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Stock Comparison

INCY vs LLY vs PFE vs BMY

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
INCY
Incyte Corporation

Biotechnology

HealthcareNASDAQ • US
Market Cap$19.53B
5Y Perf.-4.1%
LLY
Eli Lilly and Company

Drug Manufacturers - General

HealthcareNYSE • US
Market Cap$921.16B
5Y Perf.+537.4%
PFE
Pfizer Inc.

Drug Manufacturers - General

HealthcareNYSE • US
Market Cap$150.63B
5Y Perf.-26.9%
BMY
Bristol-Myers Squibb Company

Drug Manufacturers - General

HealthcareNYSE • US
Market Cap$114.85B
5Y Perf.-5.8%

INCY vs LLY vs PFE vs BMY — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
INCY logoINCY
LLY logoLLY
PFE logoPFE
BMY logoBMY
IndustryBiotechnologyDrug Manufacturers - GeneralDrug Manufacturers - GeneralDrug Manufacturers - General
Market Cap$19.53B$921.16B$150.63B$114.85B
Revenue (TTM)$5.36B$72.25B$63.31B$48.48B
Net Income (TTM)$1.43B$25.27B$7.49B$7.28B
Gross Margin91.9%83.5%69.3%68.7%
Operating Margin26.8%45.9%23.4%25.7%
Forward P/E13.1x28.2x8.9x8.9x
Total Debt$69M$42.50B$67.42B$47.14B
Cash & Equiv.$3.10B$7.16B$1.14B$10.21B

INCY vs LLY vs PFE vs BMYLong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

INCY
LLY
PFE
BMY
StockMay 20May 26Return
Incyte Corporation (INCY)10095.9-4.1%
Eli Lilly and Compa… (LLY)100637.4+537.4%
Pfizer Inc. (PFE)10073.1-26.9%
Bristol-Myers Squib… (BMY)10094.2-5.8%

Price return only. Dividends and distributions are not included.

Quick Verdict: INCY vs LLY vs PFE vs BMY

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: LLY leads in 3 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Bristol-Myers Squibb Company is the stronger pick specifically for valuation and capital efficiency and capital preservation and lower volatility. INCY and PFE also each lead in at least one category. As sector peers, any of these can serve as alternatives in the same allocation.
INCY
Incyte Corporation
The Momentum Pick

INCY is the clearest fit if your priority is momentum.

  • +64.2% vs BMY's +23.4%
Best for: momentum
LLY
Eli Lilly and Company
The Growth Play

LLY carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.

  • Rev growth 44.7%, EPS growth 96.0%, 3Y rev CAGR 31.7%
  • 12.4% 10Y total return vs INCY's 34.2%
  • 44.7% revenue growth vs PFE's -1.6%
  • 35.0% margin vs PFE's 11.8%
Best for: growth exposure and long-term compounding
PFE
Pfizer Inc.
The Income Pick

PFE is the clearest fit if your priority is income & stability.

  • Dividend streak 15 yrs, beta 0.54, yield 6.5%
  • 6.5% yield, 15-year raise streak, vs LLY's 0.6%, (1 stock pays no dividend)
Best for: income & stability
BMY
Bristol-Myers Squibb Company
The Defensive Pick

BMY is the #2 pick in this set and the best alternative if sleep-well-at-night and defensive is your priority.

  • Lower volatility, beta 0.50, current ratio 1.26x
  • Beta 0.50, yield 4.4%, current ratio 1.26x
  • Lower P/E (8.9x vs 8.9x)
  • Beta 0.50 vs INCY's 0.87
Best for: sleep-well-at-night and defensive
See the full category breakdown
CategoryWinnerWhy
GrowthLLY logoLLY44.7% revenue growth vs PFE's -1.6%
ValueBMY logoBMYLower P/E (8.9x vs 8.9x)
Quality / MarginsLLY logoLLY35.0% margin vs PFE's 11.8%
Stability / SafetyBMY logoBMYBeta 0.50 vs INCY's 0.87
DividendsPFE logoPFE6.5% yield, 15-year raise streak, vs LLY's 0.6%, (1 stock pays no dividend)
Momentum (1Y)INCY logoINCY+64.2% vs BMY's +23.4%
Efficiency (ROA)LLY logoLLY22.7% ROA vs PFE's 3.6%, ROIC 41.8% vs 7.5%

