Illumina [ILMN] vs Waters [WAT] Detailed Stock Comparison

Illumina, Inc.

NASDAQ
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Waters Corporation

NYSE
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TLDR: Quick Comparison Summary

Based on 20 vital metrics comparison: Illumina, Inc. wins in 9 metrics, Waters Corporation wins in 11 metrics, with 0 ties. Waters Corporation appears stronger overall.

View Metrics Details

Vital Metrics Comparison

Metric Illumina, Inc. Waters Corporation Better
P/E Ratio (TTM) 24.22 28.90 Illumina, Inc.
Price-to-Book Ratio 7.42 7.24 Waters Corporation
Debt-to-Equity Ratio 93.76 60.28 Waters Corporation
PEG Ratio 0.28 -9.39 Illumina, Inc.
EV/EBITDA 18.53 28.78 Illumina, Inc.
Profit Margin (TTM) 19.57% 20.30% Waters Corporation
Operating Margin (TTM) 19.67% 33.76% Waters Corporation
EBITDA Margin (TTM) 19.67% 33.76% Waters Corporation
Return on Equity 33.36% 29.28% Illumina, Inc.
Return on Assets (TTM) 8.39% 11.52% Waters Corporation
Free Cash Flow (TTM) $931.00M $539.81M Illumina, Inc.
1-Year Return 85.17% 3.87% Illumina, Inc.
Price-to-Sales Ratio (TTM) 4.65 9.65 Illumina, Inc.
Enterprise Value $21.10B $31.49B Waters Corporation
EV/Revenue Ratio 4.86 9.95 Illumina, Inc.
Gross Profit Margin (TTM) 65.49% 61.08% Illumina, Inc.
Revenue per Share (TTM) $28 $53 Waters Corporation
Earnings per Share (Diluted) $5.45 $10.77 Waters Corporation
Beta (Stock Volatility) 1.49 1.20 Waters Corporation
Short % of Float 7.46% 3.38% Waters Corporation

Illumina, Inc. vs Waters Corporation Stock Performance Analysis

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ILMN
WAT

Performance Comparison

Short-term Returns

Stock1D1W1M3M6MYTD
Illumina, Inc.3.68%5.60%17.08%39.91%23.70%24.22%
Waters Corporation0.63%-1.54%8.67%23.36%-7.18%-6.34%

Long-term Returns

Stock1Y3Y5Y10Y15Y20Y
Illumina, Inc.85.17%-19.62%-63.72%20.74%125.39%1,163.50%
Waters Corporation3.87%32.07%3.74%165.28%286.07%736.74%

Performance & Financial Health Analysis: Illumina, Inc. vs Waters Corporation

MetricILMNWAT
Market Information
Market Cap i$19.18B$30.55B
Market Cap CategoryLarge capLarge cap
10 Day Avg. Volume i1,531,465809,747
90 Day Avg. Volume i1,454,472944,136
Last Close$166.89$357.76
52 Week Range$86.03 - $177.22$275.05 - $414.15
% from 52W High-5.83%-13.62%
All-Time High$540.63 (Feb 08, 2021)$428.22 (Sep 06, 2021)
% from All-Time High-69.13%-16.45%
Growth Metrics
Quarterly Revenue Growth0.05%0.07%
Quarterly Earnings Growth0.79%-0.03%
Financial Health
Profit Margin (TTM) i0.20%0.20%
Operating Margin (TTM) i0.20%0.34%
Return on Equity (TTM) i0.33%0.29%
Debt to Equity (MRQ) i93.7660.28
Cash & Liquidity
Book Value per Share (MRQ)$17.80$43.01
Cash per Share (MRQ)$10.68$5.99
Operating Cash Flow (TTM) i$1.08B$652.56M
Levered Free Cash Flow (TTM) i$786.00M$427.16M
Dividends
Last 12-Month Dividend Yield iN/AN/A
Last 12-Month Dividend iN/A$0.00

Valuation & Enterprise Metrics Analysis: Illumina, Inc. vs Waters Corporation

MetricILMN (Apr 24, 2026)WAT (Apr 24, 2026)
Price Ratios
P/E Ratio (TTM) i24.2228.90
Forward P/E i22.6619.04
PEG Ratio i0.28-9.39
Price to Sales (TTM) i4.659.65
Price to Book (MRQ) i7.427.24
Market Capitalization
Market Capitalization i$19.18B$30.55B
Enterprise Value i$21.10B$31.49B
Enterprise Value Metrics
Enterprise to Revenue i4.869.95
Enterprise to EBITDA i18.5328.78
Risk & Other Metrics
Beta i1.491.20
Book Value per Share (MRQ) i$17.80$43.01

Financial Statements Comparison: Illumina, Inc. vs Waters Corporation

Financial Metrics

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Revenue

Operating Margin

Profit Margin

Long Term Debt

Income Flow Analysis

Financial Statements Comparison

Income Statement

MetricILMN (2025)WAT (2025)
Revenue/Sales i4.34B3.17B
Cost of Goods Sold i1.47B1.29B
COGS % of Revenue i33.9%40.7%
Gross Profit i2.87B1.88B
Gross Margin i66.1%59.3%
Research & Development i967.00M195.71M
Operating Income (EBIT) i817.00M802.59M
Operating Margin i18.8%25.4%
EBITDA i1.47B1.03B
EBITDA Margin i33.8%32.6%
Pre-Tax Income i1.09B754.88M
Pre-Tax Income % of Revenue i25.0%23.8%
Income Tax i236.00M112.25M
Income Tax % of Revenue i5.4%3.5%
Net Income (Profit) i850.00M642.63M
Profit Margin i19.6%20.3%

Balance Sheet & Liquidity Metrics

MetricILMN (2025)WAT (2025)
Cash & Equivalents i1.42B587.83M
Total Current Assets i3.29B2.15B
Total Current Assets % of Revenue i75.7%67.8%
Total Current Liabilities i1.59B1.24B
Total Current Liabilities % of Revenue i36.5%39.2%
Long-Term Debt i1.98B999.99M
Long-Term Debt % of Revenue i45.5%31.6%
Total Shareholders Equity i2.72B2.56B
Retained Earnings i-392.00M10.43B
Retained Earnings % of Revenue i-9.0%329.6%
Property, Plant & Equipment i370.00M824.49M

Cash Flow Statement Comparison

MetricILMN (2025)WAT (2025)
Operating Cash Flow i1.39B652.56M
Operating Cash Flow % of Revenue i32.0%20.6%
Capital Expenditures i-148.00M-112.75M
Free Cash Flow i931.00M539.81M
FCF Margin i21.4%17.1%
Debt Repayment i-500.00M-290.00M
Common Stock Repurchase i-742.00M-14.67M

Short Interest & Institutional Ownership Analysis

MetricILMNWAT
Shares Short i6.96M3.32M
Short Ratio i4.782.98
Short % of Float i7.46%3.38%
Shares Outstanding i153.00M59.55M
Float Shares i148.62M97.96M
% Held by Insiders i0.22%0.11%
% Held by Institutions i108.01%63.35%
% Held by Public i-8.23%36.54%

Dividend Analysis & Yield Comparison: Illumina, Inc. vs Waters Corporation

MetricILMNWAT
Last 12-Month Dividend iN/A$0.00
Last 12-Month Dividend Yield iN/AN/A
3-Year Avg Annual Dividend iN/A$0.00
3-Year Avg Dividend Yield iN/AN/A
3-Year Total Dividends iN/A$0.00
Ex-Dividend DateN/AN/A