ILMN · Nasdaq · Healthcare
Illumina, Inc. (ILMN) — Rank #114 by gross profitability (GP/assets 0.43) · ROE 30.0% · Piotroski F-Score N/A.
As-of 2026-10-30 · 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
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
8,600
Industry
Diagnostics & Research
Exchange
Nasdaq
10/11
Flags passed
ILMN fails 1 critical flag
Passes 10 of 11 quality flags
- FAILRevenue declining YoY
Revenue contracted year over year
- PASSGross margin holding
- PASSDilution within 2%
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSOperating margin holding
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Revenue growth accelerating · RPO outpacing revenue · Sequential beat (rev + EPS)
No data Balance sheet — not counted as a pass.
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passFCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Does it make money well?
Warning: Revenue declining YoY · GP/assets 72nd percentile of 41 SIC 38 peers
Gross profitability (GP / assets)
0.43
Primary signal (Novy-Marx).
72nd pctl of 41 SIC 38 peers
Return on equity
30.0%
Gross margin
66.1%
75th pctl of 41 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%
Cash Flow Health
Is the cash real?
No warning flags · FCF 10% above net income
Free cash flow
$931.00M
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
9.5%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
6.3%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
No warning flags · net cash $1.17B
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.34
21st pctl of 40 SIC 38 peers (best = lowest)
Current ratio
1.80×
13th pctl of 40 SIC 38 peers
Quick ratio
1.22×
Net cash
$1.17B
Cash & equivalents minus total debt.
Piotroski F-Score
N/A
Only 8/9 components determinable.
Valuation
Is the price reasonable?
No warning flags
Capital allocation quality
Composite score
3.7 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports