73/100B50.330
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Pre Open·51.200USD+0.870(+1.73%)
Last updated: · 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
EPS estimate 0.77Revenue estimate 11.79B
GSK free cash flow 1990–2026What 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.
GSK's free cash flow in Q3 FY2026, the three months to 30 September 2026, was 2.41B GBP, down 7.1% on the same quarter a year before. GSK's free cash flow over the last twelve months was 6.79B GBP, up 14.1% on the twelve months before. In fiscal year 2025 it was 5.82B GBP, up 63.1% on the year before.
Last updated 7 Nov 2026 · Next report 3 Feb 2027
Free cash flow
Free cash flow · +24.2% a year over 10 yearsFree cash flow margin
Growth
| Fiscal year | Period ending | Free cash flow | Growth | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| TTM | 30 Sept 2026 | 6.79B | +14.13% | 20.30% | 8.50B | -1.70B | 3.34 |
| FY2025 | 31 Dec 2025 | 5.82B | +63.06% | 17.83% | 7.14B | -1.32B | 2.83 |
| FY2024 | 31 Dec 2024 | 3.57B | -42.92% | 11.38% | 6.55B | -2.98B | 1.72 |
| FY2023 | 31 Dec 2023 | 6.26B | -7.33% | 20.63% | 7.89B | -1.63B | 3.04 |
| FY2022 | 31 Dec 2022 | 6.75B | +27.46% | 23.03% | 8.16B | -1.41B | 3.31 |
| FY2021 | 31 Dec 2021 | 5.30B | -18.44% | 21.45% | 7.95B | -2.65B | 3.27 |
| FY2020 | 31 Dec 2020 | 6.50B | +10.91% | 26.67% | 8.44B | -1.95B | 3.22 |
| FY2019 | 31 Dec 2019 | 5.86B | -11.59% | 17.35% | 8.02B | -2.16B | 2.92 |
| FY2018 | 31 Dec 2018 | 6.63B | +40.48% | 21.50% | 8.42B | -1.80B | 3.33 |
| FY2017 | 31 Dec 2017 | 4.72B | +13.78% | 15.62% | 6.92B | -2.20B | 2.39 |
| FY2016 | 31 Dec 2016 | 4.15B | +520.51% | 14.86% | 6.50B | -2.35B | 2.11 |
| FY2015 | 31 Dec 2015 | 668.00M | -80.50% | 2.79% | 2.57B | -1.90B | 0.34 |
| FY2014 | 31 Dec 2014 | 3.43B | -37.96% | 14.89% | 5.18B | -1.75B | 1.76 |
| FY2013 | 31 Dec 2013 | 5.52B | +93.38% | 20.83% | 7.22B | -1.70B | 2.81 |
| FY2012 | 31 Dec 2012 | 2.86B | -42.00% | 10.80% | 4.38B | -1.52B | 1.43 |
| FY2011 | 31 Dec 2011 | 4.92B | -4.65% | 17.97% | 6.25B | -1.33B | 2.41 |
| FY2010 | 31 Dec 2010 | 5.16B | -13.51% | 18.18% | 6.80B | -1.64B | 2.52 |
| FY2009 | 31 Dec 2009 | 5.97B | +13.85% | 21.04% | 7.84B | -1.87B | 2.92 |
| FY2008 | 31 Dec 2008 | 5.24B | +30.27% | 21.53% | 7.31B | -2.07B | 2.51 |
| FY2007 | 31 Dec 2007 | 4.02B | +61.72% | 17.70% | 6.17B | -2.14B | 1.81 |
| FY2006 | 31 Dec 2006 | 2.49B | -50.40% | 10.72% | 4.08B | -1.59B | 1.09 |
| FY2005 | 31 Dec 2005 | 5.02B | +7.03% | 23.16% | 6.20B | -1.18B | 2.19 |
