Stock Analysis on Net

Gilead Sciences Inc. (NASDAQ:GILD)

Analysis of Short-term (Operating) Activity Ratios 
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Gilead Sciences Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Turnover Ratios
Inventory turnover 3.64 3.49 3.45 3.57 3.75 4.71 4.50 4.50 4.08 3.21 2.99 2.79 2.72 4.82 4.52 4.75 5.07
Receivables turnover 5.78 5.68 6.43 6.43 5.65 6.16 6.60 7.18 6.01 5.95 6.34 6.43 4.98 5.83 6.84 5.73 6.18
Payables turnover 11.81 9.90 9.06 8.99 6.25 11.22 11.89 11.43 9.36 9.18 8.70 8.71 5.42 9.22 8.93 7.94 6.56
Working capital turnover 5.61 6.74 84.15 9.14 8.42 8.56 6.87 6.68 8.54 7.25 7.09 7.06 5.30 1.07 1.55 1.24 1.08
Average No. Days
Average inventory processing period 100 105 106 102 97 78 81 81 89 114 122 131 134 76 81 77 72
Add: Average receivable collection period 63 64 57 57 65 59 55 51 61 61 58 57 73 63 53 64 59
Operating cycle 163 169 163 159 162 137 136 132 150 175 180 188 207 139 134 141 131
Less: Average payables payment period 31 37 40 41 58 33 31 32 39 40 42 42 67 40 41 46 56
Cash conversion cycle 132 132 123 118 104 104 105 100 111 135 138 146 140 99 93 95 75

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Gilead Sciences Inc. inventory turnover ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Receivables turnover An activity ratio equal to revenue divided by receivables. Gilead Sciences Inc. receivables turnover ratio deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Gilead Sciences Inc. payables turnover ratio increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Gilead Sciences Inc. working capital turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Gilead Sciences Inc. number of days of inventory outstanding improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Gilead Sciences Inc. number of days of receivables outstanding deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023.
Operating cycle Equal to average inventory processing period plus average receivables collection period.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Gilead Sciences Inc. number of days of payables outstanding decreased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.

Inventory Turnover

Gilead Sciences Inc., inventory turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Cost of goods sold 2,090 1,565 1,442 1,401 1,396 1,395 1,442 1,424 2,627 1,223 1,390 1,361 1,398 1,141 1,064 969 1,683 1,035 1,000 957
Inventories 1,787 1,663 1,633 1,576 1,507 1,463 1,494 1,482 1,618 1,676 1,772 1,779 1,683 1,008 1,052 986 922 882 884 898
Short-term Activity Ratio
Inventory turnover1 3.64 3.49 3.45 3.57 3.75 4.71 4.50 4.50 4.08 3.21 2.99 2.79 2.72 4.82 4.52 4.75 5.07
Benchmarks
Inventory Turnover, Competitors2
AbbVie Inc. 4.98 4.74 4.30 4.53 4.87 5.54 4.99 4.96 5.58 5.76 5.45 5.40 4.65 3.66 2.36 4.17 4.10
Amgen Inc. 0.89 1.41 1.38 1.31 1.30 1.34 1.40 1.48 1.58 1.53 1.53 1.53 1.58 1.48 1.38 1.31 1.22
Bristol-Myers Squibb Co. 4.02 4.33 4.39 3.93 4.33 4.77 4.59 4.55 4.74 4.85 5.01 5.61 5.68 5.83 4.46 3.50 1.88
Eli Lilly & Co. 1.23 1.40 1.37 1.36 1.54 1.86 1.79 1.93 1.88 1.79 1.80 1.68 1.38 1.42 1.48 1.55 1.48
Johnson & Johnson 2.37 2.77 2.50 2.49 2.49 2.68 2.69 2.77 2.87 2.86 2.91 2.86 3.04 2.89 2.93 3.16 3.05
Merck & Co. Inc. 2.54 2.63 2.66 2.72 2.95 3.10 3.06 2.74 2.29 2.73 2.79 2.40 2.45 2.22 2.33 2.46 2.36
Pfizer Inc. 2.45 2.65 2.31 3.07 3.82 3.62 3.66 3.67 3.40 2.78 1.80 1.28 1.08 0.90 1.05 1.15 1.23
Regeneron Pharmaceuticals Inc. 0.70 0.72 0.69 0.67 0.65 0.83 0.96 1.27 1.25 0.88 0.82 0.56 0.58 0.55 0.57 0.55 0.55
Thermo Fisher Scientific Inc. 5.06 4.83 4.64 4.62 4.60 4.29 4.03 3.87 3.88 3.90 4.03 4.01 4.02 3.92 3.93 4.14 4.22
Vertex Pharmaceuticals Inc. 1.71 1.71 1.90 2.06 2.35 2.69 2.70 2.83 2.56 2.58 2.52 2.56 2.62 2.93 3.03 3.29 3.27

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Inventory turnover = (Cost of goods soldQ4 2023 + Cost of goods soldQ3 2023 + Cost of goods soldQ2 2023 + Cost of goods soldQ1 2023) ÷ Inventories
= (2,090 + 1,565 + 1,442 + 1,401) ÷ 1,787 = 3.64

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Gilead Sciences Inc. inventory turnover ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Receivables Turnover

Gilead Sciences Inc., receivables turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Product sales 7,070 6,994 6,564 6,306 7,332 6,978 6,138 6,534 7,160 7,356 6,152 6,340 7,328 6,493 5,067 5,467 5,796 5,516 5,607 5,200
Accounts receivable, net 4,660 4,790 4,229 4,162 4,777 4,354 4,118 3,787 4,493 4,566 4,149 3,925 4,892 3,913 3,194 3,907 3,582 3,315 3,396 3,283
Short-term Activity Ratio
Receivables turnover1 5.78 5.68 6.43 6.43 5.65 6.16 6.60 7.18 6.01 5.95 6.34 6.43 4.98 5.83 6.84 5.73 6.18
Benchmarks
Receivables Turnover, Competitors2
AbbVie Inc. 4.87 4.83 4.88 4.95 5.16 5.38 5.10 5.29 5.63 5.94 5.42 5.24 5.19 4.83 4.34 5.35 6.13
Amgen Inc. 3.70 4.17 4.34 4.34 4.46 4.60 4.62 4.81 4.96 5.11 5.39 5.41 5.36 5.81 4.31 4.55 5.47
Eli Lilly & Co. 3.75 3.93 3.93 3.68 4.14 4.35 4.57 4.64 4.24 4.69 4.58 4.56 4.18 4.75 4.75 4.52 4.91
Johnson & Johnson 5.73 6.44 5.83 5.89 5.88 6.04 5.92 6.08 6.14 6.13 6.00 5.64 6.08 5.55 5.50 5.56 5.67
Merck & Co. Inc. 5.81 5.71 5.29 5.56 6.27 6.22 5.93 5.49 5.28 5.56 6.00 5.65 6.11 5.62 6.23 5.88 6.91
Pfizer Inc. 5.23 6.18 7.62 7.55 9.16 6.21 6.68 6.99 7.08 5.81 5.23 4.70 5.28 4.29 4.96 4.93 5.93
Regeneron Pharmaceuticals Inc. 2.31 2.35 2.47 2.42 2.28 2.47 2.76 3.41 2.66 2.48 1.77 2.20 2.07 2.04 2.84 2.72 2.94
Thermo Fisher Scientific Inc. 5.21 5.19 5.43 5.53 5.53 5.76 5.53 5.21 4.92 7.03 6.99 6.46 5.61 5.49 5.86 5.69 5.87
Vertex Pharmaceuticals Inc. 6.31 6.27 6.11 5.95 6.19 6.28 6.26 6.15 6.66 6.48 7.19 6.56 7.01 7.57 6.82 5.70 6.57

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Receivables turnover = (Product salesQ4 2023 + Product salesQ3 2023 + Product salesQ2 2023 + Product salesQ1 2023) ÷ Accounts receivable, net
= (7,070 + 6,994 + 6,564 + 6,306) ÷ 4,660 = 5.78

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Gilead Sciences Inc. receivables turnover ratio deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023.

