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Illumina Inc ILMN

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Stock XNAS Rating as of
$110.53 −0.82 (0.74%)
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Company Report

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Illumina Earnings: Mildly Better Than Expected and 2024 Outlook Maintained

Julie Utterback

Illumina announced first-quarter results that were slightly stronger than anticipated, and maintained its guidance for the year. At first glance, we do not plan to change our $228 per share fair value estimate, and shares continue to trade well below what we think the legacy business is worth, excluding Grail, which is $180 per share. Our moat rating on Illumina remains narrow, relating primarily to the intangible assets and switching costs in sequencing. As a reminder, Illumina plans to divest liquid biopsy maker Grail through a third-party or capital market transaction by late 2024, with terms to be settled by midyear.

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Price vs Fair Value

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ILMN is trading at a 469% premium.
Price
$110.53
Fair Value
$241.00
Uncertainty
High
1-Star Price
$927.60
5-Star Price
$119.90
Economic Moat
Qsdyh
Capital Allocation
Ffvwmvm

Bulls Say, Bears Say

Bulls

Genomic sequencing remains a relatively early stage market, and expanding sequencing indications, including the nascent liquid biopsy applications that would use its sequencers, create large growth opportunities for Illumina with or without Grail.

Bears

Disruptive technology risks could threaten Illumina's industry-leading sequencing platform, leading to market share losses and profit declines.

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Trading Information

Previous Close Price
$111.35
Day Range
$109.53–112.24
52-Week Range
$89.00–213.91
Bid/Ask
$108.80 / $110.51
Market Cap
$17.61 Bil
Volume/Avg
1.2 Mil / 1.6 Mil

Key Statistics

Price/Earnings (Normalized)
125.60
Price/Sales
3.89
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
—

Company Profile

Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates over 90% of its revenue from sequencing instruments, consumables, and services. Illumina’s high-throughput technology enables whole genome sequencing in humans and other large organisms. Its lower throughput tools enable applications that require smaller data outputs, such as viral and cancer tumor screening. Illumina also sells microarrays (9% of 2023 sales) that enable lower-cost, focused genetic screening with primarily consumer and agricultural applications.
Sector
Healthcare
Industry
Diagnostics & Research
Stock Style Box
Mid Growth
Total Number of Employees
9,300
Website
https://www.illumina.com

Competitors

Valuation

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Metric
ILMN
TMO
GH
Price/Earnings (Normalized)
 125.6026.73—
Price/Book Value
 3.064.8539.90
Price/Sales
 3.895.264.33
Price/Cash Flow
 37.5425.78—
Price/Earnings
ILMN
TMO
GH

Financial Strength

Metric
ILMN
TMO
GH
Quick Ratio
 1.181.196.11
Current Ratio
 1.751.706.54
Interest Coverage
 −15.224.83−198.43
Quick Ratio
ILMN
TMO
GH

Profitability

Metric
ILMN
TMO
GH
Return on Assets (Normalized)
 0.03%8.69%−17.37%
Return on Equity (Normalized)
 0.06%18.71%−213.40%
Return on Invested Capital (Normalized)
 0.21%10.97%−22.39%
Return on Assets
ILMN
TMO
GH
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