Return on Equity (ROE)
since 2005
Calculation
Gilead Sciences Inc., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income (loss) attributable to Gilead1 | ÷ | Total Gilead stockholders’ equity1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 37.48% | = | 100 | × | 8,510) | ÷ | 22,703) |
| Dec 31, 2024 | 2.48% | = | 100 | × | 480) | ÷ | 19,330) |
| Dec 31, 2023 | 24.81% | = | 100 | × | 5,665) | ÷ | 22,833) |
| Dec 31, 2022 | 21.62% | = | 100 | × | 4,592) | ÷ | 21,240) |
| Dec 31, 2021 | 29.55% | = | 100 | × | 6,225) | ÷ | 21,069) |
| Dec 31, 2020 | 0.68% | = | 100 | × | 123) | ÷ | 18,202) |
| Dec 31, 2019 | 23.91% | = | 100 | × | 5,386) | ÷ | 22,525) |
| Dec 31, 2018 | 25.51% | = | 100 | × | 5,455) | ÷ | 21,387) |
| Dec 31, 2017 | 22.64% | = | 100 | × | 4,628) | ÷ | 20,442) |
| Dec 31, 2016 | 71.48% | = | 100 | × | 13,501) | ÷ | 18,887) |
| Dec 31, 2015 | 97.70% | = | 100 | × | 18,108) | ÷ | 18,534) |
| Dec 31, 2014 | 78.45% | = | 100 | × | 12,101) | ÷ | 15,426) |
| Dec 31, 2013 | 27.05% | = | 100 | × | 3,075) | ÷ | 11,369) |
| Dec 31, 2012 | 27.84% | = | 100 | × | 2,592) | ÷ | 9,310) |
| Dec 31, 2011 | 41.60% | = | 100 | × | 2,804) | ÷ | 6,739) |
| Dec 31, 2010 | 49.48% | = | 100 | × | 2,901) | ÷ | 5,864) |
| Dec 31, 2009 | 41.40% | = | 100 | × | 2,636) | ÷ | 6,367) |
| Dec 31, 2008 | 48.43% | = | 100 | × | 2,011) | ÷ | 4,152) |
| Dec 31, 2007 | 46.69% | = | 100 | × | 1,615) | ÷ | 3,460) |
| Dec 31, 2006 | -65.54% | = | 100 | × | (1,190) | ÷ | 1,816) |
| Dec 31, 2005 | 26.88% | = | 100 | × | 814) | ÷ | 3,028) |
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$ in millions
Return on Equity (ROE) for the analyzed period demonstrates significant fluctuations. Initially, ROE exhibited volatility, followed by a period of high performance, and then a subsequent decline before stabilizing in recent years. The analysis below details these trends.
- Initial Volatility (2005-2007)
- From 2005 to 2007, ROE experienced considerable variation. It began at 26.88% in 2005, then decreased sharply to -65.54% in 2006, likely due to a substantial net loss. A strong recovery followed in 2007, with ROE reaching 46.69%, indicating a significant improvement in profitability relative to equity.
- Period of Strong Performance (2007-2010)
- The years 2007 through 2010 generally reflect robust ROE values. ROE remained above 40% for most of this period, peaking at 49.48% in 2010. This suggests consistent profitability and efficient utilization of shareholder equity. Net income increased steadily during this timeframe, contributing to the high ROE.
- Fluctuations and Peak (2011-2015)
- From 2011 to 2015, ROE experienced fluctuations. It decreased to 41.60% in 2011 and 27.84% in 2012, before rising dramatically to 78.45% in 2014 and reaching a peak of 97.70% in 2015. This peak coincided with a substantial increase in net income, significantly outpacing the growth in total stockholders’ equity. The increase in net income in 2014 and 2015 was particularly noteworthy.
