Illumina (XSWX:ILMN) Cyclically Adjusted PS Ratio: 6.36 (As of Aug. 11, 2026) — 62% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

XSWX:ILMN Illumina Inc XSWX:ILMN
76 GF Score
Price CHF155.14
GF Value CHF107.32
! 7 Warning Signs
View Full Analysis

What is Illumina Cyclically Adjusted PS Ratio?

Illumina XSWX:ILMN 76 Cyclically Adjusted PS Ratio is 6.36 as of Aug. 11, 2026, which is 62% below its 10-year median of 16.80. GuruFocus rates XSWX:ILMN with a GF Score™ of 76/100 and a GF Value™ of CHF107.32. The stock has 7 warning signs investors should review. Among 136 Medical Diagnostics & Research companies, Illumina ranks worse than 78.68% on this metric.

As of today (2026-08-11), Illumina's current share price is CHF155.14. Illumina's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was CHF24.41. Illumina's Cyclically Adjusted PS Ratio for today is 6.36.

The historical rank and industry rank for Illumina's Cyclically Adjusted PS Ratio or its related term are showing as below:

XSWX:ILMN' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 2.57   Med: 16.8   Max: 29.44
Current: 6.4

During the past years, Illumina's highest Cyclically Adjusted PS Ratio was 29.44. The lowest was 2.57. And the median was 16.80.

XSWX:ILMN's Cyclically Adjusted PS Ratio is ranked worse than
78.68% of 136 companies
in the Medical Diagnostics & Research industry
Industry Median: 1.95 vs XSWX:ILMN: 6.40

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Illumina's adjusted revenue per share data for the three months ended in Jun. 2026 was CHF6.055. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is CHF24.41 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Illumina  (XSWX:ILMN) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Illumina Cyclically Adjusted PS Ratio Related Terms


Illumina Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Illumina's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Illumina Cyclically Adjusted PS Ratio Chart

Illumina Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 18.50 8.51 5.33 4.91 4.57

Illumina Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.39 3.33 4.57 4.19 5.87

XSWX:ILMN vs MTD, DGX, LH: Cyclically Adjusted PS Ratio Comparison

For the Diagnostics & Research subindustry, Illumina's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Illumina Cyclically Adjusted PS Ratio vs Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, Illumina's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Illumina's Cyclically Adjusted PS Ratio falls into.


XSWX:ILMN
76GF Score
Illumina Inc XSWX:ILMN
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Illumina Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Illumina's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=155.14/24.41
=6.36

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Illumina's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Illumina's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=6.055/333.9520*333.9520
=6.055

Current CPI (Jun. 2026) = 333.9520.

Illumina Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 3.991 241.428 5.520
201612 4.264 241.432 5.898
201703 4.074 243.801 5.580
201706 4.360 244.955 5.944
201709 4.643 246.819 6.282
201712 5.182 246.524 7.020
201803 5.009 249.554 6.703
201806 5.552 251.989 7.358
201809 5.543 252.439 7.333
201812 5.658 251.233 7.521
201903 5.681 254.202 7.463
201906 5.557 256.143 7.245
201909 6.071 256.759 7.896
201912 6.278 256.974 8.159
202003 5.568 258.115 7.204
202006 4.069 257.797 5.271
202009 4.908 260.280 6.297
202012 5.721 260.474 7.335
202103 6.913 264.877 8.716
202106 6.954 271.696 8.547
202109 6.683 274.310 8.136
202112 7.034 278.802 8.425
202203 7.149 287.504 8.304
202206 7.181 296.311 8.093
202209 6.912 296.808 7.777
202212 6.426 296.797 7.230
202303 6.367 301.836 7.044
202306 6.702 305.109 7.336
202309 6.371 307.789 6.913
202312 6.141 306.746 6.686
202403 6.013 312.332 6.429
202406 6.251 314.175 6.644
202409 5.719 315.301 6.057
202412 6.191 315.605 6.551
202503 5.785 319.799 6.041
202506 5.485 322.561 5.679
202509 5.604 324.800 5.762
202512 6.037 324.054 6.221
202603 5.578 330.213 5.641
202606 6.055 333.952 6.055

