GILD · 8-K · 20260804PR000028
Liquidity and Cash Position
GILEAD SCIENCES, INC. · 2026-08-04 · Importance 64 · Surprise 42 · Contradicted
Cash, cash equivalents and marketable debt securities declined to $3.179 billion at June 30, 2026 from $10.605 billion at December 31, 2025. Year-to-date cash outflows included $11.3 billion for acquisitions, $2.8 billion of debt repayments, $2.1 billion of dividend payments and $774 million of common-stock repurchases. These outflows were partly offset by $4.1 billion of net debt-financing proceeds and $6.1 billion of operating cash flow. Second-quarter operating cash flow was $3.573 billion, and six-month free cash flow was $5.859 billion after $257 million of property, plant and equipment purchases.
Key facts
- Decrease in cash position primarily driven by year-to-date cash outflows of $11.3 billion related to acquisitions, $2.8 billion of debt repayments, $2.1 billion of dividend payments and $774 million of common stock repurchases, partially offset by $4.1 billion of net proceeds from debt financing and $6.1 billion of operating cash flow source
- Cash, cash equivalents and marketable debt securities as of June 30, 2026: $3,179 million compared to $10,605 million as of December 31, 2025 source
- Total assets as of June 30, 2026: $49,362 million compared to $59,023 million as of December 31, 2025 source
- Net cash provided by operating activities for the three months ended June 30, 2026: $3,573 million compared to $827 million for the three months ended June 30, 2025 source
- Free cash flow for the three months ended June 30, 2026: $3,432 million compared to $720 million in the three months ended June 30, 2025 source
- Gilead generated $3,573 million in operating cash flow during the second quarter 2026 source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | negative | realized | -19.6% | Total assets as of June 30, 2026: $49,362 million compared to $59,023 million as of December 31, 2025 |
| cash | negative | realized | -15.1% | Cash, cash equivalents and marketable debt securities as of June 30, 2026: $3,179 million compared to $10,605 million as of December 31,… |
| cash | positive | realized | +12.4% | Decrease in cash position primarily driven by year-to-date cash outflows of $11.3 billion related to acquisitions, $2.8 billion of debt… |
| cash | positive | realized | +8.3% | Decrease in cash position primarily driven by year-to-date cash outflows of $11.3 billion related to acquisitions, $2.8 billion of debt… |
| cash | negative | realized | -5.7% | Decrease in cash position primarily driven by year-to-date cash outflows of $11.3 billion related to acquisitions, $2.8 billion of debt… |
| cash | positive | realized | +5.6% | Net cash provided by operating activities for the three months ended June 30, 2026: $3,573 million compared to $827 million for the three… |
| cash | negative | realized | -4.3% | Decrease in cash position primarily driven by year-to-date cash outflows of $11.3 billion related to acquisitions, $2.8 billion of debt… |
| cash | negative | realized | -1.6% | Decrease in cash position primarily driven by year-to-date cash outflows of $11.3 billion related to acquisitions, $2.8 billion of debt… |