GILD
GILEAD SCIENCES, INC.
Healthcare • CIK: 0000882095
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Market Cap
$152.66B
P/E (TTM)
17.9x
Rev Growth (TTM)
+2.4%
Net Margin (TTM)
28.9%
FCF Yield (TTM)
6.2%
FCF Margin (TTM)
32.1%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$9.5B
Q4 '25
$3.1B-21%
Q3 '25
$4.0B+450%
FCF Margin
TTM32.1%
Q4 '2539.4%-23%
Sector: 0.0%Top 10%
OCF Margin34.0%
OCF/NI1.18x
CapEx Coverage17.8x
FCF Yield6.2%
FCF Growth (2Y)+4%
Cash Conversion Cycle
120 days
DSO: 59+DIO: 104−DPO: 42
Capital Allocation & Returns
Balanced
Total Shareholder YieldTTM
TTM3.8%
Div Yield2.6%
+Buyback (TTM)1.3%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)2.6%
FCF Payout Ratio41.6%
Free Cash Flow (TTM)$9.5B
Stock Repurchases (TTM)$1.9B
Capital Return / FCF62.7%
Est. Dividends Paid (TTM)$3.9B
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
19.1%
Volatile
+0.2% YoY+34.5%
P25MedianP75
75th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
29.6%
8Q: 26.5%
Asset Turnover
0.51x
8Q: 0.52x
Leverage (1+D/E)
2.10x
D/E: 1.10x
DuPont: 31.8% ≈ 19.1% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
5.38x
8Q:5.41x
+42.7%
Invested Cap Turn
0.78x
8Q:0.77x
+15.1%
CapEx Intensity
1.5%
8Q:1.4%
CapEx/Depreciation
1.52x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $29.4B | $7.9B↑2.0% | $7.8B↑9.7% | $7.1B↑6.2% | $6.7B↓11.9% | $7.6B↑0.3% | $7.5B↑8.5% | $7.0B↑4.0% | $6.7B |
Operating Income | $10.0B | $2.0B↓40.4% | $3.3B↑34.5% | $2.5B↑10.6% | $2.2B↓8.8% | $2.5B↑176.1% | $888.0M↓66.4% | $2.6B↑161.2% | $-4.3B |
Net Income | $8.5B | $2.2B↓28.5% | $3.1B↑55.7% | $2.0B↑49.0% | $1.3B↓26.2% | $1.8B↑42.3% | $1.3B↓22.4% | $1.6B↑138.7% | $-4.2B |
Operating Cash Flow | $10.0B | $3.3B↓19.0% | $4.1B↑396.7% | $827.0M↓52.9% | $1.8B↓40.9% | $3.0B↓31.0% | $4.3B↑225.2% | $1.3B↓40.3% | $2.2B |
Free Cash Flow | $9.5B | $3.1B↓21.2% | $4.0B↑450.1% | $720.0M↓56.4% | $1.7B↓41.5% | $2.8B↓32.1% | $4.2B↑248.8% | $1.2B↓43.5% | $2.1B |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
17.9x
Volatile
8Q: 67.4x+5020%
Valuation Lenses
Earnings
17.9x
vs – sector
Cash Flow
18.0x
EV/FCF vs –
Growth-Adj
0.0xPEG
Undervalued for growth
Quality-Adj
0.9P/E per %ROIC
ROIC: 19.1%
Shareholder Returns
Dividend
2.6%
Buyback
1.3%
Total Yield
3.8%
Market Cap$152.66B
EV$170.50B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
71/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 25%
41.8%
8Q:–
Return on Invested Capital (ROIC)Top 25%
19.1%
8Q:–
+34.5%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 29.6%
Asset Turnover: 0.51x
Earnings Quality
Cash Conversion
1.18x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin78.8%
Capital Efficiency
Invested Capital Turnover0.78x
Working Capital
Cash Conversion Cycle120 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
54/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
2.4%
OpInc Growth YoY
-19.1%
EPS Growth YoY
1729.7%
FCF 3Y CAGR
4.1%
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
78.8%
Operating
34.0%
Top 25% in sector
Net
28.9%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+3.2 pts
FCF: 32.1% | Net: 28.9%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Leveraged
Net Debt / EBITDA
–Net Debt: $17.30B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
1.10x
Balance sheet risk & solvency analysis