Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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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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Profitability Ratios (Summary)
Gilead Sciences Inc., profitability ratios (quarterly data)
Based on: 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).
The profitability metrics exhibited considerable fluctuation throughout the observed period. Initial values demonstrated a generally positive performance, followed by a period of decline, and then a substantial recovery, culminating in strong results by the end of the analysis timeframe. A notable divergence in performance is apparent when comparing the earlier quarters to the later ones, particularly concerning operating and net profit margins.
- Gross Profit Margin
- The gross profit margin remained relatively stable, fluctuating between 74.31% and 79.03% for the majority of the period. A slight downward trend was observed from March 2022 to September 2022, followed by a recovery and stabilization around 78% to 79% from December 2022 through December 2025. This indicates consistent efficiency in production and cost of goods sold management.
- Operating Profit Margin
- The operating profit margin experienced more significant volatility. It decreased from 26.56% in March 2022 to a low of 22.39% in September 2022, before recovering to 33.03% by March 2023. However, a sharp decline occurred in the first half of 2024, reaching a low of 2.92% in September 2024. Subsequently, the operating profit margin rebounded strongly, reaching 36.75% in September 2025 and 34.66% in December 2025. This suggests substantial changes in operating expenses or revenue generation capabilities.
- Net Profit Margin
- The net profit margin mirrored the trend of the operating profit margin, exhibiting a decline from 16.60% in March 2022 to 12.44% in September 2022, followed by a recovery to 21.60% in September 2023. A dramatic decrease was then observed in 2024, bottoming out at 0.45% in September 2024. Similar to the operating margin, a strong recovery occurred in 2025, with the net profit margin reaching 29.43% in December 2025. This indicates a significant impact from non-operating items or changes in the effective tax rate alongside operational performance.
- Return on Equity (ROE)
- ROE followed a similar pattern to the profit margins. It decreased from 22.66% in March 2022 to 15.82% in September 2022, then increased to 26.33% in September 2023. The sharp decline in profitability in 2024 resulted in a corresponding drop in ROE to 0.69% in September 2024. A substantial recovery was then seen, with ROE reaching 37.65% in September 2025 and 37.48% in December 2025, indicating improved efficiency in utilizing shareholder equity to generate profits.
- Return on Assets (ROA)
- ROA exhibited a comparable trend to ROE and the profit margins. It decreased from 7.16% in March 2022 to 5.33% in September 2022, increased to 9.42% in September 2023, and then declined to 0.23% in September 2024. A strong recovery followed, with ROA reaching 13.86% in September 2025 and 14.42% in December 2025, demonstrating improved efficiency in utilizing assets to generate profits.
The pronounced recovery in all profitability ratios during the latter portion of the analyzed period suggests successful implementation of strategic initiatives or a favorable shift in market conditions. The significant decline experienced in 2024 warrants further investigation to understand the underlying causes and assess the sustainability of the subsequent recovery.
Return on Sales
Return on Investment
Gross Profit Margin
Gilead Sciences Inc., gross profit margin calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||
| Gross profit on product sales | |||||||||||||||||||||
| Product sales | |||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||
| Gross profit margin1 | |||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||
| 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. | |||||||||||||||||||||
Based on: 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).
1 Q4 2025 Calculation
Gross profit margin = 100
× (Gross profit on product salesQ4 2025
+ Gross profit on product salesQ3 2025
+ Gross profit on product salesQ2 2025
+ Gross profit on product salesQ1 2025)
÷ (Product salesQ4 2025
+ Product salesQ3 2025
+ Product salesQ2 2025
+ Product salesQ1 2025)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The gross profit margin exhibited relative stability over the observed period, generally fluctuating between 74% and 79%. While some quarterly variations are present, a clear, sustained upward or downward trend is not readily apparent. Initial values in the first quarter of 2022 were approximately 75.5%, with a peak of 79.03% in the fourth quarter of the same year.