| FY2004 | 31 Dec 2004 | 4.69B | +23.67% | 23.46% | 4.94B | -255.00M | 2.04 |
| FY2003 | 31 Dec 2003 | 3.79B | +106.76% | 17.70% | 4.85B | -1.06B | 1.64 |
| FY2002 | 31 Dec 2002 | 1.83B | -47.50% | 8.64% | 3.06B | -1.23B | 0.77 |
| FY2001 | 31 Dec 2001 | 3.49B | +366.14% | 17.00% | 4.61B | -1.12B | 1.43 |
| FY2000 | 31 Dec 2000 | 749.00M | — | 4.14% | 1.85B | -1.10B | 0.31 |
| FY1999 | 31 Dec 1999 | -87.00M | — | -1.02% | 510.00M | -597.00M | -0.03 |
| FY1998 | 31 Dec 1998 | -65.00M | -132.50% | -0.81% | 410.00M | -475.00M | -0.02 |
| FY1997 | 31 Dec 1997 | 200.00M | -55.36% | 2.51% | 615.00M | -415.00M | 0.07 |
| FY1996 | 31 Dec 1996 | 448.00M | -21.13% | 5.37% | 849.00M | -401.00M | 0.16 |
| FY1995 | 31 Dec 1995 | 568.00M | -71.07% | 5.41% | 1.25B | -684.00M | 0.22 |
| FY1994 | 31 Dec 1994 | 1.96B | +310.76% | — | 2.45B | -485.59M | — |
| FY1993 | 31 Dec 1993 | 478.00M | +49.84% | — | 1.05B | -575.00M | — |
| FY1992 | 31 Dec 1992 | 319.00M | +406.35% | — | 927.00M | -608.00M | — |
| FY1991 | 31 Dec 1991 | 63.00M | +600.00% | — | 657.00M | -594.00M | — |
| FY1990 | 31 Dec 1990 | 9.00M | — | — | 615.00M | -606.00M | — |
| Quarter | Period ending | Free cash flow | Growth on a year before | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 2.41B | -7.14% | 27.37% | 2.79B | -372.39M | 1.19 |
| Q2 FY2026 | 30 Jun 2026 | 2.21B | +50.82% | 26.24% | 2.54B | -328.95M | 1.09 |
| Q1 FY2026 | 31 Mar 2026 | 698.00M | +0.14% | 9.15% | 1.14B | -443.00M | 0.34 |
| Q4 FY2025 | 31 Dec 2025 | 1.48B | +23.63% | 17.13% | 2.04B | -560.25M | 0.72 |
| Q3 FY2025 | 30 Sept 2025 | 2.60B | +98.11% | 30.41% | 3.03B | -428.37M | 1.27 |
| Q2 FY2025 | 30 Jun 2025 | 1.46B | +118.03% | 18.32% | 2.10B | -633.00M | 0.71 |
| Q1 FY2025 | 31 Mar 2025 | 697.00M | -20.45% | 9.27% | 1.15B | -448.00M | 0.34 |
| Q4 FY2024 | 31 Dec 2024 | 1.19B | -60.61% | 14.71% | 2.33B | -1.14B | 0.58 |
| Q3 FY2024 | 30 Sept 2024 | 1.31B | -23.50% | 16.38% | 2.15B | -842.00M | 0.64 |
| Q2 FY2024 | 30 Jun 2024 | 671.00M | -13.08% | 8.51% | 1.11B | -442.00M | 0.33 |
| Q1 FY2024 | 31 Mar 2024 | 876.15M | — | 11.90% | 1.19B | -314.45M | 0.43 |
| Q4 FY2023 | 31 Dec 2023 | 3.03B | +144.40% | 37.65% | 3.62B | -587.28M | 1.47 |
| Q3 FY2023 | 30 Sept 2023 | 1.72B | +52.82% | 21.05% | 2.21B | -497.00M | 0.83 |
| Q2 FY2023 | 30 Jun 2023 | 772.00M | -36.15% | 10.76% | 1.31B | -535.00M | 0.38 |
| Q1 FY2023 | 31 Mar 2023 | -476.00M | -124.14% | -6.85% | 53.00M | -529.00M | -0.23 |
| Q4 FY2022 | 31 Dec 2022 | 1.24B | -70.46% | 16.82% | 1.75B | -509.57M | 0.61 |
| Q3 FY2022 | 30 Sept 2022 | 1.12B | -64.86% | 14.33% | 1.45B | -328.15M | 0.55 |
