ILMN
Illumina, Inc.
ILMN has the edge over OSCR overall, supported by stronger valuation and lower modeled downside.
OSCR
Oscar Health, Inc.
OSCR offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
ILMN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Strong |
ILMN's profitability, cash flow and balance sheet are currently strong, and its revenue is stable.
OSCR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Strong | |
| Strong |
OSCR's revenue, profitability, cash flow and balance sheet are all currently healthy.
ILMN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 29x | $170 | -19% |
| Forward | 35x | $210 | — |
| Current | 36x | $210 | — |
| Fair | 52x | $300 | +43% |
| Expensive | 84x | $487 | +132% |
Historical ranges are pointers, not guarantees.
ILMN's PE is in its cheap range at 36x. On analysts' estimates for next year's earnings, today's price would be 35x.
OSCR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $31.94 | — |
| Current | 13x | $31.94 | — |
| Cheap | 21x | $52.73 | +65% |
| Fair | 35x | $87.23 | +173% |
| Expensive | 130x | $322 | +907% |
Historical ranges are pointers, not guarantees.
OSCR has the edge over ILMN in the historical PE scenario, which offers more potential upside but is not a forecast.
ILMN Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ILMN, with profitability improving.
OSCR Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
OSCR has the edge over ILMN on the outlook, with more favorable valuation expectations.
ILMN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.97 | +2.7% |
| Q3 2026 | $5.81 | +31% |
| Q2 2026 | $5.36 | -32% |
| Q1 2026 | $5.50 | +$11.58 |
| Q4 2025 | $5.45 | +$13.14 |
| Q3 2025 | $4.45 | +$14.41 |
| Q2 2025 | $7.89 | +$27.04 |
| Q1 2025 | -$6.08 | +$2.07 |
| Q4 2024 | -$7.69 | -$0.35 |
ILMN has the edge over OSCR on earnings, with more consistent year-over-year improvement.
OSCR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.61 | +5.6% |
| Q3 2026 | $2.47 | +$3.47 |
| Q2 2026 | $1.45 | +$2.14 |
| Q1 2026 | -$0.54 | -235% |
| Q4 2025 | -$1.69 | -1790% |
| Q3 2025 | -$1.00 | -$0.92 |
| Q2 2025 | -$0.69 | -$0.54 |
| Q1 2025 | $0.40 | +$0.82 |
| Q4 2024 | $0.10 | +$1.32 |
OSCR has returned to profit: it earned $2.47 per share over the past year, after losing money the year before.
ILMN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +4.2% |
| Q2 2026 | $1.2B | +9.4% |
| Q1 2026 | $1.1B | +4.8% |
| Q4 2025 | $1.2B | +5% |
| Q3 2025 | $1.1B | +0.4% |
| Q2 2025 | $1.1B | -4.8% |
| Q1 2025 | $1B | -3.3% |
| Q4 2024 | $1.1B | -1.6% |
ILMN's revenue has grown year over year for five quarters in a row: $1.1B last quarter, up 4.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 27% | +6.1 points |
| Q2 2026 | 21% | +0.9 points |
| Q1 2026 | 19% | +3.4 points |
| Q4 2025 | 17% | +1.5 points |
| Q3 2025 | 21% | -48 points |
| Q2 2025 | 20% | +167 points |
| Q1 2025 | 16% | +26 points |
| Q4 2024 | 16% | +31 points |
ILMN has the edge over OSCR on profitability, with a higher operating margin.
OSCR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.1B | +72% |
| Q2 2026 | $4.9B | +70% |
| Q1 2026 | $4.6B | +53% |
| Q4 2025 | $2.8B | +17% |
| Q3 2025 | $3B | +23% |
| Q2 2025 | $2.9B | +29% |
| Q1 2025 | $3B | +42% |
| Q4 2024 | $2.4B | +67% |
OSCR has the edge over ILMN on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.5% | +7.8 points |
| Q2 2026 | 8% | +16 points |
| Q1 2026 | 15% | +5.4 points |
| Q4 2025 | -12% | -5.7 points |
| Q3 2025 | -4.3% | -2.3 points |
| Q2 2025 | -8.1% | -11 points |
| Q1 2025 | 9.8% | +1.1 points |
| Q4 2024 | -6.2% | +4 points |
OSCR's operating margin was 3.5% last quarter, up 7.8 points from the same quarter a year ago.
ILMN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $379M | +50% |
| Q2 2026 | $161M | -21% |
| Q1 2026 | $251M | +21% |
| Q4 2025 | $266M | -21% |
| Q3 2025 | $253M | -11% |
| Q2 2025 | $204M | +316% |
| Q1 2025 | $208M | +407% |
| Q4 2024 | $335M | +94% |
ILMN generated $1.1B in free cash flow over the past year, up 5.7% from the year before.
