Gilead Sciences (GILD)
NASDAQ:GILD
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Gilead Sciences
(NASDAQ:GILD)
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Rating:65Neutral
Price Target:
$137.00
▼(-0.46% Downside)
Action:DowngradedDate:04/29/26
The score is supported by strong current profitability and consistently robust free cash flow, reinforced by generally constructive guidance and pipeline catalysts from the latest earnings call. These positives are tempered by weak near-term technical momentum (downtrend/negative MACD despite oversold signals) and balance-sheet/leverage plus earnings-volatility concerns, with valuation appearing reasonable but not a standout.
Positive Factors
Free cash flow strength
Gilead's sustained, large free cash flow provides durable internal funding for R&D, bolt‑on deals and shareholder returns. FCF roughly matches net income (FCF/NI ~0.95), supporting buybacks/dividends and cushioning the business through product cycles and one‑time hits.
Negative Factors
Meaningful leverage and reporting inconsistency
Material leverage reduces financial flexibility for large M&A or downturns and increases interest‑rate sensitivity. The TTM balance‑sheet inconsistency erodes confidence in current leverage metrics, complicating assessments of liquidity and covenant headroom over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Free cash flow strength
Gilead's sustained, large free cash flow provides durable internal funding for R&D, bolt‑on deals and shareholder returns. FCF roughly matches net income (FCF/NI ~0.95), supporting buybacks/dividends and cushioning the business through product cycles and one‑time hits.
Read all positive factors
Gilead Sciences (GILD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$159.92B
Dividend Yield2.52%
Average Volume (3M)5.56M
Price to Earnings (P/E)17.9
Beta (1Y)0.34
Revenue Growth2.51%
EPS Growth1682.88%
CountryUS
Employees17,600
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - General
Share Statistics
EPS (TTM)1.86
Shares Outstanding1,241,222,000
10 Day Avg. Volume4,901,076
30 Day Avg. Volume5,557,352
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)6.75
Price to Sales (P/S)5.19
P/FCF Ratio16.15
Enterprise Value/Market Cap1.11
Enterprise Value/Revenue6.01
Enterprise Value/Gross Profit7.44
Enterprise Value/Ebitda13.72
Forecast
1Y Price Target
$159.47Price Target Upside15.86% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering23
EPS Forecast (FY)8.55
Revenue Forecast (FY)$30.22B
Gilead Sciences Business Overview & Revenue Model
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, T...
How the Company Makes Money
Gilead makes money primarily by selling branded prescription medicines and related therapies globally. Its revenue is largely product-based and is driven by (1) HIV medicines, which include single-tablet regimens and combination antiretroviral the...
Gilead Sciences Key Performance Indicators (KPIs)
Any
Revenue by Type
Analyzes income from different sources, highlighting which areas are driving growth and which might be underperforming, crucial for assessing the company's financial health and strategic focus.
Analyzes income from different sources, highlighting which areas are driving growth and which might be underperforming, crucial for assessing the company's financial health and strategic focus.
Data provided by:
The Fly
The FlyGilead Sciences Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call emphasized strong commercial execution (notably in HIV treatment and prevention, liver, and Trodelvy) and a robust, diversified late-stage pipeline with multiple near-term catalysts and disciplined financial management. These positives were balanced against clear near-term headwinds: policy-driven pricing impacts (Part D/Medicaid/ACA), a substantial decline in COVID-related Vecluri revenue, and competitive pressures in cell therapy expected to reduce Kite revenues in 2026. Management reiterated conservative discipline on M&A and continued commitment to shareholder returns. Overall, company achievements, pipeline momentum, and outperformance against guidance materially outweigh the headwinds, which are largely known, quantified, and described as manageable.Positive Updates
Strong HIV Franchise Growth and Market Leadership
HIV business grew 6% year-over-year in 2025 (driven by Biktarvy +7%), with full-year HIV sales of $20.8 billion. Biktarvy full-year sales were $14.3 billion, up 7% YoY and remains >52% share in the U.S. switch/treatment market. Company noted that excluding an estimated ~ $900M Part D headwind, HIV growth would have been ~10% in 2025.
Negative Updates
Cell Therapy Headwinds and Declining Revenue
Kite/cell therapy revenue was $1.8 billion for 2025, down ~7% YoY reflecting in- and out-of-class competition. Management expects Kite revenue to decline ~10% in 2026 driven by continued competitive entrants and increased clinical trial activity siphoning volumes.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong HIV Franchise Growth and Market Leadership
HIV business grew 6% year-over-year in 2025 (driven by Biktarvy +7%), with full-year HIV sales of $20.8 billion. Biktarvy full-year sales were $14.3 billion, up 7% YoY and remains >52% share in the U.S. switch/treatment market. Company noted that excluding an estimated ~ $900M Part D headwind, HIV growth would have been ~10% in 2025.
Read all positive updates
Company Guidance
Gilead guided 2026 total product sales of $29.6–30.0 billion, with Vecluri sales of ~ $600 million and base business sales of $29.0–29.4 billion (4–5% growth vs. 2025). Management expects HIV sales to grow ~6% (noting an approximate 2% drag from the December drug‑pricing agreement and ACA changes — absent those headwinds HIV would be ~8% and company growth would be ~6–7%), YES2GO revenue of roughly $800 million (vs. $150 million in 2025), and Kite/cell therapy revenue to decline ~10% year‑over‑year. Financial assumptions include a product gross margin of ~87%, R&D up low‑single digits, acquired IPR&D of ~ $300 million, SG&A up mid‑single digits, non‑GAAP operating income of $13.8–14.3 billion, a ~20% tax rate, and non‑GAAP diluted EPS of $8.45–8.85; the company reiterated returning at least 50% of free cash flow to shareholders (returned $5.9 billion and ~63% of FCF in 2025).Gilead Sciences Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
52
Neutral
Cash Flow
81
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 29.44B | 28.75B | 27.12B | 27.28B | 27.30B |
| Gross Profit | 25.52B | 22.50B | 20.62B | 21.62B | 20.70B |
| EBITDA | 10.82B | 4.43B | 10.50B | 8.85B | 11.33B |
| Net Income | 8.51B | 480.00M | 5.67B | 4.59B | 6.22B |
Balance Sheet | |||||
| Total Assets | 59.02B | 58.99B | 62.13B | 63.17B | 67.95B |
| Cash, Cash Equivalents and Short-Term Investments | 10.61B | 11.57B | 7.26B | 6.38B | 6.52B |
| Total Debt | 24.59B | 26.71B | 24.99B | 25.23B | 26.70B |
| Total Liabilities | 36.41B | 39.75B | 39.38B | 41.96B | 46.89B |
| Stockholders Equity | 22.62B | 19.33B | 22.83B | 21.24B | 21.07B |
Cash Flow | |||||
| Free Cash Flow | 9.46B | 10.30B | 7.42B | 8.34B | 10.80B |
| Operating Cash Flow | 10.02B | 10.83B | 8.01B | 9.07B | 11.38B |
| Investing Cash Flow | -4.79B | -3.45B | -2.27B | -2.47B | -3.13B |
| Financing Cash Flow | -7.75B | -3.43B | -5.13B | -6.47B | -8.88B |
Gilead Sciences Technical Analysis
Negative
137.64
Price Trends
144.07
Negative
134.81
Positive
124.55
Positive
Market Momentum
-0.85
Negative
42.98
Neutral
29.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GILD, the sentiment is Negative. The current price of 137.64 is below the 20-day moving average (MA) of 138.74, below the 50-day MA of 144.07, and above the 200-day MA of 124.55, indicating a neutral trend. The MACD of -0.85 indicates Negative momentum. The RSI at 42.98 is Neutral, neither overbought nor oversold. The STOCH value of 29.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GILD.
Gilead Sciences Risk Analysis
Gilead Sciences disclosed 22 risk factors in its most recent earnings report. Gilead Sciences reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Gilead Sciences Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $117.58B | 15.61 | 39.27% | 4.11% | -0.22% | ― | |
69 Neutral | $110.06B | 15.55 | 14.41% | 4.58% | 11.19% | -0.23% | |
66 Neutral | $274.03B | 14.46 | 36.19% | 3.12% | 1.49% | 7.89% | |
65 Neutral | $159.92B | 17.94 | 41.01% | 2.52% | 2.51% | 1682.88% | |
62 Neutral | $182.42B | 22.84 | 96.65% | 3.00% | 10.56% | 88.13% | |
61 Neutral | $149.38B | 18.21 | 8.67% | 6.65% | -1.65% | -3.74% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
GILD
Gilead Sciences
128.84
28.27
28.10%
AMGN
Amgen
338.02
62.87
22.85%
BMY
Bristol-Myers Squibb
57.59
10.34
21.89%
MRK
Merck & Company
110.95
30.61
38.10%
PFE
Pfizer
26.26
3.95
17.71%
SNY
Sanofi
46.03
-6.40
-12.21%
Gilead Sciences Corporate Events
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresM&A Transactions
Gilead Sciences Completes Acquisition of Arcellx and Anito-cel
Positive
Apr 28, 2026
On April 28, 2026, Gilead Sciences, Inc. completed its acquisition of Arcellx, Inc., consolidating a collaboration centered on anitocabtagene autoleucel (anito-cel), an investigational BCMA-directed CAR T-cell therapy for multiple myeloma that use...
Business Operations and StrategyM&A Transactions
Gilead Sciences to Acquire Arcellx in Major Cell-Therapy Deal
Positive
Feb 23, 2026
On February 22–23, 2026, Gilead Sciences agreed to acquire Arcellx in a cash‑and‑CVR deal valuing the target at an implied $7.8 billion at closing. A Gilead subsidiary will launch a tender offer at $115 per share plus a $5 contin...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.