Is GSK financially healthy?

On 30 September 2026 GSK held 2.98B GBP in cash and short-term investments against total debt of 23.86B GBP. Its current ratio is 0.86: what falls due within a year against what turns into cash within a year. Over the last twelve months it generated 6.79B GBP of free cash flow.

GSK's revenue grew 6.0% a year over its last five fiscal years, from 24.35B GBP in fiscal year 2020 to 32.67B GBP in fiscal year 2025. Over the last twelve months it was up 4.1% on the twelve months before.

Where can I find GSK's annual report (20-F)?

GSK, a company based outside the US, files its annual report (Form 20-F) and its interim reports (Form 6-K) with the US Securities and Exchange Commission, on its EDGAR site; the figures on these pages come from them.

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GSK

Arincen ScoreBeta73/100

73/100B

50.330

USD

-0.08

(-0.16%)

Pre Open·51.200USD+0.870(+1.73%)

Last updated: 9 Nov, 06:19 GMT-5 · Delayed 15 min

Fair value66.10Plus-24%52Price 50.3392

Q4 FY2026 · Earnings report

EPS estimate 0.77Revenue estimate 11.79B

Q4 FY2026 · Earnings report

Wednesday 3 February

EPS estimate 0.77Revenue estimate 11.79B

Fair value66.10Plus-24%52Price 50.3392

Q4 FY2026 · Earnings report

EPS estimate 0.77Revenue estimate 11.79B

Q4 FY2026 · Earnings report

Wednesday 3 February

EPS estimate 0.77Revenue estimate 11.79B

Overview Financials News Forecast Earnings Dividends Company

GSK financials

Yes. GSK earned 4.34B GBP of net income over the last twelve months, 13.0% of its revenue. It made a profit in 41 of its 41 fiscal years since 1985.

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 33.47B GBP
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 4.34B GBP
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 6.79B GBP
Cash and short-term investments: 2.98B GBP
Total debt: 23.86B GBP
Shareholders' equityWhat is a balance sheet? The balance sheet lists what a company owns (assets), what it owes (liabilities) and what is left for its shareholders (equity) on one date.: 18.88B GBP

Cash, debt and equity as of 30 Sept 2026.

GSK earnings

Next earnings · Q4 FY2026

3 Feb 2027

EPS estimate

0.77 USD

Revenue estimate

11.79B USD

Last quarter · Q3 FY2026

EPS1.47Beat +5.0%Revenue11.82BBeat +0.4%

Revenue

ReportedEstimate

EPS

ReportedEstimate

Period	Report date	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
Q1 FY2027	—	1.38	—	—	+11.06%	11.01B	—	—	+6.85%
Q4 FY2026	3 Feb 2027	0.77	—	—	+13.24%	11.79B	—	—	+0.13%
Q3 FY2026	28 Oct 2026	1.40	1.47	+5.00%	-0.68%	11.78B	11.82B	+0.37%	+4.44%
Q2 FY2026	28 Jul 2026	1.27	1.36	+7.09%	+10.57%	11.02B	11.18B	+1.42%	+5.30%
Q1 FY2026	29 Apr 2026	1.16	1.24	+6.90%	+9.73%	10.23B	10.30B	+0.69%	+2.60%
Q4 FY2025	4 Feb 2026	0.64	0.68	+6.25%	+15.25%	11.41B	11.78B	+3.23%	+15.90%
Q3 FY2025	29 Oct 2025	1.26	1.48	+17.46%	+16.54%	11.04B	11.32B	+2.56%	+8.58%
Q2 FY2025	30 Jul 2025	1.12	1.23	+9.82%	+12.84%	10.50B	10.61B	+1.12%	+4.81%

