Gilead Sciences (GILD) FY2016 results: revenue $30.4 billion, down 6.9% on the year
Gilead Sciences, Inc. (GILD) reported revenue of $30.4 billion for fiscal 2016, the year ended 31 December 2016, down 6.9% on the year before. Net income was $13.5 billion, down 25.4%, and diluted earnings per share $9.94. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$30.4 billion
-6.9% on the year
FY2009FY2016
Operating margin
58.0%
68.0% a year earlier
FY2009FY2016
Net income
$13.5 billion
-25.4% on the year
FY2009FY2016
Diluted EPS
$9.94
-16.5% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
30,390
32,639
24,890
-6.9%
Cost of revenue
4,261
4,006
3,788
+6.4%
Gross profit
26,129
28,633
21,102
-8.7%
Gross margin
86.0%
87.7%
84.8%
Research and development
5,098
3,014
2,854
+69.1%
Selling, general and administrative
3,398
3,426
2,983
-0.8%
Operating income
17,633
22,193
15,265
-20.5%
Operating margin
58.0%
68.0%
61.3%
Interest expense
964
688
412
+40.1%
Pre-tax income
17,097
21,659
14,856
-21.1%
Income tax
3,609
3,553
2,797
+1.6%
Effective tax rate
21.1%
16.4%
18.8%
Net income
13,501
18,108
12,101
-25.4%
Net margin
44.4%
55.5%
48.6%
Diluted EPS
$9.94
$11.91
$7.35
-16.5%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
17,047
21,250
12,818
-19.8%
Capital expenditure
748
747
557
+0.1%
Free cash flow
16,299
20,503
12,261
-20.5%
Free cash flow margin
53.6%
62.8%
49.3%
Cash from investing
-11,985
-12,475
-1,823
Cash from financing
-9,725
-5,884
-3,025
Share-based compensation
380
382
360
-0.5%
Buybacks
11,001
10,002
5,349
+10.0%
Dividends paid
2,455
1,874
0.0
+31.0%
Dividend per share
$1.84
$1.29
$0.00
+42.6%
Diluted shares, weighted
1,358m
1,521m
1,647m
-10.7%
Shares outstanding at period end
1,310m
1,422m
1,499m
-7.9%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
18,887
18,534
15,426
+1.9%
Non-controlling interest
476
579
393
-17.8%
Redeemable equity
0.0
2.0
15.0
Debt
26,346
22,055
12,404
+19.5%
Other liabilities
11,268
10,546
6,426
+6.8%
Total liabilities and equity
56,977
51,716
34,664
+10.2%
Fixed assets
2,865
2,276
1,674
+25.9%
Goodwill
1,172
1,172
1,172
0.0%
Intangible assets
8,971
10,247
11,073
-12.5%
Investments
24,151
13,357
1,699
+80.8%
Cash and equivalents
8,229
12,851
10,027
-36.0%
Receivables
4,514
5,854
4,635
-22.9%
Inventory
1,587
1,955
1,386
-18.8%
Other assets
5,488
4,004
2,998
+37.1%
Total assets
56,977
51,716
34,664
+10.2%
10-K for the year ended 31 December 2016, filed 26 February 2019: the filing.