GSK plc (GLAXF) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 30, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Mar 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the GLAXF SEC filings page.
GSK plc (GLAXF) reported $43.9B in revenue for fiscal year 2025, up 11.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (20-F and 6-K reports).
Financial Health Signals
We do not publish a peer-relative financial health score for GSK plc, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
GSK plc scores 2.09, placing it in the grey zone between 1.81 and 2.99. The largest contribution to the score comes from a market capitalization of $98.2B against total liabilities of $60.7B. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
GSK plc passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, GSK plc generates $1.35 in operating cash flow ($10.4B OCF vs $7.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
GSK plc earns $11.32 in operating income for every $1 of interest expense ($10.7B vs $942.6M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
GSK plc generated $43.9B in revenue in fiscal year 2025. This represents an increase of 11.8% from the prior year.
GSK plc reported $7.7B in net income in fiscal year 2025. This represents an increase of 138.4% from the prior year.
GSK plc earned $1.87 per diluted share (EPS) in fiscal year 2025. This represents an increase of 139.7% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
GSK plc generated $8.6B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 33.2% from the prior year.
GSK plc held $4.6B in cash against $19.8B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
GSK plc's gross margin was 72.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.2 percentage points from the prior year.
GSK plc's operating margin was 24.3% in fiscal year 2025, reflecting core business profitability. This is up 11.5 percentage points from the prior year.
GSK plc's net profit margin was 17.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 9.3 percentage points from the prior year.
GSK plc's ROE was 34.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 16.1 percentage points from the prior year.
Capital Allocation
GSK plc invested $10.1B in research and development in fiscal year 2025. This represents an increase of 26.3% from the prior year.
GSK plc spent $1.9B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
GSK plc invested $1.8B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 3.5% from the prior year.
GLAXF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $43.9B+11.8% | $39.3B+1.7% | $38.6B+9.1% | $35.4B+6.2% | $33.3B+0.2% | $33.3B-25.7% | $44.8B+13.9% | $39.3B-3.7% | $40.8B+18.7% | $34.4B-2.5% | $35.3B |
| Cost of Revenue | $12.1B+7.0% | $11.3B+3.8% | $10.9B-5.4% | $11.5B+4.7% | $11.0B+1.7% | $10.8B-31.2% | $15.7B+20.4% | $13.1B-6.6% | $14.0B+22.1% | $11.5B-12.2% | $13.1B |
| Gross Profit | $31.8B+13.8% | $28.0B+0.8% | $27.7B+16.2% | $23.9B+7.0% | $22.3B-0.5% | $22.4B-22.7% | $29.0B+10.6% | $26.3B-2.2% | $26.8B+17.0% | $22.9B+3.3% | $22.2B |
| R&D Expenses | $10.1B+26.3% | $8.0B+1.1% | $7.9B+19.6% | $6.6B-2.2% | $6.8B+3.5% | $6.5B+8.0% | $6.1B+22.0% | $5.0B-17.9% | $6.1B+35.3% | $4.5B-14.7% | $5.2B |
| Operating Income | $10.7B+111.9% | $5.0B-41.4% | $8.6B+10.6% | $7.8B+32.1% | $5.9B-28.0% | $8.2B-11.6% | $9.2B+32.0% | $7.0B+26.6% | $5.5B+72.5% | $3.2B-78.9% | $15.2B |
| Interest Expense | $942.6M+12.5% | $837.7M-17.0% | $1.0B-8.4% | $1.1B+5.3% | $1.0B-13.8% | $1.2B+0.3% | $1.2B+18.8% | $1.0B+2.6% | $993.0M+9.4% | $908.0M-18.7% | $1.1B |
| Income Tax | $1.5B+127.0% | $658.6M-31.6% | $963.4M+12.8% | $853.8M+662.0% | $112.1M+22.4% | $91.5M-92.8% | $1.3B+31.4% | $962.3M-47.5% | $1.8B+69.6% | $1.1B-65.9% | $3.2B |
| Net Income | $7.7B+138.4% | $3.2B-48.7% | $6.3B-65.2% | $18.1B+205.1% | $5.9B-24.6% | $7.9B+27.4% | $6.2B+33.3% | $4.6B+123.1% | $2.1B+84.2% | $1.1B-90.9% | $12.4B |
| EPS (Basic) | $1.90+139.8% | $0.79-48.9% | $1.55-65.5% | $4.49+203.1% | $1.48-25.0% | $1.97+58.3% | $1.25+32.5% | $0.94+121.4% | $0.42+83.2% | $0.23-91.0% | $2.57 |
| EPS (Diluted) | $1.87+139.7% | $0.78-49.0% | $1.53-65.5% | $4.42+202.8% | $1.46-25.0% | $1.95+58.6% | $1.23+32.1% | $0.93+121.8% | $0.42+82.7% | $0.23-91.0% | $2.54 |
| Diluted Shares (Avg) | 4.12B-0.6% | 4.14B+0.8% | 4.11B+0.7% | 4.08B+0.8% | 4.05B+0.5% | 4.03B-19.7% | 5.02B+0.9% | 4.97B+0.6% | 4.94B+0.7% | 4.91B+0.4% | 4.89B |
Not reported in any period shown, so not listed: SG&A Expenses, EBITDA.
