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.

Q1 2026 & FY 2026-31 Core income statement and product revenue figures are effective 16/04/2026

£m (unless stated)	Q1-26	Q1-26 n=	2026	2027	2028	2029	2030	2031	2026-2031 n=
Turnover - Specialty	3,232	14	15,034	16,662	17,433	17,779	17,059	16,943	14
Turnover - Vaccines	2,032	14	9,088	9,368	9,710	9,984	10,214	10,396	14
Turnover - General Medicines	2,318	14	9,757	9,356	8,989	8,652	8,277	7,756	14
Turnover - GSK	7,582	14	33,879	35,386	36,132	36,415	35,550	35,095	14
Cost of sales	(1,729)	14	(8,303)	(8,590)	(8,822)	(8,976)	(8,805)	(8,681)	14
Selling, general and administration	(2,081)	14	(9,148)	(9,410)	(9,484)	(9,548)	(9,395)	(9,330)	14
Research and Development	(1,498)	14	(6,976)	(7,205)	(7,296)	(7,363)	(7,250)	(7,228)	14
Royalty income	188	14	838	837	693	719	733	688	14
Operating profit	2,462	14	10,290	11,018	11,223	11,247	10,833	10,544	14
Operating margin (%)	32.5%	14	30.4%	31.1%	31.0%	30.9%	30.5%	30.0%	-
Net finance costs	(147)	14	(618)	(551)	(494)	(425)	(360)	(275)	14
Associates	-	14	(3)	(2)	(3)	(3)	(3)	(3)	14
Profit before tax	2,315	14	9,669	10,465	10,726	10,819	10,470	10,266	14
Taxation	(405)	14	(1,691)	(1,837)	(1,886)	(1,904)	(1,845)	(1,812)	14
Tax Rate	17%	14	17%	18%	18%	18%	18%	18%	14
Profit after tax	1,910	14	7,978	8,628	8,840	8,915	8,625	8,454	14
Minority interests	(168)	14	(741)	(773)	(723)	(639)	(488)	(395)	14
Profit attributable to shareholders	1,742	14	7,237	7,855	8,117	8,276	8,137	8,059	14
WANS (m)	4,020	14	4,012	4,011	4,018	4,018	4,014	4,010	14
Earnings per share (p)	43.3	14	180.3	195.9	202.0	206.0	203.1	202.0	14
Dividend per share (p)	17.1	11	69.4	72.0	74.6	76.9	78.5	80.3	13
Free Cash Flow	1,488	2	5,467	6,103	6,452	6,745	6,953	7,216	11
Net Debt	-	-	(12,510)	(9,130)	(5,443)	(1,626)	2,256	6,281	13

USD / GBP	1.35	12	1.34	1.33	1.33	1.33	1.33	1.33	14
EUR / GBP	1.15	11	1.15	1.15	1.15	1.15	1.15	1.15	11
JPY / GBP	211	10	211	211	211	211	211	211	10

The firms included are Bank of America, Barclays, Berenberg, BNP Paribas Exane, Citi, Deutsche Bank, Goldman Sachs, Guggenheim Securities, Jefferies, JP Morgan, Morgan Stanley, Redburn, TD Cowen, UBS

Turnover £m	Q1-26	Q1-26 n=	2026	2027	2028	2029	2030	2031	2026-2031 n=

Tivicay	286	12	1,232	1,130	664	394	252	186	12
Triumeq	190	14	796	655	361	179	110	74	12
Juluca	148	14	644	634	611	546	288	116	14
Dovato	639	14	2,995	3,209	3,240	2,694	1,068	680	14
Dolutegravir based regimens	1,263	14	5,667	5,628	4,876	3,813	1,718	1,056	14
Cabenuva	372	14	1,739	2,016	2,246	2,322	2,386	1,971	14
Apretude	119	14	547	619	656	681	701	551	14
Cabotegravir based regimens	491	14	*2,286*	*2,635*	*2,902*	*3,003*	*3,087*	*2,522*	14
HIV Pipeline	-	12	-	53	187	428	700	1,025	12
Other HIV	43	14	204	211	215	207	189	180	14
HIV	1,797	14	8,157	8,527	8,180	7,451	5,694	4,783	14

