Stock Analysis on Net

Gilead Sciences Inc. (NASDAQ:GILD)

Analysis of Debt 

Microsoft Excel

Total Debt (Carrying Amount)

Gilead Sciences Inc., balance sheet: debt

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Current portion of long-term debt and other obligations, net 1,815 1,798 2,273 1,516 2,757
Long-term debt, net, excluding current portion 24,896 23,189 22,957 25,179 28,645
Total debt, net (carrying amount) 26,711 24,987 25,230 26,695 31,402

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).


Current portion of long-term debt and other obligations, net
The current portion of long-term debt and other obligations shows a fluctuating trend over the reported periods. It decreased significantly from 2,757 million USD at the end of 2020 to 1,516 million USD by the end of 2021. Following this decline, there was an increase to 2,273 million USD by the end of 2022, then a subsequent decrease to 1,798 million USD in 2023. The value slightly rose again to 1,815 million USD by the end of 2024. Overall, this category presents short-term variability without a clear upward or downward long-term trend.
Long-term debt, net, excluding current portion
Long-term debt, net of the current portion, exhibited a general downward trend from 28,645 million USD in 2020 to 22,957 million USD in 2022. This equates to a reduction of approximately 19.8% over two years. However, there was a modest rebound in subsequent periods, with the figure rising to 23,189 million USD in 2023 and further to 24,896 million USD by the end of 2024. Despite this partial recovery, the long-term debt level in 2024 remains below the initial 2020 value, indicating an overall reduction in long-term debt exposure across five years.
Total debt, net (carrying amount)
Total net debt followed a declining trajectory during the first three years from 31,402 million USD at the end of 2020 to 25,230 million USD at the end of 2022, marking a decrease of approximately 19.6%. From there, total debt stabilized with minor changes, decreasing slightly to 24,987 million USD in 2023 before increasing to 26,711 million USD in 2024. The recent uptick suggests a partial reversal of earlier deleveraging trends, but the total debt figure in 2024 still remains below the peak level recorded in 2020.

Total Debt (Fair Value)

Microsoft Excel
Dec 31, 2024
Selected Financial Data (US$ in millions)
Senior unsecured notes 23,335
Liability related to future royalties 900
Total debt, net (fair value) 24,235
Financial Ratio
Debt, fair value to carrying amount ratio 0.91

Based on: 10-K (reporting date: 2024-12-31).


Weighted-average Interest Rate on Debt

Weighted-average interest rate on debt: 4.11%

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
3.50% 1,750 61
3.65% 2,747 100
2.95% 1,249 37
1.20% 748 9
4.80% 746 36
1.65% 995 16
5.25% 993 52
5.10% 991 51
4.60% 994 46
4.00% 744 30
2.60% 989 26
5.65% 997 56
4.80% 1,738 83
4.50% 1,735 78
4.75% 2,224 106
4.15% 1,730 72
2.80% 1,479 41
5.55% 988 55
5.50% 989 54
5.60% 738 41
Total 25,564 1,051
4.11%

Based on: 10-K (reporting date: 2024-12-31).

1 US$ in millions

2 Weighted-average interest rate = 100 × 1,051 ÷ 25,564 = 4.11%