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Gilead Sciences Inc. (NASDAQ:GILD)

Common-Size Balance Sheet: Assets
Quarterly Data

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

Microsoft Excel
Sep 30, 2026 Jun 30, 2026 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 12.52 6.44 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 0.00 0.00 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 9.74 10.24 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 3.69 3.96 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 6.25 7.61 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 32.20% 28.25% 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 11.56 11.82 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 0.00 0.00 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 26.11 28.43 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 16.17 16.84 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 4.42 5.04 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 9.54 9.62 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 67.80% 71.75% 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% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 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 has undergone a significant structural shift between March 2021 and September 2026, characterized by a transition from a heavy reliance on long-term intangible assets toward increased liquidity and a higher proportion of current assets.

Liquidity and Current Asset Trends
Current assets as a percentage of total assets have increased from 19.67% in March 2021 to 32.20% by September 2026. This growth is primarily driven by a substantial rise in cash and cash equivalents, which grew from 6.02% to 12.52%, peaking at 16.94% in December 2024. Additionally, net accounts receivable showed a steady upward trend, rising from 5.82% to 9.74% over the analyzed period. Prepaid and other current assets also experienced a notable increase, nearly doubling from 2.83% to 6.25%.
Intangible Assets and Goodwill
A pronounced downward trend is observed in net intangible assets, which constituted 51.53% of total assets in March 2021 but declined to 26.11% by September 2026. This represents the most significant change in the asset structure. Conversely, goodwill has remained relatively stable with a slight overall increase, moving from 12.35% to 16.17%, peaking at 16.84% in June 2026.
Long-Term Physical and Other Assets
Net property, plant, and equipment increased moderately from 7.39% to 11.56%, indicating a gradual increase in the company's investment in physical infrastructure. Other long-term assets remained relatively stable, fluctuating between 6.39% and 10.08%. Deferred tax assets, which were not reported in the early stages of the period, appeared in December 2024 and have since fluctuated between 3.14% and 5.04% of total assets.
Overall Asset Mix Shift
The total weight of long-term assets decreased from 80.33% in March 2021 to 67.80% in September 2026. The balance sheet has evolved from being dominated by intangible assets to a more diversified structure with significantly higher allocations to cash and liquid current assets, suggesting a shift toward a more liquid financial position.

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