Period	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
FY2028	5.29	—	—	+4.98%	49.17B	—	—	+3.49%
FY2027	5.04	—	—	+4.02%	47.51B	—	—	+3.92%
FY2026	4.84	—	—	+7.12%	45.72B	—	—	+4.52%
FY2025	4.53	4.52	-0.21%	+11.88%	43.56B	43.75B	+0.43%	+9.62%
FY2024	3.86	4.04	+4.79%	—	38.74B	39.91B	+3.01%	—
FY2022	3.24	3.70	+14.18%	-5.13%	35.08B	38.63B	+10.13%	-9.69%
FY2021	3.01	3.90	+29.58%	+4.56%	46.19B	42.78B	-7.38%	-0.05%

GSK growth and profitability

Full income statement

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 33.47B GBP
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 4.34B GBP
Gross marginWhat are gross, operating and net profit margins? A profit margin is the share of revenue kept as profit: gross margin after the cost of sales, operating margin after running costs, net margin after all costs.: 72.96%
Operating margin: 20.40%
Net margin: 12.96%

Revenue / Net income

Revenue Net income Net margin

Period	Revenue	Growth	Net income	Growth	Gross margin	Operating margin	Net margin	EBITDA	Growth
FY2025	32.67B	+4.11%	5.72B	+121.98%	72.40%	25.52%	17.50%	10.40B	+56.00%
FY2024	31.38B	+3.46%	2.58B	-47.75%	71.16%	12.82%	8.21%	6.67B	-26.59%
FY2023	30.33B	+3.42%	4.93B	-67.05%	71.76%	22.24%	16.25%	9.08B	+5.60%
FY2022	29.32B	+18.74%	14.96B	+241.07%	67.42%	21.94%	51.00%	8.60B	+32.63%
FY2021	24.70B	+1.40%	4.39B	-23.73%	66.95%	17.64%	17.76%	6.49B	-19.61%

Period	Revenue	Net income	Gross margin	Operating margin	Net margin
Q3 FY2026	8.82B	1.53B	74.46%	28.91%	17.36%
Q2 FY2026	8.41B	435.00M	73.05%	5.72%	5.17%
Q1 FY2026	7.63B	1.74B	75.42%	30.06%	22.77%
Q4 FY2025	8.62B	636.00M	69.17%	17.48%	7.38%
Q3 FY2025	8.55B	2.01B	73.58%	30.34%	23.55%

How GSK makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Revenue32.67B 100.0%

Cost of revenue9.02B 27.6%

Gross profit23.65B 72.4%

Research and development7.53B 23.0%

Selling and administration9.09B 27.8%

Operating income8.34B 25.5%

Tax1.11B 3.4%

Other expense1.51B 4.6%

Net income5.72B 17.5%

FY2025, in GBP. Each band is as wide as its money; the percentage is its share of revenue.

GSK revenue breakdown

By product

FY2022

100.0%Sub Total

Segment	Revenue	Share of revenue	Change on the year
Sub Total	8.96B	100.0%	—

By region

FY2025

54.7%International45.3%Europe

Region	Revenue	Share of revenue	Change on the year
International	8.28B	54.7%	—
Europe	6.85B	45.3%	—

Operating and free cash flow

Full cash flow statement

Operating cash flow Free cash flow

Fiscal year	Operating cash flow	Free cash flow
FY2025	7.14B	5.82B
FY2024	6.55B	3.57B
FY2023	7.89B	6.26B
FY2022	8.16B	6.75B
FY2021	7.95B	5.30B
FY2020	8.44B	6.50B
FY2019	8.02B	5.86B
FY2018	8.42B	6.63B
FY2017	6.92B	4.72B
FY2016	6.50B	4.15B

GSK financial health

Full balance sheet

Cash and short-term investments: 2.98B GBP
Total debt: 23.86B GBP
Net cash: -20.88B GBP
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 6.79B GBP
Current ratioWhat is the current ratio? The current ratio is current assets divided by current liabilities: whether what a company will turn into cash within a year covers what it owes within a year.: 0.86
Debt to equityWhat is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.: 1.26
Piotroski scoreWhat is the Piotroski F-Score? The Piotroski F-Score rates a company's financial strength from 0 to 9: one point for each of nine tests of profit, debt and efficiency it passes.: 8 / 9
Altman Z-scoreWhat is the Altman Z-Score? The Altman Z-Score rolls five financial ratios into one number that signals a company's risk of bankruptcy: over 3 is safe, under 1.8 is distress.: 1.81

