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Illumina Inc ILMN

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Stock XNAS Rating as of
$105.51 +0.01 (< 0.01%)
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As of Delayed Price Pre-Open: $105.51 0.00
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Company Report

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Illumina: Completes Spinoff of Grail to Shareholders

Julie Utterback

Illumina has completed its planned spin off of Grail directly to shareholders, with trading starting on June 25. As highlighted when this announcement was made in early June, we have reduced our fair value estimate on Illumina to $188 per share, which includes $180 of value on the firm's core sequencing business plus about $8 of value on Illumina’s remaining 14.5% stake in Grail, down from a total valuation of $228 previously. With this divestiture, Illumina is now focused on its narrow-moat sequencing business, which has intangible asset and switching cost moat sources.

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Price vs Fair Value

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ILMN is trading at a 30% premium.
Price
$105.51
Fair Value
$795.00
Uncertainty
High
1-Star Price
$451.40
5-Star Price
$235.50
Economic Moat
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Capital Allocation
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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
$105.50
Day Range
$105.48–107.56
52-Week Range
$86.50–190.15
Bid/Ask
$104.00 / $108.95
Market Cap
$16.81 Bil
Volume/Avg
382 / 2.7 Mil

Key Statistics

Price/Earnings (Normalized)
119.90
Price/Sales
3.72
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)
 119.9024.70—
Price/Book Value
 2.934.4851.49
Price/Sales
 3.724.865.58
Price/Cash Flow
 35.8323.82—
Price/Earnings
ILMN
TMO
GH

Financial Strength

Metric
ILMN
TMO
GH
Quick Ratio
 1.181.195.52
Current Ratio
 1.751.705.95
Interest Coverage
 −15.224.83−195.67
Quick Ratio
ILMN
TMO
GH

Profitability

Metric
ILMN
TMO
GH
Return on Assets (Normalized)
 1.28%8.69%−17.37%
Return on Equity (Normalized)
 2.25%18.71%−213.40%
Return on Invested Capital (Normalized)
 1.78%10.97%−22.39%
Return on Assets
ILMN
TMO
GH
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