GLAXF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $82.2B+10.4% | $74.5B-1.0% | $75.2B+3.5% | $72.6B-32.0% | $106.8B-2.8% | $109.9B+3.9% | $105.7B+42.7% | $74.1B-2.8% | $76.3B+4.7% | $72.9B | N/A |
| Current Assets | $23.5B+10.6% | $21.3B-10.4% | $23.8B-5.3% | $25.1B-0.5% | $25.2B-8.9% | $27.7B+7.0% | $25.9B+19.7% | $21.6B+0.4% | $21.5B+4.4% | $20.6B | N/A |
| Cash & Equivalents | $4.6B-5.7% | $4.8B+29.5% | $3.7B-16.8% | $4.5B-22.1% | $5.8B-32.9% | $8.6B+37.6% | $6.2B+26.3% | $4.9B-4.7% | $5.2B-14.2% | $6.0B-29.7% | $8.6B |
| Inventory | $8.0B+12.2% | $7.1B+1.3% | $7.0B+12.7% | $6.2B-20.4% | $7.8B-4.7% | $8.2B+3.8% | $7.9B+12.9% | $7.0B-7.0% | $7.5B+19.4% | $6.3B | N/A |
| Accounts Receivable | $10.0B+17.4% | $8.6B-9.0% | $9.4B+10.5% | $8.5B-19.7% | $10.6B+11.7% | $9.5B-0.6% | $9.6B+16.6% | $8.2B+1.0% | $8.1B+9.2% | $7.4B | N/A |
| Goodwill | $9.4B+7.9% | $8.7B+0.7% | $8.7B+2.0% | $8.5B-40.3% | $14.2B-1.6% | $14.5B+3.3% | $14.0B+89.7% | $7.4B-4.8% | $7.8B+5.4% | $7.4B-3.3% | $7.6B |
| Total Liabilities | $60.7B+4.6% | $58.1B-1.4% | $58.9B-2.6% | $60.4B-22.5% | $78.0B-4.3% | $81.5B+0.1% | $81.4B+17.2% | $69.4B-3.0% | $71.6B+7.2% | $66.8B | N/A |
| Current Liabilities | $28.8B+5.9% | $27.2B+1.2% | $26.8B-2.5% | $27.5B-13.8% | $32.0B+5.6% | $30.3B-5.2% | $31.9B+11.2% | $28.7B-20.1% | $35.9B+53.3% | $23.4B | N/A |
| Non-Current Liabilities | $32.0B+3.4% | $30.9B-3.5% | $32.0B-2.6% | $32.9B-28.5% | $46.0B-10.1% | $51.2B+3.5% | $49.5B+21.5% | $40.7B+14.3% | $35.6B-17.8% | $43.3B | N/A |
| Long-Term Debt | $19.8B+7.9% | $18.3B-5.4% | $19.4B-5.8% | $20.6B-25.9% | $27.8B-13.2% | $32.0B+2.2% | $31.3B+21.0% | $25.9B+34.1% | $19.3B+6.7% | $18.1B+14.3% | $15.8B |
| Total Equity | $22.0B+28.7% | $17.1B+0.6% | $17.0B+32.9% | $12.8B-37.0% | $20.3B+2.0% | $19.9B+31.7% | $15.1B+213.6% | $4.8Bn/m | -$92.0M-106.6% | $1.4B-89.4% | $13.1B |
| Retained Earnings | $13.7B+40.6% | $9.8B+5.8% | $9.2B+75.1% | $5.3B-50.9% | $10.7B+16.2% | $9.2B+53.5% | $6.0Bn/m | -$3.5Bn/m | -$8.8Bn/m | -$6.7B | N/A |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
GLAXF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $10.4B+26.8% | $8.2B-4.8% | $8.6B-3.5% | $8.9B-16.7% | $10.7B-6.9% | $11.5B+8.4% | $10.6B-1.0% | $10.7B+14.8% | $9.4B+16.8% | $8.0B+111.6% | $3.8B |
| Capital Expenditures | $1.8B+3.5% | $1.8B+4.6% | $1.7B+21.3% | $1.4B+7.6% | $1.3B-5.1% | $1.4B-19.5% | $1.7B-2.1% | $1.7B-17.9% | $2.1B+9.8% | $1.9B-6.5% | $2.0B |
| Free Cash Flow | $8.6B+33.2% | $6.5B-7.1% | $7.0B-8.1% | $7.6B-20.0% | $9.5B-7.2% | $10.2B+13.6% | $9.0B-0.8% | $9.0B+24.3% | $7.3B+18.9% | $6.1B+248.6% | $1.8B |