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow

Fiscal year	Cash and short-term investments	Total debt	Free cash flow
FY2025	3.40B	17.69B	5.82B
FY2024	3.71B	16.99B	3.57B
FY2023	6.61B	22.97B	6.26B
FY2022	7.88B	20.99B	6.75B
FY2021	5.87B	32.74B	5.30B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity

Fiscal year	Total assets	Total liabilities	Shareholders' equity
FY2025	61.01B	45.02B	16.35B
FY2024	59.46B	46.38B	13.67B
FY2023	75.22B	58.91B	17.01B
FY2022	60.15B	50.05B	10.60B
FY2021	107.14B	78.23B	20.39B
FY2020	109.95B	81.50B	19.94B
FY2019	105.57B	81.25B	15.11B
FY2018	58.07B	54.39B	3.78B
FY2017	56.38B	52.89B	-68.00M
FY2016	59.08B	54.12B	1.12B

GSK valuation

Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.: 17.44
Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.: 10.40
Price to sales (TTM)What is the P/S ratio? The price-to-sales ratio compares a company's market value with its revenue over the last year: what you pay for each dollar of sales.: 2.28
Price to bookWhat is the P/B ratio? The price-to-book ratio compares a company's market value with its book value, the shareholders' equity on its balance sheet.: 4.04
EV / EBITDA (TTM)What is EV/EBITDA? EV/EBITDA compares a company's whole value, debt included and cash taken off, with a year of its earnings before interest, tax and depreciation.: 11.14

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Market capitalization

102.02B USD

Total debt

31.88B USD

−

Cash and short-term investments

3.98B USD

Enterprise value

129.92B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate

Fiscal year	P/E	Forward P/E	P/S	P/B	EV/EBITDA
FY2028 (est.)	9.52	—	—	—	—
FY2027 (est.)	9.99	9.52	—	—	—
FY2026 (est.)	10.40	9.99	—	—	—
Now (TTM)	17.44	10.05	2.28	4.04	11.14
FY2025	12.91	10.06	2.26	4.51	8.46
FY2024	21.45	8.03	1.76	4.03	10.26
FY2023	11.94	9.44	1.95	3.47	8.62
FY2022	3.90	9.56	1.99	5.52	8.81
FY2021	11.89	10.89	2.11	2.56	12.20

GSK against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Bristol-Myers Squibb, Pfizer, Gilead Sciences, Amgen, Biogen, and Merck & Co., the US Drug Manufacturers - General companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

P/E (today)Above its median17.4
3.325.3
Gross marginHighest in 5 years72.4%
66.9%72.4%
Against its peers: 3 of 7Peers' median 71.5%
Operating marginHighest in 5 years25.5%
12.8%25.5%
Against its peers: 6 of 7Peers' median 28.8%
Net marginAt its median17.5%
8.2%51.0%
Against its peers: 4 of 7Peers' median 17.8%
Return on equityAbove its median35.0%
18.8%141.1%
Against its peers: 4 of 7Peers' median 36.1%
Free cash flow marginBelow its median17.8%
11.4%23.0%
Against its peers: 6 of 7Peers' median 21.5%
Revenue growthAbove its median4.1%
1.4%18.7%
Against its peers: 2 of 7Peers' median 1.3%
EPS growthAbove its median124.2%
-67.2%171.1%
Against its peers: 2 of 6Peers' median 8.0%
Debt to EBITDALowest in 5 years1.70×
1.70×5.05×
Against its peers: 1 of 7Peers' median 2.73×
Current ratioAt its median0.82
0.780.91
Against its peers: 7 of 7Peers' median 1.40

