Download PDF

1. Company Snapshot

1.a. Company Description

GSK plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally.It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, HIV, immuno-inflammation, oncology, anti-viral, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterial, and dermatology.


It also provides consumer healthcare products in wellness, oral health, nutrition, and skin health categories.The company offers its consumer healthcare products in the form of nasal sprays, tablets, syrups, lozenges, gum and trans-dermal patches, caplets, infant syrup drops, liquid filled suspension, wipes, gels, effervescents, toothpastes, toothbrushes, mouthwashes, denture adhesives and cleansers, topical creams and non-medicated patches, lip balm, gummies, and soft chews.It has collaboration agreements with 23andMe; Lyell Immunopharma, Inc.; Novartis; Sanofi SA; Surface Oncology; Progentec Diagnostics, Inc.; Alector, Inc.; and CureVac AG., as well as strategic partnership with IDEAYA Biosciences, Inc.


and Vir Biotechnology, Inc.The company was formerly known as GlaxoSmithKline plc and changed its name to GSK plc in May 2022.GSK plc was founded in 1715 and is headquartered in Brentford, the United Kingdom.

Show Full description

1.b. Last Insights on GSK

GSK's recent performance has been driven by several positive factors. The company's Q3 earnings and revenue beat expectations, with earnings and revenue surprises of +17.46% and +3.23%, respectively. Additionally, GSK has raised its 2025 guidance, which widely outperformed expectations. The company has also received a fresh FDA approval and pipeline deals, setting the stage for its post-Walmsley transformation. Furthermore, GSK's digital transformation and ongoing investments in manufacturing have led to a modest increase in its Fair Value Estimate.

1.c. Company Highlights

2. GSK's Q3 2025 Earnings Report: Strong Performance and Upgraded Guidance

GSK's Q3 2025 results showcased a robust financial performance, with total sales up 8% to GBP 8.5 billion, driven by Specialty Medicines (up 16%) and strong demand for Shingrix, Arexvy, and meningitis vaccines in Europe. Core operating profit grew 11%, and core earnings per share rose 14% to 55p. The actual EPS came in at 0.558, beating analyst estimates of 0.4763. The company's cash generation remains positive, with £6.3 billion for the year, supporting investment and returns to shareholders.

Publication Date: Oct -30

📋 Highlights

Segmental Performance

The Specialty Medicines segment continues to drive growth, with double-digit growth in Respiratory, Immunology, and Inflammation (RI&I) (up 15%), oncology (up 39%), and HIV (up 12%). The HIV portfolio's double-digit growth was driven by long-acting injectables and Dovato, with Cabenuva growing 48%. The Vaccines segment also performed well, with sales up 2% to GBP 2.7 billion, driven by strong demand for Shingrix, Arexvy, and Bexsero.

Guidance Upgrade and Outlook

GSK upgraded its full-year sales expectations from 3%-5% to 6%-7%, with underlying upgrades for Specialty, including HIV. The company now expects to be towards the top of the vaccines range. The operating margin improved 90 bps in the quarter, driven by SG&A margin improvement of 70 bps, demonstrating efficiency gains through the returns-based approach.

Valuation Metrics

Using the current P/E Ratio of 20.53 and EV/EBITDA of 9.17, it appears that GSK's strong performance and upgraded guidance are not entirely reflected in its valuation. Analysts estimate next year's revenue growth at 5.2%, which may not be fully priced in. With a Dividend Yield of 3.39% and Free Cash Flow Yield of 7.48%, GSK presents an attractive investment opportunity.

Pipeline and Future Prospects

As Emma Walmsley mentioned, "investing for growth remains GSK's #1 priority, with 15 scale opportunities with peak year sales potential of greater than £2 billion." The company's pipeline is expected to drive future growth, with several late-stage assets and upcoming readouts, including the rectal readout in Jemperli. GSK's long-acting portfolio is also expected to expand, with depemokimab and BLENREP showing promising results.

3. NewsRoom

Card image cap

FTSE 100 Live: Stocks to plunge after wild ride on Wall Street, as bitcoin tumbles

Nov -21

Source: proactiveinvestors.com

Card image cap

GSK unit sues AnaptysBio in row over Jemperli rights

Nov -21

Source: proactiveinvestors.com

Card image cap

Fighting Cancer With 'Smart Bombs.' What New Treatments Mean For Wall Street.