Payables Turnover

Gilead Sciences Inc., payables turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Cost of goods sold 2,090 1,565 1,442 1,401 1,396 1,395 1,442 1,424 2,627 1,223 1,390 1,361 1,398 1,141 1,064 969 1,683 1,035 1,000 957
Accounts payable 550 586 622 627 905 614 565 583 705 585 608 570 844 527 532 590 713 632 617 577
Short-term Activity Ratio
Payables turnover1 11.81 9.90 9.06 8.99 6.25 11.22 11.89 11.43 9.36 9.18 8.70 8.71 5.42 9.22 8.93 7.94 6.56
Benchmarks
Payables Turnover, Competitors2
Amgen Inc. 5.32 5.22 5.67 4.97 4.08 5.30 5.09 4.65 4.72 5.41 4.92 4.40 4.33 5.01 4.60 3.60 3.18
Bristol-Myers Squibb Co. 3.28 3.75 3.38 3.20 3.33 3.82 3.41 3.25 3.37 3.89 2.97 3.69 4.34 4.65 3.73 3.23 3.30
Eli Lilly & Co. 2.73 2.81 2.65 3.07 3.43 4.24 4.21 5.24 4.38 4.46 4.30 3.75 3.41 3.53 3.92 3.97 3.36
Johnson & Johnson 2.76 3.71 3.08 3.22 2.66 3.08 3.15 3.26 2.70 3.32 3.38 3.34 2.99 3.94 4.09 3.78 3.23
Merck & Co. Inc. 4.11 4.59 4.58 4.34 4.08 5.16 4.86 4.25 2.96 4.54 3.93 3.81 3.37 3.64 4.10 4.02 3.78
Pfizer Inc. 3.72 5.07 3.92 4.78 5.04 5.49 6.17 6.66 5.53 5.11 3.72 2.68 2.02 2.02 2.32 2.45 2.42
Regeneron Pharmaceuticals Inc. 2.99 3.43 3.14 2.69 2.65 3.74 4.00 5.39 4.32 4.23 3.42 2.23 2.36 2.24 2.48 2.36 1.87
Thermo Fisher Scientific Inc. 8.97 10.41 10.82 9.35 7.67 9.93 8.84 7.96 6.83 8.31 8.88 8.12 7.45 8.82 10.35 8.93 7.40
Vertex Pharmaceuticals Inc. 3.46 3.13 3.16 3.41 3.55 8.23 5.01 5.52 4.64 6.73 6.35 5.99 4.75 6.66 6.54 6.11 6.25

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Payables turnover = (Cost of goods soldQ4 2023 + Cost of goods soldQ3 2023 + Cost of goods soldQ2 2023 + Cost of goods soldQ1 2023) ÷ Accounts payable
= (2,090 + 1,565 + 1,442 + 1,401) ÷ 550 = 11.81

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Gilead Sciences Inc. payables turnover ratio increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Working Capital Turnover

Gilead Sciences Inc., working capital turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Current assets 16,085 15,980 14,287 13,456 14,443 13,554 13,175 12,629 14,772 13,991 13,925 13,278 15,996 30,926 24,643 26,950 30,296 28,361 33,727 34,024
Less: Current liabilities 11,280 11,945 13,964 10,528 11,237 10,423 9,220 8,558 11,610 10,245 10,214 9,705 11,397 9,509 10,564 8,879 9,759 9,567 8,961 9,397
Working capital 4,805 4,035 323 2,928 3,206 3,131 3,955 4,071 3,162 3,746 3,711 3,573 4,599 21,417 14,079 18,071 20,537 18,794 24,766 24,627
 
Product sales 7,070 6,994 6,564 6,306 7,332 6,978 6,138 6,534 7,160 7,356 6,152 6,340 7,328 6,493 5,067 5,467 5,796 5,516 5,607 5,200
Short-term Activity Ratio
Working capital turnover1 5.61 6.74 84.15 9.14 8.42 8.56 6.87 6.68 8.54 7.25 7.09 7.06 5.30 1.07 1.55 1.24 1.08
Benchmarks
Working Capital Turnover, Competitors2
AbbVie Inc. 130.12 0.97 0.98
Amgen Inc. 2.25 0.81 0.84 0.82 3.82 2.52 3.67 4.34 3.37 2.55 5.35 2.84 2.55 1.87 1.87 3.27 3.96
Bristol-Myers Squibb Co. 4.60 10.47 5.53 5.55 8.30 5.75 4.92 6.24 3.95 4.43 4.24 4.25 3.72 2.77 3.09 2.38 2.28
Eli Lilly & Co. 31.79 12.21 5.77 31.84 14.71 19.45 8.19 8.33 6.73 12.14 5.21 4.93 5.45 8.85 16.68 11.54
Johnson & Johnson 11.81 10.21 15.28 23.98 4.88 5.02 5.57 5.95 5.97 5.93 7.26 9.44 4.32 8.83 7.85 8.81
Merck & Co. Inc. 9.29 6.69 8.86 5.63 5.16 5.58 6.39 6.09 7.62 6.51 6.97 84.97 109.83 7.67 6.59 17.87 8.90
Pfizer Inc. 1.60 2.01 6.88 11.00 3.83 5.05 6.10 4.78 4.29 4.21 3.60 4.58 3.16 3.31 57.45
Regeneron Pharmaceuticals Inc. 0.82 0.87 0.92 0.90 0.96 1.09 1.14 1.46 1.59 1.35 1.29 1.35 1.20 1.22 1.92 1.21 1.41
Thermo Fisher Scientific Inc. 4.05 4.86 7.40 10.13 5.46 5.40 6.03 6.13 5.87 2.30 3.10 3.36 2.76 2.37 2.69 3.54 4.48
Vertex Pharmaceuticals Inc. 0.93 0.87 0.90 0.93 0.85 0.90 0.93 0.97 1.02 1.03 1.01 0.97 0.99 1.10 1.10 1.23 1.19

