| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 20 | 38.4x | 17.8x | Bottom tier | |
Growth | 27 | 4.9% | 7.1% | Bottom tier | |
Quality | 90 | 13.5% | 4.5% | Top tier | |
Safety | 77 | 1.2x | 2.6x | Top tier | |
Capital Return | 61 | — | 2.12% | Around median | |
Momentum | 93 | 89.5% | 2.9% | Top tier | |
Sentiment | 38 | 12 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Illumina develops genetic sequencing platforms, tools, and services, and generates revenue from sales of instruments such as NovaSeq X and MiSeq i100, from consumables used by its installed instrument base, and from data and analytics services. The company is expanding the scope of its platform through clinical applications that include oncology, therapy selection, and residual disease monitoring, in addition to multiomics offerings such as StrataMap Spatial, SomaScan, and SomaSeq, and BioInsight services aimed at AI-enabled drug discovery.
In fiscal Q2 2026, revenue reached 1.16 billion dollars, up 9.5% year over year and 6.5% organically, while organic growth outside China was 8.1%. The financial statements recorded gross profit of 770 million dollars, net income of 207 million dollars, and earnings per share of 1.35 dollars, while the company reported non-GAAP diluted earnings per share of 1.31 dollars, a non-GAAP gross margin of 68.2%, and an operating margin of 22.5%.
Sequencing consumables were the largest source of revenue in fiscal Q2 2026 at 775 million dollars, with 5% year-over-year growth, followed by services and other revenue at 154 million dollars, with 14% growth, then sequencing instruments at 125 million dollars, with 31% growth, and microarrays and other revenue at 105 million dollars, with reported growth of 21%. Clinical markets account for approximately 65% of sequencing consumables revenue, and these consumables grew 15% in clinical applications outside China, compared with a 7% decline in research and applied markets.
The average analyst price target is 200.14 dollars, with a consensus rating of “Buy” and a wide target range of 155 to 230 dollars; the average is below the 52-week range high of 231.81 dollars, while the highest target nearly matches it. No current price-to-earnings ratio is available in the data, so the valuation rests on Illumina's ability to achieve its fiscal 2026 revenue guidance of 4.60-4.64 billion dollars and expand margins, while accounting for weakness in the research market and the wide range of analyst estimates.
Figures in the text are as of 2026-08-28; the live price is shown at the top of the page.
Illumina's revenue reached approximately 1.16 billion dollars, up 9.5% year over year, with organic growth outside China of 8.1%. Sequencing instrument revenue rose 31% to 125 million dollars after the placement of more than 95 NovaSeq X instruments and continued MiSeq i100 momentum. Clinical sequencing consumables also grew 15% outside China, and the United States and Canada recorded growth exceeding 20%.
The share of volumes transitioned to NovaSeq X reached 83% in fiscal Q2 2026, compared with a 59% revenue transition, while 78% of clinical volumes were on the platform. The company expects the transition of clinical volumes to reach the 80%-85% range by the end of fiscal 2026. Clinical customers typically require six to nine months after instrument installation to reach normalized utilization, so elevated installations could support consumables revenue during fiscal 2027.
The company raised its reported revenue guidance to a range of 4.60-4.64 billion dollars, an increase of 50 million dollars at the midpoint. It also raised diluted earnings per share guidance to 5.30-5.40 dollars, representing year-over-year growth of 11% at the midpoint and 14% excluding the impact of acquisitions. It expects organic growth outside China to exceed 5%, with a non-GAAP operating margin of between 23.4% and 23.6%.
Automated analysis for informational purposes only — not investment advice.
Billion Cell Atlas within BioInsight began recording revenue by fiscal Q2 2026 after the company delivered more than 300 million cells. Illumina added three pharmaceutical company partners after the end of the quarter, bringing the total to six, and this revenue appears within services. It also launched StrataMap Spatial in summer 2026, while products such as TruPath and single-cell products typically appear within consumables revenue.
Sequencing consumables in research and applied markets declined 7% outside China in fiscal Q2 2026, and the company expects them to continue declining in the mid- to high-single digits during the year. Illumina also incurred higher memory and freight costs and increased inventory to secure critical components for several quarters. In addition, the organic growth metric for the rest of the world excludes Greater China because the company was placed on China's unreliable entity list.
Fiscal Q2 2026 generated cash flow from operations of 201 million dollars and free cash flow of 162 million dollars after capital expenditures of 39 million dollars. The company repurchased 0.9 million shares for approximately 122 million dollars at an average of 129.07 dollars per share, and it had approximately 1.8 billion dollars remaining under existing authorizations. It ended the quarter with approximately 1.17 billion dollars in cash, cash equivalents, and short-term investments, compared with total debt of 1.99 billion dollars and a total debt-to-EBITDA ratio of approximately 1.6 times.