OSCR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.2B | -$238.2M |
| Q2 2026 | $2.1B | +316% |
| Q1 2026 | $2.6B | +200% |
| Q4 2025 | $662.8M | +95% |
| Q3 2025 | -$973.7M | -$466M |
| Q2 2025 | $499.8M | +2.1% |
| Q1 2025 | $869.5M | +38% |
| Q4 2024 | $340M | +17% |
OSCR has the edge over ILMN on cash flow, with more consistent year-over-year improvement.
ILMN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.7% | +1M shares |
| 1 year | 0% | -- |
| 3 years | -2.5% | -4M shares |
| 5 years | +0.7% | +1M shares |
| Available history | +3.4% | +5M shares |
ILMN has the edge over OSCR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $9M |
| Q2 2026 | $128M |
| Q1 2026 | $242M |
| Q4 2025 | $42M |
| Q3 2025 | $130M |
| Q2 2025 | $370M |
| Q1 2025 | $200M |
| Q4 2024 | $17M |
ILMN spent $421M buying back its own shares over the past year, down 41% from the year before.
OSCR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.9% | +13M shares |
| 1 year | +34% | +87.2M shares |
| 3 years | +55% | +123M shares |
| 5 years | +66% | +138M shares |
| Available history | +71% | +143M shares |
OSCR has 346M diluted shares, up 34% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
ILMN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.4x | Very low |
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 0.8x | Very low |
| Q4 2025 | 0.5x | Very low |
| Q3 2025 | 0.9x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2022 | -5.3x | Net Cash |
| Q4 2021 | -9.7x | Net Cash |
ILMN's net debt is less than a year of its operating earnings (EBITDA).
OSCR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -4.2x | Net Cash |
| Q2 2026 | -5.5x | Net Cash |
| Q1 2026 | -110.0x | Net Cash |
| Q1 2025 | -9.7x | Net Cash |
| Q4 2024 | -13.7x | Net Cash |
| Q3 2024 | -10.1x | Net Cash |
| Q2 2024 | -24.0x | Net Cash |
| Q1 2024 | -217.7x | Net Cash |
OSCR has the edge over ILMN on leverage, with a lower net debt burden relative to earnings.
ILMN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.9 | Neutral |
| Stochastic | 26.8 | Neutral |
ILMN's weekly RSI is 50 (neutral) and its Stochastic is 27 (neutral).
OSCR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.7 | Neutral |
| Stochastic | 44.9 | Neutral |
OSCR's weekly RSI is 59 (neutral) and its Stochastic is 45 (neutral).
ILMN PE vs Healthcare Sector
| Metric | ILMN | Sector median | Relative |
|---|---|---|---|
| PE | 36x | 26x | 40% above |
| PE % | 27 | 29 | 2 pts below |
ILMN is trading at 36x earnings, a 40% premium to the Healthcare sector's median of 26x.
OSCR PE vs Healthcare Sector
| Metric | OSCR | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 26x | 50% below |
| PE % | 3 | 35 | 32 pts below |
OSCR has the edge over ILMN on valuation relative to its sector.
ILMN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $251.5 | 17% below |
| 20 week MA | $222.7 | 5.9% below |
| 50 week MA | $171.5 | 22% above |
| 100 week MA | $136.1 | 54% above |
| 200 week MA | $142.4 | 47% above |
ILMN has slipped below its 8- and 20-week averages, though it's still 47% above its 200-week average.
OSCR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.2 | 2.3% above |
| 20 week MA | $31.1 | 2.8% above |
| 50 week MA | $22.9 | 39% above |
| 100 week MA | $19.3 | 65% above |
| 200 week MA | $15.5 | 106% above |
OSCR has the edge over ILMN on trend strength, trading above more of its moving averages.
ILMN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $322.9 | $356.9 | +11% |
| 2021 | $356.9 | $371.5 | +4.1% |
| 2022 | $371.5 | $185.9 | -50% |
| 2023 | $185.9 | $135.3 | -27% |
| 2024 | $135.3 | $135.3 | 0% |
| 2025 | $135.3 | $135.0 | -0.2% |
| 2026 YTD | $135.0 | $209.6 | +55% |
ILMN has finished four years in a row lower, and it's up 55% so far in 2026.
OSCR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $31.0 | $8.02 | -74% |
| 2022 | $8.02 | $2.21 | -72% |
| 2023 | $2.21 | $9.15 | +314% |
| 2024 | $9.15 | $13.8 | +51% |
| 2025 | $13.8 | $14.9 | +8% |
| 2026 YTD | $14.9 | $31.9 | +114% |
OSCR has the edge over ILMN on returns for 2026, with the stronger performance.