Danaher Corporation (DHR) vs Illumina, Inc. (ILMN)

Danaher Corporation and Illumina, Inc. are both Diagnostics & Research companies. Danaher Corporation is the larger, with a market value of $159.2B against $31.5B — 5.1× the size. Illumina, Inc. trades at the lower P/E: 35.6× against 37.0×. Illumina, Inc. grew revenue faster over the last twelve months: 5.83% against 5.52%. Illumina, Inc. has the higher net margin (19.7% vs 16.9%) and the higher return on invested capital (16.7% vs 4.51%). Across the 22 metrics below, Illumina, Inc. leads on 15 and Danaher Corporation on 7.

Valuation

Metric DHR ILMN Diagnostics & Research median
P/E 36.97 35.62 34.52
P/S 6.22 6.98 4.24
P/B 2.97 10.07 3.42
Price to free cash flow 27.69 30.41 33.51
EV/EBITDA 22.31 26.35 23.44
EV/Sales 6.95 7.19 5.18
Earnings yield 2.70% 2.81% (1.50%)
Free cash flow yield 3.61% 3.29% 0.00%

Profitability

Metric DHR ILMN Diagnostics & Research median
Gross margin 58.59% 67.87% 48.32%
Operating margin 20.38% 21.18% (5.68%)
Net margin 16.91% 19.72% (4.10%)
Free cash flow margin 22.46% 23.29% 0.00%
Return on equity 8.27% 32.39% 0.00%
Return on assets 5.00% 13.78% (6.05%)
Return on invested capital 4.51% 16.70% 0.00%

Growth

Metric DHR ILMN Diagnostics & Research median
Revenue growth (TTM) 5.52% 5.83% 8.99%
EPS growth (last fiscal year) (4.54%) 170.87% 20.36%
Revenue growth, 5-year CAGR 1.97% 6.04% 7.30%
Net income growth, 5-year CAGR 0.59% 5.32% 0.00%

Health

Metric DHR ILMN Diagnostics & Research median
Debt to equity 0.45 0.57 0.01
Current ratio 1.63 2.63 2.27
Net debt to EBITDA 1.93 (0.13) 0.68

Dividend

Metric DHR ILMN Diagnostics & Research median
Dividend yield 0.67% — 0.67%
Payout ratio 0.25 — 0.20

Size

Metric DHR ILMN Diagnostics & Research median
Market cap 159.24b 31.45b 2.22b

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