GILD Gilead Sciences, Inc. - Common Stock

NASDAQ · Biotechnology · View on SEC EDGAR ↗
$131.65
Price · May 20, 2026
Fundamentals as of May 7, 2026
52W Range
$104–$156
53% of range
Analyst Rating
BUY
39 analysts
Price Target
$158
+20% upside
P/E (TTM)
18.1
ROE
40.5%
Net Profit Margin
28.9%

GILD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$131.65
Market Cap
$152.32B
P/E (TTM)
18.1
EPS (TTM)
$6.78
Revenue (TTM)
$29.44B
Div Yield
2.6%
ROE
40.5%
Debt/Equity
1.1
52W Range
$104 – $156

GILD Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $29.44B
10-point trend, -3.1%
2016-12-31 → 2025-12-31
EPS $6.78
10-point trend, -31.8%
2016-12-31 → 2025-12-31
Free Cash Flow $9.46B
9-point trend, -40.6%
2016-12-31 → 2025-12-31
Margins 28.9%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
GILD
Peer Median
P/E (TTM)
5-point trend, +22.9%
18.1
18.2
P/S (TTM)
5-point trend, +55.1%
5.2
8.3
P/B
5-point trend, +55.2%
6.7
6.1
Price / FCF
5-point trend, +91.2%
16.1
—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
GILD
Peer Median
Operating Margin
5-point trend, -6.3%
34.0%
—
Net Profit Margin
5-point trend, +26.8%
28.9%
8.7%
ROA
5-point trend, +57.9%
14.4%
3.3%
ROE
5-point trend, +27.7%
40.5%
12.3%
ROIC
5-point trend, +17.6%
18.3%
—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
GILD
Peer Median
Debt / Equity
5-point trend, -13.3%
1.1
8.7
Current Ratio
5-point trend, +22.0%
1.6
3.6
Quick Ratio
5-point trend, -55.5%
0.4
—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
GILD
Peer Median
Revenue YoY
5-point trend, +7.8%
2.4%
—
Revenue CAGR 3Y
5-point trend, +7.8%
2.6%
—
Revenue CAGR 5Y
5-point trend, +7.8%
3.6%
—
EPS YoY
5-point trend, +37.5%
1684.2%
—
Net Income YoY
5-point trend, +36.7%
1672.9%
—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
GILD
Peer Median
EPS (Diluted)
5-point trend, +37.5%
$6.78
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
GILD
Peer Median
Payout Ratio
5-point trend, -18.8%
47.0%
—

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
2.6%
Payout Ratio
47.0%
5Y Div CAGR
—
Ex-dateAmount
March 13, 2026$0.8200
Dec. 15, 2025$0.7900
Sept. 15, 2025$0.7900
June 13, 2025$0.7900
March 14, 2025$0.7900
Dec. 13, 2024$0.7700
Sept. 13, 2024$0.7700
June 14, 2024$0.7700
March 14, 2024$0.7700
Dec. 14, 2023$0.7500
Sept. 14, 2023$0.7500
June 14, 2023$0.7500
March 14, 2023$0.7500
Dec. 14, 2022$0.7300
Sept. 14, 2022$0.7300
June 14, 2022$0.7300
March 14, 2022$0.7300
Dec. 14, 2021$0.7100
Sept. 14, 2021$0.7100
June 14, 2021$0.7100

GILD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 39 analysts
  • Strong Buy 11 28.2%
  • Buy 20 51.3%
  • Hold 8 20.5%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

28 analysts · 2026-05-16
Median target $160.50 +21.9%
Mean target $157.96 +20.0%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.08%
Period EPS Actual EPS Est Surprise
March 31, 2026 $2.03 $1.95 0.08%
Dec. 31, 2025 $1.86 $1.85 0.01%
Sept. 30, 2025 $2.47 $2.17 0.30%
June 30, 2025 $2.01 $2.00 0.01%
March 31, 2025 $1.81 $1.82 -0.01%

Peer Comparison Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
GILD $152.32B 18.1 2.4% 28.9% 40.5% —
ABBV — 96.8 8.6% 6.9% 15367.3% —
AMGN $176.35B 23.0 10.0% 21.0% 95.9% —
VRTX $115.15B 29.6 8.9% 32.9% 22.1% —
REGN $106.21B 18.6 0.99% 31.4% 14.7% —
ALNY $52.64B 170.7 65.2% 8.5% 60.4% —
RVMD — — — — — —

