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Illumina ILMN Gross margin

Gross margin at other companies

Guardant Health logo
Guardant HealthGH
64.9%+3.6pp
Agilent Technologies logo
Agilent TechnologiesA
52.7%-0.6pp
Danaher logo
DanaherDHR
58.9%-0.8pp
Abbott logo
AbbottABT
56.3%+0.4pp
Incyte logo
IncyteINCY
92.5%-0.2pp
Intuitive Surgical logo
Intuitive SurgicalISRG
66.3%-0.8pp

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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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 gross margin?
Illumina (ILMN) reported gross margin of 66.2% in Q1 2026.
How has Illumina's gross margin changed year-over-year?
Illumina's gross margin decreased by 0.2% year-over-year, from 66.3% to 66.2%.
What is the long-term trend for Illumina's gross margin?
Over 4 years (2021 to 2025), Illumina's gross margin has grown at a -0.9% compound annual growth rate (CAGR), from 275.2% to 265.2%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.