Gilead Sciences (GILD) FY2017 results: revenue $26.1 billion, down 14.1% on the year
Gilead Sciences, Inc. (GILD) reported revenue of $26.1 billion for fiscal 2017, the year ended 31 December 2017, down 14.1% on the year before. Net income was $4.6 billion, down 65.7%, and diluted earnings per share $3.51. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$26.1 billion
-14.1% on the year
FY2010FY2017
Operating margin
54.1%
58.0% a year earlier
FY2010FY2017
Net income
$4.6 billion
-65.7% on the year
FY2010FY2017
Diluted EPS
$3.51
-64.7% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
26,107
30,390
32,639
-14.1%
Cost of revenue
4,371
4,261
4,006
+2.6%
Gross profit
21,736
26,129
28,633
-16.8%
Gross margin
83.3%
86.0%
87.7%
Research and development
3,734
5,098
3,014
-26.8%
Selling, general and administrative
3,878
3,398
3,426
+14.1%
Operating income
14,124
17,633
22,193
-19.9%
Operating margin
54.1%
58.0%
68.0%
Interest expense
1,118
964
688
+16.0%
Pre-tax income
13,529
17,097
21,659
-20.9%
Income tax
8,885
3,609
3,553
+146.2%
Effective tax rate
65.7%
21.1%
16.4%
Net income
4,628
13,501
18,108
-65.7%
Net margin
17.7%
44.4%
55.5%
Diluted EPS
$3.51
$9.94
$11.91
-64.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
11,898
17,047
21,250
-30.2%
Capital expenditure
590
748
747
-21.1%
Free cash flow
11,308
16,299
20,503
-30.6%
Free cash flow margin
43.3%
53.6%
62.8%
Cash from investing
-16,069
-11,985
-12,475
Cash from financing
3,393
-9,725
-5,884
Share-based compensation
638
380
382
+67.9%
Buybacks
954
11,001
10,002
-91.3%
Dividends paid
2,731
2,455
1,874
+11.2%
Dividend per share
$2.08
$1.84
$1.29
+13.0%
Diluted shares, weighted
1,319m
1,358m
1,521m
-2.9%
Shares outstanding at period end
1,308m
1,310m
1,422m
-0.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
20,442
18,887
18,534
+8.2%
Non-controlling interest
59.0
476
579
-87.6%
Redeemable equity
n/a
0.0
2.0
Debt
33,542
26,346
22,055
+27.3%
Other liabilities
16,240
11,268
10,546
+44.1%
Total liabilities and equity
70,283
56,977
51,716
+23.4%
Fixed assets
3,295
2,865
2,276
+15.0%
Goodwill
4,159
1,172
1,172
+254.9%
Intangible assets
17,100
8,971
10,247
+90.6%
Investments
29,106
24,151
13,357
+20.5%
Cash and equivalents
7,588
8,229
12,851
-7.8%
Receivables
3,851
4,514
5,854
-14.7%
Inventory
801
1,587
1,955
-49.5%
Other assets
4,383
5,488
4,004
-20.1%
Total assets
70,283
56,977
51,716
+23.4%
10-K for the year ended 31 December 2017, filed 26 February 2019: the filing.