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Illumina ILMN Core Illumina — R&D

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Other financials

Income statement

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Revenue$1.2B+9.4%
Gross profit$770.0M+10.8%
Operating income$245.0M+14.5%
Net income$207.0M-11.9%
EPS (diluted)$1.35-9.4%

Balance sheet

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Cash & equivalents$1.0B+11.3%
Total debt$1.9B-7.3%
Total equity$2.8B+25.7%
Total assets$6.7B+9.2%

Cash flow

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Operating cash flow$201.0M-14.1%
CapEx$39.0M+30.0%
Free cash flow$162.0M-20.6%

Valuation

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Market cap$29.25B+95.7%
Enterprise value$30.16B+87.2%
P/E35.5×+23.6×
P/S6.5×+3.0×

Profitability

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Gross margin66.4%-0.2pp
Operating margin19.6%
Net margin18.4%-11.0pp
FCF margin20.7%-3.3pp

Returns & leverage

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Return on equity32.4%-35.7pp
Debt / equity0.7×-0.2×
Current ratio1.8×0.0×

Where this comes from

Reported directly by Illumina in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The source filing: Illumina’s 10-Q, filed May 4, 2026.

Filed
May 3, 2026, 8:00 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001110803-26-000092
In millionsQ1 2026Q1 2025
Revenue$1,091$1,041
Less:
Cost of revenue370358
Research and development240252
Selling and marketing158165
General and administrative114102
Income from operations209164
Other (expense) income, net(52)18

Cover / Front Matter

FAQ

What is Illumina's core illumina — R&D?
Illumina (ILMN) reported core illumina — R&D of $240M in Q1 2026.
How has Illumina's core illumina — R&D changed year-over-year?
Illumina's core illumina — R&D decreased by 4.8% year-over-year, from $252M to $240M.
What is the long-term trend for Illumina's core illumina — R&D?
Over 3 years (2022 to 2025), Illumina's core illumina — R&D has grown at a -1.2% compound annual growth rate (CAGR), from $1B to $967M.
What does core illumina — R&D mean?
Captures the investment in innovation, including the development of new sequencing platforms, software enhancements, and clinical applications. This reflects the company's commitment to maintaining its technological lead in the genomics market.

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