GILEAD SCIENCES, INC.

Listed Company

GILDCIK 0000882095NasdaqLarge AcceleratedBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$29.44B

Net Income

$8.51B

Total Assets

$59.02B

Equity

$22.70B

Shares Out

1.24B

Op. Cash Flow

$10.02B

+ 13F Filer+ Insider

Business

GILEAD SCIENCES, INC. is a biopharmaceutical company that discovers, develops and delivers innovative medicines to prevent and treat life‑threatening diseases including HIV, viral hepatitis, COVID‑19, cancer and inflammatory conditions. It offers approved antiviral therapies (HIV and hepatitis products), a COVID‑19 antiviral, oncology treatments including CAR T‑cell therapies and antibody‑drug conjugates, antifungals and other specialty medicines, as well as royalty, contract and collaboration revenues. Key business areas include commercial operations, research and development, manufacturing and strategic collaborations/licensing. Gilead markets products via U.S. and international commercial teams, wholesalers, distributors and corporate partners in more than 35 countries.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	29,443	28,754	27,116	27,281	27,305
Cost of goods sold	6,234	6,251	6,498	5,657	6,601
Research and development expenses	5,799	5,907	5,718	4,977	4,601
Acquired in-process research and development expenses	1,024	4,663	1,155	944	939
In-process research and development impairments	590	4,200	50	2,700	0
Selling, general and administrative expenses	5,774	6,091	6,090	5,673	5,246
Total costs and expenses	19,421	27,092	19,511	19,951	17,387
Operating income	10,022	1,662	7,605	7,330	9,918
Interest expense	1,024	977	944	935	—
Other (income) expense, net	−798	−6	−198	581	−639
Income before income taxes	9,796	690	6,859	5,814	8,278
Income tax (benefit) expense	1,286	211	1,247	1,248	−2,077
Net income	8,510	480	5,613	4,566	6,201
Net loss attributable to noncontrolling interest	0	0	−52	−26	24
Net income attributable to Gilead	8,510	480	5,665	4,592	6,225
Basic earnings per share attributable to Gilead (in dollars per share)	6.84	0.38	4.54	3.66	4.96
Diluted earnings per share attributable to Gilead (in dollars per share)	6.78	0.38	4.5	3.64	4.93
Shares used in basic earnings per share attributable to Gilead calculation (in shares)	1,244	1,247	1,248	1,255	1,256
Shares used in diluted earnings per share attributable to Gilead calculation (in shares)	1,255	1,255	1,258	1,262	1,262

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	7,564	9,991	6,085	5,412	5,338
Short-term marketable debt securities	68	0	1,179	973	1,182
Accounts receivable, net	4,913	4,420	4,660	4,777	4,493
Inventories	1,774	1,710	1,787	1,507	1,618
Prepaid and other current assets	4,024	3,052	2,374	1,774	2,141
Total current assets	18,342	19,173	16,085	14,443	14,772
Property, plant and equipment, net	5,606	5,414	5,317	5,475	5,121
Long-term marketable debt securities	2,974	0	1,163	1,245	1,309
Intangible assets, net	16,978	19,948	26,454	28,894	33,455
Goodwill	8,314	8,314	8,314	8,314	8,332
Deferred tax assets	1,964	2,378	—	—	—
Other long-term assets	4,845	3,769	4,792	4,800	4,963
Total assets	59,023	58,995	62,125	63,171	67,952
Accounts payable	715	833	550	905	705
Accrued rebates	4,337	3,892	3,802	3,479	3,244
Current portion of long-term debt, net	2,807	1,815	1,798	2,273	1,516
Other current liabilities	3,953	5,464	5,130	4,580	6,145
Total current liabilities	11,813	12,004	11,280	11,237	11,610
Long-term debt, net	22,129	24,896	23,189	22,957	25,179
Long-term income taxes payable	896	830	2,039	3,916	4,767
Deferred tax liabilities	402	724	1,588	2,673	4,356
Other long-term liabilities	1,165	1,295	1,280	1,179	976
Commitments and contingencies (Note 12)	—	—	—	—	—
Preferred stock, par value $0.001 per share; 5 shares authorized; none outstanding	0	0	0	0	0
Common stock, par value $0.001 per share; 5,600 authorized; 1,241 and 1,246 shares issued and outstanding, respectively	1	1	1	1	1
Additional paid-in capital	8,932	7,700	6,500	5,550	4,661
Accumulated other comprehensive income	39	132	28	2	83
Retained earnings	13,730	11,497	16,304	15,687	16,324
Total Gilead stockholders equity	22,703	19,330	22,833	21,240	21,069
Noncontrolling interest	−84	−84	−84	−31	−5
Total stockholders equity	22,618	19,246	22,749	21,209	21,064
Total liabilities and stockholders equity	59,023	58,995	62,125	63,171	67,952

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation expense	370	381	354	323	329
Amortization expense	2,390	2,386	2,339	1,780	1,721
Stock-based compensation expense	894	835	766	637	635
Deferred income taxes	160	−1,844	−962	−1,552	−116
Net (gain) loss from equity securities	−451	274	167	657	610
Other, net	480	353	826	780	576
Accounts receivable, net	−367	139	157	−406	313
Inventories	−1,036	−426	−842	−310	11
Prepaid expenses and other	−311	−259	39	−134	−45
Accounts payable	−132	290	−347	226	−118
Income tax assets and liabilities, net	−2,108	−732	−1,768	−364	−361
Accrued and other liabilities	6	108	458	−775	689
Net cash provided by operating activities	10,019	10,828	8,006	9,072	11,384
Purchases of marketable debt securities	−3,939	−244	−1,930	−1,770	−3,517
Proceeds from sales of marketable debt securities	854	2,265	510	412	730
Proceeds from maturities of marketable debt securities	55	327	1,334	1,590	2,180
Acquisitions, including in-process research and development, net of cash acquired	−1,070	−4,840	−1,152	−1,797	−1,584
Purchases of equity securities	−133	−492	−442	−172	−380
Purchases of property, plant and equipment	−563	−523	−585	−728	−579
Other investing activities, net	2	58	−1	−1	19
Net cash used in investing activities	−4,793	−3,449	−2,265	−2,466	−3,131
Proceeds from debt financing, net of issuance costs	0	3,464	1,980	0	0
Proceeds from issuances of common stock	408	422	232	309	169
Repurchases of common stock under repurchase programs	−1,922	−1,150	−1,000	−1,396	−546
Repayments of debt and other obligations	−1,788	−1,970	−2,250	−1,500	−4,750
Payments of dividends	−4,003	−3,918	−3,809	−3,709	−3,605
Other financing activities, net	−440	−281	−279	−173	−145
Net cash used in financing activities	−7,745	−3,433	−5,125	−6,469	−8,877
Effect of exchange rate changes on cash and cash equivalents	92	−40	57	−63	−35
Net change in cash and cash equivalents	−2,428	3,906	673	74	−659

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro

Holdings (13F)

Portfolio as of 2025-12-31 · 6 positions

Reported AUM

$1.94B

Holdings

Top sector

$1.94B

Top sectors

Sector	Value	% of portfolio
Uncategorized	$1.94B	100.0%

Top holdings

Issuer	Ticker	Shares	Value	%
ARCUS BIOSCIENCES INC	—	31.42M	$748.85M	38.7%
GALAPAGOS NV	—	16.71M	$550.62M	28.4%
ARCELLX INC	—	6.72M	$438.20M	22.6%
ASSEMBLY BIOSCIENCES INC	—	4.51M	$153.23M	7.9%
KYVERNA THERAPEUTICS INC	—	4.13M	$38.78M	2.0%
XILIO THERAPEUTICS INC	—	9.11M	$5.83M	0.3%

Insider Activity

Person — GILEAD SCIENCES, INC.

CIK: 0000882095
Insider filer: Yes

Positions

Company	Ticker	Role	Title	Tenure
ASSEMBLY BIOSCIENCES, INC.	ASMB	ten_percent	—	2023-10-25 → 2026-05-27
Xilio Therapeutics, Inc.	XLO	ten_percent	—	2024-04-03 → 2026-02-17
Arcus Biosciences, Inc.	RCUS	ten_percent	—	2020-07-17 → 2025-02-20
LEAP THERAPEUTICS, INC.	LPTX	ten_percent	—	2024-04-19
Kyverna Therapeutics, Inc.	KYTX	ten_percent	—	2024-02-07 → 2024-02-13
Arcellx, Inc.	ACLX	ten_percent	—	2023-12-28
HOOKIPA Pharma Inc.	HOOK	ten_percent	—	2022-02-17 → 2023-12-22
Allovir, Inc.	ALVR	ten_percent	—	2022-08-05 → 2023-06-28
Jounce Therapeutics, Inc.	JNCE	ten_percent	—	2020-10-26
ACHILLION PHARMACEUTICALS INC	ACHN	ten_percent	—	2006-10-25 → 2006-11-02