Price to Earnings (P/E)
since 2005
Calculation
Gilead Sciences Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss) attributable to Gilead1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 24, 2026 | 21.54 | = | 147.64 | ÷ | 6.86 | 6.86 | = | 8,510 | ÷ | 1,241,420,528 | |
| Feb 28, 2025 | 296.57 | = | 114.31 | ÷ | 0.39 | 0.39 | = | 480 | ÷ | 1,245,346,062 | |
| Feb 23, 2024 | 16.17 | = | 73.55 | ÷ | 4.55 | 4.55 | = | 5,665 | ÷ | 1,245,774,616 | |
| Feb 22, 2023 | 22.68 | = | 83.50 | ÷ | 3.68 | 3.68 | = | 4,592 | ÷ | 1,247,105,154 | |
| Feb 23, 2022 | 12.36 | = | 61.35 | ÷ | 4.96 | 4.96 | = | 6,225 | ÷ | 1,253,886,724 | |
| Feb 25, 2021 | 641.48 | = | 62.79 | ÷ | 0.10 | 0.10 | = | 123 | ÷ | 1,256,593,156 | |
| Feb 25, 2020 | 16.45 | = | 70.10 | ÷ | 4.26 | 4.26 | = | 5,386 | ÷ | 1,263,636,656 | |
| Feb 26, 2019 | 15.26 | = | 65.28 | ÷ | 4.28 | 4.28 | = | 5,455 | ÷ | 1,275,510,558 | |
| Feb 27, 2018 | 22.75 | = | 80.36 | ÷ | 3.53 | 3.53 | = | 4,628 | ÷ | 1,309,967,781 | |
| Feb 27, 2017 | 6.83 | = | 70.50 | ÷ | 10.33 | 10.33 | = | 13,501 | ÷ | 1,307,066,900 | |
| Feb 24, 2016 | 6.75 | = | 89.36 | ÷ | 13.25 | 13.25 | = | 18,108 | ÷ | 1,366,845,691 | |
| Feb 25, 2015 | 12.85 | = | 104.43 | ÷ | 8.12 | 8.12 | = | 12,101 | ÷ | 1,489,401,683 | |
| Feb 25, 2014 | 42.00 | = | 83.95 | ÷ | 2.00 | 2.00 | = | 3,075 | ÷ | 1,538,252,914 | |
| Feb 27, 2013 | 25.20 | = | 42.89 | ÷ | 1.70 | 1.70 | = | 2,592 | ÷ | 1,522,392,518 | |
| Feb 23, 2012 | 12.20 | = | 22.58 | ÷ | 1.85 | 1.85 | = | 2,804 | ÷ | 1,514,630,722 | |
| Feb 28, 2011 | 10.68 | = | 19.49 | ÷ | 1.82 | 1.82 | = | 2,901 | ÷ | 1,590,529,288 | |
| Mar 1, 2010 | 16.29 | = | 23.76 | ÷ | 1.46 | 1.46 | = | 2,636 | ÷ | 1,806,757,972 | |
| Feb 27, 2009 | 20.29 | = | 22.40 | ÷ | 1.10 | 1.10 | = | 2,011 | ÷ | 1,821,909,204 | |
| Feb 27, 2008 | 25.19 | = | 21.90 | ÷ | 0.87 | 0.87 | = | 1,615 | ÷ | 1,857,740,064 | |
| Feb 27, 2007 | — | = | 17.65 | ÷ | -0.64 | -0.64 | = | -1,190 | ÷ | 1,858,655,664 | |
| Mar 3, 2006 | 34.15 | = | 15.03 | ÷ | 0.44 | 0.44 | = | 814 | ÷ | 1,849,138,544 |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Gilead Sciences Inc. Annual Report.
The price-to-earnings (P/E) ratio exhibits considerable fluctuation over the observed period. Initially, the ratio demonstrates a decreasing trend from 34.15 in 2006 to 16.29 in 2010, followed by a period of volatility before increasing significantly in later years.
- Early Period (2006-2010)
- From 2006 to 2010, the P/E ratio generally declined. This decrease coincided with fluctuations in both share price and earnings per share (EPS). While the share price experienced moderate increases, EPS growth was more substantial, contributing to the declining ratio. A notable dip in the P/E ratio occurred between 2010 and 2011, correlating with a decrease in share price and continued EPS growth.
