GILD Q4 2018 Earnings Report — Gilead Sciences, Inc. Revenue & Financial Results | Market Cap Arena

Gilead Sciences, Inc.GILD

Q4 2018 Earnings

Reported February 25, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2018	Q3 2018	Q4 2017	QoQ Change	YoY Change
Revenue	$5.8B	$5.6B	$5.9B	3.6%	-2.6%
Op. Income	$1.1B	$2.6B	$2.3B	-56.4%	-50.1%
Gross Margin	72.9%	80.6%	78.9%	-7.7pp	-6.0pp
Net Margin	0.1%	37.5%	-65.0%	-37.4pp	65.0pp
EPS (Diluted)	$0.00	$1.60	$-2.96	-99.9%	100.1%
Free Cash Flow	$2.1B	$2.0B	$2.5B	2.5%	-17.2%

Revenue Flow

Item	Amount
REVENUE	$5.8B
Cost of Revenue	$1.6B
GROSS PROFIT	$4.2B
R&D Expenses	$1.9B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.1B
Other Expenses	$0
Operating Expenses	$3.1B
Cost & Expenses	$4.7B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$257M
Other Income/Expenses	-$128M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$1.0B
Net Income from Continuing Ops	$3M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3M
D&A	$358M
EBIT	$1.3B
EBITDA	$1.6B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$5.8B
Cost of Revenue	$1.6B
GROSS PROFIT	$4.2B
R&D Expenses	$1.9B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.1B
Other Expenses	$0
Operating Expenses	$3.1B
Cost & Expenses	$4.7B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$257M
Other Income/Expenses	-$128M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$1.0B
Net Income from Continuing Ops	$3M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3M
D&A	$358M
EBIT	$1.3B
EBITDA	$1.6B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$3M
Depreciation & Amortization	$358M
Stock-Based Compensation	$175M
Deferred Income Tax	$279M
Other Non-Cash Items	$1.3B
Change in Working Capital	$228M
OPERATING CASH FLOW	$2.3B
Capital Expenditure	-$248M
Acquisitions (Net)	$0
Purchases of Investments	-$4.8B
Sales/Maturities of Investments	$7.6B
Other Investing Activities	$140M
NET CASH FROM INVESTING	$2.7B
Net Debt Issuance	$0
Common Stock Repurchased	-$962M
Common Dividends Paid	-$736M
Other Financing Activities	-$22M
NET CASH FROM FINANCING	-$1.7B
FREE CASH FLOW	$2.1B
Net Change in Cash	$3.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$17.9B
Short-Term Investments	$12.1B
Net Receivables	$3.3B
Inventory	$814M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$35.8B
PP&E (Net)	$4.0B
Goodwill	$4.1B
Intangible Assets	$15.7B
Long-Term Investments	$1.4B
Tax Assets	$0
Other Non-Current Assets	$2.6B
TOTAL NON-CURRENT ASSETS	$27.8B
TOTAL ASSETS	$63.7B
Account Payables	$790M
Short-Term Debt	$2.7B
Deferred Revenue	$0
Other Current Liabilities	$555M
TOTAL CURRENT LIABILITIES	$10.6B
Long-Term Debt	$24.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$7.0B
TOTAL NON-CURRENT LIABILITIES	$31.5B
TOTAL LIABILITIES	$42.1B
Common Stock	$1M
Additional Paid-In Capital	$2.3B
Retained Earnings	$19.0B
Treasury Stock	$0
Accum. Other Comp. Income	$80M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$21.4B
Minority Interest	$147M
TOTAL EQUITY	$21.5B
TOTAL LIABILITIES & EQUITY	$63.7B
Total Debt	$27.3B
Net Debt	$9.4B