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Side-by-side financial comparison of ILLUMINA, INC. (ILMN) and Royalty Pharma plc (RPRX). Click either name above to swap in a different company.
ILLUMINA, INC. is the larger business by last-quarter revenue ($1.2B vs $622.0M, roughly 1.9× Royalty Pharma plc). Royalty Pharma plc runs the higher net margin — 34.4% vs 28.8%, a 5.6% gap on every dollar of revenue. On growth, ILLUMINA, INC. posted the faster year-over-year revenue change (5.0% vs 4.8%). Over the past eight quarters, Royalty Pharma plc's revenue compounded faster (4.6% CAGR vs -0.7%).
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.
Acceleron Pharma, Inc. is an American clinical stage biopharmaceutical company based in Cambridge, Massachusetts with a broad focus on developing medicines that regulate the transforming growth factor beta (TGF-β) superfamily of proteins, which play fundamental roles in the growth and repair of cells and tissues such as red blood cells, muscle, bone, and blood vessels.
ILMN vs RPRX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $622.0M |
| Net Profit | $334.0M | $214.2M |
| Gross Margin | 65.5% | — |
| Operating Margin | 17.4% | 62.4% |
| Net Margin | 28.8% | 34.4% |
| Revenue YoY | 5.0% | 4.8% |
| Net Profit YoY | 185.5% | 2.9% |
| EPS (diluted) | $2.16 | $0.49 |
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.
| Q4 25 | $1.2B | $622.0M | ||
| Q3 25 | — | $609.3M | ||
| Q2 25 | — | $578.7M | ||
| Q1 25 | — | $568.2M | ||
| Q4 24 | $1.1B | $593.6M | ||
| Q3 24 | $1.1B | $564.7M | ||
| Q2 24 | $1.1B | $537.3M | ||
| Q1 24 | $1.1B | $568.0M |
| Q4 25 | $334.0M | $214.2M | ||
| Q3 25 | — | $288.2M | ||
| Q2 25 | — | $30.2M | ||
| Q1 25 | — | $238.3M | ||
| Q4 24 | $186.0M | $208.2M | ||
| Q3 24 | $705.0M | $544.0M | ||
| Q2 24 | $-2.0B | $102.0M | ||
| Q1 24 | $-126.0M | $4.8M |
| Q4 25 | 65.5% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 65.9% | — | ||
| Q3 24 | 69.0% | — | ||
| Q2 24 | 64.8% | — | ||
| Q1 24 | 62.0% | — |
| Q4 25 | 17.4% | 62.4% | ||
| Q3 25 | — | 70.1% | ||
| Q2 25 | — | 36.3% | ||
| Q1 25 | — | 94.0% | ||
| Q4 24 | 15.8% | 60.9% | ||
| Q3 24 | 68.6% | — | ||
| Q2 24 | -147.2% | 50.2% | ||
| Q1 24 | -10.3% | -13.0% |
| Q4 25 | 28.8% | 34.4% | ||
| Q3 25 | — | 47.3% | ||
| Q2 25 | — | 5.2% | ||
| Q1 25 | — | 41.9% | ||
| Q4 24 | 16.8% | 35.1% | ||
| Q3 24 | 65.3% | 96.3% | ||
| Q2 24 | -178.8% | 19.0% | ||
| Q1 24 | -11.7% | 0.8% |
| Q4 25 | $2.16 | $0.49 | ||
| Q3 25 | — | $0.67 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $0.55 | ||
| Q4 24 | $1.16 | $0.46 | ||
| Q3 24 | $4.42 | $1.21 | ||
| Q2 24 | $-12.48 | $0.23 | ||
| Q1 24 | $-0.79 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.6B | $618.7M |
| Total DebtLower is stronger | — | $9.0B |
| Stockholders' EquityBook value | $2.7B | $9.7B |
| Total Assets | $6.6B | $19.6B |
| Debt / EquityLower = less leverage | — | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $618.7M | ||
| Q3 25 | — | $938.9M | ||
| Q2 25 | — | $631.9M | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $93.0M | $929.0M | ||
| Q3 24 | $70.0M | $950.1M | ||
| Q2 24 | $74.0M | $1.8B | ||
| Q1 24 | — | $843.0M |
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $6.1B |
| Q4 25 | $2.7B | $9.7B | ||
| Q3 25 | — | $9.6B | ||
| Q2 25 | — | $9.5B | ||
| Q1 25 | — | $9.8B | ||
| Q4 24 | $2.4B | $10.3B | ||
| Q3 24 | $2.1B | $10.3B | ||
| Q2 24 | $1.4B | $9.8B | ||
| Q1 24 | $5.7B | $9.9B |
| Q4 25 | $6.6B | $19.6B | ||
| Q3 25 | — | $19.3B | ||
| Q2 25 | — | $18.3B | ||
| Q1 25 | — | $17.6B | ||
| Q4 24 | $6.3B | $18.2B | ||
| Q3 24 | $6.0B | $18.0B | ||
| Q2 24 | $6.1B | $17.7B | ||
| Q1 24 | $10.0B | $16.1B |
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $321.0M | $827.1M |
| Free Cash FlowOCF − Capex | $267.0M | — |
| FCF MarginFCF / Revenue | 23.0% | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.96× | 3.86× |
| TTM Free Cash FlowTrailing 4 quarters | $935.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $321.0M | $827.1M | ||
| Q3 25 | — | $702.6M | ||
| Q2 25 | — | $364.0M | ||
| Q1 25 | — | $596.1M | ||
| Q4 24 | $364.0M | $742.5M | ||
| Q3 24 | $316.0M | $703.6M | ||
| Q2 24 | $80.0M | $658.2M | ||
| Q1 24 | $77.0M | $664.6M |
| Q4 25 | $267.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $335.0M | — | ||
| Q3 24 | $284.0M | — | ||
| Q2 24 | $49.0M | — | ||
| Q1 24 | $41.0M | — |
| Q4 25 | 23.0% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 30.3% | — | ||
| Q3 24 | 26.3% | — | ||
| Q2 24 | 4.4% | — | ||
| Q1 24 | 3.8% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 3.0% | — | ||
| Q2 24 | 2.8% | — | ||
| Q1 24 | 3.3% | — |
| Q4 25 | 0.96× | 3.86× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | — | 12.06× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | 1.96× | 3.57× | ||
| Q3 24 | 0.45× | 1.29× | ||
| Q2 24 | — | 6.45× | ||
| Q1 24 | — | 139.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ILMN
| Product revenue | $990.0M | 85% |
| Service and other revenue | $169.0M | 15% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
