Gilead Sciences (BUE:GILD) Operating Income : ARS2,562,189 Mil (TTM As of Dec. 2023)

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What is Gilead Sciences Operating Income?

Gilead Sciences's Operating Income for the three months ended in Dec. 2023 was ARS724,888 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was ARS2,562,189 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Gilead Sciences's Operating Income for the three months ended in Dec. 2023 was ARS724,888 Mil. Gilead Sciences's Revenue for the three months ended in Dec. 2023 was ARS2,568,154 Mil. Therefore, Gilead Sciences's Operating Margin % for the quarter that ended in Dec. 2023 was 28.23%.

Warning Sign:

Gilead Sciences Inc operating margin has been in a 5-year decline. The average rate of decline per year is -3.9%.

Gilead Sciences's 5-Year average Growth Rate for Operating Margin % was -3.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Gilead Sciences's annualized ROC % for the quarter that ended in Dec. 2023 was 13.47%. Gilead Sciences's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 142.18%.

Gilead Sciences Operating Income Historical Data

The historical data trend for Gilead Sciences's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Gilead Sciences Operating Income Chart

Gilead Sciences Annual Data

Trend

Dec14

Dec15

Dec16

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Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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558,165.88

807,859.23

1,096,448.41

1,839,791.05

3,180,410.00

Gilead Sciences Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															859,206.23	431,646.76	456,240.00	949,414.38	724,888.00

Gilead Sciences Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was ARS2,562,189 Mil.

Gilead Sciences (BUE:GILD) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Gilead Sciences's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	2899552.004 * ( 1 - 14.34% )	/	( (18180602.9	+	18685360.017)	/ 2 )
=	2483756.2466264	/	18432981.4585
=	13.47 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	21827431.951	-	2234780.762	-	( 2402056.866	-	max(0, 4180152.865	-	5592201.154	+	2402056.866	))
=	18180602.9

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	22427125.02	-	2007160.002	-	( 2622304.002	-	max(0, 4072080.004	-	5806685.005	+	2622304.002	))
=	18685360.017

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Gilead Sciences's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	2750820.004	/	( ( (1949921.454 + max(-362548.21, 0))	+	(1919437.002 + max(-238621, 0)) )	/	2 )
=	2750820.004	/	( ( 1949921.454	+	1919437.002 )	/	2 )
=	2750820.004	/	1934679.228
=	142.18 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1676260.546	+	581966.866	+	931916.876)	-	(2234780.762	+	0	+	1317911.736)
=	-362548.21

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1682260.002	+	645107.001	+	857014)	-	(2007160.002	+	0	+	1415842.001)
=	-238621

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Gilead Sciences's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	724888.001	/	2568154.002
	=	28.23 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Gilead Sciences Operating Income Related Terms

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Gilead Sciences (BUE:GILD) Business Description

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Address

333 Lakeside Drive, Foster, CA, USA, 94404

Website

https://www.gilead.com

Gilead Sciences develops and markets therapies to treat life-threatening infectious diseases, with the core of its portfolio focused on HIV and hepatitis B and C. The acquisitions of Corus Pharma, Myogen, CV Therapeutics, Arresto Biosciences, and Calistoga have broadened this focus to include pulmonary and cardiovascular diseases and cancer. Gilead's acquisition of Pharmasset brought rights to hepatitis C drug Sovaldi, which is also part of combination drug Harvoni, and the Kite, Forty Seven, and Immunomedics acquisitions boost Gilead's exposure to cell therapy and noncell therapy in oncology.