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PS Ratio of 6.36 mean?
Illumina (XSWX:ILMN) has a Cyclically Adjusted PS Ratio of 6.36 as of Aug. 11, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Illumina and its competitors. This is 62% below median its historical median of 16.80. Over the past decade, Illumina's Cyclically Adjusted PS Ratio has ranged from 2.57 to 29.44. According to the industry distribution chart, Illumina ranks #107 out of 136 companies in the Medical Diagnostics & Research industry, placing it in the top 78.7%.
Is Illumina's Cyclically Adjusted PS Ratio too high?
Illumina's current Cyclically Adjusted PS Ratio of 6.36 is 62% below median its 10-year median of 16.80. Over the past 10 years, this metric has ranged from a low of 2.57 to a high of 29.44. The Medical Diagnostics & Research industry median Cyclically Adjusted PS Ratio is 1.95. Illumina's value of 6.36 is 226.2% above this industry median. Based on the distribution chart, Illumina ranks #107 out of 136 companies in the Medical Diagnostics & Research industry, which is in the bottom quartile relative to peers. Overall, Illumina has a GF Score™ of 76/100, reflecting its overall financial health beyond just this single metric.
How does Illumina's Cyclically Adjusted PS Ratio compare to MTD and DGX?
According to the Medical Diagnostics & Research industry distribution chart, Illumina ranks #107 out of 136 companies for Cyclically Adjusted PS Ratio. This places Illumina in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.95. Illumina's value of 6.36 is 226.2% above this benchmark. Historically, Illumina's own Cyclically Adjusted PS Ratio has ranged from 2.57 to 29.44 over the past decade. While the company's 10-year median is 16.80 vs. the industry median of 1.95, Illumina has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Medical Diagnostics & Research company?
The median Cyclically Adjusted PS Ratio among Medical Diagnostics & Research companies is 1.95, based on 136 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Illumina's current Cyclically Adjusted PS Ratio of 6.36 is 226.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Illumina and its competitors. For the Medical Diagnostics & Research industry, the median Cyclically Adjusted PS Ratio is 1.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Illumina's current Cyclically Adjusted PS Ratio is 6.36, which is 62% below median its own 10-year median of 16.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Illumina stock overvalued right now?
Illumina (XSWX:ILMN) has a current Cyclically Adjusted PS Ratio of 6.36. The stock's GF Value™ is CHF107.32, compared to a current price of CHF155.14 — trading 44.6% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 6.36, which is 62% below median its 10-year median of 16.80 and 226.2% above the Medical Diagnostics & Research industry median of 1.95. Illumina's overall GF Score™ is 76/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Illumina (XSWX:ILMN), the current Cyclically Adjusted PS Ratio is 6.36 as of Aug. 11, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Illumina (XSWX:ILMN) Overvalued in 2026?

Based on GuruFocus' analysis, Illumina stock appears to be overvalued. The current stock price of CHF155.14 is trading 44.6% above its estimated GF Value™ of CHF107.32.

Key valuation signals for XSWX:ILMN:

  • Cyclically Adjusted PS Ratio: 6.36 (62% below median its 10-year median of 16.80)
  • GF Value™: CHF107.32 vs. price of CHF155.14 (44.6% above fair value)
  • GF Score™: 76/100 with 7 warning signs
  • Industry Position: 226.2% above the Medical Diagnostics & Research median (#107 of 136)

No single metric tells the full story. See the XSWX:ILMN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Illumina Business Description

Address 5200 Illumina Way, San Diego, CA, USA, 92122
Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates over 90% of its revenue from sequencing instruments, consumables, and services. Illumina's high-throughput technology enables whole genome sequencing in humans and other large organisms. Its lower throughput tools enable applications that require smaller data outputs, such as viral and cancer tumor screening. Illumina also sells microarrays (9% of 2024 sales) that enable lower-cost, focused genetic screening with primarily consumer and agricultural applications.
76GF Score

Get the complete analysis for XSWX:ILMN

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

CHF155.14
Price
CHF107.32
GF Value