Illumina, Inc. (ILMN) Financial Ratios
27 years of historical data (1999–2025) · Healthcare · Medical - Diagnostics & Research
EV/EBITDA
↓
20.10
↓-91% vs avg
5yr avg: 232.97
30Y Low17.2·High69.5
P/FCF
↓
23.26
↓-80% vs avg
5yr avg: 117.09
30Y Low14.8·High165.7
P/B Ratio
↑
8.17
↑+34% vs avg
5yr avg: 6.08
30Y Low1.4·High18.3
ROE
↑
33.4%
↓+395% vs avg
5yr avg: -11.3%
30Y Low-84%·High33%
Debt/EBITDA
↓
2.25
↓-80% vs avg
5yr avg: 11.05
30Y Low0.0·High19.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ILMN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Illumina, Inc. trades at 26.2x earnings, 47% below its 5-year average of 49.0x, sitting at the 6th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a premium of 18%. On a free-cash-flow basis, the stock trades at 23.3x P/FCF, 80% below the 5-year average of 117.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $21.7B | $21.1B | $21.5B | $21.4B | $30.9B | $55.8B | $53.2B | $48.1B | $43.4B | $31.4B | $18.4B |
| Enterprise Value | $22.8B | $22.2B | $23.0B | $22.6B | $32.4B | $57.1B | $53.3B | $48.0B | $44.3B | $31.4B | $18.7B |
| P/E Ratio → | 26.16 | 24.76 | — | — | — | 73.21 | 81.17 | 48.06 | 52.61 | 43.25 | 39.75 |
| P/S Ratio | 4.99 | 4.85 | 4.92 | 4.75 | 6.73 | 12.33 | 16.43 | 13.58 | 13.03 | 11.42 | 7.68 |
| P/B Ratio | 8.17 | 7.73 | 9.06 | 3.72 | 4.68 | 5.20 | 11.34 | 10.43 | 11.05 | 10.26 | 7.86 |
| P/FCF | 23.26 | 22.61 | 30.34 | 75.82 | 291.04 | 165.66 | 59.73 | 57.15 | 51.34 | 55.82 | 44.28 |
| P/OCF | 20.07 | 19.51 | 25.70 | 44.73 | 78.70 | 102.44 | 49.28 | 45.78 | 38.03 | 35.92 | 26.80 |
P/E links to full P/E history page with 30-year chart
ILMN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Illumina, Inc.'s enterprise value stands at 20.1x EBITDA, 91% below its 5-year average of 233.0x. The Healthcare sector median is 14.1x, placing the stock at a 42% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.11 | 5.26 | 5.02 | 7.07 | 12.62 | 16.46 | 13.54 | 13.29 | 11.41 | 7.81 |
| EV / EBITDA | 20.10 | 19.57 | — | — | — | 446.37 | 69.51 | 40.88 | 41.70 | 41.20 | 25.73 |
| EV / EBIT | 26.38 | 25.68 | — | — | — | 60.46 | 58.91 | 40.99 | 46.57 | 29.07 | 31.53 |
| EV / FCF | — | 23.83 | 32.44 | 80.12 | 305.61 | 169.54 | 59.84 | 56.95 | 52.34 | 55.76 | 45.04 |
ILMN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Illumina, Inc. earns an operating margin of 19.9%. Operating margins have expanded from -23.7% to 19.9% over the past 3 years, signaling improving operational efficiency. Return on equity of 33.4% is exceptionally high. ROIC of 16.8% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 66.7% | 66.7% | 65.4% | 60.9% | 64.8% | 69.7% | 68.0% | 69.6% | 69.0% | 66.4% | 69.5% |
| Operating Margin | 19.9% | 19.9% | -19.1% | -23.7% | -91.2% | -2.7% | 17.9% | 27.8% | 26.5% | 22.0% | 24.5% |
| Net Profit Margin | 19.6% | 19.6% | -28.0% | -25.8% | -96.1% | 16.8% | 20.3% | 28.3% | 24.8% | 26.4% | 19.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 33.4% | 33.4% | -30.1% | -18.8% | -50.8% | 9.9% | 14.1% | 23.5% | 23.6% | 26.9% | 21.9% |
| ROA | 13.1% | 13.1% | -14.9% | -10.4% | -32.1% | 6.7% | 8.8% | 14.0% | 13.5% | 15.2% | 11.6% |
| ROIC | 16.8% | 16.8% | -11.5% | -10.6% | -31.0% | -1.1% | 9.4% | 16.0% | 16.9% | 16.0% | 18.1% |
| ROCE | 17.6% | 17.6% | -12.5% | -11.9% | -35.4% | -1.2% | 8.9% | 16.7% | 18.3% | 15.0% | 17.6% |
ILMN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Illumina, Inc. carries a Debt/EBITDA ratio of 2.3x, which is manageable (31% below the sector average of 3.3x). Net debt stands at $1.1B ($2.6B total debt minus $1.4B cash). Interest coverage of 8.6x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.94 | 0.94 | 1.10 | 0.39 | 0.54 | 0.24 | 0.41 | 0.41 | 0.51 | 0.39 | 0.45 |
| Debt / EBITDA | 2.25 | 2.25 | — | — | — | 19.84 | 2.49 | 1.60 | 1.88 | 1.56 | 1.44 |
| Net Debt / Equity | — | 0.42 | 0.63 | 0.21 | 0.23 | 0.12 | 0.02 | -0.03 | 0.22 | -0.01 | 0.13 |
| Net Debt / EBITDA | 1.00 | 1.00 | — | — | — | 10.22 | 0.13 | -0.14 | 0.80 | -0.04 | 0.43 |
| Debt / FCF | — | 1.22 | 2.11 | 4.30 | 14.57 | 3.88 | 0.11 | -0.19 | 1.01 | -0.06 | 0.76 |
| Interest Coverage | 8.55 | 8.55 | -10.79 | -13.51 | -165.77 | 15.49 | 18.47 | 22.50 | 16.68 | 29.19 | 18.00 |
ILMN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Illumina, Inc.'s current ratio of 2.08x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.72x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 1.66x to 2.08x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.08 | 2.08 | 1.78 | 1.66 | 1.28 | 2.48 | 3.60 | 6.69 | 2.49 | 3.99 | 3.29 |
| Quick Ratio | 1.72 | 1.72 | 1.42 | 1.29 | 1.08 | 2.09 | 3.30 | 6.15 | 2.27 | 3.55 | 2.86 |
| Cash Ratio | 1.03 | 1.03 | 0.79 | 0.67 | 0.73 | 1.23 | 2.79 | 5.13 | 1.95 | 2.88 | 2.21 |
| Asset Turnover | — | 0.65 | 0.69 | 0.45 | 0.37 | 0.30 | 0.43 | 0.48 | 0.48 | 0.52 | 0.56 |
| Inventory Turnover | 2.56 | 2.56 | 2.76 | 3.00 | 2.84 | 3.18 | 2.78 | 3.00 | 2.68 | 2.78 | 2.44 |
| Days Sales Outstanding | — | 71.86 | 62.70 | 60.94 | 54.78 | 53.55 | 54.88 | 59.03 | 56.29 | 54.51 | 58.03 |
ILMN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Illumina, Inc. returns 3.4% to shareholders annually primarily through share buybacks. The earnings yield of 3.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.8% | 4.0% | — | — | — | 1.4% | 1.2% | 2.1% | 1.9% | 2.3% | 2.5% |
| FCF Yield | 4.3% | 4.4% | 3.3% | 1.3% | 0.3% | 0.6% | 1.7% | 1.7% | 1.9% | 1.8% | 2.3% |
| Buyback Yield | 3.4% | 3.5% | 0.5% | 0.0% | 0.0% | 0.0% | 1.4% | 0.7% | 0.5% | 0.8% | 1.4% |
| Total Shareholder Yield | 3.4% | 3.5% | 0.5% | 0.0% | 0.0% | 0.0% | 1.4% | 0.7% | 0.5% | 0.8% | 1.4% |
| Shares Outstanding | — | $156M | $159M | $158M | $157M | $151M | $148M | $149M | $149M | $148M | $148M |
Peer Comparison
Compare ILMN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ILMNYou | $22B | 26.2 | 20.1 | 23.3 | 66.7% | 19.9% | 33.4% | 16.8% | 2.3 |
 PACB | $516M | -1.6 | — | — | 24.2% | -308.0% | -51.3% | -27.6% | — |
 BRKR | $6B | -282.0 | 17.9 | 148.7 | 45.9% | 6.9% | -0.4% | 4.4% | 4.5 |
 TMO | $176B | 26.7 | 19.0 | 27.9 | 37.7% | 18.2% | 13.1% | 7.5% | 3.8 |
 DHR | $124B | 34.7 | 18.1 | 23.5 | 60.9% | 20.9% | 7.1% | 5.9% | 2.4 |
 A | $33B | 25.8 | 19.7 | 28.9 | 52.4% | 21.3% | 20.6% | 13.5% | 1.9 |
 BIO | $7B | 9.3 | 16.8 | 18.7 | 52.0% | 10.5% | 10.8% | 2.6% | 3.2 |
 NTRA | $30B | -140.6 | — | 427.2 | 60.3% | -13.1% | -19.4% | -33.3% | — |
 EXAS | $20B | -95.4 | — | 56.1 | 69.7% | -6.4% | -8.7% | -3.6% | — |
 CDNA | $1B | -52.4 | — | 29.9 | 67.0% | -5.5% | -6.3% | -5.7% | — |
 FLGT | $444M | -7.6 | — | — | 40.6% | -28.2% | -5.4% | -6.4% | — |
| Healthcare Median | — | 22.1 | 14.1 | 18.7 | 63.9% | -5.3% | -33.7% | -10.8% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 27 years · Updated daily
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Start ComparisonILMN — Frequently Asked Questions
Quick answers to the most common questions about buying ILMN stock.
What is Illumina, Inc.'s P/E ratio?
Illumina, Inc.'s current P/E ratio is 26.2x. The historical average is 59.6x. This places it at the 6th percentile of its historical range.
What is Illumina, Inc.'s EV/EBITDA?
Illumina, Inc.'s current EV/EBITDA is 20.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 37.9x.
What is Illumina, Inc.'s ROE?
Illumina, Inc.'s return on equity (ROE) is 33.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -3.3%.
Is ILMN stock overvalued?
Based on historical data, Illumina, Inc. is trading at a P/E of 26.2x. This is at the 6th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Illumina, Inc.'s profit margins?
Illumina, Inc. has 66.7% gross margin and 19.9% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Illumina, Inc. have?
Illumina, Inc.'s Debt/EBITDA ratio is 2.3x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.