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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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 12.82 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 0.12 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 8.32 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 3.01 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 6.82 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 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 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 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 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 14.09 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 3.33 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 8.21 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 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%

Based on: 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 composition of assets has shifted considerably over the analyzed period, spanning from March 31, 2021, to December 31, 2025. A notable trend is the increasing proportion of cash and cash equivalents, particularly pronounced in the latter half of the period, peaking at 16.94% of total assets in December 2024 before decreasing slightly. Simultaneously, intangible assets and goodwill have experienced a gradual decline as a percentage of total assets, suggesting a potential shift in asset allocation or amortization effects.

Liquidity
Current assets consistently represent a significant portion of total assets, ranging from approximately 19.67% to 31.08% throughout the period. Within current assets, accounts receivable has shown a generally increasing trend, rising from 5.82% to 8.70% by June 2025. Inventories also exhibit an upward trend, albeit more moderate, increasing from 2.64% to 3.28% over the same timeframe. Prepaid and other current assets demonstrate substantial volatility, increasing significantly from 2.83% to 6.82% by September 2025. These changes suggest evolving working capital management practices.
Long-Term Investments
Long-term marketable debt securities show fluctuations, with an initial increase followed by a decline and then a substantial rise to 5.04% in December 2025. This suggests active portfolio management or strategic investment decisions. The proportion of property, plant, and equipment remains relatively stable, fluctuating between approximately 7.35% and 9.98% of total assets, indicating consistent investment in fixed assets.
Intangible Assets & Goodwill
The combined weight of intangible assets and goodwill decreased from 63.88% in March 2021 to 52.79% in December 2025. This decline is primarily driven by a reduction in the percentage of intangible assets, falling from 51.53% to 28.77%. Goodwill also decreased, though less dramatically, from 12.35% to 14.09%. The emergence of deferred tax assets in late 2024 and 2025, reaching 3.33% by December 2025, represents a new component in the long-term asset structure.

Overall, the asset composition demonstrates a move away from intangible assets and goodwill towards more liquid assets, such as cash and accounts receivable, and a notable increase in long-term marketable debt securities towards the end of the period. The increasing proportion of prepaid and other current assets also warrants further investigation to understand the underlying drivers of this change. These shifts may reflect strategic adjustments in response to market conditions or internal investment priorities.