Benlysta	396	14	1,948	2,076	2,162	2,226	2,212	2,089	14
Nucala	493	14	2,175	2,233	2,167	1,964	1,739	1,535	14
depemokimab	13	14	187	529	875	1,230	1,575	1,882	14
IL-5 Portfolio	506	14	*2,362*	*2,762*	*3,042*	*3,194*	*3,314*	*3,417*	14
camlipixant	-	14	-	53	133	226	324	418	14
bepirovirsen	-	14	7	90	211	335	472	590	14
Xevudy	-	-	-	-	-	-	-	-	-
Other RI&I (including pipeline)	3	14	31	41	64	176	367	630	14
Respiratory, Immunology and Inflammation (RI&I)	905	14	4,348	5,022	5,612	6,157	6,689	7,144	14

Zejula	121	14	528	529	513	497	476	328	14
Blenrep	18	14	158	387	651	907	1,132	1,332	14
Jemperli	243	14	1,142	1,363	1,539	1,670	1,774	1,855	14
Ojjaara	149	14	701	828	910	976	1,029	1,068	14
Other Oncology (including pipeline)	(1)	14	-	6	28	121	265	433	14
Oncology	530	14	2,529	3,113	3,641	4,171	4,676	5,016	14

Specialty Medicines	3,232	14	15,034	16,662	17,433	17,779	17,059	16,943	14

The firms included are Bank of America, Barclays, Berenberg, BNP Paribas Exane, Citi, Deutsche Bank, Goldman Sachs, Guggenheim Securities, Jefferies, JP Morgan, Morgan Stanley, Redburn, TD Cowen, UBS

Turnover £m	Q1-26	Q1-26 n=	2026	2027	2028	2029	2030	2031	2026-2031 n=
Shingrix	851	14	3,571	3,634	3,694	3,760	3,793	3,764	14
Arexvy	75	14	601	720	883	950	987	1,018	14
Bexsero	249	14	1,163	1,174	1,177	1,177	1,176	1,176	14
Menveo	85	14	397	400	401	402	404	407	14
Penmenvy	10	13	70	142	205	263	318	361	13
Other Meningitis	4	8	13	13	13	13	13	13	8
Meningitis	348	14	1,643	1,729	1,796	1,855	1,911	1,957	14
Established Flu	3	14	263	249	241	234	228	223	14
Boostrix	143	14	641	645	651	657	662	668	14
Hepatitis	160	14	624	627	633	640	646	653	14
Infanrix, Pediarix	134	14	495	491	491	494	498	503	14
Priorix	97	7	417	428	431	434	437	440	7
Rotarix	133	14	530	528	529	530	532	533	14
Other established vaccines	88	14	303	287	278	271	263	259	-
Other Paediatric & Adult Vaccines	755	14	3,010	3,006	3,013	3,026	3,038	3,056	14
Vaccines pipeline	-	14	-	30	83	159	257	378	14
Pandemic solutions	-	-	-	-	-	-	-	-	-

Vaccines	2,032	14	9,088	9,368	9,710	9,984	10,214	10,396	14

The firms included are Bank of America, Barclays, Berenberg, BNP Paribas Exane, Citi, Deutsche Bank, Goldman Sachs, Guggenheim Securities, Jefferies, JP Morgan, Morgan Stanley, Redburn, TD Cowen, UBS

Turnover £m	Q1-26	Q1-26 n=	2026	2027	2028	2029	2030	2031	2026-2031 n=
Anoro	119	13	489	484	460	412	360	318	13
Flixotide/Flovent	85	13	350	332	316	300	284	269	13
Relvar/Breo	243	14	983	905	827	729	648	568	14
Seretide/Advair	185	14	735	660	605	560	518	482	14
Trelegy	663	14	3,107	2,938	2,778	2,679	2,525	2,213	14
Ventolin	164	13	605	574	548	523	503	483	13
Other respiratory	124	14	599	574	548	521	498	473	-
Respiratory	1,583	14	*6,868*	*6,467*	*6,082*	*5,724*	*5,336*	*4,806*	14
Blujepa (gepotidacin)	4	14	57	138	218	284	337	383	14
Other General Medicines (incl pipeline)	731	14	2,832	2,751	2,689	2,644	2,604	2,567	14
Other General Medicines	735	14	2,889	2,889	2,907	2,928	2,941	2,950	-

General Medicines	2,318	14	9,757	9,356	8,989	8,652	8,277	7,756	14

The firms included are Bank of America, Barclays, Berenberg, BNP Paribas Exane, Citi, Deutsche Bank, Goldman Sachs, Guggenheim Securities, Jefferies, JP Morgan, Morgan Stanley, Redburn, TD Cowen, UBS