- Decline and Stabilization (2016-2025)
- Following the peak in 2015, ROE declined to 71.48% in 2016 and continued to decrease, reaching a low of 2.48% in 2022. This decline corresponded with a decrease in net income. A partial recovery was observed in 2023 and 2024, with ROE reaching 37.48% in 2024. The most recent year, 2025, shows an ROE of 8.510%, indicating a continued, though less dramatic, improvement.
- Overall Trend
- The overall trend reveals a cyclical pattern. The initial period showed volatility, followed by a period of strong and consistent returns, a subsequent peak driven by exceptional profitability, and finally a decline and stabilization. The recent years suggest a potential for recovery, but ROE remains below the levels observed during the peak years of 2014 and 2015.
AI Ask an analyst for more
Comparison to Competitors
Gilead Sciences Inc., ROE, 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 37.48% | — | 89.06% | 38.19% | 6.88% | 77.78% | 32.87% | 34.70% | 8.99% | 14.41% | 12.55% | 21.18% |
| Dec 31, 2024 | 2.48% | 128.66% | 69.59% | -54.78% | 7.87% | 74.62% | 19.68% | 36.96% | 9.11% | 15.03% | 12.78% | -3.26% |
| Dec 31, 2023 | 24.81% | 46.94% | 107.78% | 27.27% | 8.91% | 48.65% | 51.11% | 0.97% | 2.38% | 15.22% | 12.83% | 20.59% |
| Dec 31, 2022 | 21.62% | 68.60% | 178.97% | 20.37% | 14.39% | 58.64% | 23.36% | 31.57% | 32.79% | 19.14% | 15.80% | 23.88% |
| Dec 31, 2021 | 29.55% | 74.91% | 87.96% | 19.46% | 14.24% | 62.16% | 28.20% | 34.17% | 28.47% | 43.03% | 18.94% | 23.19% |
| Dec 31, 2020 | 0.68% | 35.30% | 77.20% | -23.84% | 9.17% | 109.79% | 23.25% | 27.91% | 15.21% | 31.86% | 18.47% | 31.22% |
| Dec 31, 2019 | 23.91% | — | 81.07% | 6.66% | 9.94% | 319.09% | 25.42% | 37.99% | 25.77% | 19.08% | 12.45% | 19.34% |
| Dec 31, 2018 | 25.51% | — | 67.15% | 35.07% | 9.40% | 32.88% | 25.60% | 23.30% | 17.59% | 27.91% | 10.65% | 47.28% |
| Dec 31, 2017 | 22.64% | 104.16% | 7.84% | 8.58% | 9.45% | -1.76% | 2.16% | 6.97% | 29.47% | 19.51% | 8.76% | 12.99% |
| Dec 31, 2016 | 71.48% | 128.41% | 25.85% | 27.55% | 11.10% | 19.54% | 23.49% | 9.78% | 12.12% | 20.13% | 9.39% | -9.69% |
| Dec 31, 2015 | 97.70% | 130.39% | 24.71% | 10.97% | 14.17% | 16.53% | 21.66% | 9.94% | 10.75% | 17.40% | 9.25% | -59.19% |
| Dec 31, 2014 | 78.45% | 101.84% | 20.01% | 13.49% | 11.11% | 15.55% | 23.40% | 24.50% | 12.81% | 13.69% | 9.22% | -68.70% |
| Dec 31, 2013 | 27.05% | 91.90% | 23.00% | 16.91% | 12.04% | 26.57% | 18.68% | 8.85% | 28.83% | 21.74% | 7.55% | -32.81% |
| Dec 31, 2012 | 27.84% | 156.85% | 22.80% | 14.39% | 12.58% | 27.69% | 16.74% | 11.63% | 17.93% | 60.24% | 7.62% | -10.71% |
