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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.

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1.b. Last Insights on GILD

Gilead Sciences' recent performance was driven by strong Q2 earnings and sales, beating estimates and raising 2025 guidance. The company's HIV franchise, led by Biktarvy and Descovy, continues to drive revenue growth, offsetting pricing pressures and cell therapy headwinds. Additionally, the FDA nod for twice-yearly HIV drug Yeztugo boosts its growth outlook.

1.c. Company Highlights

2. Gilead Sciences' Strong Q3 2025 Earnings: A Closer Look

Gilead Sciences reported a robust third quarter in 2025, with total product sales reaching $7.3 billion, representing a 4% sequential increase and a 2% year-over-year decline. The company's non-GAAP EPS was $2.47, beating estimates of $2.13 and marking a 22% year-over-year growth. The HIV franchise continued to drive growth, with sales of $5.3 billion, up 4% versus the prior year and quarter. The company's liver portfolio also saw a 12% year-over-year growth, fueled by a 35% sequential increase for Livdelzi, which exceeded $100 million in quarterly sales.

Publication Date: Nov -03

📋 Highlights
  • HIV Portfolio Growth:: Biktarvy grew 6% YoY to $5.3B in HIV sales, while Descovy surged 20% YoY, contributing to 4% QoQ and 4% YoY HIV sales growth.
  • Yeztugo Launch Success:: New HIV prevention drug achieved $39M in Q3 sales with 75% coverage, 3 months ahead of target, and aims for 90% access by year-end.
  • Liver Portfolio Expansion:: 12% YoY growth driven by Livdelzi’s $100M+ quarterly sales, with 35% sequential growth amid strong demand.
  • Financial Performance:: Non-GAAP EPS rose 22% YoY to $2.47, and full-year guidance raised to $8.05–8.25/share, despite $900M Medicare Part D headwinds.
  • Future Pipeline Momentum:: $1.4B shareholder returns in Q3, plus $400M one-time royalty boost; 2026 launches include Anito-cel (cell therapy) and HDV-targeting Hepcludex.

HIV Franchise Performance

The HIV franchise was a key contributor to Gilead's success, with Biktarvy growing 6% year-over-year and Descovy increasing by 20%. The company's newest HIV prevention product, Yeztugo, delivered $39 million in sales, achieving 75% coverage nearly three months ahead of target. Yeztugo's launch has been strong, with a buy-and-bill and white bagging mix weighted towards white bagging, and most plans have added it to their formulary with zero co-pays and minimal restrictions.

Liver Portfolio and Pipeline Progress

Gilead's liver portfolio grew 12% year-over-year, driven by the success of Livdelzi. The company also made significant clinical progress, presenting detailed data from the ASCENT-03 study at ESMO and submitting sBLAs with the FDA for Trodelvy in first-line metastatic triple-negative breast cancer. The pipeline includes several next-generation HIV treatments, with a potential product launch in early 2027.

Valuation and Outlook

With a P/E Ratio of 18.36 and an EV/EBITDA of 10.94, Gilead's valuation appears reasonable. The company's ROE is 40.74%, and ROIC is 22.46%, indicating strong profitability. Analysts estimate next year's revenue growth at 3.2%. Gilead raised its product sales guidance to $27.4-27.7 billion, driven by HIV growth, and expects total product sales of $28.4-28.7 billion. The company's strong performance and growth prospects make it an attractive investment opportunity.

Future Growth Prospects

Gilead is preparing for potential launches across its therapeutic areas of focus in 2026 and is excited about the opportunity to extend its reach and impact on patients and communities. The company is advancing its pipeline, including KITE-753 and KITE-363, and expects to share Phase I data at an upcoming medical congress. With a strong track record of execution and a robust pipeline, Gilead is well-positioned for continued growth and success.

3. NewsRoom

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Groupe la Francaise Has $3.92 Million Stake in Gilead Sciences, Inc. $GILD

Dec -04

Source: defenseworld.net

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Gilead Sciences, Inc. (GILD) Presents at Evercore 8th Annual Healthcare Conference Transcript

Dec -03

Source: seekingalpha.com

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Gilead Sciences, Inc. (GILD) Presents at Citi Annual Global Healthcare Conference 2025 Transcript

Dec -03

Source: seekingalpha.com

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Capital Counsel LLC NY Buys 1,058 Shares of Gilead Sciences, Inc. $GILD

Dec -01

Source: defenseworld.net

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BLI Banque de Luxembourg Investments Reduces Holdings in Gilead Sciences, Inc. $GILD

Dec -01

Source: defenseworld.net

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Aspire Growth Partners LLC Takes $212,000 Position in Gilead Sciences, Inc. $GILD

Nov -29

Source: defenseworld.net

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Bristol Myers vs Gilead Sciences: Which Biotech Stock Is a Better Bet Now?

Nov -28

Source: zacks.com

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Gilead Sciences: About To Break Out

Nov -25

Source: seekingalpha.com

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
Gilead Sciences

A-Score: 6.5/10

Value: 3.3

Growth: 3.0

Quality: 8.6

Yield: 7.0

Momentum: 9.0

Volatility: 8.3

1-Year Total Return ->

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Stock-Card
J&J

A-Score: 6.4/10

Value: 3.0

Growth: 4.0

Quality: 7.7

Yield: 6.0

Momentum: 8.0

Volatility: 10.0

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Stock-Card
Merck

A-Score: 5.9/10

Value: 4.8

Growth: 6.2

Quality: 7.8

Yield: 7.0

Momentum: 1.5

Volatility: 8.3

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Stock-Card
Bristol-Myers Squibb

A-Score: 5.6/10

Value: 5.0

Growth: 3.9

Quality: 6.4

Yield: 8.0

Momentum: 2.0

Volatility: 8.3

1-Year Total Return ->

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Stock-Card
Amgen

A-Score: 5.4/10

Value: 2.9

Growth: 5.2

Quality: 6.8

Yield: 6.0

Momentum: 3.0

Volatility: 8.3

1-Year Total Return ->

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Stock-Card
Lilly

A-Score: 4.4/10

Value: 2.0

Growth: 7.2

Quality: 6.9

Yield: 2.0

Momentum: 2.5

Volatility: 5.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

121.22$

Current Price

121.22$

Potential

-0.00%

Expected Cash-Flows