Nov -20

Source:

Card image cap

JPMorgan Lowers GSK Price Target, Maintains Underweight Rating

Nov -20

Source:

Card image cap

First Look at Roche/Genentech’s Gazyva Shows Strong Early Enthusiasm in Lupus Nephritis Launch, According to Spherix Global Insights

Nov -19

Source:

Card image cap

Alector Stock Plummets 63% in a Month: Here's What You Need to Know

Nov -18

Source: zacks.com

Card image cap

Renal Anemia Market Research Report 2025-2035, Competitive Analysis of Amgen, Sandoz, Pfizer, GlaxoSmithKline, Akebia Therapeutics, and Astellas Pharma

Nov -18

Source:

Card image cap

[Latest] Global NUT Midline Carcinoma Treatment Market Size/Share Worth USD 93.34 Billion by 2034 at a 15.26% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth Rate, Value, SWOT)

Nov -18

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.60%)

6. Segments

Commercial Operations

Expected Growth: 5.6%

GSK plc's Commercial Operations segment is expected to grow driven by increasing demand for pharmaceutical products, expansion into emerging markets, and a strong pipeline of new products.

7. Detailed Products

Advair

A medication used to treat asthma and chronic obstructive pulmonary disease (COPD)

HIV Medicines

A range of medications used to treat HIV infection

Sensodyne

A range of toothpastes and mouthwashes designed to relieve sensitivity

Panadol

A range of pain relief medications

Nicorette

A range of nicotine replacement therapy (NRT) products

Horlicks

A range of malted milk drinks

Theraflu

A range of over-the-counter medications used to treat cold and flu symptoms

Vaccines

A range of vaccines used to prevent infectious diseases

8. GSK plc's Porter Forces

Forces Ranking

Threat Of Substitutes

GSK plc has a moderate threat of substitutes due to the presence of alternative treatments and products in the pharmaceutical industry.

Bargaining Power Of Customers

GSK plc has a low bargaining power of customers due to the fragmented nature of the pharmaceutical market and the lack of concentration among buyers.

Bargaining Power Of Suppliers

GSK plc has a moderate bargaining power of suppliers due to the presence of multiple suppliers in the pharmaceutical industry, but also due to the high switching costs associated with changing suppliers.

Threat Of New Entrants

GSK plc has a low threat of new entrants due to the high barriers to entry in the pharmaceutical industry, including high research and development costs and stringent regulatory requirements.

Intensity Of Rivalry

GSK plc operates in a highly competitive pharmaceutical industry, with intense rivalry among established players, which drives innovation and pricing pressures.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 55.97%
Debt Cost 4.91%
Equity Weight 44.03%
Equity Cost 5.30%
WACC 5.08%
Leverage 127.12%

11. Quality Control: GSK plc passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Novartis

A-Score: 6.3/10

Value: 3.5

Growth: 4.2

Quality: 7.8

Yield: 7.5

Momentum: 5.5

Volatility: 9.3

1-Year Total Return ->

View Full Report
Stock-Card
GSK

A-Score: 5.7/10

Value: 3.9

Growth: 2.2

Quality: 6.5

Yield: 6.9

Momentum: 7.5

Volatility: 7.3

1-Year Total Return ->

View Full Report
Stock-Card
Sanofi

A-Score: 5.7/10

Value: 5.7

Growth: 4.0

Quality: 8.0

Yield: 7.5

Momentum: 1.5

Volatility: 7.3

1-Year Total Return ->

View Full Report
Stock-Card
AstraZeneca

A-Score: 5.5/10

Value: 2.0

Growth: 7.6

Quality: 6.9

Yield: 3.1

Momentum: 6.5

Volatility: 7.0

1-Year Total Return ->

View Full Report
Stock-Card
Roche

A-Score: 5.3/10

Value: 2.0

Growth: 3.0

Quality: 6.4

Yield: 6.2

Momentum: 6.0

Volatility: 8.0

1-Year Total Return ->

View Full Report
Stock-Card
Bayer

A-Score: 4.5/10

Value: 8.1

Growth: 2.1

Quality: 2.5

Yield: 3.8

Momentum: 6.5

Volatility: 4.3

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

18.05$

Current Price

18.05$

Potential

-0.00%

Expected Cash-Flows