Illumina ILMN Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 66.2%-0.1pp | 66.1%+0.6pp | 66.2%+2.3pp | 66.6%+4.5pp | 66.3%+5.0pp | |
| Operating margin | 19.4%— | 18.6%— | —— | —— | —— | |
| Net margin | 19.4%+41.7pp | 19.6%+47.5pp | 16.4%+52.5pp | 29.3%+98.1pp | -22.3%+6.4pp | |
| EBITDA margin | 25.5%— | 24.8%— | —— | —— | —— | |
| Free cash flow margin | 22.2%+2.0pp | 21.4%+5.2pp | 23.3%+10.9pp | 24.1%+16.0pp | 20.2%+12.1pp | |
| Returns | ||||||
| Return on equity | 33.8%+57.7pp | 33.4%+63.5pp | 31.2%+70.7pp | 68.1%+144pp | -23.8%-3.1pp | |
| Return on assets | 13.4%+25.3pp | 13.1%+28.0pp | 11.5%+31.2pp | 20.7%+54.8pp | -11.9%-0.1pp | |
| Return on invested capital | 19.6%— | 18.8%— | —— | —— | —— | |
| Efficiency | ||||||
| Asset turnover | 0.7×+0.2× | 0.7×+0.1× | 0.7×+0.2× | 0.7×+0.2× | 0.5×+0.1× | |
| Inventory turnover | 4.5×+2.3× | —— | 2.1×-0.2× | 2.1×-0.3× | 2.2×-0.3× | |
| Liquidity | ||||||
| Current ratio | 1.7×-0.1× | 2.1×+0.3× | 1.4×-1.0× | 1.8×+0.7× | 1.9×+0.1× | |
| Quick ratio | 1.7×+0.3× | 2.1×+0.7× | 1.1×-0.7× | 1.3×+0.5× | 1.4×+0.1× | |
| Cash ratio | 0.7×-0.1× | 0.9×+0.2× | 0.5×-0.4× | 0.6×+0.2× | 0.8×0.0× | |
| Leverage | ||||||
| Debt-to-equity | 0.8×-0.1× | 0.8×-0.1× | 0.7×-0.6× | 0.9×-0.6× | 0.9×+0.5× | |
| Debt-to-assets | 0.3×0.0× | 0.3×0.0× | 0.3×-0.2× | 0.3×0.0× | 0.3×+0.1× | |
| Net debt / EBITDA | 0.9×— | 0.6×— | —— | —— | —— | |
| Interest coverage | 8.5×— | 8×— | —— | —— | —— | |
| Per Share | ||||||
| Book value per share | $17.38+16.7% | $17.46+17.0% | $15.46+16.4% | $14.38+59.2% | $14.89-58.7% | |
| Valuation | ||||||
| Market capitalization | $18.85B+50.0% | $20.04B-5.4% | $14.6B-29.6% | $14.49B-12.7% | $12.57B-42.4% | |
| Enterprise value | $19.8B+46.0% | $20.68B-6.8% | $15.12B-32.9% | $15.65B-12.3% | $13.56B-41.0% | |
| Price / earnings | 22.1×— | 23.6×— | 20.8×— | 11.5×— | —— | |
| Price / sales | 4.3×+1.4× | 4.6×-0.2× | 3.4×-1.3× | 3.4×-0.4× | 2.9×-2.0× | |
| Price / book | 7×+1.7× | 7.4×-1.6× | 6.1×-3.6× | 6.4×-5.1× | 5.3×+1.5× | |
| EV / EBITDA | 17.7×— | 19.2×— | —— | —— | —— | |
| EV / sales | 4.5×+1.4× | 4.8×-0.3× | 3.5×-1.6× | 3.7×-0.4× | 3.1×-2.0× | |
| Free cash flow yield | 5.2%-1.8pp | 4.6%+1.3pp | 6.9%+4.2pp | 7.1%+5.0pp | 7%+5.3pp | |
| Earnings yield | 4.5%+12.2pp | 4.2%+10.0pp | 4.8%+12.5pp | 8.7%+27.0pp | -7.7%-1.8pp |
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.
