Gilead Sciences

Return on equity 29.31%, ROA 9.60%, ROIC 16.52%. Net income up ▲ +23.4% YoY. Debt/equity 0.94, current ratio 1.97, net debt $16.76B.

• Return on equity 29.31%, ROA 9.60%, ROIC 16.52%.
• Net income up ▲ +23.4% YoY.
• Debt/equity 0.94, current ratio 1.97, net debt $16.76B.

Latest annual report (10-K) filed Feb 24, 2026. Latest quarterly report (10-Q) filed May 7, 2026. 7 recent 8-K material-event filings in the index.

• Latest annual report (10-K) filed Feb 24, 2026.
• Latest quarterly report (10-Q) filed May 7, 2026.
• 7 recent 8-K material-event filings in the index.
• Recent insider Form 4s: 0 buy vs 0 sell transactions.

2 risk signal(s), 3 positive signal(s), 1 watch item(s) detected from XBRL filing diff analysis. Revenue grew -15.2% but receivables grew -5.2% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.

• Receivables outpacing revenue: Accounts receivable grew -5.2% YoY vs revenue growth of -15.2%. The +10.1% spread suggests extended credit terms, channel stuffing risk, or collection deterioration. Investigate the allowance for doubtful accounts and DSO trend.
• Earnings-cash flow divergence: Net income grew +23.4% while operating cash flow declined -11.8%. This divergence may indicate accrual-based earnings inflation — non-cash gains, aggressive revenue recognition, or working capital absorption. The accrual ratio (NI − OCF) is deteriorating.
• Operating cash flow exceeds net income: OCF is 1.41x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
• Gross margin expansion: Gross margin expanded +3.9%pp (from 15.3% to 19.2%), indicating improved pricing power, cost efficiency, or favorable product mix.
• Deferred revenue growing — future revenue visibility: Deferred revenue grew +228.4% to $440.0M, providing forward revenue visibility. This is a positive leading indicator for subscription or contract-based businesses.
• R&D intensity declining: R&D as % of revenue fell from 19.5% to 16.9%. This may signal reduced innovation investment — potentially impacting long-term competitive position. Compare with peer R&D trends.
• Endogenous analysis: Revenue grew -15.2% but receivables grew -5.2% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
• Endogenous analysis: Strong cash conversion (OCF > NI) combined with growing deferred revenue provides high forward visibility. The business model appears to generate sustainable, recurring cash flows — a positive structural indicator.
• 2 new XBRL disclosure(s) in latest filing — expanding reporting scope.
• 20 disclosure(s) dropped from prior year — reduced reporting granularity.