Question 1

What is Illumina's P/S ratio?

Accepted Answer

Illumina (ILMN) P/S ratio is 6.7× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Illumina?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Illumina specifically, the relevant sector benchmark is the current sector median of 3.4×.

Question 5

Is Illumina's P/S ratio high or low?

Accepted Answer

Illumina's P/S ratio of 6.7× is below its own 5-year average of 6.7× and above the sector median of 3.4×. That places the current reading at the 69th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Illumina's historical P/S ratio range?

Accepted Answer

In the available daily series, Illumina (ILMN) P/S ratio has ranged from a low of 2.6× in 2025 to a high of 69.5× in 2002. The 5-year average is 6.7× and the 5-year median is 4.8×.

Question 7

What was Illumina's P/S ratio in 2025?

Accepted Answer

Illumina (ILMN) P/S ratio at the end of 2025 was 4.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does Illumina's P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$20.6B	$4.34B	4.7×	-0.1×	Dec 28, 2025
2024	$21.2B	$4.37B	4.9×	+0.1×	Dec 29, 2024
2023	$21.5B	$4.5B	4.8×	-2.0×	Dec 31, 2023
2022	$31B	$4.58B	6.8×	-6.1×	Dec 31, 2022
2021	$58B	$4.53B	12.8×	-3.4×	Dec 31, 2021
2020	$52.5B	$3.24B	16.2×	+2.8×	Dec 31, 2020
2019	$47.4B	$3.54B	13.4×	+0.5×	Dec 31, 2019
2018	$42.8B	$3.33B	12.9×	+1.6×	Dec 31, 2018
2017	$31B	$2.75B	11.3×	+3.6×	Dec 31, 2017
2016	$18.3B	$2.4B	7.6×	-4.6×	Dec 31, 2016
2015	$27.2B	$2.22B	12.3×	-1.5×	Dec 31, 2015
2014	$25.5B	$1.86B	13.7×	+4.1×	Dec 31, 2014
2013	$13.6B	$1.42B	9.6×	+3.8×	Dec 31, 2013
2012	$6.66B	$1.15B	5.8×	+2.4×	Dec 31, 2012
2011	$3.6B	$1.06B	3.4×	-6.9×	Dec 31, 2011
2010	$9.31B	$903M	10.3×	+4.2×	Dec 31, 2010
2009	$4.06B	$666M	6.1×	+0.3×	Dec 31, 2009
2008	$3.32B	$573M	5.8×	-2.8×	Dec 31, 2008
2007	$3.17B	$367M	8.6×	-1.8×	Dec 31, 2007
2006	$1.93B	$185M	10.5×	+2.1×	Dec 31, 2006
2005	$612M	$73.5M	8.3×	+1.3×	Dec 31, 2005
2004	$356M	$50.6M	7.0×	-0.8×	Dec 31, 2004
2003	$221M	$28M	7.9×	-2.3×	Dec 31, 2003
2002	$103M	$10M	10.2×	—	Dec 31, 2002


Zimmer Biomet Holdings (ZBH)	2.1×
AptarGroup (ATR)	2.1×
Becton, Dickinson and (BDX)	2.1×
Charles River (CRL)	1.9×
Quest Diagnostics (DGX)	1.9×
IQVIA (IQV)	1.7×
GE HealthCare (GEHC)	1.6×
Labcorp Holdings (LH)	1.6×
HCA Healthcare (HCA)	1.4×
Solventum (SOLV)	1.4×
Viatris (VTRS)	1.1×
UnitedHealth Group (UNH)	0.8×
Baxter International (BAX)	0.8×
DaVita (DVA)	0.7×
Henry Schein (HSIC)	0.6×
Universal Health Services (UHS)	0.6×
Elevance Health (ELV)	0.4×
Teladoc Health (TDOC)	0.4×
McKesson (MCK)	0.3×
Cigna (CI)	0.3×
CVS Health (CVS)	0.2×
Cardinal Health (CAH)	0.2×
Cencora (COR)	0.2×
Humana (HUM)	0.2×
Centene (CNC)	0.1×

P/S Ratio for Illumina (ILMN) 2002-2026

P/S Ratio daily chart for Illumina (ILMN)

Historical P/S Ratio for Illumina (ILMN) from 2002 to 2025

About P/S Ratio at Illumina (ILMN)

Illumina P/S Ratio by Year

Illumina P/S Ratio 2025: 4.7×

Illumina P/S Ratio 2024: 4.9×

Illumina P/S Ratio 2023: 4.8×

Illumina P/S Ratio 2022: 6.8×

Illumina P/S Ratio 2021: 12.8×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Illumina (ILMN) Key Financials