Stock Analysis on Net
Stock Analysis on Net

Illumina Inc. (NASDAQ:ILMN)

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

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

Illumina Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Oct 3, 2021 8.55% = 6.01% × 1.42
Jul 4, 2021 14.83% = 8.85% × 1.67
Apr 4, 2021 12.80% = 7.20% × 1.78
Dec 31, 2020 13.98% = 8.65% × 1.62
Sep 27, 2020 13.57% = 8.62% × 1.58
Jun 28, 2020 15.19% = 9.56% × 1.59
Mar 29, 2020 20.32% = 12.97% × 1.57
Dec 29, 2019 21.72% = 13.70% × 1.59
Sep 29, 2019 21.92% = 13.73% × 1.60
Jun 30, 2019 21.65% = 13.45% × 1.61
Mar 31, 2019 21.36% = 11.52% × 1.85
Dec 30, 2018 21.98% = 11.87% × 1.85
Sep 30, 2018 19.53% = 10.12% × 1.93
Jul 1, 2018 19.90% = 11.08% × 1.80
Apr 1, 2018 18.85% = 10.23% × 1.84
Dec 31, 2017 26.41% = 13.81% × 1.91
Oct 1, 2017 27.38% = 15.49% × 1.77
Jul 2, 2017 27.54% = 15.39% × 1.79
Apr 2, 2017 29.01% = 16.10% × 1.80
Dec 31, 2016 21.06% = 10.81% × 1.95
Oct 2, 2016 — = — × 1.89
Jul 3, 2016 — = — × 1.94
Apr 3, 2016 — = — × 1.91

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 primary reason for the decrease in return on equity ratio (ROE) over Q3 2021 is the decrease in profitability measured by return on assets ratio (ROA).

Three-Component Disaggregation of ROE

Illumina Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Oct 3, 2021 8.55% = 21.17% × 0.28 × 1.42
Jul 4, 2021 14.83% = 19.36% × 0.46 × 1.67
Apr 4, 2021 12.80% = 18.14% × 0.40 × 1.78
Dec 31, 2020 13.98% = 20.25% × 0.43 × 1.62
Sep 27, 2020 13.57% = 19.70% × 0.44 × 1.58
Jun 28, 2020 15.19% = 20.68% × 0.46 × 1.59
Mar 29, 2020 20.32% = 26.49% × 0.49 × 1.57
Dec 29, 2019 21.72% = 28.28% × 0.48 × 1.59
Sep 29, 2019 21.92% = 28.13% × 0.49 × 1.60
Jun 30, 2019 21.65% = 27.55% × 0.49 × 1.61
Mar 31, 2019 21.36% = 25.05% × 0.46 × 1.85
Dec 30, 2018 21.98% = 24.78% × 0.48 × 1.85
Sep 30, 2018 19.53% = 21.09% × 0.48 × 1.93
Jul 1, 2018 19.90% = 20.88% × 0.53 × 1.80
Apr 1, 2018 18.85% = 19.31% × 0.53 × 1.84
Dec 31, 2017 26.41% = 26.38% × 0.52 × 1.91
Oct 1, 2017 27.38% = 30.14% × 0.51 × 1.77
Jul 2, 2017 27.54% = 30.07% × 0.51 × 1.79
Apr 2, 2017 29.01% = 30.52% × 0.53 × 1.80
Dec 31, 2016 21.06% = 19.29% × 0.56 × 1.95
Oct 2, 2016 — = — × — × 1.89
Jul 3, 2016 — = — × — × 1.94
Apr 3, 2016 — = — × — × 1.91

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 primary reason for the decrease in return on equity ratio (ROE) over Q3 2021 is the decrease in efficiency measured by asset turnover ratio.

Five-Component Disaggregation of ROE

Illumina Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Oct 3, 2021 8.55% = 0.83 × 0.94 × 27.08% × 0.28 × 1.42
Jul 4, 2021 14.83% = 0.86 × 0.93 × 23.98% × 0.46 × 1.67
Apr 4, 2021 12.80% = 0.74 × 0.94 × 26.03% × 0.40 × 1.78
Dec 31, 2020 13.98% = 0.77 × 0.95 × 27.94% × 0.43 × 1.62
Sep 27, 2020 13.57% = 0.77 × 0.95 × 26.90% × 0.44 × 1.58
Jun 28, 2020 15.19% = 0.79 × 0.95 × 27.63% × 0.46 × 1.59
Mar 29, 2020 20.32% = 0.88 × 0.96 × 31.33% × 0.49 × 1.57
Dec 29, 2019 21.72% = 0.89 × 0.96 × 33.36% × 0.48 × 1.59
Sep 29, 2019 21.92% = 0.90 × 0.95 × 33.07% × 0.49 × 1.60
Jun 30, 2019 21.65% = 0.89 × 0.94 × 32.92% × 0.49 × 1.61
Mar 31, 2019 21.36% = 0.90 × 0.94 × 29.70% × 0.46 × 1.85
Dec 30, 2018 21.98% = 0.88 × 0.94 × 29.85% × 0.48 × 1.85
Sep 30, 2018 19.53% = 0.72 × 0.95 × 30.77% × 0.48 × 1.93
Jul 1, 2018 19.90% = 0.73 × 0.95 × 30.15% × 0.53 × 1.80
Apr 1, 2018 18.85% = 0.71 × 0.95 × 28.64% × 0.53 × 1.84
Dec 31, 2017 26.41% = 0.67 × 0.97 × 40.99% × 0.52 × 1.91
Oct 1, 2017 27.38% = 0.78 × 0.97 × 40.17% × 0.51 × 1.77
Jul 2, 2017 27.54% = 0.76 × 0.97 × 41.03% × 0.51 × 1.79
Apr 2, 2017 29.01% = 0.74 × 0.97 × 42.58% × 0.53 × 1.80
Dec 31, 2016 21.06% = 0.78 × 0.95 × 26.22% × 0.56 × 1.95
Oct 2, 2016 — = — × — × — × — × 1.89
Jul 3, 2016 — = — × — × — × — × 1.94
Apr 3, 2016 — = — × — × — × — × 1.91

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 primary reason for the decrease in return on equity ratio (ROE) over Q3 2021 is the decrease in efficiency measured by asset turnover ratio.

Two-Component Disaggregation of ROA

Illumina Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Oct 3, 2021 6.01% = 21.17% × 0.28
Jul 4, 2021 8.85% = 19.36% × 0.46
Apr 4, 2021 7.20% = 18.14% × 0.40
Dec 31, 2020 8.65% = 20.25% × 0.43
Sep 27, 2020 8.62% = 19.70% × 0.44
Jun 28, 2020 9.56% = 20.68% × 0.46
Mar 29, 2020 12.97% = 26.49% × 0.49
Dec 29, 2019 13.70% = 28.28% × 0.48
Sep 29, 2019 13.73% = 28.13% × 0.49
Jun 30, 2019 13.45% = 27.55% × 0.49
Mar 31, 2019 11.52% = 25.05% × 0.46
Dec 30, 2018 11.87% = 24.78% × 0.48
Sep 30, 2018 10.12% = 21.09% × 0.48
Jul 1, 2018 11.08% = 20.88% × 0.53
Apr 1, 2018 10.23% = 19.31% × 0.53
Dec 31, 2017 13.81% = 26.38% × 0.52
Oct 1, 2017 15.49% = 30.14% × 0.51
Jul 2, 2017 15.39% = 30.07% × 0.51
Apr 2, 2017 16.10% = 30.52% × 0.53
Dec 31, 2016 10.81% = 19.29% × 0.56
Oct 2, 2016 — = — × —
Jul 3, 2016 — = — × —
Apr 3, 2016 — = — × —

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 primary reason for the decrease in return on assets ratio (ROA) over Q3 2021 is the decrease in asset turnover ratio.

Four-Component Disaggregation of ROA

Illumina Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Oct 3, 2021 6.01% = 0.83 × 0.94 × 27.08% × 0.28
Jul 4, 2021 8.85% = 0.86 × 0.93 × 23.98% × 0.46
Apr 4, 2021 7.20% = 0.74 × 0.94 × 26.03% × 0.40
Dec 31, 2020 8.65% = 0.77 × 0.95 × 27.94% × 0.43
Sep 27, 2020 8.62% = 0.77 × 0.95 × 26.90% × 0.44
Jun 28, 2020 9.56% = 0.79 × 0.95 × 27.63% × 0.46
Mar 29, 2020 12.97% = 0.88 × 0.96 × 31.33% × 0.49
Dec 29, 2019 13.70% = 0.89 × 0.96 × 33.36% × 0.48
Sep 29, 2019 13.73% = 0.90 × 0.95 × 33.07% × 0.49
Jun 30, 2019 13.45% = 0.89 × 0.94 × 32.92% × 0.49
Mar 31, 2019 11.52% = 0.90 × 0.94 × 29.70% × 0.46
Dec 30, 2018 11.87% = 0.88 × 0.94 × 29.85% × 0.48
Sep 30, 2018 10.12% = 0.72 × 0.95 × 30.77% × 0.48
Jul 1, 2018 11.08% = 0.73 × 0.95 × 30.15% × 0.53
Apr 1, 2018 10.23% = 0.71 × 0.95 × 28.64% × 0.53
Dec 31, 2017 13.81% = 0.67 × 0.97 × 40.99% × 0.52
Oct 1, 2017 15.49% = 0.78 × 0.97 × 40.17% × 0.51
Jul 2, 2017 15.39% = 0.76 × 0.97 × 41.03% × 0.51
Apr 2, 2017 16.10% = 0.74 × 0.97 × 42.58% × 0.53
Dec 31, 2016 10.81% = 0.78 × 0.95 × 26.22% × 0.56
Oct 2, 2016 — = — × — × — × —
Jul 3, 2016 — = — × — × — × —
Apr 3, 2016 — = — × — × — × —

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 primary reason for the decrease in return on assets ratio (ROA) over Q3 2021 is the decrease in efficiency measured by asset turnover ratio.

Disaggregation of Net Profit Margin

Illumina Inc., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Oct 3, 2021 21.17% = 0.83 × 0.94 × 27.08%
Jul 4, 2021 19.36% = 0.86 × 0.93 × 23.98%
Apr 4, 2021 18.14% = 0.74 × 0.94 × 26.03%
Dec 31, 2020 20.25% = 0.77 × 0.95 × 27.94%
Sep 27, 2020 19.70% = 0.77 × 0.95 × 26.90%
Jun 28, 2020 20.68% = 0.79 × 0.95 × 27.63%
Mar 29, 2020 26.49% = 0.88 × 0.96 × 31.33%
Dec 29, 2019 28.28% = 0.89 × 0.96 × 33.36%
Sep 29, 2019 28.13% = 0.90 × 0.95 × 33.07%
Jun 30, 2019 27.55% = 0.89 × 0.94 × 32.92%
Mar 31, 2019 25.05% = 0.90 × 0.94 × 29.70%
Dec 30, 2018 24.78% = 0.88 × 0.94 × 29.85%
Sep 30, 2018 21.09% = 0.72 × 0.95 × 30.77%
Jul 1, 2018 20.88% = 0.73 × 0.95 × 30.15%
Apr 1, 2018 19.31% = 0.71 × 0.95 × 28.64%
Dec 31, 2017 26.38% = 0.67 × 0.97 × 40.99%
Oct 1, 2017 30.14% = 0.78 × 0.97 × 40.17%
Jul 2, 2017 30.07% = 0.76 × 0.97 × 41.03%
Apr 2, 2017 30.52% = 0.74 × 0.97 × 42.58%
Dec 31, 2016 19.29% = 0.78 × 0.95 × 26.22%
Oct 2, 2016 — = — × — × —
Jul 3, 2016 — = — × — × —
Apr 3, 2016 — = — × — × —

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 primary reason for the increase in net profit margin ratio over Q3 2021 is the increase in operating profitability measured by EBIT margin ratio.