- Volatility and Increase (2011-2015)
- The period between 2011 and 2015 shows increased volatility in the P/E ratio. The ratio increased from 10.68 in 2011 to a peak of 42.00 in 2014, largely driven by a substantial increase in share price, particularly in 2013 and 2014. EPS also increased significantly in 2014 and 2015, further influencing the ratio. However, the ratio decreased in 2015, despite continued EPS growth, indicating a moderation in investor valuation relative to earnings.
- Recent Fluctuations (2016-2026)
- From 2016 onwards, the P/E ratio continued to fluctuate. A significant spike to 641.48 occurred in 2021, coinciding with a dramatic decrease in EPS. This suggests a substantial overvaluation of the stock relative to its earnings in that year. Following this peak, the ratio decreased in 2022, then increased sharply again in 2024 to 296.57, driven by a large increase in share price and a decrease in EPS. The most recent value in 2026 shows a decrease to 21.54, potentially indicating a correction or shift in market sentiment.
Overall, the P/E ratio demonstrates a lack of consistent trend, with periods of decline, volatility, and sharp increases. These fluctuations appear strongly correlated with changes in both share price and EPS, suggesting that investor sentiment and earnings performance are key drivers of the company’s valuation.
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Comparison to Competitors
Gilead Sciences Inc., P/E, long-term trends, comparison to competitors
| Gilead Sciences Inc. | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Johnson & Johnson | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 24, 2026 | 21.54 | 94.06 | 25.81 | 17.30 | 40.93 | 47.45 | 21.66 | 16.79 | 19.83 | 18.19 | 28.82 | 31.58 |
| Feb 28, 2025 | 296.57 | 79.59 | 38.24 | — | 38.12 | 77.63 | 26.92 | 13.49 | 18.42 | 17.76 | 32.03 | — |
| Feb 23, 2024 | 16.17 | 63.84 | 23.14 | 12.27 | 39.09 | 135.24 | 10.73 | 893.99 | 73.42 | 25.99 | 35.65 | 30.42 |
| Feb 22, 2023 | 22.68 | 22.62 | 19.56 | 23.97 | 25.65 | 50.08 | 22.97 | 19.21 | 7.58 | 19.68 | 30.55 | 23.02 |
| Feb 23, 2022 | 12.36 | 22.07 | 21.05 | 20.92 | 29.94 | 40.66 | 20.93 | 14.78 | 11.76 | 8.37 | 27.35 | 26.55 |
| Feb 25, 2021 | 641.48 | 40.17 | 18.82 | — | 44.49 | 31.95 | 28.92 | 26.72 | 19.62 | 15.09 | 27.89 | 20.18 |
| Feb 25, 2020 | 16.45 | 17.82 | 17.07 | 41.99 | 38.34 | 16.19 | 25.99 | 20.60 | 11.63 | 19.86 | 33.36 | 52.90 |
| Feb 26, 2019 | 15.26 | 20.60 | 14.01 | 16.81 | 29.77 | 39.13 | 23.74 | 33.46 | 21.58 | 18.17 | 35.19 | 22.59 |
| Feb 27, 2018 | 22.75 | 35.47 | 64.06 | 103.55 | 27.25 | — | 268.10 | 61.63 | 9.99 | 28.99 | 37.66 | 155.08 |
| Feb 27, 2017 | 6.83 | 16.54 | 16.03 | 20.56 | 23.02 | 32.39 | 20.08 | 46.14 | 28.10 | 42.64 | 30.45 | — |
| Feb 24, 2016 | 6.75 | 17.01 | 15.95 | 64.22 | 17.85 | 33.35 | 18.80 | 31.64 | 26.37 | 60.50 | 26.19 | — |
