Illumina, Inc. (ILMN) 10-Year Financial Performance & Capital Metrics

ILMN • • Industrial / General

HealthcareDiagnostics & ResearchLife Sciences Instrumentation & ToolsNext-Generation Sequencing Platforms

AboutIllumina, Inc. provides sequencing and array-based solutions for genetic and genomic analysis. Its products and services serve customers in a range of markets enabling the adoption of genomic solutions in research and clinical settings for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. The company provides instruments and consumables used in genetic analysis; and genotyping and sequencing services, instrument service contracts, and development and licensing agreements, as well as cancer detection testing services. Its customers include 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 in North America, Europe, Latin America, and the Asia-Pacific region, as well as sells through life-science distributors in various markets within Europe, the Asia-Pacific region, Latin America, the Middle East, and Africa. The company was incorporated in 1998 and is based in San Diego, California.Show more

Revenue $4.37B -2.9%
EBITDA -$479M +24.8%
Net Income -$1.22B -5.3%
EPS (Diluted) -7.69 -4.6%
Gross Margin 65.44% +7.4%
EBITDA Margin -10.96% +22.5%
Operating Margin -19.05% +19.7%
Net Margin -27.97% -8.5%
ROE -30.13% -60.2%
ROIC -11.54% -8.7%
Debt/Equity 1.10 +180.6%
Interest Coverage -8.33 +40.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 16.2% free cash flow margin
✓Momentum leader: RS Rating 87 (top 13%)
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.91%

5Y4.29%

3Y-1.15%

TTM-2.35%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM144.38%

EPS CAGR

10Y-

5Y-

3Y-

TTM144.54%

ROCE

10Y Avg3.7%

5Y Avg-10.42%

3Y Avg-19.93%

Latest-12.53%

Peer Comparison

Next-Generation Sequencing Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BNGOBionano Genomics, Inc.	15.47M	1.52	-0.02	-14.79%	-134.36%	-77.49%		0.77
ATLNAtlantic International Corp.	135.19M	2.31	-0.63	10.27%	-22.66%
ILMNIllumina, Inc.	22.2B	145.30	-18.89	-2.93%	16.4%	29.53%	3.19%	1.10

