Adjusted Financial Ratios (Summary)
Adjusted Total Asset Turnover
Adjusted Current Ratio
Adjusted Debt to Equity
Adjusted Debt to Capital
Adjusted Financial Leverage
Adjusted Net Profit Margin
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Illumina Inc., adjusted financial ratios

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Activity Ratio
Total Asset Turnover
Reported	0.43	0.48	0.48	0.52	0.56
Adjusted	0.43	0.49	0.44	0.48	0.51
Liquidity Ratio
Current Ratio
Reported	3.60	6.69	2.49	3.99	3.29
Adjusted	3.61	6.70	2.49	4.00	3.30
Solvency Ratios
Debt to Equity
Reported	0.25	0.25	0.53	0.49	0.58
Adjusted	0.40	0.41	0.67	0.67	0.81
Debt to Capital
Reported	0.20	0.20	0.35	0.33	0.37
Adjusted	0.29	0.29	0.40	0.40	0.45
Financial Leverage
Reported	1.62	1.59	1.85	1.91	1.95
Adjusted	1.59	1.59	1.94	1.99	2.12
Profitability Ratios
Net Profit Margin
Reported	20.25%	28.28%	24.78%	26.38%	19.29%
Adjusted	23.80%	28.11%	22.95%	25.98%	17.77%
Return on Equity (ROE)
Reported	13.98%	21.72%	21.98%	26.41%	21.06%
Adjusted	16.18%	21.81%	19.83%	24.65%	19.29%
Return on Assets (ROA)
Reported	8.65%	13.70%	11.87%	13.81%	10.81%
Adjusted	10.19%	13.73%	10.21%	12.38%	9.10%

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).

Financial ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Illumina Inc. adjusted total asset turnover ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Illumina Inc. adjusted current ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level.
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Illumina Inc. adjusted debt-to-equity ratio improved from 2018 to 2019 and from 2019 to 2020.
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Illumina Inc. adjusted debt-to-capital ratio improved from 2018 to 2019 and from 2019 to 2020.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Illumina Inc. adjusted financial leverage ratio decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Illumina Inc. adjusted net profit margin ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	Illumina Inc. adjusted ROE improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Illumina Inc. adjusted ROA improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Illumina Inc., Financial Ratios: Reported vs. Adjusted

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	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Reported
Selected Financial Data (US$ in millions)
Revenue	3,239)	3,543)	3,333)	2,752)	2,398)
Total assets	7,585)	7,316)	6,959)	5,257)	4,281)
Activity Ratio
Total asset turnover¹	0.43	0.48	0.48	0.52	0.56
Adjusted
Selected Financial Data (US$ in millions)
Revenue	3,239)	3,543)	3,333)	2,752)	2,398)
Adjusted total assets²	7,569)	7,254)	7,493)	5,776)	4,685)
Activity Ratio
Adjusted total asset turnover³	0.43	0.49	0.44	0.48	0.51

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
Total asset turnover = Revenue ÷ Total assets
= 3,239 ÷ 7,585 = 0.43

² Adjusted total assets. See details »

³ 2020 Calculation
Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= 3,239 ÷ 7,569 = 0.43

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Illumina Inc. adjusted total asset turnover ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Reported
Selected Financial Data (US$ in millions)
Current assets	4,483)	4,451)	4,490)	2,980)	2,318)
Current liabilities	1,244)	665)	1,804)	746)	705)
Liquidity Ratio
Current ratio¹	3.60	6.69	2.49	3.99	3.29
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets²	4,487)	4,453)	4,492)	2,983)	2,322)
Current liabilities	1,244)	665)	1,804)	746)	705)
Liquidity Ratio
Adjusted current ratio³	3.61	6.70	2.49	4.00	3.30

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
Current ratio = Current assets ÷ Current liabilities
= 4,483 ÷ 1,244 = 3.60

² Adjusted current assets. See details »

³ 2020 Calculation
Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= 4,487 ÷ 1,244 = 3.61

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Liquidity ratio	Description	The company
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Illumina Inc. adjusted current ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level.

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Reported
Selected Financial Data (US$ in millions)
Total debt	1,184)	1,141)	1,997)	1,336)	1,272)
Total Illumina stockholders’ equity	4,694)	4,613)	3,758)	2,749)	2,197)
Solvency Ratio
Debt to equity¹	0.25	0.25	0.53	0.49	0.58
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	1,906)	1,881)	2,599)	1,940)	1,795)
Adjusted total stockholders’ equity³	4,764)	4,566)	3,857)	2,901)	2,209)
Solvency Ratio
Adjusted debt to equity⁴	0.40	0.41	0.67	0.67	0.81

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
Debt to equity = Total debt ÷ Total Illumina stockholders’ equity
= 1,184 ÷ 4,694 = 0.25

² Adjusted total debt. See details »

³ Adjusted total stockholders’ equity. See details »

⁴ 2020 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total stockholders’ equity
= 1,906 ÷ 4,764 = 0.40

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Solvency ratio	Description	The company
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Illumina Inc. adjusted debt-to-equity ratio improved from 2018 to 2019 and from 2019 to 2020.

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Reported
Selected Financial Data (US$ in millions)
Total debt	1,184)	1,141)	1,997)	1,336)	1,272)
Total capital	5,878)	5,754)	5,755)	4,085)	3,469)
Solvency Ratio
Debt to capital¹	0.20	0.20	0.35	0.33	0.37
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	1,906)	1,881)	2,599)	1,940)	1,795)
Adjusted total capital³	6,670)	6,447)	6,456)	4,841)	4,004)
Solvency Ratio
Adjusted debt to capital⁴	0.29	0.29	0.40	0.40	0.45

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
Debt to capital = Total debt ÷ Total capital
= 1,184 ÷ 5,878 = 0.20

² Adjusted total debt. See details »

³ Adjusted total capital. See details »

⁴ 2020 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 1,906 ÷ 6,670 = 0.29

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Solvency ratio	Description	The company
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Illumina Inc. adjusted debt-to-capital ratio improved from 2018 to 2019 and from 2019 to 2020.

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Reported
Selected Financial Data (US$ in millions)
Total assets	7,585)	7,316)	6,959)	5,257)	4,281)
Total Illumina stockholders’ equity	4,694)	4,613)	3,758)	2,749)	2,197)
Solvency Ratio
Financial leverage¹	1.62	1.59	1.85	1.91	1.95
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets²	7,569)	7,254)	7,493)	5,776)	4,685)
Adjusted total stockholders’ equity³	4,764)	4,566)	3,857)	2,901)	2,209)
Solvency Ratio
Adjusted financial leverage⁴	1.59	1.59	1.94	1.99	2.12

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
Financial leverage = Total assets ÷ Total Illumina stockholders’ equity
= 7,585 ÷ 4,694 = 1.62

² Adjusted total assets. See details »

³ Adjusted total stockholders’ equity. See details »

⁴ 2020 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total stockholders’ equity
= 7,569 ÷ 4,764 = 1.59

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Illumina Inc. adjusted financial leverage ratio decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Illumina stockholders	656)	1,002)	826)	726)	463)
Revenue	3,239)	3,543)	3,333)	2,752)	2,398)
Profitability Ratio
Net profit margin¹	20.25%	28.28%	24.78%	26.38%	19.29%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted consolidated net income²	771)	996)	765)	715)	426)
Revenue	3,239)	3,543)	3,333)	2,752)	2,398)
Profitability Ratio
Adjusted net profit margin³	23.80%	28.11%	22.95%	25.98%	17.77%

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
Net profit margin = 100 × Net income attributable to Illumina stockholders ÷ Revenue
= 100 × 656 ÷ 3,239 = 20.25%

² Adjusted consolidated net income. See details »

³ 2020 Calculation
Adjusted net profit margin = 100 × Adjusted consolidated net income ÷ Revenue
= 100 × 771 ÷ 3,239 = 23.80%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Illumina Inc. adjusted net profit margin ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level.

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Illumina stockholders	656)	1,002)	826)	726)	463)
Total Illumina stockholders’ equity	4,694)	4,613)	3,758)	2,749)	2,197)
Profitability Ratio
ROE¹	13.98%	21.72%	21.98%	26.41%	21.06%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted consolidated net income²	771)	996)	765)	715)	426)
Adjusted total stockholders’ equity³	4,764)	4,566)	3,857)	2,901)	2,209)
Profitability Ratio
Adjusted ROE⁴	16.18%	21.81%	19.83%	24.65%	19.29%

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
ROE = 100 × Net income attributable to Illumina stockholders ÷ Total Illumina stockholders’ equity
= 100 × 656 ÷ 4,694 = 13.98%

² Adjusted consolidated net income. See details »

³ Adjusted total stockholders’ equity. See details »

⁴ 2020 Calculation
Adjusted ROE = 100 × Adjusted consolidated net income ÷ Adjusted total stockholders’ equity
= 100 × 771 ÷ 4,764 = 16.18%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	Illumina Inc. adjusted ROE improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Illumina stockholders	656)	1,002)	826)	726)	463)
Total assets	7,585)	7,316)	6,959)	5,257)	4,281)
Profitability Ratio
ROA¹	8.65%	13.70%	11.87%	13.81%	10.81%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted consolidated net income²	771)	996)	765)	715)	426)
Adjusted total assets³	7,569)	7,254)	7,493)	5,776)	4,685)
Profitability Ratio
Adjusted ROA⁴	10.19%	13.73%	10.21%	12.38%	9.10%

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
ROA = 100 × Net income attributable to Illumina stockholders ÷ Total assets
= 100 × 656 ÷ 7,585 = 8.65%

² Adjusted consolidated net income. See details »

³ Adjusted total assets. See details »

⁴ 2020 Calculation
Adjusted ROA = 100 × Adjusted consolidated net income ÷ Adjusted total assets
= 100 × 771 ÷ 7,569 = 10.19%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Illumina Inc. adjusted ROA improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Illumina Inc. (NASDAQ:ILMN)

Adjusted Financial Ratios

Adjusted Financial Ratios (Summary)

Illumina Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Adjusted Current Ratio

Adjusted Debt to Equity

Adjusted Debt to Capital

Adjusted Financial Leverage

Adjusted Net Profit Margin

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)