- Overall Trend
- From the first quarter of 2022 through the fourth quarter of 2023, the gross profit margin demonstrated a pattern of oscillation. It began at 75.50%, peaked at 79.03%, then decreased to 75.87% before rising again to 78.15%. The subsequent quarters showed a slight decline to 78.44% by the end of 2025.
- Short-Term Fluctuations
- A noticeable increase in gross profit margin occurred between the third and fourth quarters of 2022, rising from 74.31% to 79.03%. Conversely, a decrease was observed between the fourth quarter of 2022 and the first quarter of 2023, falling from 79.03% to 78.94%. Similar, though less pronounced, fluctuations occurred throughout the remainder of the period.
- Recent Performance (2024-2025)
- The gross profit margin remained relatively stable between 75.56% and 78.44% from the first quarter of 2024 through the fourth quarter of 2025. The first half of 2025 showed a slight increase from 78.17% to 78.42%, followed by a minor decrease to 78.31% and a final increase to 78.44% in the last quarter of 2025.
The consistency of the gross profit margin suggests effective cost management related to product sales or stable pricing strategies. The observed fluctuations, while present, do not indicate a significant shift in the underlying profitability of product sales.
Operating Profit Margin
Gilead Sciences Inc., operating profit margin calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||
| Operating income (loss) | |||||||||||||||||||||
| Product sales | |||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||
| Operating profit margin1 | |||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||
| 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. | |||||||||||||||||||||
Based on: 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).
1 Q4 2025 Calculation
Operating profit margin = 100
× (Operating income (loss)Q4 2025
+ Operating income (loss)Q3 2025
+ Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025)
÷ (Product salesQ4 2025
+ Product salesQ3 2025
+ Product salesQ2 2025
+ Product salesQ1 2025)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The operating profit margin exhibited considerable fluctuation throughout the observed period, spanning from March 31, 2022, to December 31, 2025. Initial values demonstrated a relatively stable performance, followed by a period of significant volatility and a subsequent recovery towards the end of the timeframe.
- Initial Period (Mar 31, 2022 – Dec 31, 2022)
- The operating profit margin began at 26.56% and generally decreased to 22.39% before rising to 27.17% by December 31, 2022. This suggests a moderate level of profitability with some quarterly variation. Product sales remained relatively consistent during this period, indicating that changes in operating income were likely driven by cost management or other operational factors.
- First Recovery Phase (Mar 31, 2023 – Sep 30, 2023)
- A notable increase in the operating profit margin was observed, rising from 33.03% to 30.37% over the first three quarters of 2023. This coincided with a slight increase in product sales, suggesting improved efficiency or pricing power. The operating income also increased during this period.
- Significant Decline (Dec 31, 2023 – Mar 31, 2024)
- The operating profit margin experienced a dramatic decline, falling to 5.79% by December 31, 2023, and reaching a low of 2.92% in the following quarter. This coincided with a substantial decrease in operating income, despite relatively stable product sales. This suggests a significant increase in operating expenses or a one-time impairment impacting profitability.
- Subsequent Recovery (Jun 30, 2024 – Dec 31, 2025)
- Following the sharp decline, the operating profit margin began to recover, reaching 34.66% by December 31, 2025. This recovery was accompanied by an increase in both operating income and product sales. The margin peaked at 36.75% in September 2025, indicating a return to strong profitability. The recovery suggests successful implementation of cost-cutting measures or a favorable shift in the business environment.
Overall, the operating profit margin demonstrated a cyclical pattern, with periods of stability, decline, and recovery. The most significant event was the substantial decrease in profitability observed in late 2023 and early 2024, followed by a robust recovery through the end of the observed period. The correlation between operating income and the operating profit margin is strong, indicating that changes in operating income are the primary driver of margin fluctuations.
Net Profit Margin
Gilead Sciences Inc., net profit margin calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||
| Net income (loss) attributable to Gilead | |||||||||||||||||||||
| Product sales | |||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||
| Net profit margin1 | |||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||
| 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. | |||||||||||||||||||||
Based on: 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).