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 16
Annual Income Statement data for GILD
Metric Trend 202520242023202220212020201920182017201620152014
Revenue 12-point trend, +18.3% $29.44B $28.75B $27.12B $27.28B $27.30B $24.69B $22.45B $22.13B $26.11B $30.39B $32.64B $24.89B
Cost of Revenue 12-point trend, +64.6% $6.23B $6.25B $6.50B $5.66B $6.60B $4.57B $4.67B $4.85B $4.37B $4.26B $4.01B $3.79B
R&D Expense 6-point trend, +219.1% · · · · · · $9.11B $5.02B $3.73B $5.10B $3.01B $2.85B
SG&A Expense 12-point trend, +93.6% $5.77B $6.09B $6.09B $5.67B $5.25B $5.15B $4.38B $4.06B $3.88B $3.40B $3.43B $2.98B
Operating Expenses 12-point trend, +101.8% $19.42B $27.09B $19.51B $19.95B $17.39B $20.62B $18.16B $13.93B $11.98B $12.76B $10.45B $9.62B
Operating Income 12-point trend, -34.3% $10.02B $1.66B $7.61B $7.33B $9.92B $4.07B $4.29B $8.20B $14.12B $17.63B $22.19B $15.27B
Interest Expense 10-point trend, +129.1% · · $944M $935M $1.00B $984M $995M $1.08B $1.12B $964M $688M $412M
Other Non-op 12-point trend, -133.3% $-1M $-2M $-11M $-29M $-639M $-1.42B $1.87B $676M $523M $428M $154M $3M
Pretax Income 12-point trend, -34.1% $9.80B $690M $6.86B $5.81B $8.28B $1.67B $5.16B $7.80B $13.53B $17.10B $21.66B $14.86B
Income Tax 12-point trend, -54.0% $1.29B $211M $1.25B $1.25B $2.08B $1.58B $-204M $2.34B $8.88B $3.61B $3.55B $2.80B
Net Income 12-point trend, -29.7% $8.51B $480M $5.67B $4.59B $6.22B $123M $5.39B $5.46B $4.63B $13.50B $18.11B $12.10B
EPS (Basic) 12-point trend, -14.0% $6.84 $0.38 $4.54 $3.66 $4.96 $0.10 $4.24 $4.20 $3.54 $10.08 $12.37 $7.95
EPS (Diluted) 12-point trend, -7.8% $6.78 $0.38 $4.50 $3.64 $4.93 $0.10 $4.22 $4.17 $3.51 $9.94 $11.91 $7.35
Shares (Basic) 12-point trend, -18.3% 1,244,000,000 1,247,000,000 1,248,000,000 1,255,000,000 1,256,000,000 1,257,000,000 1,270,000,000 1,298,000,000 1,307,000,000 1,339,000,000 1,464,000,000 1,522,000,000
Shares (Diluted) 12-point trend, -23.8% 1,255,000,000 1,255,000,000 1,258,000,000 1,262,000,000 1,262,000,000 1,263,000,000 1,277,000,000 1,308,000,000 1,319,000,000 1,358,000,000 1,521,000,000 1,647,000,000
EBITDA 11-point trend, -34.3% $10.02B $1.66B $7.61B $7.33B $9.92B $4.07B $4.29B · $14.12B $17.63B $22.19B $15.27B
Balance Sheet 29
Annual Balance Sheet data for GILD
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents 9-point trend, -46.0% · · · $5.41B $5.34B $6.00B $11.63B $17.94B $7.59B $8.23B $12.85B $10.03B
Short-term Investments 12-point trend, -32.7% $68M $0 $1.18B $973M $1.18B $1.41B $12.72B $12.15B $17.92B $3.67B $1.76B $101M
Receivables 12-point trend, +6.0% $4.91B $4.42B $4.66B $4.78B $4.49B $4.89B $3.58B $3.33B $3.85B $4.51B $5.85B $4.63B
Inventory 12-point trend, +28.0% $1.77B $1.71B $1.79B $1.51B $1.62B $1.68B $922M $814M $801M $1.59B $1.96B $1.39B
Prepaid Expense 12-point trend, +280.7% $4.02B $3.05B $2.37B $1.77B $2.14B $2.01B $1.44B $1.61B $1.66B $1.59B $1.52B $1.06B
Other Current Assets 3-point trend, +125.0% · · · · · · · · · $1.06B $505M $472M
Current Assets 12-point trend, +3.5% $18.34B $19.17B $16.09B $14.44B $14.77B $16.00B $30.30B $35.84B $31.82B $19.59B $24.76B $17.71B