| Dec 31, 2011 | 41.60% | — | 19.35% | 23.25% | 12.85% | 32.11% | 16.94% | 11.50% | 12.18% | -45.65% | 8.84% | 3.76% |
| Dec 31, 2010 | 49.48% | — | 19.32% | 19.74% | 13.08% | 40.82% | 23.57% | 1.58% | 9.40% | -19.79% | 6.74% | -149.74% |
| Dec 31, 2009 | 41.40% | — | 20.32% | 71.49% | 9.90% | 45.45% | 24.25% | 21.85% | 9.59% | -17.10% | 5.51% | -58.57% |
| Dec 31, 2008 | 48.43% | — | 20.58% | 42.86% | 13.43% | -30.76% | 30.46% | 41.63% | 14.08% | -19.75% | 6.66% | -192.51% |
| Dec 31, 2007 | 46.69% | — | 17.72% | 20.50% | 15.08% | 21.61% | 24.41% | 18.01% | 12.53% | -22.94% | 5.25% | -144.23% |
| Dec 31, 2006 | -65.54% | — | 15.56% | 15.86% | 16.89% | 24.25% | 28.11% | 25.25% | 27.10% | -47.24% | 1.21% | -40.89% |
| Dec 31, 2005 | 26.88% | — | 17.96% | 26.77% | 17.67% | 18.34% | 27.49% | 25.85% | 12.32% | -83.72% | 7.99% | -85.05% |
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., ROE, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Gilead Sciences Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Dec 31, 2025 | 37.48% | 26.63% |
| Dec 31, 2024 | 2.48% | 15.57% |
| Dec 31, 2023 | 24.81% | 20.65% |
| Dec 31, 2022 | 21.62% | 27.99% |
| Dec 31, 2021 | 29.55% | 29.75% |
| Dec 31, 2020 | 0.68% | 17.22% |
| Dec 31, 2019 | 23.91% | 27.68% |
| Dec 31, 2018 | 25.51% | 26.29% |
| Dec 31, 2017 | 22.64% | 14.59% |
| Dec 31, 2016 | 71.48% | 22.19% |
| Dec 31, 2015 | 97.70% | 21.44% |
| Dec 31, 2014 | 78.45% | 20.91% |
| Dec 31, 2013 | 27.05% | 20.33% |
| Dec 31, 2012 | 27.84% | 18.27% |
| Dec 31, 2011 | 41.60% | 15.52% |
| Dec 31, 2010 | 49.48% | 13.99% |
| Dec 31, 2009 | 41.40% | 20.34% |
| Dec 31, 2008 | 48.43% | 21.31% |
| Dec 31, 2007 | 46.69% | 17.07% |
| Dec 31, 2006 | -65.54% | 21.86% |
| Dec 31, 2005 | 26.88% | 19.08% |
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., ROE, long-term trends, comparison to industry (health care)
| Gilead Sciences Inc. | Health Care | |
|---|---|---|
| Dec 31, 2025 | 37.48% | 21.47% |
| Dec 31, 2024 | 2.48% | 15.74% |
| Dec 31, 2023 | 24.81% | 19.40% |
| Dec 31, 2022 | 21.62% | 24.82% |
| Dec 31, 2021 | 29.55% | 25.44% |
| Dec 31, 2020 | 0.68% | 16.70% |
| Dec 31, 2019 | 23.91% | 23.30% |
| Dec 31, 2018 | 25.51% | 21.27% |
| Dec 31, 2017 | 22.64% | 13.77% |
| Dec 31, 2016 | 71.48% | 18.53% |
| Dec 31, 2015 | 97.70% | 18.52% |
| Dec 31, 2014 | 78.45% | 19.17% |
| Dec 31, 2013 | 27.05% | 18.81% |
| Dec 31, 2012 | 27.84% | 18.20% |
| Dec 31, 2011 | 41.60% | 15.90% |
| Dec 31, 2010 | 49.48% | 14.85% |
| Dec 31, 2009 | 41.40% | 20.14% |
| Dec 31, 2008 | 48.43% | 20.29% |
| Dec 31, 2007 | 46.69% | 17.87% |
| Dec 31, 2006 | -65.54% | 20.49% |
| Dec 31, 2005 | 26.88% | 18.28% |
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).