Annual Income Statements for GSK
This table shows GSK's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for GSK
No quarterly income statements for GSK are available.
Annual Cash Flow Statements for GSK
This table details how cash moves in and out of GSK's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
| Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
| Net Change in Cash & Equivalents |
|
12,796 |
-1,436 |
-1,223 |
610 |
1,095 |
-10,781 |
-14,351 |
-659 |
-596 |
750 |
163 |
| Net Cash From Operating Activities |
|
12,796 |
8,016 |
9,345 |
10,728 |
10,627 |
6,551 |
-4,821 |
8,941 |
8,624 |
8,206 |
10,653 |
| Net Cash From Continuing Operating Activities |
|
12,796 |
8,016 |
9,345 |
10,728 |
10,627 |
6,551 |
-4,821 |
8,012 |
8,624 |
8,206 |
10,653 |
| Net Income / (Loss) Continuing Operations |
|
12,796 |
1,310 |
2,930 |
5,155 |
6,981 |
0.00 |
0.00 |
5,943 |
6,764 |
3,695 |
0.00 |
| Non-Cash Adjustments To Reconcile Net Income |
|
- |
8,691 |
8,226 |
7,263 |
5,650 |
5,909 |
-2,912 |
3,651 |
3,553 |
6,148 |
10,891 |
| Changes in Operating Assets and Liabilities, net |
|
- |
-1,985 |
-1,810 |
-1,689 |
-2,004 |
642 |
-1,909 |
-1,582 |
-1,692 |
-1,636 |
-238 |
| Net Cash From Investing Activities |
|
0.00 |
-1,566 |
-1,949 |
-1,978 |
-7,094 |
-1,284 |
-1,104 |
-10,594 |
-2,033 |
-1,539 |
-4,056 |
| Net Cash From Continuing Investing Activities |
|
0.00 |
-1,462 |
-1,934 |
-1,978 |
-2,487 |
-1,284 |
-1,104 |
-6,016 |
-2,391 |
-1,560 |
-4,056 |
| Purchase of Property, Plant & Equipment |
|
- |
-2,059 |
-2,975 |
-1,712 |
-2,866 |
-1,351 |
-1,283 |
-2,727 |
-2,987 |
-3,734 |
-1,813 |
| Acquisitions |
|
- |
21 |
0.00 |
-13 |
- |
0.00 |
0.00 |
-3,754 |
-1,857 |
-1,008 |
-2,275 |
| Sale of Property, Plant & Equipment |
|
- |
470 |
444 |
540 |
661 |
67 |
178 |
413 |
51 |
245 |
32 |
| Net Cash From Financing Activities |
|
0.00 |
-7,887 |
-8,619 |
-8,139 |
-2,438 |
-16,048 |
-8,425 |
994 |
-7,188 |
-5,917 |
-6,434 |
| Net Cash From Continuing Financing Activities |
|
0.00 |
-9,045 |
-7,730 |
-8,243 |
-6,539 |
-16,048 |
-8,425 |
-11,172 |
-6,239 |
-4,613 |
-6,434 |
| Repayment of Debt |
|
- |
-1,993 |
-4,647 |
-3,645 |
-6,982 |
-5,105 |
-3,110 |
-9,321 |
-4,107 |
-3,096 |
-811 |
| Repurchase of Common Equity |
|
- |
- |
- |
- |
- |
- |
- |
- |
0.00 |
0.00 |
-1,852 |
| Payment of Dividends |
|
- |
-6,643 |
-6,329 |
-5,729 |
-5,720 |
-6,035 |
-5,721 |
-4,187 |
-2,863 |
-3,060 |
-3,947 |
| Issuance of Debt |
|
- |
0.00 |
3,017 |
12,916 |
6,352 |
-4,908 |
406 |
1,238 |
284 |
1,346 |
175 |
| Cash Interest Paid |
|
- |
- |
- |
- |
- |
1,162 |
1,042 |
- |
- |
- |
913 |
| Cash Interest Received |
|
- |
- |
- |
- |
- |
37 |
19 |
- |
- |
- |
207 |
Quarterly Cash Flow Statements for GSK
No quarterly cash flow statements for GSK are available.
