Price to Operating Profit (P/OP)
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Aggregate Accruals
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Calculation
Illumina Inc., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Income (loss) from operations1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 17, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2017 | = | ÷ | = | ÷ | |||||||
| Mar 2, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 6, 2006 | = | ÷ | = | ÷ |
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.
- Share price trends
- The share price exhibits an overall increasing trend from 12.79 US$ in March 2006 to 494.24 US$ by February 2021. Notable increments occur between 2013 and 2015, where the price rises sharply from 48.73 US$ to 198.62 US$, and again between 2019 and 2021, with the price increasing from 292.2 US$ to 494.24 US$. Some fluctuations are evident in earlier years, such as the decrease from 69.4 US$ in 2011 to 48.73 US$ in 2013, but subsequent years show sustained growth.
- Operating profit per share (OP per share) patterns
- Operating profit per share shows volatility in the initial years, with negative and low positive values such as -0.26 US$ in 2006 and -2.71 US$ in 2008, followed by gradual improvement. From 2010 onward, the OP per share remains consistently positive, increasing from 1.04 US$ in 2010 to a peak of 6.7 US$ in 2020, although a decrease to 3.98 US$ is seen in 2021. This suggests improving operational profitability over most of the period, despite occasional declines.
- Price-to-operating profit ratio (P/OP ratio) analysis
- The P/OP ratio shows significant variation, reflecting changes in market valuation relative to operating profitability. It reaches extremely high levels, such as 162.89 in 2014 and 124.33 in 2021, indicating periods when the share price grew disproportionately compared to operating profits. Conversely, lower ratios around 30 to 55 in periods like 2010–2013 and 2015–2019 suggest a closer alignment between price and profitability. The missing ratio data in certain years limits continuous trend analysis.
- Overall insights
- The data suggests a company experiencing substantial growth in market valuation over 15 years, accompanied by a general improvement in operating profitability. The disconnect between share price increases and operating profit in certain years implies market optimism or expectations that outpace current profitability. The volatility in OP per share in early years transitioning to stability also indicates maturation of operational performance. The elevated P/OP ratios in recent years might warrant attention for potential overvaluation or expectations of future growth beyond current earnings.
Comparison to Competitors
Illumina Inc., P/OP, long-term trends, comparison to competitors
| Illumina Inc. | AbbVie Inc. | Amgen Inc. | Danaher Corp. | Gilead Sciences Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|
| Feb 17, 2021 | ||||||||
| Feb 11, 2020 | ||||||||
| Feb 12, 2019 | ||||||||
| Feb 13, 2018 | ||||||||
| Feb 14, 2017 | ||||||||
| Mar 2, 2016 | ||||||||
| Feb 18, 2015 | ||||||||
| Feb 18, 2014 | ||||||||
| Feb 15, 2013 | ||||||||
| Feb 24, 2012 | ||||||||
| Feb 28, 2011 | ||||||||
| Feb 26, 2010 | ||||||||
| Feb 26, 2009 | ||||||||
| Feb 26, 2008 | ||||||||
| Feb 28, 2007 | ||||||||
| Mar 6, 2006 |
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).