Gilead Sciences (GILD) FY2013 results: revenue $11.2 billion, up 15.5% on the year
Gilead Sciences, Inc. (GILD) reported revenue of $11.2 billion for fiscal 2013, the year ended 31 December 2013, up 15.5% on the year before. Net income was $3.1 billion, up 18.6%, and diluted earnings per share $1.81. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$11.2 billion
+15.5% on the year
FY2007FY2013
Operating margin
40.4%
41.3% a year earlier
FY2007FY2013
Net income
$3.1 billion
+18.6% on the year
FY2007FY2013
Diluted EPS
$1.81
+10.4% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
11,202
9,703
8,385
+15.5%
Cost of revenue
2,859
2,471
2,124
+15.7%
Gross profit
8,343
7,231
6,261
+15.4%
Gross margin
74.5%
74.5%
74.7%
Research and development
2,120
1,760
1,229
+20.4%
Selling, general and administrative
1,699
1,461
1,242
+16.3%
Operating income
4,524
4,010
3,790
+12.8%
Operating margin
40.4%
41.3%
45.2%
Interest expense
307
361
205
-15.0%
Pre-tax income
4,208
3,612
3,651
+16.5%
Income tax
1,151
1,038
862
+10.8%
Effective tax rate
27.3%
28.7%
23.6%
Net income
3,075
2,592
2,804
+18.6%
Net margin
27.4%
26.7%
33.4%
Diluted EPS
$1.81
$1.64
$1.77
+10.4%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
3,105
3,195
3,639
-2.8%
Capital expenditure
134
397
132
-66.3%
Free cash flow
2,971
2,798
3,507
+6.2%
Free cash flow margin
26.5%
28.8%
41.8%
Cash from investing
-254
-11,846
3,590
Cash from financing
-2,544
563
1,764
Depreciation and amortisation
n/a
146
142
Share-based compensation
252
209
192
+20.7%
Buybacks
582
667
2,383
-12.7%
Dividends paid
0.0
n/a
n/a
Dividend per share
$0.00
n/a
n/a
Diluted shares, weighted
1,695m
1,583m
1,580m
+7.1%
Shares outstanding at period end
1,534m
1,519m
1,506m
+1.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
11,369
9,310
6,739
+22.1%
Non-controlling interest
375
241
128
+55.7%
Redeemable equity
64.0
7.1
n/a
+795.5%
Debt
6,636
8,224
7,606
-19.3%
Other liabilities
4,135
3,458
2,830
+19.6%
Total liabilities and equity
22,579
21,240
17,303
+6.3%
Fixed assets
1,166
1,100
774
+6.0%
Goodwill
1,169
1,061
1,004
+10.2%
Intangible assets
11,900
11,736
1,063
+1.4%
Investments
458
778
80.2
-41.2%
Cash and equivalents
2,113
1,804
9,884
+17.1%
Receivables
2,182
1,751
1,951
+24.6%
Inventory
1,697
1,745
1,390
-2.7%
Other assets
1,894
1,264
1,157
+49.9%
Total assets
22,579
21,240
17,303
+6.3%
10-K for the year ended 31 December 2013, filed 25 February 2014: the filing.