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Working capital turnover = (Product salesQ4 2023 + Product salesQ3 2023 + Product salesQ2 2023 + Product salesQ1 2023) ÷ Working capital
= (7,070 + 6,994 + 6,564 + 6,306) ÷ 4,805 = 5.61

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Gilead Sciences Inc. working capital turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Average Inventory Processing Period

Gilead Sciences Inc., average inventory processing period calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Inventory turnover 3.64 3.49 3.45 3.57 3.75 4.71 4.50 4.50 4.08 3.21 2.99 2.79 2.72 4.82 4.52 4.75 5.07
Short-term Activity Ratio (no. days)
Average inventory processing period1 100 105 106 102 97 78 81 81 89 114 122 131 134 76 81 77 72
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
AbbVie Inc. 73 77 85 81 75 66 73 74 65 63 67 68 79 100 155 88 89
Amgen Inc. 411 259 265 279 281 272 260 247 231 239 239 239 231 247 265 279 300
Bristol-Myers Squibb Co. 91 84 83 93 84 76 79 80 77 75 73 65 64 63 82 104 194
Eli Lilly & Co. 298 261 267 268 237 196 204 189 194 204 203 217 265 257 247 236 247
Johnson & Johnson 154 132 146 147 147 136 136 132 127 128 125 128 120 126 124 116 119
Merck & Co. Inc. 144 139 137 134 124 118 119 133 159 134 131 152 149 164 156 148 155
Pfizer Inc. 149 138 158 119 95 101 100 99 107 131 203 284 338 405 348 316 296
Regeneron Pharmaceuticals Inc. 519 508 532 549 562 440 379 287 292 415 445 653 625 664 635 659 661
Thermo Fisher Scientific Inc. 72 76 79 79 79 85 91 94 94 94 91 91 91 93 93 88 87
Vertex Pharmaceuticals Inc. 214 213 192 177 156 136 135 129 143 142 145 142 139 125 121 111 112

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 3.64 = 100

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Gilead Sciences Inc. number of days of inventory outstanding improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Average Receivable Collection Period

Gilead Sciences Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Receivables turnover 5.78 5.68 6.43 6.43 5.65 6.16 6.60 7.18 6.01 5.95 6.34 6.43 4.98 5.83 6.84 5.73 6.18
Short-term Activity Ratio (no. days)
Average receivable collection period1 63 64 57 57 65 59 55 51 61 61 58 57 73 63 53 64 59
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
AbbVie Inc. 75 76 75 74 71 68 72 69 65 61 67 70 70 76 84 68 60
Amgen Inc. 99 88 84 84 82 79 79 76 74 71 68 67 68 63 85 80 67
Eli Lilly & Co. 97 93 93 99 88 84 80 79 86 78 80 80 87 77 77 81 74
Johnson & Johnson 64 57 63 62 62 60 62 60 59 60 61 65 60 66 66 66 64
Merck & Co. Inc. 63 64 69 66 58 59 62 66 69 66 61 65 60 65 59 62 53
Pfizer Inc. 70 59 48 48 40 59 55 52 52 63 70 78 69 85 74 74 62
Regeneron Pharmaceuticals Inc. 158 156 148 151 160 148 132 107 137 147 206 166 177 179 128 134 124
Thermo Fisher Scientific Inc. 70 70 67 66 66 63 66 70 74 52 52 56 65 66 62 64 62
Vertex Pharmaceuticals Inc. 58 58 60 61 59 58 58 59 55 56 51 56 52 48 53 64 56

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 5.78 = 63

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Gilead Sciences Inc. number of days of receivables outstanding deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023.