| Investing Cash Flow | -$5.7Bn/m | -$1.5Bn/m | -$2.0Bn/m | -$10.6Bn/m | -$2.4B-181.3% | $3.0Bn/m | -$7.1Bn/m | -$2.0Bn/m | -$2.0Bn/m | -$1.6B-117.6% | $8.9B |
| Financing Cash Flow | -$5.0Bn/m | -$5.9Bn/m | -$7.2B-823.2% | $993.9Mn/m | -$10.2Bn/m | -$13.8Bn/m | -$2.4Bn/m | -$8.2Bn/m | -$8.6Bn/m | -$7.9Bn/m | -$10.5B |
| Dividends Paid | $3.4B+12.7% | $3.1B+6.9% | $2.9B-31.6% | $4.2B-22.4% | $5.4B-0.6% | $5.4B+3.6% | $5.2B+4.7% | $5.0B-5.2% | $5.3B-11.7% | $6.0B+4.7% | $5.7B |
| Share Buybacks | $1.9B | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation.
GLAXF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.4%+1.2pp | 71.2%-0.6pp | 71.8%+4.3pp | 67.4%+0.5pp | 67.0%-0.5pp | 67.4%+2.6pp | 64.8%-1.9pp | 66.8%+1.0pp | 65.7%-1.0pp | 66.7%+3.7pp | 63.0% |
| Operating Margin | 24.3%+11.5pp | 12.8%-9.4pp | 22.2%+0.3pp | 21.9%+4.3pp | 17.6%-6.9pp | 24.6%+3.9pp | 20.6%+2.8pp | 17.8%+4.3pp | 13.5%+4.2pp | 9.3%-33.8pp | 43.1% |
| Net Margin | 17.5%+9.3pp | 8.2%-8.0pp | 16.3%-34.8pp | 51.0%+33.2pp | 17.8%-5.8pp | 23.6%+9.8pp | 13.8%+2.0pp | 11.8%+6.7pp | 5.1%+1.8pp | 3.3%-31.9pp | 35.2% |
| Return on Equity | 34.9%+16.1pp | 18.8%-18.1pp | 36.9%-104.2pp | 141.1%+112.0pp | 29.1%-10.3pp | 39.4%-1.3pp | 40.7%-55.1pp | 95.8% | N/A | 81.1%-13.7pp | 94.9% |
| Return on Assets | 9.3%+5.0pp | 4.3%-4.0pp | 8.3%-16.5pp | 24.9%+19.3pp | 5.5%-1.6pp | 7.1%+1.3pp | 5.8%-0.4pp | 6.2%+3.5pp | 2.7%+1.2pp | 1.5% | N/A |
| Current Ratio | 0.820.0x | 0.78-0.1x | 0.880.0x | 0.91+0.1x | 0.79-0.1x | 0.91+0.1x | 0.81+0.1x | 0.75+0.2x | 0.60-0.3x | 0.88 | N/A |
| Debt-to-Equity | 0.90-0.2x | 1.07-0.1x | 1.14-0.5x | 1.61+0.2x | 1.37-0.2x | 1.61-0.5x | 2.07-3.3x | 5.36 | N/A | 13.04+11.8x | 1.21 |
| Liabilities-to-Equity | 2.76-0.6x | 3.39-0.1x | 3.46-1.3x | 4.72+0.9x | 3.84-0.3x | 4.09-1.3x | 5.38-9.0x | 14.39 | N/A | 48.15 | N/A |
| Asset Turnover | 0.530.0x | 0.530.0x | 0.510.0x | 0.49+0.2x | 0.310.0x | 0.30-0.1x | 0.42-0.1x | 0.530.0x | 0.54+0.1x | 0.47 | N/A |
| FCF Margin | 19.6%+3.1pp | 16.4%-1.5pp | 18.0%-3.4pp | 21.3%-7.0pp | 28.3%-2.3pp | 30.6%+10.6pp | 20.0%-2.9pp | 23.0%+5.2pp | 17.8%0.0pp | 17.8%+12.8pp | 5.0% |
Note: The current ratio is below 1.0 (0.82), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| GSK plc GLAXF | FY2025 | $43.9B | $7.7B | 17.5% | $98.2B | — |
| Sanofi SNYNF | FY2025 | $54.8B | $9.2B | 16.7% | $107.4B | — |
| Novo Nordisk A/S B New NONOF | FY2025 | $48.6B | $16.1B | 33.1% | $174.0B | — |
Where GSK plc Ranks
Frequently Asked Questions