| Q2 FY2022 | 30 Jun 2022 | 1.21B | +6.35% | 17.45% | 1.64B | -426.00M | 0.59 |
| Q1 FY2022 | 31 Mar 2022 | 1.97B | — | 27.43% | 2.54B | -570.00M | 0.97 |
| Q4 FY2021 | 31 Dec 2021 | 4.20B | +6.29% | 44.07% | 4.70B | -504.16M | 2.06 |
| Q3 FY2021 | 30 Sept 2021 | 3.19B | +1,399.23% | 48.19% | 3.50B | -310.47M | 1.58 |
| Q2 FY2021 | 30 Jun 2021 | 1.14B | -51.79% | 19.47% | 1.35B | -212.99M | 0.56 |
| Q1 FY2021 | 31 Mar 2021 | -23.00M | -103.70% | -0.31% | 331.00M | -354.00M | -0.01 |
| Q4 FY2020 | 31 Dec 2020 | 3.95B | +46.96% | 45.20% | 4.63B | -676.27M | 1.96 |
| Q3 FY2020 | 30 Sept 2020 | 213.00M | -89.64% | 2.46% | 861.00M | -648.00M | 0.11 |
| Q2 FY2020 | 30 Jun 2020 | 2.36B | +212.73% | 30.93% | 2.76B | -402.00M | 1.17 |
| Q1 FY2020 | 31 Mar 2020 | 621.00M | +72.98% | 6.83% | 965.00M | -344.00M | 0.31 |
| Q4 FY2019 | 31 Dec 2019 | 2.69B | -22.85% | 30.21% | 3.45B | -765.00M | 1.34 |
| Q3 FY2019 | 30 Sept 2019 | 2.06B | +24.91% | 21.91% | 2.52B | -459.00M | 1.03 |
| Q2 FY2019 | 30 Jun 2019 | 754.00M | -23.61% | 9.66% | 1.39B | -635.00M | 0.38 |
| Q1 FY2019 | 31 Mar 2019 | 359.00M | -29.33% | 4.69% | 663.00M | -304.00M | 0.18 |
| Q4 FY2018 | 31 Dec 2018 | 3.48B | +59.01% | 42.50% | 4.12B | -635.00M | 1.75 |
| Q3 FY2018 | 30 Sept 2018 | 1.65B | +17.49% | 20.34% | 2.08B | -431.00M | 0.83 |
| Q2 FY2018 | 30 Jun 2018 | 987.00M | +149.24% | 13.50% | 1.36B | -375.00M | 0.50 |
| Q1 FY2018 | 31 Mar 2018 | 508.00M | -30.22% | 7.03% | 863.00M | -355.00M | 0.26 |
| Q4 FY2017 | 31 Dec 2017 | 2.19B | -1.75% | 28.68% | 2.87B | -678.00M | 1.12 |
| Q3 FY2017 | 30 Sept 2017 | 1.40B | +10.14% | 17.86% | 1.90B | -496.00M | 0.71 |
| Q2 FY2017 | 30 Jun 2017 | 396.00M | -47.83% | 5.41% | 1.01B | -612.00M | 0.20 |
| Q1 FY2017 | 31 Mar 2017 | 728.00M | — | 9.86% | 1.14B | -416.00M | 0.37 |
| Q4 FY2016 | 31 Dec 2016 | 2.23B | +170.96% | 29.40% | 2.99B | -761.00M | 1.13 |
| Q3 FY2016 | 30 Sept 2016 | 1.27B | +3,247.37% | 16.87% | 1.77B | -495.00M | 0.65 |
| Q2 FY2016 | 30 Jun 2016 | 759.00M | — | 11.62% | 1.24B | -477.00M | 0.39 |
| Q1 FY2016 | 31 Mar 2016 | -116.00M | -2,420.00% | -1.86% | 503.00M | -619.00M | -0.06 |
| Q4 FY2015 | 31 Dec 2015 | 823.00M | -49.32% | 13.09% | 1.50B | -678.00M | 0.43 |
| Q3 FY2015 | 30 Sept 2015 | 38.00M | -95.53% | 0.62% | 481.00M | -443.00M | 0.02 |
| Q2 FY2015 | 30 Jun 2015 | -198.00M | -153.23% | -3.36% | 217.00M | -415.00M | -0.10 |
| Q1 FY2015 | 31 Mar 2015 | 5.00M | -99.13% | 0.09% | 370.00M | -365.00M | 0.00 |