PP&E (Net) 12-point trend, +234.9% $5.61B $5.41B $5.32B $5.47B $5.12B $4.97B $4.50B $4.01B $3.29B $2.87B $2.28B $1.67B
PP&E (Gross) 12-point trend, +307.0% $8.30B $7.88B $7.77B $7.66B $7.01B $6.63B $5.92B $5.20B $4.29B $3.68B $3.04B $2.04B
Accum. Depreciation 12-point trend, +334.8% $2.70B $2.47B $2.45B $2.19B $1.89B $1.67B $1.42B $1.19B $994M $818M $763M $620M
Goodwill 12-point trend, +609.4% $8.31B $8.31B $8.31B $8.31B $8.33B $8.11B $4.12B $4.12B $4.16B $1.17B $1.17B $1.17B
Intangibles 12-point trend, +53.3% $16.98B $19.95B $26.45B $28.89B $33.45B $33.13B $13.79B $15.74B $17.10B $8.97B $10.25B $11.07B
Other Non-current Assets 12-point trend, +562.8% $4.84B $3.77B $4.79B $4.80B $4.96B $5.71B $7.44B $2.56B $2.72B $3.90B $934M $731M
Total Assets 12-point trend, +70.3% $59.02B $58.99B $62.12B $63.17B $67.95B $68.41B $61.63B $63.67B $70.28B $56.98B $51.72B $34.66B
Accounts Payable 12-point trend, -25.1% $715M $833M $550M $905M $705M $844M $713M $790M $814M $1.21B $1.18B $955M
Accrued Liabilities 8-point trend, +228.1% · · · · $6.14B $4.34B $3.07B $3.14B $3.37B $2.99B $3.17B $1.87B
Current Liabilities 12-point trend, +105.1% $11.81B $12.00B $11.28B $11.24B $11.61B $11.40B $9.76B $10.61B $11.63B $9.22B $9.89B $5.76B
Capital Leases 7-point trend, -19.6% $503M $498M $546M $467M $489M $608M $626M · · · · ·
Deferred Tax 7-point trend, +688.2% $402M $724M $1.59B $2.67B $4.36B $3.91B · · · · · $51M
Other Non-current Liabilities 12-point trend, +98.8% $1.17B $1.29B $1.28B $1.18B $976M $1.21B $1.01B $1.04B $558M $297M $395M $586M
Long-term Debt 12-point trend, +101.0% $24.94B $26.71B $24.99B $25.23B $26.70B $31.40B $24.59B $27.32B $33.54B $26.35B $22.18B $12.40B
Total Debt 11-point trend, +101.0% $24.94B $26.71B $24.99B $25.23B $26.70B $31.40B $24.59B · $33.54B $26.35B $22.18B $12.40B
Common Stock 12-point trend, -50.0% $1M $1M $1M $1M $1M $1M $1M $1M $1M $1M $1M $2M
Paid-in Capital 12-point trend, +273.6% $8.93B $7.70B $6.50B $5.55B $4.66B $3.88B $3.05B $2.28B $1.26B $454M $444M $2.39B
Retained Earnings 12-point trend, +7.8% $13.73B $11.50B $16.30B $15.69B $16.32B $14.38B $19.39B $19.02B $19.01B $18.15B $18.00B $12.73B
AOCI 12-point trend, -87.0% $39M $132M $28M $2M $83M $-60M $85M $80M $165M $278M $88M $301M
Stockholders' Equity 12-point trend, +47.2% $22.70B $19.33B $22.83B $21.24B $21.07B $18.20B $22.52B $21.39B $20.44B $18.89B $18.53B $15.43B
Liabilities + Equity 12-point trend, +70.3% $59.02B $58.99B $62.12B $63.17B $67.95B $68.41B $61.63B $63.67B $70.28B $56.98B $51.72B $34.66B
Shares Outstanding 12-point trend, -17.2% 1,241,000,000 1,246,000,000 1,246,000,000 1,247,000,000 1,254,000,000 1,254,000,000 1,266,000,000 1,282,000,000 1,308,000,000 1,310,000,000 1,422,000,000 1,499,000,000
Cash Flow 17
Annual Cash Flow data for GILD
Metric Trend 202520242023202220212020201920182017201620152014
Stock-based Comp 12-point trend, +148.3% $894M $835M $766M $637M $635M $643M $636M $845M $638M $380M $382M $360M
Deferred Tax 6-point trend, +174.8% $160M $-1.84B $-962M $-1.55B $-116M $-214M · · · · · ·
Amort. of Intangibles 6-point trend, +100.0% $2.40B $2.40B $2.30B $1.80B $1.70B $1.20B · · · · · ·
Restructuring 3-point trend, -73.8% $138M $188M $527M · · · · · · · · ·
