ILMN
Illumina, Inc.
ILMN has the edge over UNH overall, supported by stronger fundamentals and stronger valuation.
UNH
UnitedHealth Group Incorporated
UNH has lower modeled downside risk, despite its lower overall score.
ILMN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Strong |
ILMN's profitability, cash flow and balance sheet are currently strong, and its revenue is stable.
UNH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Healthy |
UNH's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.
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.
UNH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $405 | — |
| Cheap | 19x | $325 | -20% |
| Fair | 23x | $410 | +1.2% |
| Current | 23x | $405 | — |
| Expensive | 30x | $526 | +30% |
Historical ranges are pointers, not guarantees.
UNH 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.
UNH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Moderate | |
| Low |
Analysts expect UNH's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
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 UNH on earnings, with more consistent year-over-year improvement.
UNH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $22.65 | +29% |
| Q3 2026 | $17.55 | -8.5% |
| Q2 2026 | $15.58 | -33% |
| Q1 2026 | $13.28 | -44% |
| Q4 2025 | $13.23 | -15% |
| Q3 2025 | $19.17 | +25% |
| Q2 2025 | $23.09 | +53% |
| Q1 2025 | $23.89 | +46% |
| Q4 2024 | $15.51 | -35% |
UNH's earnings per share have fallen from their peak: $17.55 over the past year, against $23.89 in early 2025.
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 UNH on profitability, with a higher operating margin.
UNH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $112.7B | -0.4% |
| Q2 2026 | $112B | +0.4% |
| Q1 2026 | $111.7B | +2% |
| Q4 2025 | $113.2B | +12% |
| Q3 2025 | $113.2B | +12% |
| Q2 2025 | $111.6B | +13% |
| Q1 2025 | $109.6B | +9.8% |
| Q4 2024 | $100.8B | +6.8% |
UNH has the edge over ILMN on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.8% | +2 points |
| Q2 2026 | 7.1% | +2.5 points |
| Q1 2026 | 8.1% | -0.3 points |
| Q4 2025 | 0.3% | -7.4 points |
| Q3 2025 | 3.8% | -4.8 points |
| Q2 2025 | 4.6% | -3.4 points |
| Q1 2025 | 8.3% | +0.4 points |
| Q4 2024 | 7.7% | -0.4 points |
UNH's operating margin was 5.8% last quarter, up 2 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.
UNH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.3B | -16% |
| Q2 2026 | $10.3B | +63% |
| Q1 2026 | $8.1B | +79% |
| Q4 2025 | $160M | -89% |
| Q3 2025 | $5.1B | -61% |
| Q2 2025 | $6.3B | +6.9% |
| Q1 2025 | $4.6B | +1037% |
| Q4 2024 | $1.5B | +$7.6B |
UNH still generates free cash flow, though less than at its 2022 peak: $22.8B over the past year.
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 154M diluted shares, about the same as a year ago.
| 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.
UNH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -4M shares |
| 1 year | -0.7% | -6M shares |
| 3 years | -3.6% | -34M shares |
| 5 years | -5.5% | -53M shares |
| Available history | -6.6% | -64M shares |
UNH has the edge over ILMN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.4B |
| Q2 2026 | $1.6B |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $2.5B |
| Q1 2025 | $3B |
| Q4 2024 | $5B |
UNH spent $5B buying back its own shares over the past year, down 52% from the year before.
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 has the edge over UNH on leverage, with a lower net debt burden relative to earnings.
UNH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.7x | Healthy |
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.3x | Moderate |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2025 | 1.3x | Healthy |
| Q4 2024 | 1.4x | Healthy |
UNH's net debt is about 1.7 years of its operating earnings (EBITDA), about the same as a year ago.
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).
UNH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.4 | Neutral |
| Stochastic | 60.0 | Neutral |
UNH's weekly RSI is 56 (neutral) and its Stochastic is 60 (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.
UNH PE vs Healthcare Sector
| Metric | UNH | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 26x | 11% below |
| PE % | 47 | 29 | 18 pts above |
UNH 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.
UNH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $394.2 | 2.8% above |
| 20 week MA | $400.5 | 1.2% above |
| 50 week MA | $361.2 | 12% above |
| 100 week MA | $376.0 | 7.8% above |
| 200 week MA | $446.6 | 9.3% below |
UNH 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 the edge over UNH on returns for 2026, with the stronger performance.
UNH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $296.0 | $340.8 | +15% |
| 2021 | $340.8 | $495.4 | +45% |
| 2022 | $495.4 | $531.3 | +7.3% |
| 2023 | $531.3 | $526.5 | -0.9% |
| 2024 | $526.5 | $510.0 | -3.1% |
| 2025 | $510.0 | $331.8 | -35% |
| 2026 YTD | $331.8 | $405.1 | +22% |
UNH has finished three years in a row lower, and it's up 22% so far in 2026.