Annual Balance Sheets for GSK
This table presents GSK's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
| Metric |
|
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
| Total Assets |
|
72,888 |
76,165 |
73,975 |
105,598 |
109,845 |
106,789 |
72,638 |
75,190 |
74,454 |
82,185 |
| Total Current Assets |
|
20,616 |
21,489 |
21,565 |
25,827 |
27,652 |
25,210 |
25,083 |
23,758 |
21,282 |
23,546 |
| Cash & Equivalents |
|
6,041 |
5,178 |
4,935 |
6,237 |
8,593 |
5,770 |
4,496 |
3,741 |
4,846 |
4,568 |
| Short-Term Investments |
|
- |
92 |
240 |
558 |
208 |
254 |
229 |
166 |
136 |
163 |
| Accounts Receivable |
|
7,434 |
8,105 |
8,183 |
9,543 |
9,494 |
10,611 |
8,518 |
9,411 |
8,559 |
10,046 |
| Inventories, net |
|
6,294 |
7,507 |
6,976 |
9,037 |
8,334 |
7,807 |
6,215 |
7,103 |
7,098 |
8,369 |
| Current Deferred & Refundable Income Taxes |
|
279 |
349 |
292 |
347 |
916 |
656 |
489 |
475 |
612 |
387 |
| Plant, Property, & Equipment, net |
|
12,288 |
14,671 |
14,088 |
13,712 |
13,897 |
13,408 |
10,788 |
11,494 |
11,553 |
12,535 |
| Plant, Property & Equipment, gross |
|
12,288 |
14,671 |
14,088 |
13,712 |
13,897 |
13,408 |
10,788 |
11,494 |
11,553 |
12,535 |
| Total Noncurrent Assets |
|
45,628 |
40,005 |
39,687 |
66,059 |
68,296 |
68,171 |
36,767 |
39,938 |
41,619 |
46,104 |
| Long-Term Investments |
|
1,649 |
1,487 |
1,985 |
2,850 |
4,676 |
2,989 |
1,861 |
1,519 |
1,498 |
1,514 |
| Goodwill |
|
7,359 |
7,746 |
7,375 |
13,995 |
14,472 |
14,245 |
8,509 |
8,679 |
8,742 |
9,437 |
| Intangible Assets |
|
23,164 |
23,724 |
21,915 |
41,018 |
40,731 |
40,607 |
17,292 |
18,819 |
19,426 |
22,521 |
| Noncurrent Deferred & Refundable Income Taxes |
|
5,396 |
5,128 |
4,952 |
5,428 |
5,855 |
7,044 |
6,833 |
7,708 |
8,460 |
8,767 |
| Other Noncurrent Operating Assets |
|
7,795 |
1,920 |
3,460 |
2,768 |
2,562 |
3,286 |
2,272 |
3,213 |
3,492 |
3,865 |
| Total Liabilities & Shareholders' Equity |
|
77,965 |
67,827 |
73,975 |
105,598 |
109,845 |
106,789 |
72,638 |
66,701 |
65,338 |
72,945 |
| Total Liabilities |
|
66,765 |
71,451 |
69,297 |
81,274 |
81,428 |
77,977 |
60,445 |
58,885 |
58,069 |
60,729 |
| Total Current Liabilities |
|
21,703 |
35,892 |
28,653 |
31,868 |
30,248 |
31,955 |
27,548 |
26,847 |
27,167 |
28,764 |
| Short-Term Debt |
|
5,094 |
3,816 |
8,446 |
9,167 |
5,087 |
4,861 |
4,773 |
3,585 |
2,941 |
4,050 |
| Accounts Payable |
|
14,760 |
28,328 |
18,815 |
19,795 |
21,633 |
23,698 |
19,641 |
21,138 |
19,201 |
21,944 |
| Current Deferred & Payable Income Tax Liabilities |
|
1,610 |
1,344 |
- |
833 |
744 |
660 |
569 |
- |
880 |
670 |
| Other Current Liabilities |
|
239 |
950 |
162 |
2,072 |
2,783 |
2,735 |
2,565 |
145 |
2,677 |
101 |
| Total Noncurrent Liabilities |
|
47,660 |
35,559 |
40,644 |
49,406 |
51,180 |
46,023 |
32,898 |
32,038 |
30,902 |
31,965 |
| Long-Term Debt |
|
18,087 |
19,269 |
32,767 |
31,259 |
31,992 |
27,774 |
20,573 |
19,376 |
18,327 |
19,778 |
| Noncurrent Deferred & Payable Income Tax Liabilities |
|
2,386 |
2,441 |
1,819 |
5,299 |
5,157 |
5,044 |
502 |
492 |
478 |
391 |
| Noncurrent Employee Benefit Liabilities |
|
5,046 |
4,781 |
3,981 |
4,581 |
4,985 |
4,203 |
3,115 |
2,982 |
2,334 |
2,269 |
| Other Noncurrent Operating Liabilities |