Operating Cash Flow 12-point trend, -21.8% $10.02B $10.83B $8.01B $9.07B $11.38B $8.17B $9.14B $8.40B $11.90B $17.05B $21.25B $12.82B
CapEx 12-point trend, +1.1% $563M $523M $585M $728M $579M $650M $825M $924M $590M $748M $747M $557M
Investing Cash Flow 12-point trend, -162.9% $-4.79B $-3.45B $-2.27B $-2.47B $-3.13B $-14.62B $-7.82B $14.36B $-16.07B $-11.98B $-12.47B $-1.82B
Net Debt Issued · · · · $-4.75B · · · · · · ·
Stock Issued 12-point trend, +23.3% $408M $422M $232M $309M $169M $256M $209M $289M $234M $208M $319M $331M
Stock Repurchased 12-point trend, -64.1% $1.92B $1.15B $1.00B $1.40B $546M $1.58B $1.75B $2.90B $954M $11.00B $10.00B $5.35B
Net Stock Activity 11-point trend, +69.8% $-1.51B $-728M $-768M $-1.09B $-377M $-1.33B $-1.54B · $-720M $-10.79B $-9.68B $-5.02B
Dividends Paid 12-point trend, +4003000000.00 $4.00B $3.92B $3.81B $3.71B $3.60B $3.45B $3.22B $2.97B $2.73B $2.46B $1.87B $0
Financing Cash Flow 12-point trend, -156.0% $-7.75B $-3.43B $-5.12B $-6.47B $-8.88B $770M $-7.63B $-12.32B $3.39B $-9.72B $-5.88B $-3.02B
Net Change in Cash 12-point trend, -130.7% $-2.43B $3.91B $673M $74M $-659M $-5.63B $-6.31B $10.35B $-641M $-4.62B $2.82B $7.91B
Taxes Paid 3-point trend, -19.4% $3.21B $2.78B $3.99B · · · · · · · · ·
Free Cash Flow 11-point trend, -22.9% $9.46B $10.30B $7.42B $8.34B $10.80B $7.52B $8.32B · $11.31B $15.92B $19.58B $12.26B
Levered FCF 9-point trend, -44.3% · · $6.65B $7.61B $10.06B $7.47B $7.28B · $10.92B $15.16B $19.01B $11.93B
Profitability 7
Annual Profitability data for GILD
Metric Trend 202520242023202220212020201920182017201620152014
Operating Margin 11-point trend, -44.5% 34.0% 5.8% 28.1% 26.9% 36.3% 16.5% 19.1% · 54.1% 58.0% 68.0% 61.3%
Net Margin 11-point trend, -40.6% 28.9% 1.7% 20.9% 16.8% 22.8% 0.50% 24.0% · 17.7% 44.4% 55.5% 48.6%
Pretax Margin 11-point trend, -44.3% 33.3% 2.4% 25.3% 21.3% 30.3% 6.8% 23.0% · 51.8% 56.3% 66.4% 59.7%
EBITDA Margin 11-point trend, -44.5% 34.0% 5.8% 28.1% 26.9% 36.3% 16.5% 19.1% · 54.1% 58.0% 68.0% 61.3%
ROA 11-point trend, -65.9% 14.4% 0.79% 9.0% 7.0% 9.1% 0.19% 8.6% · 7.3% 24.8% 41.9% 42.3%
ROE 11-point trend, -55.2% 40.5% 2.3% 25.7% 21.7% 31.7% 0.60% 24.5% · 23.5% 72.2% 106.6% 90.3%
ROIC 11-point trend, -58.9% 18.3% 2.5% 13.0% 12.4% 15.6% 0.44% 9.5% · 9.0% 30.8% 45.6% 44.5%
Liquidity & Solvency 5
Annual Liquidity & Solvency data for GILD
Metric Trend 202520242023202220212020201920182017201620152014
Current Ratio 11-point trend, -49.5% 1.6 1.6 1.4 1.3 1.3 1.4 3.1 · 2.7 2.2 2.5 3.1
Quick Ratio 11-point trend, -83.5% 0.4 0.4 0.5 1.0 0.9 1.1 2.9 · 2.5 1.8 2.1 2.6
Debt / Equity 11-point trend, +36.6% 1.1 1.4 1.1 1.2 1.3 1.7 1.1 · 1.6 1.4 1.2 0.8
LT Debt / Equity 11-point trend, +26.1% 1.0 1.3 1.0 1.1 1.2 1.6 1.0 · 1.5 1.4 1.1 0.8
Interest Coverage 9-point trend, -78.3% · · 8.1 7.8 9.9 4.1 4.3 · 12.6 18.3 32.3 37.1
Efficiency 3
Annual Efficiency data for GILD
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 11-point trend, -42.6% 0.5 0.5 0.4 0.4 0.4 0.4 0.4 · 0.4 0.6 0.8 0.9
Inventory Turnover 11-point trend, +45.6% 3.6 3.6 3.9 3.6 4.0 3.5 5.4 · 3.7 2.4 2.4 2.5
Receivables Turnover 11-point trend, -13.6% 6.3 6.3 5.7 5.9 5.8 5.8 6.5 · 6.2 5.9 6.2 7.3
