Company Valuation: Gilead Sciences, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 91,081 107,677 100,942 115,118 152,281 181,827 - -
Change - 18.22% -6.25% 14.04% 32.28% 19.4% - -
Enterprise Value (EV) 1 118,530 126,522 118,665 131,838 169,585 198,572 190,952 184,662
Change - 6.74% -6.21% 11.1% 28.63% 17.09% -3.84% -3.29%
P/E 14.7x 23.6x 18x 243x 18.1x -44.8x 18.3x 16.8x
PBR 4.32x 5.05x 4.48x 5.98x 6.73x 9.98x 7.57x 6.04x
PEG - -0.9x 0.8x -2.7x 0x 0x -0x 1.97x
Capitalization / Revenue 3.34x 3.95x 3.72x 4x 5.17x 5.93x 5.56x 5.29x
EV / Revenue 4.34x 4.64x 4.38x 4.59x 5.76x 6.47x 5.84x 5.38x
EV / EBITDA 8.12x 8.86x 9.01x 11.7x 10.6x 25.3x 10.7x 10.1x
EV / EBIT 9.45x 10.4x 11.3x 15.5x 12.9x 61.5x 12.1x 10.9x
EV / FCF 11x 15.2x 16x 12.8x 17.9x -377x 14.6x 13.3x
FCF Yield 9.12% 6.59% 6.25% 7.82% 5.58% -0.27% 6.85% 7.51%
Dividend per Share 2 2.84 2.92 3 3.08 3.16 3.296 3.396 3.102
Rate of return 3.91% 3.4% 3.7% 3.33% 2.57% 2.25% 2.32% 2.12%
EPS 2 4.93 3.64 4.5 0.38 6.78 -3.273 8.021 8.705
Distribution rate 57.6% 80.2% 66.7% 811% 46.6% -101% 42.3% 35.6%
Net sales 1 27,305 27,281 27,116 28,754 29,443 30,688 32,679 34,344
EBITDA 1 14,598 14,283 13,177 11,287 15,953 7,859 17,834 18,324
EBIT 1 12,548 12,180 10,484 8,520 13,193 3,226 15,830 16,887
Net income 1 6,225 4,592 5,665 480 8,510 -4,275 10,275 10,917
Net Debt 1 27,449 18,845 17,723 16,720 17,304 16,745 9,125 2,835
Reference price 2 72.61 85.85 81.01 92.37 122.74 146.64 146.64 146.64
Nbr of stocks (in thousands) 1,254,384 1,254,244 1,246,042 1,246,266 1,240,680 1,239,955 - -
Announcement Date 2/1/22 2/2/23 2/6/24 2/11/25 2/10/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
32.72x11.9x24.26x0.6% 1,024B
30.62x - - 1.95% 663B
32.73x7.6x15.8x2.67% 453B
19.22x4.69x11.6x2.83% 349B
22.02x5.68x14.1x2.82% 295B
20.97x4.3x12.3x2.05% 253B
27.66x7.14x13.16x2.31% 236B
13.33x4.82x10.06x3.78% 206B
-46.14x6.65x25.95x2.18% 187B
Average 17.01x 6.60x 15.90x 2.35% 407.48B
Weighted average by Cap. 23.94x 7.98x 17.77x 1.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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