Financials · GSK

GSK plc (GSK) financials

For fiscal 2025 (ended Dec 31, 2025), GSK plc reported £32.67B of revenue and £5.72B of net income. Figures are in GBP, the currency of its SEC filings.

Revenue, FY2025
£32.67B
Revenue growth, YoY
+4.1%
Net income, FY2025
£5.72B
Net income growth, YoY
+122.0%
Net margin
17.5%
Free cash flow, FY2025
£6.39B
EPS, diluted, FY2025
£1.39
EPS growth, YoY
+123.2%
Cash
£3.40B
Total debt
£14.71B
Annual revenue£32.67B
FY2016FY2025
Annual net income£5.72B
FY2016FY2025
Annual free cash flow£6.39B
FY2016FY2025

GSK revenue and earnings growth

GSK revenueFY2025£32.67B

FY YoY
+4.1%
5Y CAGR
+6.0%
10Y CAGR
+3.2%

GSK revenue was £32.67B for fiscal 2025 (ended Dec 31, 2025), up 4.1% from fiscal 2024. Compound annual growth was +6.0% over 5 years and +3.2% over 10 years. It rose in 9 of the last 10 fiscal years.

GSK net incomeFY2025£5.72B

FY YoY
+122.0%
5Y CAGR
-0.1%
10Y CAGR
-3.8%

GSK net income was £5.72B for fiscal 2025 (ended Dec 31, 2025), up 122.0% from fiscal 2024. Compound annual growth was -0.1% over 5 years and -3.8% over 10 years. It rose in 6 of the last 10 fiscal years.

GSK EPSFY2025£1.39

FY YoY
+123.2%
5Y CAGR
-0.5%
10Y CAGR
-4.3%

GSK diluted EPS was £1.39 for fiscal 2025 (ended Dec 31, 2025), up 123.2% from fiscal 2024. Compound annual growth was -0.5% over 5 years and -4.3% over 10 years.

GSK free cash flowFY2025£6.39B

FY YoY
+24.0%
5Y CAGR
-3.0%
10Y CAGR
+18.3%

GSK free cash flow was £6.39B for fiscal 2025 (ended Dec 31, 2025), up 24.0% from fiscal 2024. Compound annual growth was -3.0% over 5 years and +18.3% over 10 years. It rose in 5 of the last 10 fiscal years.

Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue£32.67B£31.38B£30.33B£29.32B£24.70B£24.35B£33.75B£30.82B£30.19B£27.89B
Cost of revenue£9.02B£9.05B£8.56B£9.55B£8.16B£7.93B£11.86B£10.24B£10.34B£9.29B
Gross profit£23.65B£22.33B£21.76B£19.77B£16.53B£16.43B£21.89B£20.58B£19.84B£18.60B
Research and development£7.53B£6.40B£6.22B£5.49B£5.02B£4.79B£4.57B£3.89B£4.48B£3.63B
Selling, general and admin£9.09B£11.02B£9.38B£8.37B£7.07B£7.44B£11.40B£9.91B£9.67B£9.37B
Operating income£7.93B£4.02B£6.75B£6.43B£4.36B£5.98B£6.96B£5.48B£4.09B£2.60B
Interest expense£701.00M£669.00M£792.00M£879.00M£769.00M£874.00M£912.00M£798.00M£734.00M£736.00M
Pre-tax income£7.40B£3.48B£6.06B£5.63B£3.60B£5.17B£6.22B£4.80B£3.52B£1.94B
Income tax£1.11B£526.00M£756.00M£707.00M£83.00M£67.00M£953.00M£754.00M£1.36B£877.00M
Net income£5.72B£2.58B£4.93B£14.96B£4.38B£5.75B£4.64B£3.62B£1.53B£912.00M
EPS, basic£1.41£0.63£1.22£3.71£1.10£1.44£1.17£0.92£0.39£0.23
EPS, diluted£1.39£0.62£1.20£3.66£1.08£1.43£1.16£0.91£0.39£0.23
Diluted shares4.12B4.14B4.11B4.08B4.05B4.03B4.01B3.98B3.95B3.93B

