Health Care · Biotechnology · US stock · price as of 22 Oct 2026
Key indicators
Price
$157.19
52-week range
$114.02 – $160.51
Market cap
$195.4B
P/E (trailing)
–
EV / EBITDA
–
Free-cash-flow yield
6.6%
Dividend yield
2.1%
Revenue (last 12 months)
$30.5B
Revenue growth (3y a year)
2.6%
Operating margin
−8.2%
Return on invested capital
−5.7%
Net debt / EBITDA
–
Fair value
Fair value (average of valid models)$111.79 middle half of models $91 – $137
Versus priceOvervalued−29% to fair value
P/B multiple
$93.71
P/S multiple
$137.94
EV/revenue multiple
$142.96
10-year DCF, revenue exit
$75.34
5-year DCF, revenue exit
$108.88
Dividend discount, stable
$88.54
Dividend discount, multi-stage
$135.12
Model uncertainty
Medium
X-Ray Score
37/ 100 · High confidence · ahead of 17% of sector peers
Valuation26
Growth45
Profitability38
Financial health38
Dividends50
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Gilead Sciences is a biopharmaceutical company that researches, develops and commercialises medicines. Its products are mainly known for treating HIV, and it also offers treatments for hepatitis, liver disease, cancer and other serious conditions, including cell therapy through its Kite unit. Its customers are wholesalers, pharmacies and healthcare providers who supply patients, along with government health programmes in many countries.
Gilead earns revenue from prescription medicines, with a large portion coming from antiviral drugs. Over the last twelve months revenue was $30.5 billion, growing at 2.6% a year across the last three years. The operating margin is -8.2%, which means the business recorded an operating loss, and the return on the capital invested in it is -6%. The company pays a dividend with a yield of 2.1%.
StocksXray gives Gilead Sciences, Inc. an X-Ray Score of 37 out of 100 (high confidence), ahead of 17% of the S&P 500 stocks in its sector. Its strongest lens is dividends (50) and its weakest is valuation (26).
Our fair value (the average of the valid models) is $111.79 (range $91.13 to $136.53). At $157.19 the stock trades 41% above that value, so the label is "Overvalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Gilead Sciences, Inc. (GILD)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$61.38
$75.89
$74.37
$88.27
$120.57
$157.19
Market cap
$77.5B
$95.8B
$93.6B
$110.8B
$151.3B
$195.4B
P/E
12.5×
20.8×
16.5×
232.3×
17.8×
–
EV / revenue
3.6×
4.2×
4.1×
4.4×
5.7×
7.2×
EV / EBITDA
9.8×
15.6×
14.6×
76.7×
16.8×
–
Price / free cash flow
7.2×
11.5×
12.6×
10.8×
16.0×
15.1×
Free-cash-flow yield
13.9%
8.7%
7.9%
9.3%
6.2%
6.6%
Price / book
3.7×
4.5×
4.1×
5.7×
6.7×
16.5×
Dividend yield
4.63%
3.85%
4.03%
3.49%
2.62%
2.07%
Fundamentals checklist ● 5 Good · ● 2 Average · ● 8 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−34.0%Good
Free-cash-flow yield6.6%Good
Risk models
Altman Z score0.5×Bad
Piotroski F-Score8 of 9Good
Growth
EPS growth (3y)23.0%Good
Free-cash-flow growth (3y)4.3%Average
Revenue growth (3y)2.6%Bad
Growth consistency90%Average
Balance sheet
Current ratio1.3×Bad
Interest cover-2.5×Bad
Valuation
Fair value vs price0.7×Bad
EBIT / EV yield−1.1%Bad
Profitability
Return on invested capital−5.7%Bad
Operating margin−8.2%Bad
Gross profitability49.1%Good
XStocksXray
Gilead Sciences, Inc. (GILD)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
27,305
27,281
27,116
28,754
29,443
30,457
Gross profit
20,704
21,624
20,618
22,503
23,209
24,240
Operating income
9,918
7,330
7,605
1,662
10,022
-2,497
Net income
6,225
4,592
5,665
480
8,510
-3,240
Diluted EPS ($)
4.93
3.64
4.50
0.38
6.78
-2.59
Free cash flow
10,805
8,344
7,421
10,305
9,456
12,943
Gross margin
75.8%
79.3%
76.0%
78.3%
78.8%
79.6%
Operating margin
36.3%
26.9%
28.0%
5.8%
34.0%
−8.2%
Net margin
22.8%
16.8%
20.9%
1.7%
28.9%
−10.6%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
67,952
63,171
62,125
58,995
59,023
49,362
Cash
5,338
5,412
6,085
9,991
7,564
3,179
Total debt
26,695
25,230
24,987
26,711
24,936
26,246
Equity
21,069
21,240
22,833
19,330
22,703
11,829
Dividend per share ($)
2.84
2.92
3.00
3.08
3.16
3.22
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