| Q4 FY2014 | 31 Dec 2014 | 1.62B | -3.73% | 26.25% | 2.21B | -586.00M | 0.84 |
| Q3 FY2014 | 30 Sept 2014 | 851.00M | -47.40% | 15.07% | 1.27B | -422.00M | 0.44 |
| Q2 FY2014 | 30 Jun 2014 | 372.00M | -71.07% | 6.69% | 766.00M | -394.00M | 0.19 |
| Q1 FY2014 | 31 Mar 2014 | 578.00M | -37.85% | 10.30% | 927.00M | -349.00M | 0.30 |
| Q4 FY2013 | 31 Dec 2013 | 1.69B | +21.28% | 24.43% | 2.19B | -500.00M | 0.86 |
| Q3 FY2013 | 30 Sept 2013 | 1.62B | — | 24.85% | 2.08B | -459.00M | 0.82 |
| Q2 FY2013 | 30 Jun 2013 | 1.29B | -6.68% | 19.43% | 1.71B | -425.00M | 0.65 |
| Q1 FY2013 | 31 Mar 2013 | 930.00M | +22.85% | 14.37% | 1.25B | -317.00M | 0.48 |
| Q4 FY2012 | 31 Dec 2012 | 1.39B | -17.25% | 20.45% | 1.91B | -523.00M | 0.71 |
| Q3 FY2012 | 30 Sept 2012 | -671.00M | -143.54% | -10.28% | -288.00M | -383.00M | -0.34 |
| Q2 FY2012 | 30 Jun 2012 | 1.38B | +40.33% | 21.32% | 1.74B | -359.00M | 0.69 |
| Q1 FY2012 | 31 Mar 2012 | 757.00M | +5.43% | 11.40% | 1.01B | -255.00M | 0.38 |
| Q4 FY2011 | 31 Dec 2011 | 1.68B | +64.97% | 24.09% | 2.15B | -465.00M | 0.84 |
| Q3 FY2011 | 30 Sept 2011 | 1.54B | +167.07% | 21.69% | 1.83B | -287.00M | 0.76 |
| Q2 FY2011 | 30 Jun 2011 | 982.00M | -44.52% | 14.61% | 1.29B | -307.00M | 0.48 |
| Q1 FY2011 | 31 Mar 2011 | 718.00M | -60.02% | 10.90% | 987.00M | -269.00M | 0.35 |
| Q4 FY2010 | 31 Dec 2010 | 1.02B | -37.10% | 14.16% | 1.47B | -446.00M | 0.50 |
| Q3 FY2010 | 30 Sept 2010 | 577.00M | -66.04% | 8.47% | 1.09B | -517.00M | 0.28 |
| Q2 FY2010 | 30 Jun 2010 | 1.77B | +36.05% | 25.20% | 2.12B | -346.00M | 0.86 |
| Q1 FY2010 | 31 Mar 2010 | 1.80B | +33.23% | 24.41% | 2.12B | -326.00M | 0.88 |
| Q4 FY2009 | 31 Dec 2009 | 1.62B | +19.73% | 20.01% | 2.26B | -641.00M | 0.80 |
| Q3 FY2009 | 30 Sept 2009 | 1.70B | +22.23% | 25.14% | 2.08B | -382.00M | 0.83 |
| Q2 FY2009 | 30 Jun 2009 | 1.30B | +43.44% | 19.28% | 1.76B | -462.00M | 0.64 |
| Q1 FY2009 | 31 Mar 2009 | 1.35B | -9.29% | 19.91% | 1.74B | -388.00M | 0.66 |
| Q4 FY2008 | 31 Dec 2008 | 1.35B | +29.36% | 19.58% | 2.14B | -785.00M | 0.66 |
| Q3 FY2008 | 30 Sept 2008 | 1.39B | +5.46% | 23.63% | 1.89B | -503.00M | 0.68 |
| Q2 FY2008 | 30 Jun 2008 | 907.00M | +8.49% | 15.44% | 1.37B | -466.00M | 0.43 |
| Q1 FY2008 | 31 Mar 2008 | 1.49B | +80.78% | 26.13% | 1.80B | -315.00M | 0.69 |
| Q4 FY2007 | 31 Dec 2007 | 1.05B | -12.80% | 17.44% | 1.66B | -612.08M | 0.47 |
| Q3 FY2007 | 30 Sept 2007 | 1.32B | — | 24.07% | 1.74B | -424.00M | 0.59 |
| Q2 FY2007 | 30 Jun 2007 | 836.00M | +20.63% | 14.73% | 1.24B | -401.00M | 0.37 |
| Q1 FY2007 | 31 Mar 2007 | 822.00M | -42.48% | 14.70% | 1.53B | -708.00M | 0.36 |
