CDXS vs ILMN vs A Stock Comparison

Codexis, Illumina and Agilent Technologies Prices as of Oct 26, 2026 Peers: Industry group
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CDXS Codexis, Inc.
$1.30 -1.5% 1M -51.9% 1Y
Market cap
$115.64M
P/E
–
Revenue (TTM)
$77.68M
Div. yield
–
Life Sciences Tools Healthcare
2 wins
ILMN Illumina, Inc.
$271.04 +0.4% 1M +170.7% 1Y
Market cap
$42.23B
P/E
51.2x
Revenue (TTM)
$4.49B
Div. yield
–
Life Sciences Tools Healthcare
3 wins
A Agilent Technologies, Inc.
$175.96 +1.8% 1M +18.9% 1Y
Market cap
$50.15B
P/E
34.8x
Revenue (TTM)
$7.37B
Div. yield
0.01%
Life Sciences Tools Healthcare
6 wins

Head to Head

11 decided of 12

Agilent Technologies leads on 6 of the 12 questions below (Agilent Technologies 6, Illumina 3, Codexis 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionCDXSILMNALeader
Larger companyMarket capitalisation $115.64M $42.23B $50.15B A
Cheaper on earningsLower P/E, profitable companies only -3.8x 51.2x 34.8x A
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 54.3x 26.9x A
Faster revenue growthRevenue growth, trailing twelve months +35.9% +4.9% +8.6% CDXS
More profitableNet margin, trailing twelve months -39.6% 18.4% 19.5% A
Better return on capitalReturn on invested capital -35.1% 15.1% 13.1% ILMN
Less leveragedLower net debt / EBITDA 0.7x 0.7x 1.1x CDXS
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.01% –
Better 1-year returnPrice return, last 12 months -51.9% +170.7% +18.9% ILMN
Better 5-year returnAnnualised price return, 5 years -47.8%/yr -7.5%/yr +2.5%/yr A
Less volatileAnnualised volatility, 1 year 86.8% 50.4% 32.4% A
Higher overall scoreMean of the five percentile scores vs peers 44/100 65/100 62/100 ILMN

Percentile Scorecard

CDXSILMNA

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisCDXSILMNA
Valuation 40 #138 of 228 52 #111 of 228 58 #97 of 228
Growth 67 #74 of 221 44 #124 of 221 36 #141 of 221
Profitability 43 #119 of 208 97 #7 of 208 91 #20 of 208
Financial Health 30 #167 of 239 51 #118 of 239 55 #108 of 239
Shareholder Returns 43 #79 of 137 84 #23 of 137 71 #40 of 137
Overall 44 65 62
  • CDXS ranked among 248 companies in Medical Devices and Diagnostics
  • ILMN ranked among 248 companies in Medical Devices and Diagnostics
  • A ranked among 248 companies in Medical Devices and Diagnostics

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodCDXSILMNASPY
1 month -1.5%+0.4%+1.8% -0.8%
3 months -16.1%+43.1%+27.6% +3.5%
6 months -50.9%+110.9%+52.2% +7.0%
Year to date -20.2%+106.6%+29.3% +12.2%
1 year -51.9%+170.7%+18.9% +13.0%
3 years -16.1%+155.1%+71.2% +86.3%
3 years, per year -5.7%+36.7%+19.6% +23.1%
5 years -96.1%-32.4%+13.3% +68.6%
5 years, per year -47.8%-7.5%+2.5% +11.0%
10 years -70.5%+99.1%+305.7% +258.0%
10 years, per year -11.5%+7.1%+15.0% +13.6%

