Gilead Sciences Inc., adjustment to net income attributable to Gilead

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net income attributable to Gilead (as reported)	480)	5,665)	4,592)	6,225)	123)
Add: Net gain (loss) on available-for-sale debt securities	5)	28)	(29)	(6)	1)
Net income attributable to Gilead (adjusted)	485)	5,693)	4,563)	6,219)	124)

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Gilead Sciences Inc., adjusted profitability ratios

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Profit Margin
Reported net profit margin	1.68%	21.03%	17.02%	23.05%	0.51%
Adjusted net profit margin	1.70%	21.14%	16.91%	23.03%	0.51%
Return on Equity (ROE)
Reported ROE	2.48%	24.81%	21.62%	29.55%	0.68%
Adjusted ROE	2.51%	24.93%	21.48%	29.52%	0.68%
Return on Assets (ROA)
Reported ROA	0.81%	9.12%	7.27%	9.16%	0.18%
Adjusted ROA	0.82%	9.16%	7.22%	9.15%	0.18%

Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Gilead Sciences Inc. adjusted net profit margin ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Gilead Sciences Inc. adjusted ROE improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Gilead Sciences Inc. adjusted ROA improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

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	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Gilead	480)	5,665)	4,592)	6,225)	123)
Product sales	28,610)	26,934)	26,982)	27,008)	24,355)
Profitability Ratio
Net profit margin¹	1.68%	21.03%	17.02%	23.05%	0.51%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to Gilead	485)	5,693)	4,563)	6,219)	124)
Product sales	28,610)	26,934)	26,982)	27,008)	24,355)
Profitability Ratio
Adjusted net profit margin²	1.70%	21.14%	16.91%	23.03%	0.51%

2024 Calculations

¹ Net profit margin = 100 × Net income attributable to Gilead ÷ Product sales
= 100 × 480 ÷ 28,610 = 1.68%

² Adjusted net profit margin = 100 × Adjusted net income attributable to Gilead ÷ Product sales
= 100 × 485 ÷ 28,610 = 1.70%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Gilead Sciences Inc. adjusted net profit margin ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Gilead	480)	5,665)	4,592)	6,225)	123)
Total Gilead stockholders’ equity	19,330)	22,833)	21,240)	21,069)	18,202)
Profitability Ratio
ROE¹	2.48%	24.81%	21.62%	29.55%	0.68%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to Gilead	485)	5,693)	4,563)	6,219)	124)
Total Gilead stockholders’ equity	19,330)	22,833)	21,240)	21,069)	18,202)
Profitability Ratio
Adjusted ROE²	2.51%	24.93%	21.48%	29.52%	0.68%

2024 Calculations

¹ ROE = 100 × Net income attributable to Gilead ÷ Total Gilead stockholders’ equity
= 100 × 480 ÷ 19,330 = 2.48%

² Adjusted ROE = 100 × Adjusted net income attributable to Gilead ÷ Total Gilead stockholders’ equity
= 100 × 485 ÷ 19,330 = 2.51%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Gilead Sciences Inc. adjusted ROE improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Gilead	480)	5,665)	4,592)	6,225)	123)
Total assets	58,995)	62,125)	63,171)	67,952)	68,407)
Profitability Ratio
ROA¹	0.81%	9.12%	7.27%	9.16%	0.18%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to Gilead	485)	5,693)	4,563)	6,219)	124)
Total assets	58,995)	62,125)	63,171)	67,952)	68,407)
Profitability Ratio
Adjusted ROA²	0.82%	9.16%	7.22%	9.15%	0.18%

2024 Calculations

¹ ROA = 100 × Net income attributable to Gilead ÷ Total assets
= 100 × 480 ÷ 58,995 = 0.81%

² Adjusted ROA = 100 × Adjusted net income attributable to Gilead ÷ Total assets
= 100 × 485 ÷ 58,995 = 0.82%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Gilead Sciences Inc. adjusted ROA improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Gilead Sciences Inc. (NASDAQ:GILD)

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