Illumina, Inc.
Rank #116Capital ReturnILMN · Nasdaq · Healthcare
Illumina, Inc. (ILMN) — Rank #116 by gross profitability (GP/assets 0.43) · ROE 30.0% · Piotroski F-Score N/A.
As-of 2026-09-15 · CIK 0001110803 · all metrics point-in-time as of the filing date.
About
Illumina, Inc. provides sequencing- and array-based solutions for genetic and genomic analysis in the Americas, Europe, Greater China, the Asia Pacific, the Middle East, and Africa.
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The company offers sequencing- and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest. It also provides whole-genome sequencing, genotyping, noninvasive prenatal testing, and product support services. The company serves genomic research centers, academic institutions, government laboratories, and hospitals, as well as pharmaceutical, biotechnology, commercial molecular diagnostic laboratories, and consumer genomics companies. The company markets and distributes its products directly to customers, as well as through life-science distributors. The company has a collaboration with Labcorp Holdings Inc. for the development of oncology treatments through applications of sequencing solutions across the healthcare ecosystem; and strategic collaboration with Integrated DNA Technologies to enable a DRAGEN, secondary analysis pipeline for IDT xGena, FFPE and cfDNA next generation sequencing (NGS) library preparation with custom panels, delivering an integrated, end-to-end solution for somatic oncology research. It also has a data partnership with Center for Data-Driven Discovery in Biomedicine to advance research in pediatric cancer and rare disease. Illumina, Inc.
was incorporated in 1998 and is headquartered in San Diego, California.
- Industry
- Diagnostics & Research
- Sector
- Healthcare
- State
- DE
- Filer Category
- Large accelerated filer
- Fiscal Year End
- January 3
- Website
- illumina.com
Price History
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
$33.58B
P/E (annual)
40.8
P/S (annual)
7.7
P/B
11.8
P/OCF (annual)
31.1
Shareholder Yield
1.9%
Employees
8,600
Industry
Diagnostics & Research
Exchange
Nasdaq
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passTerry Smith quality gate
Passes 2/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
16.2%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Buyback tailwind: -1.9% — per-share value needs a total required return of 14.3% once share-count change is priced in.
vs. own 6-year median revenue growth: -1.2%
Cost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
11.4%
r = 10% (base)
16.2%
r = 12%
20.3%
Net debt / market cap: -3.4%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.43
Primary signal (Novy-Marx).
75th pctl of 37 SIC 38 peers
Return on equity
30.0%
Gross margin
66.1%
75th pctl of 37 SIC 38 peers
Revenue growth (YoY)
-0.7%
RPO growth (YoY)
12.3%
Remaining performance obligations growth — RPO > revenue = forward demand building.
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2023 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
-1.8%
Revenue CAGR (5Y)
6.0%
Earnings CAGR (3Y)
—
FCF CAGR (3Y)
106.3%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.34
24th pctl of 35 SIC 38 peers (best = lowest)
Current ratio
1.80×
20th pctl of 36 SIC 38 peers
Quick ratio
1.22×
Net cash
$1.17B
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$931.00M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.10
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
6.3%
Stock-based comp intensity.
Piotroski F-Score
F-Score
N/A
Only 8/9 components determinable.