Gilead Sciences, Inc.
Financial Performance
Gilead Sciences Revenue & Financials
Revenue
$29.4B (FY2025)
Market Cap
$180B
Net Income
$8.5B
Employees
17,000
What is Gilead Sciences's revenue?
Gilead Sciences had $29.4B in revenue for fiscal year 2025, up 2.4% from 2024. Net income was $8.5B.
- Latest revenue
- $29.4B (FY2025)
- Year-over-year
- +2.4%
- Growth rate (CAGR)
- -0.4% over 9 years
- Peak revenue
- $30.4B (FY2016)
- Years of data
- 10
- Employees
- 17,000
- What is Gilead Sciences's operating income?
- Gilead Sciences reported operating income of $10B for fiscal year 2025. sec.gov
- How much profit does Gilead Sciences make?
- Gilead Sciences reported net income of $8.5B for fiscal year 2025. sec.gov
- How many employees does Gilead Sciences have?
- Gilead Sciences has about 17,000 employees.
Financial Analysis
Gilead's revenue history tracks its product cycles. Hepatitis C cures Sovaldi and Harvoni lifted revenue to $30.4B in 2016, then sales fell as patients were cured, bottoming at $22.1B in 2018. HIV growth and pandemic Veklury sales took revenue back to $27.3B in 2021, and it has since grown slowly to $28.8B in 2024 and $29.4B in 2025. Net income swings with deal accounting: it was only $480M in 2024 because of the CymaBay IPR&D charge, then recovered to $8.5B ($6.78 diluted EPS) in 2025. In Q2 2026 revenue rose 10% to $7.8B, but more than $11B of acquired IPR&D, mainly from Arcellx, produced a GAAP loss of $8.45 per share. February 2026 guidance called for $29.6B to $30.0B in 2026 product sales. Gilead Sciences, Inc. is a massive American biopharmaceutical company, commanding a market valuation typically over $80 billion.
Revenue Trend Analysis
YoY Change
+2.4%
9-Year CAGR
-0.4%
Peak Year
2016
Trend
Mostly Growing
Gilead Sciences, Inc. has 10 full fiscal year figures on this page, compounding at -0.4% annually over 9 years. The most recent year saw a 2.4% increase versus the prior year. Annual revenue peaked in fiscal year 2016 at $30.4B. Of 9 comparable year-over-year steps, 5 showed growth and 4 showed a decline.
Annual revenue history
Click any row to see year details.
Gilead Sciences, Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $10B | $563M | $59B | $22.7B | $9.5B | Form 10-K |
| FY2024ended Dec 31, 2024 | $10.8B | $523M | $59B | $19.3B | $10.3B | Form 10-K |
| FY2023ended Dec 31, 2023 | $8B | $585M | $62.1B | $22.8B | $7.4B | Form 10-K |
| FY2022ended Dec 31, 2022 | $9.1B | $728M | $63.2B | $21.2B | $8.3B | Form 10-K |
| FY2021ended Dec 31, 2021 | $11.4B | $579M | $68B | $21.1B | $10.8B | Form 10-K |
| FY2020ended Dec 31, 2020 | $8.2B | $650M | $68.4B | $18.2B | $7.5B | Form 10-K |
| FY2019ended Dec 31, 2019 | $9.1B | $825M | $61.6B | $22.5B | $8.3B | Form 10-K |
| FY2018ended Dec 31, 2018 | $8.4B | $924M | $63.7B | $21.4B | $7.5B | Form 10-K |
| FY2017ended Dec 31, 2017 | $11.9B | — | $70.3B | $20.4B | — | Form 10-K |
| FY2016ended Dec 31, 2016 | $17B | — | $57B | $18.9B | — | Form 10-K |
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Gilead Sciences Revenue and Financial FAQ
What is the typical annual revenue and operating cash flow scale of Gilead Sciences?
Gilead Sciences, Inc. reported revenue of $29.4 billion for fiscal year 2025, up from $28.8 billion in fiscal 2024.
How does Biktarvy contribute to Gilead's consolidated product sales?
Biktarvy is Gilead's single largest commercial medicine and the world's bestselling HIV treatment, generating over $11 billion to $12 billion in annual net sales and capturing more than 45% to 50% market share of treated HIV patients in the United States.
What is Gilead's capital allocation strategy regarding dividends, share buybacks, and M&A?
Gilead balances capital allocation by maintaining a growing, high-yield quarterly cash dividend, executing opportunistic share repurchases, maintaining investment-grade debt ratings, and funding strategic external licensing deals and bolt-on oncology acquisitions.
How does Gilead manage its long-term debt obligations and balance sheet liquidity?
Gilead holds approximately $6 billion to $9 billion in cash, cash equivalents, and marketable securities, managing an investment-grade debt structure with staggered bond maturities that ensures ample liquidity to fund multi-year clinical trials and commercial product launches.
How do patent expirations (loss of exclusivity) impact Gilead's historical financial performance?
When older blockbuster drugs (such as Viread, Truvada, and Atripla) lose patent exclusivity, generic entry causes sharp revenue declines for those specific molecules. Gilead mitigates this by launching next-generation therapies before patent cliffs occur.
What was the financial trajectory of Gilead's Hepatitis C (HCV) franchise (Sovaldi and Harvoni)?
Sovaldi and Harvoni generated historic peak sales exceeding $19 billion in 2015 as hundreds of thousands of patients were cured of Hepatitis C. Because the therapies curative, the addressable patient pool naturally declined, stabilizing HCV sales into a steady, predictable cash-generating franchise.
What are Gilead's primary non-cash accounting charges related to biopharma acquisitions?
Acquisitions of biotech pipelines frequently result in acquired in-process research and development (IPR&D) impairment charges or amortization of intangible assets if clinical trial candidates fail to meet primary endpoints or encounter regulatory delays.
How does Veklury (remdesivir) revenue fluctuate with global COVID-19 hospitalization rates?
Veklury revenue is variable and hospital-demand driven, generating surges in sales during severe global COVID-19 infection waves and tapering during periods of lower hospitalizations, functioning as a counter-cyclical healthcare revenue stream.
Why did Gilead stock crash after 2015?
Gilead suffered from "the curse of the cure." In 2014, they launched Sovaldi, a drug that literally cured Hepatitis C (priced controversially at $1,000 a pill). They made massive, unprecedented billions instantly. But because the drug actually cured the patients, the patient pool disappeared, causing their massive revenue to rapidly collapse in subsequent years.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Gilead Sciences Revenue & Financials." CorpDigest, https://corpdigest.com/company/gilead-sciences/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Gilead Sciences reported $29.4B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/gilead-sciences/financials" target="_blank" rel="noopener">CorpDigest — Gilead Sciences financials</a></div>Related Financial Audits
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