| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 31 | — | 17.8x | Bottom tier | |
Growth | 29 | 5.5% | 7.1% | Bottom tier | |
Quality | 44 | -8.7% | 4.5% | Around median | |
Safety | 48 | 42.0x | 2.6x | Around median | |
Capital Return | 60 | 2.20% | 2.12% | Around median | |
Momentum | 67 | 14.8% | 2.9% | Top tier | |
Sentiment | 67 | 16 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Gilead Sciences is a biopharmaceutical company that generates revenue from treatments for and prevention of HIV, liver diseases, oncology, and cell therapy. Key products include Biktarvy, Descovy, and Yeztugo in HIV, Trodelvy in breast cancer, Livdelzi and Hepcludex in liver diseases, and Kite products in cell therapy. The company is diversifying its portfolio through antibody-drug conjugate and T-cell therapy platforms after closing the acquisitions of Arcellx, Tubulis, and Ouro Medicines during FY2026.
In FY2026 Q2, product sales reached $7.6 billion, up 8% year over year, while core business sales excluding Veklury rose 10% to $7.6 billion. HIV sales accounted for $5.7 billion, or approximately 75% of product sales, liver disease sales totaled $877 million, Trodelvy approximately $457 million, and cell therapy $417 million. Other revenue added $176 million, including $156 million in non-cash, non-recurring revenue related to a revision of royalty estimates.
The non-GAAP product gross margin was 87% in FY2026 Q2, but acquired research and development expenses of $11.2 billion drove the operating margin to negative 94% and diluted earnings per share to negative $6.75. Excluding $11.1 billion of these expenses related to the acquisitions of Arcellx, Tubulis, and Ouro Medicines, the operating margin was approximately 49%, and illustrative adjusted earnings per share were $2.27. By comparison, EDGAR data for FY2026 Q1 showed revenue of $7.0 billion, net income of $2 billion, and earnings per share of $1.61.
The analyst consensus rates GILD as a “Buy,” with an average target of $151.25, a high target of $180, and a low target of $123. The average target is approximately 3.8% below the top of the 52-week range of $157.29, while the high target exceeds that level by approximately 14.4%, but the $57 spread between the endpoints reflects tangible uncertainty about the value of the pipeline and the impact of acquisitions on earnings.
Figures in the text are as of 2026-08-26; the live price is shown at the top of the page.
The HIV portfolio was the largest driver, with sales of $5.7 billion and year-over-year growth of 12% in FY2026 Q2. Biktarvy generated approximately $3.8 billion and grew 7%, while PrEP sales exceeded $1 billion for the first time. Yeztugo recorded sales of $232 million, and prevention-related Descovy sales totaled approximately $801 million. Based on these results, Gilead raised its FY2026 HIV sales growth forecast to 9%–10%.
Acquired research and development expenses totaled $11.2 billion and were primarily related to the acquisitions of Arcellx, Tubulis, and Ouro Medicines. These expenses resulted in a negative 94% operating margin and non-GAAP diluted earnings per share of negative $6.75. Excluding $11.1 billion of acquisition expenses and the non-recurring revenue item, illustrative earnings per share were $2.27 and the operating margin was approximately 49%. Therefore, most of the loss reflects acquisition-related accounting, not a decline in core business sales, which grew 10%.
Yeztugo generated sales of $232 million in FY2026 Q2, up 40% sequentially, while continuing to target approximately $1 billion for FY2026. The product became the leading long-acting option among new PrEP patients, and more than 70% of users returned for their next injection after six months. Together with Descovy, Yeztugo helped lift PrEP sales above $1 billion quarterly and to a $4 billion annualized rate. Portfolio expansion is based on once-weekly lenacapavir, for which the FDA set February 2, 2027, as the decision date, and the annual injection program, for which the company is targeting a data update in 2027 and a potential launch in 2028.
Automated analysis for informational purposes only — not investment advice.
Trodelvy sales grew 26% to $457 million in FY2026 Q2, driven by demand in two types of metastatic breast cancer. On August 24, 2026, the European Commission approved Trodelvy with Keytruda as a first-line treatment for unresectable metastatic triple-negative breast cancer. The Tubulis acquisition added an antibody-drug conjugate platform, including GS-8824, which achieved a confirmed response rate of 61% and median progression-free survival of 11 months in platinum-resistant ovarian cancer data. The Arcellx acquisition also gave the company full ownership of anito-cel and the D-Domain platform, with December 23, 2026, set as the PDUFA date for the drug in fourth-line and later relapsed or refractory multiple myeloma.
The first risk is the concentration of approximately 75% of product sales in HIV during FY2026 Q2, alongside a slowdown in the treatment market due to Affordable Care Act changes. Cell therapy sales declined 14% to $417 million because of competition, while the company reduced its FY2026 Veklury sales forecast to approximately $300 million after quarterly sales fell 81%. Acquisitions also raised acquired research and development expenses to $11.2 billion and produced a large quarterly loss, increasing the importance of successfully integrating Arcellx, Tubulis, and Ouro Medicines. Finally, analyst targets range from $123 to $180, reflecting wide differences in assessments of these opportunities and risks.
