Incyte Corporation(INCY)Earnings, Financials & Key Ratios

INCY•NASDAQ

$97.47

$19.47B mkt cap·15.2× P/E·Price updated May 6, 2026

SectorHealthcare IndustryBiotechnology Sub-IndustryOncology Therapeutics Developers

AboutIncyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia. Its clinical stage products include ruxolitinib, a steroid-refractory chronic graft-versus-host-diseases (GVHD); itacitinib, which is in Phase II/III clinical trial to treat naive chronic GVHD; and pemigatinib for treating bladder cancer, cholangiocarcinoma, myeloproliferative syndrome, and tumor agnostic. In addition, the company engages in developing Parsaclisib, which is in Phase II clinical trial for follicular lymphoma, marginal zone lymphoma, and mantel cell lymphoma. Additionally, it develops Retifanlimab that is in Phase II clinical trials for MSI-high endometrial cancer, merkel cell carcinoma, and anal cancer, as well as in Phase II clinical trials for patients with non-small cell lung cancer. It has collaboration agreements with Novartis International Pharmaceutical Ltd.; Eli Lilly and Company; Agenus Inc.; Calithera Biosciences, Inc; MacroGenics, Inc.; Merus N.V.; Syros Pharmaceuticals, Inc.; Innovent Biologics, Inc.; Zai Lab Limited; Cellenkos, Inc.; and Nimble Therapeutics, as well as clinical collaborations with MorphoSys AG and Xencor, Inc. to investigate the combination of tafasitamab, plamotamab, and lenalidomide in patients with relapsed or refractory diffuse large B-cell lymphoma, and relapsed or refractory follicular lymphoma. The company was incorporated in 1991 and is headquartered in Wilmington, Delaware.Show more

Revenue$5.14B+21.2%
EBITDA$1.44B+747.8%
Net Income$1.29B+3845.0%
EPS (Diluted)6.41+4173.3%
Gross Margin91.47%+0.4%
EBITDA Margin27.93%+599.4%
Operating Margin26.12%+1282.2%
Net Margin25.03%+3154.4%
ROE29.87%+3855.2%
ROIC51.09%+1522.6%
Debt/Equity0.01+6.4%
Interest Coverage686.52+390.8%

Analysis→Technical→

INCY Key Insights

Incyte Corporation (INCY) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Company is almost debt free
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 26.3% free cash flow margin
✓Strong 5Y sales CAGR of 14.0%
✓Share count reduced 4.7% through buybacks
✓Healthy 5Y average net margin of 16.8%

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

INCY Price & Volume

Incyte Corporation (INCY) stock price & volume — 10-year historical chart

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INCY Growth Metrics

Incyte Corporation (INCY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years21.17%

5 Years14.03%

3 Years14.84%

TTM21.48%

Profit CAGR

10 Years69.61%

5 Years-

3 Years55.73%

TTM6631.44%

EPS CAGR

10 Years70.99%

5 Years-

3 Years61.56%

TTM2112.5%

Return on Capital

10 Years9.16%

5 Years15.08%

3 Years14.5%

Last Year29.05%

INCY Recent Earnings

Incyte Corporation (INCY) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 6/12 qtrs (50%)●Beat Revenue 7/12 qtrs (58%)

Q2 2026Latest

Apr 28, 2026

EPS

$1.81

Est $1.38

+31.2%

Revenue

$1.3B

Est $1.2B

+4.7%

Q1 2026

Feb 10, 2026

EPS

$1.80

Est $1.90

-5.3%

Revenue

$1.5B

Est $1.4B

+11.2%

Q4 2025

Oct 28, 2025

EPS

$2.26

Est $1.66

+36.1%

Revenue

$1.4B

Est $1.4B

+0.9%

Q3 2025

Jul 29, 2025

EPS

$1.57

Est $1.39

+12.9%

Revenue

$1.2B

Est $1.3B

-3.3%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 28, 2026	$1.81vs $1.38+31.2%	$1.3Bvs $1.2B+4.7%
Q1 2026	Feb 10, 2026	$1.80vs $1.90-5.3%	$1.5Bvs $1.4B+11.2%
Q4 2025	Oct 28, 2025	$2.26vs $1.66+36.1%	$1.4Bvs $1.4B+0.9%
Q3 2025	Jul 29, 2025	$1.57vs $1.39+12.9%	$1.2Bvs $1.3B-3.3%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	FCF Yield	Debt / Equity
ALKSAlkermes plcDirect Competitor	6.12B	36.25	25.35	-5.25%	16.37%	14.45%	7.85%	0.04
JAZZJazz Pharmaceuticals plcDirect Competitor	13.32B	212.26	-36.35	4.88%	0.66%	0.71%	9.74%	1.26
EXELExelixis, Inc.Direct Competitor	11.28B	44.42	15.98	6.98%	35.08%	40.21%	7.48%	0.08
HALOHalozyme Therapeutics, Inc.Direct Competitor	7.76B	65.87	25.73	37.55%	22.69%	6.49%	8.31%
IONSIonis Pharmaceuticals, Inc.Direct Competitor	12.44B	75.25	-31.62	33.87%	-30.87%	-58.57%		5.35
ACADACADIA Pharmaceuticals Inc.Direct Competitor	3.78B	22.35	16.43	31.85%	24.94%	28.47%	4.16%	0.07
BMYBristol-Myers Squibb CompanyProduct Competitor	116.22B	56.92	16.50	-0.22%	15.01%	38.96%	11.05%	2.55
ABBVAbbVie Inc.Product Competitor	364.63B	206.15	86.98	8.57%	6.91%	62.15%	4.89%

Compare INCY vs Peers

Incyte Corporation (INCY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ALKS

Most directly comparable listed peer for INCY.

Scale Benchmark

vs LLY

Larger-name benchmark to compare INCY against a more recognizable public peer.

Peer Set

Compare Top 5

vs ALKS, JAZZ, EXEL, HALO

INCY Income Statement

Incyte Corporation (INCY) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Sales/Revenue	1.54B	1.88B	2.16B	2.67B	2.99B	3.39B	3.7B	4.24B	5.14B	5.36B
Revenue Growth %	38.93%	22.5%	14.71%	23.53%	11.98%	13.67%	8.87%	14.76%	21.22%	21.48%
Cost of Goods Sold	110.16M	127.59M	147.28M	161.63M	187.34M	253.35M	315.15M	377.72M	438.72M	436.56M
COGS % of Revenue	7.17%	6.78%	6.82%	6.06%	6.27%	7.46%	8.53%	8.91%	8.53%	-
Gross Profit	1.43B▲ 0%	1.75B▲ 23.0%	2.01B▲ 14.7%	2.51B▲ 24.5%	2.8B▲ 11.7%	3.14B▲ 12.2%	3.38B▲ 7.6%	3.86B▲ 14.3%	4.7B▲ 21.7%	4.92B▲ 0%
Gross Margin %	92.83%	93.22%	93.18%	93.94%	93.73%	92.54%	91.47%	91.09%	91.47%	91.86%
Gross Profit Growth %	42.36%	23.02%	14.66%	24.54%	11.73%	12.23%	7.62%	14.29%	21.72%	-
Operating Expenses	1.66B	1.6B	1.59B	2.75B	2.16B	2.54B	2.73B	3.78B	3.36B	3.49B
OpEx % of Revenue	108.17%	84.96%	73.64%	102.95%	72.38%	74.87%	73.84%	89.2%	65.35%	-
Selling, General & Admin	335.61M	400.94M	435.68M	516.9M	703.22M	955.78M	1.1B	1.18B	1.38B	1.38B
SG&A % of Revenue	21.85%	21.31%	20.18%	19.38%	23.55%	28.16%	29.8%	27.74%	26.77%	-
Research & Development	1.33B	1.2B	1.15B	2.22B	1.46B	1.59B	1.63B	2.61B	1.98B	2.1B
R&D % of Revenue	86.32%	63.66%	53.46%	83.1%	48.83%	46.72%	44.04%	61.46%	38.58%	-
Other Operating Expenses	0	0	0	12.52M	0	0	0	0	0	0
Operating Income	-235.68M▲ 0%	155.4M▲ 165.9%	421.69M▲ 171.4%	-240.29M▼ 157.0%	637.54M▲ 365.3%	599.56M▼ 6.0%	651.77M▲ 8.7%	80.14M▼ 87.7%	1.34B▲ 1575.4%	1.44B▲ 0%
Operating Margin %	-15.34%	8.26%	19.53%	-9.01%	21.35%	17.66%	17.64%	1.89%	26.12%	26.85%
Operating Income Growth %	-243.69%	165.93%	171.36%	-156.98%	365.32%	-5.96%	8.71%	-87.7%	1575.43%	-
EBITDA	-183.5M	210.37M	476.22M	-188.48M	695.38M	667.42M	734.43M	169.39M	1.44B	1.53B
EBITDA Margin %	-11.95%	11.18%	22.06%	-7.07%	23.29%	19.66%	19.87%	3.99%	27.93%	28.62%
EBITDA Growth %	-182.49%	214.64%	126.38%	-139.58%	468.93%	-4.02%	10.04%	-76.94%	747.76%	418.04%
D&A (Non-Cash Add-back)	52.18M	54.97M	54.53M	51.81M	57.84M	67.86M	82.66M	89.25M	93.29M	94.73M
EBIT	-305.39M	116.89M	488.65M	-230.04M	572.35M	531.78M	836.77M	318.91M	1.67B	1.78B
Net Interest Income	-6.9M	-1.54M	-1.85M	-2.17M	-1.91M	-2.67M	-2.55M	126.43M	103.17M	114.02M
Interest Income	0	0	0	0	0	0	0	128.71M	105.6M	116.36M
Interest Expense	6.9M	1.54M	1.85M	2.17M	1.91M	2.67M	2.55M	2.28M	2.43M	2.34M
Other Income/Expense	-76.61M	-40.05M	65.1M	8.07M	-67.09M	-70.45M	182.44M	236.49M	321.7M	334.53M
Pretax Income	-312.29M▲ 0%	115.35M▲ 136.9%	486.79M▲ 322.0%	-232.22M▼ 147.7%	570.44M▲ 345.7%	529.12M▼ 7.2%	834.22M▲ 57.7%	316.63M▼ 62.0%	1.66B▲ 425.7%	1.77B▲ 0%
Pretax Margin %	-20.33%	6.13%	22.55%	-8.71%	19.1%	15.59%	22.57%	7.47%	32.37%	33.09%
Income Tax	852K	5.85M	39.88M	63.48M	-378.14M	188.46M	236.62M	284.01M	377.8M	342.08M
Effective Tax Rate %	-0.27%	5.08%	8.19%	-27.34%	-66.29%	35.62%	28.36%	89.7%	22.7%	19.28%
Net Income	-313.14M▲ 0%	109.49M▲ 135.0%	446.91M▲ 308.2%	-295.7M▼ 166.2%	948.58M▲ 420.8%	340.66M▼ 64.1%	597.6M▲ 75.4%	32.62M▼ 94.5%	1.29B▲ 3845.0%	1.43B▲ 0%
Net Margin %	-20.38%	5.82%	20.7%	-11.09%	31.76%	10.04%	16.17%	0.77%	25.03%	26.71%
Net Income Growth %	-400.46%	134.97%	308.16%	-166.17%	420.79%	-64.09%	75.42%	-94.54%	3844.96%	6631.44%
Net Income (Continuing)	-313.14M	109.49M	446.91M	-295.7M	948.58M	340.66M	597.6M	32.62M	1.29B	1.43B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)	-1.53▲ 0%	0.51▲ 133.3%	2.05▲ 302.0%	-1.36▼ 166.3%	4.27▲ 414.0%	1.52▼ 64.4%	2.65▲ 74.3%	0.15▼ 94.3%	6.41▲ 4173.3%	6.92▲ 0%
EPS Growth %	-383.33%	133.33%	301.96%	-166.34%	413.97%	-64.4%	74.34%	-94.34%	4173.33%	2112.5%
EPS (Basic)	-1.53	0.52	2.08	-1.36	4.30	1.53	2.67	0.16	6.59	-
Diluted Shares Outstanding	204.58M	215.63M	217.66M	218.07M	222.07M	223.96M	225.93M	210.53M	200.7M	206.83M
Basic Shares Outstanding	204.58M	212.38M	214.91M	218.07M	220.43M	222M	223.63M	207.11M	195.2M	199.34M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

