Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Illumina Inc., long-term (investment) activity ratios (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).
- Net Fixed Asset Turnover
-
The net fixed asset turnover ratio is available starting from the quarter ending December 31, 2016. Initially, the ratio stands at 3.36 and shows a slight downward trend reaching 2.96 by April 1, 2018. Subsequently, it fluctuates mildly, increasing to a peak of 4.00 by March 29, 2020, followed by a moderate decline and then recovering to 4.33 by April 4, 2021. The data implies an overall improvement in asset utilization over the observed periods, despite some short-term volatility.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
-
This ratio closely follows the standard net fixed asset turnover initially, with values identical through December 30, 2018. However, from March 31, 2019 onwards, the ratio declines noticeably from 2.38 to a low of 2.23 by September 27, 2020. A slight recovery is observed thereafter, reaching 2.68 by April 4, 2021. This suggests that when incorporating operating lease assets, the turnover efficiency diminishes and exhibits a generally declining trend, with a modest rebound in the most recent quarters.
- Total Asset Turnover
-
Total asset turnover data begins in the quarter ending December 31, 2016, with an initial ratio of 0.56. Over time, this ratio generally decreases, reaching as low as 0.28 by October 3, 2021. There are minor fluctuations, but the overall movement indicates a decline in the efficiency of utilizing total assets to generate sales. This downward trajectory suggests a reduction in asset productivity or a possible increase in asset base outpacing revenue growth.
- Equity Turnover
-
The equity turnover ratio shows a clear declining trend from an initial value of 1.09 at the end of 2016 to 0.40 by the quarter ending October 3, 2021. There are gradual decrements each quarter with no significant reversals. This persistent decline indicates decreasing efficiency in generating sales from shareholders' equity, possibly pointing to increased equity or a slower growth in sales relative to equity.
Net Fixed Asset Turnover
Illumina Inc., net fixed asset turnover 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Revenue | 1,108) | 1,126) | 1,093) | 953) | 794) | 633) | 859) | 952) | 907) | 838) | 846) | 868) | 853) | 830) | 782) | 778) | 714) | 662) | 598) | 619) | 607) | 600) | 572) | |||||||
| Property and equipment, net | 1,009) | 915) | 915) | 922) | 910) | 890) | 890) | 889) | 875) | 854) | 852) | 1,075) | 1,060) | 1,036) | 983) | 931) | 862) | 837) | 734) | 713) | 634) | 511) | 385) | |||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Net fixed asset turnover1 | 4.24 | 4.33 | 3.80 | 3.51 | 3.56 | 3.77 | 4.00 | 3.99 | 3.95 | 3.99 | 3.99 | 3.10 | 3.06 | 3.00 | 2.99 | 2.96 | 3.01 | 2.97 | 3.30 | 3.36 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 10.75 | 10.41 | 9.67 | 8.73 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Amgen Inc. | 4.89 | 4.92 | 4.93 | 4.96 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 7.75 | 7.66 | 7.43 | 7.22 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | 7.71 | 7.84 | 7.59 | 6.83 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Eli Lilly & Co. | 3.11 | 3.02 | 2.95 | 2.83 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Gilead Sciences Inc. | 5.40 | 5.27 | 5.06 | 4.90 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Johnson & Johnson | 4.95 | 4.79 | 4.59 | 4.40 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Merck & Co. Inc. | 2.57 | 2.61 | 2.55 | 2.67 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 4.79 | 3.89 | 3.31 | 3.01 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 3.99 | 3.69 | 2.82 | 2.64 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 5.54 | 5.83 | 5.85 | 5.45 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Vertex Pharmaceuticals Inc. | 6.84 | 6.54 | 6.51 | 6.47 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
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 Q3 2021 Calculation
Net fixed asset turnover
= (RevenueQ3 2021
+ RevenueQ2 2021
+ RevenueQ1 2021
+ RevenueQ4 2020)
÷ Property and equipment, net
= (1,108 + 1,126 + 1,093 + 953)
÷ 1,009 = 4.24
2 Click competitor name to see calculations.
- Revenue Trends
- Revenue demonstrated a general upward trajectory from April 2016 through October 2021, rising from $572 million to a peak of $1,126 million in July 2021. The quarterly figures show consistent growth, with occasional minor fluctuations. Notably, the revenue increased significantly between mid-2020 and mid-2021, recovering from a dip in the second quarter of 2020. The most pronounced growth occurred from Q1 2021 to Q3 2021, suggesting an acceleration in sales or service demand during that period.
