Stock Analysis on Net
Stock Analysis on Net

Gilead Sciences Inc. (NASDAQ:GILD)

Common-Size Balance Sheet: Assets
Quarterly Data

Gilead Sciences Inc., common-size consolidated balance sheet: assets (quarterly data)

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Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash and cash equivalents 13.55 12.82 12.52 9.23 14.04 16.94 9.24 5.17 8.38 9.79 9.15 9.15 7.98 8.57 7.51 7.54 6.81 7.86 6.50 7.20 6.02
Short-term marketable debt securities 0.03 0.12 0.03 0.12 0.00 0.00 0.00 0.00 0.00 1.90 1.86 1.54 1.51 1.54 1.54 1.47 1.63 1.74 2.05 2.40 2.37
Accounts receivable, net 8.42 8.32 8.70 8.58 7.78 7.49 8.41 8.70 8.29 7.50 7.68 6.78 6.73 7.56 6.96 6.55 6.00 6.61 6.80 6.10 5.82
Inventories 3.40 3.01 3.05 3.28 3.12 2.90 3.43 3.78 3.29 2.88 2.67 2.62 2.55 2.39 2.34 2.38 2.35 2.38 2.50 2.61 2.64
Prepaid and other current assets 7.72 6.82 6.23 5.20 5.01 5.17 6.03 5.33 4.98 3.82 4.27 2.82 2.98 2.81 3.32 3.02 3.23 3.15 3.00 2.18 2.83
Current assets 33.12% 31.08% 30.54% 26.41% 29.95% 32.50% 27.10% 22.99% 24.94% 25.89% 25.62% 22.92% 21.75% 22.86% 21.67% 20.96% 20.02% 21.74% 20.85% 20.48% 19.67%
Property, plant and equipment, net 10.02 9.50 9.40 9.80 9.61 9.18 9.89 9.98 9.45 8.56 8.93 8.89 8.85 8.67 8.55 8.43 8.33 7.54 7.51 7.35 7.39
Long-term marketable debt securities 1.75 5.04 3.43 3.43 0.00 0.00 0.00 0.00 0.00 1.87 1.85 2.14 2.14 1.97 2.05 2.13 2.26 1.93 1.64 1.23 0.86
Intangible assets, net 29.11 28.77 30.70 33.32 34.30 33.81 37.68 42.61 41.62 42.58 43.53 44.52 45.81 45.74 47.06 47.53 48.08 49.23 50.52 50.51 51.53
Goodwill 14.77 14.09 14.20 14.92 14.73 14.09 15.25 15.52 14.77 13.38 13.33 13.34 13.44 13.16 13.29 13.22 13.18 12.26 12.42 12.26 12.35
Deferred tax assets 3.14 3.33 3.41 4.88 4.56 4.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other long-term assets 8.09 8.21 8.32 7.23 6.86 6.39 10.08 8.90 9.22 7.71 6.73 8.20 8.00 7.60 7.38 7.73 8.13 7.30 7.06 8.17 8.19
Long-term assets 66.88% 68.92% 69.46% 73.59% 70.05% 67.50% 72.90% 77.01% 75.06% 74.11% 74.38% 77.08% 78.25% 77.14% 78.33% 79.04% 79.98% 78.26% 79.15% 79.52% 80.33%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

The asset composition of the company exhibits a significant structural shift over the analyzed period, characterized by a steady increase in liquidity and a corresponding reduction in the relative weight of long-term assets. Total current assets rose from 19.67% in March 2021 to 33.12% by March 2026, indicating a strategic move toward a more liquid balance sheet.

Liquidity and Current Asset Trends
Cash and cash equivalents demonstrated an overall upward trajectory, increasing from 6.02% in March 2021 to 13.55% in March 2026, with a notable peak of 16.94% in December 2024. Accounts receivable also showed a gradual climb from 5.82% to 8.42% over the same period. Inventories remained relatively stable, though a slight increase from 2.64% to 3.40% is observed. Prepaid and other current assets experienced a more pronounced rise, expanding from 2.83% to 7.72%, contributing to the overall growth in the current asset ratio.
Intangible Assets and Goodwill
The most substantial change in the asset structure is the decline of intangible assets, which fell from 51.53% of total assets in March 2021 to 29.11% in March 2026. This consistent downward trend suggests significant amortization of acquired intangible assets. Conversely, goodwill remained relatively stable, fluctuating between 12.26% and 15.52%, ending the period at 14.77%, which indicates that the growth in total assets has outpaced the impairment or acquisition of new goodwill.
Fixed and Other Long-term Assets
Property, plant, and equipment (PPE) showed a modest but steady increase, rising from 7.39% in March 2021 to 10.02% in March 2026. Deferred tax assets emerged as a visible component of the balance sheet starting in December 2024, peaking at 4.88% in June 2025 before settling at 3.14% in March 2026. Other long-term assets remained volatile, generally fluctuating between 6% and 10% of the total asset base.
Overall Asset Rebalancing
The balance sheet transitioned from a long-term asset dominance of 80.33% in March 2021 to 66.88% in March 2026. This transition is primarily driven by the attrition of intangible assets and a concerted increase in cash holdings and other current assets, resulting in a balance sheet that is significantly more liquid and less dependent on amortizable intangible valuations.

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