Gilead Sciences, Inc. (GILD) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-17.4%

$140.44

vs $170.04 price

Levered DCF

$166.96

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.97

Safe zone

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	17.94×	243.08×	17.84×	23.46×	14.64×	595.1×	15.33×	14.89×
P/B	6.73×	5.96×	4.43×	5.07×	4.33×	4.02×	3.66×	3.8×
P/S	5.19×	4.01×	3.73×	3.95×	3.34×	2.97×	3.68×	3.67×
EV / EBITDA	12.52×	29.75×	11.43×	14.41×	9.94×	23.87×	12.63×	8.79×
Gross margin	78.8%	78.3%	76.0%	79.3%	75.8%	81.5%	79.2%	78.1%
Operating margin	39.7%	5.8%	28.0%	26.9%	36.3%	16.5%	19.1%	37.1%
Net margin	28.9%	1.7%	20.9%	16.8%	22.8%	0.5%	24.0%	24.7%
Current ratio	1.55×	1.6×	1.43×	1.29×	1.27×	1.4×	3.1×	3.38×
Debt / equity	1.1×	1.38×	1.09×	1.19×	1.27×	1.73×	1.09×	1.28×
Interest coverage	11.43×	1.7×	8.06×	7.84×	9.91×	4.14×	4.31×	7.61×
Dividend yield	2.6%	3.4%	3.8%	3.4%	4.0%	4.7%	3.9%	3.7%
Payout ratio	47.0%	816.3%	67.2%	80.8%	57.9%	2804.1%	59.8%	54.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	37.5%	2.5%	24.8%	21.6%	29.5%	0.7%	23.9%	25.5%
Return on invested capital	20.3%	2.4%	11.8%	10.6%	12.8%	0.4%	7.9%	10.3%
Return on assets	14.4%	0.8%	9.1%	7.3%	9.2%	0.2%	8.7%	8.6%
Free cash flow yield	6.2%	8.9%	7.3%	7.7%	11.8%	10.3%	10.1%	9.2%
Earnings yield	5.6%	0.4%	5.6%	4.3%	6.8%	0.2%	6.5%	6.7%
Enterprise value	$170.1B	$131.9B	$120B	$127.6B	$112.6B	$98.6B	$95.5B	$90.6B
Net debt / EBITDA	1.28×	3.77×	1.8×	2.24×	1.89×	6.15×	1.71×	0.91×
Cash conversion cycle (days)	123	107	132	103	111	139	75	57