Illumina Inc
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+ FollowMarket Cap$35.63B
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Earnings Call Q3 2026
October 29, 2026 - AI Summary
Strong Q3 execution; raised full-year guidance (excluding tariff refunds):
- Q3 revenue $1.17B (+4.7% YoY on “rest of world organic” basis; reported growth aided by FX/acquisitions).
- Sequencing consumables revenue $792M (+6% YoY; +5% organic RO basis); operating margin 25% (up 100 bps vs guidance).
- Diluted EPS $1.44 (+7% YoY) and above the high end of guidance.
- Company explicitly notes tariff refunds impacted GAAP/non-GAAP results positively on income/margins/EPS but negatively on revenue; all guidance/discussion is on an adjusted basis excluding tariff refunds.
Clinical consumables momentum remains the core driver; research still headwind (but stabilizing):
- Clinical consumables growth ~14% in Q3 (expects mid-teens clinical growth for 2026).
- Research & applied consumables declined ~6% in Q3; company expects mid to high single-digit declines for 2026, with signs research activity is stabilizing.
- Q4 outlook implied by management is stronger versus prior trends, supporting the revised yearly numbers.
NovaSeq X transition is “mostly done” in research; still ramping in clinical (pricing headwinds easing):
- Approximately 84% of high-throughput volume and 60% of revenue is now on NovaSeq X.
- Research: ≥90% of volume on X for each of the last five quarters → minimal transition pricing headwinds going forward.
- Clinical: ~78% on X, conversion expected to reach 80%–85% in coming quarters → year-over-year pricing headwinds in 2027 should be lower than in 2026.
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$86.98
61.6% downside
Current Fair Value
61.6% downsideOvervalued by 61.6% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $35.63 Billion |
|---|---|
| Enterprise Value | $37.04 Billion |
| Earnings per Share | $5.48 |
| Beta | 1.42 |
| Outstanding Shares | 151,000,000 |
Return
| Return on Equity | 29.07% |
|---|---|
| Return on Assets | 12.41% |
| Return on Invested Capital | 18.71% |
Valuation & Multiples
| P/E Ratio | 40.07 |
|---|---|
| PEG | -336.27 |
| Price to Sales | 7.81 |
| Price to Book Ratio | 12.59 |
| Enterprise Value to Revenue | 8.24 |
| Enterprise Value to EBIT | 39.03 |
| Enterprise Value to Net Income | 44 |
| Total Debt to Enterprise | 0.07 |
| Debt to Equity | 0.86 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 29, 2026
EPS Estimate
$1.36
Consensus analyst estimateRevenue Estimate
$1.15 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 4, 2027
EPS Estimate
$1.52
Consensus analyst estimateRevenue Estimate
$1.23 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 33.62% |
|---|---|
| Total Calls | 5,820▼ 99.15% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 4.62%▼ 98.04% |
|---|---|
| Total Invested | $1.89B▼ 93.16% |
| Investors Holding | 385▼ 586.00% |
About Illumina Inc
8,600 employees
CEO: Francis deSouza
Illumina, Inc. specializes in delivering advanced sequencing and array technologies designed for genetic and genomic examination. These offerings cater to a diverse array of markets, fostering the widespread use of genomic insights acros...