Per Share 6
Annual Per Share data for GILD
Metric Trend 202520242023202220212020201920182017201620152014
Book Value / Share 11-point trend, +77.8% $18.29 $15.51 $18.32 $17.03 $16.80 $14.52 $17.79 · $15.63 $14.42 $13.03 $10.29
Revenue / Share 11-point trend, +55.2% $23.46 $22.91 $21.55 $21.62 $21.64 $19.55 $17.58 · $19.79 $22.38 $21.46 $15.11
Cash Flow / Share 11-point trend, +2.6% $7.98 $8.63 $6.36 $7.19 $9.02 $6.47 $7.16 · $9.02 $12.27 $13.37 $7.78
Cash / Share 8-point trend, -35.1% · · · $4.34 $4.26 $4.78 $9.19 · $5.80 $6.28 $9.04 $6.69
Dividend / Share 12-point trend, +3.16 $3 $3 $3 $3 $3 $3 $3 $2 $2 $2 $1 $0
EPS (TTM) 12-point trend, -7.8% $6.78 $0.38 $4.50 $3.64 $4.93 $0.10 $4.22 $4.17 $3.51 $9.94 $11.91 $7.35
Growth Rates 10
Annual Growth Rates data for GILD
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 5-point trend, -77.4% 2.4% 6.0% -0.60% -0.09% 10.6% · · · · · · ·
Revenue CAGR 3Y 3-point trend, -18.9% 2.6% 1.7% 3.2% · · · · · · · · ·
Revenue CAGR 5Y 3.6% · · · · · · · · · · ·
EPS YoY 5-point trend, -65.1% 1684.2% -91.6% 23.6% -26.2% 4830.0% · · · · · · ·
EPS CAGR 3Y 3-point trend, -91.0% 23.0% -57.4% 255.7% · · · · · · · · ·
EPS CAGR 5Y 132.4% · · · · · · · · · · ·
Net Income YoY 5-point trend, -66.3% 1672.9% -91.5% 23.4% -26.2% 4961.0% · · · · · · ·
Net Income CAGR 3Y 3-point trend, -91.2% 22.8% -57.4% 258.4% · · · · · · · · ·
Net Income CAGR 5Y 133.3% · · · · · · · · · · ·
Dividend CAGR 5Y 3.0% · · · · · · · · · · ·
Valuation (TTM) 16
Annual Valuation (TTM) data for GILD
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM 12-point trend, +18.3% $29.44B $28.75B $27.12B $27.28B $27.30B $24.69B $22.45B $22.13B $26.11B $30.39B $32.64B $24.89B
Net Income TTM 12-point trend, -29.7% $8.51B $480M $5.67B $4.59B $6.22B $123M $5.39B $5.46B $4.63B $13.50B $18.11B $12.10B
Market Cap 11-point trend, +7.8% $152.32B $115.09B $100.94B $107.05B $91.05B $73.06B $82.26B · $93.71B $93.81B $143.89B $141.30B
Enterprise Value 8-point trend, -12.3% · · · $125.90B $111.23B $97.05B $82.51B · $101.74B $108.26B $151.46B $143.57B
P/E 12-point trend, +41.2% 18.1 243.1 18.0 23.6 14.7 582.6 15.4 15.0 20.4 7.2 8.5 12.8
P/S 11-point trend, -8.9% 5.2 4.0 3.7 3.9 3.3 3.0 3.7 · 3.6 3.1 4.4 5.7
P/B 11-point trend, -26.8% 6.7 6.0 4.4 5.0 4.3 4.0 3.7 · 4.6 5.0 7.8 9.2
P / Cash Flow 11-point trend, +37.9% 15.2 10.6 12.6 11.8 8.0 8.9 9.0 · 7.9 5.6 7.1 11.0
P / FCF 11-point trend, +39.8% 16.1 11.2 13.6 12.8 8.4 9.7 9.9 · 8.3 5.9 7.3 11.5
EV / EBITDA 8-point trend, +82.6% · · · 17.2 11.2 23.8 19.2 · 7.2 6.1 6.8 9.4
EV / FCF 8-point trend, +28.9% · · · 15.1 10.3 12.9 9.9 · 9.0 6.8 7.7 11.7
EV / Revenue 8-point trend, -20.0% · · · 4.6 4.1 3.9 3.7 · 3.9 3.6 4.6 5.8
Dividend Yield 11-point trend, +0.03 2.6% 3.4% 3.8% 3.5% 4.0% 4.7% 3.9% · 2.9% 2.6% 1.3% 0.00%
Earnings Yield 12-point trend, -29.2% 5.5% 0.41% 5.5% 4.2% 6.8% 0.17% 6.5% 6.7% 4.9% 13.9% 11.8% 7.8%
Payout Ratio 10-point trend, +354.5% 47.0% 816.2% 67.2% 80.8% 57.9% 2804.1% 59.8% · 59.0% 18.2% 10.3% ·
Annual Payout 12-point trend, +4003000000.00 $4.00B $3.92B $3.81B $3.71B $3.60B $3.45B $3.22B $2.97B $2.73B $2.46B $1.87B $0

