Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
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Historical Valuation Ratios (Summary)
Illumina Inc., historical price multiples (quarterly data)
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 financial ratios over the presented periods show notable fluctuations and trends across all metrics analyzed.
- Price to earnings (P/E) ratio
-
The P/E ratio was first reported at 52.01 and showed a decline to 36.92 and then a slight recovery to 38.75 and 38.26. It generally increased afterward, reaching a peak at 109.92 before declining again to 70.41 in the most recent period. This pattern indicates variable investor sentiment and earnings performance, with periods of both expansion and contraction in valuation relative to earnings.
There is a visible upward trend from 2018 to early 2021 with significant volatility, suggesting changing expectations about profitability or growth potential.
- Price to operating profit (P/OP) ratio
-
The P/OP ratio follows a somewhat similar trajectory as the P/E ratio, starting at 40.99, climbing to a high of 124.33, and then declining but remaining elevated at 108.07 by the last recorded quarter. This indicates that the price investors are willing to pay for each unit of operating profit increased overall, but with considerable fluctuations.
Such trends could reflect changes in operating efficiency, profit margins, or expectations of future operating performance.
- Price to sales (P/S) ratio
-
The P/S ratio shows a gradual increasing trend from 10.03 to a peak of 22.26, followed by a decline to 14.9. This suggests that the market valuation relative to sales has generally increased, indicating rising investor confidence in revenue growth or sales quality, but with some recent moderation.
The moderate volatility compared to earnings and operating profit ratios indicates a relatively steadier sales environment, with valuation adjustments more driven by profitability expectations.
- Price to book value (P/BV) ratio
-
The P/BV ratio presents a more fluctuating pattern, with values initially around 10.48 to 11.9, then a decline in late 2019 to below 10 at times, and a sharp rise to 15.36 before a significant drop to 6.02 in the latest period. This significant decrease at the end could indicate a perceived decrease in asset value or increased book value relative to market price, possibly signaling concerns in asset quality or market reassessment of equity value.
The volatility shows fluctuations in how the market values net assets, which might be impacted by changes in intangible assets, goodwill, or changes in equity structure.
Overall, the data highlights a period of volatility in valuation multiples, with notable peaks around 2020 to early 2021, followed by some corrections. The ratios suggest changing market expectations about earnings, operating profitability, and asset values that could be related to broader economic conditions or company-specific developments.
Price to Earnings (P/E)
Illumina Inc., historical P/E calculation (quarterly data)
| Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | Dec 31, 2017 | Oct 1, 2017 | Jul 2, 2017 | Apr 2, 2017 | Dec 31, 2016 | Oct 2, 2016 | Jul 3, 2016 | Apr 3, 2016 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Net income attributable to Illumina stockholders (in millions) | ||||||||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||||
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).
1 Data adjusted for splits and stock dividends.
2 Q3 2021 Calculation
EPS
= (Net income attributable to Illumina stockholdersQ3 2021
+ Net income attributable to Illumina stockholdersQ2 2021
+ Net income attributable to Illumina stockholdersQ1 2021
+ Net income attributable to Illumina stockholdersQ4 2020)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Illumina Inc. Quarterly or Annual Report.
4 Q3 2021 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the financial data reveals several noteworthy trends in the share price, earnings per share (EPS), and price-to-earnings (P/E) ratio over the provided periods.
- Share Price Trend
- The share price showed a generally upward trajectory from April 2016 to October 2021, with notable fluctuations. Starting at approximately $142 in April 2016, the share price increased steadily over the years, reaching peaks in mid-2018 (above $324), mid-2020 (near $356), and again in April and July 2021 exceeding $490 and $497 respectively. However, intermittent declines occurred, including significant drops after peak values, such as the decrease from $355.66 in June 2020 to $292.7 in September 2020, and from $497.24 in July 2021 to $408.14 in October 2021. This pattern suggests periods of strong investor confidence tempered by corrections or market adjustments.
- Earnings Per Share (EPS) Development
- EPS data commencing from April 2017 indicate a consistent positive trend in earnings capacity. Beginning at $3.16, EPS rose steadily, with some fluctuations, reaching a high of $6.82 in December 2019. Subsequently, EPS values exhibited moderate variability, declining somewhat in the early quarters of 2020 before recovering to $5.8 by October 2021. This progression points to improving profitability over the longer term with short-term volatility possibly related to market or operational conditions.
- P/E Ratio Analysis
- The P/E ratio demonstrates considerable variability across the time periods, reflecting changes in valuation relative to earnings. Starting at a ratio of approximately 52 in April 2017, it declined to under 37 by July 2017, then incrementally increased, peaking at around 110 in April 2021. This high valuation suggests that investors were willing to pay a premium during this time, possibly anticipating future growth. However, the elevated P/E is juxtaposed with the share price peaks and the fluctuations in EPS, indicating a degree of market optimism that may at times be disconnected from current earnings reality. The P/E ratios towards the latter part of the dataset remain substantially elevated compared to earlier periods, implying sustained high market expectations or relatively lower earnings growth rates compared to share price increases.
In summary, the data portray a company experiencing growth in share price and earnings over the medium term, with episodic volatility in both. The multiplication of the P/E ratio over time highlights shifting market sentiment, with investors potentially pricing in anticipated growth, yet also reflecting some periods of valuation stretch. The fluctuations in EPS and share price warrant attention as they may indicate varying operational performance or external influences on market perception.
Price to Operating Profit (P/OP)
Illumina Inc., historical P/OP calculation (quarterly data)
| Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | Dec 31, 2017 | Oct 1, 2017 | Jul 2, 2017 | Apr 2, 2017 | Dec 31, 2016 | Oct 2, 2016 | Jul 3, 2016 | Apr 3, 2016 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Income (loss) from operations (in millions) | ||||||||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||||
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).
1 Data adjusted for splits and stock dividends.
2 Q3 2021 Calculation
Operating profit per share
= (Income (loss) from operationsQ3 2021
+ Income (loss) from operationsQ2 2021
+ Income (loss) from operationsQ1 2021
+ Income (loss) from operationsQ4 2020)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Illumina Inc. Quarterly or Annual Report.
4 Q3 2021 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The share price demonstrated an overall upward trend from April 2016 through the end of 2021, with some volatility noted in certain quarters. Beginning at $141.76 in April 2016, the price increased steadily, reaching $324.36 in July 2018. Following this, fluctuations were observed with prices oscillating between approximately $290 and $314 through December 2019. A noticeable surge occurred in the first quarter of 2021, peaking at $497.24 in July 2021 before retreating to $408.14 by October 2021.
Operating profit per share (OPPS) data became available starting in the first quarter of 2017, where it began at $4.01. After a mild decline through the middle of 2017, it started to improve, reaching a peak of $6.7 in the first quarter of 2020. However, a gradual decrease followed, falling to $4.6 by the third quarter of 2021, with a significant negative dip to -$0.2 noted in the last quarter of the reported period.
The price to operating profit ratio (P/OP) reflected the market's valuation relative to profitability. Starting at a high ratio of 40.99 in the first quarter of 2017, it exhibited considerable variability, peaking at 124.33 in April 2021. Ratios generally trended between 40 and 60 during most periods, spiking dramatically in 2021. This increase suggests a rising market valuation not entirely supported by operating profits, which declined during the same timeframe.
In summary, share prices showed substantial growth with notable volatility, particularly in 2021. Operating profit per share improved until early 2020 before decreasing, with a notable operating loss in the final quarter. The P/OP ratio's sharp increase in 2021 indicates a disconnect between share valuation and underlying profitability, highlighting potential market optimism or other factors influencing price outside of operating earnings.
- Share Price Trends
- Consistent growth from 2016 to mid-2018, followed by fluctuations around the $290-$320 range, with a sharp rise in 2021 peaking near $500 before a partial retracement.
- Operating Profit Per Share
- Improved steadily from 2017 until early 2020; subsequently declined with a notable operating loss recorded at the end of the data period.
- Price to Operating Profit Ratio
- Generally ranged from 40 to 60, but spiked significantly in 2021, indicating elevated market valuation relative to operating profit.
Price to Sales (P/S)
Illumina Inc., historical P/S calculation (quarterly data)
| Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | Dec 31, 2017 | Oct 1, 2017 | Jul 2, 2017 | Apr 2, 2017 | Dec 31, 2016 | Oct 2, 2016 | Jul 3, 2016 | Apr 3, 2016 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Revenue (in millions) | ||||||||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||||
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).
1 Data adjusted for splits and stock dividends.
2 Q3 2021 Calculation
Sales per share
= (RevenueQ3 2021
+ RevenueQ2 2021
+ RevenueQ1 2021
+ RevenueQ4 2020)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Illumina Inc. Quarterly or Annual Report.
4 Q3 2021 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited notable volatility over the analyzed periods. Initially, it rose from $141.76 in April 2016 to a peak of $220.44 by December 2017. This was followed by a continued upward trend reaching its highest observed value of $494.24 in December 2020. Subsequently, the price showed fluctuations between $292.7 and $497.24, ending at $408.14 in October 2021. The overall pattern indicates substantial appreciation over the five-year horizon, with intermittent periods of correction.
- Sales per Share Trend
- Sales per share data begins from April 2017, showing a generally positive trajectory from $16.39 to $27.38 by October 2021. Growth was steady and incremental, with minor deceleration and slight declines around 2020, where the figure dropped from $24.19 in June 2020 to $22.18 in April 2021. However, the sales per share recovered afterward, reaching the highest value at the end of the period. This suggests consistent revenue expansion on a per-share basis notwithstanding some short-term fluctuations.
- Price-to-Sales (P/S) Ratio Analysis
- The P/S ratio mirrors the trends observed in share price and sales per share but with pronounced volatility. Starting at 10.03 in April 2017, the ratio surged to a peak of 15.5 in June 2020, indicating that share prices increased at a faster rate than sales during this period. Subsequently, it fluctuated significantly, reaching an all-time high of 22.26 in December 2020 before declining to 14.9 by October 2021. This variability suggests changing market sentiment and adjustments in valuation multiples, potentially reflecting shifts in investor expectations relative to revenue performance.
- Insights and Financial Implications
- The increasing sales per share indicate consistent operational growth, which generally supports rising share prices. The sharp rises and dips in the P/S ratio point to periods where the stock market may have anticipated higher growth or, alternatively, corrected overheated valuations. The peak P/S ratio in late 2020 aligns with the peak share price, suggesting that market valuation was particularly aggressive relative to revenue at that time. The subsequent moderation of the P/S ratio implies a normalization or reassessment of growth prospects. Overall, the data reflects a growth-oriented company that experienced significant market valuation shifts, likely influenced by external market conditions and investor sentiment.
Price to Book Value (P/BV)
Illumina Inc., historical P/BV calculation (quarterly data)
| Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | Dec 31, 2017 | Oct 1, 2017 | Jul 2, 2017 | Apr 2, 2017 | Dec 31, 2016 | Oct 2, 2016 | Jul 3, 2016 | Apr 3, 2016 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Total Illumina stockholders’ equity (in millions) | ||||||||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||||
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).
1 Data adjusted for splits and stock dividends.
2 Q3 2021 Calculation
BVPS = Total Illumina stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Illumina Inc. Quarterly or Annual Report.
4 Q3 2021 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the financial data over the reported periods reveals several notable trends concerning the share price, book value per share (BVPS), and price-to-book value (P/BV) ratio.
- Share Price
- The share price shows considerable fluctuation with an overall upward trend despite periodic declines. Starting at $141.76, the share price peaked at $494.24 in December 2020, which represents a significant increase. However, there are multiple instances of volatility; for example, a notable decrease occurred between July 2018 ($324.36) and September 2018 ($289.5), and again from June 2020 ($355.66) to September 2020 ($292.7). Toward the end of the series, the share price remains elevated relative to early values, ending at $408.14 in October 2021.
- Book Value Per Share (BVPS)
- BVPS exhibits a steady and consistent growth pattern across the periods. Beginning at $13.53, it increases to $67.77 by October 2021, indicating a substantial accumulation of book value over time. There are no significant reversals or declines, suggesting ongoing asset or equity growth supporting intrinsic value.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio demonstrates variability aligned with changes in share price relative to the steadily increasing BVPS. Initially, the ratio fluctuates between approximately 9.03 and 11.90 through the early and middle periods, indicating relatively stable market valuation relative to book value. Notably, the P/BV ratio reaches a peak of 15.36 in December 2020, corresponding with the highest share price. The data ends with a sharp decline in the P/BV ratio to 6.02, which is the lowest observed, despite BVPS continuing its upward trend. This suggests that while the intrinsic book value rose, the market valuation compressed relatively, possibly indicating market reevaluation or external influences on share price.
In summary, the company experienced strong growth in book value per share throughout the observed quarters, reflecting enhanced equity or asset base. The share price, while generally trending upward especially toward late 2020, is marked by volatility impacting the P/BV ratio trends. The divergence between the high book value and a significant drop in the P/BV ratio at the end warrants attention, as it may signal changing market perceptions or risks not captured by book value alone.