Figure	FY2025	5-year low – high	Against its history	Against its peers
P/E (today)	17.4	3.325.3	Above its median	—
Gross margin	72.4%	66.9%72.4%	Highest in 5 years	3 of 7
Operating margin	25.5%	12.8%25.5%	Highest in 5 years	6 of 7
Net margin	17.5%	8.2%51.0%	At its median	4 of 7
Return on equity	35.0%	18.8%141.1%	Above its median	4 of 7
Free cash flow margin	17.8%	11.4%23.0%	Below its median	6 of 7
Revenue growth	4.1%	1.4%18.7%	Above its median	2 of 7
EPS growth	124.2%	-67.2%171.1%	Above its median	2 of 6
Debt to EBITDA	1.70×	1.70×5.05×	Lowest in 5 years	1 of 7
Current ratio	0.82	0.780.91	At its median	7 of 7

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

GSK dividends

Annual dividend: 1.81 USD
Dividend yield (indicated)What is dividend yield? Dividend yield is a year of dividends as a percentage of the share price: the income a shareholder receives for each dollar invested at today's price.: 3.59%
Payout ratioWhat is the payout ratio? The payout ratio is the share of a company's earnings paid out as dividends: dividends per share divided by earnings per share (EPS).: 78.58%
Years of dividend growthWhat are years of dividend growth? The years in a row a company has raised its dividend per share. 25 years make an S&P 500 company a Dividend Aristocrat; 50 make a Dividend King.: 3
Frequency: Quarterly
Next payment: 0.45 USD
Next ex-dividend dateWhat is the ex-dividend date? The ex-dividend date is the first day a stock trades without its next dividend: buy before it to receive the payment; buy on or after it and the seller gets it.: 13 Nov 2026
Next payment date: 7 Jan 2027

Dividends per share

Year	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Dividends per share	1.65	1.51	1.37	1.89	2.29	2.05	2.06	2.17	2.02	2.89

GSK ownership

InstitutionsWhat is institutional ownership? Institutional ownership is the share of a company's stock held by funds, banks and other investment managers, as they report it each quarter on Form 13F.: 17.30%
Institutional holders: 1,080 (+14)
Free floatWhat is free float? Free float is the part of a company's shares that anyone can buy and sell: all its shares minus those held by insiders, founders and owners of over 5%.: 95.84%

Who owns the shares

Institutions 17.3% Others 82.7%

As of 30 Jun 2026

Shares free to trade

Free float 1.94B shares ·95.8% Closely held 84.36M shares ·4.2%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Shares outstanding

Basic shares Diluted shares Change in diluted shares

Fiscal year	Basic shares	Diluted shares	Change in diluted shares
FY2025	2.03B	2.06B	-0.60%
FY2024	2.04B	2.07B	+0.75%
FY2023	2.03B	2.06B	+0.66%
FY2022	2.01B	2.04B	+25.99%
FY2021	1.60B	1.62B	-19.57%

Common questions about GSK's financials

Source: Financial Modeling Prep

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GSK

GSK financials

GSK earnings

Revenue

EPS

GSK growth and profitability

Revenue / Net income

How GSK makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

GSK revenue breakdown

By product

By region

Operating and free cash flow

GSK financial health

Cash, debt and free cash flow

Assets, liabilities and equity

GSK valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

GSK against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

GSK dividends

Dividends per share

GSK ownership

Who owns the shares

Shares free to trade

Shares outstanding

Common questions about GSK's financials

Is GSK profitable?

Is GSK financially healthy?

Is GSK growing?

Where can I find GSK's annual report (20-F)?

Need help?

GSK DQuotes are delayed by 15 minutes

GSK

GSK financials

GSK earnings

Revenue

EPS

GSK growth and profitability

Revenue / Net income

How GSK makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

GSK revenue breakdown

By product

By region

Operating and free cash flow

GSK financial health

Cash, debt and free cash flow

Assets, liabilities and equity

GSK valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

GSK against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

GSK dividends

Dividends per share

GSK ownership

Who owns the shares

Shares free to trade

Shares outstanding

Common questions about GSK's financials

Is GSK profitable?

Is GSK financially healthy?

Is GSK growing?

Where can I find GSK's annual report (20-F)?

Need help?

GSK
D
Quotes are delayed by 15 minutes