INCY vs LLY vs PFE vs BMY — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

INCYIncyte Corporation
FY 2025
J A K A F I
71.3%$3.6B
OPZELURA
13.6%$678M
Milestone And Contract Revenue
3.0%$150M
Olumiant Royalty
2.9%$145M
M I N J U V I
2.9%$145M
I C L U S I G
2.7%$134M
PEMAZYRE Royalty Revenues
1.7%$87M
Other (2)
1.9%$93M
LLYEli Lilly and Company
FY 2025
Product
93.5%$61.0B
Collaboration and Other Revenue
6.5%$4.2B
PFEPfizer Inc.
FY 2025
Biopharma Segment
97.8%$61.2B
Segment Reporting, Reconciling Item, Corporate Nonsegment
2.2%$1.4B
BMYBristol-Myers Squibb Company
FY 2025
Eliquis
30.0%$14.4B
Opdivo
20.9%$10.0B
Orencia
7.7%$3.7B
Revlimid
6.1%$3.0B
Yervoy
6.0%$2.9B
Pomalyst/Imnovid
5.7%$2.7B
Reblozyl
4.8%$2.3B
Other (13)
18.9%$9.1B

INCY vs LLY vs PFE vs BMY — Financial Metrics

Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLLLYLAGGINGBMY

Income & Cash Flow (Last 12 Months)

LLY leads this category, winning 4 of 6 comparable metrics.

LLY is the larger business by revenue, generating $72.2B annually — 13.5x INCY's $5.4B. LLY is the more profitable business, keeping 35.0% of every revenue dollar as net income compared to PFE's 11.8%. On growth, LLY holds the edge at +55.5% YoY revenue growth, suggesting stronger near-term business momentum.

MetricINCY logoINCYIncyte CorporationLLY logoLLYEli Lilly and Com…PFE logoPFEPfizer Inc.BMY logoBMYBristol-Myers Squ…
RevenueTrailing 12 months$5.4B$72.2B$63.3B$48.5B
EBITDAEarnings before interest/tax$1.5B$34.7B$21.0B$15.7B
Net IncomeAfter-tax profit$1.4B$25.3B$7.5B$7.3B
Free Cash FlowCash after capex$1.5B$13.6B$9.5B$11.9B
Gross MarginGross profit ÷ Revenue+91.9%+83.5%+69.3%+68.7%
Operating MarginEBIT ÷ Revenue+26.8%+45.9%+23.4%+25.7%
Net MarginNet income ÷ Revenue+26.7%+35.0%+11.8%+15.0%
FCF MarginFCF ÷ Revenue+27.1%+18.8%+15.0%+24.6%
Rev. Growth (YoY)Latest quarter vs prior year+20.9%+55.5%+5.4%+2.6%
EPS Growth (YoY)Latest quarter vs prior year+83.8%+169.9%-9.5%+9.2%
LLY leads this category, winning 4 of 6 comparable metrics.

Valuation Metrics

BMY leads this category, winning 4 of 6 comparable metrics.

At 15.3x trailing earnings, INCY trades at a 64% valuation discount to LLY's 42.5x P/E. On an enterprise value basis, BMY's 9.2x EV/EBITDA is more attractive than LLY's 30.6x.

MetricINCY logoINCYIncyte CorporationLLY logoLLYEli Lilly and Com…PFE logoPFEPfizer Inc.BMY logoBMYBristol-Myers Squ…
Market CapShares × price$19.5B$921.2B$150.6B$114.8B
Enterprise ValueMkt cap + debt − cash$16.5B$956.5B$216.9B$151.8B
Trailing P/EPrice ÷ TTM EPS15.25x42.48x19.47x16.30x
Forward P/EPrice ÷ next-FY EPS est.13.06x28.24x8.94x8.93x
PEG RatioP/E ÷ EPS growth rate1.47x
EV / EBITDAEnterprise value multiple11.49x30.60x10.66x9.17x
Price / SalesMarket cap ÷ Revenue3.80x14.13x2.41x2.38x
Price / BookPrice ÷ Book value/share3.80x32.99x1.74x6.20x
Price / FCFMarket cap ÷ FCF14.42x102.67x16.60x8.94x
BMY leads this category, winning 4 of 6 comparable metrics.

Profitability & Efficiency

INCY leads this category, winning 5 of 9 comparable metrics.

LLY delivers a 101.2% return on equity — every $100 of shareholder capital generates $101 in annual profit, vs $8 for PFE. INCY carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to BMY's 2.55x. On the Piotroski fundamental quality scale (0–9), LLY scores 8/9 vs PFE's 7/9, reflecting strong financial health.