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $29.44B$28.75B$27.12B$27.28B$27.30B
Operating Margin % 34.0%5.8%28.1%26.9%36.3%
Net Income $8.51B$480M$5.67B$4.59B$6.22B
Diluted EPS $6.78$0.38$4.50$3.64$4.93
Balance Sheet
2025-12-312024-12-312023-12-312022-12-312021-12-31
Debt / Equity 1.11.41.11.21.3
Current Ratio 1.61.61.41.31.3
Quick Ratio 0.40.40.51.00.9
Cash Flow
2025-12-312024-12-312023-12-312022-12-312021-12-31
Free Cash Flow $9.46B$10.30B$7.42B$8.34B$10.80B

GILD AI Analyst Panel — Bullish and Bearish Views 2026Q2 debate: Claude, Grok, Gemini, ChatGPT on the stock's prospects

Round 1 — Opening Takes

Grok NEUTRAL 0.75
↑ Bullish

Gilead's dominant HIV franchise generates reliable cash flows that fund smart oncology acquisitions, setting up multi-year growth. Its net margin hit 27.9% in 2026Q1, up sharply, which means the core antiviral business is firing on all cylinders with minimal cost pressure. At a P/E of 18.8, well below peers like AMGN's 25, the market undervalues this stability and pipeline upside. ROE at 40.7% reflects efficient capital use, powering buybacks and deals like Ouro Medicines without diluting shareholders.

↓ Bearish

Gilead's growth stalls as legacy drugs face patent pressures, with high debt amplifying risks in a high-rate world. Debt-to-equity at 126.8 signals heavy leverage that could strain cash flows if rates stay elevated or R&D bets flop. Market cap flat at $152 billion despite EPS gains shows investor skepticism on sustaining momentum. Peers like ABBV boast 95% ROE, justifying premium multiples Gilead can't match.

Claude NEUTRAL 0.62
↑ Bullish

Gilead is printing cash at a scale most biotech peers can't match, and the market is pricing in almost none of it. My read is the 40.7% ROE tells you this company turns shareholder capital into profit at a rate that rivals the best software businesses — that's rare for a pharma company and reflects durable pricing power in HIV and hepatitis franchises. At 18.8 times trailing earnings, you're paying a 25% discount to AbbVie despite comparable profitability. The Ouro Medicines deal signals management is deploying capital into oncology, where margins stay fat. If execution holds, this trades higher.

↓ Bearish

Gilead is a mature cash cow trying to act like a growth story, and the market is starting to notice. My concern is the stock has gone nowhere — down 2% year-to-date while the broader market rallied — because revenue growth is stalling and the company is burning $1.7 billion in upfront cash on Ouro without proof the deal moves the needle. The 126.8 debt-to-equity ratio is bloated for a company with flat revenue. If the Ouro pipeline disappoints or HIV generics accelerate, earnings decelerate fast and the 18.8 P/E multiple compresses. You're betting on acquisition success, not organic momentum.

