53$2.02+32.0%$7.0B$7.5B+7.5%
2024-08-08$1.61$2.01+24.8%$6.7B$6.9B+3.7%
2024-04-25$-1.49$-1.32+11.4%$6.4B$6.7B+5.2%
2024-02-06$1.76$1.72−2.3%$7.1B$7.1B+0.2%
2023-11-07$1.91$2.29+19.9%$6.4B$7.0B+9.9%
2023-08-03$1.60$1.34−16.2%$6.5B$6.6B+2.2%
2023-04-27$1.63$1.37−16.0%$6.5B$6.4B−1.6%
2023-02-02$1.50$1.67+11.3%$6.6B$7.4B+11.4%
2022-10-27$1.44$1.90+31.9%$6.1B$7.0B+14.9%
2022-08-02$1.51$1.58+4.6%$5.9B$6.3B+6.8%
2022-04-28$1.77$2.12+19.8%$6.3B$6.6B+4.9%
2022-02-01$1.53$0.69−54.9%$6.6B$7.2B+9.5%
2021-10-28$1.75$2.65+51.4%$6.2B$7.4B+20.6%
2021-07-29$1.76$1.87+6.3%$6.2B$6.2B0.0%
2021-04-29$2.06$2.08+1.0%$6.7B$6.4B−3.9%
2021-02-04$2.15$2.19+1.9%$6.7B$7.4B+10.2%
2020-10-28$1.83$2.11+15.3%$5.9B$6.6B+11.1%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.906-151.106-220.806-291.307-060.907-130.907-201.007-271.608-031.008-100.908-170.808-240.908-31
Week ofNotionalSharesTrades
2026-08-31$905.6M6,075,184106,367
2026-08-24$789.2M5,356,290110,150
2026-08-17$929.8M6,432,647124,794
2026-08-10$990.4M7,302,541121,710
2026-08-03$1.6B12,290,283158,528
2026-07-27$1.0B7,754,729113,227

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1549.5%
DateShort shareShort volumeTotal volume
2026-10-1549.5%1,117,3302,257,828
2026-10-1445.1%981,4732,175,159
2026-10-1336.8%549,4241,494,737
2026-10-1245.1%567,4801,257,970
2026-10-0950.4%725,2101,437,701
2026-10-0848.1%759,4821,579,568
2026-10-0756.5%803,3121,420,855
2026-10-0643.0%539,8951,254,508
2026-10-0551.1%732,8001,432,721
2026-10-0251.6%710,1641,376,624
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+3.9Jan-1.3Feb+1.3Mar-0.8Apr-0.3May+2.2Jun+2.1Jul+0.2Aug+1.6Sep+3.4Oct+1.1Nov-0.5Dec
MonthAvg returnUp yearsYears
Jan+3.9%65%20
Feb−1.3%45%20
Mar+1.3%52%21
Apr−0.8%40%20
May−0.3%45%20
Jun+2.2%70%20
Jul+2.1%60%20
Aug+0.2%40%20
Sep+1.6%50%20
Oct+3.4%65%20
Nov+1.1%55%20
Dec−0.5%30%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1463.5
MFI44.2
ADX24.1
Stochastic %K / %D85.5 / 78.3
Williams %R-24.1
CCI174
TSI / signal15.9 / 11.5
Chaikin money flow0.01
ATR$3.79
Bollinger width9.3%
Volume vs 20-day avg1.39x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$149.97 (+4.1%)
SMA 50$146.67 (+6.5%)
SMA 200$137.91 (+13.3%)
EMA 21$149.90 (+4.2%)
EMA 50$146.16 (+6.9%)
EMA 200$136.01 (+14.8%)
Bollinger upper$156.94 (−0.5%)
Bollinger lower$143.00 (+9.2%)
Parabolic SAR$145.44 (+7.4%)
Open the live chart, 110+ indicators

About Gilead Sciences, Inc.

Gilead Sciences, Inc. is a global biopharmaceutical enterprise, with operations spanning the United States, Europe, and numerous international markets. Its core mission involves discovering, developing, and commercializing innovative medications to address critical health needs. The company's extensive product portfolio encompasses treatments for a variety of severe conditions. For HIV/AIDS, it supplies key therapies such as Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/Eviplera, Stribild, and Atripla. In response to the 2019 coronavirus pandemic, Gilead provides Veklury, an injectable drug for intravenous administration. Its offerings for liver diseases include Epclusa, Harvoni, Vosevi, Vemlidy, and Viread. Furthermore, Gilead assists patients battling hematological disorders, various cancers, and those undergoing cell therapy, through products like Yescarta, Tecartus, Trodelvy, and Zydelig. Other specialized medicines include Letairis, an oral drug for pulmonary arterial hypertension; Ranexa, also an oral medication, for chronic angina; and AmBisome, a liposomal formulation designed to combat serious invasive fungal infections. Gilead Sciences, Inc. actively engages in collaboration agreements with a diverse range of partners to advance its therapeutic pipeline. These include Arcus Biosciences, Inc., Pionyr Immunotherapeutics Inc., Tizona Therapeutics, Inc., Tango Therapeutics, Inc., Jounce Therapeutics, Inc., Galapagos NV, Janssen Sciences Ireland Unlimited Company, Japan Tobacco, Inc., Gadeta B.V., Bristol-Myers Squibb Company, Dragonfly Therapeutics, Inc., and Merck & Co, Inc. The company was founded in 1987 and its corporate headquarters are situated in Foster City, California.

https://www.gilead.com

Key executives

NameTitlePayBorn
Daniel O'DayChairman & Chief Executive Officer$8.7M1965
Dietmar BergerChief Medical Officer$5.9M1969
Johanna MercierChief Commercial & Corporate Affairs Officer$3.4M1970
Andrew D. DickinsonExecutive VP & CFO$3.1M1970
Erin BurkhartSenior VP, Controller & Chief Accounting Officer—1979
Flavius MartinExecutive Vice President of Research——
Jacquie RossSenior Vice President of Treasury and Investor Relations——
Janet DorlingSenior Vice President of Intercontinental Region & Global Patient Solutions—1974

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Daniel P. O’Day Chairman and Chief Executive Officer2025$1.8M$15.2M$4.8M$28.4M
Dietmar Berger, M.D., Ph.D. Chief Medical Officer2025$969,231$7.0M$1.6M$13.9M
Johanna Mercier Chief Commercial and Corporate Affairs Officer2025$1.2M$4.6M$2.2M$9.3M
Andrew D. Dickinson Chief Financial Officer2025$1.1M$4.3M$2.0M$8.8M
Deborah H. Telman Former Executive Vice President, Corporate Affairs and General Counsel2025$977,334$3.1M$0$5.0M

Employees

11k201812k201914k202014k202117k202218k202318k202417k2025

Dividends

Ex-dateAmountPaid
2026-09-15$0.822026-09-29
2026-06-15$0.822026-06-29
2026-03-13$0.822026-03-30
2025-12-15$0.792025-12-30
2025-09-15$0.792025-09-29
2025-06-13$0.792025-06-27
2025-03-14$0.792025-03-28
2024-12-13$0.772024-12-30

Moat model

Narrow · Intangible Assets · 2026-06-30
Cost advantage62
Intangibles81
Switching costs68
Network effect45
Efficient scale63
Our component scores (0-100) and overall 65.9; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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