Illumina ILMN Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 66.2%+0.1pp | 66.1%-0.1pp | 66.2%-0.3pp | 66.6%+0.2pp | 66.3%+0.9pp | |
| Operating margin | 19.4%+0.8pp | 18.6%— | —— | —— | —— | |
| Net margin | 19.4%-0.2pp | 19.6%+3.2pp | 16.4%-13.0pp | 29.3%+51.6pp | -22.3%+5.7pp | |
| EBITDA margin | 25.5%+0.7pp | 24.8%— | —— | —— | —— | |
| Free cash flow margin | 22.2%+0.7pp | 21.4%-1.9pp | 23.3%-0.7pp | 24.1%+3.9pp | 20.2%+4.0pp | |
| Returns | ||||||
| Return on equity | 33.8%+0.5pp | 33.4%+2.2pp | 31.2%-36.9pp | 68.1%+91.9pp | -23.8%+6.3pp | |
| Return on assets | 13.4%+0.3pp | 13.1%+1.6pp | 11.5%-9.1pp | 20.7%+32.6pp | -11.9%+3.0pp | |
| Return on invested capital | 19.6%+0.8pp | 18.8%— | —— | —— | —— | |
| Efficiency | ||||||
| Asset turnover | 0.7×0.0× | 0.7×0.0× | 0.7×0.0× | 0.7×+0.2× | 0.5×0.0× | |
| Inventory turnover | 4.5×— | —— | 2.1×0.0× | 2.1×-0.1× | 2.2×0.0× | |
| Liquidity | ||||||
| Current ratio | 1.7×-0.3× | 2.1×+0.6× | 1.4×-0.4× | 1.8×0.0× | 1.9×+0.1× | |
| Quick ratio | 1.7×-0.3× | 2.1×+1.0× | 1.1×-0.3× | 1.3×-0.1× | 1.4×+0.1× | |
| Cash ratio | 0.7×-0.2× | 0.9×+0.4× | 0.5×-0.1× | 0.6×-0.1× | 0.8×0.0× | |
| Leverage | ||||||
| Debt-to-equity | 0.8×0.0× | 0.8×+0.1× | 0.7×-0.3× | 0.9×0.0× | 0.9×0.0× | |
| Debt-to-assets | 0.3×0.0× | 0.3×+0.1× | 0.3×-0.1× | 0.3×0.0× | 0.3×0.0× | |
| Net debt / EBITDA | 0.9×+0.3× | 0.6×— | —— | —— | —— | |
| Interest coverage | 8.5×+0.5× | 8×— | —— | —— | —— | |
| Per Share | ||||||
| Book value per share | $17.38-0.4% | $17.46+12.9% | $15.46+7.5% | $14.38-3.4% | $14.89-0.2% | |
| Valuation | ||||||
| Market capitalization | $18.85B-6.0% | $20.04B+37.3% | $14.6B+0.8% | $14.49B+15.3% | $12.57B-40.7% | |
| Enterprise value | $19.8B-4.2% | $20.68B+36.7% | $15.12B-3.4% | $15.65B+15.4% | $13.56B-38.9% | |
| Price / earnings | 22.1×-1.5× | 23.6×+2.8× | 20.8×+9.3× | 11.5×— | —— | |
| Price / sales | 4.3×-0.3× | 4.6×+1.2× | 3.4×0.0× | 3.4×+0.5× | 2.9×-1.9× | |
| Price / book | 7×-0.3× | 7.4×+1.2× | 6.1×-0.3× | 6.4×+1.1× | 5.3×-3.6× | |
| EV / EBITDA | 17.7×-1.6× | 19.2×— | —— | —— | —— | |
| EV / sales | 4.5×-0.3× | 4.8×+1.2× | 3.5×-0.1× | 3.7×+0.5× | 3.1×-1.9× | |
| Free cash flow yield | 5.2%+0.5pp | 4.6%-2.2pp | 6.9%-0.3pp | 7.1%+0.1pp | 7%+3.6pp | |
| Earnings yield | 4.5%+0.3pp | 4.2%-0.6pp | 4.8%-3.9pp | 8.7%+16.4pp | -7.7%-1.9pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are Illumina's profit margins?
- Illumina (ILMN) runs a 66.2% gross margin and a 19.4% operating margin, with a 19.4% net margin.
- Where do Illumina's ratios come from?
- Every ratio is computed from Illumina's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
