Gilead Sciences (GILD) FY2012 results: revenue $9.7 billion, up 15.7% on the year
Gilead Sciences, Inc. (GILD) reported revenue of $9.7 billion for fiscal 2012, the year ended 31 December 2012, up 15.7% on the year before. Net income was $2.6 billion, down 7.6%, and diluted earnings per share $1.64. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.
Revenue
$9.7 billion
+15.7% on the year
FY2007FY2012
Operating margin
41.3%
45.2% a year earlier
FY2007FY2012
Net income
$2.6 billion
-7.6% on the year
FY2007FY2012
Diluted EPS
$1.64
-7.6% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
9,703
8,385
7,949
+15.7%
Cost of revenue
2,471
2,124
1,870
+16.3%
Gross profit
7,231
6,261
6,080
+15.5%
Gross margin
74.5%
74.7%
76.5%
Research and development
1,760
1,229
1,073
+43.2%
Selling, general and administrative
1,461
1,242
1,044
+17.6%
Operating income
4,010
3,790
3,962
+5.8%
Operating margin
41.3%
45.2%
49.8%
Interest expense
361
205
109
+75.7%
Pre-tax income
3,612
3,651
3,914
-1.1%
Income tax
1,038
862
1,024
+20.5%
Effective tax rate
28.7%
23.6%
26.2%
Net income
2,592
2,804
2,901
-7.6%
Net margin
26.7%
33.4%
36.5%
Diluted EPS
$1.64
$1.77
$1.66
-7.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
3,195
3,639
2,834
-12.2%
Capital expenditure
397
132
61.9
+201.0%
Free cash flow
2,798
3,507
2,772
-20.2%
Free cash flow margin
28.8%
41.8%
34.9%
Cash from investing
-11,846
3,590
-1,938
Cash from financing
563
1,764
-1,339
-68.1%
Depreciation and amortisation
146
142
127
+3.1%
Share-based compensation
209
192
200
+8.5%
Buybacks
667
2,383
4,023
-72.0%
Diluted shares, weighted
1,583m
1,580m
1,747m
+0.1%
Shares outstanding at period end
1,519m
1,506m
1,604m
+0.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
9,310
6,739
5,864
+38.2%
Non-controlling interest
241
128
258
+87.7%
Redeemable equity
7.1
n/a
n/a
Debt
8,224
7,606
2,839
+8.1%
Other liabilities
3,458
2,830
2,632
+22.2%
Total liabilities and equity
21,240
17,303
11,593
+22.8%
Fixed assets
1,100
774
701
+42.1%
Goodwill
1,061
1,004
533
+5.7%
Intangible assets
11,736
1,063
863
+1,004.2%
Investments
778
80.2
4,410
+870.6%
Cash and equivalents
1,804
9,884
908
-81.8%
Receivables
1,751
1,951
1,622
-10.2%
Inventory
1,745
1,390
1,204
+25.5%
Other assets
1,264
1,157
1,351
+9.3%
Total assets
21,240
17,303
11,593
+22.8%
10-K for the year ended 31 December 2012, filed 27 February 2013: the filing.