Illumina (ILMN) FY2020 results: revenue $3.2 billion, down 8.6% on the year
Illumina, Inc. (ILMN) reported revenue of $3.2 billion for fiscal 2020, the year ended 3 January 2021, down 8.6% on the year before. Net income was $656 million, down 34.5%, and diluted earnings per share $4.45. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2021.
Revenue
$3.2 billion
-8.6% on the year
FY2013FY2020
Operating margin
17.9%
27.8% a year earlier
FY2013FY2020
Net income
$656 million
-34.5% on the year
FY2013FY2020
Diluted EPS
$4.45
-34.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
3,239
3,543
3,333
-8.6%
Cost of revenue
1,036
1,076
1,033
-3.7%
Gross profit
2,203
2,467
2,300
-10.7%
Gross margin
68.0%
69.6%
69.0%
Research and development
682
647
623
+5.4%
Selling, general and administrative
941
835
794
+12.7%
Operating income
580
985
883
-41.1%
Operating margin
17.9%
27.8%
26.5%
Interest expense
49.0
52.0
57.0
-5.8%
Pre-tax income
856
1,118
894
-23.4%
Income tax
200
128
112
+56.2%
Effective tax rate
23.4%
11.4%
12.5%
Net income
656
1,002
826
-34.5%
Net margin
20.3%
28.3%
24.8%
Diluted EPS
$4.45
$6.74
$5.56
-34.0%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,080
1,051
1,142
+2.8%
Capital expenditure
189
209
296
-9.6%
Free cash flow
891
842
846
+5.8%
Free cash flow margin
27.5%
23.8%
25.4%
Cash from investing
-554
745
-1,813
Cash from financing
-766
-897
594
Depreciation and amortisation
187
188
179
-0.5%
Share-based compensation
194
194
193
0.0%
Buybacks
736
324
201
+127.2%
Diluted shares, weighted
148m
149m
149m
-0.7%
Shares outstanding at period end
146m
147m
147m
-0.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
4,694
4,613
3,758
+1.8%
Non-controlling interest
n/a
0.0
87.0
Redeemable equity
0.0
0.0
61.0
Debt
1,184
1,141
1,997
+3.8%
Operating lease liabilities
671
695
n/a
-3.5%
Other liabilities
1,036
867
1,056
+19.5%
Total liabilities and equity
7,585
7,316
6,959
+3.7%
Fixed assets
922
889
1,075
+3.7%
Goodwill
897
897
831
0.0%
Intangible assets
142
145
185
-2.1%
Investments
1,662
1,372
2,368
+21.1%
Cash and equivalents
1,810
2,042
1,144
-11.4%
Receivables
487
573
514
-15.0%
Inventory
372
359
386
+3.6%
Other assets
1,293
1,039
456
+24.4%
Total assets
7,585
7,316
6,959
+3.7%
10-K for the year ended 3 January 2021, filed 17 February 2021: the filing.