Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Gilead Sciences Inc., consolidated statement of comprehensive income
US$ in millions
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 statement of comprehensive income reveals significant fluctuations in the company’s financial performance between 2021 and 2025. Net income experienced considerable volatility, beginning at US$6,201 million in 2021, decreasing to US$4,566 million in 2022, increasing to US$5,613 million in 2023, plummeting to US$480 million in 2024, and then rebounding sharply to US$8,510 million in 2025.
- Net Income Trend
- The substantial decline in net income during 2024 is a key observation, followed by a dramatic recovery in 2025. This suggests a potentially significant event or shift in business conditions impacting 2024, which was then reversed. Further investigation into the drivers of these changes is warranted.
- Comprehensive Income
- Comprehensive income mirrors the trend in net income, moving from US$6,344 million in 2021 to US$4,485 million in 2022, US$5,639 million in 2023, US$584 million in 2024, and finally to US$8,418 million in 2025. The correlation between net income and comprehensive income is strong, indicating that other comprehensive income components have a relatively limited impact on overall profitability.
- Other Comprehensive Income Components
- Several components contribute to other comprehensive income. Net gain (loss) on foreign currency translation exhibited fluctuations, ranging from a loss of US$38 million in 2021 to a gain of US$60 million in 2023, a loss of US$26 million in 2024, and a gain of US$38 million in 2025. These variations suggest exposure to foreign exchange rate risks. Net gain (loss) on available-for-sale debt securities also showed variability, though with smaller absolute values. The most volatile component was net gain (loss) on cash flow hedges, swinging from a gain of US$187 million in 2021 to a loss of US$138 million in 2025.
- Noncontrolling Interest
- Comprehensive loss attributable to noncontrolling interest increased steadily from US$24 million in 2021 to US$52 million in 2023, with no values reported for 2024 or 2025. This suggests a growing portion of the company’s consolidated results are attributable to entities in which it does not hold a controlling stake. The absence of reported values for 2024 and 2025 requires further clarification.
Overall, the period demonstrates significant earnings volatility, particularly in 2024. While comprehensive income provides a broader view of financial performance, its trend closely follows that of net income. The fluctuations in other comprehensive income components, especially cash flow hedges and foreign currency translation, warrant further scrutiny to understand their underlying causes and potential impact on future financial results.