1 Q4 2025 Calculation
Net profit margin = 100
× (Net income (loss) attributable to GileadQ4 2025
+ Net income (loss) attributable to GileadQ3 2025
+ Net income (loss) attributable to GileadQ2 2025
+ Net income (loss) attributable to GileadQ1 2025)
÷ (Product salesQ4 2025
+ Product salesQ3 2025
+ Product salesQ2 2025
+ Product salesQ1 2025)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The net profit margin exhibited considerable fluctuation throughout the observed period, spanning from March 31, 2022, to December 31, 2025. Initial values demonstrated a relatively strong profitability, followed by a period of decline, a subsequent recovery, and ultimately, a peak in the final reported quarters.
- Initial Period (Mar 31, 2022 – Dec 31, 2022)
- The net profit margin began at 16.60% in March 2022, experienced a slight decrease to 15.22% in June 2022, and then declined further to 12.44% by September 2022. A recovery was observed in December 2022, with the margin increasing to 17.02%. This initial period suggests some volatility, but generally healthy profitability levels.
- Recovery and Stabilization (Mar 31, 2023 – Dec 31, 2023)
- From March 2023 through December 2023, the net profit margin demonstrated a strengthening trend, rising from 20.87% to 21.60% and then stabilizing around 21.03%. This indicates a period of improved efficiency in converting sales into profit. The values remained consistently above 20% during this timeframe.
- Significant Decline and Subsequent Rebound (Mar 31, 2024 – Jun 30, 2025)
- A dramatic decrease occurred in March 2024, with the net profit margin falling to 1.78%. This was followed by a recovery to 3.82% in June 2024, but a further decline to 0.45% in September 2024. However, a strong rebound commenced in the latter half of 2024 and continued into 2025, culminating in margins of 28.41% in September 2025 and 29.43% in December 2025. This suggests a significant, though temporary, disruption to profitability followed by a substantial recovery and improvement.
- Overall Trend
- The overall trend reveals a U-shaped pattern. While initial margins were strong, a period of decline was observed, followed by a significant recovery and ultimately, a peak in profitability exceeding initial levels. The substantial fluctuations, particularly the sharp decline in March 2024, warrant further investigation to understand the underlying drivers. The final reported quarters demonstrate a notably improved and sustained level of profitability.
The observed changes in net profit margin do not occur in isolation and should be considered in conjunction with trends in product sales and other relevant financial metrics for a comprehensive understanding of the company’s financial performance.
Return on Equity (ROE)
Gilead Sciences Inc., ROE calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||
| Net income (loss) attributable to Gilead | |||||||||||||||||||||
| Total Gilead stockholders’ equity | |||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||
| ROE1 | |||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||
| 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. | |||||||||||||||||||||
Based on: 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).
1 Q4 2025 Calculation
ROE = 100
× (Net income (loss) attributable to GileadQ4 2025
+ Net income (loss) attributable to GileadQ3 2025
+ Net income (loss) attributable to GileadQ2 2025
+ Net income (loss) attributable to GileadQ1 2025)
÷ Total Gilead stockholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
Return on Equity (ROE) exhibited considerable fluctuation throughout the observed period, spanning from March 31, 2022, to December 31, 2025. Initial values demonstrated a strong performance, followed by periods of decline and subsequent recovery, culminating in a robust finish to the analyzed timeframe.
- Initial Performance (Mar 31, 2022 – Dec 31, 2022)
- The ROE began at 22.66% in March 2022, followed by a decrease to 20.44% in June 2022. A further decline was observed in September 2022, reaching 15.82%. However, the ROE rebounded strongly in December 2022, increasing to 21.62%, indicating a recovery in profitability relative to equity.