MetricINCY logoINCYIncyte CorporationLLY logoLLYEli Lilly and Com…PFE logoPFEPfizer Inc.BMY logoBMYBristol-Myers Squ…
ROE (TTM)Return on equity+29.3%+101.2%+8.3%+39.0%
ROA (TTM)Return on assets+21.7%+22.7%+3.6%+7.9%
ROICReturn on invested capital+51.1%+41.8%+7.5%+16.9%
ROCEReturn on capital employed+29.0%+46.6%+9.0%+18.7%
Piotroski ScoreFundamental quality 0–97878
Debt / EquityFinancial leverage0.01x1.60x0.78x2.55x
Net DebtTotal debt minus cash-$3.0B$35.3B$66.3B$36.9B
Cash & Equiv.Liquid assets$3.1B$7.2B$1.1B$10.2B
Total DebtShort + long-term debt$69M$42.5B$67.4B$47.1B
Interest CoverageEBIT ÷ Interest expense759.79x35.68x4.02x10.33x
INCY leads this category, winning 5 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

LLY leads this category, winning 4 of 6 comparable metrics.

A $10,000 investment in LLY five years ago would be worth $51,115 today (with dividends reinvested), compared to $8,674 for PFE. Over the past 12 months, INCY leads with a +64.2% total return vs BMY's +23.4%. The 3-year compound annual growth rate (CAGR) favors LLY at 31.8% vs PFE's -6.6% — a key indicator of consistent wealth creation.

MetricINCY logoINCYIncyte CorporationLLY logoLLYEli Lilly and Com…PFE logoPFEPfizer Inc.BMY logoBMYBristol-Myers Squ…
YTD ReturnYear-to-date-3.6%-9.6%+6.9%+7.6%
1-Year ReturnPast 12 months+64.2%+26.3%+23.7%+23.4%
3-Year ReturnCumulative with dividends+48.6%+129.1%-18.4%-7.1%
5-Year ReturnCumulative with dividends+18.2%+411.1%-13.3%+5.2%
10-Year ReturnCumulative with dividends+34.2%+1237.7%+29.6%+6.7%
CAGR (3Y)Annualised 3-year return+14.1%+31.8%-6.6%-2.4%
LLY leads this category, winning 4 of 6 comparable metrics.

Risk & Volatility

Evenly matched — PFE and BMY each lead in 1 of 2 comparable metrics.

BMY is the less volatile stock with a 0.50 beta — it tends to amplify market swings less than INCY's 0.87 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. PFE currently trades 92.1% from its 52-week high vs LLY's 86.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricINCY logoINCYIncyte CorporationLLY logoLLYEli Lilly and Com…PFE logoPFEPfizer Inc.BMY logoBMYBristol-Myers Squ…
Beta (5Y)Sensitivity to S&P 5000.87x0.71x0.54x0.50x
52-Week HighHighest price in past year$112.29$1133.95$28.75$62.89
52-Week LowLowest price in past year$57.77$623.78$21.97$42.52
% of 52W HighCurrent price vs 52-week peak+87.1%+86.0%+92.1%+89.4%
RSI (14)Momentum oscillator 0–10059.461.444.241.4
Avg Volume (50D)Average daily shares traded1.4M2.6M33.3M10.3M
Evenly matched — PFE and BMY each lead in 1 of 2 comparable metrics.

Analyst Outlook

PFE leads this category, winning 2 of 2 comparable metrics.

Analyst consensus: INCY as "Buy", LLY as "Buy", PFE as "Hold", BMY as "Hold". Consensus price targets imply 29.1% upside for LLY (target: $1258) vs 3.0% for PFE (target: $27). For income investors, PFE offers the higher dividend yield at 6.49% vs LLY's 0.61%.

MetricINCY logoINCYIncyte CorporationLLY logoLLYEli Lilly and Com…PFE logoPFEPfizer Inc.BMY logoBMYBristol-Myers Squ…
Analyst RatingConsensus buy/hold/sellBuyBuyHoldHold
Price TargetConsensus 12-month target$109.50$1258.47$27.27$62.00
# AnalystsCovering analysts44453941
Dividend YieldAnnual dividend ÷ price+0.6%+6.5%+4.4%
Dividend StreakConsecutive years of raises11156
Dividend / ShareAnnual DPS$6.00$1.72$2.47
Buyback YieldShare repurchases ÷ mkt cap+0.1%+0.4%0.0%0.0%
PFE leads this category, winning 2 of 2 comparable metrics.
Key Takeaway

LLY leads in 2 of 6 categories (Income & Cash Flow, Total Returns). BMY leads in 1 (Valuation Metrics). 1 tied.

Best OverallEli Lilly and Company (LLY)Leads 2 of 6 categories
Loading custom metrics...

INCY vs LLY vs PFE vs BMY: Key Questions Answered

10 questions · data-driven answers · updated daily

01

Is INCY or LLY or PFE or BMY a better buy right now?

For growth investors, Eli Lilly and Company (LLY) is the stronger pick with 44.

