Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates over 90% of its revenue from sequencing instruments, consumables, and services.
It is a $42.0B technology company. Revenue grew 4.9% over the last year, it keeps 18¢ of every dollar of sales as profit, and its net debt equals ~2.5 years of free cash flow. It trades at 50.9× earnings — around the middle of its own history.
- Website
- illumina.com
- Location
- San Diego, CA
- Employees
- 8 650
- Sector
- Technology
- Founded
- 1998
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong profitability and quality; Valuation, Growth and Health lag behind.
Valuation27
- P/E vs own history60th pct · 5/25
- FCF yield2.2% · 5/25
- P/S9.3x · 12/25
- EV/EBITDA39.8x · 5/25
Growth32
- Revenue CAGR-1.0% · 0/25
- Net income CAGR2.8% · 6/25
- EPS CAGR ~5Y4.2% · 6/25
- Fwd implied growth21.0% · 20/25
Profitability85
- ROIC16.8% · 20/25
- ROE31.1% · 25/25
- Net margin18.3% · 20/25
- Operating margin19.5% · 20/25
Health48
- Altman Z7.52 · 25/25
- Current ratio1.80 · 18/25
- Interest coverage-2.3x · 0/25
- Net cash / debtD/A 35% · 5/25
Quality82
- Piotroski F8/9 · 25/25
- Beneish M-2.45 · 20/25
- FCF conversion113% · 25/25
- Margin stabilityσ 10.2% · 12/25
Moat63
- ROIC >12% years6/10 yrs · 13/25
- Median gross margin67.2% · 25/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst -96.1% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2021AcquisitionThe FTC sued to block Illumina's $7.1 billion vertical merger with Grail
- 2020AcquisitionIllumina announced a proposed cash and stock deal to acquire Grail for $8 billion
- FY2019FinancialBest year on record$1.00B net income
- 2018AcquisitionIllumina proposed the acquisition of Pacific Biosciences for $8.00 per share or around $1.2…
- FY2016FinancialFirst recorded profitable year$463M net income
- FY2016FinancialRevenue already above $1B$2.40B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2015MilestoneIllumina spun off the company Grail, focused on blood testing for cancer tumors in the bloodstream
- Jan 11, 2011AcquisitionIllumina acquired Epicentre Biotechnologies, based in Madison, Wisconsin, on January 11, 2011
- 2001ProductIllumina began offering single nucleotide polymorphism (SNP) genotyping services in 2001 and launched its first…
- 2000IPOIllumina completed its initial public offering in July 2000
- 1999AcquisitionIllumina acquired Spyder Instruments (founded by Michal Lebl, Richard Houghten
- 1998FoundedIllumina was founded in April 1998 by David Walt, Larry Bock, John Stuelpnagel, Anthony Czarnik
- 1997AcquisitionIllumina also uses the DNA colony sequencing technology, invented in 1997 by Pascal Mayer and Laurent Farinelli and…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (66.4%)
- Strong cash conversion — FCF is 20.7% of revenue
- Could repay net debt from ~1.5 years of free cash flow
- High returns on invested capital (ROIC 16.8%)
- Piotroski F-Score 8/9 — fundamentally strong checklist
Watch-outs
- Thin interest coverage (-2.3×)
- Loss-making in 3 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+4.9% YoY
- Profitable — makes more than it spends$824M TTM
- Profit growing — earnings are higher than last year+4.2% YoY
- Generates cash — cash left after running and investing$931M TTM
- Debt under control — could handle its obligations~2.5y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$42.0B market cap
- Not printing shares — share count not ballooning — you keep your slice+5.4% shares over ~5y
- Proven track record — years of profitability behind it7/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 7.5 — safe
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 50.9
Peer comparisonIllumina Inc vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| ILMN this company | $42.0B | 50.9 | +4.9% | 18.3% | Solid |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: ILMN vs NVDA · ILMN vs AAPL · ILMN vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/ILMN
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of ILMN on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $278.00 · market cap $42.0B.