Stock Analysis on Net
Stock Analysis on Net

Gilead Sciences Inc. (NASDAQ:GILD)

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Gilead Sciences Inc., adjusted financial ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Activity Ratio
Total Asset Turnover
Reported 0.48 0.43 0.43 0.40 0.36
Adjusted 0.50 0.44 0.44 0.41 0.36
Liquidity Ratio
Current Ratio
Reported 1.60 1.43 1.29 1.27 1.40
Adjusted 1.60 1.43 1.29 1.28 1.41
Solvency Ratios
Debt to Equity
Reported 1.38 1.09 1.19 1.27 1.73
Adjusted 1.55 1.11 1.14 1.13 1.54
Debt to Capital
Reported 0.58 0.52 0.54 0.56 0.63
Adjusted 0.61 0.53 0.53 0.53 0.61
Financial Leverage
Reported 3.05 2.72 2.97 3.23 3.76
Adjusted 3.21 2.63 2.73 2.76 3.22
Profitability Ratios
Net Profit Margin
Reported 1.68% 21.03% 17.02% 23.05% 0.51%
Adjusted -4.41% 17.25% 10.89% 23.09% -1.13%
Return on Equity (ROE)
Reported 2.48% 24.81% 21.62% 29.55% 0.68%
Adjusted -7.15% 20.02% 12.95% 25.84% -1.32%
Return on Assets (ROA)
Reported 0.81% 9.12% 7.27% 9.16% 0.18%
Adjusted -2.23% 7.62% 4.74% 9.35% -0.41%

Based on: 10-K (reporting date: 2024-12-31), 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).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Gilead Sciences Inc. adjusted total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Gilead Sciences Inc. adjusted current ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Gilead Sciences Inc. adjusted debt-to-equity ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Gilead Sciences Inc. adjusted debt-to-capital ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Gilead Sciences Inc. adjusted financial leverage ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Gilead Sciences Inc. adjusted net profit margin ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Gilead Sciences Inc. adjusted ROE improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Gilead Sciences Inc. adjusted ROA improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Gilead Sciences Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Product sales 28,610 26,934 26,982 27,008 24,355
Total assets 58,995 62,125 63,171 67,952 68,407
Activity Ratio
Total asset turnover1 0.48 0.43 0.43 0.40 0.36
Adjusted
Selected Financial Data (US$ in millions)
Product sales 28,610 26,934 26,982 27,008 24,355
Adjusted total assets2 56,669 60,985 61,985 66,660 67,149
Activity Ratio
Adjusted total asset turnover3 0.50 0.44 0.44 0.41 0.36

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Total asset turnover = Product sales ÷ Total assets
= 28,610 ÷ 58,995 = 0.48

2 Adjusted total assets. See details »

3 2024 Calculation
Adjusted total asset turnover = Product sales ÷ Adjusted total assets
= 28,610 ÷ 56,669 = 0.50

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Gilead Sciences Inc. adjusted total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Current assets 19,173 16,085 14,443 14,772 15,996
Current liabilities 12,004 11,280 11,237 11,610 11,397
Liquidity Ratio
Current ratio1 1.60 1.43 1.29 1.27 1.40
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 19,225 16,141 14,498 14,819 16,040
Current liabilities 12,004 11,280 11,237 11,610 11,397
Liquidity Ratio
Adjusted current ratio3 1.60 1.43 1.29 1.28 1.41

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 19,173 ÷ 12,004 = 1.60

2 Adjusted current assets. See details »

3 2024 Calculation
Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= 19,225 ÷ 12,004 = 1.60

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Gilead Sciences Inc. adjusted current ratio improved from 2022 to 2023 and from 2023 to 2024.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Total debt 26,711 24,987 25,230 26,695 31,402
Total Gilead stockholders’ equity 19,330 22,833 21,240 21,069 18,202
Solvency Ratio
Debt to equity1 1.38 1.09 1.19 1.27 1.73
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 27,322 25,658 25,808 27,285 32,117
Adjusted total stockholders’ equity3 17,644 23,197 22,696 24,128 20,877
Solvency Ratio
Adjusted debt to equity4 1.55 1.11 1.14 1.13 1.54

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to equity = Total debt ÷ Total Gilead stockholders’ equity
= 26,711 ÷ 19,330 = 1.38

2 Adjusted total debt. See details »

3 Adjusted total stockholders’ equity. See details »

4 2024 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total stockholders’ equity
= 27,322 ÷ 17,644 = 1.55

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Gilead Sciences Inc. adjusted debt-to-equity ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Total debt 26,711 24,987 25,230 26,695 31,402
Total capital 46,041 47,820 46,470 47,764 49,604
Solvency Ratio
Debt to capital1 0.58 0.52 0.54 0.56 0.63
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 27,322 25,658 25,808 27,285 32,117
Adjusted total capital3 44,966 48,855 48,504 51,413 52,994
Solvency Ratio
Adjusted debt to capital4 0.61 0.53 0.53 0.53 0.61

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 26,711 ÷ 46,041 = 0.58

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2024 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 27,322 ÷ 44,966 = 0.61

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Gilead Sciences Inc. adjusted debt-to-capital ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Total assets 58,995 62,125 63,171 67,952 68,407
Total Gilead stockholders’ equity 19,330 22,833 21,240 21,069 18,202
Solvency Ratio
Financial leverage1 3.05 2.72 2.97 3.23 3.76
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 56,669 60,985 61,985 66,660 67,149
Adjusted total stockholders’ equity3 17,644 23,197 22,696 24,128 20,877
Solvency Ratio
Adjusted financial leverage4 3.21 2.63 2.73 2.76 3.22

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Financial leverage = Total assets ÷ Total Gilead stockholders’ equity
= 58,995 ÷ 19,330 = 3.05

2 Adjusted total assets. See details »

3 Adjusted total stockholders’ equity. See details »

4 2024 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total stockholders’ equity
= 56,669 ÷ 17,644 = 3.21

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Gilead Sciences Inc. adjusted financial leverage ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Gilead 480 5,665 4,592 6,225 123
Product sales 28,610 26,934 26,982 27,008 24,355
Profitability Ratio
Net profit margin1 1.68% 21.03% 17.02% 23.05% 0.51%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 (1,262) 4,645 2,938 6,235 (275)
Product sales 28,610 26,934 26,982 27,008 24,355
Profitability Ratio
Adjusted net profit margin3 -4.41% 17.25% 10.89% 23.09% -1.13%

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Net profit margin = 100 × Net income attributable to Gilead ÷ Product sales
= 100 × 480 ÷ 28,610 = 1.68%

2 Adjusted net income. See details »

3 2024 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Product sales
= 100 × -1,262 ÷ 28,610 = -4.41%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Gilead Sciences Inc. adjusted net profit margin ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Gilead 480 5,665 4,592 6,225 123
Total Gilead stockholders’ equity 19,330 22,833 21,240 21,069 18,202
Profitability Ratio
ROE1 2.48% 24.81% 21.62% 29.55% 0.68%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 (1,262) 4,645 2,938 6,235 (275)
Adjusted total stockholders’ equity3 17,644 23,197 22,696 24,128 20,877
Profitability Ratio
Adjusted ROE4 -7.15% 20.02% 12.95% 25.84% -1.32%

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
ROE = 100 × Net income attributable to Gilead ÷ Total Gilead stockholders’ equity
= 100 × 480 ÷ 19,330 = 2.48%

2 Adjusted net income. See details »

3 Adjusted total stockholders’ equity. See details »

4 2024 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted total stockholders’ equity
= 100 × -1,262 ÷ 17,644 = -7.15%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Gilead Sciences Inc. adjusted ROE improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Gilead 480 5,665 4,592 6,225 123
Total assets 58,995 62,125 63,171 67,952 68,407
Profitability Ratio
ROA1 0.81% 9.12% 7.27% 9.16% 0.18%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 (1,262) 4,645 2,938 6,235 (275)
Adjusted total assets3 56,669 60,985 61,985 66,660 67,149
Profitability Ratio
Adjusted ROA4 -2.23% 7.62% 4.74% 9.35% -0.41%

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
ROA = 100 × Net income attributable to Gilead ÷ Total assets
= 100 × 480 ÷ 58,995 = 0.81%

2 Adjusted net income. See details »

3 Adjusted total assets. See details »

4 2024 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × -1,262 ÷ 56,669 = -2.23%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Gilead Sciences Inc. adjusted ROA improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.