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Jan 2021	Jan 2022	Jan 2023	Dec 2023	Dec 2024
Sales/Revenue+	2.22B	2.4B	2.75B	3.33B	3.54B	3.24B	4.53B	4.58B	4.5B	4.37B
Revenue Growth %	0.19%	0.08%	0.15%	0.21%	0.06%	-0.09%	0.4%	0.01%	-0.02%	-0.03%
Cost of Goods Sold+	671M	732M	926M	1.03B	1.08B	1.04B	1.37B	1.61B	1.76B	1.51B
COGS % of Revenue	0.3%	0.31%	0.34%	0.31%	0.3%	0.32%	0.3%	0.35%	0.39%	0.35%
Gross Profit+	1.55B	1.67B	1.83B	2.3B	2.47B	2.2B	3.15B	2.97B	2.74B	2.86B
Gross Margin %	0.7%	0.69%	0.66%	0.69%	0.7%	0.68%	0.7%	0.65%	0.61%	0.65%
Gross Profit Growth %	0.19%	0.08%	0.1%	0.26%	0.07%	-0.11%	0.43%	-0.06%	-0.08%	0.04%
Operating Expenses+	936M	1.08B	1.22B	1.42B	1.48B	1.62B	3.28B	7.15B	3.81B	3.69B
OpEx % of Revenue	0.42%	0.45%	0.44%	0.43%	0.42%	0.5%	0.72%	1.56%	0.85%	0.84%
Selling, General & Admin	516M	584M	674M	794M	835M	941M	2.09B	1.3B	1.61B	1.09B
SG&A % of Revenue	0.23%	0.24%	0.24%	0.24%	0.24%	0.29%	0.46%	0.28%	0.36%	0.25%
Research & Development	401.53M	504.42M	546M	623M	647M	682M	1.19B	1.32B	1.35B	1.17B
R&D % of Revenue	0.18%	0.21%	0.2%	0.19%	0.18%	0.21%	0.26%	0.29%	0.3%	0.27%
Other Operating Expenses	19M	-9M	0	0	0	0	0	4.53B	847M	1.43B
Operating Income+	613M	587M	606M	883M	985M	580M	-123M	-4.18B	-1.07B	-833M
Operating Margin %	0.28%	0.24%	0.22%	0.26%	0.28%	0.18%	-0.03%	-0.91%	-0.24%	-0.19%
Operating Income Growth %	0.19%	-0.04%	0.03%	0.46%	0.12%	-0.41%	-1.21%	-32.98%	0.74%	0.22%
EBITDA+	740M	728M	762M	1.06B	1.17B	767M	128M	-3.79B	-637M	-479M
EBITDA Margin %	0.33%	0.3%	0.28%	0.32%	0.33%	0.24%	0.03%	-0.83%	-0.14%	-0.11%
EBITDA Growth %	0.18%	-0.02%	0.05%	0.39%	0.1%	-0.35%	-0.83%	-30.57%	0.83%	0.25%
D&A (Non-Cash Add-back)	127M	141M	156M	179M	188M	187M	251M	394M	432M	354M
EBIT	626M	594M	1.08B	951M	1.17B	905M	945M	-4.31B	-1.04B	-1.08B
Net Interest Income+	-38M	-23M	-18M	-13M	23M	-8M	-61M	-15M	-19M	-54M
Interest Income	5M	10M	19M	44M	75M	41M	0	11M	58M	46M
Interest Expense	43M	33M	37M	57M	52M	49M	61M	26M	77M	100M
Other Income/Expense	-30M	-26M	437M	11M	133M	276M	1.01B	-157M	-48M	-346M
Pretax Income+	583M	561M	1.04B	894M	1.12B	856M	884M	-4.34B	-1.12B	-1.18B
Pretax Margin %	0.26%	0.23%	0.38%	0.27%	0.32%	0.26%	0.2%	-0.95%	-0.25%	-0.27%
Income Tax+	125M	133M	365M	112M	128M	200M	122M	68M	44M	44M
Effective Tax Rate %	0.79%	0.82%	0.7%	0.92%	0.9%	0.77%	0.86%	1.02%	1.04%	1.04%
Net Income+	461.56M	462.65M	726M	826M	1B	656M	762M	-4.4B	-1.16B	-1.22B
Net Margin %	0.21%	0.19%	0.26%	0.25%	0.28%	0.2%	0.17%	-0.96%	-0.26%	-0.28%
Net Income Growth %	0.31%	0%	0.57%	0.14%	0.21%	-0.35%	0.16%	-6.78%	0.74%	-0.05%
Net Income (Continuing)	458M	428M	678M	782M	990M	656M	762M	-4.4B	-1.16B	-1.22B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	32.55M	73.01M	220M	87M	0	0	0	0	0	0
EPS (Diluted)+	3.10	3.13	4.91	5.54	6.72	4.43	5.05	-28.05	-7.35	-7.69
EPS Growth %	0.31%	0.01%	0.57%	0.13%	0.21%	-0.34%	0.14%	-6.55%	0.74%	-0.05%
EPS (Basic)	3.18	3.15	4.97	5.62	6.82	4.46	5.08	-28.05	-7.35	-7.69
Diluted Shares Outstanding	149M	148M	148M	149M	149M	148M	151M	157M	158M	159M
Basic Shares Outstanding	145M	147M	146M	147M	147M	147M	150M	157M	158M	159M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Jan 2021	Jan 2022	Jan 2023	Dec 2023	Dec 2024
Total Current Assets+	2.1B	2.32B	2.98B	4.49B	4.45B	4.48B	2.71B	3.56B	2.61B	2.75B
Cash & Short-Term Investments	1.39B	1.56B	2.15B	3.51B	3.41B	3.47B	1.34B	2.04B	1.05B	1.22B
Cash Only	768.77M	734.52M	1.23B	1.14B	2.04B	1.81B	1.23B	2.01B	1.05B	1.13B
Short-Term Investments	617.45M	824.21M	920M	2.37B	1.37B	1.66B	107M	26M	6M	93M
Accounts Receivable	385.53M	381.32M	411M	514M	573M	487M	664M	688M	752M	751M
Days Sales Outstanding	63.39	58.03	54.51	56.29	59.03	54.88	53.55	54.78	60.94	62.7
Inventory	270.78M	300.17M	333M	386M	359M	372M	431M	568M	587M	547M
Days Inventory Outstanding	147.29	149.67	131.26	136.39	121.78	131.06	114.66	128.61	121.74	132.13
Other Current Assets	54.3M	77.88M	91M	78M	105M	152M	279M	268M	216M	228M
Total Non-Current Assets+	1.59B	1.96B	2.28B	2.47B	2.87B	3.1B	12.5B	8.69B	7.5B	3.56B
Property, Plant & Equipment	342.69M	713.33M	931M	1.07B	1.44B	1.45B	1.7B	1.74B	1.55B	1.23B
Fixed Asset Turnover	6.48x	3.36x	2.96x	3.10x	2.45x	2.23x	2.67x	2.63x	2.90x	3.54x
Goodwill	752.63M	776M	771M	831M	824M	897M	7.11B	3.24B	2.54B	1.11B
Intangible Assets	273.62M	242.65M	175M	185M	145M	142M	3.25B	3.29B	2.99B	295M
Long-Term Investments	56.6M	57.4M	266M	260M	283M	418M	213M	211M	196M	227M
Other Non-Current Assets	30.86M	49.81M	46M	48M	105M	171M	232M	212M	217M	121M
Total Assets+	3.69B	4.28B	5.26B	6.96B	7.32B	7.58B	15.22B	12.25B	10.11B	6.3B
Asset Turnover	0.60x	0.56x	0.52x	0.48x	0.48x	0.43x	0.30x	0.37x	0.45x	0.69x
Asset Growth %	0.1%	0.16%	0.23%	0.32%	0.05%	0.04%	1.01%	-0.19%	-0.17%	-0.38%
Total Current Liabilities+	610.49M	704.66M	746M	1.8B	665M	1.24B	1.09B	2.77B	1.57B	1.55B
Accounts Payable	139.23M	138M	160M	184M	149M	192M	332M	293M	245M	221M
Days Payables Outstanding	75.73	68.81	63.07	65.01	50.54	67.64	88.32	66.34	50.81	53.39
Short-Term Debt	74.93M	1.25M	10M	1.11B	45M	562M	71M	1.32B	86M	578M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	134.86M	301.02M	219M	63M	64M	83M	106M	626M	685M	70M
Current Ratio	3.43x	3.29x	3.99x	2.49x	6.69x	3.60x	2.48x	1.28x	1.66x	1.78x
Quick Ratio	2.99x	2.86x	3.55x	2.27x	6.15x	3.30x	2.09x	1.08x	1.29x	1.42x
Cash Conversion Cycle	134.95	138.89	122.7	127.66	130.27	118.3	79.89	117.05	131.87	141.45
Total Non-Current Liabilities+	1.23B	1.31B	1.67B	1.31B	2.04B	1.65B	3.38B	2.88B	2.8B	2.38B
Long-Term Debt	1.02B	1.05B	1.18B	890M	1.14B	673M	1.7B	1.49B	1.49B	1.49B
Capital Lease Obligations	0	0	0	269M	695M	671M	774M	744M	687M	554M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	180.5M	213.95M	360M	359M	160M	259M	852M	586M	543M	272M
Total Liabilities	1.81B	1.97B	2.29B	3.05B	2.7B	2.89B	4.48B	5.65B	4.37B	3.93B
Total Debt+	1.09B	1.05B	1.19B	2B	1.88B	1.91B	2.54B	3.56B	2.26B	2.62B
Net Debt	321.81M	314.54M	-33M	853M	-161M	96M	1.31B	1.54B	1.21B	1.5B
Debt / Equity	0.58x	0.45x	0.39x	0.51x	0.41x	0.41x	0.24x	0.54x	0.39x	1.10x
Debt / EBITDA	1.47x	1.44x	1.56x	1.88x	1.60x	2.49x	19.84x	-	-	-
Net Debt / EBITDA	0.43x	0.43x	-0.04x	0.80x	-0.14x	0.13x	10.22x	-	-	-
Interest Coverage	14.26x	17.79x	16.38x	15.49x	18.94x	11.84x	-2.02x	-160.73x	-13.88x	-8.33x
Total Equity+	1.88B	2.34B	3.06B	3.93B	4.61B	4.69B	10.74B	6.6B	5.75B	2.37B
Equity Growth %	0.29%	0.25%	0.31%	0.28%	0.17%	0.02%	1.29%	-0.39%	-0.13%	-0.59%
Book Value per Share	12.62	15.83	20.70	26.39	30.96	31.72	71.13	42.03	36.36	14.92
Total Shareholders' Equity	1.85B	2.27B	2.84B	3.85B	4.61B	4.69B	10.74B	6.6B	5.75B	2.37B
Common Stock	1.86M	1.89M	2M	2M	2M	2M	2M	2M	2M	2M
Retained Earnings	1.02B	1.49B	2.26B	3.08B	4.07B	4.72B	5.49B	1.14B	-19M	-1.24B
Treasury Stock	-1.67B	-2.02B	-2.34B	-2.62B	-3.02B	-3.85B	-3.7B	-3.75B	-3.79B	-3.93B
Accumulated OCI	36K	-1.04M	-1M	-1M	5M	2M	17M	3M	-1M	22M
Minority Interest	32.55M	73.01M	220M	87M	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Jan 2021	Jan 2022	Jan 2023	Dec 2023	Dec 2024
Cash from Operations+	659.6M	687.24M	875M	1.14B	1.05B	1.08B	545M	392M	478M	837M
Operating CF Margin %	0.3%	0.29%	0.32%	0.34%	0.3%	0.33%	0.12%	0.09%	0.11%	0.19%
Operating CF Growth %	0.32%	0.04%	0.27%	0.31%	-0.08%	0.03%	-0.5%	-0.28%	0.22%	0.75%
Net Income	457.39M	428.09M	678M	782M	990M	656M	762M	-4.4B	-1.16B	-1.22B
Depreciation & Amortization	126.42M	140.91M	156M	179M	188M	187M	251M	394M	432M	354M
Stock-Based Compensation	132.59M	129.06M	164M	193M	194M	194M	754M	366M	380M	370M
Deferred Taxes	80.5M	93.56M	81M	-18M	11M	117M	-76M	-23M	-33M	-112M
Other Non-Cash Items	-98.87M	-59.38M	-399M	24M	-138M	-147M	-994M	3.85B	950M	1.93B
Working Capital Changes	-38.44M	-45.02M	195M	-18M	-194M	73M	-152M	204M	-90M	-483M
Change in Receivables	-95.91M	3.24M	-26M	-105M	-58M	89M	-164M	-12M	-40M	-25M
Change in Inventory	-80.55M	-29.69M	-33M	-53M	25M	-12M	-58M	-135M	-20M	19M
Change in Payables	46.3M	-1.97M	10M	45M	-35M	40M	60M	-38M	-44M	-4M
Cash from Investing+	-106.15M	-514.54M	-214M	-1.81B	745M	-554M	-1.07B	-591M	-231M	-178M
Capital Expenditures	-143.25M	-271.38M	-312M	-296M	-209M	-189M	-208M	-286M	-195M	-128M
CapEx % of Revenue	0.06%	0.11%	0.11%	0.09%	0.06%	0.06%	0.05%	0.06%	0.04%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	73M	-237M	96M	-1.42B	0	-132M	0	0	-1M	0
Cash from Financing+	-418.76M	-204.71M	-176M	594M	-897M	-766M	-51M	1B	-1.21B	-570M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-3.89M	-33.32M	8M	138M	-82M	-91M	-582M	-54M	-42M	-1B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	516.35M	415.86M	563M	846M	842M	891M	337M	106M	282M	709M
FCF Margin %	0.23%	0.17%	0.2%	0.25%	0.24%	0.28%	0.07%	0.02%	0.06%	0.16%
FCF Growth %	0.44%	-0.19%	0.35%	0.5%	-0%	0.06%	-0.62%	-0.69%	1.66%	1.51%
FCF per Share	3.47	2.81	3.80	5.68	5.65	6.02	2.23	0.68	1.78	4.46
FCF Conversion (FCF/Net Income)	1.43x	1.49x	1.21x	1.38x	1.05x	1.65x	0.72x	-0.09x	-0.41x	-0.68x
Interest Paid	0	0	0	0	0	0	9M	17M	73M	83M
Taxes Paid	17M	60M	149M	99M	164M	119M	233M	122M	65M	105M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	27.61%	21.9%	26.85%	23.61%	23.45%	14.1%	9.87%	-50.8%	-18.81%	-30.13%
Return on Invested Capital (ROIC)	21.28%	18.11%	15.98%	16.95%	16%	9.41%	-1.1%	-31.05%	-10.62%	-11.54%
Gross Margin	69.78%	69.46%	66.35%	69.01%	69.63%	68.01%	69.69%	64.83%	60.92%	65.44%
Net Margin	20.79%	19.29%	26.38%	24.78%	28.28%	20.25%	16.84%	-96.07%	-25.78%	-27.97%
Debt / Equity	0.58x	0.45x	0.39x	0.51x	0.41x	0.41x	0.24x	0.54x	0.39x	1.10x
Interest Coverage	14.26x	17.79x	16.38x	15.49x	18.94x	11.84x	-2.02x	-160.73x	-13.88x	-8.33x
FCF Conversion	1.43x	1.49x	1.21x	1.38x	1.05x	1.65x	0.72x	-0.09x	-0.41x	-0.68x
Revenue Growth	19.25%	8.05%	14.74%	21.11%	6.3%	-8.58%	39.73%	1.28%	-1.75%	-2.93%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Sequencing	-	-	-	-	-	-	4.11B	4.17B	4.11B	-
Sequencing Growth	-	-	-	-	-	-	-	1.51%	-1.41%	-
Microarray	-	-	-	-	-	-	417M	413M	392M	-
Microarray Growth	-	-	-	-	-	-	-	-0.96%	-5.08%	-
Product	-	-	-	2.75B	802M	788M	-	-	-	-
Product Growth	-	-	-	-	-70.83%	-1.75%	-	-	-	-
Service, Other	-	-	-	-	240M	220M	-	-	-	-
Service, Other Growth	-	-	-	-	-	-8.33%	-	-	-	-
Consumables	-	-	-	2.16B	-	-	-	-	-	-
Consumables Growth	-	-	-	-	-	-	-	-	-	-
Services and Other	-	-	-	584M	-	-	-	-	-	-
Services and Other Growth	-	-	-	-	-	-	-	-	-	-
Instruments	-	-	-	569M	-	-	-	-	-	-
Instruments Growth	-	-	-	-	-	-	-	-	-	-
Other Products	-	-	-	24M	-	-	-	-	-	-
Other Products Growth	-	-	-	-	-	-	-	-	-	-
Core Illumina	-	2.43B	2.75B	-	-	-	-	-	-	-
Core Illumina Growth	-	-	13.43%	-	-	-	-	-	-	-
Consolidated Variable Interest Entities	-	-	6M	-	-	-	-	-	-	-
Consolidated Variable Interest Entities Growth	-	-	-	-	-	-	-	-	-	-
Intersegment Eliminations	-	-29.65M	-	-	-	-	-	-	-	-
Intersegment Eliminations Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Americas	-	-	-	1.86B	1.97B	1.74B	2.36B	2.48B	2.52B	2.44B
Americas Growth	-	-	-	-	5.69%	-11.47%	35.21%	5.13%	1.69%	-3.17%
EMEA	527.41M	553.22M	632M	851M	933M	886M	1.29B	1.22B	1.14B	1.19B
EMEA Growth	-	4.89%	14.24%	34.65%	9.64%	-5.04%	45.49%	-5.74%	-6.17%	3.95%
Asia Pacific	379.57M	456.38M	514M	618M	268M	267M	377M	418M	459M	438M
Asia Pacific Growth	-	20.23%	12.63%	20.23%	-56.63%	-0.37%	41.20%	10.88%	9.81%	-4.58%
CHINA	-	-	-	-	372M	342M	502M	472M	384M	308M
CHINA Growth	-	-	-	-	-	-8.06%	46.78%	-5.98%	-18.64%	-19.79%
UNITED STATES	1.21B	1.29B	1.51B	-	-	-	-	-	-	-
UNITED STATES Growth	-	7.19%	16.75%	-	-	-	-	-	-	-
Other Countries	105.41M	94.6M	95M	-	-	-	-	-	-	-
Other Countries Growth	-	-10.26%	0.42%	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Illumina, Inc. (ILMN) reported $4.29B in revenue for fiscal year 2024. This represents a 306% increase from $1.06B in 2011.

Illumina, Inc. (ILMN) saw revenue decline by 2.9% over the past year.

Yes, Illumina, Inc. (ILMN) is profitable, generating $703.0M in net income for fiscal year 2024 (-28.0% net margin).

Dividend & Returns

Illumina, Inc. (ILMN) has a return on equity (ROE) of -30.1%. Negative ROE indicates the company is unprofitable.

Illumina, Inc. (ILMN) generated $1.01B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Illumina, Inc. (ILMN) 10-Year Financial Performance & Capital Metrics

ILMN • • Industrial / General

HealthcareDiagnostics & ResearchLife Sciences Instrumentation & ToolsNext-Generation Sequencing Platforms

Revenue $4.37B -2.9%
EBITDA -$479M +24.8%
Net Income -$1.22B -5.3%
EPS (Diluted) -7.69 -4.6%
Gross Margin 65.44% +7.4%
EBITDA Margin -10.96% +22.5%
Operating Margin -19.05% +19.7%
Net Margin -27.97% -8.5%
ROE -30.13% -60.2%
ROIC -11.54% -8.7%
Debt/Equity 1.10 +180.6%
Interest Coverage -8.33 +40.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 16.2% free cash flow margin
✓Momentum leader: RS Rating 87 (top 13%)
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y8.91%

5Y4.29%

3Y-1.15%

TTM-2.35%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM144.38%

EPS CAGR

10Y-

5Y-

3Y-

TTM144.54%

ROCE

10Y Avg3.7%

5Y Avg-10.42%

3Y Avg-19.93%

Latest-12.53%

Peer Comparison

Next-Generation Sequencing Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BNGOBionano Genomics, Inc.	15.47M	1.52	-0.02	-14.79%	-134.36%	-77.49%		0.77
ATLNAtlantic International Corp.	135.19M	2.31	-0.63	10.27%	-22.66%
ILMNIllumina, Inc.	22.2B	145.30	-18.89	-2.93%	16.4%	29.53%	3.19%	1.10

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Jan 2021	Jan 2022	Jan 2023	Dec 2023	Dec 2024
Sales/Revenue+	2.22B	2.4B	2.75B	3.33B	3.54B	3.24B	4.53B	4.58B	4.5B	4.37B
Revenue Growth %	0.19%	0.08%	0.15%	0.21%	0.06%	-0.09%	0.4%	0.01%	-0.02%	-0.03%
Cost of Goods Sold+	671M	732M	926M	1.03B	1.08B	1.04B	1.37B	1.61B	1.76B	1.51B
COGS % of Revenue	0.3%	0.31%	0.34%	0.31%	0.3%	0.32%	0.3%	0.35%	0.39%	0.35%
Gross Profit+	1.55B	1.67B	1.83B	2.3B	2.47B	2.2B	3.15B	2.97B	2.74B	2.86B
Gross Margin %	0.7%	0.69%	0.66%	0.69%	0.7%	0.68%	0.7%	0.65%	0.61%	0.65%
Gross Profit Growth %	0.19%	0.08%	0.1%	0.26%	0.07%	-0.11%	0.43%	-0.06%	-0.08%	0.04%
Operating Expenses+	936M	1.08B	1.22B	1.42B	1.48B	1.62B	3.28B	7.15B	3.81B	3.69B
OpEx % of Revenue	0.42%	0.45%	0.44%	0.43%	0.42%	0.5%	0.72%	1.56%	0.85%	0.84%
Selling, General & Admin	516M	584M	674M	794M	835M	941M	2.09B	1.3B	1.61B	1.09B
SG&A % of Revenue	0.23%	0.24%	0.24%	0.24%	0.24%	0.29%	0.46%	0.28%	0.36%	0.25%
Research & Development	401.53M	504.42M	546M	623M	647M	682M	1.19B	1.32B	1.35B	1.17B
R&D % of Revenue	0.18%	0.21%	0.2%	0.19%	0.18%	0.21%	0.26%	0.29%	0.3%	0.27%
Other Operating Expenses	19M	-9M	0	0	0	0	0	4.53B	847M	1.43B
Operating Income+	613M	587M	606M	883M	985M	580M	-123M	-4.18B	-1.07B	-833M
Operating Margin %	0.28%	0.24%	0.22%	0.26%	0.28%	0.18%	-0.03%	-0.91%	-0.24%	-0.19%
Operating Income Growth %	0.19%	-0.04%	0.03%	0.46%	0.12%	-0.41%	-1.21%	-32.98%	0.74%	0.22%
EBITDA+	740M	728M	762M	1.06B	1.17B	767M	128M	-3.79B	-637M	-479M
EBITDA Margin %	0.33%	0.3%	0.28%	0.32%	0.33%	0.24%	0.03%	-0.83%	-0.14%	-0.11%
EBITDA Growth %	0.18%	-0.02%	0.05%	0.39%	0.1%	-0.35%	-0.83%	-30.57%	0.83%	0.25%
D&A (Non-Cash Add-back)	127M	141M	156M	179M	188M	187M	251M	394M	432M	354M
EBIT	626M	594M	1.08B	951M	1.17B	905M	945M	-4.31B	-1.04B	-1.08B
Net Interest Income+	-38M	-23M	-18M	-13M	23M	-8M	-61M	-15M	-19M	-54M
Interest Income	5M	10M	19M	44M	75M	41M	0	11M	58M	46M
Interest Expense	43M	33M	37M	57M	52M	49M	61M	26M	77M	100M
Other Income/Expense	-30M	-26M	437M	11M	133M	276M	1.01B	-157M	-48M	-346M
Pretax Income+	583M	561M	1.04B	894M	1.12B	856M	884M	-4.34B	-1.12B	-1.18B
Pretax Margin %	0.26%	0.23%	0.38%	0.27%	0.32%	0.26%	0.2%	-0.95%	-0.25%	-0.27%
Income Tax+	125M	133M	365M	112M	128M	200M	122M	68M	44M	44M
Effective Tax Rate %	0.79%	0.82%	0.7%	0.92%	0.9%	0.77%	0.86%	1.02%	1.04%	1.04%
Net Income+	461.56M	462.65M	726M	826M	1B	656M	762M	-4.4B	-1.16B	-1.22B
Net Margin %	0.21%	0.19%	0.26%	0.25%	0.28%	0.2%	0.17%	-0.96%	-0.26%	-0.28%
Net Income Growth %	0.31%	0%	0.57%	0.14%	0.21%	-0.35%	0.16%	-6.78%	0.74%	-0.05%
Net Income (Continuing)	458M	428M	678M	782M	990M	656M	762M	-4.4B	-1.16B	-1.22B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	32.55M	73.01M	220M	87M	0	0	0	0	0	0
EPS (Diluted)+	3.10	3.13	4.91	5.54	6.72	4.43	5.05	-28.05	-7.35	-7.69
EPS Growth %	0.31%	0.01%	0.57%	0.13%	0.21%	-0.34%	0.14%	-6.55%	0.74%	-0.05%
EPS (Basic)	3.18	3.15	4.97	5.62	6.82	4.46	5.08	-28.05	-7.35	-7.69
Diluted Shares Outstanding	149M	148M	148M	149M	149M	148M	151M	157M	158M	159M
Basic Shares Outstanding	145M	147M	146M	147M	147M	147M	150M	157M	158M	159M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Jan 2021	Jan 2022	Jan 2023	Dec 2023	Dec 2024
Total Current Assets+	2.1B	2.32B	2.98B	4.49B	4.45B	4.48B	2.71B	3.56B	2.61B	2.75B
Cash & Short-Term Investments	1.39B	1.56B	2.15B	3.51B	3.41B	3.47B	1.34B	2.04B	1.05B	1.22B
Cash Only	768.77M	734.52M	1.23B	1.14B	2.04B	1.81B	1.23B	2.01B	1.05B	1.13B
Short-Term Investments	617.45M	824.21M	920M	2.37B	1.37B	1.66B	107M	26M	6M	93M
Accounts Receivable	385.53M	381.32M	411M	514M	573M	487M	664M	688M	752M	751M
Days Sales Outstanding	63.39	58.03	54.51	56.29	59.03	54.88	53.55	54.78	60.94	62.7
Inventory	270.78M	300.17M	333M	386M	359M	372M	431M	568M	587M	547M
Days Inventory Outstanding	147.29	149.67	131.26	136.39	121.78	131.06	114.66	128.61	121.74	132.13
Other Current Assets	54.3M	77.88M	91M	78M	105M	152M	279M	268M	216M	228M
Total Non-Current Assets+	1.59B	1.96B	2.28B	2.47B	2.87B	3.1B	12.5B	8.69B	7.5B	3.56B
Property, Plant & Equipment	342.69M	713.33M	931M	1.07B	1.44B	1.45B	1.7B	1.74B	1.55B	1.23B
Fixed Asset Turnover	6.48x	3.36x	2.96x	3.10x	2.45x	2.23x	2.67x	2.63x	2.90x	3.54x
Goodwill	752.63M	776M	771M	831M	824M	897M	7.11B	3.24B	2.54B	1.11B
Intangible Assets	273.62M	242.65M	175M	185M	145M	142M	3.25B	3.29B	2.99B	295M
Long-Term Investments	56.6M	57.4M	266M	260M	283M	418M	213M	211M	196M	227M
Other Non-Current Assets	30.86M	49.81M	46M	48M	105M	171M	232M	212M	217M	121M
Total Assets+	3.69B	4.28B	5.26B	6.96B	7.32B	7.58B	15.22B	12.25B	10.11B	6.3B
Asset Turnover	0.60x	0.56x	0.52x	0.48x	0.48x	0.43x	0.30x	0.37x	0.45x	0.69x
Asset Growth %	0.1%	0.16%	0.23%	0.32%	0.05%	0.04%	1.01%	-0.19%	-0.17%	-0.38%
Total Current Liabilities+	610.49M	704.66M	746M	1.8B	665M	1.24B	1.09B	2.77B	1.57B	1.55B
Accounts Payable	139.23M	138M	160M	184M	149M	192M	332M	293M	245M	221M
Days Payables Outstanding	75.73	68.81	63.07	65.01	50.54	67.64	88.32	66.34	50.81	53.39
Short-Term Debt	74.93M	1.25M	10M	1.11B	45M	562M	71M	1.32B	86M	578M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	134.86M	301.02M	219M	63M	64M	83M	106M	626M	685M	70M
Current Ratio	3.43x	3.29x	3.99x	2.49x	6.69x	3.60x	2.48x	1.28x	1.66x	1.78x
Quick Ratio	2.99x	2.86x	3.55x	2.27x	6.15x	3.30x	2.09x	1.08x	1.29x	1.42x
Cash Conversion Cycle	134.95	138.89	122.7	127.66	130.27	118.3	79.89	117.05	131.87	141.45
Total Non-Current Liabilities+	1.23B	1.31B	1.67B	1.31B	2.04B	1.65B	3.38B	2.88B	2.8B	2.38B
Long-Term Debt	1.02B	1.05B	1.18B	890M	1.14B	673M	1.7B	1.49B	1.49B	1.49B
Capital Lease Obligations	0	0	0	269M	695M	671M	774M	744M	687M	554M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	180.5M	213.95M	360M	359M	160M	259M	852M	586M	543M	272M
Total Liabilities	1.81B	1.97B	2.29B	3.05B	2.7B	2.89B	4.48B	5.65B	4.37B	3.93B
Total Debt+	1.09B	1.05B	1.19B	2B	1.88B	1.91B	2.54B	3.56B	2.26B	2.62B
Net Debt	321.81M	314.54M	-33M	853M	-161M	96M	1.31B	1.54B	1.21B	1.5B
Debt / Equity	0.58x	0.45x	0.39x	0.51x	0.41x	0.41x	0.24x	0.54x	0.39x	1.10x
Debt / EBITDA	1.47x	1.44x	1.56x	1.88x	1.60x	2.49x	19.84x	-	-	-
Net Debt / EBITDA	0.43x	0.43x	-0.04x	0.80x	-0.14x	0.13x	10.22x	-	-	-
Interest Coverage	14.26x	17.79x	16.38x	15.49x	18.94x	11.84x	-2.02x	-160.73x	-13.88x	-8.33x
Total Equity+	1.88B	2.34B	3.06B	3.93B	4.61B	4.69B	10.74B	6.6B	5.75B	2.37B
Equity Growth %	0.29%	0.25%	0.31%	0.28%	0.17%	0.02%	1.29%	-0.39%	-0.13%	-0.59%
Book Value per Share	12.62	15.83	20.70	26.39	30.96	31.72	71.13	42.03	36.36	14.92
Total Shareholders' Equity	1.85B	2.27B	2.84B	3.85B	4.61B	4.69B	10.74B	6.6B	5.75B	2.37B
Common Stock	1.86M	1.89M	2M	2M	2M	2M	2M	2M	2M	2M
Retained Earnings	1.02B	1.49B	2.26B	3.08B	4.07B	4.72B	5.49B	1.14B	-19M	-1.24B
Treasury Stock	-1.67B	-2.02B	-2.34B	-2.62B	-3.02B	-3.85B	-3.7B	-3.75B	-3.79B	-3.93B
Accumulated OCI	36K	-1.04M	-1M	-1M	5M	2M	17M	3M	-1M	22M
Minority Interest	32.55M	73.01M	220M	87M	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Jan 2021	Jan 2022	Jan 2023	Dec 2023	Dec 2024
Cash from Operations+	659.6M	687.24M	875M	1.14B	1.05B	1.08B	545M	392M	478M	837M
Operating CF Margin %	0.3%	0.29%	0.32%	0.34%	0.3%	0.33%	0.12%	0.09%	0.11%	0.19%
Operating CF Growth %	0.32%	0.04%	0.27%	0.31%	-0.08%	0.03%	-0.5%	-0.28%	0.22%	0.75%
Net Income	457.39M	428.09M	678M	782M	990M	656M	762M	-4.4B	-1.16B	-1.22B
Depreciation & Amortization	126.42M	140.91M	156M	179M	188M	187M	251M	394M	432M	354M
Stock-Based Compensation	132.59M	129.06M	164M	193M	194M	194M	754M	366M	380M	370M
Deferred Taxes	80.5M	93.56M	81M	-18M	11M	117M	-76M	-23M	-33M	-112M
Other Non-Cash Items	-98.87M	-59.38M	-399M	24M	-138M	-147M	-994M	3.85B	950M	1.93B
Working Capital Changes	-38.44M	-45.02M	195M	-18M	-194M	73M	-152M	204M	-90M	-483M
Change in Receivables	-95.91M	3.24M	-26M	-105M	-58M	89M	-164M	-12M	-40M	-25M
Change in Inventory	-80.55M	-29.69M	-33M	-53M	25M	-12M	-58M	-135M	-20M	19M
Change in Payables	46.3M	-1.97M	10M	45M	-35M	40M	60M	-38M	-44M	-4M
Cash from Investing+	-106.15M	-514.54M	-214M	-1.81B	745M	-554M	-1.07B	-591M	-231M	-178M
Capital Expenditures	-143.25M	-271.38M	-312M	-296M	-209M	-189M	-208M	-286M	-195M	-128M
CapEx % of Revenue	0.06%	0.11%	0.11%	0.09%	0.06%	0.06%	0.05%	0.06%	0.04%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	73M	-237M	96M	-1.42B	0	-132M	0	0	-1M	0
Cash from Financing+	-418.76M	-204.71M	-176M	594M	-897M	-766M	-51M	1B	-1.21B	-570M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-3.89M	-33.32M	8M	138M	-82M	-91M	-582M	-54M	-42M	-1B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	516.35M	415.86M	563M	846M	842M	891M	337M	106M	282M	709M
FCF Margin %	0.23%	0.17%	0.2%	0.25%	0.24%	0.28%	0.07%	0.02%	0.06%	0.16%
FCF Growth %	0.44%	-0.19%	0.35%	0.5%	-0%	0.06%	-0.62%	-0.69%	1.66%	1.51%
FCF per Share	3.47	2.81	3.80	5.68	5.65	6.02	2.23	0.68	1.78	4.46
FCF Conversion (FCF/Net Income)	1.43x	1.49x	1.21x	1.38x	1.05x	1.65x	0.72x	-0.09x	-0.41x	-0.68x
Interest Paid	0	0	0	0	0	0	9M	17M	73M	83M
Taxes Paid	17M	60M	149M	99M	164M	119M	233M	122M	65M	105M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	27.61%	21.9%	26.85%	23.61%	23.45%	14.1%	9.87%	-50.8%	-18.81%	-30.13%
Return on Invested Capital (ROIC)	21.28%	18.11%	15.98%	16.95%	16%	9.41%	-1.1%	-31.05%	-10.62%	-11.54%
Gross Margin	69.78%	69.46%	66.35%	69.01%	69.63%	68.01%	69.69%	64.83%	60.92%	65.44%
Net Margin	20.79%	19.29%	26.38%	24.78%	28.28%	20.25%	16.84%	-96.07%	-25.78%	-27.97%
Debt / Equity	0.58x	0.45x	0.39x	0.51x	0.41x	0.41x	0.24x	0.54x	0.39x	1.10x
Interest Coverage	14.26x	17.79x	16.38x	15.49x	18.94x	11.84x	-2.02x	-160.73x	-13.88x	-8.33x
FCF Conversion	1.43x	1.49x	1.21x	1.38x	1.05x	1.65x	0.72x	-0.09x	-0.41x	-0.68x
Revenue Growth	19.25%	8.05%	14.74%	21.11%	6.3%	-8.58%	39.73%	1.28%	-1.75%	-2.93%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Sequencing	-	-	-	-	-	-	4.11B	4.17B	4.11B	-
Sequencing Growth	-	-	-	-	-	-	-	1.51%	-1.41%	-
Microarray	-	-	-	-	-	-	417M	413M	392M	-
Microarray Growth	-	-	-	-	-	-	-	-0.96%	-5.08%	-
Product	-	-	-	2.75B	802M	788M	-	-	-	-
Product Growth	-	-	-	-	-70.83%	-1.75%	-	-	-	-
Service, Other	-	-	-	-	240M	220M	-	-	-	-
Service, Other Growth	-	-	-	-	-	-8.33%	-	-	-	-
Consumables	-	-	-	2.16B	-	-	-	-	-	-
Consumables Growth	-	-	-	-	-	-	-	-	-	-
Services and Other	-	-	-	584M	-	-	-	-	-	-
Services and Other Growth	-	-	-	-	-	-	-	-	-	-
Instruments	-	-	-	569M	-	-	-	-	-	-
Instruments Growth	-	-	-	-	-	-	-	-	-	-
Other Products	-	-	-	24M	-	-	-	-	-	-
Other Products Growth	-	-	-	-	-	-	-	-	-	-
Core Illumina	-	2.43B	2.75B	-	-	-	-	-	-	-
Core Illumina Growth	-	-	13.43%	-	-	-	-	-	-	-
Consolidated Variable Interest Entities	-	-	6M	-	-	-	-	-	-	-
Consolidated Variable Interest Entities Growth	-	-	-	-	-	-	-	-	-	-
Intersegment Eliminations	-	-29.65M	-	-	-	-	-	-	-	-
Intersegment Eliminations Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Americas	-	-	-	1.86B	1.97B	1.74B	2.36B	2.48B	2.52B	2.44B
Americas Growth	-	-	-	-	5.69%	-11.47%	35.21%	5.13%	1.69%	-3.17%
EMEA	527.41M	553.22M	632M	851M	933M	886M	1.29B	1.22B	1.14B	1.19B
EMEA Growth	-	4.89%	14.24%	34.65%	9.64%	-5.04%	45.49%	-5.74%	-6.17%	3.95%
Asia Pacific	379.57M	456.38M	514M	618M	268M	267M	377M	418M	459M	438M
Asia Pacific Growth	-	20.23%	12.63%	20.23%	-56.63%	-0.37%	41.20%	10.88%	9.81%	-4.58%
CHINA	-	-	-	-	372M	342M	502M	472M	384M	308M
CHINA Growth	-	-	-	-	-	-8.06%	46.78%	-5.98%	-18.64%	-19.79%
UNITED STATES	1.21B	1.29B	1.51B	-	-	-	-	-	-	-
UNITED STATES Growth	-	7.19%	16.75%	-	-	-	-	-	-	-
Other Countries	105.41M	94.6M	95M	-	-	-	-	-	-	-
Other Countries Growth	-	-10.26%	0.42%	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Illumina, Inc. (ILMN) reported $4.29B in revenue for fiscal year 2024. This represents a 306% increase from $1.06B in 2011.

Illumina, Inc. (ILMN) saw revenue decline by 2.9% over the past year.

Yes, Illumina, Inc. (ILMN) is profitable, generating $703.0M in net income for fiscal year 2024 (-28.0% net margin).

Dividend & Returns

Illumina, Inc. (ILMN) has a return on equity (ROE) of -30.1%. Negative ROE indicates the company is unprofitable.

Illumina, Inc. (ILMN) generated $1.01B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.