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Illumina Inc.
ILMNHealthcareGenerated Aug 19, 2026, 10:32 PM UTC
ILMN (Illumina Inc.) analytical snapshot. Revenue declined +0.7% YoY to $4.34B. 5-year revenue CAGR -0.8%; 10y CAGR +6.8%. Net margin at 19.57% (expanding ▲). Market cap $30.95B at $205.00 per share. Trailing P/E 37.61, P/S 7.13, P/B 10.91. EV/Operating income ≈ 37.98 (EV $30.65B). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score 0 (data confidence 83%). Descriptive analytics from public filings — not investment advice.
Free SEC analysis
— computed from SEC filings, free to readFilings & Ownership
Latest annual report (10-K) filed Feb 12, 2026. Latest quarterly report (10-Q) filed Jul 31, 2026. 16 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 12, 2026.
- Latest quarterly report (10-Q) filed Jul 31, 2026.
- 16 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 2 sell transactions — net selling $233.7K.
- ~10,000+ recent 13F-HR filings reference Illumina Inc.; broad institutional reporting.
- Recent filers include Wiser Advisor Group LLC, LANSDOWNE PARTNERS (UK) LLP, DeepCurrents Investment Group LLC.
- 2 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 18 recent 13G passive institutional ownership notices.
| Filer | Form | Filed |
|---|---|---|
| Wiser Advisor Group LLC | 13F-HR | May 16, 2024 |
| LANSDOWNE PARTNERS (UK) LLP | 13F-HR | Aug 13, 2021 |
| DeepCurrents Investment Group LLC | 13F-HR | May 16, 2019 |
| DeepCurrents Investment Group LLC | 13F-HR | May 15, 2019 |
| LANSDOWNE PARTNERS (UK) LLP | 13F-HR | May 16, 2022 |
| Insider | Date | Net | Buys/Sells |
|---|---|---|---|
| Davies Scott M | Aug 3, 2026 | -$123.0K | 0/1 |
| Davies Scott M | Jun 25, 2026 | -$110.7K | 0/1 |
| Date | Form | Description |
|---|---|---|
| Aug 17, 2026 | 8-K | 8-K |
| Aug 13, 2026 | 8-K | CURRENT REPORT |
| Aug 12, 2026 | 8-K | 8-K |
| Aug 7, 2026 | 8-K | 8-K |
| Jul 30, 2026 | 8-K | 8-K |
| Jun 23, 2026 | 8-K | 8-K |
| May 26, 2026 | 8-K | 8-K |
| Apr 30, 2026 | 8-K | 8-K |
SEC Filing Deep-Analysis
3 risk signal(s), 1 positive signal(s), 2 watch item(s) detected from XBRL filing diff analysis. Revenue grew -0.7% but receivables grew +16.2% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- Receivables outpacing revenue: Accounts receivable grew +16.2% YoY vs revenue growth of -0.7%. The +16.9% spread suggests extended credit terms, channel stuffing risk, or collection deterioration. Investigate the allowance for doubtful accounts and DSO trend.
- Material weakness in internal controls: The term "material weakness" "internal control" appears in 4 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- NEW: Restatement of financial statements in latest filing: The term "restatement of" "previously issued" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 1 filing(s).
- Operating cash flow exceeds net income: OCF is 1.27x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- R&D intensity declining: R&D as % of revenue fell from 26.7% to 22.3%. This may signal reduced innovation investment — potentially impacting long-term competitive position. Compare with peer R&D trends.
- NEW: Off-balance sheet arrangements: Off-balance sheet arrangements appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: Revenue grew -0.7% but receivables grew +16.2% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- 5 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 2 new risk-language term(s) detected in filing text: Restatement of financial statements, Off-balance sheet arrangements.
- Ongoing high-severity risk language: Material weakness in internal controls.
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $4.37B | $4.34B | $-29.0M | -0.7% |
| Gross profit | $2.86B | $2.87B | $9.0M | +0.3% |
| Operating income | $-833.0M | $807.0M | $1.64B | +196.9% |
| Net income | $-1.22B | $850.0M | $2.07B | +169.5% |
| Operating cash flow | $837.0M | $1.08B | $242.0M | +28.9% |
| Capex | $128.0M | $148.0M | $20.0M | +15.6% |
| Total assets | $6.30B | $6.64B | $341.0M | +5.4% |
| Long-term debt | $1.14B | $673.0M | $-468.0M | -41.0% |
| Cash & equivalents | $1.13B | $1.42B | $291.0M | +25.8% |
| Stockholders equity | $2.37B | $2.72B | $350.0M | +14.7% |
| Inventory | $547.0M | $564.0M | $17.0M | +3.1% |
| Accounts receivable | $735.0M | $854.0M | $119.0M | +16.2% |
| R&D expense | $1.17B | $967.0M | $-202.0M | -17.3% |
| SG&A expense | $1.09B | $1.09B | $-6.0M | -0.5% |
| Interest expense | $26.0M | $77.0M | $51.0M | +196.2% |
| Type | Concepts |
|---|---|
| Added | BusinessCombinationContingentConsiderationLiabilityCurrent, FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear, FiniteLivedIntangibleAssetsGross, InventoryNoncurrent, PaymentForContingentConsiderationLiabilityInvestingActivities |
| Removed | AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment, AdvertisingExpense, CapitalExpendituresIncurredButNotYetPaid, CommonStockParOrStatedValuePerShare, CommonStockSharesAuthorized, CommonStockSharesIssued, CommonStockSharesOutstanding, CurrentFederalTaxExpenseBenefit, CurrentForeignTaxExpenseBenefit, CurrentIncomeTaxExpenseBenefit |
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Material weakness in internal controls | high | 4 | 2 | Ongoing |
| Restatement of financial statements | high | 1 | 0 | NEW |
| Impairment charge | medium | 5 | 4 | Ongoing |
| Restructuring | medium | 5 | 6 | Ongoing |
| Off-balance sheet arrangements | medium | 5 | 0 | NEW |
| Related party transactions | low | 5 | 2 | Ongoing |
Fundamentals
Revenue declined +0.7% YoY to $4.34B. 5-year revenue CAGR -0.8%; 10y CAGR +6.8%. Net margin at 19.57% (expanding ▲).
