Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Aggregate Accruals
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Gilead Sciences Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 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 capital structure exhibits a general shift toward a higher proportion of equity relative to liabilities throughout most of the analyzed period, although this trend is sharply reversed in the final quarter. Total liabilities generally declined from 71.90% in March 2021 to a low of 58.37% in March 2026, before experiencing a significant surge to 76.21% by June 2026. Conversely, total stockholders' equity showed a steady increase from 28.10% to a peak of 41.63% in March 2026, followed by a substantial contraction to 23.79% in June 2026.
- Debt and Long-term Obligations
- Long-term debt, net of current portions, remained a dominant component of the balance sheet, typically fluctuating between 34% and 42%. A notable escalation occurs in June 2026, where long-term debt rises to 48.28% of total liabilities and stockholders' equity. The current portion of long-term debt exhibits higher volatility, peaking at 6.51% in March 2024 and 5.04% in June 2025, indicating periodic shifts in debt maturity profiles.
- Tax Liability Trends
- A consistent and significant reduction is observed in tax-related liabilities. Long-term income taxes payable decreased from 7.44% in March 2021 to 1.91% by June 2026. Simultaneously, deferred tax liabilities underwent a more pronounced decline, falling from 6.61% in March 2021 to 0.67% in June 2026. This suggests a systematic reduction in future tax obligations or a change in tax accounting positions over the five-year period.
- Equity and Retained Earnings
- Additional paid-in capital demonstrates a sustained upward trajectory, increasing from 6.06% in March 2021 to 19.31% in June 2026, which points toward continued capital infusions. Retained earnings remained relatively stable between 19% and 26% for the majority of the period; however, a precipitous drop to 4.46% is recorded in June 2026. This sharp decline, coupled with the spike in total liabilities, suggests a major capital event, such as a significant dividend distribution or a large-scale share repurchase program.
- Current Liability Dynamics
- Current liabilities as a percentage of the total balance sheet increased from 14.38% in March 2021 to a peak of 23.12% in March 2024, eventually settling at 22.32% in June 2026. Within this category, accrued rebates show a gradual increase, rising from 4.99% in March 2021 to 8.58% in June 2026, indicating an increasing proportion of revenue-related obligations relative to the total capital structure.
Overall, the analysis reveals a long-term trend of equity strengthening and tax liability reduction that was abruptly interrupted in the final quarter of the period. The dramatic shift in June 2026—characterized by a surge in long-term debt and a collapse in retained earnings—represents a fundamental alteration in the company's financing strategy and equity position.