Loading institutional data...
Loading institutional data...
Held by 805 of 5,944 reporting institutions (98th percentile) — extremely crowded.
Data as of Q1 2026
Loading snapshot...
Loading financials...
Loading valuation...
Loading quality & risk...
Loading dividends & returns...
Loading capital allocation...
Loading debt & leverage...
Loading performance...
Loading peer comparison...
Loading ownership map...
Loading crowding analysis...
Loading conviction analysis...
Loading buy/sell flow...
Loading ownership trends...
Loading top holders...
Loading top holders...
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $245.18 today, the market must believe free cash flow compounds 22.4%/yr for a decade (off $641M normalized FCF).
The market's 22.4% is more optimistic than its 9-yr track record.
2-stage DCF · 0.15B shares · net debt $0
mean 31.3% · volatility σ 82% · implied rate exceeded in 4/9 yrs
Central path = implied 22.4%/yr growth; shaded band = ±1σ (82%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.34B 100.0% | $4.37B 100.0% | $4.50B 100.0% | $4.58B 100.0% | $4.53B 100.0% | $3.24B 100.0% | $3.54B 100.0% | $3.33B 100.0% | $2.75B 100.0% | $2.40B 100.0% |
| Cost of Revenue | $1.47B 33.9% | $1.51B 34.6% | $1.76B 39.1% | $1.61B 35.2% | $1.37B 30.3% | $1.04B 32.0% | $1.08B 30.4% | $1.03B 31.0% | $926.0M 33.6% | $732.0M 30.5% |
| Cost of Products | — | — | — | — | — | — | — | — | $679.0M 24.7% | $534.0M 22.3% |
| Cost of Services | — | — | — | — | — | — | — | — | $208.0M 7.6% | $155.0M 6.5% |
| Gross Profit | $2.87B 66.1% | $2.86B 65.4% | $2.74B 60.9% | $2.97B 64.8% | $3.15B 69.7% | $2.20B 68.0% | $2.47B 69.6% | $2.30B 69.0% | $1.83B 66.4% | $1.67B 69.5% |
| Research & Development | $967.0M 22.3% | $1.17B 26.7% | $1.35B 30.1% | $1.32B 28.8% | $1.19B 26.2% | $682.0M 21.1% | $647.0M 18.3% | $623.0M 18.7% | $546.0M 19.8% | $504.0M 21.0% |
| Selling, General & Admin | $1.09B 25.0% | $1.09B 25.0% | $1.61B 35.8% | $1.30B 28.3% | $2.09B 46.2% | $941.0M 29.1% | $835.0M 23.6% | $794.0M 23.8% | $674.0M 24.5% | $584.0M 24.4% |
| Total Operating Expenses | $2.06B 47.5% | $3.69B 84.5% | $3.81B 84.7% | $7.15B 156.0% | $3.28B 72.4% | $1.62B 50.1% | $1.48B 41.8% | $1.42B 42.5% | $1.22B 44.3% | $1.08B 45.0% |
| Operating Income | $807.0M 18.6% | -$833.0M -19.1% | -$1.07B -23.7% | -$4.18B -91.2% | -$123.0M -2.7% | $580.0M 17.9% | $985.0M 27.8% | $883.0M 26.5% | $606.0M 22.0% | $587.0M 24.5% |
| Interest Expense | $101.0M 2.3% | $100.0M 2.3% | $77.0M 1.7% | $26.0M 0.6% | $61.0M 1.3% | $49.0M 1.5% | $52.0M 1.5% | $57.0M 1.7% | $37.0M 1.3% | $33.0M 1.4% |
| Interest & Investment Income | $40.0M 0.9% | $46.0M 1.1% | $58.0M 1.3% | $11.0M 0.2% | $0 0.0% | $41.0M 1.3% | $75.0M 2.1% | $44.0M 1.3% | $19.0M 0.7% | $10.0M 0.4% |
| Other Income (Expense), net | $279.0M 6.4% | -$346.0M -7.9% | -$48.0M -1.1% | -$157.0M -3.4% | $1.01B 22.2% | $276.0M 8.5% | $133.0M 3.8% | $11.0M 0.3% | $437.0M 15.9% | -$26.0M -1.1% |
| Pretax Income | $1.09B 25.0% | -$1.18B -27.0% | -$1.12B -24.8% | -$4.34B -94.6% | $884.0M 19.5% | $856.0M 26.4% | $1.12B 31.6% | $894.0M 26.8% | $1.04B 37.9% | $561.0M 23.4% |
| Income Tax Expense | $236.0M 5.4% | $44.0M 1.0% | $44.0M 1.0% | $68.0M 1.5% | $122.0M 2.7% | $200.0M 6.2% | $128.0M 3.6% | $112.0M 3.4% | $365.0M 13.3% | $133.0M 5.5% |
| Net Income | $850.0M 19.6% | -$1.22B -28.0% | -$1.16B -25.8% | -$4.40B -96.1% | $762.0M 16.8% | $656.0M 20.3% | $1.00B 28.3% | $826.0M 24.8% | $726.0M 26.4% | $463.0M 19.3% |
| Per Share | ||||||||||
| EPS (Basic) | $5.47 | $-7.69 | $-7.34 | $-28.00 | $5.07 | $4.48 | $6.81 | $5.63 | $4.96 | $3.09 |
| EPS (Diluted) | $5.45 | $-7.69 | $-7.34 | $-28.00 | $5.04 | $4.45 | $6.74 | $5.56 | $4.92 | $3.07 |
| Weighted Avg Shares (Basic) | 155.0M | 159.0M | 158.0M | 157.0M | 150.0M | 147.0M | 147.0M | 147.0M | 146.0M | 147.0M |
| Weighted Avg Shares (Diluted) | 156.0M | 159.0M | 158.0M | 157.0M | 151.0M | 148.0M | 149.0M | 149.0M | 148.0M | 148.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
7/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Insufficient balance-sheet detail (needs retained earnings, working capital, equity).
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $742M buybacks = $742M returned on $931M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 31%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-09-17
No material risks flagged.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 296.8× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2021 | FY2022 | FY2023 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 31.0 | 30.4 | 32.0 | 30.3 | 35.2 | 39.1 | 34.6 | 33.9 |
| Gross Profit | 69.0 | 69.6 | 68.0 | 69.7 | 64.8 | 60.9 | 65.4 | 66.1 |
| R&D | 18.7 | 18.3 | 21.1 | 26.2 | 28.8 | 30.1 | 26.7 | 22.3 |
| SG&A | 23.8 | 23.6 | 29.1 | 46.2 | 28.3 | 35.8 | 25.0 | 25.0 |
| Operating Income | 26.5 | 27.8 | 17.9 | -2.7 | -91.2 | -23.7 | -19.1 | 18.6 |
| Income Tax | 3.4 | 3.6 | 6.2 | 2.7 | 1.5 | 1.0 | 1.0 | 5.4 |
| Net Income | 24.8 | 28.3 | 20.3 | 16.8 | -96.1 | -25.8 | -28.0 | 19.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ILMN: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.03T | 50.2× | — | 15.9× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $368.2B | 20.2× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $339.9B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $248.2B | 37.1× | 31.9× | 5.6× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.1B | 20.3× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $131.1B | 33.7× | 28.8× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.8B | 24.9× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $107.1B | 33.4× | 18.4× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.5B | 22.9× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $82.6B | 19.0× | 19.8× | 5.8× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.7B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
| ILMN | $37.5B | 45.0× | 34.8× | 8.6× | -0.7% | 66.1% | 19.6% | 31.2% | 31.2% | — | 805 |
Peers = companies sharing ILMN's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.