Gilead Sciences (GILD) 10-K Summary — Year Ended Dec 31, 2023
Gilead Sciences filed its annual report for the most recent fiscal year. The company reported a slight decline in revenue compared to the prior year, and operating cash flow decreased due to higher tax payments and litigation settlements.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Gilead Sciences filed its annual report for the most recent fiscal year. The company reported a slight decline in revenue compared to the prior year, and operating cash flow decreased due to higher tax payments and litigation settlements.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$27.1B
Revenue reported for the fiscal year.
Operating income
$7.6B
Income from operations reported for the year.
Net income
$5.7B
Net income reported for the year.
Operating cash flow
$8B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $27.3B | n/a |
| Dec 31, 2022 | $27.3B | -0.1% |
| Dec 31, 2023 | $27.1B | -0.6% |
Business overview
The supplied filing sections do not contain a description of the company's business. No business overview or operational details are provided in the excerpts.
Financial performance
Revenue for the year was slightly lower than the prior year. Operating income, net income, and operating cash flow were all reported at positive levels.
Material risks
The filing discusses litigation-related payments, including settlements for HIV antitrust and bictegravir matters, which represent material risks. No other specific risk factors are detailed in the supplied sections.
Liquidity and capital
Cash and cash equivalents increased from the prior year-end. Operating cash flow declined primarily because of higher income tax payments and litigation settlement outflows, partly offset by the absence of a large settlement payment made in the previous year. Investing and financing cash outflows both decreased.
What to watch
The development and impact of ongoing HIV antitrust litigation on cash flows and operations.