- Property and Equipment, Net
- The net value of property and equipment steadily increased from $385 million in April 2016 to $1,009 million by October 2021. There are consistent increments each quarter, indicating ongoing capital investment or asset acquisition over the years. A slight decline or plateau appears around the first and second quarters of 2019, but the upward trend resumed thereafter. This growth in assets aligns with the increase in revenue, implying capacity expansion or modernization of fixed assets.
- Net Fixed Asset Turnover Ratio
- The ratio, indicative of how efficiently fixed assets generate revenue, fluctuated within the range of approximately 2.96 to 4.33. Starting near 3.3 in late 2016, the turnover ratio experienced minor variations but generally trended upward, reaching its highest levels above 4 in 2021. This suggests improved efficiency in utilizing fixed assets to generate sales over time, signifying better management or higher operational leverage. A noticeable improvement is observed from 2019 onward, with consistently higher ratios compared to earlier periods.
- Summary of Insights
- Across the observed periods, there is clear evidence of growth in both revenue and fixed assets, underpinned by increasing efficiency in asset utilization as reflected by the rising net fixed asset turnover ratio. The period around mid-2020 shows a temporary revenue contraction followed by a robust rebound, coinciding with maintained or slightly increased asset levels. This indicates resilience and potential strategic investments that supported recovery and expansion.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Illumina Inc., net fixed asset turnover (including operating lease, right-of-use asset) 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Revenue | 1,108) | 1,126) | 1,093) | 953) | 794) | 633) | 859) | 952) | 907) | 838) | 846) | 868) | 853) | 830) | 782) | 778) | 714) | 662) | 598) | 619) | 607) | 600) | 572) | |||||||
| Property and equipment, net | 1,009) | 915) | 915) | 922) | 910) | 890) | 890) | 889) | 875) | 854) | 852) | 1,075) | 1,060) | 1,036) | 983) | 931) | 862) | 837) | 734) | 713) | 634) | 511) | 385) | |||||||
| Operating lease right-of-use assets | 676) | 566) | 529) | 532) | 545) | 549) | 559) | 555) | 555) | 558) | 574) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | |||||||
| Property and equipment, net (including operating lease, right-of-use asset) | 1,685) | 1,481) | 1,444) | 1,454) | 1,455) | 1,439) | 1,449) | 1,444) | 1,430) | 1,412) | 1,426) | 1,075) | 1,060) | 1,036) | 983) | 931) | 862) | 837) | 734) | 713) | 634) | 511) | 385) | |||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 2.54 | 2.68 | 2.41 | 2.23 | 2.23 | 2.33 | 2.45 | 2.45 | 2.42 | 2.41 | 2.38 | 3.10 | 3.06 | 3.00 | 2.99 | 2.96 | 3.01 | 2.97 | 3.30 | 3.36 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||||||||||||||||||||||||||
| Vertex Pharmaceuticals Inc. | 5.26 | 4.99 | 4.90 | 4.83 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
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 Q3 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (RevenueQ3 2021
+ RevenueQ2 2021
+ RevenueQ1 2021
+ RevenueQ4 2020)
÷ Property and equipment, net (including operating lease, right-of-use asset)
= (1,108 + 1,126 + 1,093 + 953)
÷ 1,685 = 2.54
2 Click competitor name to see calculations.
- Revenue Trends
- Revenue exhibited a general upward trend from April 2016 through October 2021, starting at $572 million and rising to a peak of $1,126 million in July 2021. There were periods of moderate growth interspersed with occasional declines, such as the drop observed in the first half of 2020, likely influenced by market conditions during that timeframe. Despite fluctuations, the overall trajectory indicates consistent revenue expansion over the analyzed periods.
- Property and Equipment, Net
- The net value of property and equipment, including operating lease right-of-use assets, showed a steady increase throughout the periods, starting at $385 million in April 2016 and growing to $1,685 million by October 2021. This reflects significant capital investment and asset growth over time. The increase was relatively consistent, with notable jumps around early 2019 and sustained growth thereafter, suggesting ongoing expansion of fixed assets.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio demonstrated a declining trend over the observed periods. Initially, it was approximately 3.36 in December 2016, followed by fluctuations but generally trending downward to values around 2.54 by October 2021. This decline indicates that while property and equipment assets increased significantly, revenue growth did not keep pace at the same rate relative to asset growth, suggesting a decrease in asset utilization efficiency.
- Integrated Analysis
- The combined data reveals that capital assets expanded substantially over the analysis period, with property and equipment net value more than quadrupling. Although revenues increased concurrently, the slower growth in revenue relative to the asset base contributed to the reduction in fixed asset turnover ratio. This may indicate that the company is investing heavily in fixed assets ahead of realizing proportional revenue gains, possibly in anticipation of future growth or capacity enhancements. Additionally, the dip in revenue in early 2020, followed by recovery, may reflect external challenges and their impact on operational performance.
Total Asset Turnover
Illumina Inc., total asset turnover 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Revenue | 1,108) | 1,126) | 1,093) | 953) | 794) | 633) | 859) | 952) | 907) | 838) | 846) | 868) | 853) | 830) | 782) | 778) | 714) | 662) | 598) | 619) | 607) | 600) | 572) | |||||||
| Total assets | 15,063) | 8,675) | 8,755) | 7,585) | 7,404) | 7,248) | 7,261) | 7,316) | 7,089) | 6,973) | 7,390) | 6,959) | 6,759) | 5,851) | 5,542) | 5,257) | 5,046) | 4,858) | 4,598) | 4,281) | 4,228) | 3,985) | 3,794) | |||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Total asset turnover1 | 0.28 | 0.46 | 0.40 | 0.43 | 0.44 | 0.46 | 0.49 | 0.48 | 0.49 | 0.49 | 0.46 | 0.48 | 0.48 | 0.53 | 0.53 | 0.52 | 0.51 | 0.51 | 0.53 | 0.56 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 0.37 | 0.36 | 0.33 | 0.30 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Amgen Inc. | 0.37 | 0.40 | 0.38 | 0.39 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 0.41 | 0.40 | 0.38 | 0.36 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | 0.34 | 0.34 | 0.33 | 0.29 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Eli Lilly & Co. | 0.58 | 0.56 | 0.54 | 0.53 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Gilead Sciences Inc. | 0.41 | 0.39 | 0.37 | 0.36 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Johnson & Johnson | 0.51 | 0.51 | 0.49 | 0.47 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Merck & Co. Inc. | 0.51 | 0.52 | 0.51 | 0.52 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 0.39 | 0.33 | 0.29 | 0.27 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 0.57 | 0.58 | 0.52 | 0.50 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 0.53 | 0.57 | 0.54 | 0.47 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Vertex Pharmaceuticals Inc. | 0.57 | 0.55 | 0.53 | 0.53 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
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 Q3 2021 Calculation
Total asset turnover
= (RevenueQ3 2021
+ RevenueQ2 2021
+ RevenueQ1 2021
+ RevenueQ4 2020)
÷ Total assets
= (1,108 + 1,126 + 1,093 + 953)
÷ 15,063 = 0.28
2 Click competitor name to see calculations.
The revenue figures demonstrate a general upward trend over the observed periods, increasing from $572 million in April 2016 to a peak of $1,126 million in July 2021 before slightly declining to $1,108 million in October 2021. This indicates steady growth, with occasional fluctuations that may reflect seasonal variations or market conditions. Notably, there is a dip in revenue in mid-2020, which could be indicative of external economic pressures impacting sales during that timeframe.
Total assets have also shown a substantial increase throughout the reporting periods. Beginning at $3,794 million in April 2016, total assets gradually grew to $8,675 million by October 2021. This consistent growth suggests ongoing investment in the company's asset base and potentially expanding operational capacity or strategic acquisitions. A significant surge is observed in the final data point, reaching $15,063 million, indicating a major increase or revaluation of assets in that period.
The total asset turnover ratio, which measures the efficiency of using assets to generate revenue, reveals a declining trend over time. Starting around 0.56 in late 2016, the ratio gradually decreases to 0.28 by October 2021. This downward movement suggests that, despite increasing revenue and total assets, the company is generating less revenue per unit of asset value over time. The decline implies a reduced efficiency or possibly a shift toward more asset-intensive operations that generate relatively lower immediate revenue.
- Revenue Trends
- Steady growth overall with a peak in mid-2021 followed by a slight decline. Possible seasonal or market fluctuations and a notable dip during mid-2020.
- Total Assets Growth
- Consistent increase from 2016 to 2021, with a dramatic jump in the last period observed, indicating significant asset expansion or revaluation.
- Total Asset Turnover Ratio
- Gradual decrease over the periods, reflecting diminishing efficiency in asset utilization to generate revenue, potentially linked to increased asset base or changing operational models.
