Debt to Equity
since 2005
Calculation
Illumina Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term debt1 | ÷ | Illumina stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2020 | 0.25 | = | 1,184) | ÷ | 4,694) |
| Dec 29, 2019 | 0.25 | = | 1,141) | ÷ | 4,613) |
| Dec 30, 2018 | 0.53 | = | 1,997) | ÷ | 3,758) |
| Dec 31, 2017 | 0.49 | = | 1,336) | ÷ | 2,749) |
| Jan 1, 2017 | 0.58 | = | 1,272) | ÷ | 2,197) |
| Jan 3, 2016 | 0.60 | = | 1,100) | ÷ | 1,849) |
| Dec 28, 2014 | 0.88 | = | 1,291) | ÷ | 1,463) |
| Dec 29, 2013 | 0.57 | = | 869) | ÷ | 1,533) |
| Dec 30, 2012 | 0.64 | = | 842) | ÷ | 1,319) |
| Jan 1, 2012 | 0.75 | = | 807) | ÷ | 1,075) |
| Jan 2, 2011 | 0.26 | = | 312) | ÷ | 1,198) |
| Jan 3, 2010 | 0.34 | = | 290) | ÷ | 864) |
| Dec 28, 2008 | 0.47 | = | 400) | ÷ | 849) |
| Dec 30, 2007 | 0.97 | = | 400) | ÷ | 412) |
| Dec 31, 2006 | 0.00 | = | —) | ÷ | 247) |
| Jan 1, 2006 | 0.00 | = | —) | ÷ | 72) |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2017-01-01), 10-K (reporting date: 2016-01-03), 10-K (reporting date: 2014-12-28), 10-K (reporting date: 2013-12-29), 10-K (reporting date: 2012-12-30), 10-K (reporting date: 2012-01-01), 10-K (reporting date: 2011-01-02), 10-K (reporting date: 2010-01-03), 10-K (reporting date: 2008-12-28), 10-K (reporting date: 2007-12-30), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2006-01-01).
1 US$ in millions
The capital structure from 2006 to 2020 reflects a strategic progression from a debt-free position to a balanced leverage model, characterized by substantial growth in stockholders' equity that consistently offset increases in long-term borrowing.
- Long-term Debt Trajectory
- Debt levels remained at zero through 2006 before rising to 400 million USD in 2007. A period of relative stability followed until 2012, after which debt increased significantly, reaching a peak of 1,997 million USD by 2018. A subsequent reduction occurred by 2020, with debt falling to 1,184 million USD.
- Stockholders' Equity Expansion
- A consistent and aggressive upward trend is observed in stockholders' equity, which grew from 72 million USD in 2006 to 4,694 million USD in 2020. This expansion occurred steadily across the observed timeframe, providing a strengthening foundation for the company's financial position.
- Debt-to-Equity Ratio Analysis
- The debt-to-equity ratio experienced volatility, peaking at 0.97 in 2007 and 0.88 in 2014. These peaks indicate periods where debt growth outpaced equity accumulation. However, the long-term trend shows a marked decline in leverage toward the end of the period, with the ratio dropping to 0.25 in 2019 and remaining at 0.25 in 2020, signifying a lower reliance on borrowed capital relative to equity.
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Comparison to Competitors
Illumina Inc., debt to equity, long-term trends, comparison to competitors
| Illumina Inc. | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Gilead Sciences Inc. | Johnson & Johnson | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2020 | 0.25 | 6.58 | 3.51 | 1.34 | 0.53 | 2.94 | 1.73 | 0.56 | 1.26 | 0.63 | 0.24 | 0.63 | 0.07 |
| Dec 29, 2019 | 0.25 | — | 3.09 | 0.91 | 0.72 | 5.88 | 1.09 | 0.47 | 1.02 | 0.83 | 0.06 | 0.60 | 0.09 |
| Dec 30, 2018 | 0.53 | — | 2.71 | 0.52 | 0.35 | 1.30 | 1.28 | 0.51 | 0.94 | 0.66 | 0.08 | 0.69 | 0.13 |
| Dec 31, 2017 | 0.49 | 7.33 | 1.40 | 0.68 | 0.40 | 1.18 | 1.64 | 0.57 | 0.71 | 0.60 | 0.11 | 0.83 | 0.29 |
| Jan 1, 2017 | 0.58 | 7.95 | 1.16 | 0.41 | 0.53 | 0.74 | 1.39 | 0.39 | 0.62 | 0.71 | 0.11 | 0.77 | 0.71 |
| Jan 3, 2016 | 0.60 | 8.03 | 1.12 | 0.47 | 0.54 | 0.55 | 1.20 | 0.28 | 0.59 | 0.60 | 0.10 | 0.59 | 0.86 |
