Download PDF

1. Company Snapshot

1.a. Company Description

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, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.It also offers Yescarta, Tecartus, Trodelvy, and Zydelig products for the treatment of hematology, oncology, and cell therapy patients.


In addition, the company provides Letairis, an oral formulation for the treatment of pulmonary arterial hypertension; Ranexa, an oral formulation for the treatment of chronic angina; and AmBisome, a liposomal formulation for the treatment of serious invasive fungal infections.Gilead Sciences, Inc.has collaboration agreements with Arcus Biosciences, Inc.; Pionyr Immunotherapeutics Inc.; Tizona Therapeutics, Inc.; Tango Therapeutics, Inc.; Jounce Therapeutics, Inc.; Galapagos NV; Janssen Sciences Ireland Unlimited Company; Japan Tobacco, Inc.; Gadeta B.V.; Bristol-Myers Squibb Company; Dragonfly Therapeutics, Inc.; and Merck & Co, Inc.


The company was incorporated in 1987 and is headquartered in Foster City, California.

Show Full description

1.b. Last Insights on GILD

Gilead Sciences' recent performance was driven by strong Q4 results, with quarterly earnings of $1.86 per share beating estimates. HIV drugs Biktarvy and Descovy continue to drive growth, while new launch Yeztugo shows promise. A top- and bottom-line win for Q4 led to increased forecasts from analysts. The company's HIV portfolio, protected by exclusivity through 2036, provides stability. Strategic M&A, such as CymaBay, and a new CMO with oncology expertise may improve pipeline quality. Institutional investors, including Ameriprise Financial and E. Ohman J or Asset Management AB, have increased their stakes.

1.c. Company Highlights

2. Gilead Sciences' Strong FY2025 Results Driven by HIV Sales Growth

Gilead Sciences reported robust financial performance for FY2025, with total product sales reaching $28.9 billion, up 1% from 2024. The growth was primarily driven by HIV sales, which increased 6% year-over-year to $20.8 billion. The company's base business revenue grew 4% to $28 billion, excluding the impact of the Part D redesign. The actual EPS came out at $1.86, beating estimates of $1.81. The company's product gross margin is expected to be approximately 87% in 2026.

Publication Date: Feb -11

📋 Highlights
  • HIV Sales Growth:: HIV business grew 6% YoY to $20.8B in 2025, with 10% growth excluding $900M Part D redesign headwind.
  • Total Product Sales:: Full-year 2025 sales hit $28B, surpassing guidance by over $300M, with Q4 sales up 7% YoY to $7.9B.
  • YES2GO Momentum:: Twice-yearly HIV prevention injectable exceeded coverage goals, driving 47% Q4 growth in HIV prevention portfolio.
  • Trodelvy Expansion:: Sales reached $1.4B in 2025, with potential for first-line metastatic TNBC approval in 2026 and expansion into endometrial cancer.
  • 2026 Guidance:: Total product sales projected at $29.6–$30B, with non-GAAP EPS of $8.45–$8.85 and 4–5% base business growth.

Segment Performance

The HIV business delivered record sales of $5.8 billion for the fourth quarter, up 6% year-over-year, driven by higher demand for Biktarvy and Descovy as well as the launch of YES2GO, the twice-yearly HIV prevention injectable. For the full year, HIV sales were $20.8 billion, up 6% year-over-year. YES2GO has exceeded coverage goals and is rapidly gaining market share, with 90% access in less than six months.

Pipeline Updates

The company has made significant progress in its pipeline, with regulatory approvals for lenacapavir, a first-in-class capsid inhibitor, for HIV prevention in the US, EU, and 12 other countries. Trodelvy has demonstrated clinically meaningful survival benefit in two Phase III trials, establishing it as a leading regimen in its approved indications. Anidocel, a potential best-in-disease BCMA CAR T, is expected to launch in 2026.

Valuation

With a P/E Ratio of 21.49 and an EV/EBITDA of 14.56, the market is pricing in a certain level of growth for Gilead Sciences. Analysts estimate next year's revenue growth at 5.3%. The company's ROE is 56.38%, indicating strong profitability. The Dividend Yield is 2.15%, providing a relatively stable return for investors.

Outlook

Gilead Sciences expects strong growth momentum in 2026, driven by access, awareness, and market expansion strategies for YES2GO. The company is also expecting five Phase III readouts and five FDA decisions in 2026. With a robust internal portfolio and a focus on M&A, Gilead Sciences is well-positioned for continued growth.

3. NewsRoom

Card image cap

Confluence Investment Management LLC Trims Stock Position in Gilead Sciences, Inc. $GILD

10:06

Source: defenseworld.net

Card image cap

5 Stocks to Buy in a High-Risk Bull Market

Mar -19

Source: youtube.com

Card image cap

Gilead Sciences (GILD) Falls More Steeply Than Broader Market: What Investors Need to Know

Mar -18

Source: zacks.com

Card image cap

TrumpRx lists many medicines at prices higher than paid in UK

Mar -18

Source: reuters.com

Card image cap

Gilead Sciences, Inc. $GILD Shares Purchased by Achmea Investment Management B.V.

Mar -18

Source: defenseworld.net

Card image cap

Bank of Nova Scotia Sells 319,843 Shares of Gilead Sciences, Inc. $GILD

Mar -17

Source: defenseworld.net

Card image cap

Bamco Inc. NY Purchases 5,500 Shares of Gilead Sciences, Inc. $GILD

Mar -17

Source: defenseworld.net

Card image cap

Alliancebernstein L.P. Sells 258,213 Shares of Gilead Sciences, Inc. $GILD

Mar -15

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.40%)

6. Segments

Discovery, Development and Commercialization of Innovative Medicines

Expected Growth: 7.4%

Gilead Sciences develops innovative medicines for life-threatening diseases, driving growth through its HIV and oncology franchises, and expanding into new markets such as hepatitis and inflammation.

7. Detailed Products

HIV Products

Gilead Sciences, Inc. offers a range of HIV products, including Biktarvy, Descovy, Genvoya, Odefsey, Stribild, and Truvada, which are used to treat HIV infection.

Hepatitis B & C Products

Gilead Sciences, Inc. offers products such as Vemlidy, Viread, and Harvoni, which are used to treat chronic hepatitis B and C.

Cell Therapy

Gilead Sciences, Inc. offers Yescarta, a chimeric antigen receptor T cell (CAR-T) therapy, which is used to treat certain types of non-Hodgkin lymphoma.

Inflammation Products

Gilead Sciences, Inc. offers filgotinib, a JAK inhibitor, which is used to treat moderate to severe rheumatoid arthritis.

Oncology Products

Gilead Sciences, Inc. offers Zydelig, a PI3K delta inhibitor, which is used to treat certain types of blood cancers.

8. Gilead Sciences, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Gilead Sciences, Inc. has a moderate threat of substitutes due to the presence of alternative treatments and therapies for diseases such as HIV, hepatitis, and cancer. However, the company's strong brand recognition and patented products mitigate this threat to some extent.

Bargaining Power Of Customers

Gilead Sciences, Inc. has a low bargaining power of customers due to the lack of negotiating power of individual patients and the complexity of the pharmaceutical supply chain. The company's products are often reimbursed by payers, reducing the bargaining power of customers.

Bargaining Power Of Suppliers

Gilead Sciences, Inc. has a low bargaining power of suppliers due to the company's significant scale and global presence. The company has a diversified supplier base, which reduces its dependence on individual suppliers.

Threat Of New Entrants

Gilead Sciences, Inc. has a low threat of new entrants due to the high barriers to entry in the pharmaceutical industry, including significant R&D investments, regulatory hurdles, and patent protections.

Intensity Of Rivalry

Gilead Sciences, Inc. operates in a highly competitive pharmaceutical industry, with intense rivalry among established players. The company faces competition from other major pharmaceutical companies, as well as emerging biotech firms.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 52.34%
Debt Cost 4.62%
Equity Weight 47.66%
Equity Cost 5.12%
WACC 4.86%
Leverage 109.84%

11. Quality Control: Gilead Sciences, Inc. 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
J&J

A-Score: 6.9/10

Value: 3.1

Growth: 4.0

Quality: 8.8

Yield: 6.0

Momentum: 9.5

Volatility: 10.0

1-Year Total Return ->

View Full Report
Stock-Card
Gilead Sciences

A-Score: 6.8/10

Value: 3.3

Growth: 3.0

Quality: 9.3

Yield: 7.0

Momentum: 9.5

Volatility: 8.3

1-Year Total Return ->

View Full Report
Stock-Card
Amgen

A-Score: 6.3/10

Value: 2.9

Growth: 5.0

Quality: 6.8

Yield: 6.0

Momentum: 9.0

Volatility: 8.3

1-Year Total Return ->

View Full Report
Stock-Card
Merck

A-Score: 6.2/10

Value: 4.6

Growth: 6.2

Quality: 8.2

Yield: 6.0

Momentum: 4.5

Volatility: 8.0

1-Year Total Return ->

View Full Report
Stock-Card
Bristol-Myers Squibb

A-Score: 5.5/10

Value: 5.0

Growth: 3.9

Quality: 6.5

Yield: 8.0

Momentum: 1.5

Volatility: 8.0

1-Year Total Return ->

View Full Report
Stock-Card
Lilly

A-Score: 5.3/10

Value: 0.0

Growth: 7.1

Quality: 7.5

Yield: 2.0

Momentum: 9.5

Volatility: 5.7

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

137.21$

Current Price

137.21$

Potential

-0.00%

Expected Cash-Flows