Analysis of Geographic Areas
Illumina Inc. operates in 2 regions: United States and Other countries.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
- Aggregate Accruals
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Area Asset Turnover
Illumina Inc., asset turnover by geographic area
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| United States | |||||
| Other countries |
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: 2016-12-31).
The analysis of the annual geographic area asset turnover ratios reveals distinct trends between the United States and other countries over the five-year period examined.
- United States
- The asset turnover ratio in the United States showed moderate fluctuations. It started at 2.03 in 2016 and dipped slightly to 1.82 in 2017, indicating a temporary decrease in efficiency in generating revenue from assets. The ratio then increased to 1.96 in 2018, suggesting a recovery. A significant improvement occurred in 2019, reaching a peak of 2.67, which represents enhanced asset utilization that year. However, in 2020, the ratio decreased to 2.28, reflecting a slight decline in turnover but remaining above the initial years.
- Other countries
- The asset turnover ratio in other countries demonstrated a consistent downward trend throughout the period. Beginning at a high of 14.34 in 2016, the ratio dropped sharply to 12.05 in 2017, then continued to decrease to 9.25 in 2018. This declining pattern persisted more gradually in 2019 and 2020, with values of 8.73 and 8.04 respectively. Despite this steady decline, the ratio in other countries remained substantially higher than that in the United States throughout the entire period.
- Comparative insights
- The data indicate that, while asset turnover is markedly higher in other countries compared to the United States, the efficiency of asset utilization in those regions has been diminishing over time. Conversely, the United States showed more variable performance with an overall upward recovery trend after 2017, peaking in 2019 before experiencing a minor decline in 2020. The contrasting trends suggest differing operational or market conditions impacting asset efficiency across geographic areas.
Area Asset Turnover: United States
Illumina Inc.; United States; area asset turnover calculation
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | |||||
| Net long-lived assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
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: 2016-12-31).
1 2020 Calculation
Area asset turnover = Revenue ÷ Net long-lived assets
= ÷ =
- Revenue
- The revenue exhibited an overall upward trend from 2016 to 2019, increasing from 1294 million US dollars in 2016 to a peak of 1859 million US dollars in 2019. However, there was a noticeable decline in 2020, with revenue dropping to 1655 million US dollars, representing a decrease from the previous year.
- Net Long-lived Assets
- Net long-lived assets increased steadily from 636 million US dollars in 2016 to a high of 907 million US dollars in 2018. Thereafter, there was a significant decrease in 2019 to 696 million US dollars, followed by a slight recovery to 725 million US dollars in 2020.
- Area Asset Turnover Ratio
- The area asset turnover ratio, which measures the efficiency of asset use to generate revenue, showed some variation over the period. It declined from 2.03 in 2016 to 1.82 in 2017, then improved to 1.96 in 2018. The ratio peaked at 2.67 in 2019, indicating a marked improvement in asset utilization, before decreasing to 2.28 in 2020.
- Overall Insights
- The data indicates that the company achieved revenue growth alongside increasing net long-lived assets up to 2018, with asset utilization improving significantly in 2019. The drop in revenue and net long-lived assets in 2020, accompanied by a decline in asset turnover, suggests potential operational or market challenges affecting performance in that year. Despite these declines, asset turnover remained above earlier period levels, indicating relatively efficient use of assets.
Area Asset Turnover: Other countries
Illumina Inc.; Other countries; area asset turnover calculation
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | |||||
| Net long-lived assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
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: 2016-12-31).
1 2020 Calculation
Area asset turnover = Revenue ÷ Net long-lived assets
= ÷ =
- Revenue
- The revenue in the "Other countries" geographic area showed an overall upward trend from 2016 to 2019, increasing from $1,104 million to a peak of $1,684 million. However, in 2020, there was a decline to $1,584 million, indicating a slight reversal in growth after several years of consistent increases.
- Net long-lived assets
- Net long-lived assets exhibited continuous growth throughout the period. Starting at $77 million in 2016, the assets more than doubled by 2020, reaching $197 million. This steady increase suggests ongoing investments or asset acquisitions in the geographic area over the five-year span.
- Area asset turnover
- The area asset turnover ratio showed a declining trend from 2016 to 2020. Beginning at 14.34 in 2016, the ratio dropped each year, ending at 8.04 in 2020. This indicates that despite the increase in net long-lived assets, the efficiency in generating revenue from these assets has diminished over the period.
Revenue
Illumina Inc., revenue by geographic area
US$ in millions
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| United States | |||||
| Other countries | |||||
| Total |
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: 2016-12-31).
- Revenue Trends in the United States
- The revenue generated in the United States showed a consistent upward trend from 2016 through 2019, increasing from $1,294 million in 2016 to $1,859 million in 2019. However, in 2020, there was a noticeable decline to $1,655 million, representing a reduction compared to the previous year.
- Revenue Trends in Other Countries
- Revenue from other countries also displayed steady growth from 2016 to 2019, rising from $1,104 million in 2016 to $1,684 million in 2019. Similar to the U.S. market, revenue in this segment declined in 2020, falling to $1,584 million.
- Total Revenue Trends
- Total revenue followed an overall increasing trajectory between 2016 and 2019, moving from $2,398 million to $3,543 million, driven by growth in both the U.S. and international markets. In 2020, total revenue decreased to $3,239 million, corresponding with declines seen in both geographic segments.
- Summary and Insights
- The data reveals strong revenue growth across all regions from 2016 to 2019, indicating successful expansion or increased market demand during this period. The decline in 2020 revenue across both the United States and other countries suggests the presence of adverse factors affecting overall sales, leading to a contraction after years of growth. This pattern may warrant further analysis into external influences or internal challenges impacting performance in 2020.
Net long-lived assets
Illumina Inc., net long-lived assets by geographic area
US$ in millions
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| United States | |||||
| Other countries | |||||
| Total |
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: 2016-12-31).
- United States Net Long-Lived Assets
- The net long-lived assets in the United States increased from $636 million in 2016 to a peak of $907 million in 2018. After 2018, the value declined to $696 million in 2019, followed by a slight recovery to $725 million in 2020. This trend indicates a growth phase in the first three years, succeeded by a decrease and modest rebound in the subsequent years.
- Other Countries Net Long-Lived Assets
- Assets in other countries exhibited a steady upward trend throughout the entire period under review. From $77 million in 2016, net long-lived assets increased consistently each year, reaching $197 million by the end of 2020. This reflects a continuous expansion or investment in locations outside the United States.
- Total Net Long-Lived Assets
- The total net long-lived assets mirrored the movements in the United States and other countries combined. Total assets rose from $713 million in 2016 to a high of $1,075 million in 2018, followed by a decrease to $889 million in 2019, and a slight increase to $922 million in 2020. The volatility in total assets appears to be driven primarily by fluctuations within the United States, while the international segment demonstrated steady growth.
- Summary
- The data indicate that net long-lived assets in the United States have experienced more variability over the examined period, with growth peaking in 2018 and a subsequent decline. In contrast, the assets in other countries have shown consistent growth, suggesting an increasing international footprint. Overall, total net long-lived assets peaked in 2018, followed by a modest decline and stabilization through 2020, highlighting a possible shift or rebalancing of asset allocation between the domestic and international markets.