Stock Analysis on Net

Gilead Sciences Inc. (NASDAQ:GILD)

Market Value Added (MVA)

Microsoft Excel

MVA

Gilead Sciences Inc., MVA calculation

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Fair value of debt, net1 23,797 22,962 29,900 35,700 27,300
Operating lease liability 671 578 590 715 725
Market value of common equity 91,627 104,133 76,926 78,901 88,581
Preferred stock, par value $0.001 per share; none outstanding
Noncontrolling interest (84) (31) (5) 19 125
Less: Marketable debt securities 2,342 2,218 2,491 1,913 14,209
Market (fair) value of Gilead 113,669 125,424 104,920 113,422 102,522
Less: Invested capital2 45,824 45,565 47,782 50,285 31,435
MVA 67,845 79,859 57,138 63,137 71,087

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Gilead Sciences Inc. market (fair) value less invested capital. Gilead Sciences Inc. MVA increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

MVA Spread Ratio

Gilead Sciences Inc., MVA spread ratio calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Market value added (MVA)1 67,845 79,859 57,138 63,137 71,087
Invested capital2 45,824 45,565 47,782 50,285 31,435
Performance Ratio
MVA spread ratio3 148.05% 175.26% 119.58% 125.56% 226.14%
Benchmarks
MVA Spread Ratio, Competitors4
AbbVie Inc. 438.96% 297.39% 253.64% 172.70% 236.51%
Amgen Inc. 207.91% 308.27% 303.88% 343.98% 341.92%
Bristol-Myers Squibb Co. 100.64% 160.91% 138.81% 109.83% 90.05%
Danaher Corp. 157.62% 156.95% 187.44% 172.97% 135.15%
Eli Lilly & Co. 2,389.96% 1,239.79% 833.40% 778.02% 601.09%
Johnson & Johnson 309.06% 288.03% 366.17% 363.07% 335.85%
Merck & Co. Inc. 412.35% 312.72% 223.02% 292.93% 328.56%
Moderna Inc. 426.77% 461.14% 378.45% 1,322.35% 1,719.94%
Pfizer Inc. 40.45% 124.43% 210.66% 116.68% 95.96%
Regeneron Pharmaceuticals Inc. 663.41% 521.52% 461.61% 508.24% 460.29%
Thermo Fisher Scientific Inc. 189.49% 195.28% 211.22% 232.26% 171.11%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 MVA. See details »

2 Invested capital. See details »

3 2023 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 67,845 ÷ 45,824 = 148.05%

4 Click competitor name to see calculations.

Performance ratio Description The company
MVA spread ratio The ratio of MVA to invested capital. It measures the efficiency with which investors’ capital investment has translated into a franchise value and into an aggregate net present value premium. Gilead Sciences Inc. MVA spread ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

MVA Margin

Gilead Sciences Inc., MVA margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Market value added (MVA)1 67,845 79,859 57,138 63,137 71,087
Product sales 26,934 26,982 27,008 24,355 22,119
Performance Ratio
MVA margin2 251.89% 295.97% 211.56% 259.24% 321.38%
Benchmarks
MVA Margin, Competitors3
AbbVie Inc. 551.18% 420.74% 432.93% 391.08% 446.12%
Amgen Inc. 540.65% 493.74% 503.37% 550.26% 575.79%
Bristol-Myers Squibb Co. 151.08% 250.01% 240.26% 232.86% 345.41%
Danaher Corp. 517.54% 389.99% 468.46% 507.10% 438.18%
Eli Lilly & Co. 2,058.21% 1,055.66% 769.29% 778.57% 578.77%
Johnson & Johnson 359.73% 345.62% 383.46% 432.99% 396.88%
Merck & Co. Inc. 479.92% 390.05% 323.90% 349.01% 376.50%
Moderna Inc. 487.11% 230.15% 197.41% 1,368.57%
Pfizer Inc. 107.10% 137.35% 227.20% 289.28% 224.34%
Regeneron Pharmaceuticals Inc. 605.08% 525.04% 312.14% 495.20% 382.11%
Thermo Fisher Scientific Inc. 378.46% 360.17% 431.35% 441.03% 352.63%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 MVA. See details »

2 2023 Calculation
MVA margin = 100 × MVA ÷ Product sales
= 100 × 67,845 ÷ 26,934 = 251.89%

3 Click competitor name to see calculations.

Performance ratio Description The company
MVA margin The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value. Gilead Sciences Inc. MVA margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.