Operating Cycle

Gilead Sciences Inc., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Average inventory processing period 100 105 106 102 97 78 81 81 89 114 122 131 134 76 81 77 72
Average receivable collection period 63 64 57 57 65 59 55 51 61 61 58 57 73 63 53 64 59
Short-term Activity Ratio
Operating cycle1 163 169 163 159 162 137 136 132 150 175 180 188 207 139 134 141 131
Benchmarks
Operating Cycle, Competitors2
AbbVie Inc. 148 153 160 155 146 134 145 143 130 124 134 138 149 176 239 156 149
Amgen Inc. 510 347 349 363 363 351 339 323 305 310 307 306 299 310 350 359 367
Eli Lilly & Co. 395 354 360 367 325 280 284 268 280 282 283 297 352 334 324 317 321
Johnson & Johnson 218 189 209 209 209 196 198 192 186 188 186 193 180 192 190 182 183
Merck & Co. Inc. 207 203 206 200 182 177 181 199 228 200 192 217 209 229 215 210 208
Pfizer Inc. 219 197 206 167 135 160 155 151 159 194 273 362 407 490 422 390 358
Regeneron Pharmaceuticals Inc. 677 664 680 700 722 588 511 394 429 562 651 819 802 843 763 793 785
Thermo Fisher Scientific Inc. 142 146 146 145 145 148 157 164 168 146 143 147 156 159 155 152 149
Vertex Pharmaceuticals Inc. 272 271 252 238 215 194 193 188 198 198 196 198 191 173 174 175 168

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 100 + 63 = 163

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period.

Average Payables Payment Period

Gilead Sciences Inc., average payables payment period calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Payables turnover 11.81 9.90 9.06 8.99 6.25 11.22 11.89 11.43 9.36 9.18 8.70 8.71 5.42 9.22 8.93 7.94 6.56
Short-term Activity Ratio (no. days)
Average payables payment period1 31 37 40 41 58 33 31 32 39 40 42 42 67 40 41 46 56
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Amgen Inc. 69 70 64 73 90 69 72 78 77 67 74 83 84 73 79 101 115
Bristol-Myers Squibb Co. 111 97 108 114 109 96 107 112 108 94 123 99 84 78 98 113 110
Eli Lilly & Co. 134 130 138 119 106 86 87 70 83 82 85 97 107 103 93 92 109
Johnson & Johnson 132 98 118 113 137 118 116 112 135 110 108 109 122 93 89 97 113
Merck & Co. Inc. 89 80 80 84 89 71 75 86 123 80 93 96 108 100 89 91 97
Pfizer Inc. 98 72 93 76 72 66 59 55 66 71 98 136 181 180 157 149 151
Regeneron Pharmaceuticals Inc. 122 106 116 136 138 98 91 68 84 86 107 164 155 163 147 155 195
Thermo Fisher Scientific Inc. 41 35 34 39 48 37 41 46 53 44 41 45 49 41 35 41 49
Vertex Pharmaceuticals Inc. 106 117 115 107 103 44 73 66 79 54 57 61 77 55 56 60 58

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 11.81 = 31

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Gilead Sciences Inc. number of days of payables outstanding decreased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Cash Conversion Cycle

Gilead Sciences Inc., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Average inventory processing period 100 105 106 102 97 78 81 81 89 114 122 131 134 76 81 77 72
Average receivable collection period 63 64 57 57 65 59 55 51 61 61 58 57 73 63 53 64 59
Average payables payment period 31 37 40 41 58 33 31 32 39 40 42 42 67 40 41 46 56
Short-term Activity Ratio
Cash conversion cycle1 132 132 123 118 104 104 105 100 111 135 138 146 140 99 93 95 75
Benchmarks
Cash Conversion Cycle, Competitors2
Amgen Inc. 441 277 285 290 273 282 267 245 228 243 233 223 215 237 271 258 252
Eli Lilly & Co. 261 224 222 248 219 194 197 198 197 200 198 200 245 231 231 225 212
Johnson & Johnson 86 91 91 96 72 78 82 80 51 78 78 84 58 99 101 85 70
Merck & Co. Inc. 118 123 126 116 93 106 106 113 105 120 99 121 101 129 126 119 111
Pfizer Inc. 121 125 113 91 63 94 96 96 93 123 175 226 226 310 265 241 207
Regeneron Pharmaceuticals Inc. 555 558 564 564 584 490 420 326 345 476 544 655 647 680 616 638 590
Thermo Fisher Scientific Inc. 101 111 112 106 97 111 116 118 115 102 102 102 107 118 120 111 100
Vertex Pharmaceuticals Inc. 166 154 137 131 112 150 120 122 119 144 139 137 114 118 118 115 110

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 100 + 6331 = 132

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.