Last 48 quarters of trend data · Healthcare · Biotechnology
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Incyte Corporation's quarterly P/E stands at 16.0x, down 15.4% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has expanded 16.8% YoY to 12.3x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 15.32 | 16.01 | 16.91 | 10.05 | 8.35 | 18.92 | 16.93 | 30.60 | — | 18.99 | 17.64 | 19.00 | 17.29 |
| — | -15.4% | -0.1% | -67.2% | — | -0.4% | -4.0% | +61.0% | — | -89.9% | -88.6% | -43.0% | -34.4% | |
| P/S Ratio | 3.82 | 3.82 | 3.36 | 3.13 | 2.78 | 2.85 | 2.89 | 2.84 | 3.17 | 3.67 | 3.50 | 3.55 | 3.68 |
| — | +34.2% | +16.0% | +9.9% | -12.1% | -22.4% | -17.4% | -20.0% | -13.9% | -27.1% | -28.1% | -21.6% | -21.1% | |
| P/B Ratio | 3.81 | 3.51 | 3.91 | 3.67 | 3.24 | 3.27 | 3.96 | 4.08 | 4.41 | 2.40 | 2.74 | 2.65 | 2.96 |
| — | +7.2% | -1.0% | -10.0% | -26.5% | +36.4% | +44.6% | +54.1% | +48.9% | -34.3% | -33.8% | -25.0% | -28.8% | |
| P/FCF | 14.49 | 13.55 | 9.70 | 7.84 | 131.83 | 11.41 | 9.37 | 11.04 | — | 15.46 | 24.40 | 23.87 | 11.74 |
| — | +18.7% | +3.5% | -29.0% | — | -26.2% | -61.6% | -53.8% | — | — | +41.8% | +71.6% | -55.1% | |
| EV / EBITDA | 11.56 | 12.34 | 10.54 | 7.84 | 8.71 | 10.56 | 9.36 | 15.20 | — | 21.44 | 12.14 | 10.43 | 12.34 |
| — | +16.8% | +12.6% | -48.4% | — | -50.7% | -22.9% | +45.8% | — | -69.0% | -64.2% | -54.2% | -6.4% | |
| EV / EBIT | 12.36 | 11.67 | 11.01 | 7.59 | 5.20 | 10.75 | 9.54 | 18.56 | — | 10.18 | 10.14 | 10.53 | 9.84 |
| — | +8.5% | +15.4% | -59.1% | — | +5.6% | -5.9% | +76.2% | — | -84.2% | -78.2% | -48.8% | -38.0% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Incyte Corporation's operating margin was 23.7% in Q1 2026, down 1.8 pp QoQ and up 3.1 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 26.8% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 91.5% | 91.8% | 90.9% | 92.8% | 92.1% | 91.5% | 91.1% | 91.0% | 91.1% | 91.2% | 91.5% | 91.8% | 91.3% |
| — | +0.3% | -0.2% | +1.9% | +1.1% | +0.3% | -0.5% | -0.8% | -0.2% | -0.0% | -0.8% | -0.3% | -2.1% | |
| Operating Margin | 26.1% | 23.7% | 25.5% | 32.5% | 25.6% | 20.6% | 25.2% | 14.9% | -45.7% | 10.3% | 20.3% | 23.4% | 21.1% |
| — | +14.9% | +0.9% | +118.0% | +155.9% | +100.6% | +24.6% | -36.4% | -316.5% | +180.4% | +101.0% | +63.1% | -26.1% | |
| Net Margin | 25.0% | 23.8% | 19.9% | 31.1% | 33.3% | 15.0% | 17.1% | 9.4% | -42.6% | 19.2% | 19.8% | 18.6% | 21.3% |
| — | +58.6% | +16.3% | +231.9% | +178.2% | -21.9% | -14.0% | -49.8% | -299.8% | +617.2% | +546.1% | +36.0% | +20.4% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 29.9% | 5.7% | 6.1% | 9.6% | 10.3% | 4.4% | 6.1% | 3.5% | -10.6% | 3.2% | 4.0% | 3.5% | 4.4% |
| — | +27.3% | +0.3% | +178.6% | +197.5% | +38.8% | +53.0% | -2.5% | -339.6% | +552.0% | +500.1% | +30.5% | +8.9% | |
| ROA | 20.7% | 4.2% | 4.5% | 7.0% | 7.0% | 2.8% | 3.8% | 2.2% | -7.5% | 2.4% | 3.1% | 2.7% | 3.4% |
| — | +50.1% | +17.0% | +217.2% | +192.9% | +16.0% | +26.0% | -19.1% | -322.3% | +553.4% | +508.9% | +30.6% | +8.9% | |
| ROIC | 51.1% | 10.6% | 13.2% | 14.8% | 11.6% | 9.1% | 12.0% | 6.4% | -17.3% | 3.3% | 8.2% | 9.5% | 9.1% |
| — | +16.4% | +9.3% | +130.0% | +166.8% | +175.1% | +46.9% | -32.4% | -290.8% | +134.0% | +77.8% | +75.6% | -22.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Incyte Corporation's Debt/EBITDA ratio is 0.1x, down from 0.2x last quarter — comfortably within a safe range. The current ratio has improved 80.6% YoY to 3.68x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| — | -48.2% | +6.4% | -22.9% | -18.8% | +69.6% | +71.2% | +49.0% | +49.4% | -23.1% | -22.2% | -22.4% | -21.4% | |
| Debt / EBITDA | 0.05 | 0.10 | 0.17 | 0.09 | 0.13 | 0.18 | 0.14 | 0.19 | — | 0.33 | 0.17 | 0.16 | 0.18 |
| — | -42.3% | +25.2% | -53.6% | — | -45.8% | -19.4% | +18.1% | — | -59.6% | -54.6% | -48.4% | +13.8% | |
| Current Ratio | 3.32 | 3.68 | 3.32 | 3.20 | 2.85 | 2.04 | 1.97 | 1.87 | 1.92 | 3.47 | 3.75 | 3.91 | 3.81 |
| — | +80.6% | +68.1% | +70.8% | +48.4% | -41.3% | -47.3% | -52.2% | -49.6% | -12.0% | +5.9% | +3.1% | -2.6% | |
| Quick Ratio | 3.25 | 3.60 | 3.25 | 3.13 | 2.78 | 2.00 | 1.94 | 1.82 | 1.84 | 3.43 | 3.69 | 3.86 | 3.78 |
| — | +80.0% | +67.7% | +71.8% | +50.9% | -41.6% | -47.6% | -52.8% | -51.2% | -12.3% | +5.5% | +3.0% | -1.9% | |
| Interest Coverage | 686.52 | 603.87 | 671.00 | 815.71 | 940.41 | 355.83 | 749.74 | 203.23 | -592.27 | 550.21 | 338.01 | 376.28 | 424.82 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying INCY stock.
Incyte Corporation's current P/E is 15.3x. The average P/E over the last 4 quarters is 12.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Incyte Corporation's current operating margin is 26.1%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Incyte Corporation's business trajectory between earnings reports.