Analysis of Reportable Segments
Illumina Inc. operates in 2 segments: Core Illumina and Helix.
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Illumina Inc. pages available for free this week:
- 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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Segment Profit Margin
Illumina Inc., profit margin by reportable segment
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Core Illumina | |||||
| Helix |
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 profit margin data for the reportable segments over the given periods reveals contrasting trends between the Core Illumina segment and the Helix segment.
- Core Illumina Segment Profit Margin
- This segment maintains a generally stable profit margin from 2016 through 2019, fluctuating moderately around the high 20% range. Specifically, the margin starts at 28.16% in 2016, dips slightly to 25.27% in 2017, then recovers to a peak of 29.09% in 2018 before slightly declining to 28.45% in 2019. However, in 2020, there is a notable and significant reduction to 17.91%, representing a substantial decrease in profitability relative to previous years.
- Helix Segment Profit Margin
- Data for the Helix segment is sparse and indicates negative profit margins where available, suggesting this segment is incurring losses. Profit margin values are exceptionally negative for the years recorded: -1533.33% in 2017, -900% in 2018, and -2400% in 2019. The absence of data for 2016 and 2020 limits trend analysis, yet the extreme negative percentages imply persistent and severe operating losses during these years. No recovery or improvement is observable within the available data points.
In summary, the Core Illumina segment demonstrates a period of stable profitability before encountering a significant downturn in the most recent year. Contrastingly, the Helix segment is consistently unprofitable with extremely negative margins, indicating potential challenges in operational efficiency or revenue generation. The disparity between the two segments highlights the Core Illumina segment as the primary contributor to profitability, while Helix represents a financial concern requiring management attention.
Segment Profit Margin: Core Illumina
Illumina Inc.; Core Illumina; segment profit margin calculation
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) from operations | |||||
| Revenue | |||||
| Segment Profitability Ratio | |||||
| Segment profit margin1 | |||||
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
Segment profit margin = 100 × Income (loss) from operations ÷ Revenue
= 100 × ÷ =
The analysis of the segment data over the five-year period reveals several notable trends in financial performance.
- Income (loss) from operations
- This metric demonstrated an overall increasing trend from 2016 to 2019, rising from 684 million USD in 2016 to a peak of 1,008 million USD in 2019. However, in 2020, there was a significant decline to 580 million USD, which represents a considerable drop in operational income despite previous growth.
- Revenue
- Revenue grew consistently from 2,428 million USD in 2016 to a high of 3,543 million USD in 2019, indicating sustained sales growth. In 2020, revenue decreased to 3,239 million USD, reflecting a contraction after several years of expansion.
- Segment profit margin
- The profit margin showed some variability during the period. It started at 28.16% in 2016, declined to 25.27% in 2017, and then increased again to 29.09% in 2018, followed by a slight decline to 28.45% in 2019. However, in 2020, there was a sharp reduction to 17.91%, marking a substantial decrease in profitability relative to revenue.
In summary, from 2016 through 2019, the segment experienced growth in both income from operations and revenue, accompanied by relatively stable and strong profit margins near 28 to 29%. The year 2020 deviated from this pattern, showing declines in revenue, a more pronounced drop in operating income, and a significant decrease in segment profit margin. This suggests challenges impacting operational efficiency or cost structure during the latest year, leading to compressed profitability despite still substantial revenue levels.
Segment Profit Margin: Helix
Illumina Inc.; Helix; segment profit margin calculation
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) from operations | |||||
| Revenue | |||||
| Segment Profitability Ratio | |||||
| Segment profit margin1 | |||||
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
Segment profit margin = 100 × Income (loss) from operations ÷ Revenue
= 100 × ÷ =
The data reveals several notable trends in the financial performance of the Helix segment over the reviewed periods.
- Income (loss) from operations
- This metric consistently reflects negative values throughout the observed years, with losses ranging from -81 million US dollars in 2016 to -24 million US dollars in 2019. Although the operating loss decreased over time indicating some improvement, the segment remained unprofitable. The absence of data for 2020 makes trend continuation unclear for the latest period.
- Revenue
- Reported revenue appears limited and inconsistent, beginning at 6 million US dollars in 2017, increasing to 10 million in 2018, but then sharply declining to 1 million in 2019. The missing data for 2016 and 2020 restricts the ability to fully evaluate revenue growth or stability. The sharp drop in 2019 signals potential operational challenges or market issues impacting sales.
