GSK plc
Shortcut
0.508Normalized basic EPS
-0.3% vs Street
Street
0.510Normalized basic EPS
October 25 consensus snapshot
Real
0.546Core basic EPS
Model download
Explore the assumptions and calculations behind the forecast.
Shortcut’s reasoning.
Product-level build (three segment tabs) gives turnover £8,782m (+2.7% AER, +3.8% CER, FX -1% per GSK aide memoire), ~0.6% below consensus data £8,834m: Specialty £3,842m (HIV LAIs, Nucala COPD), Vaccines £2,594m (Shingrix Europe annualising, weak International, tough Arexvy/flu base), General Medicines £2,346m.
Core OP £2,952m (33.6% margin): Core COGS 23.2% of sales (H1 26 mix gains partly persist), SG&A +2.6% ("broadly stable" FY guide), R&D +16.6% (20+ phase III starts plus Nuvalent from 15-Jul-26), royalties £232m (FY £850-900m guide).
Below the line: net finance -£255m (FY ~£800m incl. Nuvalent debt), Core tax 17.4% (vs 16.0% year-ago comparator flagged by GSK), NCI £188m; basic WANS 4,009m pre-announced by GSK -> Core EPS £0.5083 vs frozen consensus £0.51 (company-compiled 50.4p, RBC 50.8p).
On the record.
- Reporting period
- Q3 2026 (FQ3 2026 - Sep 2026)
- Reporting basis
- GSK Core EPS on basic WANS, matched to frozen consensus normalized actuals
- Consensus snapshot
- October 25, 2026
- Model / effort
- Opus 5.5 · High effort
- Workbook
- Reviewed workbook
Record history
- Forecast generated
- Oct 26, 2026 at 10:40 AM PDT
- Reviewed revision completed
- Oct 26, 2026 at 10:40 AM PDT
- First published
- Oct 26, 2026 at 11:39 AM PDT
Result basis
GSK reports Core basic EPS 54.6p, or GBP0.546 per London ordinary share, and total basic EPS 38.5p for September 30,2026. The Core reconciliation on printed page 16 uses GBP2,189m attributable earnings and 4,009m basic shares; printed page 30 separately identifies 4,073m diluted shares. This matches the published basic Core convention. No ADS, USD or diluted conversion is used.