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Side-by-side financial comparison of ILLUMINA, INC. (ILMN) and Envista Holdings Corp (NVST). Click either name above to swap in a different company.
ILLUMINA, INC. is the larger business by last-quarter revenue ($1.1B vs $750.6M, roughly 1.5× Envista Holdings Corp). ILLUMINA, INC. runs the higher net margin — 12.3% vs 4.4%, a 7.9% gap on every dollar of revenue. On growth, Envista Holdings Corp posted the faster year-over-year revenue change (15.0% vs 4.8%). ILLUMINA, INC. produced more free cash flow last quarter ($251.0M vs $91.7M). Over the past eight quarters, Envista Holdings Corp's revenue compounded faster (9.7% CAGR vs -1.3%).
Illumina, Inc. is an American biotechnology company, headquartered in San Diego, California. Incorporated on April 1, 1998, Illumina develops, manufactures, and markets integrated systems for the analysis of genetic variation and biological function. The company provides a line of products and services that serves the sequencing, genotyping and gene expression, and proteomics markets, and serves more than 155 countries.
Envista Holdings CorpNVSTEarnings & Financial Report
Envista Forensics is a United States based company that provides forensic engineering and recovery solutions for the insurance, legal, and risk management industries in the United States and internationally. Originally LWG Consulting, Inc., The company rebranded itself as Envista Forensics in 2017.
ILMN vs NVST — Head-to-Head
Income Statement — Q1 FY2027 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $750.6M |
| Net Profit | $134.0M | $32.9M |
| Gross Margin | 66.1% | 54.7% |
| Operating Margin | 19.2% | 9.8% |
| Net Margin | 12.3% | 4.4% |
| Revenue YoY | 4.8% | 15.0% |
| Net Profit YoY | — | 2641.7% |
| EPS (diluted) | $0.87 | $0.20 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $750.6M | ||
| Q3 25 | — | $669.9M | ||
| Q2 25 | — | $682.1M | ||
| Q1 25 | — | $616.9M | ||
| Q4 24 | $1.1B | $652.9M | ||
| Q3 24 | $1.1B | $601.0M | ||
| Q2 24 | $1.1B | $633.1M |
| Q1 26 | $134.0M | — | ||
| Q4 25 | $334.0M | $32.9M | ||
| Q3 25 | — | $-30.3M | ||
| Q2 25 | — | $26.4M | ||
| Q1 25 | — | $18.0M | ||
| Q4 24 | $186.0M | $1.2M | ||
| Q3 24 | $705.0M | $8.2M | ||
| Q2 24 | $-2.0B | $-1.2B |
| Q1 26 | 66.1% | — | ||
| Q4 25 | 65.5% | 54.7% | ||
| Q3 25 | — | 55.3% | ||
| Q2 25 | — | 54.2% | ||
| Q1 25 | — | 54.5% | ||
| Q4 24 | 65.9% | 57.1% | ||
| Q3 24 | 69.0% | 52.8% | ||
| Q2 24 | 64.8% | 51.6% |
| Q1 26 | 19.2% | — | ||
| Q4 25 | 17.4% | 9.8% | ||
| Q3 25 | — | 8.6% | ||
| Q2 25 | — | 6.8% | ||
| Q1 25 | — | 6.3% | ||
| Q4 24 | 15.8% | 7.1% | ||
| Q3 24 | 68.6% | 3.5% | ||
| Q2 24 | -147.2% | -182.2% |
| Q1 26 | 12.3% | — | ||
| Q4 25 | 28.8% | 4.4% | ||
| Q3 25 | — | -4.5% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | 2.9% | ||
| Q4 24 | 16.8% | 0.2% | ||
| Q3 24 | 65.3% | 1.4% | ||
| Q2 24 | -178.8% | -181.9% |
| Q1 26 | $0.87 | — | ||
| Q4 25 | $2.16 | $0.20 | ||
| Q3 25 | — | $-0.18 | ||
| Q2 25 | — | $0.16 | ||
| Q1 25 | — | $0.10 | ||
| Q4 24 | $1.16 | $0.00 | ||
| Q3 24 | $4.42 | $0.05 | ||
| Q2 24 | $-12.48 | $-6.69 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.2B | $1.2B |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $2.7B | $3.1B |
| Total Assets | $6.6B | $5.7B |
| Debt / EquityLower = less leverage | — | 0.47× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $93.0M | $1.1B | ||
| Q3 24 | $70.0M | $991.3M | ||
| Q2 24 | $74.0M | $1.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.5B |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $3.1B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | $2.4B | $2.9B | ||
| Q3 24 | $2.1B | $3.1B | ||
| Q2 24 | $1.4B | $3.0B |
| Q1 26 | $6.6B | — | ||
| Q4 25 | $6.6B | $5.7B | ||
| Q3 25 | — | $5.6B | ||
| Q2 25 | — | $5.7B | ||
| Q1 25 | — | $5.5B | ||
| Q4 24 | $6.3B | $5.4B | ||
| Q3 24 | $6.0B | $5.5B | ||
| Q2 24 | $6.1B | $5.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.46× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.48× | ||
| Q3 24 | — | 0.46× | ||
| Q2 24 | — | 0.51× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $289.0M | $108.0M |
| Free Cash FlowOCF − Capex | $251.0M | $91.7M |
| FCF MarginFCF / Revenue | 23.0% | 12.2% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | 2.16× | 3.28× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $230.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $289.0M | — | ||
| Q4 25 | $321.0M | $108.0M | ||
| Q3 25 | — | $78.7M | ||
| Q2 25 | — | $88.7M | ||
| Q1 25 | — | $300.0K | ||
| Q4 24 | $364.0M | $132.4M | ||
| Q3 24 | $316.0M | $70.7M | ||
| Q2 24 | $80.0M | $93.1M |
| Q1 26 | $251.0M | — | ||
| Q4 25 | $267.0M | $91.7M | ||
| Q3 25 | — | $67.9M | ||
| Q2 25 | — | $76.4M | ||
| Q1 25 | — | $-5.6M | ||
| Q4 24 | $335.0M | $123.8M | ||
| Q3 24 | $284.0M | $63.3M | ||
| Q2 24 | $49.0M | $86.3M |
| Q1 26 | 23.0% | — | ||
| Q4 25 | 23.0% | 12.2% | ||
| Q3 25 | — | 10.1% | ||
| Q2 25 | — | 11.2% | ||
| Q1 25 | — | -0.9% | ||
| Q4 24 | 30.3% | 19.0% | ||
| Q3 24 | 26.3% | 10.5% | ||
| Q2 24 | 4.4% | 13.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | 2.6% | 1.3% | ||
| Q3 24 | 3.0% | 1.2% | ||
| Q2 24 | 2.8% | 1.1% |
| Q1 26 | 2.16× | — | ||
| Q4 25 | 0.96× | 3.28× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 3.36× | ||
| Q1 25 | — | 0.02× | ||
| Q4 24 | 1.96× | 110.33× | ||
| Q3 24 | 0.45× | 8.62× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ILMN
| Product revenue | $917.0M | 84% |
| Service and other revenue | $174.0M | 16% |
NVST
| Other | $375.8M | 50% |
| Specialty Productsand Technologies | $188.4M | 25% |
| Equipmentand Consumables | $186.4M | 25% |