|
22,141 |
2,184 |
2,077 |
8,267 |
9,046 |
9,003 |
8,708 |
2,041 |
2,115 |
2,286 |
| Total Equity & Noncontrolling Interests |
|
8,601 |
4,713 |
4,678 |
24,324 |
28,418 |
28,812 |
12,193 |
16,305 |
16,385 |
21,456 |
| Total Preferred & Common Equity |
|
3,865 |
-92 |
4,817 |
39,437 |
28,418 |
20,324 |
12,799 |
17,008 |
17,117 |
22,022 |
| Preferred Stock |
|
- |
4,078 |
3,938 |
4,206 |
4,481 |
4,456 |
4,154 |
4,398 |
4,349 |
4,704 |
| Total Common Equity |
|
3,865 |
-4,170 |
879 |
10,907 |
15,441 |
15,868 |
8,645 |
12,610 |
12,769 |
17,318 |
| Common Stock |
|
1,656 |
1,814 |
1,714 |
1,784 |
1,838 |
1,818 |
1,627 |
1,718 |
1,688 |
1,814 |
| Retained Earnings |
|
-6,652 |
-8,750 |
-3,460 |
6,003 |
9,225 |
10,724 |
5,269 |
9,225 |
9,761 |
13,728 |
| Other Equity Adjustments |
|
8,862 |
2,765 |
2,626 |
3,121 |
4,377 |
3,325 |
1,749 |
1,668 |
1,320 |
1,776 |
| Noncontrolling Interest |
|
4,736 |
4,805 |
-139 |
9,212 |
8,496 |
8,487 |
-606 |
-703 |
-732 |
-566 |
Quarterly Balance Sheets for GSK
This table presents GSK's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
| Metric |
Q4 2022 |
Q4 2023 |
Q4 2024 |
| Total Assets |
72,638 |
75,190 |
74,454 |
| Total Current Assets |
25,083 |
23,758 |
21,282 |
| Cash & Equivalents |
4,496 |
3,741 |
4,846 |
| Short-Term Investments |
229 |
166 |
136 |
| Accounts Receivable |
8,518 |
9,411 |
8,559 |
| Inventories, net |
6,215 |
7,103 |
7,098 |
| Current Deferred & Refundable Income Taxes |
489 |
475 |
612 |
| Plant, Property, & Equipment, net |
10,788 |
11,494 |
11,553 |
| Plant, Property & Equipment, gross |
10,788 |
11,494 |
11,553 |
| Total Noncurrent Assets |
36,767 |
39,938 |
41,619 |
| Long-Term Investments |
1,861 |
1,519 |
1,498 |
| Goodwill |
8,509 |
8,679 |
8,742 |
| Intangible Assets |
17,292 |
18,819 |
19,426 |
| Noncurrent Deferred & Refundable Income Taxes |
6,833 |
7,708 |
8,460 |
| Other Noncurrent Operating Assets |
2,272 |
3,213 |
3,492 |
| Total Liabilities & Shareholders' Equity |
72,638 |
66,701 |
65,338 |
| Total Liabilities |
60,445 |
58,885 |
58,069 |
| Total Current Liabilities |
27,548 |
26,847 |
27,167 |
| Short-Term Debt |
4,773 |
3,585 |
2,941 |
| Accounts Payable |
19,641 |
21,138 |
19,201 |
| Current Deferred & Payable Income Tax Liabilities |
569 |
- |
880 |
| Other Current Liabilities |
2,565 |
145 |
2,677 |
| Total Noncurrent Liabilities |
32,898 |
32,038 |
30,902 |
| Long-Term Debt |
20,573 |
19,376 |
18,327 |
| Noncurrent Deferred & Payable Income Tax Liabilities |
502 |
492 |
478 |
| Noncurrent Employee Benefit Liabilities |
3,115 |
2,982 |
2,334 |
| Other Noncurrent Operating Liabilities |
8,708 |
2,041 |
2,115 |
| Total Equity & Noncontrolling Interests |
12,193 |
16,305 |
16,385 |
| Total Preferred & Common Equity |
12,799 |
17,008 |
17,117 |
| Preferred Stock |
4,154 |
4,398 |
4,349 |
| Total Common Equity |
8,645 |
12,610 |
12,769 |
| Common Stock |
1,627 |
1,718 |
1,688 |
| Retained Earnings |
5,269 |
9,225 |
9,761 |
| Other Equity Adjustments |
1,749 |
1,668 |
1,320 |
| Noncontrolling Interest |
-606 |
-703 |
-732 |
Annual Metrics And Ratios for GSK
This table displays calculated financial ratios and metrics derived from GSK's official financial filings.
| Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
| DEI Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
4,315,445,026.00 |
| DEI Adjusted Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
4,315,445,026.00 |
| DEI Earnings Per Adjusted Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
1.78 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Net Operating Profit after Tax (NOPAT) |
|
-19,551 |
1,756 |
3,397 |
5,888 |
7,811 |
8,060 |
5,746 |
6,793 |
7,524 |
4,273 |
9,064 |
| Return On Investment Capital (ROIC_SIMPLE) |
|
- |
- |
- |
- |
- |
- |
- |
18.10% |
19.16% |
11.35% |
20.01% |
| Earnings before Interest and Taxes (EBIT) |
|
-19,551 |
3,703 |
6,147 |
7,409 |
9,787 |
8,649 |
6,489 |
8,682 |
9,803 |
5,831 |
11,849 |
| Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
-19,551 |
3,703 |
6,147 |
7,409 |
9,787 |
8,649 |
6,489 |
8,682 |
9,803 |
5,831 |
11,849 |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Free Cash Flow to Firm (FCFF) |
|
0.00 |
-22,071 |
-1,897 |
3,028 |
-15,209 |
11,146 |
5,338 |
33,298 |
-6,126 |
3,481 |
1,054 |
| Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Invested Capital |
|
0.00 |
23,826 |
29,121 |
31,981 |
55,000 |
51,913 |
52,322 |
25,817 |
39,466 |
40,259 |
48,268 |
| Increase / (Decrease) in Invested Capital |
|
0.00 |
23,826 |
5,295 |
2,860 |
23,019 |
-3,087 |
409 |
-26,505 |
13,649 |
792 |
8,009 |
| Book Value per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.16 |
$2.03 |
$2.87 |
$2.95 |
$1.60 |
$2.92 |
$2.96 |
$4.01 |
| Tangible Book Value per Share |
|
$0.00 |
$0.00 |
$0.00 |
($5.29) |
($8.20) |
($7.39) |
($7.24) |
($3.18) |
($3.45) |
($3.57) |
($3.39) |
| Total Capital |
|
0.00 |
31,783 |
27,799 |
37,883 |
64,750 |
65,497 |
61,447 |
37,539 |
39,265 |
37,653 |
45,284 |
| Total Debt |
|
0.00 |
23,181 |
23,085 |
33,205 |
40,426 |
37,079 |
32,635 |
25,346 |
22,960 |
21,268 |
23,828 |
| Total Long-Term Debt |
|
0.00 |
18,087 |
19,269 |
25,825 |
31,259 |
31,992 |
27,774 |
20,573 |
19,376 |
18,327 |
19,778 |
| Net Debt |
|
0.00 |
15,490 |
16,328 |
26,045 |
30,780 |
23,602 |
23,622 |
18,759 |
17,534 |
14,789 |
17,583 |
| Capital Expenditures (CapEx) |
|
0.00 |
1,589 |
2,530 |
1,172 |
2,205 |
1,284 |
1,104 |
2,314 |
2,936 |
3,488 |
1,780 |
| Debt-free, Cash-free Net Working Capital (DFCFNWC) |
|
0.00 |
-2,034 |
-15,857 |
-4,883 |
-3,669 |
-6,310 |
-7,907 |
-2,418 |
-3,411 |
-7,926 |
-5,899 |
| Debt-free Net Working Capital (DFNWC) |
|
0.00 |
4,007 |
-10,587 |
292 |
3,126 |
2,491 |
-1,883 |
2,308 |
496 |
-2,944 |
-1,169 |
| Net Working Capital (NWC) |
|
0.00 |
-1,087 |
-14,403 |
-7,088 |
-6,041 |
-2,596 |
-6,745 |
-2,465 |
-3,089 |
-5,885 |
-5,219 |
| Net Nonoperating Expense (NNE) |
|
-32,347 |
445 |
467 |
733 |
830 |
-664 |
-1,133 |
-12,072 |
760 |
578 |
607 |
| Net Nonoperating Obligations (NNO) |
|
0.00 |
15,225 |
24,408 |
27,303 |
30,676 |
23,496 |
23,510 |
13,624 |
23,162 |
23,874 |
26,812 |
| Total Depreciation and Amortization (D&A) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Adjusted Basic Earnings per Share |
|
$0.00 |
$0.00 |
$0.41 |
$0.75 |
$0.95 |
$1.17 |
$0.00 |
$4.49 |
$1.22 |
$1.58 |
$1.90 |
| Adjusted Weighted Average Basic Shares Outstanding |
|
0.00 |
0.00 |
0.00 |
5.29B |
5.30B |
5.30B |
0.00 |
4.31B |
4.31B |
4.31B |
4.32B |
| Adjusted Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.41 |
$0.74 |
$0.94 |
$1.16 |
$0.00 |
$10.67 |
$1.20 |
$1.56 |
$1.87 |
| Adjusted Weighted Average Diluted Shares Outstanding |
|
0.00 |
0.00 |
0.00 |
5.29B |
5.30B |
5.30B |
0.00 |
4.31B |
4.31B |
4.31B |
4.32B |
| Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
| Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
0.00 |
0.00 |
0.00 |
5.29B |
5.30B |
5.30B |
0.00 |
4.31B |
4.31B |
4.31B |
4.32B |
| Normalized Net Operating Profit after Tax (NOPAT) |
|
-13,686 |
1,756 |
3,397 |
5,888 |
7,811 |
8,060 |
5,746 |
6,793 |
7,522 |
4,267 |
9,064 |
| Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Quarterly Metrics And Ratios for GSK
No quarterly metrics and ratios for GSK are available.
Key Financial Trends
GSK’s balance sheet shows a company with solid liquidity but also meaningful leverage and a very large base of intangible assets tied to prior acquisitions. Over the last three years, the overall picture is one of steady asset stability, improving equity, and modestly better cash positioning, while debt remains an important item for investors to watch.
- Cash increased in 2024 to about $4.85 billion, up from $3.74 billion in 2023 and $4.50 billion in 2022, which improves near-term flexibility.
- Total common equity rose to about $12.77 billion in 2024 from $12.61 billion in 2023 and $8.64 billion in 2022, showing a stronger equity base than two years ago.
- Retained earnings improved materially over the period, increasing to about $9.76 billion in 2024 from $9.22 billion in 2023 and $5.27 billion in 2022, suggesting cumulative profitability has strengthened.
- Total equity and noncontrolling interests edged higher in 2024 to about $16.38 billion versus $16.30 billion in 2023 and $12.19 billion in 2022.
- Current assets remain large at about $21.28 billion, supported by cash, receivables, and inventories, which helps cover day-to-day operating needs.
- Total assets were broadly stable across the period, at about $74.45 billion in 2024 versus $75.19 billion in 2023 and $72.64 billion in 2022.
- Inventory levels stayed steady around $7.1 billion in 2023 and 2024, after rising from about $6.21 billion in 2022.
- PP&E remains relatively stable near $11.5 billion, indicating ongoing maintenance and investment in the operating base without major asset expansion.
- Total liabilities remain high at about $58.07 billion, which continues to limit financial flexibility relative to equity.
- Long-term debt is still substantial at about $18.33 billion in 2024, even though it declined from $19.38 billion in 2023 and $20.57 billion in 2022.
One important strength is that GSK appears to have improved its balance sheet quality over time: cash is up, equity is higher, and long-term debt has trended lower. That said, the company still carries a large debt load and a balance sheet heavily weighted toward goodwill and intangible assets, which together totaled more than $28 billion in 2024. Those assets are common in pharma after acquisitions, but they can create risk if future growth disappoints.
Current liabilities also remain sizable at about $27.17 billion in 2024, led by accounts payable and debt due within one year. Overall, GSK’s balance sheet looks manageable but not conservative: it is supported by strong liquid assets and improving equity, but investors should continue monitoring debt reduction, working capital, and whether the company can keep converting its asset base into durable earnings and cash flow.
06/15/26 07:19 PM ETAI Generated. May Contain Errors.