Enterprise Value to FCFF (EV/FCFF)
Free Cash Flow to The Firm (FCFF)
Illumina Inc., FCFF calculation
US$ in millions
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).
| Item | Description | The company |
|---|---|---|
| FCFF | Free cash flow to the firm is the cash flow available to the Illumina Inc. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Illumina Inc. FCFF decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level. |
Interest Paid, Net of Tax
Illumina Inc., interest paid, net of tax calculation
US$ in millions
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).
2 2020 Calculation
Cash paid for interest, tax = Cash paid for interest × EITR
= 0 × 23.36% = 0
Enterprise Value to FCFF Ratio, Current
Illumina Inc., current EV/FCFF calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | 61,504) |
| Free cash flow to the firm (FCFF) | 891) |
| Valuation Ratio | |
| EV/FCFF | 69.03 |
| Benchmarks | |
| EV/FCFF, Competitors1 | |
| AbbVie Inc. | 14.30 |
| Amgen Inc. | 22.15 |
| Bristol-Myers Squibb Co. | 10.51 |
| Danaher Corp. | 33.21 |
| Eli Lilly & Co. | 661.15 |
| Gilead Sciences Inc. | 15.72 |
| Johnson & Johnson | 18.87 |
| Merck & Co. Inc. | 29.32 |
| Moderna Inc. | — |
| Pfizer Inc. | 30.11 |
| Regeneron Pharmaceuticals Inc. | 18.65 |
| Thermo Fisher Scientific Inc. | 26.75 |
| EV/FCFF, Sector | |
| Pharmaceuticals, Biotechnology & Life Sciences | 25.61 |
| EV/FCFF, Industry | |
| Health Care | 22.85 |
Based on: 10-K (reporting date: 2020-12-31).
1 Click competitor name to see calculations.
If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.
Enterprise Value to FCFF Ratio, Historical
Illumina Inc., historical EV/FCFF calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Enterprise value (EV)1 | 69,822) | 41,239) | 41,525) | 31,596) | 23,847) | |
| Free cash flow to the firm (FCFF)2 | 891) | 842) | 846) | 565) | 427) | |
| Valuation Ratio | ||||||
| EV/FCFF3 | 78.36 | 48.98 | 49.08 | 55.92 | 55.80 | |
| Benchmarks | ||||||
| EV/FCFF, Competitors4 | ||||||
| AbbVie Inc. | 13.95 | 11.60 | — | — | — | |
| Amgen Inc. | 14.51 | 16.05 | — | — | — | |
| Bristol-Myers Squibb Co. | 11.63 | 23.39 | — | — | — | |
| Danaher Corp. | 30.66 | 37.11 | — | — | — | |
| Eli Lilly & Co. | 39.01 | 36.26 | — | — | — | |
| Gilead Sciences Inc. | 13.60 | 9.78 | — | — | — | |
| Johnson & Johnson | 20.75 | 19.31 | — | — | — | |
| Merck & Co. Inc. | 34.12 | 20.46 | — | — | — | |
| Moderna Inc. | 29.20 | — | — | — | — | |
| Pfizer Inc. | 21.74 | 19.44 | — | — | — | |
| Regeneron Pharmaceuticals Inc. | 25.74 | 19.54 | — | — | — | |
| Thermo Fisher Scientific Inc. | 26.14 | 28.88 | — | — | — | |
| EV/FCFF, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 20.02 | 19.33 | — | — | — | |
| EV/FCFF, Industry | ||||||
| Health Care | 17.93 | 18.26 | — | — | — | |
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).
3 2020 Calculation
EV/FCFF = EV ÷ FCFF
= 69,822 ÷ 891 = 78.36
4 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| EV/FCFF | Enterprise value to free cash flow to the firm is whole company valuation indicator. | Illumina Inc. EV/FCFF ratio decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level. |