- Continued Volatility & Growth (Mar 31, 2023 – Dec 31, 2023)
- The ROE continued to demonstrate positive momentum in the first half of 2023, reaching 26.59% and 25.92% in March and June, respectively. This trend continued into the third quarter, peaking at 26.33% in September 2023, before slightly decreasing to 24.81% by the end of the year. This period suggests a sustained period of strong profitability.
- Significant Decline & Recovery (Mar 31, 2024 – Dec 31, 2024)
- A substantial decline in ROE was observed in the first quarter of 2024, falling to 2.77%. This was followed by a moderate recovery to 5.77% in June 2024, and further improvement to 0.69% and 2.48% in subsequent quarters. The significant drop in March 2024 warrants further investigation, potentially linked to a substantial net loss attributable to the company during that period.
- Strong Finish (Mar 31, 2025 – Dec 31, 2025)
- The ROE experienced a significant resurgence in 2025, increasing to 31.13% in March, 32.08% in June, 37.65% in September, and concluding at 37.48% in December. This represents the highest ROE value observed throughout the entire analyzed period, indicating a substantial improvement in profitability relative to equity and a strong closing performance.
Overall, the ROE demonstrates a pattern of volatility, with periods of strong performance interspersed with notable declines. The latter portion of the analyzed period, particularly 2025, shows a marked improvement and a return to high levels of profitability as measured by ROE.
Return on Assets (ROA)
Gilead Sciences Inc., ROA calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||
| Net income (loss) attributable to Gilead | |||||||||||||||||||||
| Total assets | |||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||
| ROA1 | |||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||
| 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. | |||||||||||||||||||||
Based on: 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).
1 Q4 2025 Calculation
ROA = 100
× (Net income (loss) attributable to GileadQ4 2025
+ Net income (loss) attributable to GileadQ3 2025
+ Net income (loss) attributable to GileadQ2 2025
+ Net income (loss) attributable to GileadQ1 2025)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The Return on Assets (ROA) exhibited considerable fluctuation over the observed period, spanning from March 31, 2022, to December 31, 2025. Initial values demonstrated a generally decreasing trend through the first half of 2022, followed by a period of relative stability and then a significant increase in the latter half of 2023 and into 2025.
- Initial Decline and Stabilization (Mar 31, 2022 – Dec 31, 2022)
- The ROA began at 7.16% in March 2022, declining to 6.58% by June 2022, and further to 5.33% by September 2022. A modest recovery was then observed, reaching 7.27% by December 2022. This initial period suggests potential challenges in efficiently utilizing assets to generate profit, although the December 2022 value indicates a possible stabilization.
- Growth Phase (Mar 31, 2023 – Sep 30, 2023)
- A clear upward trend emerged in the first three quarters of 2023, with the ROA increasing from 9.02% in March to 9.42% in September. This indicates improved asset utilization and profitability during this timeframe. The ROA experienced a slight decrease to 9.12% in December 2023, but remained elevated compared to the prior year.
- Significant Increase and Peak (Mar 31, 2024 – Sep 30, 2025)
- The ROA experienced a substantial decline in March 2024, falling to 0.86%, likely influenced by a significant decrease in net income. However, the ROA demonstrated a strong recovery throughout 2024 and into 2025, reaching 14.42% by December 2025. This represents the highest value observed during the analyzed period and suggests a substantial improvement in the company’s ability to generate earnings from its asset base. The increase is particularly notable given the initial low point in March 2024.
- Net Income and Total Assets Relationship
- The fluctuations in ROA closely mirror the changes in net income attributable to the company. While total assets remained relatively stable throughout the period, the significant swings in net income appear to be the primary driver of the observed ROA trends. The substantial negative net income in March 2024 directly contributed to the low ROA value for that quarter.
Overall, the ROA demonstrates a volatile pattern, with a marked improvement in recent quarters. The company’s ability to recover from a significant net loss and achieve a peak ROA by the end of the analyzed period suggests effective strategic adjustments or favorable market conditions.