| Dec 28, 2014 | 0.88 | 8.62 | 1.19 | 0.53 | 0.15 | 0.52 | 0.80 | 0.27 | 0.44 | 0.51 | 0.18 | 0.71 | 0.75 |
| Dec 29, 2013 | 0.57 | 3.28 | 1.45 | 0.55 | 0.16 | 0.30 | 0.58 | 0.25 | 0.50 | 0.48 | 0.26 | 0.62 | 0.36 |
| Dec 30, 2012 | 0.64 | 4.66 | 1.39 | 0.54 | 0.28 | 0.37 | 0.88 | 0.25 | 0.39 | 0.46 | 0.37 | 0.46 | 0.68 |
| Jan 1, 2012 | 0.75 | — | 1.13 | 0.34 | 0.31 | 0.52 | 1.13 | 0.34 | 0.32 | 0.47 | 0.90 | 0.47 | 0.58 |
| Jan 2, 2011 | 0.26 | — | 0.56 | 0.35 | 0.21 | 0.56 | 0.59 | 0.30 | 0.33 | 0.50 | 0.31 | 0.14 | 1.07 |
| Jan 3, 2010 | 0.34 | — | 0.47 | 0.43 | 0.25 | 0.70 | 0.18 | 0.29 | 0.30 | 0.54 | 0.27 | 0.14 | 0.14 |
| Dec 28, 2008 | 0.47 | — | 0.50 | 0.55 | 0.27 | 1.55 | 0.31 | 0.28 | 0.33 | 0.30 | 0.00 | 0.14 | 1.20 |
| Dec 30, 2007 | 0.97 | — | 0.63 | 0.59 | 0.41 | 0.37 | 0.38 | 0.22 | 0.32 | 0.20 | 0.43 | 0.15 | 0.07 |
| Dec 31, 2006 | 0.00 | — | 0.48 | 0.74 | 0.37 | 0.34 | 0.77 | 0.17 | 0.39 | 0.11 | 0.92 | 0.19 | 0.24 |
| Jan 1, 2006 | 0.00 | — | 0.19 | 0.77 | 0.21 | 0.60 | 0.10 | 0.07 | 0.45 | 0.27 | 1.75 | 0.21 | 0.75 |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2017-01-01), 10-K (reporting date: 2016-01-03), 10-K (reporting date: 2014-12-28), 10-K (reporting date: 2013-12-29), 10-K (reporting date: 2012-12-30), 10-K (reporting date: 2012-01-01), 10-K (reporting date: 2011-01-02), 10-K (reporting date: 2010-01-03), 10-K (reporting date: 2008-12-28), 10-K (reporting date: 2007-12-30), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2006-01-01).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Illumina Inc., debt to equity, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Illumina Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Dec 31, 2020 | 0.25 | 1.12 |
| Dec 29, 2019 | 0.25 | 1.09 |
| Dec 30, 2018 | 0.53 | 0.93 |
| Dec 31, 2017 | 0.49 | 0.87 |
| Jan 1, 2017 | 0.58 | 0.79 |
| Jan 3, 2016 | 0.60 | 0.68 |
| Dec 28, 2014 | 0.88 | 0.55 |
| Dec 29, 2013 | 0.57 | 0.52 |
| Dec 30, 2012 | 0.64 | 0.51 |
| Jan 1, 2012 | 0.75 | 0.46 |
| Jan 2, 2011 | 0.26 | 0.40 |
| Jan 3, 2010 | 0.34 | 0.39 |
| Dec 28, 2008 | 0.47 | 0.37 |
| Dec 30, 2007 | 0.97 | 0.30 |
| Dec 31, 2006 | 0.00 | 0.25 |
| Jan 1, 2006 | 0.00 | 0.29 |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2017-01-01), 10-K (reporting date: 2016-01-03), 10-K (reporting date: 2014-12-28), 10-K (reporting date: 2013-12-29), 10-K (reporting date: 2012-12-30), 10-K (reporting date: 2012-01-01), 10-K (reporting date: 2011-01-02), 10-K (reporting date: 2010-01-03), 10-K (reporting date: 2008-12-28), 10-K (reporting date: 2007-12-30), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2006-01-01).
Comparison to Industry (Health Care)
Illumina Inc., debt to equity, long-term trends, comparison to industry (health care)
| Illumina Inc. | Health Care | |
|---|---|---|
| Dec 31, 2020 | 0.25 | 0.92 |
| Dec 29, 2019 | 0.25 | 0.90 |
| Dec 30, 2018 | 0.53 | 0.80 |
| Dec 31, 2017 | 0.49 | 0.82 |
| Jan 1, 2017 | 0.58 | 0.77 |
| Jan 3, 2016 | 0.60 | 0.69 |
| Dec 28, 2014 | 0.88 | 0.54 |
| Dec 29, 2013 | 0.57 | 0.50 |
| Dec 30, 2012 | 0.64 | 0.54 |
| Jan 1, 2012 | 0.75 | 0.47 |
| Jan 2, 2011 | 0.26 | 0.43 |
| Jan 3, 2010 | 0.34 | 0.42 |
| Dec 28, 2008 | 0.47 | 0.42 |
| Dec 30, 2007 | 0.97 | 0.36 |
| Dec 31, 2006 | 0.00 | 0.32 |
| Jan 1, 2006 | 0.00 | 0.30 |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2017-01-01), 10-K (reporting date: 2016-01-03), 10-K (reporting date: 2014-12-28), 10-K (reporting date: 2013-12-29), 10-K (reporting date: 2012-12-30), 10-K (reporting date: 2012-01-01), 10-K (reporting date: 2011-01-02), 10-K (reporting date: 2010-01-03), 10-K (reporting date: 2008-12-28), 10-K (reporting date: 2007-12-30), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2006-01-01).