INCY Balance Sheet

Incyte Corporation (INCY) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Current Assets	1.5B	1.83B	2.48B	2.36B	3.12B	4.09B	4.65B	3.24B	5.02B	5.48B
Cash & Short-Term Investments	1.17B	1.44B	2.12B	1.8B	2.35B	3.24B	3.66B	2.16B	3.58B	4.02B
Cash Only	899.51M	1.16B	1.83B	1.51B	2.06B	2.95B	3.21B	1.69B	3.1B	3.46B
Short-Term Investments	270.14M	274.34M	284.87M	288.37M	290.75M	287.54M	442.67M	470.26M	482.79M	554.71M
Accounts Receivable	266.3M	307.6M	308.81M	481.99M	616.3M	644.88M	743.56M	853.15M	1.02B	1.05B
Days Sales Outstanding	63.27	59.66	52.21	65.97	75.33	69.34	73.44	73.42	72.73	64.93
Inventory	6.48M	6.97M	11.4M	16.43M	27.9M	41.99M	62.97M	58.87M	101.06M	115.62M
Days Inventory Outstanding	21.48	19.93	28.25	37.09	54.37	60.5	72.93	56.89	84.08	80.17
Other Current Assets	62.43M	79.37M	43.73M	60.1M	126.28M	167.01M	182.83M	168.91M	317.83M	0
Total Non-Current Assets	797.73M	813.51M	945.26M	1.2B	1.81B	1.75B	2.14B	2.21B	1.52B	1.82B
Property, Plant & Equipment	259.76M	319.75M	406.63M	588.08M	751.47M	765.61M	777.05M	794.21M	758.4M	746.84M
Fixed Asset Turnover	5.91x	5.89x	5.31x	4.53x	3.97x	4.43x	4.76x	5.34x	6.78x	6.79x
Goodwill	155.59M	155.59M	155.59M	155.59M	155.59M	155.59M	155.59M	155.59M	133M	133M
Intangible Assets	236.9M	215.36M	193.83M	172.29M	150.75M	129.22M	123.55M	113.8M	117.13M	110.16M
Long-Term Investments	134.36M	99.2M	133.66M	222.3M	221.27M	133.68M	187.72M	18.81M	47.99M	137.76M
Other Non-Current Assets	11.12M	23.6M	55.56M	60.71M	68.06M	106.1M	260.92M	360.8M	-47.99M	650.62M
Total Assets	2.3B▲ 0%	2.65B▲ 14.9%	3.43B▲ 29.5%	3.56B▲ 3.9%	4.93B▲ 38.5%	5.84B▲ 18.4%	6.78B▲ 16.1%	5.44B▼ 19.7%	6.96B▲ 27.8%	7.34B▲ 0%
Asset Turnover	0.67x	0.71x	0.63x	0.75x	0.61x	0.58x	0.54x	0.78x	0.74x	0.81x
Asset Growth %	40.52%	14.9%	29.52%	3.92%	38.54%	18.4%	16.11%	-19.73%	27.8%	106.62%
Total Current Liabilities	375.4M	425.28M	513.34M	631.2M	854.31M	1.16B	1.24B	1.64B	1.52B	1.49B
Accounts Payable	67.67M	103.83M	83.65M	98.77M	172.11M	277.55M	109.6M	197.47M	209.94M	228.62M
Days Payables Outstanding	224.22	297.02	207.3	223.03	335.34	399.86	126.94	190.82	174.66	178
Short-Term Debt	7.39M	0	18.3M	0	0	0	0	0	10.21M	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	158.88M	171.36M	226.72M	260.06M	328.26M	435.86M	545.01M	724.83M	1.07B	39.38M
Current Ratio	4.01x	4.31x	4.83x	3.74x	3.65x	3.54x	3.75x	1.97x	3.32x	3.32x
Quick Ratio	3.99x	4.29x	4.81x	3.71x	3.62x	3.50x	3.69x	1.94x	3.25x	3.25x
Cash Conversion Cycle	-139.48	-217.43	-126.83	-119.97	-205.64	-270.02	19.43	-60.5	-17.86	-32.9
Total Non-Current Liabilities	296.56M	294.52M	315M	318.45M	309.04M	313.79M	351.89M	354.85M	288.2M	226.6M
Long-Term Debt	16.61M	17.43M	0	0	0	0	0	0	14.51M	0
Capital Lease Obligations	0	0	31.92M	32.57M	31.63M	30.08M	29.16M	33.54M	44.71M	136.76M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	12.88M	12.88M
Other Non-Current Liabilities	279.95M	277.08M	283.09M	285.88M	277.41M	283.7M	322.73M	321.31M	216.11M	1.06B
Total Liabilities	671.95M	719.79M	828.34M	949.65M	1.16B	1.47B	1.59B	2B	1.8B	1.79B
Total Debt	24M	36.13M	60.23M	47.53M	44.82M	41.46M	38.29M	43.54M	69.43M	33.83M
Net Debt	-875.51M	-1.13B	-1.77B	-1.47B	-2.01B	-2.91B	-3.18B	-1.64B	-3.03B	-3.43B
Debt / Equity	0.01x	0.02x	0.02x	0.02x	0.01x	0.01x	0.01x	0.01x	0.01x	0.01x
Debt / EBITDA	-	0.17x	0.13x	-	0.06x	0.06x	0.05x	0.26x	0.05x	0.02x
Net Debt / EBITDA	-	-5.36x	-3.72x	-	-2.89x	-4.36x	-4.32x	-9.71x	-2.11x	-2.11x
Interest Coverage	-44.26x	75.76x	263.42x	-105.82x	299.97x	199.47x	328.01x	139.87x	686.52x	759.79x
Total Equity	1.63B▲ 0%	1.93B▲ 18.1%	2.6B▲ 34.9%	2.61B▲ 0.5%	3.77B▲ 44.4%	4.37B▲ 15.9%	5.19B▲ 18.8%	3.45B▼ 33.6%	5.17B▲ 49.9%	5.55B▲ 0%
Equity Growth %	288.74%	18.11%	34.91%	0.5%	44.37%	15.92%	18.76%	-33.57%	49.89%	187.11%
Book Value per Share	7.97	8.93	11.94	11.97	16.98	19.51	22.97	16.38	25.75	26.84
Total Shareholders' Equity	1.63B	1.93B	2.6B	2.61B	3.77B	4.37B	5.19B	3.45B	5.17B	5.55B
Common Stock	211K	213K	216K	219K	221K	223K	224K	193K	198K	200K
Retained Earnings	-1.99B	-1.88B	-1.43B	-1.73B	-777.87M	-437.21M	160.38M	-1.07B	213.77M	517.1M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-7.01M	-10.16M	-15.54M	-15.36M	-19.45M	15.07M	13.11M	-13.12M	25.46M	22.31M
Minority Interest	0	0	0	0	0	0	0	0	0	0