Risk

MeasureCDXSILMNASPY
Volatility, 1Y 86.8%50.4%32.4% 12.7%
Downside volatility, 1Y 91.4%39.1%27.5% 12.7%
Beta vs S&P 500, 1Y 1.860.810.88 1.00
Return / volatility, 1Y -0.603.390.58 1.02
Max drawdown, 5Y -97.7%-82.9%-39.6% -25.4%
From 52-week high -54.4%-7.7%-1.0% -1.8%
52-week high $2.85$293.69$177.72 $779.14
52-week low $0.98$95.03$110.24 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleCDXSILMNA
P/E now vs peer median -3.9xmedian 30.6x 49.6xmedian 30.6x 34.5xmedian 30.6x
P/S now vs peer median 1.5xmedian 3.0x 9.1xmedian 3.0x 6.7xmedian 3.0x
EV/EBITDA now vs peer median -5.0xmedian 17.5x 36.2xmedian 17.5x 27.1xmedian 17.5x
P/FCF now vs peer median -9.8xmedian 23.3x 44.0xmedian 23.3x 39.2xmedian 23.3x
P/B now vs peer median 3.6xmedian 2.4x 14.4xmedian 2.4x 6.7xmedian 2.4x
PEG now vs peer median -0.15median 0.87 1.65median 0.87 3.51median 0.87

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsCDXSILMNA
Revenue $77.68M $4.49B $7.37B
Gross profit $67.60M $2.98B $3.97B
Operating income -$27.66M $882.00M $1.64B
Net income -$30.72M $825.00M $1.44B
Free cash flow -$12.18M $931.00M $1.27B
R&D $48.74M $960.00M $485.00M
EPS (diluted) $-0.34 $5.39 $5.09
Cash & equivalents $27.17M $1.04B $1.76B
Total debt $40.88M $1.99B $3.95B
Shares (diluted) 91.05M 153.00M 283.00M
Enterprise value -$141.41M $36.99B $43.03B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricCDXSILMNA
P/E -3.9x 49.6x 34.5x
P/FCF -9.8x 44.0x 39.2x
P/Operating cash flow -11.4x 37.4x 30.8x
P/S 1.5x 9.1x 6.7x
P/B 3.6x 14.4x 6.7x
P/Tangible book 3.6x 16.9x 7.7x
EV/EBITDA -5.0x 36.2x 27.1x
EV/EBIT -3.8x 47.3x 31.6x
EV/Revenue 1.3x 9.3x 7.0x
EV/FCF -8.6x 44.8x 40.9x
EV/Operating cash flow -10.1x 38.1x 32.2x
PEG (3Y EPS CAGR) -0.15 1.65 3.51

Growth

14 metrics
MetricCDXSILMNA
Revenue growth (1Y) 35.9% 4.9% 8.6%
Revenue CAGR (3Y) -7.8% -1.0% 1.8%
Gross profit growth (1Y) 52.4% 4.6% 11.2%
Gross profit CAGR (3Y) -2.6% 2.9% 3.7%
Operating income growth (1Y) 51.7% -31.8% 13.5%
Operating income CAGR (3Y) 22.8% 28.3% 5.1%
Net income growth (1Y) 52.7% -34.4% 18.0%
Net income CAGR (3Y) 18.5% 30.0% 8.3%
EPS growth (1Y) 55.7% -32.7% 18.9%
EPS CAGR (3Y) 26.2% 30.1% 9.8%
Operating cash flow growth (1Y) 83.0% -5.1% 7.6%
Operating cash flow CAGR (3Y) -152.3% 38.1% -1.9%
Free cash flow growth (1Y) 82.0% -9.7% 16.5%
Free cash flow CAGR (3Y) -26.3% 105.0% -3.7%

Profitability

14 metrics
MetricCDXSILMNA
Gross margin 87.0% 66.4% 53.8%
EBITDA margin -27.0% 25.7% 25.9%
Operating margin -35.6% 19.6% 22.2%
Pretax margin -39.5% 22.6% 22.5%
Net margin -39.6% 18.4% 19.5%
FCF margin -15.7% 20.7% 17.2%
Operating cash flow margin -13.4% 24.4% 21.8%
Return on equity -80.6% 29.9% 19.9%
Return on assets -24.6% 12.5% 10.7%
Return on invested capital -35.1% 15.1% 13.1%
Return on capital employed -27.3% 17.5% 14.6%
Asset turnover 0.6x 0.7x 0.5x
Cash conversion (OCF / net income) 0.3x 1.3x 1.1x
Stock comp / revenue 9.9% 5.9% 1.8%