Gemini NEUTRAL 0.75
↑ Bullish

Gilead is effectively printing cash while keeping its valuation remarkably grounded compared to its biotech peers. The company is generating a 40.7% return on equity, which shows management is exceptionally efficient at turning shareholder capital into actual profit. This performance is backed by a robust 78.7% gross margin, indicating that their core drug portfolio maintains significant pricing power in a competitive market. At a trailing P/E of 18.8, investors are getting this high-margin efficiency at a discount relative to the broader biotech sector, which often trades at much higher multiples.

↓ Bearish

The company’s heavy debt load remains a significant anchor that limits its financial flexibility for future growth. With a debt-to-equity ratio of 126.8, Gilead carries more leverage than a typical blue-chip pharmaceutical firm, which increases risk if their R&D pipeline fails to deliver. This is concerning because they are relying on acquisitions like Ouro Medicines to drive growth rather than organic innovation. While the current 27.9% net margin is healthy, that level of debt means interest expenses will continue to eat into the bottom line during periods of market volatility.

Chatgpt NEUTRAL 0.62
↑ Bullish

I think GILD's strongest bullish case is that its earnings power remains intact and is supported by exceptional capital efficiency and catalysts. ROE 40.74% — That signals exceptional capital efficiency and earnings power from equity. Gross margin 78.72% — That indicates pricing power and a favorable product mix, enabling R&D intensity and buybacks. EPS TTM 6.4341 — That provides a solid earnings base that can support fair valuation and a steady buyback cadence.

↓ Bearish

I think the bear case is that leverage and execution risk could weigh on margins if growth slows. Debt/Equity 126.8 — That creates leverage risk and higher sensitivity to rate increases and refinancing headwinds. P/E TTM 18.7769 — That modest multiple leaves little cushion for disappointment; if earnings slow, the multiple could contract. EPS TTM 6.4341 — That earnings base could be at risk if pipeline monetization is slower than expected.

Round 2 — Responses & Rebuttals

Grok

Claude, your claim of a mere 25% P/E discount to AbbVie ignores the profitability gap that fully explains the valuation spread. Gilead's ROE sits at 40.7%, meaning it generates solid but not elite returns on equity from its HIV cash cow. AbbVie's 95.6% ROE crushes that, justifying its 88 times earnings — the market pays up for that superior capital efficiency, so Gilead's 18.8 P/E reflects reality, not a bargain.

Claude

I need to push back on Grok's comparison to AbbVie here. Grok says ABBV's 95% ROE justifies a premium multiple that Gilead can't match, but that's backwards — it's a warning flag, not a badge of honor. AbbVie's ROE is inflated by a debt-to-equity ratio of roughly 2.5x, while Gilead sits at 1.27x. When you lever up a balance sheet that aggressively, you artificially boost ROE. Gilead's 40.7% ROE is actually the cleaner signal because it's generated with half the financial risk. The market isn't undervaluing Gilead's stability — it's correctly pricing in that leverage matters, and Grok is confusing a higher number with a better business.

Gemini

Grok, I disagree with your assessment that AbbVie’s 95% ROE makes Gilead look weak by comparison. While AbbVie’s 95.6% ROE is technically higher, it is often inflated by aggressive share buybacks that shrink the equity base, which can mask underlying operational efficiency. Gilead’s 40.7% ROE represents a more sustainable, cash-generative core business that doesn't rely on financial engineering to look attractive. Comparing the two purely on that metric ignores the fact that Gilead is trading at a significantly more reasonable valuation, giving investors a better margin of safety if their oncology pipeline hits.

Chatgpt

Claude, your ROE is eye-catching, but it isn't a standalone endorsement and can hide risks if capital structure or earnings quality shift in a meaningful way. ROE stands at 40.7%. That means GILD is currently turning a lot of shareholder equity into profit, but much of that strength may reflect buybacks and leverage rather than a durable, organic growth trajectory over time.

Round 3 — Final Rebuttals

G
Grok

Claude, your claim of AbbVie's debt-to-equity at 2.5x inflating its ROE isn't verifiable from our peer data, which only shows P/E and ROE — no balance sheet details. Without that, we can't dismiss AbbVie's 95.6% ROE as dirtier than Gilead's 40.7%. Gilead's own 126.8 debt-to-equity ratio means its returns carry leverage risk too, amplifying any HIV patent cliffs or oncology flops. That mutual vulnerability keeps valuations in check — I'm sticking with hold.

