Stock Analysis on Net
Stock Analysis on Net

Gilead Sciences Inc. (NASDAQ:GILD)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Gilead Sciences Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Accounts payable 1.21 1.41 0.89 1.43 1.04
Accrued rebates 7.35 6.60 6.12 5.51 4.77
Current portion of long-term debt, net 4.76 3.08 2.89 3.60 2.23
Compensation and employee benefits 2.20 2.08 1.93 1.61 1.36
Income taxes payable 0.16 2.79 1.94 1.52 0.79
Allowance for sales returns 0.54 0.54 0.62 0.67 0.73
Accrual for settlement related to bictegravir litigation 0.00 0.00 0.00 0.00 1.84
Other 3.80 3.85 3.76 3.45 4.31
Other current liabilities 6.70% 9.26% 8.26% 7.25% 9.04%
Current liabilities 20.01% 20.35% 18.16% 17.79% 17.09%
Long-term debt, net, excluding current portion 37.49 42.20 37.33 36.34 37.05
Long-term income taxes payable 1.52 1.41 3.28 6.20 7.02
Deferred tax liability 0.68 1.23 2.56 4.23 6.41
Other long-term obligations 1.97 2.20 2.06 1.87 1.44
Long-term liabilities 41.67% 47.03% 45.22% 48.64% 51.92%
Total liabilities 61.68% 67.38% 63.38% 66.43% 69.00%
Preferred stock, par value $0.001 per share; none outstanding 0.00 0.00 0.00 0.00 0.00
Common stock, par value $0.001 per share 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 15.13 13.05 10.46 8.79 6.86
Accumulated other comprehensive income 0.07 0.22 0.05 0.00 0.12
Retained earnings 23.26 19.49 26.24 24.83 24.02
Total Gilead stockholders’ equity 38.46% 32.77% 36.75% 33.62% 31.01%
Noncontrolling interest -0.14 -0.14 -0.14 -0.05 -0.01
Total stockholders’ equity 38.32% 32.62% 36.62% 33.57% 31.00%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2025-12-31), 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).

The composition of liabilities and stockholders’ equity exhibited several notable shifts between 2021 and 2025. Overall, the proportion of total liabilities decreased from 69.00% to 61.68%, while stockholders’ equity increased from 31.01% to 38.32% of the total.

Current Liabilities
Current liabilities as a percentage of the total initially increased from 17.09% in 2021 to a peak of 20.35% in 2024, before decreasing to 20.01% in 2025. Within this category, accrued rebates demonstrated a consistent upward trend, rising from 4.77% to 7.35%. Income taxes payable also increased significantly, more than tripling from 0.79% to 2.79% before declining sharply to 0.16% in 2025. Accounts payable fluctuated, while other current liabilities showed a decrease in 2025.
Long-Term Liabilities
Long-term liabilities decreased from 51.92% in 2021 to 41.67% in 2025. Long-term debt, excluding the current portion, increased from 37.05% to 42.20% in 2024 before decreasing to 37.49% in 2025. Deferred tax liability and long-term income taxes payable both experienced declines throughout the period. Other long-term obligations remained relatively stable.
Stockholders’ Equity
Total stockholders’ equity increased as a percentage of the total, moving from 31.00% to 38.32%. A significant portion of this increase was driven by growth in additional paid-in capital, which rose from 6.86% to 15.13%. Retained earnings also contributed to the increase, although it experienced a decrease in 2024 before recovering in 2025. Accumulated other comprehensive income remained a small percentage of the total, with minor fluctuations. Common stock and preferred stock remained at 0% throughout the period.
Specific Items
The accrual for settlement related to bictegravir litigation was present only in 2021, representing 1.84% of the total. Allowance for sales returns showed a slight decrease over the period, remaining relatively stable at around 0.6%. Compensation and employee benefits consistently increased as a percentage of the total, indicating potential growth in personnel-related expenses.

The shifts suggest a move towards financing through equity rather than debt, coupled with changes in the timing of tax liabilities and an increase in capital raised. The fluctuations in specific current liability accounts warrant further investigation to understand the underlying operational drivers.

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