INCY Cash Flow Statement

Incyte Corporation (INCY) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	-92.99M	336.23M	710.66M	-124.6M	749.49M	969.94M	496.49M	335.34M	1.41B	1.41B
Operating CF Margin %	-6.05%	17.87%	32.92%	-4.67%	25.1%	28.57%	13.43%	7.91%	27.49%	-
Operating CF Growth %	-130.51%	461.58%	111.36%	-117.53%	701.52%	29.41%	-48.81%	-32.46%	321.52%	269.05%
Net Income	-313.14M	109.49M	446.91M	-295.7M	948.58M	340.66M	597.6M	32.62M	1.29B	1.43B
Depreciation & Amortization	52.18M	54.97M	54.53M	51.81M	57.84M	67.86M	82.66M	89.25M	93.29M	94.73M
Stock-Based Compensation	133.06M	148.15M	166.59M	177.88M	183.01M	188.42M	215.89M	266.06M	249.35M	190.33M
Deferred Taxes	91.16M	-459K	-377K	-350K	-465.6M	57.09M	-158.9M	-85.55M	247.69M	317.81M
Other Non-Cash Items	7.99M	70.61M	-14.29M	13.51M	40.23M	117.11M	7.89M	-105.28M	63.69M	102.74M
Working Capital Changes	-64.23M	-46.54M	57.3M	-71.74M	-14.57M	198.81M	-248.65M	138.24M	-527.16M	-620.6M
Change in Receivables	-117.54M	-41.3M	-1.21M	-173.19M	-134.31M	-28.58M	-98.68M	-111.59M	-170.77M	-228.75M
Change in Inventory	4.85M	4.04M	-6.1M	-19.47M	-20.96M	-67.5M	-170.15M	-127.63M	-58.51M	-42.16M
Change in Payables	-7.93M	36.16M	-20.18M	15.12M	73.34M	105.44M	-167.94M	88.16M	6.56M	32.17M
Cash from Investing	-349.98M	-86.42M	-87.45M	-269M	-207.7M	-78.54M	-207.68M	157.52M	-102.61M	-191.91M
Capital Expenditures	-111.02M	-73.48M	-78.06M	-187.38M	-181.01M	-77.83M	-47.49M	-86.26M	-58.87M	-65.9M
CapEx % of Revenue	7.23%	3.9%	3.62%	7.03%	6.06%	2.29%	1.28%	2.03%	1.15%	-
Acquisitions	111.02M	73.48M	78.06M	187.38M	181.01M	709K	47.49M	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-111.02M	-73.48M	-78.06M	-187.38M	-181.01M	-709K	-47.49M	-13.9M	-25M	-30M
Cash from Financing	690.17M	14.66M	45.71M	71.71M	6.18M	-794K	-20.03M	-2.02B	101.04M	198.54M
Debt Issued (Net)	0	0	-822K	-836K	-2.42M	-2.86M	-3.36M	-3.8M	-4.54M	-4.64M
Equity Issued (Net)	649.39M	29.94M	63.3M	110.31M	58.63M	61.12M	35.84M	-2B	202.66M	290.46M
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	-2B	-19.1M	-25.98M
Other Financing	49.72M	-15.29M	-16.77M	-37.76M	-50.03M	-59.05M	-52.51M	-12.96M	-97.08M	-87.29M
Net Change in Cash	247.17M▲ 0%	264.55M▲ 7.0%	668.72M▲ 152.8%	-318.94M▼ 147.7%	544.39M▲ 270.7%	893.96M▲ 64.2%	262.1M▼ 70.7%	-1.53B▼ 682.1%	1.41B▲ 192.4%	1.52B▲ 0%
Free Cash Flow	-204.01M▲ 0%	262.74M▲ 228.8%	632.59M▲ 140.8%	-311.98M▼ 149.3%	568.48M▲ 282.2%	892.11M▲ 56.9%	449M▼ 49.7%	249.07M▼ 44.5%	1.35B▲ 443.9%	1.45B▲ 0%
FCF Margin %	-13.28%	13.96%	29.3%	-11.7%	19.04%	26.28%	12.15%	5.87%	26.35%	27.06%
FCF Growth %	-210.59%	228.79%	140.76%	-149.32%	282.22%	56.93%	-49.67%	-44.53%	443.87%	402.37%
FCF per Share	-1.00	1.22	2.91	-1.43	2.56	3.98	1.99	1.18	6.75	6.75
FCF Conversion (FCF/Net Income)	0.30x	3.07x	1.59x	0.42x	0.79x	2.85x	0.83x	10.28x	1.10x	1.01x
Interest Paid	314K	268K	239K	0	396K	0	0	0	0	0
Taxes Paid	6.3M	5.42M	33.55M	70.71M	67.73M	136.24M	378.21M	373.06M	0	175.59M

INCY Key Ratios

Incyte Corporation (INCY) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM
Return on Equity (ROE)	-30.55%	6.16%	19.76%	-11.35%	29.73%	8.37%	12.5%	0.76%	29.87%	29.31%
Return on Invested Capital (ROIC)	-30.12%	15.01%	38.95%	-18.28%	32.94%	27.95%	28.13%	3.15%	51.09%	51.09%
Gross Margin	92.83%	93.22%	93.18%	93.94%	93.73%	92.54%	91.47%	91.09%	91.47%	91.86%
Net Margin	-20.38%	5.82%	20.7%	-11.09%	31.76%	10.04%	16.17%	0.77%	25.03%	26.71%
Debt / Equity	0.01x	0.02x	0.02x	0.02x	0.01x	0.01x	0.01x	0.01x	0.01x	0.01x
Interest Coverage	-44.26x	75.76x	263.42x	-105.82x	299.97x	199.47x	328.01x	139.87x	686.52x	759.79x
FCF Conversion	0.30x	3.07x	1.59x	0.42x	0.79x	2.85x	0.83x	10.28x	1.10x	1.01x
Revenue Growth	38.93%	22.5%	14.71%	23.53%	11.98%	13.67%	8.87%	14.76%	21.22%	21.48%

INCY SEC Filings & Documents

Incyte Corporation (INCY) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 28, 2026·SEC

Material company update

Mar 30, 2026·SEC

Material company update

Mar 26, 2026·SEC

10-K Annual Reports

FY 2026

Feb 10, 2026·SEC

FY 2025

Feb 10, 2025·SEC

10-Q Quarterly Reports

FY 2026

Apr 28, 2026·SEC

FY 2025

Oct 28, 2025·SEC

FY 2025

Jul 29, 2025·SEC

INCY Frequently Asked Questions

Incyte Corporation (INCY) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Incyte Corporation (INCY) reported $5.36B in revenue for fiscal year 2025. This represents a 12725% increase from $41.8M in 1996.

Incyte Corporation (INCY) grew revenue by 21.2% over the past year. This is strong growth.

Yes, Incyte Corporation (INCY) is profitable, generating $1.43B in net income for fiscal year 2025 (25.0% net margin).

Dividend & Returns

Incyte Corporation (INCY) has a return on equity (ROE) of 29.9%. This is excellent, indicating efficient use of shareholder capital.

Incyte Corporation (INCY) generated $1.45B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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