GILD FY 2023 Earnings Report — Gilead Sciences, Inc. Revenue & Financial Results | Market Cap Arena

Gilead Sciences, Inc.GILD

FY 2023 Earnings

Reported February 23, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$27.1B	—	$27.3B	—	-0.6%
Op. Income	$7.6B	—	$7.3B	—	3.8%
Gross Margin	76.0%	—	79.3%	—	-3.2pp
Net Margin	20.9%	—	16.8%	—	4.1pp
EPS (Diluted)	$4.50	—	$3.64	—	23.6%
Free Cash Flow	$7.4B	—	$8.3B	—	-11.1%

Revenue Flow

Item	Amount
REVENUE	$27.1B
Cost of Revenue	$6.5B
GROSS PROFIT	$20.6B
R&D Expenses	$5.7B
Selling & Marketing	$3.3B
General & Administrative	$2.8B
SG&A Expenses	$6.1B
Other Expenses	$1.2B
Operating Expenses	$13.0B
Cost & Expenses	$19.5B
OPERATING INCOME	$7.6B
Interest Income	$376M
Interest Expense	$944M
Other Income/Expenses	-$746M
INCOME BEFORE TAX	$6.9B
Income Tax Expense	$1.2B
Net Income from Continuing Ops	$5.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$1M
NET INCOME	$5.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.7B
D&A	$2.7B
EBIT	$7.8B
EBITDA	$10.5B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$27.1B
Cost of Revenue	$6.5B
GROSS PROFIT	$20.6B
R&D Expenses	$5.7B
Selling & Marketing	$3.3B
General & Administrative	$2.8B
SG&A Expenses	$6.1B
Other Expenses	$1.2B
Operating Expenses	$13.0B
Cost & Expenses	$19.5B
OPERATING INCOME	$7.6B
Interest Income	$376M
Interest Expense	$944M
Other Income/Expenses	-$746M
INCOME BEFORE TAX	$6.9B
Income Tax Expense	$1.2B
Net Income from Continuing Ops	$5.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$1M
NET INCOME	$5.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.7B
D&A	$2.7B
EBIT	$7.8B
EBITDA	$10.5B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$5.7B
Depreciation & Amortization	$2.7B
Stock-Based Compensation	$766M
Deferred Income Tax	-$962M
Other Non-Cash Items	$2.1B
Change in Working Capital	-$2.3B
OPERATING CASH FLOW	$8.0B
Capital Expenditure	-$585M
Acquisitions (Net)	-$1.2B
Purchases of Investments	-$2.4B
Sales/Maturities of Investments	$1.8B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$2.3B
Net Debt Issuance	-$270M
Common Stock Repurchased	-$1.0B
Common Dividends Paid	-$3.8B
Other Financing Activities	-$278M
NET CASH FROM FINANCING	-$5.1B
FREE CASH FLOW	$7.4B
Net Change in Cash	$673M

Balance Sheet

Item	Amount
Cash & Equivalents	$6.1B
Short-Term Investments	$1.2B
Net Receivables	$4.7B
Inventory	$1.8B
Other Current Assets	$2.4B
TOTAL CURRENT ASSETS	$16.1B
PP&E (Net)	$5.3B
Goodwill	$8.3B
Intangible Assets	$26.5B
Long-Term Investments	$1.2B
Tax Assets	$0
Other Non-Current Assets	$4.8B
TOTAL NON-CURRENT ASSETS	$46.0B
TOTAL ASSETS	$62.1B
Account Payables	$550M
Short-Term Debt	$1.8B
Deferred Revenue	$0
Other Current Liabilities	$3.9B
TOTAL CURRENT LIABILITIES	$11.3B
Long-Term Debt	$23.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.6B
Other Non-Current Liabilities	$3.3B
TOTAL NON-CURRENT LIABILITIES	$28.1B
TOTAL LIABILITIES	$39.4B
Common Stock	$1M
Additional Paid-In Capital	$6.5B
Retained Earnings	$16.3B
Treasury Stock	$0
Accum. Other Comp. Income	$28M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$22.8B
Minority Interest	-$84M
TOTAL EQUITY	$22.7B
TOTAL LIABILITIES & EQUITY	$62.1B
Total Debt	$25.0B
Net Debt	$18.9B