Equity Turnover
Illumina Inc., equity turnover calculation (quarterly data)
| Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | Dec 31, 2017 | Oct 1, 2017 | Jul 2, 2017 | Apr 2, 2017 | Dec 31, 2016 | Oct 2, 2016 | Jul 3, 2016 | Apr 3, 2016 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Revenue | 1,108) | 1,126) | 1,093) | 953) | 794) | 633) | 859) | 952) | 907) | 838) | 846) | 868) | 853) | 830) | 782) | 778) | 714) | 662) | 598) | 619) | 607) | 600) | 572) | |||||||
| Total Illumina stockholders’ equity | 10,593) | 5,180) | 4,922) | 4,694) | 4,700) | 4,563) | 4,635) | 4,613) | 4,439) | 4,332) | 3,985) | 3,758) | 3,503) | 3,257) | 3,008) | 2,749) | 2,855) | 2,715) | 2,551) | 2,197) | 2,240) | 2,056) | 1,991) | |||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Equity turnover1 | 0.40 | 0.77 | 0.71 | 0.69 | 0.69 | 0.73 | 0.77 | 0.77 | 0.78 | 0.79 | 0.85 | 0.89 | 0.93 | 0.95 | 0.98 | 1.00 | 0.91 | 0.92 | 0.95 | 1.09 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 4.07 | 4.27 | 3.66 | 3.50 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Amgen Inc. | 2.96 | 2.93 | 2.56 | 2.58 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 1.22 | 1.21 | 1.14 | 1.12 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | 0.65 | 0.62 | 0.61 | 0.56 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Eli Lilly & Co. | 3.58 | 4.15 | 3.69 | 4.35 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Gilead Sciences Inc. | 1.27 | 1.34 | 1.33 | 1.34 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Johnson & Johnson | 1.30 | 1.28 | 1.28 | 1.31 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Merck & Co. Inc. | 1.33 | 1.41 | 1.73 | 1.90 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 0.91 | 0.79 | 0.68 | 0.66 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 0.78 | 0.82 | 0.77 | 0.77 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 1.01 | 1.04 | 1.02 | 0.93 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Vertex Pharmaceuticals Inc. | 0.75 | 0.73 | 0.71 | 0.71 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
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 Q3 2021 Calculation
Equity turnover
= (RevenueQ3 2021
+ RevenueQ2 2021
+ RevenueQ1 2021
+ RevenueQ4 2020)
÷ Total Illumina stockholders’ equity
= (1,108 + 1,126 + 1,093 + 953)
÷ 10,593 = 0.40
2 Click competitor name to see calculations.
The revenue of the company demonstrates a generally positive trend over the analyzed quarterly periods, with certain fluctuations. Starting at $572 million in April 2016, revenue increased steadily, peaking above $1 billion in the early quarters of 2021. This growth highlights an overall expansion in business activity over the medium term. However, some volatility is evident around mid-2020 with a notable dip to $633 million, likely attributable to external economic conditions impacting performance during that period. Subsequently, revenue recovered strongly, reaching a high point of $1,126 million by July 2021, then slightly tapering to $1,108 million in the last quarter reported.
Total stockholders’ equity exhibits a sustained upward trajectory throughout the period, indicating strengthening equity capital and potentially retained earnings growth or positive revaluation effects. Beginning at approximately $1.99 billion in April 2016, it progresses consistently to a substantial increase, peaking at about $10.6 billion by October 2021. This sharp rise in the final quarter signals a significant equity event or adjustment, which might correspond to an additional capital infusion, stock issuance, or revaluation gains. Before this surge, equity growth appeared moderate but steady, reflecting stable financial health and investor confidence.
The equity turnover ratio, available from the end of 2016, reveals a declining pattern over time. Initially close to or slightly above 1.0, the ratio gradually decreased to a low point of 0.4 by October 2021. This downward trend suggests that the company generated less revenue per unit of equity as time progressed, possibly indicating an increase in equity base outpacing revenue growth or a shift in the company’s capital utilization efficiency. The decline may also suggest more conservative financial management or capital structure changes that affect leverage and asset utilization.
In summary, the company's financial data over the reviewed quarters shows robust revenue growth interrupted by a mid-cycle dip, steady expansion of shareholder equity culminating in a marked increase late in the period, and a decreasing trend in equity turnover ratio, which points to evolving dynamics in capital efficiency and financial structure that warrant consideration for strategic planning and performance evaluation.