Gilead Sciences (GILD) FY2015 results: revenue $32.6 billion, up 31.1% on the year
Gilead Sciences, Inc. (GILD) reported revenue of $32.6 billion for fiscal 2015, the year ended 31 December 2015, up 31.1% on the year before. Net income was $18.1 billion, up 49.6%, and diluted earnings per share $11.91. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2016.
Revenue
$32.6 billion
+31.1% on the year
FY2008FY2015
Operating margin
68.0%
61.3% a year earlier
FY2008FY2015
Net income
$18.1 billion
+49.6% on the year
FY2008FY2015
Diluted EPS
$11.91
+62.0% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
32,639
24,890
11,202
+31.1%
Cost of revenue
4,006
3,788
2,859
+5.8%
Gross profit
28,633
21,102
8,343
+35.7%
Gross margin
87.7%
84.8%
74.5%
Research and development
3,014
2,854
2,120
+5.6%
Selling, general and administrative
3,426
2,983
1,699
+14.9%
Operating income
22,193
15,265
4,524
+45.4%
Operating margin
68.0%
61.3%
40.4%
Interest expense
688
412
307
+67.0%
Pre-tax income
21,659
14,856
4,208
+45.8%
Income tax
3,553
2,797
1,151
+27.0%
Effective tax rate
16.4%
18.8%
27.3%
Net income
18,108
12,101
3,075
+49.6%
Net margin
55.5%
48.6%
27.4%
Diluted EPS
$11.91
$7.35
$1.81
+62.0%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
21,250
12,818
3,105
+65.8%
Capital expenditure
747
557
134
+34.1%
Free cash flow
20,503
12,261
2,971
+67.2%
Free cash flow margin
62.8%
49.3%
26.5%
Cash from investing
-12,475
-1,823
-254
Cash from financing
-5,884
-3,025
-2,544
Share-based compensation
382
360
252
+6.1%
Buybacks
10,002
5,349
582
+87.0%
Dividends paid
1,874
0.0
0.0
Dividend per share
$1.29
$0.00
$0.00
Diluted shares, weighted
1,521m
1,647m
1,695m
-7.7%
Shares outstanding at period end
1,422m
1,499m
1,534m
-5.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
18,534
15,426
11,369
+20.1%
Non-controlling interest
579
393
375
+47.3%
Redeemable equity
2.0
15.0
64.0
-86.7%
Debt
22,055
12,404
6,636
+77.8%
Other liabilities
10,546
6,426
4,135
+64.1%
Total liabilities and equity
51,716
34,664
22,579
+49.2%
Fixed assets
2,276
1,674
1,166
+36.0%
Goodwill
1,172
1,172
1,169
0.0%
Intangible assets
10,247
11,073
11,900
-7.5%
Investments
13,357
1,699
458
+686.2%
Cash and equivalents
12,851
10,027
2,113
+28.2%
Receivables
5,854
4,635
2,182
+26.3%
Inventory
1,955
1,386
1,697
+41.1%
Other assets
4,004
2,998
1,894
+33.6%
Total assets
51,716
34,664
22,579
+49.2%
10-K for the year ended 31 December 2015, filed 24 February 2016: the filing.