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Illumina (ILMN) Financials

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Annual Income Statements for Illumina

Annual Income Statements for Illumina

This table shows Illumina's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/3/2016 1/1/2017 12/31/2017 12/30/2018 12/29/2019 1/3/2021 1/2/2022 1/1/2023 12/31/2023 12/29/2024 12/28/2025
Net Income / (Loss) Attributable to Common Shareholders		 462 463 726 826 1,002 656 762 -4,404 -1,161 -1,223 850
Consolidated Net Income / (Loss)		 458 428 678 782 990 656 762 -4,404 -1,161 -1,223 850
Net Income / (Loss) Continuing Operations		 458 428 678 782 990 656 762 -4,404 -1,161 -1,223 850
Total Pre-Tax Income 		583 561 1,043 894 1,118 856 884 -4,336 -1,117 -1,179 1,086
Total Operating Income		 613 587 606 883 985 580 -123 -4,179 -1,069 -833 807
Total Gross Profit		 1,549 1,666 1,826 2,300 2,467 2,203 3,154 2,972 2,744 2,861 2,870
Total Revenue		 2,220 2,398 2,752 3,333 3,543 3,239 4,526 4,584 4,504 4,372 4,343
Operating Revenue		 2,220 2,398 2,752 3,333 3,543 3,239 4,526 4,584 4,504 4,372 4,343
Total Cost of Revenue		 671 732 926 1,033 1,076 1,036 1,372 1,612 1,760 1,511 1,473
Operating Cost of Revenue		 671 732 926 1,033 1,076 1,036 1,372 1,612 1,760 1,511 1,473
Total Operating Expenses		 936 1,079 1,220 1,417 1,482 1,623 3,277 7,151 3,813 3,694 2,063
Selling, General & Admin Expense		 516 584 674 794 835 941 2,092 1,297 1,612 1,092 1,086
Research & Development Expense		 401 504 546 623 647 682 1,185 1,321 1,354 1,169 967
Impairment Charge		 - - - - - 0.00 0.00 3,914 827 1,889 0.00
Other Special Charges / (Income)		 19 -9.00 - - - 0.00 0.00 619 20 -456 10
Total Other Income / (Expense), net		 -30 -26 437 11 133 276 1,007 -157 -48 -346 279
Interest Expense		 43 33 37 57 52 49 61 26 77 100 101
Interest & Investment Income		 21 10 19 44 75 41 0.00 11 58 46 40
Other Income / (Expense), net		 -8.00 -3.00 455 24 110 284 1,068 -142 -29 -292 340
Income Tax Expense		 125 133 365 112 128 200 122 68 44 44 236
Basic Earnings per Share		 $3.19 $3.09 $4.96 $5.63 $6.81 $4.48 $5.07 ($28.00) ($7.34) ($7.69) $5.47
Weighted Average Basic Shares Outstanding		 145M 147M 146M 147M 147M 147M 150M 157M 158M 159M 155M
Diluted Earnings per Share		 $3.10 $3.07 $4.92 $5.56 $6.74 $4.45 $5.04 ($28.00) ($7.34) ($7.69) $5.45
Weighted Average Diluted Shares Outstanding		 149M 148M 148M 149M 149M 148M 151M 157M 158M 159M 156M
Weighted Average Basic & Diluted Shares Outstanding		 144.70M 149.80M 146.40M 146.70M 147M 145.90M 157M 158M 158.90M 158.40M 152.90M

Quarterly Income Statements for Illumina

This table shows Illumina's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 10/1/2023 12/31/2023 3/31/2024 6/30/2024 9/29/2024 12/29/2024 3/30/2025 6/29/2025 9/28/2025 12/28/2025 3/29/2026
Net Income / (Loss) Attributable to Common Shareholders		 -754 -176 -126 -1,988 705 186 131 235 150 334 134
Consolidated Net Income / (Loss)		 -754 -176 -126 -1,988 705 186 131 235 150 334 134
Net Income / (Loss) Continuing Operations		 -754 -176 -126 -1,988 705 186 131 235 150 334 134
Total Pre-Tax Income 		-782 -168 -109 -1,976 720 186 182 306 220 378 157
Total Operating Income		 -754 -163 -111 -1,637 741 174 164 214 227 202 209
Total Gross Profit		 684 673 667 721 745 728 683 695 733 759 721
Total Revenue		 1,119 1,122 1,076 1,112 1,080 1,104 1,041 1,059 1,084 1,159 1,091
Operating Revenue		 1,119 1,122 1,076 1,112 1,080 1,104 1,041 1,059 1,084 1,159 1,091
Total Cost of Revenue		 435 449 409 391 335 376 358 364 351 400 370
Operating Cost of Revenue		 435 449 409 391 335 376 358 364 351 400 370
Total Operating Expenses		 1,438 836 778 2,358 4.00 554 519 481 506 557 512
Selling, General & Admin Expense		 303 469 439 147 239 267 267 234 277 308 272
Research & Development Expense		 315 340 339 325 253 252 252 247 229 239 240
Total Other Income / (Expense), net		 -28 -5.00 2.00 -339 -21 12 18 92 -7.00 176 -52
Interest Expense		 19 19 18 20 36 26 25 25 25 26 24
Interest & Investment Income		 13 11 12 13 11 10 11 10 9.00 10 11
Other Income / (Expense), net		 -22 3.00 8.00 -332 4.00 28 32 107 9.00 192 -39
Income Tax Expense		 -28 8.00 17 12 15 - 51 71 70 44 23
Basic Earnings per Share		 ($4.77) ($1.11) ($0.79) ($12.48) $4.43 $1.17 $0.83 $1.49 $0.98 $2.15 $0.88
Weighted Average Basic Shares Outstanding		 158M 158M 159M 159M 159M 159M 159M 157M 153M 155M 153M
Diluted Earnings per Share		 ($4.77) ($1.11) ($0.79) ($12.48) $4.42 $1.17 $0.82 $1.49 $0.98 $2.15 $0.87
Weighted Average Diluted Shares Outstanding		 158M 158M 159M 159M 160M 159M 159M 157M 154M 156M 154M
Weighted Average Basic & Diluted Shares Outstanding		 158.80M 158.90M 159.30M 159.30M 158.60M 158.40M 158.30M 153.70M 152.80M 152.90M 151.30M

Annual Cash Flow Statements for Illumina

This table details how cash moves in and out of Illumina's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/3/2016 1/1/2017 12/31/2017 12/30/2018 12/29/2019 1/3/2021 1/2/2022 1/1/2023 12/31/2023 12/29/2024 12/28/2025
Net Change in Cash & Equivalents		 133 -34 490 -77 898 -232 -578 779 -963 79 291
Net Cash From Operating Activities		 786 779 875 1,142 1,051 1,080 545 392 478 837 1,079
Net Cash From Continuing Operating Activities		 786 779 875 1,142 1,051 1,080 545 392 478 837 1,079
Net Income / (Loss) Continuing Operations		 458 428 678 782 990 656 762 -4,404 -1,161 -1,223 850
Consolidated Net Income / (Loss)		 458 428 678 782 990 656 762 -4,404 -1,161 -1,223 850
Depreciation Expense		 73 90 110 140 151 156 176 215 235 224 203
Amortization Expense		 93 81 76 80 83 71 107 179 197 130 67
Non-Cash Adjustments To Reconcile Net Income		 121 131 -265 176 10 7.00 -276 4,426 1,354 2,616 11
Changes in Operating Assets and Liabilities, net		 41 49 276 -36 -183 190 -224 -24 -147 -910 -52
Net Cash From Investing Activities		 -107 -515 -214 -1,813 745 -554 -1,069 -591 -231 -178 -55
Net Cash From Continuing Investing Activities		 -107 -515 -214 -1,813 745 -554 -1,069 -591 -231 -178 -55
Purchase of Property, Plant & Equipment		 -143 -260 -310 -296 -209 -189 -208 -286 -195 -128 -148
Acquisitions		 -37 -29 -2.00 -100 -29 -98 -2,444 -265 -30 -81 -10
Purchase of Investments		 -797 -895 -742 -2,859 -1,048 -2,058 221 -40 -6.00 -52 103
Divestitures		 0.00 0.00 278 0.00 15 - - 0.00 0.00 83 0.00
Net Cash From Financing Activities		 -545 -296 -176 594 -897 -766 -51 1,000 -1,210 -570 -744
Net Cash From Continuing Financing Activities		 -545 -296 -176 594 -897 -766 -51 1,000 -1,210 -570 -744
Repayment of Debt		 -245 -66 -9.00 -4.00 -550 0.00 -517 0.00 -1,235 -750 -500
Repurchase of Common Equity		 -274 -249 -251 -201 -324 -736 - 0.00 0.00 -116 -742
Payment of Dividends		 -3.00 -29 -3.00 - - - - 0.00 -1.00 -1.00 -1.00
Issuance of Debt		 0.00 5.00 5.00 735 0.00 0.00 988 991 -1.00 1,241 495
Issuance of Common Equity		 104 136 150 138 59 61 60 63 67 56 44
Other Financing Activities, net		 -127 -93 -68 -74 -82 -91 -582 -54 -40 -1,000 -40
Effect of Exchange Rate Changes		 -1.00 -2.00 - - -1.00 8.00 -3.00 -22 0.00 -10 11
Cash Interest Paid		 - - - - - - 9.00 17 73 83 95
Cash Income Taxes Paid		 17 60 149 99 164 119 233 122 65 105 73

Quarterly Cash Flow Statements for Illumina

This table details how cash moves in and out of Illumina's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 10/1/2023 12/31/2023 3/31/2024 6/30/2024 9/29/2024 12/29/2024 3/30/2025 6/29/2025 9/28/2025 12/28/2025 3/29/2026
Net Change in Cash & Equivalents		 -626 121 60 -188 -51 258 -14 -179 116 368 -329
Net Cash From Operating Activities		 139 224 77 80 316 364 240 234 284 321 289
Net Cash From Continuing Operating Activities		 139 224 77 80 316 364 240 234 284 321 289
Net Income / (Loss) Continuing Operations		 -755 -175 -126 -1,988 704 187 131 235 150 334 134
Consolidated Net Income / (Loss)		 -755 -175 -126 -1,988 704 187 131 235 150 334 134
Depreciation Expense		 59 60 59 57 54 54 52 51 50 50 51
Amortization Expense		 49 49 49 48 16 17 17 17 17 16 18
Non-Cash Adjustments To Reconcile Net Income		 973 145 129 2,308 113 66 39 2.00 79 -109 106
Changes in Operating Assets and Liabilities, net		 -187 145 -34 -345 -571 40 1.00 -71 -12 30 -20
Net Cash From Investing Activities		 -53 -85 -48 -41 -41 -48 -63 -49 -51 108 -366
Net Cash From Continuing Investing Activities		 -53 -85 -48 -41 -41 -48 -63 -49 -51 108 -366
Purchase of Property, Plant & Equipment		 -45 -51 -36 -31 -32 -29 -32 -30 -31 -55 -38
Acquisitions		 - -29 0.00 - -81 - -7.00 - - -3.00 -415
Purchase of Investments		 10 -5.00 -12 -10 -11 -19 -24 -19 -20 166 87
Net Cash From Financing Activities		 -707 -27 35 -226 -332 -47 -195 -371 -115 -63 -251
Net Cash From Continuing Financing Activities		 -707 -27 35 -226 -332 -47 -195 -371 -115 -63 -251
Repurchase of Common Equity		 - - 0.00 - - -17 -200 -370 -130 -42 -242
Issuance of Common Equity		 30 - 36 - 20 - 27 1.00 16 - 24
Other Financing Activities, net		 -2.00 -26 -1.00 -969 - -30 -22 -1.00 -1.00 -16 -33
Effect of Exchange Rate Changes		 -5.00 9.00 -4.00 -1.00 6.00 -11 4.00 7.00 -2.00 2.00 -1.00

Annual Balance Sheets for Illumina

This table presents Illumina's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/3/2016 1/1/2017 12/31/2017 12/30/2018 12/29/2019 1/3/2021 1/2/2022 1/1/2023 12/31/2023 12/29/2024 12/28/2025
Total Assets		 3,688 4,281 5,257 6,959 7,316 7,585 15,217 12,252 10,111 6,303 6,644
Total Current Assets		 2,097 2,318 2,980 4,490 4,451 4,483 2,713 3,561 2,609 2,746 3,289
Cash & Equivalents		 769 735 1,225 1,144 2,042 1,810 1,232 2,011 1,048 1,127 1,418
Short-Term Investments		 617 824 920 2,368 1,372 1,662 107 26 6.00 93 215
Accounts Receivable		 386 381 411 514 573 487 648 671 734 735 854
Inventories, net		 271 300 333 386 359 372 431 568 587 547 564
Prepaid Expenses		 54 78 91 78 105 152 295 285 234 244 238
Plant, Property, & Equipment, net		 343 713 931 1,075 889 922 1,024 1,091 1,007 815 759
Total Noncurrent Assets		 1,248 1,250 1,346 1,394 1,976 2,180 11,480 7,600 6,495 2,742 2,596
Goodwill		 753 776 771 831 824 897 7,113 3,239 2,545 1,113 1,113
Intangible Assets		 274 243 175 185 145 142 3,250 3,285 2,993 295 210
Noncurrent Deferred & Refundable Income Taxes		 135 123 88 70 64 - - - 56 567 454
Other Noncurrent Operating Assets		 87 108 312 308 943 1,141 1,117 1,076 901 767 819
Total Liabilities & Shareholders' Equity		 3,688 4,281 5,257 6,959 7,316 7,585 15,217 12,252 10,111 6,303 6,644
Total Liabilities		 1,807 1,967 2,288 3,053 2,703 2,891 4,477 5,653 4,366 3,930 3,921
Total Current Liabilities		 610 705 746 1,804 665 1,244 1,093 2,773 1,570 1,547 1,585
Short-Term Debt		 75 2.00 10 1,107 0.00 511 0.00 1,248 0.00 499 499
Accounts Payable		 139 138 160 184 149 192 332 293 245 221 240
Accrued Expenses		 387 342 432 513 516 541 761 1,232 1,325 827 846
Total Noncurrent Liabilities		 1,196 1,262 1,542 1,249 2,038 1,647 3,384 2,880 2,796 2,383 2,336
Long-Term Debt		 1,016 1,056 1,182 890 1,141 673 1,695 1,487 1,489 1,490 1,490
Other Noncurrent Operating Liabilities		 181 206 360 359 897 974 1,689 1,393 1,307 893 846
Total Equity & Noncontrolling Interests		 1,849 2,270 2,749 3,845 4,613 4,694 10,740 6,599 5,745 2,373 2,723
Total Preferred & Common Equity		 1,849 2,197 2,749 3,758 4,613 4,694 10,740 6,599 5,745 2,373 2,723
Total Common Equity		 1,849 2,197 2,749 3,758 4,613 4,694 10,740 6,599 5,745 2,373 2,723
Common Stock		 2,499 2,735 2,835 3,292 3,562 3,817 8,940 9,209 9,557 7,527 7,824
Retained Earnings		 1,023 1,485 2,256 3,083 4,067 4,723 5,485 1,142 -19 -1,242 -392
Treasury Stock		 -1,674 -2,022 -2,341 -2,616 -3,021 -3,848 -3,702 -3,755 -3,792 -3,934 -4,699
Accumulated Other Comprehensive Income / (Loss)		 0.04 -1.00 -1.00 -1.00 5.00 2.00 17 3.00 -1.00 22 -10

Quarterly Balance Sheets for Illumina

This table presents Illumina's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 7/2/2023 10/1/2023 12/31/2023 3/31/2024 6/30/2024 9/29/2024 12/29/2024 3/30/2025 6/29/2025 9/28/2025 3/29/2026
Total Assets		 11,774 10,122 10,111 10,040 6,081 6,014 6,303 6,182 6,087 6,177 6,559
Total Current Assets		 3,223 2,506 2,609 2,583 2,459 2,373 2,746 2,673 2,641 2,796 2,738
Cash & Equivalents		 1,553 927 1,048 1,108 920 869 1,127 1,113 934 1,050 1,089
Short-Term Investments		 6.00 6.00 6.00 - 74 70 93 124 221 228 66
Accounts Receivable		 741 690 734 635 641 699 735 699 701 729 738
Inventories, net		 617 615 587 584 561 574 547 537 575 590 611
Prepaid Expenses		 306 268 234 256 263 161 244 200 210 199 234
Plant, Property, & Equipment, net		 1,069 1,040 1,007 964 859 832 815 782 764 748 755
Total Noncurrent Assets		 7,482 6,576 6,495 6,493 2,763 2,809 2,742 2,727 2,682 2,633 3,066
Goodwill		 3,239 2,527 2,545 2,545 1,079 1,113 1,113 1,113 1,113 1,113 1,284
Intangible Assets		 3,188 3,029 2,993 2,940 278 305 295 278 238 225 430
Noncurrent Deferred & Refundable Income Taxes		 - - 56 - 632 617 567 553 534 490 458
Other Noncurrent Operating Assets		 1,055 1,020 901 1,008 774 774 767 783 797 805 894
Total Liabilities & Shareholders' Equity		 11,774 10,122 10,111 10,040 6,081 6,014 6,303 6,182 6,087 6,177 6,559
Total Liabilities		 5,219 4,224 4,366 4,306 4,645 3,889 3,930 3,814 3,829 3,796 3,883
Total Current Liabilities		 2,303 1,482 1,570 1,474 2,208 975 1,547 1,440 1,461 1,962 1,566
Short-Term Debt		 750 0.00 0.00 - 744 - 499 499 499 998 499
Accounts Payable		 244 240 245 201 199 191 221 207 200 218 218
Accrued Expenses		 1,309 1,242 1,325 1,273 1,265 784 827 734 762 746 849
Total Noncurrent Liabilities		 2,916 2,742 2,796 2,832 2,437 2,914 2,383 2,374 2,368 1,834 2,317
Long-Term Debt		 1,488 1,489 1,489 1,490 1,490 1,988 1,490 1,491 1,492 994 1,490
Other Noncurrent Operating Liabilities		 1,428 1,253 1,307 1,342 947 926 893 883 876 840 827
Total Equity & Noncontrolling Interests		 6,555 5,898 5,745 5,734 1,436 2,125 2,373 2,368 2,258 2,381 2,676
Total Preferred & Common Equity		 6,555 5,898 5,745 5,734 1,436 2,125 2,373 2,368 2,258 2,381 2,676
Total Common Equity		 6,555 5,898 5,745 5,734 1,436 2,125 2,373 2,368 2,258 2,381 2,676
Common Stock		 9,399 9,489 9,557 9,660 7,349 7,451 7,527 7,610 7,678 7,764 7,864
Retained Earnings		 911 157 -19 -145 -2,133 -1,428 -1,242 -1,111 -876 -726 -258
Treasury Stock		 -3,767 -3,769 -3,792 -3,793 - -3,893 -3,934 -4,139 -4,523 -4,645 -4,931
Accumulated Other Comprehensive Income / (Loss)		 12 21 -1.00 12 14 -5.00 22 8.00 -21 -12 1.00

Annual Metrics And Ratios for Illumina

This table displays calculated financial ratios and metrics derived from Illumina's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/3/2016 1/1/2017 12/31/2017 12/30/2018 12/29/2019 1/3/2021 1/2/2022 1/1/2023 12/31/2023 12/29/2024 12/28/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 19.27% 8.02% 14.76% 21.11% 6.30% -8.58% 39.73% 1.28% -1.75% -2.93% -0.66%
EBITDA Growth		 21.84% -2.08% 65.17% -9.62% 17.92% -17.91% 12.56% -419.79% 83.04% -15.77% 283.79%
EBIT Growth		 25.48% -3.47% 81.68% -14.51% 20.73% -21.10% 9.38% -557.25% 74.59% -2.46% 201.96%
NOPAT Growth		 18.82% -7.00% -12.04% 96.07% 12.93% -49.04% -123.85% -2,659.07% 74.42% 22.08% 208.32%
Net Income Growth		 29.62% -6.55% 58.41% 15.34% 26.60% -33.74% 16.16% -677.95% 73.64% -5.34% 169.50%
EPS Growth		 30.80% -0.97% 60.26% 13.01% 21.22% -33.98% 13.26% -677.95% 73.64% -4.77% 170.87%
Operating Cash Flow Growth		 56.80% -0.89% 12.32% 30.51% -7.97% 2.76% -49.54% -28.07% 21.94% 75.10% 28.91%
Free Cash Flow Firm Growth		 -44.89% 15.28% -13.33% 108.13% 132.33% -59.00% -2,424.00% 109.93% -57.80% 565.83% -71.70%
Invested Capital Growth		 22.43% 14.35% 11.20% 18.60% -2.13% 2.82% 361.18% -34.24% -15.31% -49.16% -2.01%
Revenue Q/Q Growth		 3.71% 1.15% 6.13% 27.46% -13.31% 0.03% 5.75% -2.45% 0.85% -0.41% 1.28%
EBITDA Q/Q Growth		 -6.86% -0.20% 7.87% 0.45% 3.02% 3.90% -11.78% -6.97% 1.33% 29.59% 15.20%
EBIT Q/Q Growth		 -8.92% -0.84% 9.38% -1.52% 4.68% 4.22% -17.32% -6.59% 0.54% 24.34% 20.10%
NOPAT Q/Q Growth		 -9.62% 0.79% -0.50% 19.20% 6.50% -19.42% -300.08% -4.21% -3.49% 28.80% 3.26%
Net Income Q/Q Growth		 -9.81% 0.83% -6.74% 21.62% 4.43% 2.82% -15.89% -6.07% -3.29% 22.84% 21.08%
EPS Q/Q Growth		 -9.62% 2.68% -6.11% 20.61% 2.90% 3.49% -15.44% -6.07% -3.29% 22.87% 18.74%
Operating Cash Flow Q/Q Growth		 40.42% -11.86% 3.80% 0.53% 15.75% -3.31% -18.54% -25.62% 19.20% 20.09% -3.83%
Free Cash Flow Firm Q/Q Growth		 7.80% -3.32% 44.87% 5.14% 14.69% -6.91% -3.57% 12.45% 45.21% -0.25% 0.57%
Invested Capital Q/Q Growth		 -3.29% -2.31% -4.91% 0.04% -2.66% -5.61% 0.74% -1.80% -4.25% -1.01% -0.52%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 69.77% 69.47% 66.35% 69.01% 69.63% 68.01% 69.69% 64.83% 60.92% 65.44% 66.08%
EBITDA Margin		 34.73% 31.48% 45.31% 33.81% 37.51% 33.68% 27.13% -85.67% -14.79% -17.63% 32.63%
Operating Margin		 27.61% 24.48% 22.02% 26.49% 27.80% 17.91% -2.72% -91.16% -23.73% -19.05% 18.58%
EBIT Margin		 27.25% 24.35% 38.55% 27.21% 30.91% 26.67% 20.88% -94.26% -24.38% -25.73% 26.41%
Profit (Net Income) Margin		 20.63% 17.85% 24.64% 23.46% 27.94% 20.25% 16.84% -96.07% -25.78% -27.97% 19.57%
Tax Burden Percent		 78.56% 76.29% 65.00% 87.47% 88.55% 76.64% 86.20% 101.57% 103.94% 103.73% 78.27%
Interest Burden Percent		 96.36% 96.06% 98.30% 98.57% 102.10% 99.07% 93.55% 100.35% 101.73% 104.80% 94.68%
Effective Tax Rate		 21.44% 23.71% 35.00% 12.53% 11.45% 23.36% 13.80% 0.00% 0.00% 0.00% 21.73%
Return on Invested Capital (ROIC)		 33.44% 26.36% 20.58% 35.05% 36.87% 18.73% -1.57% -31.81% -11.10% -12.51% 20.31%
ROIC Less NNEP Spread (ROIC-NNEP)		 30.68% 31.34% -18.50% 34.27% 30.65% 9.46% -91.43% -312.40% -83.96% -118.81% 59.13%
Return on Net Nonoperating Assets (RNNOA)		 44.79% -5.95% 5.09% -12.30% -13.63% -4.63% 11.44% -18.99% -7.71% -17.62% 13.05%
Return on Equity (ROE)		 78.23% 20.40% 25.67% 22.75% 23.24% 14.10% 9.87% -50.80% -18.81% -30.13% 33.36%
Cash Return on Invested Capital (CROIC)		 13.27% 12.96% 9.97% 18.03% 39.03% 15.95% -130.29% 9.50% 5.47% 52.67% 22.33%
Operating Return on Assets (OROA)		 17.22% 14.66% 22.25% 14.85% 15.34% 11.60% 8.29% -31.46% -9.82% -13.71% 17.72%
Return on Assets (ROA)		 13.03% 10.74% 14.22% 12.80% 13.87% 8.80% 6.68% -32.07% -10.38% -14.90% 13.13%
Return on Common Equity (ROCE)		 76.05% 19.68% 24.03% 21.53% 22.84% 14.10% 9.87% -50.80% -18.81% -30.13% 33.36%
Return on Equity Simple (ROE_SIMPLE)		 24.78% 19.48% 24.66% 20.81% 21.46% 13.98% 7.10% -66.74% -20.21% -51.54% 0.00%
Net Operating Profit after Tax (NOPAT)		 482 448 394 772 872 444 -106 -2,925 -748 -583 632
NOPAT Margin		 21.69% 18.68% 14.31% 23.17% 24.62% 13.72% -2.34% -63.82% -16.61% -13.34% 14.54%
Net Nonoperating Expense Percent (NNEP)		 2.76% -4.98% 39.07% 0.78% 6.22% 9.27% 89.86% 280.59% 72.85% 106.30% -38.82%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -31.34% -10.34% -13.37% 13.40%
Cost of Revenue to Revenue		 30.23% 30.53% 33.65% 30.99% 30.37% 31.99% 30.31% 35.17% 39.08% 34.56% 33.92%
SG&A Expenses to Revenue		 23.24% 24.35% 24.49% 23.82% 23.57% 29.05% 46.22% 28.29% 35.79% 24.98% 25.01%
R&D to Revenue		 18.06% 21.02% 19.84% 18.69% 18.26% 21.06% 26.18% 28.82% 30.06% 26.74% 22.27%
Operating Expenses to Revenue		 42.16% 45.00% 44.33% 42.51% 41.83% 50.11% 72.40% 156.00% 84.66% 84.49% 47.50%
Earnings before Interest and Taxes (EBIT)		 605 584 1,061 907 1,095 864 945 -4,321 -1,098 -1,125 1,147
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 771 755 1,247 1,127 1,329 1,091 1,228 -3,927 -666 -771 1,417
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 15.20 8.56 11.60 11.67 10.59 11.51 5.54 4.82 3.85 9.04 7.57
Price to Tangible Book Value (P/TBV)		 34.17 15.97 17.69 15.99 13.40 14.78 157.73 424.08 106.82 22.23 14.73
Price to Revenue (P/Rev)		 12.66 7.84 11.59 13.15 13.79 16.68 13.14 6.94 4.91 4.91 4.75
Price to Earnings (P/E)		 60.82 40.62 43.94 53.07 48.75 82.35 78.04 0.00 0.00 0.00 24.26
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.64% 2.46% 2.28% 1.88% 2.05% 1.21% 1.28% 0.00% 0.00% 0.00% 4.12%
Enterprise Value to Invested Capital (EV/IC)		 17.56 10.16 15.46 17.76 19.90 21.50 5.39 4.45 3.65 7.07 6.81
Enterprise Value to Revenue (EV/Rev)		 12.54 7.68 11.33 12.74 13.15 15.97 13.22 7.09 5.01 5.08 4.83
Enterprise Value to EBITDA (EV/EBITDA)		 36.11 24.40 24.99 37.69 35.04 47.42 48.71 0.00 0.00 0.00 14.80
Enterprise Value to EBIT (EV/EBIT)		 46.01 31.55 29.37 46.83 42.53 59.88 63.30 0.00 0.00 0.00 18.29
Enterprise Value to NOPAT (EV/NOPAT)		 57.81 41.14 79.12 54.99 53.40 116.39 0.00 0.00 0.00 0.00 33.21
Enterprise Value to Operating Cash Flow (EV/OCF)		 35.42 23.65 35.62 37.19 44.31 47.90 109.76 82.92 47.17 26.55 19.44
Enterprise Value to Free Cash Flow (EV/FCFF)		 145.67 83.64 163.24 106.88 50.45 136.68 0.00 37.20 61.15 9.05 30.20
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.58 0.46 0.40 0.51 0.25 0.25 0.16 0.41 0.26 0.84 0.73
Long-Term Debt to Equity		 0.54 0.46 0.40 0.23 0.25 0.14 0.16 0.23 0.26 0.63 0.55
Financial Leverage		 1.46 -0.19 -0.28 -0.36 -0.44 -0.49 -0.13 0.06 0.09 0.15 0.22
Leverage Ratio		 6.00 1.90 1.81 1.78 1.68 1.60 1.48 1.58 1.81 2.02 2.54
Compound Leverage Factor		 5.78 1.82 1.77 1.75 1.71 1.59 1.38 1.59 1.84 2.12 2.41
Debt to Total Capital		 36.70% 31.38% 28.65% 33.83% 19.83% 20.14% 13.63% 29.30% 20.58% 45.60% 42.21%
Short-Term Debt to Total Capital		 2.52% 0.06% 0.24% 18.75% 0.00% 8.69% 0.00% 13.37% 0.00% 11.44% 10.59%
Long-Term Debt to Total Capital		 34.18% 31.32% 28.41% 15.08% 19.83% 11.45% 13.63% 15.93% 20.58% 34.16% 31.62%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.10% 3.47% 5.29% 2.51% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 62.21% 65.15% 66.07% 63.66% 80.17% 79.86% 86.37% 70.70% 79.42% 54.40% 57.79%
Debt to EBITDA		 1.41 1.40 0.96 1.77 0.86 1.09 1.38 -0.70 -2.24 -2.58 1.40
Net Debt to EBITDA		 -0.38 -0.66 -0.76 -1.34 -1.71 -2.10 0.29 -0.18 -0.65 -1.00 0.25
Long-Term Debt to EBITDA		 1.32 1.40 0.95 0.79 0.86 0.62 1.38 -0.38 -2.24 -1.93 1.05
Debt to NOPAT		 2.26 2.36 3.03 2.59 1.31 2.66 -15.99 -0.93 -1.99 -3.41 3.15
Net Debt to NOPAT		 -0.61 -1.12 -2.42 -1.96 -2.61 -5.15 -3.36 -0.24 -0.58 -1.32 0.56
Long-Term Debt to NOPAT		 2.11 2.36 3.00 1.15 1.31 1.51 -15.99 -0.51 -1.99 -2.56 2.36
Altman Z-Score		 11.35 7.69 10.67 10.61 13.22 13.40 9.10 2.79 3.25 3.33 4.60
Noncontrolling Interest Sharing Ratio		 2.78% 3.56% 6.38% 5.35% 1.74% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.43 3.29 3.99 2.49 6.69 3.60 2.48 1.28 1.66 1.78 2.08
Quick Ratio		 2.90 2.75 3.43 2.23 6.00 3.18 1.82 0.98 1.14 1.26 1.57
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 191 220 191 397 923 378 -8,796 874 369 2,455 695
Operating Cash Flow to CapEx		 549.65% 299.62% 282.26% 385.81% 502.87% 571.43% 262.02% 137.06% 245.13% 653.91% 729.05%
Free Cash Flow to Firm to Interest Expense		 4.44 6.68 5.16 6.97 17.75 7.72 -144.20 33.60 4.79 24.55 6.88
Operating Cash Flow to Interest Expense		 18.28 23.61 23.65 20.04 20.21 22.04 8.93 15.08 6.21 8.37 10.68
Operating Cash Flow Less CapEx to Interest Expense		 14.95 15.73 15.27 14.84 16.19 18.18 5.52 4.08 3.68 7.09 9.22
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.63 0.60 0.58 0.55 0.50 0.43 0.40 0.33 0.40 0.53 0.67
Accounts Receivable Turnover		 6.58 6.26 6.95 7.21 6.52 6.11 7.98 6.95 6.41 5.95 5.47
Inventory Turnover		 2.91 2.56 2.93 2.87 2.89 2.83 3.42 3.23 3.05 2.66 2.65
Fixed Asset Turnover		 7.30 4.54 3.35 3.32 3.61 3.58 4.65 4.33 4.29 4.80 5.52
Accounts Payable Turnover		 6.05 5.28 6.21 6.01 6.46 6.08 5.24 5.16 6.54 6.49 6.39
Days Sales Outstanding (DSO)		 55.49 58.34 52.52 50.65 55.99 59.73 45.77 52.51 56.93 61.32 66.77
Days Inventory Outstanding (DIO)		 125.63 142.30 124.75 127.03 126.36 128.77 106.81 113.10 119.77 136.97 137.65
Days Payable Outstanding (DPO)		 60.34 69.12 58.73 60.77 56.48 60.07 69.70 70.76 55.79 56.28 57.12
Cash Conversion Cycle (CCC)		 120.78 131.52 118.55 116.90 125.87 128.43 82.88 94.85 120.91 142.00 147.31
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,585 1,813 2,016 2,391 2,340 2,406 11,096 7,297 6,180 3,142 3,079
Invested Capital Turnover		 1.54 1.41 1.44 1.51 1.50 1.36 0.67 0.50 0.67 0.94 1.40
Increase / (Decrease) in Invested Capital		 290 228 203 375 -51 66 8,690 -3,799 -1,117 -3,038 -63
Enterprise Value (EV)		 27,838 18,425 31,167 42,473 46,574 51,732 59,819 32,504 22,546 22,223 20,976
Market Capitalization		 28,101 18,809 31,900 43,840 48,847 54,020 59,463 31,806 22,111 21,454 20,620
Book Value per Share		 $12.63 $14.96 $18.83 $25.56 $31.38 $32.15 $68.71 $41.95 $36.18 $14.96 $17.82
Tangible Book Value per Share		 $5.62 $8.02 $12.35 $18.65 $24.79 $25.03 $2.41 $0.48 $1.30 $6.08 $9.16
Total Capital		 2,972 3,372 4,161 5,903 5,754 5,878 12,435 9,334 7,234 4,362 4,712
Total Debt		 1,091 1,058 1,192 1,997 1,141 1,184 1,695 2,735 1,489 1,989 1,989
Total Long-Term Debt		 1,016 1,056 1,182 890 1,141 673 1,695 1,487 1,489 1,490 1,490
Net Debt		 -296 -501 -953 -1,515 -2,273 -2,288 356 698 435 769 356
Capital Expenditures (CapEx)		 143 260 310 296 209 189 208 286 195 128 148
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 175 56 99 281 372 278 281 -1.00 -15 478 570
Debt-free Net Working Capital (DFNWC)		 1,561 1,615 2,244 3,793 3,786 3,750 1,620 2,036 1,039 1,698 2,203
Net Working Capital (NWC)		 1,486 1,613 2,234 2,686 3,786 3,239 1,620 788 1,039 1,199 1,704
Net Nonoperating Expense (NNE)		 24 20 -284 -9.62 -118 -212 -868 1,479 413 640 -218
Net Nonoperating Obligations (NNO)		 -296 -501 -953 -1,515 -2,273 -2,288 356 698 435 769 356
Total Depreciation and Amortization (D&A)		 166 171 186 220 234 227 283 394 432 354 270
Debt-free, Cash-free Net Working Capital to Revenue		 7.88% 2.34% 3.60% 8.43% 10.50% 8.58% 6.21% -0.02% -0.33% 10.93% 13.12%
Debt-free Net Working Capital to Revenue		 70.33% 67.35% 81.54% 113.80% 106.86% 115.78% 35.79% 44.42% 23.07% 38.84% 50.73%
Net Working Capital to Revenue		 66.95% 67.26% 81.18% 80.59% 106.86% 100.00% 35.79% 17.19% 23.07% 27.42% 39.24%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.10 $3.00 $4.82 $5.47 $6.62 $4.35 $4.93 ($27.21) ($7.13) ($7.69) $5.47
Adjusted Weighted Average Basic Shares Outstanding		 149.02M 151.04M 150.23M 151.26M 151.26M 151.26M 154.35M 161.55M 162.58M 159M 155M
Adjusted Diluted Earnings per Share		 $3.01 $2.98 $4.78 $5.40 $6.55 $4.32 $4.90 ($27.21) ($7.13) ($7.69) $5.45
Adjusted Weighted Average Diluted Shares Outstanding		 153.39M 152.33M 152.29M 153.32M 153.32M 152.29M 155.38M 161.55M 162.58M 159M 156M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $6.62 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 151.26M 150.54M 151.26M 151.26M 151.26M 150.13M 161.55M 162.58M 163.51M 158.40M 152.90M
Normalized Net Operating Profit after Tax (NOPAT)		 496 441 394 772 872 444 -106 248 -155 420 639
Normalized NOPAT Margin		 22.36% 18.39% 14.31% 23.17% 24.62% 13.72% -2.34% 5.41% -3.45% 9.61% 14.72%
Pre Tax Income Margin		 26.26% 23.39% 37.90% 26.82% 31.56% 26.43% 19.53% -94.59% -24.80% -26.97% 25.01%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 14.07 17.70 28.68 15.91 21.06 17.63 15.49 -166.19 -14.26 -11.25 11.36
NOPAT to Interest Expense		 11.20 13.57 10.65 13.55 16.77 9.07 -1.74 -112.51 -9.72 -5.83 6.25
EBIT Less CapEx to Interest Expense		 10.74 9.82 20.30 10.72 17.04 13.78 12.08 -177.19 -16.79 -12.53 9.89
NOPAT Less CapEx to Interest Expense		 7.87 5.69 2.27 8.36 12.75 5.21 -5.15 -123.51 -12.25 -7.11 4.79
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.66% 6.78% 0.44% 0.00% 0.00% 0.00% 0.00% 0.00% -0.09% -0.08% 0.12%
Augmented Payout Ratio		 60.48% 64.95% 37.46% 25.70% 32.73% 112.20% 0.00% 0.00% -0.09% -9.57% 87.41%

Quarterly Metrics And Ratios for Illumina

This table displays calculated financial ratios and metrics derived from Illumina's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 10/1/2023 12/31/2023 3/31/2024 6/30/2024 9/29/2024 12/29/2024 3/30/2025 6/29/2025 9/28/2025 12/28/2025 3/29/2026
DEI Shares Outstanding		 - - - - - - - - - - 152,900,000.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 152,900,000.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.88
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.36% 3.51% -1.01% -5.44% -3.49% -1.60% -3.25% -4.77% 0.37% 4.98% 4.80%
EBITDA Growth		 81.27% 15.00% -84.38% -8,976.19% 222.01% 635.29% 5,200.00% 120.87% -62.82% 68.50% -9.81%
EBIT Growth		 78.85% 3.61% -37.33% -2,163.22% 196.01% 226.25% 290.29% 116.30% -68.32% 95.05% -13.27%
NOPAT Growth		 79.38% -28.35% -73.44% -1,760.23% 237.47% 252.50% 251.92% 114.34% -78.67% 2.58% 51.12%
Net Income Growth		 80.24% -26.62% -4,300.00% -749.57% 193.50% 205.68% 203.97% 111.82% -78.72% 79.57% 2.29%
EPS Growth		 80.24% -26.62% -4,050.00% -743.24% 192.66% 205.41% 203.80% 111.94% -77.83% 83.76% 6.10%
Operating Cash Flow Growth		 367.31% 52.38% 670.00% -23.81% 127.34% 62.50% 211.69% 192.50% -10.13% -11.81% 20.42%
Free Cash Flow Firm Growth		 -56.14% -72.97% -67.65% -4.19% 791.71% 220.27% 155.73% -107.43% -94.16% -92.48% -106.77%
Invested Capital Growth		 -13.15% -15.31% -17.47% -63.01% -50.82% -49.16% -48.97% 15.62% -2.49% -2.01% 12.46%
Revenue Q/Q Growth		 -4.85% 0.27% -4.10% 3.35% -2.88% 2.22% -5.71% 1.73% 2.36% 6.92% -5.87%
EBITDA Q/Q Growth		 -3,280.95% 92.37% 109.80% -37,380.00% 143.72% -66.50% -2.93% 46.79% -22.11% 51.82% -48.04%
EBIT Q/Q Growth		 -791.95% 79.38% 35.63% -1,811.65% 137.84% -72.89% -2.97% 63.78% -26.48% 66.95% -56.85%
NOPAT Q/Q Growth		 -756.82% 78.38% 31.90% -1,374.77% 163.32% -76.02% -32.16% 39.22% -5.83% 15.32% -0.06%
Net Income Q/Q Growth		 -222.22% 76.66% 28.41% -1,477.78% 135.46% -73.62% -29.57% 79.39% -36.17% 122.67% -59.88%
EPS Q/Q Growth		 -222.22% 76.66% 28.83% -1,479.75% 135.42% -73.53% -29.91% 81.71% -34.23% 119.39% -59.53%
Operating Cash Flow Q/Q Growth		 32.38% 61.15% -65.63% 3.90% 295.00% 15.19% -34.07% -2.50% 21.37% 13.03% -9.97%
Free Cash Flow Firm Q/Q Growth		 -87.39% 123.26% 21.38% 180.30% 17.39% -19.81% -3.08% -108.15% 192.16% 3.30% -187.22%
Invested Capital Q/Q Growth		 -10.78% -4.25% -1.04% -56.25% 18.61% -1.01% -0.67% -0.87% 0.03% -0.52% 14.00%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 61.13% 59.98% 61.99% 64.84% 68.98% 65.94% 65.61% 65.63% 67.62% 65.49% 66.09%
EBITDA Margin		 -59.70% -4.55% 0.46% -167.63% 75.46% 24.73% 25.46% 36.73% 27.95% 39.69% 21.91%
Operating Margin		 -67.38% -14.53% -10.32% -147.21% 68.61% 15.76% 15.75% 20.21% 20.94% 17.43% 19.16%
EBIT Margin		 -69.35% -14.26% -9.57% -177.07% 68.98% 18.30% 18.83% 30.31% 21.77% 33.99% 15.58%
Profit (Net Income) Margin		 -67.38% -15.69% -11.71% -178.78% 65.28% 16.85% 12.58% 22.19% 13.84% 28.82% 12.28%
Tax Burden Percent		 96.42% 104.76% 115.60% 100.61% 97.92% 100.00% 71.98% 76.80% 68.18% 88.36% 85.35%
Interest Burden Percent		 100.77% 105.00% 105.83% 100.36% 96.64% 92.08% 92.86% 95.33% 93.22% 95.94% 92.35%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 2.08% 0.00% 28.02% 23.20% 31.82% 11.64% 14.65%
Return on Invested Capital (ROIC)		 -30.34% -6.80% -4.80% -92.11% 61.26% 14.78% 10.65% 23.04% 19.53% 21.50% 21.66%
ROIC Less NNEP Spread (ROIC-NNEP)		 -66.36% -17.72% -13.58% -179.87% 58.70% 16.78% 12.93% 29.85% 18.99% 49.15% 16.07%
Return on Net Nonoperating Assets (RNNOA)		 -6.60% -1.63% -1.20% -43.20% 11.74% 2.49% 1.81% 16.78% 7.43% 10.85% 5.06%
Return on Equity (ROE)		 -36.94% -8.42% -6.00% -135.31% 73.01% 17.27% 12.46% 39.82% 26.96% 32.35% 26.72%
Cash Return on Invested Capital (CROIC)		 3.66% 5.47% 7.60% 54.34% 51.12% 52.67% 56.39% 25.92% 22.04% 22.33% 8.93%
Operating Return on Assets (OROA)		 -28.97% -5.74% -3.94% -87.84% 37.53% 9.75% 10.07% 21.34% 15.32% 22.81% 10.75%
Return on Assets (ROA)		 -28.15% -6.32% -4.82% -88.69% 35.52% 8.98% 6.73% 15.63% 9.73% 19.33% 8.47%
Return on Common Equity (ROCE)		 -36.94% -8.42% -6.00% -135.31% 73.01% 17.27% 12.46% 39.82% 26.96% 32.35% 26.72%
Return on Equity Simple (ROE_SIMPLE)		 -19.06% 0.00% -22.50% -211.98% -74.59% 0.00% -40.79% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -528 -114 -78 -1,146 726 174 118 164 155 178 178
NOPAT Margin		 -47.17% -10.17% -7.22% -103.05% 67.18% 15.76% 11.34% 15.52% 14.28% 15.40% 16.35%
Net Nonoperating Expense Percent (NNEP)		 36.02% 10.93% 8.78% 87.76% 2.56% -1.99% -2.28% -6.81% 0.54% -27.65% 5.59%
Return On Investment Capital (ROIC_SIMPLE)		 - -1.58% - - - 3.99% 2.71% 3.87% 3.54% 3.79% 3.82%
Cost of Revenue to Revenue		 38.87% 40.02% 38.01% 35.16% 31.02% 34.06% 34.39% 34.37% 32.38% 34.51% 33.91%
SG&A Expenses to Revenue		 27.08% 41.80% 40.80% 13.22% 22.13% 24.18% 25.65% 22.10% 25.55% 26.57% 24.93%
R&D to Revenue		 28.15% 30.30% 31.51% 29.23% 23.43% 22.83% 24.21% 23.32% 21.13% 20.62% 22.00%
Operating Expenses to Revenue		 128.51% 74.51% 72.30% 212.05% 0.37% 50.18% 49.86% 45.42% 46.68% 48.06% 46.93%
Earnings before Interest and Taxes (EBIT)		 -776 -160 -103 -1,969 745 202 196 321 236 394 170
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -668 -51 5.00 -1,864 815 273 265 389 303 460 239
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.68 3.85 3.80 11.91 9.75 9.04 5.35 6.65 5.92 7.57 6.72
Price to Tangible Book Value (P/TBV)		 63.54 106.82 87.58 216.58 29.32 22.23 12.97 16.54 13.51 14.73 18.70
Price to Revenue (P/Rev)		 4.87 4.91 4.85 3.86 4.72 4.91 2.92 3.50 3.29 4.75 4.10
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 11.94 20.08 24.26 21.09
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8.38% 4.98% 4.12% 4.74%
Enterprise Value to Invested Capital (EV/IC)		 3.45 3.65 3.63 6.86 6.86 7.07 4.30 5.12 4.78 6.81 5.36
Enterprise Value to Revenue (EV/Rev)		 4.99 5.01 4.94 4.14 4.96 5.08 3.10 3.70 3.45 4.83 4.29
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9.09 12.04 14.80 13.53
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 10.82 15.50 18.29 16.79
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13.59 24.21 33.21 27.48
Enterprise Value to Operating Cash Flow (EV/OCF)		 55.58 47.17 40.71 35.29 31.24 26.55 13.43 13.73 13.20 19.44 16.69
Enterprise Value to Free Cash Flow (EV/FCFF)		 87.78 61.15 43.18 6.82 8.85 9.05 5.15 21.18 21.44 30.20 63.61
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.25 0.26 0.26 1.56 0.94 0.84 0.84 0.88 0.84 0.73 0.74
Long-Term Debt to Equity		 0.25 0.26 0.26 1.04 0.94 0.63 0.63 0.66 0.42 0.55 0.56
Financial Leverage		 0.10 0.09 0.09 0.24 0.20 0.15 0.14 0.56 0.39 0.22 0.31
Leverage Ratio		 1.69 1.81 1.76 2.23 2.01 2.02 2.00 3.29 2.71 2.54 2.53
Compound Leverage Factor		 1.71 1.90 1.86 2.24 1.94 1.86 1.86 3.14 2.52 2.44 2.33
Debt to Total Capital		 20.16% 20.58% 20.63% 60.87% 48.33% 45.60% 45.66% 46.86% 45.55% 42.21% 42.64%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 20.27% 0.00% 11.44% 11.45% 11.74% 22.82% 10.59% 10.70%
Long-Term Debt to Total Capital		 20.16% 20.58% 20.63% 40.60% 48.33% 34.16% 34.21% 35.11% 22.73% 31.62% 31.94%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 79.84% 79.42% 79.37% 39.13% 51.67% 54.40% 54.34% 53.14% 54.45% 57.79% 57.36%
Debt to EBITDA		 -2.21 -2.24 -2.15 -0.87 -1.82 -2.58 -3.89 1.14 1.62 1.40 1.43
Net Debt to EBITDA		 -0.82 -0.65 -0.55 -0.48 -0.96 -1.00 -1.47 0.48 0.58 0.25 0.60
Long-Term Debt to EBITDA		 -2.21 -2.24 -2.15 -0.58 -1.82 -1.93 -2.92 0.86 0.81 1.05 1.07
Debt to NOPAT		 -2.06 -1.99 -1.91 -1.20 -2.43 -3.41 -5.09 1.71 3.26 3.15 2.90
Net Debt to NOPAT		 -0.77 -0.58 -0.49 -0.66 -1.28 -1.32 -1.93 0.72 1.17 0.56 1.22
Long-Term Debt to NOPAT		 -2.06 -1.99 -1.91 -0.80 -2.43 -2.56 -3.82 1.28 1.63 2.36 2.18
Altman Z-Score		 3.42 3.55 3.56 1.43 4.28 4.03 2.79 3.26 3.05 4.23 3.69
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.69 1.66 1.75 1.11 2.43 1.78 1.86 1.81 1.43 2.08 1.75
Quick Ratio		 1.10 1.14 1.18 0.74 1.68 1.26 1.34 1.27 1.02 1.57 1.21
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 449 1,003 1,217 3,412 4,006 3,212 3,113 -254 234 241 -211
Operating Cash Flow to CapEx		 308.89% 439.22% 213.89% 258.06% 987.50% 1,255.17% 750.00% 780.00% 916.13% 583.64% 760.53%
Free Cash Flow to Firm to Interest Expense		 23.64 52.78 67.63 170.61 111.27 123.54 124.52 -10.15 9.35 9.29 -8.78
Operating Cash Flow to Interest Expense		 7.32 11.79 4.28 4.00 8.78 14.00 9.60 9.36 11.36 12.35 12.04
Operating Cash Flow Less CapEx to Interest Expense		 4.95 9.11 2.28 2.45 7.89 12.88 8.32 8.16 10.12 10.23 10.46
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.42 0.40 0.41 0.50 0.54 0.53 0.53 0.70 0.70 0.67 0.69
Accounts Receivable Turnover		 6.78 6.41 6.91 6.41 6.32 5.95 6.50 6.38 6.01 5.47 6.11
Inventory Turnover		 2.93 3.05 2.97 2.86 2.66 2.66 2.60 2.52 2.49 2.65 2.59
Fixed Asset Turnover		 4.24 4.29 4.39 4.59 4.69 4.80 4.97 5.28 5.43 5.52 5.72
Accounts Payable Turnover		 6.61 6.54 7.84 7.60 7.35 6.49 7.16 7.18 7.09 6.39 6.99
Days Sales Outstanding (DSO)		 53.86 56.93 52.80 56.95 57.74 61.32 56.13 57.17 60.78 66.77 59.70
Days Inventory Outstanding (DIO)		 124.42 119.77 122.93 127.66 136.99 136.97 140.13 144.68 146.60 137.65 141.08
Days Payable Outstanding (DPO)		 55.22 55.79 46.54 48.01 49.66 56.28 51.00 50.81 51.51 57.12 52.23
Cash Conversion Cycle (CCC)		 123.07 120.91 129.19 136.60 145.08 142.00 145.26 151.03 155.87 147.31 148.55
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 6,454 6,180 6,116 2,676 3,174 3,142 3,121 3,094 3,095 3,079 3,510
Invested Capital Turnover		 0.64 0.67 0.66 0.89 0.91 0.94 0.94 1.48 1.37 1.40 1.33
Increase / (Decrease) in Invested Capital		 -977 -1,117 -1,295 -4,558 -3,280 -3,038 -2,995 418 -79 -63 389
Enterprise Value (EV)		 22,287 22,546 22,188 18,350 21,777 22,223 13,425 15,841 14,807 20,976 18,826
Market Capitalization		 21,731 22,111 21,806 17,110 20,728 21,454 12,672 15,005 14,093 20,620 17,992
Book Value per Share		 $37.26 $36.18 $36.06 $9.01 $13.34 $14.96 $14.95 $14.26 $15.49 $17.82 $17.50
Tangible Book Value per Share		 $2.16 $1.30 $1.57 $0.50 $4.44 $6.08 $6.17 $5.73 $6.79 $9.16 $6.29
Total Capital		 7,387 7,234 7,224 3,670 4,113 4,362 4,358 4,249 4,373 4,712 4,665
Total Debt		 1,489 1,489 1,490 2,234 1,988 1,989 1,990 1,991 1,992 1,989 1,989
Total Long-Term Debt		 1,489 1,489 1,490 1,490 1,988 1,490 1,491 1,492 994 1,490 1,490
Net Debt		 556 435 382 1,240 1,049 769 753 836 714 356 834
Capital Expenditures (CapEx)		 45 51 36 31 32 29 32 30 31 55 38
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 91 -15 1.00 1.00 459 478 495 524 554 570 516
Debt-free Net Working Capital (DFNWC)		 1,024 1,039 1,109 995 1,398 1,698 1,732 1,679 1,832 2,203 1,671
Net Working Capital (NWC)		 1,024 1,039 1,109 251 1,398 1,199 1,233 1,180 834 1,704 1,172
Net Nonoperating Expense (NNE)		 226 62 48 842 21 -12 -13 -71 4.77 -156 44
Net Nonoperating Obligations (NNO)		 556 435 382 1,240 1,049 769 753 836 714 356 834
Total Depreciation and Amortization (D&A)		 108 109 108 105 70 71 69 68 67 66 69
Debt-free, Cash-free Net Working Capital to Revenue		 2.04% -0.33% 0.02% 0.02% 10.46% 10.93% 11.41% 12.23% 12.92% 13.12% 11.75%
Debt-free Net Working Capital to Revenue		 22.93% 23.07% 24.68% 22.47% 31.85% 38.84% 39.94% 39.19% 42.72% 50.73% 38.04%
Net Working Capital to Revenue		 22.93% 23.07% 24.68% 5.67% 31.85% 27.42% 28.43% 27.54% 19.45% 39.24% 26.68%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($4.64) ($1.08) ($0.77) ($12.48) $4.43 $1.17 $0.83 $1.49 $0.98 $2.15 $0.88
Adjusted Weighted Average Basic Shares Outstanding		 162.58M 162.58M 163.61M 159M 159M 159M 159M 157M 153M 155M 153M
Adjusted Diluted Earnings per Share		 ($4.64) ($1.08) ($0.77) ($12.48) $4.42 $1.17 $0.82 $1.49 $0.98 $2.15 $0.87
Adjusted Weighted Average Diluted Shares Outstanding		 162.58M 162.58M 163.61M 159M 160M 159M 159M 157M 154M 156M 154M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($1.08) $0.00 $0.00 $0.00 $1.17 $0.00 $0.00 $0.00 $2.15 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 163.40M 163.51M 163.92M 159.30M 158.60M 158.40M 158.30M 153.70M 152.80M 152.90M 151.30M
Normalized Net Operating Profit after Tax (NOPAT)		 46 -114 -78 174 248 122 118 164 155 178 178
Normalized NOPAT Margin		 4.13% -10.17% -7.22% 15.67% 22.94% 11.03% 11.34% 15.52% 14.28% 15.40% 16.35%
Pre Tax Income Margin		 -69.88% -14.97% -10.13% -177.70% 66.67% 16.85% 17.48% 28.90% 20.30% 32.61% 14.39%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -40.84 -8.42 -5.72 -98.45 20.69 7.77 7.84 12.84 9.44 15.15 7.08
NOPAT to Interest Expense		 -27.78 -6.01 -4.32 -57.30 20.15 6.69 4.72 6.57 6.19 6.86 7.43
EBIT Less CapEx to Interest Expense		 -43.21 -11.11 -7.72 -100.00 19.81 6.65 6.56 11.64 8.20 13.04 5.50
NOPAT Less CapEx to Interest Expense		 -30.15 -8.69 -6.32 -58.85 19.27 5.58 3.44 5.37 4.95 4.75 5.85
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% -0.09% 0.00% 0.00% 0.00% -0.08% 0.00% 0.08% 0.14% 0.12% 0.00%
Augmented Payout Ratio		 0.00% -0.09% 0.00% 0.00% 0.00% -9.57% -32.71% 54.65% 102.28% 87.41% 91.91%

Financials Breakdown Chart

Key Financial Trends

Illumina, Inc. (ILMN) delivered a solid close to 2025 with revenue growth, stable margins, and positive cash flow, alongside improving leverage. Below are the key trends observed in Illumina’s quarterly statements over the last four years, focused on potential implications for retail investors.

  • Q4 2025 revenue rose to 1.159 billion, up about 5% from Q4 2024's 1.104 billion, signaling ongoing top-line momentum.
  • Q4 2025 net income attributable to common shareholders was 334 million, with basic/diluted earnings per share of 2.15, higher than Q4 2024’s 186 million and 1.17 per share.
  • Gross profit in Q4 2025 reached 759 million on 1.159 billion in revenue, yielding a healthy gross margin around 65%, consistent with Illumina’s mid-60s margin in recent years.
  • Long-term debt declined to about 994 million by 2025 Q3 and remained near that level in Q4 2025, a meaningful reduction from roughly 1.49 billion in mid-2024, indicating improved leverage.
  • Illumina generated positive operating cash flow across 2025, with net cash from continuing operating activities of 321 million in Q4, 284 million in Q3, 234 million in Q2, and 240 million in Q1.
  • Capital expenditures were modest in 2025, with purchases of property, plant & equipment generally in the 30–55 million range per quarter, supporting ongoing operations without stressing liquidity.
  • Gross margins have remained in the mid-60s across 2024–2025, indicating a stable profitability base even as quarterly revenue fluctuates.
  • R&D spending stayed elevated in 2025 (roughly 229–252 million per quarter), signaling continued investment in product development and future growth potential.
  • Quarterly operating results show some variability, with pretax and after-tax results influenced by non-core items such as Other Income/Expense and changes in tax expense.
  • Earnings can be volatile due to swings in Other Income/Expense; for example, Q4 2025 included a sizable 176 million boost from Other Income/Expense, which may not recur each quarter.
  • Cash flow from financing activities showed negative net outflows in several 2025 quarters (e.g., about 63 million in Q4, 371 million in Q3/Q2 periods, and 195 million in Q1), reflecting ongoing external funding activity despite solid operating cash flow.
05/26/26 10:15 AM ETAI Generated. May Contain Errors.

Illumina Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Illumina's financial year ends in December. Their financial year 2025 ended on December 28, 2025.

Illumina's net income appears to be on an upward trend, with a most recent value of $850 million in 2025, rising from $458 million in 2015. The previous period was -$1.22 billion in 2024. See where experts think Illumina is headed by visiting Illumina's forecast page.

Illumina's total operating income in 2025 was $807 million, based on the following breakdown:
  • Total Gross Profit: $2.87 billion
  • Total Operating Expenses: $2.06 billion

Over the last 10 years, Illumina's total revenue changed from $2.22 billion in 2015 to $4.34 billion in 2025, a change of 95.6%.

Illumina's total liabilities were at $3.92 billion at the end of 2025, a 0.2% decrease from 2024, and a 117.0% increase since 2015.

In the past 10 years, Illumina's cash and equivalents has ranged from $735 million in 2016 to $2.04 billion in 2019, and is currently $1.42 billion as of their latest financial filing in 2025.

Over the last 10 years, Illumina's book value per share changed from 12.63 in 2015 to 17.82 in 2025, a change of 41.1%.


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Financial statements for NASDAQ:ILMN last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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