Price to Earnings (P/E)
since 2005
Calculation
Illumina Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss) attributable to Illumina stockholders1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 17, 2021 | 109.92 | = | 494.24 | ÷ | 4.50 | 4.50 | = | 656 | ÷ | 145,900,000 | |
| Feb 11, 2020 | 43.43 | = | 296.00 | ÷ | 6.82 | 6.82 | = | 1,002 | ÷ | 147,000,000 | |
| Feb 12, 2019 | 52.00 | = | 292.20 | ÷ | 5.62 | 5.62 | = | 826 | ÷ | 147,000,000 | |
| Feb 13, 2018 | 44.63 | = | 220.44 | ÷ | 4.94 | 4.94 | = | 726 | ÷ | 147,000,000 | |
| Feb 14, 2017 | 52.01 | = | 164.46 | ÷ | 3.16 | 3.16 | = | 463 | ÷ | 146,300,000 | |
| Mar 2, 2016 | 50.07 | = | 157.20 | ÷ | 3.14 | 3.14 | = | 462 | ÷ | 147,000,000 | |
| Feb 18, 2015 | 80.83 | = | 198.62 | ÷ | 2.46 | 2.46 | = | 353 | ÷ | 143,800,000 | |
| Feb 18, 2014 | 174.33 | = | 170.40 | ÷ | 0.98 | 0.98 | = | 125 | ÷ | 128,200,000 | |
| Feb 15, 2013 | 39.96 | = | 48.73 | ÷ | 1.22 | 1.22 | = | 151 | ÷ | 124,040,754 | |
| Feb 24, 2012 | 72.33 | = | 51.22 | ÷ | 0.71 | 0.71 | = | 87 | ÷ | 122,327,021 | |
| Feb 28, 2011 | 70.92 | = | 69.40 | ÷ | 0.98 | 0.98 | = | 125 | ÷ | 127,626,004 | |
| Feb 26, 2010 | 60.45 | = | 36.32 | ÷ | 0.60 | 0.60 | = | 72 | ÷ | 120,298,934 | |
| Feb 26, 2009 | 77.14 | = | 32.16 | ÷ | 0.42 | 0.42 | = | 50 | ÷ | 121,077,875 | |
| Feb 26, 2008 | — | = | 37.23 | ÷ | -2.51 | -2.51 | = | -278 | ÷ | 111,090,078 | |
| Feb 28, 2007 | 50.48 | = | 16.80 | ÷ | 0.33 | 0.33 | = | 40 | ÷ | 120,098,536 | |
| Mar 6, 2006 | — | = | 12.79 | ÷ | -0.25 | -0.25 | = | -21 | ÷ | 82,538,624 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Illumina Inc. Annual Report.
The valuation trajectory from 2006 to 2021 is characterized by substantial volatility in the price-to-earnings (P/E) ratio, reflecting periods of aggressive market speculation and rapid share price appreciation that frequently outpaced earnings growth.
- Earnings Per Share (EPS) Evolution
- Earnings demonstrated significant instability in the early period, with negative values recorded in 2006 and 2008. Following 2009, a consistent upward trend in EPS was established, growing from 0.42 to a peak of 6.82 in 2020. However, a notable contraction occurred in 2021, where EPS decreased to 4.50.
- Share Price Appreciation
- The share price exhibited an overall exponential growth pattern. After a period of moderate growth between 2006 and 2013, a sharp escalation occurred in 2014, with the price rising from 48.73 to 170.40. This growth trend continued through 2021, reaching a terminal value of 494.24.
- P/E Ratio Anomalies and Trends
- The P/E ratio displays two primary spikes that deviate from the general mean. The first occurred in 2014, reaching a peak of 174.33, driven by a massive surge in share price while EPS remained relatively stagnant at 0.98. The second spike occurred in 2021, where the ratio rose to 109.92, resulting from the combination of an all-time high share price and a decline in annual earnings.
- Valuation Stability Phase
- A period of relative valuation stabilization is observed between 2015 and 2020. During this interval, the P/E ratio generally fluctuated between 43.43 and 80.83, suggesting a more balanced correlation between market price and fundamental earnings growth compared to the extreme volatility seen in 2014 and 2021.