| Feb 25, 2015 | 12.85 | 55.08 | 22.96 | 49.80 | 23.69 | 33.06 | 17.15 | 13.94 | 23.03 | 118.44 | 27.26 | — |
| Feb 25, 2014 | 42.00 | 19.64 | 18.69 | 35.01 | 19.74 | 13.88 | 18.72 | 37.83 | 9.32 | 77.00 | 38.43 | — |
| Feb 27, 2013 | 25.20 | 11.51 | 15.68 | 30.56 | 17.73 | 14.99 | 19.64 | 20.94 | 13.51 | 21.42 | 22.54 | — |
| Feb 23, 2012 | 12.20 | — | 14.61 | 15.07 | 16.92 | 10.42 | 18.48 | 18.63 | 15.99 | — | 15.58 | 267.42 |
| Feb 28, 2011 | 10.68 | — | 10.53 | 13.99 | 18.29 | 7.86 | 12.23 | 116.63 | 18.63 | — | 20.87 | — |
| Mar 1, 2010 | 16.29 | — | 12.10 | 4.03 | 20.93 | 9.18 | 14.22 | 9.00 | 16.41 | — | 23.49 | — |
| Feb 27, 2009 | 20.29 | — | 12.06 | 7.68 | 12.56 | — | 11.67 | 6.53 | 10.25 | — | 15.25 | — |
| Feb 27, 2008 | 25.19 | — | 15.64 | 20.60 | 17.35 | 19.26 | 17.07 | 29.88 | 18.51 | — | 30.76 | — |
| Feb 27, 2007 | — | — | 25.43 | 34.64 | 19.65 | 22.40 | 17.02 | 21.57 | 9.18 | — | 113.28 | — |
| Mar 3, 2006 | 34.15 | — | 23.70 | 14.96 | 21.38 | 31.90 | 16.95 | 16.62 | 23.92 | — | 25.36 | — |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Gilead Sciences Inc., P/E, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Gilead Sciences Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Feb 24, 2026 | 21.54 | 28.98 |
| Feb 28, 2025 | 296.57 | 45.15 |
| Feb 23, 2024 | 16.17 | 32.80 |
| Feb 22, 2023 | 22.68 | 20.23 |
| Feb 23, 2022 | 12.36 | 19.27 |
| Feb 25, 2021 | 641.48 | 34.89 |
| Feb 25, 2020 | 16.45 | 21.03 |
| Feb 26, 2019 | 15.26 | 22.89 |
| Feb 27, 2018 | 22.75 | 35.21 |
| Feb 27, 2017 | 6.83 | 20.62 |
| Feb 24, 2016 | 6.75 | 19.37 |
| Feb 25, 2015 | 12.85 | 21.40 |
| Feb 25, 2014 | 42.00 | 19.54 |
| Feb 27, 2013 | 25.20 | 17.56 |
| Feb 23, 2012 | 12.20 | 16.42 |
| Feb 28, 2011 | 10.68 | 16.11 |
| Mar 1, 2010 | 16.29 | 11.66 |
| Feb 27, 2009 | 20.29 | 12.21 |
| Feb 27, 2008 | 25.19 | 20.04 |
| Feb 27, 2007 | — | 17.46 |
| Mar 3, 2006 | 34.15 | 20.94 |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Gilead Sciences Inc., P/E, long-term trends, comparison to industry (health care)
| Gilead Sciences Inc. | Health Care | |
|---|---|---|
| Feb 24, 2026 | 21.54 | 28.31 |
| Feb 28, 2025 | 296.57 | 38.03 |
| Feb 23, 2024 | 16.17 | 30.62 |
| Feb 22, 2023 | 22.68 | 351,256.81 |
| Feb 23, 2022 | 12.36 | 21.55 |
| Feb 25, 2021 | 641.48 | 32.22 |
| Feb 25, 2020 | 16.45 | 22.09 |
| Feb 26, 2019 | 15.26 | 24.32 |
| Feb 27, 2018 | 22.75 | 33.04 |
| Feb 27, 2017 | 6.83 | 21.90 |
| Feb 24, 2016 | 6.75 | 19.53 |
| Feb 25, 2015 | 12.85 | 21.38 |
| Feb 25, 2014 | 42.00 | 18.67 |
| Feb 27, 2013 | 25.20 | 15.77 |
| Feb 23, 2012 | 12.20 | 15.79 |
| Feb 28, 2011 | 10.68 | 15.12 |
| Mar 1, 2010 | 16.29 | 11.71 |
| Feb 27, 2009 | 20.29 | 13.07 |
| Feb 27, 2008 | 25.19 | 19.29 |
| Feb 27, 2007 | — | 18.61 |
| Mar 3, 2006 | 34.15 | 21.71 |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).