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Illumina Inc. (NASDAQ:ILMN)

This company has been moved to the archive! The financial data has not been updated since November 5, 2021.

Common-Size Balance Sheet: Assets
Quarterly Data

Illumina Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Oct 3, 2021 Jul 4, 2021 Apr 4, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016
Cash and cash equivalents 7.17 48.37 50.63 23.86 23.78 24.42 27.42 27.91 25.60 27.86 30.72 16.44 19.91 22.97 28.15 23.30 26.83 25.09 21.34 17.16 18.80 23.88 19.90
Short-term investments 1.23 1.04 2.25 21.91 21.11 20.67 18.47 18.75 19.06 17.64 18.20 34.03 30.23 19.96 14.67 17.50 13.61 13.87 17.33 19.25 17.54 11.88 15.50
Accounts receivable, net 4.01 6.22 5.91 6.42 6.27 5.31 6.50 7.83 7.63 6.74 6.18 7.39 6.41 6.75 7.22 7.82 7.59 7.66 8.00 8.91 9.03 9.35 10.61
Inventory 2.66 4.38 4.16 4.90 5.61 6.00 5.29 4.91 5.88 6.02 5.58 5.55 5.53 6.19 6.32 6.33 6.48 6.36 6.50 7.01 7.39 7.81 7.59
Prepaid expenses and other current assets 1.20 1.20 1.50 2.00 1.70 1.46 1.87 1.44 1.38 1.33 0.83 1.12 0.98 1.16 1.28 1.73 1.07 1.42 1.57 1.82 1.13 0.85 1.06
Current assets 16.27% 61.21% 64.44% 59.10% 58.47% 57.86% 59.55% 60.84% 59.56% 59.60% 61.50% 64.52% 63.06% 57.03% 57.63% 56.69% 55.59% 54.41% 54.74% 54.15% 53.88% 53.78% 54.66%
Property and equipment, net 6.70 10.55 10.45 12.16 12.29 12.28 12.26 12.15 12.34 12.25 11.53 15.45 15.68 17.71 17.74 17.71 17.08 17.23 15.96 16.66 14.99 12.83 10.16
Operating lease right-of-use assets 4.49 6.52 6.04 7.01 7.36 7.57 7.70 7.59 7.83 8.00 7.77 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Goodwill 47.12 11.14 10.25 11.83 12.12 12.33 11.35 11.26 11.62 11.82 11.24 11.94 12.29 14.20 13.98 14.67 15.28 15.87 16.77 18.13 18.35 19.47 20.46
Intangible assets, net 22.25 1.87 1.53 1.87 2.01 2.15 1.90 1.98 2.14 2.32 2.37 2.66 2.89 3.50 3.03 3.33 3.67 4.03 4.50 5.67 6.04 6.74 7.11
Other assets 3.17 8.71 7.29 8.03 7.75 7.80 7.24 6.18 6.50 6.01 5.59 5.43 6.08 7.55 7.61 7.61 8.38 8.46 8.03 5.39 6.73 7.18 7.62
Long-term assets 83.73% 38.79% 35.56% 40.90% 41.53% 42.14% 40.45% 39.16% 40.44% 40.40% 38.50% 35.48% 36.94% 42.97% 42.37% 43.31% 44.41% 45.59% 45.26% 45.85% 46.12% 46.22% 45.34%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-30), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-10-01), 10-Q (reporting date: 2017-07-02), 10-Q (reporting date: 2017-04-02), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-10-02), 10-Q (reporting date: 2016-07-03), 10-Q (reporting date: 2016-04-03).

The asset composition of the company remained relatively stable from 2016 through early 2021, characterized by a strong liquidity position and a gradual decrease in the relative weight of intangible assets. However, a significant structural shift occurred in the final quarter of the analyzed period, marked by a pivot from current assets toward long-term intangible assets.

Liquidity and Current Asset Trends
Current assets consistently represented more than half of the total asset base between April 2016 and July 2021, peaking at 64.52% in December 2018. Cash and cash equivalents exhibited volatility, with a notable peak exceeding 50% in April 2021 before declining sharply to 7.17% by October 2021. Similarly, short-term investments, which reached 34.03% in late 2018, fell to 1.23% in the final period. This precipitous decline in liquidity ratios suggests a large-scale deployment of cash reserves.
Operational Asset Efficiency
Accounts receivable and inventory showed a gradual downward trend as a percentage of total assets throughout the period. Accounts receivable decreased from 10.61% in April 2016 to 4.01% by October 2021, while inventory dropped from 7.59% to 2.66% over the same timeframe. This suggests a dilution of these operational assets relative to a substantially expanded total asset base.
Long-term Asset and Intangible Evolution
Long-term assets generally fluctuated between 35% and 46% of the total asset mix until a dramatic increase to 83.73% in October 2021. This shift is primarily driven by a surge in goodwill and intangible assets. Goodwill, which had steadily declined from 20.46% in 2016 to 10.25% in April 2021, spiked to 47.12% in October 2021. Net intangible assets followed a similar trajectory, rising from a low of 1.53% in April 2021 to 22.25% in October 2021. The simultaneous collapse of cash positions and the surge in these accounts are indicative of a major corporate acquisition.
Fixed Asset Trends
Property and equipment, net, grew from 10.16% in early 2016 to a peak of 17.74% in April 2018. Following this peak, the relative proportion of fixed assets gradually declined, ending at 6.70% in October 2021. This decline reflects a shift in the company's asset intensity, moving away from physical infrastructure toward intangible value drivers.

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