| Intrinsic Valuation of: GILD | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 5 | Market Cap | $139B | |||||
| 2021 | - | - (-) | P/E Ratio | 23 | Total Asset | $59B | |||||
| 2022 | $11B | - (-) | Net Income | $480M | Total Debt | $25B | |||||
| 2023 | $8B | -22.8% (-22.7%) | EBITDA | $4B | Total Liab | $40B | |||||
| 2024 | $7B | -11.1% (-10.5%) | Opr Margin | 0.37 | Debt/Equity | 1.29 | |||||
| 2025 | $10B | 38.9% (31.0%) | PreTax Margin | 33.14 | BV/Share | -7 | |||||
| 5Y Average FCF | $9B | 1.7% (-0.7%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.5% | Historical US Bond Yield: | 4.4% | ||||||||
| Discount Rate (WACC): | 7.4% | Current US Bond Yield: | 3.5% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (4.0%) | ||||||||||
| 2026 | $11B | MBG Intrinsic Value | $43 | ||||||||
| 2027 | $11B | ||||||||||
| 2028 | $12B | ||||||||||
| 2029 | $12B | ||||||||||
| 2030 | $13B | ||||||||||
| 2031 | $13B | ||||||||||
| Terminal Value | $271B | Net Worth/Share | $15 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $232B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $10B | $174 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $25B | WACC | 7.3% | 152 | 164 | 178 | 196 | 218 | |||
| Equity Value | $217B | 7.4% | 151 | 162 | 176 | 193 | 215 | ||||
| Shares Outstanding | 1,243,929,984 | 7.4% | 149 | 161 | 174 | 191 | 212 | ||||
| 7.9% | 136 | 146 | 157 | 170 | 187 | ||||||
| DCF Intrinsic Value | $174 | 8.4% | 126 | 133 | 143 | 153 | 166 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||