Financial Health

11 metrics
MetricCDXSILMNA
Debt / assets 34.0% 29.9% 28.3%
Debt / equity 1.2x 0.7x 0.5x
Net debt / EBITDA 0.7x 0.7x 1.1x
Debt / FCF -3.4x 2.1x 3.1x
Liabilities / assets 72.5% 57.3% 47.3%
Equity / assets 27.5% 42.7% 52.7%
Interest coverage – 8.9x 15.5x
Current ratio 3.1x 1.8x 2.1x
Quick ratio 2.9x 1.2x 1.4x
Cash ratio 2.3x 0.7x 0.8x
Altman Z-score -6.13 7.77 5.82

Shareholder Returns

7 metrics
MetricCDXSILMNA
Dividend yield – – 0.6%
Net buyback yield -0.3% 1.2% 0.6%
Shareholder yield -0.3% 1.2% 1.2%
Payout ratio (earnings) – – 19.9%
Payout ratio (FCF) – – 22.6%
Dividend growth (1Y) – – 2.1%
Dividend CAGR (3Y) – – 3.1%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusCDXSILMNA
Forward P/E – 54.3xFY2026 26.9xFY2026
EPS, next fiscal year $-0.37FY2026 $4.99FY2026 $6.54FY2026
EPS growth, next FY – +3.1%FY2026 +17.0%FY2026
EPS growth, the year after – +25.7% +0.3%
Revenue, next fiscal year $77.93MFY2026 $4.52BFY2026 $7.87BFY2026
Revenue growth, next FY +10.7%FY2026 +4.1%FY2026 +15.3%FY2026
Revenue growth, the year after +9.2% +12.0% -5.6%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersCDXSILMNA
Held by institutions 71.0% 100.0% 92.6%
Institutions holding 148 933 1,122
Change in shares held, QoQ -2.4% +0.0% +3.2%
Institutions buying 88 463 599
Institutions selling 36 330 350
Buyers to sellers 2.44 1.40 1.71

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

CDXSILMNA
CDXS 1.00 0.03 0.12
ILMN 0.03 1.00 0.48
A 0.12 0.48 1.00

Add a Peer

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Frequently Asked Questions

Which is bigger, CDXS, ILMN and A?

Agilent Technologies (A) is the largest by market capitalisation: Codexis (CDXS) $115.64M, Illumina (ILMN) $42.23B, Agilent Technologies (A) $50.15B.

Which stock is cheaper, CDXS, ILMN and A?

Agilent Technologies (A) trades on the lowest price-to-earnings ratio (Codexis (CDXS) -3.8x, Illumina (ILMN) 51.2x, Agilent Technologies (A) 34.8x). On next year's consensus earnings, Agilent Technologies (A) is cheapest (Illumina (ILMN) 54.3x, Agilent Technologies (A) 26.9x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Codexis (CDXS) grew revenue fastest over the trailing twelve months: Codexis (CDXS) +35.9%, Illumina (ILMN) +4.9%, Agilent Technologies (A) +8.6%.

Which company is more profitable?

Agilent Technologies (A) has the highest net margin (Codexis (CDXS) -39.6%, Illumina (ILMN) 18.4%, Agilent Technologies (A) 19.5%). On return on invested capital, Illumina (ILMN) leads (Codexis (CDXS) -35.1%, Illumina (ILMN) 15.1%, Agilent Technologies (A) 13.1%).

Which stock has performed better?

Over the past year Illumina (ILMN) returned the most: Codexis (CDXS) -51.9%, Illumina (ILMN) +170.7%, Agilent Technologies (A) +18.9%. Over five years, Agilent Technologies (A) compounded fastest (Codexis (CDXS) -47.8%/yr, Illumina (ILMN) -7.5%/yr, Agilent Technologies (A) +2.5%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Codexis (CDXS) 0.00%, Illumina (ILMN) 0.00%, Agilent Technologies (A) 0.01%. Codexis (CDXS) and Illumina (ILMN) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Agilent Technologies (A) has been the steadiest (Codexis (CDXS) 86.8%, Illumina (ILMN) 50.4%, Agilent Technologies (A) 32.4%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, CDXS, ILMN and A?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Agilent Technologies (A) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.