- Segment profit margin
- The profit margin is dramatically negative for all periods with available data, showing extreme losses of -1533.33% in 2017, improving somewhat to -900% in 2018, but then worsening considerably to -2400% in 2019. Such margins indicate that expenses significantly exceeded revenue, highlighting inefficiencies or high operating costs. The volatility and extremely negative percentages underline ongoing financial difficulties in achieving profitability.
Overall, the Helix segment exhibits sustained operational losses and negative profitability over the analyzed periods. While the decline in operating losses by 2019 suggests some progress, the erratic and minimal revenue alongside severe negative profit margins point to significant challenges in achieving financial viability. The available data suggests a need for strategic adjustments to improve revenue generation and cost management within this segment.
Segment Return on Assets (Segment ROA)
Illumina Inc., ROA by reportable segment
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Core Illumina | |||||
| Helix |
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 data on annual reportable segment Return on Assets (ROA) reveals distinct trends for the two segments over the observed period.
- Core Illumina
- The ROA for this segment displayed a generally declining trend during the five-year period from 2016 to 2020. It started at 16.41% in 2016, then decreased to 13.33% in 2017, followed by a minor rebound to 14.03% in 2018. The ratio slightly dipped again to 13.78% in 2019 before experiencing a significant drop to 7.65% by the end of 2020. This overall decline indicates a reduction in asset profitability over time, with the sharp decrease in 2020 potentially signaling challenges or decreased efficiency in asset utilization during that year.
- Helix
- This segment showed considerable volatility and negative ROA values in the years data is available. The ROA was -45.13% in 2016, worsened dramatically to -204.44% in 2017, and then improved somewhat to -58.44% in 2018. Data for 2019 and 2020 are absent, which limits further analysis. The negative and highly variable ROA suggests persistent unprofitability, with significant losses relative to assets during the reported periods. The lack of data beyond 2018 may indicate a change in reporting or operational status for this segment.
Segment ROA: Core Illumina
Illumina Inc.; Core Illumina; segment ROA calculation
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) from operations | |||||
| Total assets | |||||
| Segment Profitability Ratio | |||||
| Segment ROA1 | |||||
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
Segment ROA = 100 × Income (loss) from operations ÷ Total assets
= 100 × ÷ =
- Income from Operations
- The income from operations displayed an overall increasing trend from 2016 to 2019, rising from 684 million US dollars to a peak of 1,008 million US dollars. However, there was a notable decline in 2020, where income from operations dropped significantly to 580 million US dollars.
- Total Assets
- Total assets consistently increased throughout the period observed. Starting at 4,167 million US dollars in 2016, the total assets rose steadily each year, reaching 7,585 million US dollars by the end of 2020. This suggests ongoing asset growth and expansion.
- Segment Return on Assets (ROA)
- The segment ROA exhibited a declining trend over the five years. Initially, ROA was 16.41% in 2016, but it dropped to 13.33% in 2017. Although there was a slight recovery in 2018 and 2019 with values of 14.03% and 13.78% respectively, the metric fell sharply to 7.65% in 2020. This decrease indicates reduced profitability relative to the asset base, particularly notable in the final year.
Segment ROA: Helix
Illumina Inc.; Helix; segment ROA calculation
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) from operations | |||||
| Total assets | |||||
| Segment Profitability Ratio | |||||
| Segment ROA1 | |||||
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
Segment ROA = 100 × Income (loss) from operations ÷ Total assets
= 100 × ÷ =
The financial data reveals several notable trends over the observed periods.
- Income (loss) from operations
- The segment reported operating losses throughout the available periods, with losses increasing from -81 million US dollars in 2016 to -92 million in 2017. In 2018, the loss slightly decreased to -90 million, followed by a significant improvement in 2019, when losses were reduced to -24 million. Data for 2020 is absent, preventing further trend analysis for that year.
- Total assets
- Total assets exhibited considerable fluctuation over the years. The segment started with 180 million US dollars in assets at the end of 2016, which sharply declined to 45 million in 2017. In 2018, assets rebounded to 154 million; however, data is missing for 2019 and 2020, hindering analysis for these periods.
- Segment Return on Assets (ROA)
- The segment showed consistently negative return on assets percentages, indicating ongoing unprofitability relative to asset base. ROA was -45.13% in 2016, dramatically worsening to -204.44% in 2017, before improving to -58.44% in 2018. No data is available to assess ROA beyond 2018.
Overall, the segment struggled with ongoing operational losses and pronounced volatility in asset levels. The steep decline in ROA in 2017 suggests an extraordinary operational inefficiency or asset impairment during that year, followed by partial recovery in 2018. The marked reduction of operating losses in 2019 indicates improving operational performance, although incomplete asset and ROA data limits a full evaluation of the segment’s financial health in the latest periods.
Segment Asset Turnover
Illumina Inc., asset turnover by reportable segment
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Core Illumina | |||||
| Helix |
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).
- Core Illumina Segment Asset Turnover
- The Core Illumina segment exhibits a consistent decline in asset turnover ratio over the five-year period from December 31, 2016, to December 31, 2020. Beginning at 0.58 in 2016, the ratio decreased steadily to 0.43 by the end of 2020. This downward trend suggests that the segment is generating less revenue per unit of assets employed each year, indicating potential challenges in optimizing asset usage or slowing revenue growth relative to asset base expansion.
- Helix Segment Asset Turnover
- The Helix segment presents limited data, available only for 2017 and 2018. In 2017, the asset turnover ratio was 0.13, which dropped markedly to 0.06 in 2018. This sharp decline over a one-year period may reflect initial inefficiencies or the early development stage of this segment, with relatively low revenue generation compared to its asset values. Data for subsequent years are unavailable, preventing further trend analysis.
- Comparative Insights
- Comparing both segments for the years they overlap, Core Illumina maintained significantly higher asset turnover ratios than Helix, indicating stronger operational efficiency in generating revenues from assets. The persistent decline in Core Illumina’s ratio, coupled with the low and decreasing ratio of Helix, may imply segment-specific challenges or shifts in business strategy affecting asset utilization.
Segment Asset Turnover: Core Illumina
Illumina Inc.; Core Illumina; segment 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 | |||||
| Total assets | |||||
| Segment Activity Ratio | |||||
| Segment 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
Segment asset turnover = Revenue ÷ Total assets
= ÷ =
- Revenue
- The revenue demonstrated a general upward trend from 2016 to 2019, increasing from 2,428 million US dollars to 3,543 million US dollars. However, in 2020, there was a decline, with revenue falling to 3,239 million US dollars, indicating a potential slowdown or market challenge during that year.
- Total assets
- Total assets consistently increased throughout the entire period from 2016 to 2020. Starting at 4,167 million US dollars in 2016, total assets grew steadily each year, reaching 7,585 million US dollars by the end of 2020. This suggests continued investment and asset accumulation over the years.
- Segment asset turnover
- The segment asset turnover experienced a continuous decline over the period under review. Beginning at 0.58 in 2016, the ratio decreased each year to 0.43 in 2020. This declining trend indicates that the efficiency with which the segment utilized its assets to generate revenue diminished gradually over the five-year span.
Segment Asset Turnover: Helix
Illumina Inc.; Helix; segment 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 | |||||
| Total assets | |||||
| Segment Activity Ratio | |||||
| Segment 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
Segment asset turnover = Revenue ÷ Total assets
= ÷ =
The segment data for the analyzed periods reveal notable fluctuations in several key financial metrics. Revenue figures indicate initial growth from the second to the third period, increasing from 6 million US dollars to 10 million US dollars. However, there is a sharp decline in the fourth period, where revenue drastically decreases to only 1 million US dollars, with no available data for the final period.
Total assets exhibit significant variability across the intervals. Starting at 180 million US dollars in the first period, assets drop precipitously to 45 million US dollars in the second period. This is followed by a recovery to 154 million US dollars in the third period, after which asset data is missing for the subsequent periods, limiting the ability to analyze trends further.
The segment asset turnover ratio, a measure of efficiency in utilizing assets to generate revenue, starts at an unspecified value for the first period, recorded as 0.13 in the second period, and then decreases to 0.06 in the third period. Data for this ratio is not available for the remaining periods. The decline from 0.13 to 0.06 suggests decreasing efficiency in asset usage during that timeframe.
Overall, the segment portrays an environment of instability with revenue peaking and then collapsing within the analyzed timeframe. Asset holdings also reflect a volatile pattern, decreasing sharply before partially rebounding. The declining asset turnover ratio further suggests reduced operational efficiency in the utilization of assets over the periods where data is available. The missing information for the later periods hampers a comprehensive understanding of the full trend, but the existing data highlights periods of significant change and challenges in sustaining growth and asset productivity.
Segment Capital Expenditures to Depreciation
Illumina Inc., capital expenditures to depreciation by reportable segment
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Core Illumina | |||||
| Helix |
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).
- Core Illumina Capital Expenditures to Depreciation Ratio
- The ratio for the Core Illumina segment showed variability throughout the analyzed period. Beginning at 1.73 in 2016, the ratio increased to a peak of 2 in 2017, indicating a level of capital expenditures twice the amount of depreciation that year. However, from 2018 onwards, there was a consistent downward trend: the ratio decreased to 1.68 in 2018, then sharply declined to 1.12 in 2019, and finally reached 1.01 in 2020. This decline suggests a gradual move toward capital expenditures approximating the level of depreciation, implying reduced investment intensity or increased asset base stability over time.
- Helix Capital Expenditures to Depreciation Ratio
- The Helix segment exhibited significant fluctuation in its capital expenditures to depreciation ratio early in the reported timeframe. Starting at a high level of 5.15 in 2016, the ratio drastically fell to 0.67 in 2017 and further to 0.33 in 2018. These values indicate a sharp reduction in capital expenditures relative to depreciation. Post-2018, data for this segment are unavailable, precluding analysis of any subsequent trends or developments.
Segment Capital Expenditures to Depreciation: Core Illumina
Illumina Inc.; Core Illumina; segment capital expenditures to depreciation calculation
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | |||||
| Depreciation and amortization | |||||
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | |||||
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
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= ÷ =
The data presents capital expenditures, depreciation and amortization, and the ratio of segment capital expenditures to depreciation for the reportable segment over five consecutive years.
- Capital Expenditures
- Capital expenditures decreased over the period, starting at $238 million in 2016 and peaking slightly at $306 million in 2017. Subsequently, there was a steady decline each year, reaching $189 million in 2020. This trend suggests a reduction in investment in long-term assets after 2017.
- Depreciation and Amortization
- Depreciation and amortization expenses have shown a consistent upward trend, rising from $138 million in 2016 to $187 million by 2020. This increase indicates a growing allocation of expenses related to previously capitalized assets.
- Segment Capital Expenditures to Depreciation Ratio
- The ratio started at 1.73 in 2016, reached its highest at 2.00 in 2017, then steadily declined to 1.01 in 2020. The decreasing ratio suggests that capital expenditures have declined relative to the depreciation expense, implying that asset reinvestment has not kept pace with asset consumption or write-down.
Overall, the trends indicate a shift from higher investments in capital assets towards a period of reduced capital expenditure, while depreciation expenses have increased, reflecting ongoing asset aging or amortization of intangible assets. The narrowing of the capital expenditures to depreciation ratio highlights a potential slowing in asset base expansion or renewal within the segment during the latter years.
Segment Capital Expenditures to Depreciation: Helix
Illumina Inc.; Helix; segment capital expenditures to depreciation calculation
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | |||||
| Depreciation and amortization | |||||
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | |||||
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
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= ÷ =
The financial data for the Helix segment reveals notable fluctuations in capital expenditures and depreciation over the analyzed periods.
- Capital Expenditures
- Capital expenditures demonstrated a significant decline over the timeframe, starting at 22 million US dollars in 2016, sharply decreasing to 4 million in 2017, and further declining to 2 million in 2018. Data for subsequent years is not available, precluding analysis beyond 2018.
- Depreciation and Amortization
- Depreciation and amortization expenses showed an increase from 4 million US dollars in 2016 to 6 million in both 2017 and 2018, followed by a decline to 3 million in 2019. The absence of data for 2020 limits further trend analysis.
- Segment Capital Expenditures to Depreciation Ratio
- This ratio, representing capital expenditure magnitude relative to depreciation, experienced a pronounced decrease from 5.15 in 2016 to 0.67 in 2017, and further to 0.33 in 2018. This trend reflects a diminishing level of investments relative to wear and tear or amortization of the segment's assets. Data for later years is missing.
Overall, the Helix segment exhibits a trend of reduced investment in capital assets alongside variable depreciation expenses, suggesting potential changes in asset management or operational strategy during the reported periods. The decline in the capital expenditures to depreciation ratio indicates that capital spending diminished substantially in comparison to asset depreciation through 2018.
Revenue
Illumina Inc., revenue by reportable segment
US$ in millions
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Core Illumina | |||||
| Helix | |||||
| Eliminations | |||||
| Consolidated |
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).
- Core Illumina Revenue
- The Core Illumina segment exhibited a general upward trend from 2016 through 2019. Revenue increased from $2,428 million in 2016 to a peak of $3,543 million in 2019. However, in 2020, there was a noticeable decline to $3,239 million, indicating a contraction in the segment's revenue after several years of growth.
- Helix Revenue
- Revenue for the Helix segment appears to have been introduced starting in 2017, with a small contribution of $6 million. This increased marginally to $10 million in 2018, then sharply dropped to $1 million in 2019. No data is reported for 2016 and 2020, suggesting either inactivity or lack of reporting for those years. The fluctuating and generally low values show that Helix has a minor impact on overall revenue.
- Eliminations
- The Eliminations item shows negative values each year, representing intersegment revenue eliminations. These amounts varied significantly, from -$30 million in 2016, to just -$1 million in 2019. The smaller elimination figure in 2019 suggests reduced intersegment transactions or adjustments that year.
- Consolidated Revenue
- Consolidated revenue followed a similar pattern to Core Illumina, increasing steadily from $2,398 million in 2016 to $3,543 million in 2019. In 2020, consolidated revenue fell to $3,239 million. This decline reflects trends seen primarily in the Core Illumina segment, as Helix contributions are small and Eliminations are comparatively minor adjustments.
- Summary of Trends
- The data indicates sustained revenue growth in the core business until 2019, followed by a downturn in 2020. The Helix segment contributes minimally with some volatility and missing data. Eliminations have decreased over time, suggesting a changing dynamic in intersegment transactions. Overall, revenue growth peaked in 2019 with a subsequent decline in the following year.
Depreciation and amortization
Illumina Inc., depreciation and amortization by reportable segment
US$ in millions
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Core Illumina | |||||
| Helix | |||||
| Eliminations | |||||
| Consolidated |
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 data on annual reportable segment depreciation and amortization reveals discernible trends across the periods under review.
- Core Illumina Segment
-
This segment demonstrates a consistent and steady upward trajectory in depreciation and amortization expenses over the five-year period. Starting at 138 million US dollars in 2016, the figures increase annually to reach 187 million US dollars by 2020. This growth suggests ongoing or increasing capital investment in assets subject to depreciation and amortization within the core operations, reflecting expansion or renewal of asset base.
- Helix Segment
-
The Helix segment shows a different pattern characterized by initial growth followed by a decline. From 4 million US dollars in 2016, the expense rises to 6 million in both 2017 and 2018, indicating some expansion or heightened asset utilization. However, subsequently, there is a notable decrease to 3 million in 2019, and no reported data for 2020. The absence of data in 2020 potentially signifies divestment, integration into other segments, or discontinuation of the segment's reporting.
- Eliminations
-
The elimination entries present negative values starting in 2017, which become progressively smaller in magnitude from -3 million in 2017 to -1 million in 2019. These figures likely represent internal adjustments or inter-segment transactions that reduce the consolidated total. The narrowing of these negative amounts over time may reflect increasing efficiency in internal accounting or changing intra-company asset allocations. No data is reported for 2020.
- Consolidated Data
-
The consolidated depreciation and amortization expenses generally mirror the upward trend observed in the core segment, rising from 142 million US dollars in 2016 to a peak of 188 million in 2019, before a slight reduction to 187 million in 2020. This pattern indicates that the overall corporate expense in these categories has grown over time, primarily driven by the core segment's activity, with fluctuations influenced by segment eliminations and the Helix segment's performance.
Income (loss) from operations
Illumina Inc., income (loss) from operations by reportable segment
US$ in millions
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Core Illumina | |||||
| Helix | |||||
| Eliminations | |||||
| Consolidated |
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 annual reportable segment income (loss) from operations over the five-year period reveals distinct trends in the individual segments as well as the consolidated overall performance.
- Core Illumina Segment
- This segment displayed a generally positive trajectory from 2016 through 2019, with income rising from $684 million to $1,008 million. However, there was a notable decline in 2020, with income dropping sharply to $580 million. This reversal interrupts the preceding growth trend and indicates challenges or changes impacting this core business line during 2020.
- Helix Segment
- The Helix segment consistently operated at a loss throughout the four years it reported data. Losses deepened from $81 million in 2016 to a peak loss of $92 million in 2017, followed by a stabilization near $90 million in 2018. In 2019, the loss narrowed significantly to $24 million, indicating some operational improvement, although the segment did not generate positive income in the observed period. Data for 2020 is absent, leaving the recent performance unclear.
- Eliminations
- The elimination line items shifted from a negative figure of $16 million in 2016 to small positive values in 2017, 2018, and 2019, consistent with the purpose of removing intersegment transactions from consolidated results. The changes in these eliminations are relatively minor and do not notably influence overall consolidated income trends.
- Consolidated Income
- Consolidated income followed a pattern broadly reflecting that of the Core Illumina segment, increasing steadily from $587 million in 2016 to $985 million in 2019, then experiencing a sharp decrease to $580 million in 2020. This suggests that the overall decline in 2020 was driven principally by Core Illumina's performance rather than other segments. The consistency between consolidated and core segment trends highlights the dominant weight of the Core Illumina segment in the consolidated results.
In summary, the data indicates stable growth and improvement within the Core Illumina segment until 2019, followed by a pronounced downturn in 2020. The Helix segment showed persistent losses but signs of operational improvement by 2019. The elimination adjustments were minor and relatively stable. The consolidated results mirror the Core Illumina segment's trends, underscoring its significance to the company's overall income performance.
Total assets
Illumina Inc., total assets by reportable segment
US$ in millions
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Core Illumina | |||||
| Helix | |||||
| Eliminations | |||||
| Consolidated |
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).
- Core Illumina Total Assets
- The total assets for the Core Illumina segment show a consistent upward trend over the observed five-year period. Starting from $4,167 million at the end of 2016, the assets increased significantly to $5,223 million in 2017 and continued to grow, reaching $6,912 million in 2018. Growth persisted in 2019 and 2020, with totals of $7,316 million and $7,585 million, respectively. The rate of increase appears to slow somewhat in the latter years but remains positive.
- Helix Total Assets
- Helix segment total assets exhibit volatility during the recorded years. Beginning at $180 million in 2016, assets declined sharply to $45 million in 2017, then rebounded to $154 million in 2018. Data for 2019 and 2020 are not available, limiting further analysis of the segment's recent performance.
- Eliminations
- The eliminations row, reflecting intersegment asset adjustments, shows negative values that fluctuate across the years. The figure was -$66 million in 2016, improved to -$11 million in 2017, and worsened again to -$107 million in 2018. No data is available for subsequent years. These fluctuations suggest variability in internal asset reconciliations or transactions between segments.
- Consolidated Total Assets
- The consolidated total assets, representing the combined assets after eliminations, follow a similar upward trajectory as the Core Illumina segment. The amounts increased from $4,281 million in 2016 to $5,257 million in 2017, then experienced a substantial rise to $6,959 million in 2018. The consolidated assets further increased to $7,316 million in 2019 and to $7,585 million in 2020, indicating overall growth in the company's asset base despite the eliminations and some volatility in other segments.
Capital expenditures
Illumina Inc., capital expenditures by reportable segment
US$ in millions
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
|---|---|---|---|---|---|
| Core Illumina | |||||
| Helix | |||||
| Consolidated |
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 reportable segment capital expenditures over the five-year period reveals several notable trends and changes.
- Core Illumina Capital Expenditures
- The Core Illumina segment exhibited variability in capital expenditures from 2016 to 2020. Specifically, expenditures increased from $238 million in 2016 to a peak of $306 million in 2017. Following this peak, there was a decline in capital expenditures, falling to $294 million in 2018 and then experiencing a more pronounced decrease to $209 million in 2019. This downward trend continued in 2020 with expenditures reaching $189 million, the lowest level in the observed period. This pattern suggests an initial investment increase followed by sustained reductions over the last three years.
- Helix Capital Expenditures
- The Helix segment shows a markedly different trajectory, with lower capital expenditures overall and a decline in activity over time. Expenditures started at $22 million in 2016 but sharply dropped to $4 million in 2017 and further down to $2 million in 2018. There are no reported expenditures for 2019 and 2020, indicating a possible cessation or significant reduction of capital investment in this segment during these years.
- Consolidated Capital Expenditures
- The consolidated data, representing the total capital expenditures across segments, mirrors the overall trend observed in the Core Illumina segment, as this segment constitutes the bulk of total expenditures. The consolidated expenditures increase from $261 million in 2016 to $310 million in 2017, remain relatively stable at $296 million in 2018, then experience a substantial decline to $209 million in 2019 and further to $189 million in 2020. This downward trend from 2017 onward aligns with the reductions seen in the primary reporting segment.
In summary, capital expenditures peaked in 2017 and have exhibited a consistent decline through 2020. The Core Illumina segment drives these trends, as it represents the majority of capital investment. The Helix segment's expenditures have diminished nearly to zero by the end of the observed period. The overall decrease in consolidated capital expenditures may reflect strategic shifts, reduced investment requirements, or other operational considerations impacting capital budgeting decisions in recent years.