Illumina (ILMN) stock
Health Care · Life Sciences Tools & Services
Illumina (ILMN) is a Life Sciences Tools & Services company in the Health Care sector, headquartered in San Diego, California. As of October 23, 2026, ILMN closed at $269.42, a market capitalization of $40.68 billion, the 270th largest company in the S&P 500. Over the last twelve months it generated $4.49 billion in revenue (+9% year over year) and $967.00 million in free cash flow. The stock trades at 50.3x trailing earnings and 44.0x forward earnings.
- 1-year total return: +169.5% (dividends reinvested)
- 5-year return: -7.5% a year
- 52-week range: $94.00 – $309.35
- Gross margin 67.9%, operating margin 21.1%
- FI Handbook report card: C+ across 10 metrics
- 35th largest of 60 Health Care stocks in the S&P 500
ILMN price chart
1Y price change: +169.5% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| ILMN | +5.5% | +105.4% | +169.5% | +32.3% | -7.5% | +6.9% | +10.6% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2000.
ILMN key statistics
- Market cap
- $40.7B
- #270 in S&P 500
- P/E (TTM)
- 50.3x
- Forward P/E
- 44.0x
- EPS (TTM)
- $5.36
- Revenue (TTM)
- $4.5B
- +9%
- Free cash flow
- $967.0M
- Gross margin
- 67.9%
- Operating margin
- 21.1%
- Return on equity
- 32.3%
- Dividend yield
- None
- 52-week range
- $94.00 – $309.35
- Beta
- 1.42
- Price / sales
- 9.1x
- EV / EBITDA
- 36.4x
- Debt / equity
- 0.89x
- Employees
- 8,600
ILMN report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth9.4%C
- Gross margin67.9%A
- Operating margin21.1%B
- FCF margin21.5%B
- Return on equity32.3%A
- Net debt / EBITDA1.2xC
- Forward P/E44.0xF
- PEG ratio3.1xF
- Shareholder yield1.8%C
- Share count change / yr0.4%C
Illumina financials
Revenue went from $1.9B in fiscal 2014 to $4.3B in fiscal 2025, growing 8.0% a year.
| Fiscal year | 2014 | 2016 | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9B | $2.2B | $2.8B | $3.3B | $3.5B | $3.2B | $4.5B | $4.5B | $4.4B | $4.3B |
| Gross profit | $1.3B | $1.5B | $1.8B | $2.3B | $2.5B | $2.2B | $3.2B | $2.7B | $2.9B | $2.9B |
| Operating income | $514.7M | $613.0M | $606.0M | $883.0M | $985.0M | $580.0M | -$123.0M | -$1.1B | -$833.0M | $807.0M |
| Net income | $353.4M | $462.0M | $726.0M | $826.0M | $1.0B | $656.0M | $762.0M | -$1.2B | -$1.2B | $850.0M |
| EPS (diluted) | $2.31 | $3.02 | $4.79 | $5.41 | $6.56 | $4.33 | $4.90 | $-7.34 | $-7.69 | $5.45 |
| Free cash flow | $395.3M | $643.0M | $565.0M | $846.0M | $842.0M | $891.0M | $337.0M | $283.0M | $709.0M | $931.0M |
| Buybacks | $237.2M | $274.0M | $251.0M | $201.0M | $324.0M | $736.0M | $0 | $0 | $116.0M | $742.0M |
| Diluted shares | 153.1M | 153.2M | 152.1M | 153.2M | 153.2M | 152.1M | 155.2M | 158.0M | 159.0M | 156.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into ILMN?
A reverse DCF asks what growth the current price requires. With an enterprise value of $42.0B and $967.0M of trailing free cash flow, Illumina needs to grow free cash flow about 30.7% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 2.0% a year over the last five years.
P/E ratio history
Current 49.4x vs. median 60.5x (10th–90th percentile 38.1x–122.5x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
ILMN earnings
Next report: October 29, 2026. Illumina has beaten EPS estimates 6 quarters in a row.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 30, 2026 | $1.23 | $1.31 | +6.8% |
| Apr 30, 2026 | $1.05 | $1.15 | +9.0% |
| Feb 5, 2026 | $1.23 | $1.35 | +9.7% |
| Oct 30, 2025 | $1.17 | $1.34 | +14.7% |
| Jul 31, 2025 | $1.01 | $1.19 | +17.7% |
| May 8, 2025 | $0.94 | $0.97 | +3.3% |
| Feb 6, 2025 | $0.92 | $0.86 | -6.8% |
| Nov 4, 2024 | $0.88 | $1.14 | +29.0% |
Stocks like ILMN
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 TMO Thermo Fisher Scientific | -0.40% | +18% | $249.1B | 35.5x | Compare |
 DHR Danaher | +0.33% | +4% | $162.0B | 38.2x | Compare |
 A Agilent Technologies | -0.47% | +18% | $48.8B | 34.1x | Compare |
 IQV IQVIA | +0.37% | +27% | $46.0B | 34.7x | Compare |
 WAT Waters | -0.42% | +28% | $44.5B | 114.9x | Compare |
 MTD Mettler-Toledo International, I | -0.85% | +16% | $33.5B | 37.6x | Compare |
 CRL Charles River Laboratories Inte | +1.68% | +81% | $16.6B | — | Compare |
 TECH Bio-Techne | -0.10% | +10% | $11.4B | 62.5x | Compare |
ILMN news
- Should Illumina Stock Holders Look At Thermo Fisher Instead? · Oct 23, 2026
- How Investors May Respond To Illumina (ILMN) BioInsight AI Rollout · Oct 23, 2026
- NGS Kits Market Forecasts Growth from $6.84 Billion (2025) to $19.36 Billion by 2036, Profiling Illumina, Thermo Fisher Scientific, Roche, Oxford Nanopore & 11 Other Key Players · Oct 23, 2026
- Twist Bioscience Sinks 9%, Illumina Down 5% as AI and Genomics Stocks Slide · Oct 22, 2026
- Illumina (ILMN) Reports Next Week: Wall Street Expects Earnings Growth · Oct 22, 2026
ILMN stock FAQ
What is ILMN's market cap?
Illumina's market capitalization is $40.68 billion as of October 23, 2026, ranking 270th in the S&P 500.
What is ILMN's P/E ratio?
ILMN trades at a trailing price-to-earnings ratio of 50.3x and a forward P/E of 44.0x. Its median P/E over the period we track is 60.5x.
Does ILMN pay a dividend?
No. Illumina does not currently pay a regular cash dividend.
How much has ILMN stock returned?
Including reinvested dividends, ILMN returned +169.5% over one year, -7.5% a year over five years, +6.9% a year over ten years through October 23, 2026.
Is ILMN stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Illumina must grow free cash flow about 31% a year for the next decade. Its free cash flow grew 2% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does ILMN report earnings?
Illumina is expected to report earnings on October 29, 2026. It has beaten EPS estimates 6 quarters in a row.
How many employees does Illumina have?
Illumina has about 8,600 full-time employees, or $522,558 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology