Financials GSK plc

Equities

GSK

GB00BN7SWP63

Pharmaceuticals

Market Closed - London S.E. Other stock markets 09:05:09 11/07/2025 pm IST			5-day change	1st Jan Change
1,408.50 ^GBX	-3.16%		+0.25%	+4.60%

11/07	Sector Update: Health Care Stocks Slide Friday Afternoon	MT
11/07	FTSE 100 eases from record levels amid soft GDP	AN

Projected Income Statement: GSK plc

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	34,099	34,114	29,324	30,328	31,376	32,002	33,749	35,290
Change	-	0.04%	-14.04%	3.42%	3.46%	1.99%	5.46%	4.57%
EBITDA ¹	9,530	11,330	10,449	11,635	10,693	10,813	11,729	12,402
Change	-	18.89%	-7.78%	11.35%	-8.1%	1.12%	8.47%	5.74%
EBIT ¹	8,906	8,806	8,151	8,786	9,148	9,425	10,289	11,054
Change	-	-1.12%	-7.44%	7.79%	4.12%	3.03%	9.17%	7.44%
Interest Paid ¹	-848	-756	-803	-677	-547	-626.2	-582.9	-532.2
Earnings before Tax (EBT) ¹	6,968	5,442	5,628	6,064	3,477	7,247	8,409	9,303
Change	-	-21.9%	3.42%	7.75%	-42.66%	108.43%	16.03%	10.63%
Net income ¹	5,749	4,385	14,956	4,928	2,575	5,710	6,426	6,831
Change	-	-23.73%	241.07%	-67.05%	-47.75%	121.75%	12.54%	6.29%
Announcement Date	03/02/21	09/02/22	01/02/23	31/01/24	05/02/25	-	-	-

¹GBP in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	7,624	8,646	8,739	7,418	8,092	9,077	9,527	9,780	6,929	7,829	7,376	6,951	7,178	8,147	8,052	7,363	7,884	8,012	8,117	7,516	7,829	8,169	8,371	7,615	8,275	8,660	8,835
Change	-	13.41%	1.08%	-15.12%	9.09%	12.17%	4.96%	2.66%	-29.15%	12.99%	-5.79%	-5.76%	3.27%	13.5%	-1.17%	-8.56%	7.08%	1.62%	1.31%	-7.4%	4.17%	4.34%	2.47%	-9.03%	8.67%	4.65%	2.02%
EBITDA ¹	2,526	2,024	2,111	2,041	2,822	3,860	2,406	3,317	2,639	3,561	1,602	2,732	2,622	3,351	2,930	2,992	3,152	3,712	837	3,356	2,703	2,997	1,948	-	-	-	-
Change	-	-19.87%	4.3%	-3.32%	38.27%	36.78%	-37.67%	37.86%	-20.44%	34.94%	-55.01%	70.54%	-4.03%	27.8%	-12.56%	2.12%	5.35%	17.77%	-77.45%	300.96%	-19.45%	10.86%	-35%	-	-	-	-
EBIT ¹	1,749	2,665	1,817	1,881	2,158	2,874	1,893	2,613	2,008	2,605	1,595	2,092	2,170	2,772	1,752	2,443	2,513	2,761	1,431	2,533	2,421	2,710	1,583	2,524	2,720	3,150	1,805
Change	-	52.37%	-31.82%	3.52%	14.73%	33.18%	-34.13%	38.03%	-23.15%	29.73%	-38.77%	31.16%	3.73%	27.74%	-36.8%	39.44%	2.87%	9.87%	-48.17%	77.01%	-4.44%	11.96%	-41.58%	59.42%	7.77%	15.81%	-42.7%
Charge d'intérêts ¹	-227	-198	-234	-191	-185	-193	-187	-202	-183	-177	-244	-174	-152	-158	-193	-134	-150	-124	-139	-101	-185	-175	-169	-150	-150	-150	-150
Earnings before Tax (EBT)	2,641	1,671	821	1,518	1,470	1,748	706	2,598	896	1,012	1,626	1,907	1,987	1,791	379	1,355	1,495	64	563	2,108	-	-	-	-	-	-	-
Change	-	-36.73%	-50.87%	84.9%	-3.16%	18.91%	-59.61%	267.99%	-65.51%	12.95%	60.67%	17.28%	4.2%	-9.86%	-78.84%	257.52%	10.33%	-95.72%	779.69%	274.42%	-	-	-	-	-	-	-
Net income ¹	2,263	1,244	677	1,073	1,395	1,168	749	1,802	975	10,315	1,495	1,490	1,624	1,464	350	1,046	1,173	-58	414	1,624	1,397	1,640	902.3	-	-	-	-
Change	-	-45.03%	-45.58%	58.49%	30.01%	-16.27%	-35.87%	140.59%	-45.89%	957.95%	-85.51%	-0.33%	8.99%	-9.85%	-76.09%	198.86%	12.14%	-104.94%	813.79%	292.27%	-13.96%	17.34%	-44.97%	-	-	-	-
Announcement Date	29/07/20	28/10/20	03/02/21	28/04/21	28/07/21	27/10/21	09/02/22	27/04/22	27/07/22	02/11/22	01/02/23	26/04/23	26/07/23	01/11/23	31/01/24	01/05/24	31/07/24	30/10/24	05/02/25	30/04/25	-	-	-	-	-	-	-

¹GBP in Million

Estimates

Forecast Balance Sheet: GSK plc

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	20,780	19,838	17,197	15,040	13,095	13,303	10,643	7,635
Change	-	-4.53%	-13.31%	-12.54%	-12.93%	1.59%	-20%	-28.26%
Announcement Date	03/02/21	09/02/22	01/02/23	31/01/24	05/02/25	-	-	-

¹GBP in Million

Estimates

Cash Flow Forecast: GSK plc

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	1,226	1,172	1,143	1,314	1,334	1,434	1,504	1,576
Change	-	-4.4%	-2.47%	14.96%	1.52%	7.46%	4.9%	4.83%
Free Cash Flow (FCF) ¹	5,406	4,437	6,260	5,454	5,220	5,107	6,630	7,140
Change	-	-17.92%	41.09%	-12.88%	-4.29%	-2.16%	29.81%	7.7%
Announcement Date	03/02/21	09/02/22	01/02/23	31/01/24	05/02/25	-	-	-

¹GBP in Million

Estimates

Forecast Financial Ratios: GSK plc

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	27.95%	33.21%	35.63%	38.36%	34.08%	33.79%	34.75%	35.14%
EBIT Margin (%)	26.12%	25.81%	27.8%	28.97%	29.16%	29.45%	30.49%	31.32%
EBT Margin (%)	20.43%	15.95%	19.19%	19.99%	11.08%	22.65%	24.92%	26.36%
Net margin (%)	16.86%	12.85%	51%	16.25%	8.21%	17.84%	19.04%	19.36%
FCF margin (%)	15.85%	13.01%	21.35%	17.98%	16.64%	15.96%	19.64%	20.23%
FCF / Net Income (%)	94.03%	101.19%	41.86%	110.67%	202.72%	89.44%	103.17%	104.53%
Profitability
ROA	7.18%	5.5%	8.08%	10.55%	10.97%	9.84%	10.71%	10.73%
ROE	44.39%	38.22%	43.85%	52.48%	48.09%	45.36%	43.37%	36.46%
Financial Health
Leverage (Debt/EBITDA)	2.18x	1.75x	1.65x	1.29x	1.22x	1.23x	0.91x	0.62x
Debt / Free cash flow	3.84x	4.47x	2.75x	2.76x	2.51x	2.6x	1.61x	1.07x
Capital Intensity
CAPEX / Current Assets (%)	3.6%	3.44%	3.9%	4.33%	4.25%	4.48%	4.46%	4.47%
CAPEX / EBITDA (%)	12.86%	10.34%	10.94%	11.29%	12.48%	13.26%	12.82%	12.71%
CAPEX / FCF (%)	22.68%	26.41%	18.26%	24.09%	25.56%	28.07%	22.68%	22.08%
Items per share
Cash flow per share ¹	2.094	1.962	1.813	1.67	1.608	1.757	2.142	2.386
Change	-	-6.3%	-7.63%	-7.86%	-3.75%	9.32%	21.89%	11.4%
Dividend per Share ¹	1	1	0.6125	0.58	0.61	0.65	0.6897	0.7349
Change	-	0%	-38.75%	-5.31%	5.17%	6.56%	6.11%	6.56%
Book Value Per Share ¹	3.661	3.758	2.627	3.294	3.353	3.661	4.426	5.251
Change	-	2.65%	-30.09%	25.38%	1.8%	9.19%	20.88%	18.64%
EPS ¹	1.426	1.082	3.662	1.216	0.632	1.422	1.601	1.714
Change	-	-24.1%	238.29%	-66.79%	-48.03%	125.02%	12.59%	7.07%
Nbr of stocks (in thousands)	39,82,185	40,06,383	40,60,999	40,76,145	40,80,519	40,46,081	40,46,081	40,46,081
Announcement Date	03/02/21	09/02/22	01/02/23	31/01/24	05/02/25	-	-	-