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Illumina ILMN Free cash flow margin

Free cash flow margin at other companies

Thermo Fisher Scientific logo
Thermo Fisher ScientificTMO
15.7%-2.1pp
Guardant Health logo
Guardant HealthGH
-22%-6.7pp
Natera, Inc. logo
Natera, Inc.NTRA
4.2%-0.5pp
Agilent Technologies logo
Agilent TechnologiesA
15%-2.9pp
Danaher logo
DanaherDHR
21.4%+0.8pp
Abbott logo
AbbottABT
16.3%+0.6pp

Other financials

Income statement

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Revenue$1.1B+4.8%
Gross profit$721.0M+5.6%
Operating income$209.0M+27.4%
Net income$134.0M+2.3%
EPS (diluted)$0.87+6.1%

Balance sheet

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Cash & equivalents$1.1B-2.2%
Total debt$2.0B-3.0%
Total equity$2.7B+13.0%
Total assets$6.6B+6.1%

Cash flow

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Operating cash flow$289.0M+20.4%
CapEx$38.0M+18.8%
Free cash flow$251.0M+20.7%

Valuation

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Market cap$24.07B+50.0%
Enterprise value$25.03B+46.0%
P/E28.2×
P/S5.5×+1.8×

Profitability

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Gross margin66.2%-0.1pp
Operating margin19.4%
Net margin19.4%+12.7pp

Returns & leverage

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Return on equity33.8%+23.9pp
Debt / equity0.8×-0.1×
Current ratio1.7×-0.1×

Where this comes from

Calculated from Illumina’s reported figures.

Based on trailing twelve months.

The official record: Illumina’s 10-Q, filed May 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Illumina's free cash flow margin?
Illumina (ILMN) reported free cash flow margin of 22.2% in Q1 2026.
How has Illumina's free cash flow margin changed year-over-year?
Illumina's free cash flow margin increased by 9.8% year-over-year, from 20.2% to 22.2%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.