| Q4 FY2006 | 31 Dec 2006 | 1.20B | -17.81% | 20.15% | 1.74B | -538.42M | 0.54 |
| Q3 FY2006 | 30 Sept 2006 | -555.00M | -138.30% | -9.84% | -113.00M | -442.00M | -0.25 |
| Q2 FY2006 | 30 Jun 2006 | 693.00M | -38.94% | 11.92% | 1.04B | -342.00M | 0.30 |
| Q1 FY2006 | 31 Mar 2006 | 1.43B | +41.35% | 24.61% | 1.70B | -267.00M | 0.62 |
| Q4 FY2005 | 31 Dec 2005 | 1.46B | — | 24.73% | 1.62B | -162.54M | 0.64 |
| Q3 FY2005 | 30 Sept 2005 | 1.45B | — | 26.49% | 1.72B | -270.00M | 0.64 |
| Q2 FY2005 | 30 Jun 2005 | 1.14B | -26.49% | 21.67% | 1.42B | -289.00M | 0.50 |
| Q1 FY2005 | 31 Mar 2005 | 1.01B | -14.90% | 20.08% | 1.19B | -181.00M | 0.44 |
| Q4 FY2004 | 31 Dec 2004 | -334.19M | — | -5.97% | 361.22M | -695.41M | -0.15 |
| Q3 FY2004 | 30 Sept 2004 | — | — | — | 488.61M | — | — |
| Q2 FY2004 | 30 Jun 2004 | 1.54B | -24.40% | 31.06% | 1.78B | -239.00M | 0.67 |
| Q1 FY2004 | 31 Mar 2004 | 1.19B | +29.28% | 24.47% | 1.33B | -144.00M | 0.51 |
| Q4 FY2003 | 31 Dec 2003 | -1.06B | — | -19.90% | -846.72M | -218.00M | -0.46 |
| Q3 FY2003 | 30 Sept 2003 | 2.09B | +10.96% | 38.16% | 2.34B | -255.00M | 0.90 |
| Q2 FY2003 | 30 Jun 2003 | 2.04B | +12.84% | 38.39% | 2.28B | -242.16M | 0.87 |
| Q1 FY2003 | 31 Mar 2003 | 918.96M | -25.95% | 17.41% | 1.07B | -152.84M | 0.39 |
| Q4 FY2002 | 31 Dec 2002 | -55.00M | — | -0.97% | 409.00M | -464.00M | -0.02 |
| Q3 FY2002 | 30 Sept 2002 | 1.88B | +33.24% | 37.46% | 2.14B | -263.00M | 0.81 |
| Q2 FY2002 | 30 Jun 2002 | 1.81B | +6.03% | 33.43% | 2.10B | -291.00M | 0.76 |
| Q1 FY2002 | 31 Mar 2002 | 1.24B | +56.10% | 24.29% | 1.45B | -208.00M | 0.52 |
| Q4 FY2001 | 31 Dec 2001 | -420.23M | — | -7.42% | -60.55M | -359.69M | -0.18 |
| Q3 FY2001 | 30 Sept 2001 | 1.41B | -38.81% | 28.25% | 1.70B | -287.00M | 0.59 |
| Q2 FY2001 | 30 Jun 2001 | 1.71B | — | 33.33% | 1.93B | -220.00M | 0.70 |
| Q1 FY2001 | 31 Mar 2001 | 795.00M | -16.05% | 16.71% | 1.05B | -251.00M | 0.33 |
| Q4 FY2000 | 31 Dec 2000 | -470.00M | — | -9.35% | -470.00M | 0.00 | -0.19 |
| Q3 FY2000 | 30 Sept 2000 | 2.31B | — | 52.07% | 2.31B | 0.00 | 0.95 |
| Q2 FY2000 | 30 Jun 2000 | — | — | — | 189.00M | — | — |
| Q1 FY2000 | 31 Mar 2000 | 947.00M | — | 23.15% | 1.19B | -246.00M | 0.39 |
Figures in GBP. Free cash flow is operating cash flow less capital expenditure. Quarterly growth is on the same quarter a year before; TTM is the last four quarters.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Total debt,Cash flow
Common questions about GSK's free cash flow
Source: Financial Modeling Prep