GSK plc (GLAXF) reported $43.9B in total revenue for fiscal year 2025. This represents a 11.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
GSK plc (GLAXF) revenue grew by 11.8% year-over-year, from $39.3B to $43.9B in fiscal year 2025.
Yes, GSK plc (GLAXF) reported a net income of $7.7B in fiscal year 2025, with a net profit margin of 17.5%.
As of fiscal year 2025, GSK plc (GLAXF) had $4.6B in cash and equivalents against $19.8B in long-term debt.
GSK plc (GLAXF) had a gross margin of 72.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
GSK plc (GLAXF) had an operating margin of 24.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
GSK plc (GLAXF) had a net profit margin of 17.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
GSK plc (GLAXF) has a return on equity of 34.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
GSK plc (GLAXF) generated $8.6B in free cash flow during fiscal year 2025. This represents a 33.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
GSK plc (GLAXF) generated $10.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
GSK plc (GLAXF) had $82.2B in total assets as of fiscal year 2025, including both current and long-term assets.
GSK plc (GLAXF) invested $1.8B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
GSK plc (GLAXF) invested $10.1B in research and development during fiscal year 2025.
GSK plc (GLAXF) had a current ratio of 0.82 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
GSK plc (GLAXF) had a debt-to-equity ratio of 0.90 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
GSK plc (GLAXF) had a liabilities-to-equity ratio of 2.76 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
GSK plc (GLAXF) had a return on assets of 9.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
GSK plc (GLAXF) trades at 12.8x earnings, its market capitalization divided by $7.7B net income, FY2025. The market capitalization is $98.2B as of Oct 30, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
GSK plc (GLAXF) trades at 2.2x sales, its market capitalization divided by $43.9B revenue, FY2025. The market capitalization is $98.2B as of Oct 30, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
GSK plc (GLAXF) has an Altman Z-Score of 2.09, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
GSK plc (GLAXF) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
GSK plc (GLAXF) has an earnings quality ratio of 1.35x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
GSK plc (GLAXF) has an interest coverage ratio of 11.32x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.