- Revenue declined +0.7% YoY to $4.34B.
- 5-year revenue CAGR -0.8%; 10y CAGR +6.8%.
- Net margin at 19.57% (expanding ▲).
- Return on equity 31.22%, ROA 12.79%, ROIC 29.64%.
- Gross margin 66.08%, operating margin 18.58%.
- Free cash flow margin 21.44% ($931.0M).
- Net income up ▲ +169.5% YoY.
- Debt/equity 0.30, current ratio 1.80, net debt -$306.0M.
- Asset turnover 0.65 — capital efficiency.
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2024 | $4.37B | -2.9% | 65.44 | -19.05 | -27.97 | $709.0M | -51.54 |
| 2025 | $4.34B | -0.7% | 66.08 | 18.58 | 19.57 | $931.0M | 31.22 |
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Sep 29, 2024 | $1.08B | — | — | 65.28% |
| Mar 30, 2025 | $1.04B | — | -3.6% | 12.58% |
| Jun 29, 2025 | $1.06B | — | +1.7% | 22.19% |
| Sep 28, 2025 | $1.08B | — | +2.4% | 13.84% |
| Mar 29, 2026 | $1.09B | — | +0.6% | 12.28% |
| Jun 28, 2026 | $1.16B | — | +6.2% | 17.86% |
Pro analysis — preview
— score, signals & key metrics shown; full reasoning lockedValuation
Market cap $30.95B at $205.00 per share. Trailing P/E 37.61, P/S 7.13, P/B 10.91. EV/Operating income ≈ 37.98 (EV $30.65B).
- Market cap $30.95B at $205.00 per share.
Price & Technicals
Price $205.00 — uptrend (above 200-DMA); 1-month momentum positive. RSI(14) 49.92.
- Price $205.00 — uptrend (above 200-DMA); 1-month momentum positive.
Macro & Rates
Risk-on · Supportive. Real GDP growth 1.50% (quarterly, as of Apr 1, 2026). CPI inflation +3.3% YoY. Fed funds rate 3.63%, 10Y Treasury 4.71%.
- Market regime: Risk-on · Supportive.
Risk Scorecard
Composite risk Moderate. Leverage debt/equity 0.30 (low). Liquidity current ratio 1.80 (adequate).
- Composite risk: Moderate.
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Macro exposure
Defensive · Low sensitivityMacro regime: Risk-on · Supportive. Illumina Inc. is a defensive name (low macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.
Analytical read
deterministic previewRevenue declined **+0.7%** YoY to $4.34B..
Peer comparison
Defensive groupHow ILMN stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| DexCom Inc. DXCM | 21 | Neutral |
| Bristol-Myers Squibb BMY | 19 | Neutral |
| Eli Lilly & Co. LLY | 17 | Neutral |
| HCA Healthcare HCA | 9 | Neutral |
| Gilead Sciences GILD | 8 | Neutral |
| Johnson & Johnson JNJ | 8 | Neutral |
| Abbott Laboratories ABT | 7 | Neutral |
| Biogen Inc. BIIB | 7 | Neutral |
| Intuitive Surgical Inc. ISRG | 7 | Neutral |
| Coca-Cola Co. KO | 6 | Neutral |
| Zoetis Inc. ZTS | 6 | Neutral |
| Thermo Fisher Scientific TMO | 3 | Neutral |
| Regeneron Pharmaceuticals REGN | 3 | Neutral |
| Danaher Corp. DHR | 1 | Neutral |
| Merck & Co. MRK | 0 | Neutral |
| Illumina Inc. ILMN● you | 0 | Neutral |
| Colgate-Palmolive CL | -2 | Neutral |
| Vertex Pharmaceuticals VRTX | -2 | Neutral |
| AbbVie Inc. ABBV | -5 | Neutral |
| Procter & Gamble PG | -7 | Neutral |
| CVS Health Corp. CVS | -8 | Neutral |
| Mondelez International MDLZ | -10 | Neutral |
| Amgen Inc. AMGN | -10 | Neutral |
| Cigna Group CI | -11 | Neutral |
| Kroger Co. KR | -12 | Neutral |
| Costco Wholesale COST | -14 | Neutral |
| Walmart Inc. WMT | -14 | Neutral |
| Pfizer Inc. PFE | -15 | Neutral |
| PepsiCo Inc. PEP | -16 | Neutral |
| Sysco Corp. SYY | -16 | Neutral |
| Hershey Co. HSY | -17 | Neutral |
| Kimberly-Clark Corp. KMB | -18 | Neutral |
| Moderna Inc. MRNA | -21 | Neutral |
| UnitedHealth Group UNH | -25 | Neutral |