Analyst consensus
The consensus estimates are collected by the company and based on the estimates of brokerage firms covering GSK. Please ensure you have read and acknowledged the disclaimer prior to reviewing the information provided.
- 2025-31 Core income statement and product revenue figures are as at 11/09/2025
- Q3 2025 Core income statement and product revenue figures are as at 21/10/2025
| £m (unless stated) | Q3'25 | Q3'25 n= | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2025-2030 n= |
|---|---|---|---|---|---|---|---|---|---|---|
| Turnover - Specialty Medicines | 3,330 | 12 | 13,105 | 14,465 | 15,844 | 16,427 | 16,457 | 16,009 | 15,320 | 12 |
| Turnover - Vaccines | 2,545 | 12 | 8,867 | 9,103 | 9,455 | 9,868 | 10,202 | 10,512 | 10,861 | 12 |
| Turnover - General Medicines | 2,366 | 12 | 10,000 | 9,923 | 9,476 | 9,058 | 8,643 | 8,154 | 7,717 | 12 |
| Turnover - GSK excluding pandemic solutions |
8,241 | 12 | 31,973 | 33,490 | 34,775 | 35,353 | 35,302 | 34,674 | 33,897 | 12 |
| Turnover - pandemic solutions | - | 12 | - | - | - | - | - | - | - | 12 |
| Turnover - GSK | 8,241 | 12 | 31,973 | 33,490 | 34,775 | 35,353 | 35,302 | 34,674 | 33,897 | 12 |
| Cost of sales | (2,001) | 12 | (7,938) | (8,198) | (8,457) | (8,663) | (8,766) | (8,647) | (8,424) | 12 |
| Selling, general and administration | (2,183) | 12 | (9,080) | (9,340) | (9,616) | (9,720) | (9,799) | (9,676) | (9,545) | 12 |
| Research and Development | (1,568) | 12 | (6,348) | (6,601) | (6,767) | (6,819) | (6,876) | (6,844) | (6,782) | 12 |
| Royalty income | 182 | 12 | 790 | 757 | 766 | 633 | 630 | 639 | 596 | 12 |
| Operating profit | 2,671 | 12 | 9,396 | 10,108 | 10,699 | 10,784 | 10,491 | 10,146 | 9,742 | 12 |
| Operating margin (%) | 32.4% | 29.4% | 30.2% | 30.8% | 30.5% | 29.7% | 29.3% | 28.7% | ||
| Net finance costs | (161) | 12 | (586) | (568) | (523) | (472) | (407) | (352) | (265) | 12 |
| Associates | - | 12 | (2) | (1) | (1) | (1) | (1) | (1) | (2) | 12 |
| Profit before tax | 2,510 | 12 | 8,809 | 9,539 | 10,175 | 10,311 | 10,083 | 9,793 | 9,475 | 12 |
| Taxation | (439) | 12 | (1,541) | (1,685) | (1,806) | (1,830) | (1,791) | (1,740) | (1,688) | 12 |
| Tax Rate | 17.5% | 12 | 17.5% | 17.7% | 17.8% | 17.8% | 17.8% | 17.8% | 17.8% | 12 |
| Profit after tax | 2,071 | 12 | 7,268 | 7,855 | 8,369 | 8,481 | 8,292 | 8,053 | 7,788 | 12 |
| Minority interests | (171) | 12 | (678) | (708) | (733) | (678) | (588) | (477) | (347) | 12 |
| Profit attributable to shareholders | 1,900 | 12 | 6,590 | 7,146 | 7,635 | 7,803 | 7,705 | 7,577 | 7,441 | 12 |
| WANS (m) | 4,036 | 12 | 4,044 | 4,004 | 4,001 | 3,998 | 3,995 | 3,991 | 3,987 | 12 |
| Earnings per share (p) | 47.1 | 12 | 163.0 | 178.5 | 190.9 | 195.2 | 193.0 | 190.4 | 188.1 | 12 |
| Dividend per share (p) | 16.0 | 9 | 63.6 | 65.9 | 68.5 | 71.2 | 72.7 | 73.6 | 75.2 | 11 |
| Free Cash Flow | n/a | n/a | 3,239 | 5,717 | 6,153 | 6,475 | 6,526 | 6,593 | 6,675 | 10 |
| Net Debt | n/a | n/a | (15,111) | (12,554) | (9,539) | (6,510) | (3,403) | (285) | 2,927 | 10 |
| USD / GBP | 1.35 | 12 | 1.32 | 1.34 | 1.34 | 1.34 | 1.34 | 1.34 | 1.34 | 12 |
| EUR / GBP | 1.16 | 11 | 1.17 | 1.16 | 1.16 | 1.16 | 1.16 | 1.16 | 1.17 | 11 |
| JPY / GBP | 199 | 8 | 195 | 197 | 197 | 197 | 197 | 197 | 197 | 8 |
The firms included are Bank of America, Barclays, Berenberg, BNP Paribas Exane, Deutsche Bank, Goldman Sachs, Guggenheim Securities, JP Morgan, Morgan Stanley, Redburn, TD Cowen, UBS
.