Gilead SCIENCES, Inc. (GILD) intrinsic value & 10-year financials
Gilead SCIENCES, Inc. (GILD) has a Graham intrinsic value of $1.05 per share. At $156.19 on Oct 17, 2026, the stock trades 14775% above that value. Over the last 10 fiscal years revenue shrank 0.3% a year to $29.4B, with an average return on invested capital of 15.8%.
- Graham intrinsic value
- $1.05
- Share price (Oct 17, 2026)
- $156.19
- Price vs Graham value
- 14775% above
- Market cap
- $196.0B
- Revenue (FY2025)
- $29.4B
- Revenue growth (10-yr CAGR)
- -0.3%
- ROIC (10-yr avg)
- 15.8%
- Free cash flow (FY2025)
- $9.5B
GILD 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $29.4B | $8.5B | $6.78 | $9.5B | 34.0% | 22.6% |
| FY2024 | $28.8B | $480.0M | $0.38 | $10.3B | 5.8% | 2.9% |
| FY2023 | $27.1B | $5.7B | $4.50 | $7.4B | 28.0% | 14.9% |
| FY2022 | $27.3B | $4.6B | $3.64 | $8.3B | 26.9% | 13.7% |
| FY2021 | $27.3B | $6.2B | $4.93 | $10.8B | 36.3% | 17.1% |
| FY2020 | $24.7B | $123.0M | $0.10 | $7.5B | 16.5% | 5.1% |
| FY2019 | $22.4B | $5.4B | $4.22 | $8.3B | 19.1% | 12.8% |
| FY2018 | $22.1B | $5.5B | $4.17 | $7.5B | 37.1% | 14.9% |
| FY2017 | $26.1B | $4.6B | $3.51 | $11.3B | 54.1% | 16.9% |
| FY2016 | $30.4B | $13.5B | $9.94 | $15.9B | 58.0% | 37.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Gilead Sciences is facing top-line stagnation, with revenue contracting over the decade.
Gilead Sciences has earned high returns on invested capital, averaging 15.8% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Gilead Sciences has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Gilead Sciences is modeled at -4.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $1.05 per share.