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents£3.40B£3.87B£2.94B£3.72B£4.27B£6.29B£4.71B£3.87B£3.83B£4.90B
Receivables£7.47B£6.84B£7.38B£7.05B£7.86B£6.95B£7.20B£6.42B£6.00B£6.03B
Inventory£5.92B£5.67B£5.50B£5.15B£5.78B£6.00B£5.95B£5.48B£5.56B£5.10B
Current assets£17.51B£17.00B£18.64B£20.77B£18.67B£20.25B£19.49B£16.93B£15.91B£16.71B
Goodwill£7.02B£6.98B£6.81B£7.05B£10.55B£10.60B£10.56B£5.79B£5.73B£5.96B
Total assets£61.12B£59.46B£59.01B£60.15B£79.10B£80.43B£79.69B£58.07B£56.38B£59.08B
Current liabilities£21.39B£21.70B£21.07B£22.81B£23.67B£22.15B£24.05B£22.49B£26.57B£19.00B
Long-term debt£14.71B£14.64B£15.21B£17.04B£20.57B£23.43B£23.59B£20.27B£14.26B£14.66B
Total debt£14.71B£14.64B£15.21B£17.04B£20.57B£23.43B£23.59B£20.27B£14.26B£14.66B
Total liabilities£45.16B£46.38B£46.21B£50.05B£57.76B£59.62B£61.34B£54.39B£52.89B£54.12B
Shareholders' equity£16.38B£13.67B£12.79B£10.10B£21.34B£20.81B£18.36B£3.67B£3.49B£4.96B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow£7.74B£6.55B£6.77B£7.40B£7.95B£8.44B£8.02B£8.42B£6.92B£6.50B
Capital expenditures£1.35B£1.40B£1.31B£1.14B£950.00M£989.00M£1.26B£1.34B£1.54B£1.54B
Free cash flow£6.39B£5.16B£5.45B£6.26B£7.00B£7.45B£6.75B£7.08B£5.37B£4.95B
Investing cash flow-£4.23B-£1.23B-£1.59B-£8.77B-£1.78B£2.16B-£5.35B-£1.55B-£1.44B-£1.27B
Financing cash flow-£3.69B-£4.73B-£5.64B£823.00M-£7.59B-£10.13B-£1.84B-£6.39B-£6.38B-£6.39B
Dividends paid---------£3.91B-
Share repurchases£1.38B£0£0-------
Stock-based compensation£374.00M£344.00M£307.00M£346.00M£343.00M£337.00M£365.00M£360.00M£333.00M£319.00M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY4.1%3.5%3.4%18.7%1.4%-27.8%9.5%2.1%8.2%16.6%
Net income growth, YoY122.0%-47.7%-67.1%241.1%-23.7%23.8%28.2%136.5%68.0%-89.2%
EPS growth, YoY123.2%-48.1%-67.3%238.4%-24.1%23.2%27.0%135.2%66.7%-89.2%
Gross margin72.4%71.2%71.8%67.4%66.9%67.4%64.9%66.8%65.7%66.7%
Operating margin24.3%12.8%22.2%21.9%17.6%24.6%20.6%17.8%13.5%9.3%
Net margin17.5%8.2%16.2%51.0%17.8%23.6%13.8%11.8%5.1%3.3%
Free cash flow margin19.6%16.4%18.0%21.3%28.4%30.6%20.0%23.0%17.8%17.8%
Return on equity34.9%18.8%38.5%148.1%20.5%27.6%25.3%98.7%43.9%18.4%
Return on assets9.4%4.3%8.4%24.9%5.5%7.1%5.8%6.2%2.7%1.5%
Current ratio0.820.780.880.910.790.910.810.750.600.88
Debt to equity0.901.071.191.690.961.131.295.524.092.95

Source: XBRL data GSK plc files with the SEC, latest filing dated Mar 6, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

Per-share figures and share counts are restated for stock splits the filings show: 4-for-5, first reported Mar 10, 2023.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.

GSK peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
GSK£32.67B+4.1%£5.72B17.5%$101.80B
JNJ$99.33B+7.8%$16.09B16.2%$664.95B
NVS$54.53B+8.4%$13.98B25.6%$310.17B
AZN$58.74B+8.6%$10.22B17.4%$289.10B
SNY€43.63B+6.2%€7.81B17.9%$114.71B

GSK FAQ

9 questions
  • What is GSK revenue?
    GSK plc (GSK) reported £32.67B of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 4.1% from the year before.
  • Is GSK profitable?
    Yes. GSK plc earned £5.72B in net income for fiscal 2025 (ended Dec 31, 2025), a net margin of 17.5%.
  • How much cash and debt does GSK have?
    GSK plc reported £3.40B in cash and cash equivalents and £14.71B of debt on its most recent balance sheet in SEC filings.
  • How fast is GSK revenue growing?
    GSK plc's revenue changed +4.1% in fiscal 2025, to £32.67B. Its compound annual growth rate was +6.0% over 5 years and +3.2% over 10 years.
  • What is GSK gross margin?
    GSK plc's gross profit was £23.65B on £32.67B of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 72.4%.
  • What is GSK free cash flow?
    GSK plc generated £6.39B of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of £7.74B less capital expenditures.
  • What is GSK earnings per share?
    Diluted earnings per share were £1.39 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.
  • When did GSK last report financial results?
    The latest statements here come from GSK plc's 20-F filed on Mar 6, 2026, covering the period ended Dec 31, 2025.
  • Where does this GSK financial data come from?
    Quantisnow builds these statements from the structured XBRL data GSK plc files with the SEC. It is provided for information only and is not investment advice.