7% revenue growth year-over-year, versus -1. 6% for Pfizer Inc. (PFE). Incyte Corporation (INCY) offers the better valuation at 15. 3x trailing P/E (13. 1x forward), making it the more compelling value choice. Analysts rate Incyte Corporation (INCY) a "Buy" — based on 44 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

02

Which has the better valuation — INCY or LLY or PFE or BMY?

On trailing P/E, Incyte Corporation (INCY) is the cheapest at 15.

3x versus Eli Lilly and Company at 42. 5x. On forward P/E, Bristol-Myers Squibb Company is actually cheaper at 8. 9x — notably different from the trailing picture, reflecting expected earnings growth.

03

Which is the better long-term investment — INCY or LLY or PFE or BMY?

Over the past 5 years, Eli Lilly and Company (LLY) delivered a total return of +411.

1%, compared to -13. 3% for Pfizer Inc. (PFE). Over 10 years, the gap is even starker: LLY returned +1238% versus BMY's +6. 7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

04

Which is safer — INCY or LLY or PFE or BMY?

By beta (market sensitivity over 5 years), Bristol-Myers Squibb Company (BMY) is the lower-risk stock at 0.

50β versus Incyte Corporation's 0. 87β — meaning INCY is approximately 74% more volatile than BMY relative to the S&P 500. On balance sheet safety, Incyte Corporation (INCY) carries a lower debt/equity ratio of 1% versus 3% for Bristol-Myers Squibb Company — giving it more financial flexibility in a downturn.

05

Which is growing faster — INCY or LLY or PFE or BMY?

By revenue growth (latest reported year), Eli Lilly and Company (LLY) is pulling ahead at 44.

7% versus -1. 6% for Pfizer Inc. (PFE). On earnings-per-share growth, the picture is similar: Incyte Corporation grew EPS 41. 7% year-over-year, compared to -3. 5% for Pfizer Inc.. Over a 3-year CAGR, LLY leads at 31. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

06

Which has better profit margins — INCY or LLY or PFE or BMY?

Eli Lilly and Company (LLY) is the more profitable company, earning 31.

7% net margin versus 12. 4% for Pfizer Inc. — meaning it keeps 31. 7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: LLY leads at 45. 6% versus 24. 7% for PFE. At the gross margin level — before operating expenses — INCY leads at 91. 5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

07

Is INCY or LLY or PFE or BMY more undervalued right now?

On forward earnings alone, Bristol-Myers Squibb Company (BMY) trades at 8.

9x forward P/E versus 28. 2x for Eli Lilly and Company — 19. 3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for LLY: 29. 1% to $1258. 47.

08

Which pays a better dividend — INCY or LLY or PFE or BMY?

In this comparison, PFE (6.

5% yield), BMY (4. 4% yield), LLY (0. 6% yield) pay a dividend. INCY does not pay a meaningful dividend and should not be held primarily for income.

09

Is INCY or LLY or PFE or BMY better for a retirement portfolio?

For long-horizon retirement investors, Eli Lilly and Company (LLY) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.

71), 0. 6% yield, +1238% 10Y return). Both have compounded well over 10 years (LLY: +1238%, INCY: +34. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

10

What are the main differences between INCY and LLY and PFE and BMY?

Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: INCY is a mid-cap high-growth stock; LLY is a large-cap high-growth stock; PFE is a mid-cap income-oriented stock; BMY is a mid-cap deep-value stock. LLY, PFE, BMY pay a dividend while INCY does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.

Find Stocks Like These

Explore pre-built screens for each stock's profile, or build a custom screen to find stocks that outperform all of them.

Stocks Like

INCY

High-Growth Quality Leader

  • Sector: Healthcare
  • Market Cap > $100B
  • Revenue Growth > 10%
  • Net Margin > 16%
Run This Screen
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LLY

High-Growth Quality Leader

  • Sector: Healthcare
  • Market Cap > $100B
  • Revenue Growth > 27%
  • Net Margin > 20%
Run This Screen
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PFE

Income & Dividend Stock

  • Sector: Healthcare
  • Market Cap > $100B
  • Revenue Growth > 5%
  • Net Margin > 7%
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BMY

Income & Dividend Stock

  • Sector: Healthcare
  • Market Cap > $100B
  • Net Margin > 9%
  • Dividend Yield > 1.7%
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Beat Both

Find stocks that outperform INCY and LLY and PFE and BMY on the metrics below

Revenue Growth>
%
(INCY: 20.9% · LLY: 55.5%)
Net Margin>
%
(INCY: 26.7% · LLY: 35.0%)
P/E Ratio<
x
(INCY: 15.3x · LLY: 42.5x)

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