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Comparison to Competitors
Illumina Inc., P/E, 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 17, 2021 | 109.92 | 40.17 | 18.82 | — | 44.49 | 31.95 | 641.48 | 28.92 | 26.72 | 19.62 | 15.09 | 27.89 | 20.18 |
| Feb 11, 2020 | 43.43 | 17.82 | 17.07 | 41.99 | 38.34 | 16.19 | 16.45 | 25.99 | 20.60 | 11.63 | 19.86 | 33.36 | 52.90 |
| Feb 12, 2019 | 52.00 | 20.60 | 14.01 | 16.81 | 29.77 | 39.13 | 15.26 | 23.74 | 33.46 | 21.58 | 18.17 | 35.19 | 22.59 |
| Feb 13, 2018 | 44.63 | 35.47 | 64.06 | 103.55 | 27.25 | — | 22.75 | 268.10 | 61.63 | 9.99 | 28.99 | 37.66 | 155.08 |
| Feb 14, 2017 | 52.01 | 16.54 | 16.03 | 20.56 | 23.02 | 32.39 | 6.83 | 20.08 | 46.14 | 28.10 | 42.64 | 30.45 | — |
| Mar 2, 2016 | 50.07 | 17.01 | 15.95 | 64.22 | 17.85 | 33.35 | 6.75 | 18.80 | 31.64 | 26.37 | 60.50 | 26.19 | — |
| Feb 18, 2015 | 80.83 | 55.08 | 22.96 | 49.80 | 23.69 | 33.06 | 12.85 | 17.15 | 13.94 | 23.03 | 118.44 | 27.26 | — |
| Feb 18, 2014 | 174.33 | 19.64 | 18.69 | 35.01 | 19.74 | 13.88 | 42.00 | 18.72 | 37.83 | 9.32 | 77.00 | 38.43 | — |
| Feb 15, 2013 | 39.96 | 11.51 | 15.68 | 30.56 | 17.73 | 14.99 | 25.20 | 19.64 | 20.94 | 13.51 | 21.42 | 22.54 | — |
| Feb 24, 2012 | 72.33 | — | 14.61 | 15.07 | 16.92 | 10.42 | 12.20 | 18.48 | 18.63 | 15.99 | — | 15.58 | 267.42 |
| Feb 28, 2011 | 70.92 | — | 10.53 | 13.99 | 18.29 | 7.86 | 10.68 | 12.23 | 116.63 | 18.63 | — | 20.87 | — |
| Feb 26, 2010 | 60.45 | — | 12.10 | 4.03 | 20.93 | 9.18 | 16.29 | 14.22 | 9.00 | 16.41 | — | 23.49 | — |
| Feb 26, 2009 | 77.14 | — | 12.06 | 7.68 | 12.56 | — | 20.29 | 11.67 | 6.53 | 10.25 | — | 15.25 | — |
| Feb 26, 2008 | — | — | 15.64 | 20.60 | 17.35 | 19.26 | 25.19 | 17.07 | 29.88 | 18.51 | — | 30.76 | — |
| Feb 28, 2007 | 50.48 | — | 25.43 | 34.64 | 19.65 | 22.40 | — | 17.02 | 21.57 | 9.18 | — | 113.28 | — |
| Mar 6, 2006 | — | — | 23.70 | 14.96 | 21.38 | 31.90 | 34.15 | 16.95 | 16.62 | 23.92 | — | 25.36 | — |
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., P/E, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Illumina Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Feb 17, 2021 | 109.92 | 34.89 |
| Feb 11, 2020 | 43.43 | 21.03 |
| Feb 12, 2019 | 52.00 | 22.89 |
| Feb 13, 2018 | 44.63 | 35.21 |
| Feb 14, 2017 | 52.01 | 20.62 |
| Mar 2, 2016 | 50.07 | 19.37 |
| Feb 18, 2015 | 80.83 | 21.40 |
| Feb 18, 2014 | 174.33 | 19.54 |
| Feb 15, 2013 | 39.96 | 17.56 |
| Feb 24, 2012 | 72.33 | 16.42 |
| Feb 28, 2011 | 70.92 | 16.11 |
| Feb 26, 2010 | 60.45 | 11.66 |
| Feb 26, 2009 | 77.14 | 12.21 |
| Feb 26, 2008 | — | 20.04 |
| Feb 28, 2007 | 50.48 | 17.46 |
| Mar 6, 2006 | — | 20.94 |
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., P/E, long-term trends, comparison to industry (health care)
| Illumina Inc. | Health Care | |
|---|---|---|
| Feb 17, 2021 | 109.92 | 32.22 |
| Feb 11, 2020 | 43.43 | 22.09 |
| Feb 12, 2019 | 52.00 | 24.32 |
| Feb 13, 2018 | 44.63 | 33.04 |
| Feb 14, 2017 | 52.01 | 21.90 |
| Mar 2, 2016 | 50.07 | 19.53 |
| Feb 18, 2015 | 80.83 | 21.38 |
| Feb 18, 2014 | 174.33 | 18.67 |
| Feb 15, 2013 | 39.96 | 15.77 |
| Feb 24, 2012 | 72.33 | 15.79 |
| Feb 28, 2011 | 70.92 | 15.12 |
| Feb 26, 2010 | 60.45 | 11.71 |
| Feb 26, 2009 | 77.14 | 13.07 |
| Feb 26, 2008 | — | 19.29 |
| Feb 28, 2007 | 50.48 | 18.61 |
| Mar 6, 2006 | — | 21.71 |
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).