Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Gilead Sciences Inc. pages available for free this week:
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Gilead Sciences Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2026-03-31), 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 progressive shift from a liability-centric model toward an increased reliance on stockholders' equity. Total liabilities decreased from 71.90% in March 2021 to 58.37% by March 2026, while total stockholders' equity expanded from 28.10% to 41.63% over the same period, indicating a strengthening of the solvency position and a reduction in relative leverage.
- Current Liability Trends
- Current liabilities experienced a period of growth, peaking at 23.12% in March 2023 before moderating to 16.84% by March 2026. Within this category, accrued rebates showed a significant upward trend, rising from approximately 5% in early 2021 to a peak of 8.42% in September 2025, suggesting an increase in relative obligations related to product rebates. Other current liabilities also remained elevated relative to baseline levels, fluctuating between 5.20% and 9.38%.
- Long-Term Obligation Analysis
- Long-term liabilities decreased from 57.52% to 41.53% of the total balance sheet. Long-term debt, net, remained the most significant component of the liability structure, maintaining a relatively stable range between 34.02% and 42.20%. The overall decline in long-term liabilities was primarily driven by a substantial reduction in tax-related obligations; long-term income taxes payable dropped from 7.44% to 1.63%, and deferred tax liabilities contracted sharply from 6.61% to 0.70%.
- Equity Composition and Growth
- The growth in stockholders' equity was characterized by a steady increase in additional paid-in capital, which rose from 6.06% in March 2021 to 16.53% by March 2026. Retained earnings demonstrated some volatility but followed a general upward trend, ending at 25.11% compared to 21.96% at the start of the period. This suggests a combination of capital injections and the retention of earnings to bolster the equity base.
- Overall Financial Stability
- The consistent decrease in the total liability ratio, paired with the growth of the equity component, points to a deliberate deleveraging process. The contraction of deferred tax liabilities and the strategic increase in paid-in capital have shifted the balance sheet toward a more equity-funded structure, reducing the company's relative dependence on external debt and tax-deferred obligations.