Gilead Sciences, Inc.GILD
NasdaqGS•Healthcare•Drug Manufacturers - General
Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Descovy, Genvoya, Odefsey, Sunlenca, Symtuza, and YeztugoFor the treatment of HIV-1 infection in patients. It also provides Epclusa, Livdelzi, and Vemlidy to treat chronic hepatitis C virus, primary biliary cholangitis, and chronic hepatitis B virus; Tecartus, a T-cell therapy for the treatment of adult patients; Trodelvy, an injection for intravenous use; and Yescarta, a suspension for intravenous infusion, is a CAR T-cell therapy for the treatment of adult patients. Further, it provides AmBisome, for the treatment of serious invasive fungal infections; and Veklury for the treatment of COVID-19. Additionally, the company engages in the development of various immunotherapies for patients with cancer and other incurable diseases. The company has collaboration agreements with Shenzhen Pregene Biopharma Co., Ltd.; Abingworth; Arcus Biosciences, Inc.; Merck Sharp & Dohme Corp.; Janssen Sciences Ireland Unlimited Company; Japan Tobacco, Inc.; Everest Medicines; Merck & Co, Inc.; Tentarix Biotherapeutics Inc.; and Assembly Biosciences, Inc. It also has research collaboration, option, and license agreement with Merus N.V. for the discovery of novel dual tumor-associated antigens (TAA) targeting trispecific antibodies. The company has a collaboration with Terray Therapeutics, Inc. to discover and develop small molecule therapies; and LEO Pharma to develop, manufacture, and commercialize the small molecule oral STAT6 program. The company was incorporated in 1987 and is headquartered in Foster City, California.
Gilead Sciences, Inc. (GILD) reported trailing twelve months revenue of $29.74B as of March 2026, a 3.5% increase year-over-year. Quarterly revenue reached $6.96B, reflecting continued top-line momentum.
Gilead Sciences, Inc. generated $9.22B in TTM net income, with quarterly EBITDA of $2.59B. The operating margin expanded from 33.6% to 37.2%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (37.2%) and net margin (29.0%) indicates moderate non-operating costs. Net margin has improved from 19.7% a year ago, signaling stronger bottom-line efficiency.
GILD trades at a P/E of 18.4x (in line with broad market averages) and a P/S of 5.7x. The price-to-book ratio of 7.2x indicates a significant premium over book value.
The company generated $2.43B in free cash flow over the trailing twelve months, a 46.8% increase year-over-year, indicating cash generation ability. The balance sheet shows $56.28B in total assets with $20.86B in long-term debt against $23.52B in stockholders equity for a debt-to-equity ratio of 0.9. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~32.0%, suggesting durable pricing power and cost discipline.
ROE averages 23.3% but has fluctuated — the competitive advantage may be cyclical or emerging.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~6.9% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~35.0% — no sign of cost or pricing stress.
FCF covers net income by 1.4x on average — earnings are well-supported by cash generation.
D/E ratio is 0.9 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation