Illumina, Inc. (ILMN)

NASDAQ: ILMN · USD

$289

+9.28 (+3.3%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-22

Our latest published analysis: ILMN rated Sell

Illumina, Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$120 / share

Potential value

$147 / share

Upside to FV

-53.9%

from $289

Moat

9/10

Wide

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$39.1B
Revenue (ttm)	4.5B
Net income (ttm)	824M
EPS (ttm)	$5.37
Shares out	151M
P/E (trailing)	53.8x
P/E (forward)	40.3x
Volume	2,029,934
Beta	1.42

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 4.5B
Net income (ttm): 824M
EPS (ttm): $5.37
P/E (trailing): 53.8x
P/E (forward): 40.3x
Market cap: $39.1B

Item	P1	P2	P3	P4	P5	Trend
Period	2022-01-02	2023-01-01	2023-12-31	2024-12-29	2025-12-28	Trend
Revenue	$4.53B	$4.58B	$4.50B	$4.37B	$4.34B	-1.0%
Gross profit	$3.15B	$2.97B	$2.74B	$2.86B	$2.87B	-2.3%
Operating income	$-123.0M	$-4.18B	$-1.07B	$-833.0M	$807.0M	—
Net income	$762.0M	$-4.40B	$-1.16B	$-1.22B	$850.0M	+2.8%
EPS (diluted)	$4.90	$-28.00	$-7.34	$-7.69	$5.45	+2.7%
EBITDA	$128.0M	$-3.79B	$-1.07B	$-725.0M	$1.46B	+83.7%
R&D	$1.19B	$1.32B	$1.35B	$1.17B	$967.0M	-5.0%
SG&A	$2.09B	$1.30B	$1.61B	$1.09B	$1.09B	-15.1%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	売り
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	売り
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	強い買い
ABBV	AbbVie Inc.	505.6B	80.8x	7.9x	17.7%	+3.7%	+29.1%	売り
ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	縮小
ALGN	Align Technology Inc.	10.9B	26.6x	2.6x	17.2%	+3.6%	+11.6%	縮小

Base and Bull scenarios

Base55%

Price target

$119.53

-53.9% from spot

The modal base path reflects management's FY2026 guidance for reported revenue and operating margin. Clinical consumables expansion at mid-teens offsets mid-to-high single-digit research declines. This trajectory generates Fair value of $119.53, implying -53.9% return relative to $259.19.

Revenue growth compounds at 6.5% in FY2026 and 7.5% in FY2027, moderating to 5.0% by FY2030
Operating margins align with annual management guidance in FY2026 and expand moderately long term
Terminal multiple of 24.0x forward earnings and 10.26% cost of equity

Bull20%

Price target

$146.73

-43.4% from spot

In the Bull case, clinical sequencing expands rapidly across oncology and rare disease diagnostics, driving mid-teens clinical consumables growth and enabling FY2027 revenue to reach high single digits. Operating margins expand via high consumable pull-through, supporting Potential value of $146.73. Notably, even this optimistic outcome remains well below $259.19.

Revenue growth accelerates above 8.0% annually supported by rapid clinical diagnostic adoption
Operating margins expand through operating leverage and high consumable pull-through
Terminal multiple holds at 28.0x forward earnings

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($119.53). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.5%	3.0%	3.5%	4.0%
9.3%	$122	$124	$127	$129	$132
9.8%	$119	$121	$123	$125	$127
10.3%	$116	$118	$120	$121	$124
10.8%	$114	$115	$117	$118	$120
11.3%	$111	$113	$114	$115	$117

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E40.3

P25 n/aP50 n/aP75 n/a

Trailing P/E52.8

P25 n/aP50 n/aP75 n/a

ROE32.3

P25 n/aP50 n/aP75 n/a

ROIC17.4

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All ILMN indicators

Market & fundamental data

Available fields

272

Groups with data

Currency

USD

Showing 272 of 272 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001110803
Company name	Illumina, Inc.
Country	United States
Country code	US
CUSIP number	452327109
Earnings date	2026-10-29
Earnings time	amc
Employees	10,080
Employees change	-290
Employees growth	-2.8%
Enterprise value	$45B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-06-28
First seen	2026-05-09
Fiscal year end	December
Founded	1998
In index	SP500
Industry	Diagnostics & Research
IPO date	2000-07-28
Is primary listing	Yes
Is SPAC	No
ISIN number	US4523271090
Last 10-K release date	2026-02-12
Last earnings date	2026-07-30
Last refreshed	2026-10-28
Last stock split date	2008-09-23
Last stock split type	Forward
Market cap	$43.6B
Market cap category	Large-Cap
Next earnings date	2026-10-29
Options	Yes
Price	$288.76
Price currency	USD
Sector	Healthcare
SIC code	3826
Stock price date	2026-10-28
Symbol	ILMN
U.S. state	California
Website	https://www.illumina.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	56.07x
Average P/E ratio (10Y)	53.45x
Earnings yield	1.86%
EV/Earnings	54.16x
EV/EBIT	50.54x
EV/EBITDA	38.64x
EV/FCF	47.93x
EV/Sales	9.93x
FCF / EV yield	2.09%
FCF yield	2.15%
Forward EV/Sales	9.42x
Forward P/E	50.7x
Forward P/S	9.13x
Graham number	47.6571
Graham upside	-83.37%
Industry forward P/E	30.87x
Industry P/E	50.24x
Lynch fair value	$26.85
Lynch upside	-90.63%
P/(FCF - SBC) ratio	65.06x
P/(OCF - SBC) ratio	52.19x
P/B ratio	14.87x
P/E ratio	53.77x
P/FCF ratio	46.47x
P/OCF ratio	39.51x
P/S ratio	9.63x
PEG ratio	4.54x
Price / tangible book value	37.82x
Price/EBITDA ratio	37.46x
Sector forward P/E	23.56x
Sector P/E	50.08x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	19.65%
EBITDA margin	25.7%
Effective tax rate	18.82%
FCF margin	20.72%
Gross margin	67.94%
Operating margin	19.65%
Pretax margin	22.59%
Profit margin	18.34%
Profit per employee	$81,746
Profitable quarters	8
Profitable years	1
Revenue per employee	$445,833
ROA	8.67%
ROA (5Y)	2.88%
ROCE	17.41%
ROE	32.34%
ROE (5Y)	-11.3%
ROIC	17.35%
ROIC (5Y)	6.39%
SBC / revenue	5.92%
Tax / revenue	4.25%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-32.1%
EPS growth (Q)	-9.4%
EPS growth (QoQ)	55.17%
EPS growth 10Y	6.39%
EPS growth 5Y	0.56%
EPS growth years	1
FCF growth	-9.7%
FCF growth (Q)	-21.08%
FCF growth (QoQ)	-35.86%
FCF growth 5Y	0.72%
Gross profit growth	3.74%
Gross profit growth (Q)	7.07%
Gross profit growth 3Y	0.95%
Gross profit growth 5Y	2.12%
Net income growth	-34.45%
Net income growth (Q)	-11.92%
Net income growth (QoQ)	54.48%
Net income growth 5Y	1.39%
Net income growth years	1
OCF growth	-5.11%
OCF growth (Q)	-14.1%
OCF growth (QoQ)	-30.45%
OCF growth 10Y	3.69%
OCF growth 3Y	73.41%
OCF growth 5Y	0.02%
Operating income growth	0%
Operating income growth (Q)	0%
Operating income growth 5Y	5.49%
Revenue growth	4.9%
Revenue growth (Q)	9.44%
Revenue growth (QoQ)	6.23%
Revenue growth 10Y	6.86%
Revenue growth 3Y	0.25%
Revenue growth 5Y	2.53%
Revenue growth quarters	4
Revenue growth years	0

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-164M
Depreciation and amortization	$272M
EBIT	$883M
EBITDA	$1.2B
EPS	$5.37
FCF per share	$6.17
Financing cash flow	$-558M
Free cash flow	$931M
Free cash flow minus SBC	$665M
Gross profit	$3.1B
Income taxes	$191M
Investing cash flow	$-431M
Net borrowing	$-5M
Net cash flow	$106M
Net income	$824M
Operating cash flow minus SBC	$829M
Operating income	$883M
Revenue	$4.5B
Stock-based compensation	$266M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	4.29
Book value per share	$18.79
Debt / EBITDA	2.05
Debt / equity	0.89
Debt / FCF	2.71
Goodwill	$1.3B
Interest coverage	9.01
Long-term assets	$3.8B
Long-term liabilities	$2.2B
Net cash (debt)	$-1.4B
Net cash / market cap	-3.14%
Net debt / EBITDA	1.18
Net debt / equity	0.48
Net debt / FCF	1.46
Piotroski F-Score	6
Property, plant and equipment	$1.1B
Shareholders' equity	$2.8B
Tangible book value	$1.1B
Tangible book value per share	$7.58
Total assets	$6.7B
Total cash	$1.2B
Total debt	$2.5B
Total liabilities	$3.8B
WACC	11.55%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.71
Current assets	$2.8B
Current liabilities	$1.6B
Current ratio	1.8
Inventory turnover	2.39
Net working capital	$670M
Quick ratio	1.25
Working capital	$1.3B
Working capital turnover	3.69

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	2.84%
Dividend yield	0%
Shareholder yield	2.84%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	107.31%
10Y return CAGR	7.87%
10Y total return	113.32%
150-day SMA	$189.79
15Y price change	816.99%
15Y return CAGR	16.14%
15Y total return	843.57%
1D price change	3.32%
1M price change	6.95%
1M total return	6.95%
1W price change	7.77%
1W total return	7.77%
1Y price change	187.75%
1Y return CAGR	187.96%
1Y total return	187.75%
20-day SMA	$272.91
200-day SMA	$174.93
20Y price change	1,203.07%
20Y return CAGR	13.86%
20Y total return	1,240.84%
3M price change	52.4%
3M total return	52.4%
3Y price change	164.38%
3Y return CAGR	39.59%
3Y total return	172.05%
50-day SMA	$247.14
50-day SMA vs 200-day SMA	50over200
52-week high	$309.35
52-week high date	2026-10-06
52-week low	$94.00
52-week low date	2025-10-30
5Y price change	-29.91%
5Y return CAGR	-6.33%
5Y total return	-27.88%
6M price change	124.68%
6M total return	124.68%
All-time high	$555.77
All-time high date	2021-02-12
All-time low	$0.86
All-time low date	2003-03-13
Average true range (ATR)	$14.06
Average volume	2.3M
Beta (1Y)	0.8
Beta (2Y)	1.12
Beta (5Y)	1.42
Change from 52-week high	-6.65%
Change from 52-week low	207.19%
Change from all-time high	-48.04%
Change from all-time low	33,673.1%
Change from open	3.21%
Day's gap	0.11%
Dollar volume	$586.2M
High price	$293.33
Low price	$278.67
Monthly RSI	78.12
Open price	$279.77
Position in 52-week range	68.83%
Premarket change	0.64%
Premarket close	$279.47
Premarket price	$281.25
Premarket volume	2.9K
Previous close	$279.47
Price vs 150-day SMA	52.15%
Price vs 20-day SMA	5.81%
Price vs 200-day SMA	65.07%
Price vs 50-day SMA	16.84%
Relative volume	0.87
RSI	63.7
Sharpe ratio	2.29
Sharpe ratio (3Y)	0.8
Sharpe ratio (5Y)	0.01
Sortino ratio	4.48
Sortino ratio (3Y)	1.42
Sortino ratio (5Y)	0.14
Volume	2M
Weekly RSI	76.02
YTD price change	120.16%
YTD total return	120.16%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	150.5M
Float percentage	99.67%
Shares change (QoQ)	-0.65%
Shares change (YoY)	-2.84%
Shares held by insiders	0.22%
Shares held by institutions	112.45%
Shares outstanding	151M
Short % of float	5.24%
Short % of shares	5.22%
Short ratio	2.4 days

Deeper analysis on ILMN

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this ILMN report

What is the latest published ILMN stock rating?

Illumina, Inc. is shown with Sell in the latest published report, analyzed 2026-10-22. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full ILMN analysis?

The full latest published report, analyzed 2026-10-22, lives at /stocks/ILMN/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for ILMN?

The latest published report analyzed 2026-10-22 gives ILMN a fair value of USD 120 and a potential value of USD 147. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the ILMN page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-22). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellILMN · Fair value $120-53.9%

Read full analysis →

Illumina, Inc. (ILMN)

Our latest published analysis: ILMN rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · ILMN

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All ILMN indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on ILMN

Frequently asked questions

レーティング履歴

Category	Score	Reading
Valuation	1.5
Management	7.5
Balance Sheet	6.0
Profitability	7.5
Revenue Growth	6.0
Risk Assessment	6.5
Competitive Moat	9.0
Earnings Quality	7.5
Capital Efficiency	6.5