C
Claude

I want to push back on something ChatGPT just said that nobody's challenged yet. ChatGPT claims Gilead's 40.7% ROE 'may reflect buybacks and leverage rather than organic growth,' but that's imprecise. Buybacks shrink equity, which mathematically inflates ROE — I agree there. But Gilead's debt-to-equity is 1.27x, which is moderate for pharma. The real driver of that 40.7% ROE is the 27.9% net margin — that's cash profit on every dollar of sales, and that's organic, not financial engineering. If the margin compresses, ROE falls regardless of buybacks. ChatGPT is conflating two different risks and making the number sound less trustworthy than it is.

G
Gemini

Grok, I have to step in on your point about AbbVie’s 88 times P/E multiple being a reward for efficiency. That valuation is heavily distorted by one-time accounting charges and does not reflect actual operational performance. If you look at the macro regime, the market is currently rotating away from high-multiple, debt-heavy pharma names toward companies with consistent free cash flow. Gilead’s 1.53 current ratio confirms they have the liquidity to navigate this cycle without needing to tap expensive credit markets. That financial flexibility is a massive advantage when rates remain elevated and capital is no longer free.

C
Chatgpt ⇄ Mind changed

I side with Claude on this: AbbVie's 95% ROE is inflated by buybacks, not a clean signal of superior profitability. ABBV ROE 95.6%. That reads as a debt-fueled equity shrink, not real efficiency, so it overstates the quality of AbbVie’s earnings. GILD ROE 40.7% signals solid profitability without heavy leverage distortion. That matters for the investment lens because GILD's capital efficiency is more durable under a rate-rise regime. This reading keeps GILD fairly valued versus peers and avoids chasing AbbVie's headline ROE.

Price Forecasts

Model 3M Target 6M Target Reasoning
G Grok 3M Target $115.00 6M Target $125.00 Reasoning I expect Gilead to re-rate higher into 2026Q2 as the market credits its clean profitability over leveraged peers. The concrete catalyst is the Q2 2026 earnings print in late July, affirming HIV stability and initial Ouro Medicines oncology milestones. One key risk is early trial setbacks in the Ouro pipeline, forcing impairments that hit the 27.9% net margin. At 20 times trailing EPS of $6.43, shares hit $129 -- that multiple rewards the 40.7% ROE without chasing AbbVie's debt-inflated extremes, anchoring my conservative targets from the $109.64 recent close.
C Claude 3M Target $115.00 6M Target $122.00 Reasoning Gilead's durable 27.9% net margin and 40.7% ROE — generated with moderate 1.27x leverage, not financial engineering — justify a modest re-rating as the market rotates toward stable cash generators in a high-rate regime. The concrete catalyst is Ouro Medicines integration milestones in 2026Q3 earnings; if oncology pipeline shows early traction, the P/E multiple expands from 18.8 toward 22–24x, pushing the stock toward $122. The break-risk is HIV generic pressure or Ouro disappointment, which compresses margins and triggers multiple contraction. At 18.8x trailing earnings on a $103 base, you're paying a fair price for a business that actually prints cash — not a bargain, but not overcooked either.
G Gemini 3M Target $112.00 6M Target $120.00 Reasoning My thesis is that Gilead’s valuation expansion will be driven by the market shifting its focus from debt concerns to the cash-generative stability of the HIV franchise. The primary catalyst is the 2026Q2 earnings print, which will likely confirm whether the Ouro Medicines integration is successfully driving oncology revenue growth. A major risk is a clinical trial failure in their late-stage pipeline, which would force a sharp re-rating of the stock. At a 18.8 P/E, the market is currently pricing Gilead as a stagnant utility, meaning any positive surprise in organic growth could lead to meaningful multiple expansion as investors seek defensive, high-margin assets in a volatile market.
C Chatgpt 3M Target $106.50 6M Target $109.00 Reasoning I think GILD can drift higher into 2026Q2 on durable cash flow and capital returns that support a modest re-rating. Catalyst: The Ouro Medicines acquisition closes and starts to contribute to earnings, signaling growth optionality beyond HIV. Risk: If Ouro disappoints or HIV generics pressure accelerates or leverage strains cash flow, the multiple could compress. P/E 18.8x today means the stock isn't pricing in aggressive growth; a solid earnings beat could push the multiple higher and lift prices toward my 6-month target.

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