Illumina, Inc. (ILMN) P/E Ratio History
UndervaluedTrading at 45.4x vs 5Y avg 54.9x · 35th percentile · Below historical baseline · Data 2006–2026
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P/E Ratio Analysis
As of September 23, 2026, Illumina, Inc. (ILMN) trades at a price-to-earnings ratio of 45.4x, with a stock price of $247.46 and trailing twelve-month earnings per share of $5.39.
The current P/E is 17% below its 5-year average of 54.9x. Over the past five years, ILMN's P/E has ranged from a low of 12.0x to a high of 88.4x, placing the current valuation at the 35th percentile of its historical range.
Compared to the Healthcare sector median P/E of 24.0x, ILMN trades at a 89% premium to its sector peers. The sector includes 225 companies with P/E ratios ranging from 0.0x to 174.5x.
The PEG ratio of 10.73 (P/E divided by 171% EPS growth) suggests the stock may be expensive relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, ILMN commands a significant premium over the S&P 500 median P/E of 25.5x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our ILMN DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
ILMN Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
ILMN P/E vs Peers
Life Science Instruments and Sequencing Tools peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $245B | 37.1 | 17.58 | +7% | |
| $155B | 43.9 | - | -5% | |
| $47B | 36.6 | 2.49Best | +3% | |
| $10B | 13.6Lowest | - | +143%Best |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
ILMN Historical P/E Data (2006–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q2 | Jun 28 2026 | $176.55 | $5.36 | 32.9x | -54% |
| FY2026 Q1 | Mar 29 2026 | $117.67 | $5.51 | 21.4x | -70% |
| FY2025 Q4 | Dec 28 2025 | $134.95 | $5.46 | 24.7x | -65% |
| FY2025 Q3 | Sep 28 2025 | $91.69 | $4.46 | 20.6x | -71% |
| FY2025 Q2 | Jun 29 2025 | $94.79 | $7.90 | 12.0x | -83% |
| FY2022 Q1 | Apr 03 2022 | $353.65 | $4.58 | 77.2x | +8% |
| FY2021 Q4 | Dec 31 2021 | $369.72 | $5.04 | 73.4x | +3% |
| FY2021 Q3 | Oct 03 2021 | $383.72 | $6.08 | 63.1x | -12% |
| FY2021 Q2 | Jul 04 2021 | $461.36 | $5.22 | 88.4x | +24% |
| FY2021 Q1 | Apr 04 2021 | $374.19 | $4.28 | 87.5x | +22% |
| FY2020 Q4 | - | $359.58 | $4.45 | 80.8x | +13% |
| FY2020 Q3 | Sep 27 2020 | $291.44 | $4.31 | 67.5x | -6% |
| FY2020 Q2 | Jun 28 2020 | $349.94 | $4.68 | 74.7x | +4% |
| FY2020 Q1 | Mar 29 2020 | $261.47 | $6.35 | 41.1x | -42% |
| FY2019 Q4 | - | $322.40 | $6.74 | 47.8x | -33% |
| FY2019 Q3 | Sep 29 2019 | $292.79 | $6.54 | 44.8x | -37% |
| FY2019 Q2 | Jun 30 2019 | $357.78 | $6.30 | 56.8x | -21% |
| FY2019 Q1 | Mar 31 2019 | $301.94 | $5.72 | 52.8x | -26% |
| FY2018 Q4 | Dec 31 2018 | $291.48 | $5.57 | 52.3x | -27% |
| FY2018 Q3 | Sep 30 2018 | $356.72 | $4.62 | 77.2x | +8% |
| FY2018 Q2 | Jul 01 2018 | $271.42 | $4.38 | 62.0x | -13% |
| FY2018 Q1 | Apr 01 2018 | $229.76 | $3.84 | 59.8x | -16% |
| FY2017 Q4 | Dec 31 2017 | $212.34 | $4.97 | 42.7x | -40% |
| FY2017 Q3 | Oct 01 2017 | $193.59 | $5.35 | 36.2x | -49% |
| FY2017 Q2 | Jul 02 2017 | $168.63 | $5.12 | 32.9x | -54% |
| FY2017 Q1 | Apr 02 2017 | $165.83 | $5.06 | 32.8x | -54% |
| FY2016 Q4 | Dec 31 2016 | $124.43 | $3.13 | 39.8x | -44% |
| FY2016 Q3 | Oct 02 2016 | $176.54 | $2.99 | 59.0x | -17% |
| FY2016 Q2 | Jul 03 2016 | $136.77 | $2.91 | 47.0x | -34% |
| FY2016 Q1 | Apr 03 2016 | $162.16 | $2.79 | 58.1x | -19% |
| FY2015 Q4 | - | $186.54 | $3.10 | 60.2x | -16% |
| FY2015 Q3 | Sep 27 2015 | $170.60 | $3.43 | 49.7x | -30% |
| FY2015 Q2 | Jun 28 2015 | $211.92 | $3.27 | 64.8x | -9% |
| FY2015 Q1 | Mar 29 2015 | $181.90 | $2.89 | 62.9x | -12% |
| FY2014 Q4 | Dec 31 2014 | $179.38 | $2.37 | 75.7x | +6% |
| FY2014 Q3 | Sep 28 2014 | $160.78 | $1.90 | 84.6x | +18% |
| FY2014 Q2 | Jun 29 2014 | $167.84 | $1.49 | 112.6x | +58% |
| FY2014 Q1 | Mar 30 2014 | $138.02 | $1.44 | 95.8x | +34% |
| FY2013 Q4 | - | $107.48 | $0.86 | 125.0x | +75% |
| FY2013 Q3 | Sep 29 2013 | $78.73 | $0.83 | 94.9x | +33% |
| FY2013 Q2 | Jun 30 2013 | $72.73 | $0.83 | 87.6x | +23% |
| FY2013 Q1 | Mar 31 2013 | $52.46 | $0.75 | 69.9x | -2% |
| FY2012 Q4 | Dec 31 2012 | $54.02 | $1.13 | 47.8x | -33% |
| FY2012 Q3 | Sep 30 2012 | $46.83 | $0.69 | 67.5x | -6% |
| FY2012 Q2 | Jul 01 2012 | $39.25 | $0.62 | 62.9x | -12% |
| FY2012 Q1 | Apr 01 2012 | $51.13 | $0.66 | 77.0x | +8% |
| FY2011 Q4 | Dec 31 2011 | $29.62 | $0.62 | 47.5x | -34% |
| FY2011 Q3 | Oct 02 2011 | $39.77 | $0.78 | 51.0x | -29% |
| FY2011 Q2 | Jul 03 2011 | $73.87 | $0.87 | 84.9x | +19% |
| FY2011 Q1 | Apr 03 2011 | $68.77 | $0.86 | 80.0x | +12% |
| FY2010 Q4 | Dec 31 2010 | $61.56 | $0.86 | 71.6x | +0% |
| FY2010 Q3 | Oct 03 2010 | $47.71 | $0.70 | 68.5x | -4% |
| FY2010 Q2 | Jul 04 2010 | $41.88 | $0.58 | 72.7x | +2% |
| FY2010 Q1 | Apr 04 2010 | $38.19 | $0.55 | 69.9x | -2% |
| FY2009 Q4 | - | $29.82 | $0.53 | 56.7x | -21% |
| FY2009 Q3 | Sep 27 2009 | $39.51 | $0.66 | 59.9x | -16% |
| FY2009 Q2 | Jun 28 2009 | $37.09 | $0.48 | 77.4x | +8% |
| FY2009 Q1 | Mar 29 2009 | $36.17 | $0.42 | 86.3x | +21% |
| FY2008 Q4 | Dec 31 2008 | $25.32 | $0.39 | 65.1x | -9% |
| FY2008 Q3 | Sep 28 2008 | $41.21 | $0.13 | 311.5x | +336% |
| FY2008 Q2 | Jun 29 2008 | $42.17 | $0.31 | 134.6x | +88% |
| FY2008 Q1 | Mar 30 2008 | $36.10 | $0.27 | 132.2x | +85% |
| FY2006 Q4 | Dec 31 2006 | $19.10 | $0.40 | 47.7x | -33% |
| FY2006 Q3 | Oct 01 2006 | $16.05 | $0.23 | 68.6x | -4% |
| FY2006 Q2 | Jul 02 2006 | $14.41 | $0.06 | 255.5x | +257% |
Average P/E for displayed period: 71.5x
ILMN Chart Terminal
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Intrinsic Valuation
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Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
ILMN — Frequently Asked Questions
Quick answers to the most common questions about buying ILMN stock.
What is ILMN's P/E ratio?
Illumina, Inc. (ILMN) trailing twelve-month P/E ratio is 45.4x, based on TTM diluted EPS of $5.39. The 5-year average P/E is 54.9x and the historical range spans 12.0x to 88.4x.
Is ILMN stock overvalued or undervalued?
ILMN trades at 45.4x P/E, near its 5-year average of 54.9x. The 35th percentile ranking within the 12.0x–88.4x historical range places valuation within normal bounds.
Is ILMN stock expensive?
ILMN is fairly valued relative to its own history. The current P/E of 45.4x is near the 5-year average of 54.9x (35th percentile of historical range).
What is ILMN's historical P/E range?
Over the past 5 years, ILMN's P/E ratio has ranged from 12.0x to 88.4x, with a median of 56.8x and an average of 54.9x. The current P/E of 45.4x places the stock at the 35th percentile of this range. Full historical data spans 2006–2026.
How does ILMN's P/E compare to the S&P 500?
ILMN trades at 45.4x P/E versus the S&P 500 median of 25.5x. The 78% premium to the market typically reflects higher expected earnings growth or quality.
How does ILMN's valuation compare to Healthcare peers?
Illumina, Inc. P/E of 45.4x compares to the Healthcare sector median of 24.0x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is ILMN's PEG ratio?
ILMN PEG ratio is 10.73, based on a P/E of 45.4x and EPS growth of 170.9%. A PEG above 2.0 indicates a premium valuation relative to earnings growth — typically considered expensive.
What is ILMN's earnings yield?
ILMN earnings yield is 2.20%, the inverse of its 45.4x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.