Illumina (ILMN) FY2019 results: revenue $3.5 billion, up 6.3% on the year
Illumina, Inc. (ILMN) reported revenue of $3.5 billion for fiscal 2019, the year ended 29 December 2019, up 6.3% on the year before. Net income was $1.0 billion, up 21.3%, and diluted earnings per share $6.74. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2020.
Revenue
$3.5 billion
+6.3% on the year
FY2012FY2019
Operating margin
27.8%
26.5% a year earlier
FY2012FY2019
Net income
$1.0 billion
+21.3% on the year
FY2012FY2019
Diluted EPS
$6.74
+21.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
3,543
3,333
2,752
+6.3%
Cost of revenue
1,076
1,033
926
+4.2%
Gross profit
2,467
2,300
1,826
+7.3%
Gross margin
69.6%
69.0%
66.4%
Research and development
647
623
546
+3.9%
Selling, general and administrative
835
794
674
+5.2%
Operating income
985
883
606
+11.6%
Operating margin
27.8%
26.5%
22.0%
Interest expense
52.0
57.0
37.0
-8.8%
Pre-tax income
1,118
894
1,043
+25.1%
Income tax
128
112
365
+14.3%
Effective tax rate
11.4%
12.5%
35.0%
Net income
1,002
826
726
+21.3%
Net margin
28.3%
24.8%
26.4%
Diluted EPS
$6.74
$5.56
$4.92
+21.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,051
1,142
875
-8.0%
Capital expenditure
209
296
310
-29.4%
Free cash flow
842
846
565
-0.5%
Free cash flow margin
23.8%
25.4%
20.5%
Cash from investing
745
-1,813
-214
Cash from financing
-897
594
-176
Depreciation and amortisation
188
179
156
+5.0%
Share-based compensation
194
193
164
+0.5%
Buybacks
324
201
251
+61.2%
Diluted shares, weighted
149m
149m
148m
0.0%
Shares outstanding at period end
147m
147m
147m
0.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
4,613
3,758
2,749
+22.8%
Non-controlling interest
0.0
87.0
n/a
Redeemable equity
0.0
61.0
220
Debt
1,141
1,997
1,192
-42.9%
Operating lease liabilities
695
n/a
n/a
Other liabilities
867
1,056
1,096
-17.9%
Total liabilities and equity
7,316
6,959
5,257
+5.1%
Fixed assets
889
1,075
931
-17.3%
Goodwill
897
831
771
+7.9%
Intangible assets
145
185
175
-21.6%
Investments
1,372
2,368
920
-42.1%
Cash and equivalents
2,042
1,144
1,225
+78.5%
Receivables
573
514
411
+11.5%
Inventory
359
386
333
-7.0%
Other assets
1,039
456
491
+127.9%
Total assets
7,316
6,959
5,257
+5.1%
10-K for the year ended 29 December 2019, filed 11 February 2020: the filing.