Incyte Corporation (INCY) P/E Ratio History
Historical price-to-earnings valuation from 1997 to 2026
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INCY Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 8, 2026, Incyte Corporation (INCY) trades at a price-to-earnings ratio of 15.3x, with a stock price of $97.77 and trailing twelve-month earnings per share of $6.92.
The current P/E is 80% below its 5-year average of 75.6x. Over the past five years, INCY's P/E has ranged from a low of 13.3x to a high of 472.1x, placing the current valuation at the 10th percentile of its historical range.
Compared to the Healthcare sector median P/E of 22.3x, INCY trades at a 32% discount to its sector peers. The sector includes 241 companies with P/E ratios ranging from 0.0x to 177.5x.
Relative to the broader market, INCY trades at a notable discount to the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our INCY DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
INCY P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $6B | 24.8 | - | -34% | |
| $12B | 16.6 | 0.32Best | +58% | |
| $8B | 25.5 | 1.11 | -25% | |
| $4B | 9.9Lowest | - | +68% | |
| $115B | 16.3 | - | +178%Best | |
| $358B | 85.5 | - | -1% | |
| $151B | 19.5 | - | -4% | |
| $921B | 42.5 | 1.47 | +96% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
INCY Historical P/E Data (1997–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | $94.12 | $7.08 | 13.3x | -97% | |
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $98.77 | $6.41 | 15.4x | -96% |
| FY2025 Q3 | $84.81 | $5.97 | 14.2x | -97% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $68.10 | $4.40 | 15.5x | -96% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $60.55 | $0.32 | 189.2x | -57% |
| FY2024 Q4 | $69.07 | $0.27 | 255.8x | -42% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $66.10 | $0.14 | 472.1x | +7% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $60.62 | $0.36 | 168.4x | -62% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $56.97 | $3.30 | 17.3x | -96% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $62.79 | $2.65 | 23.7x | -95% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $57.77 | $1.89 | 30.6x | -93% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $62.25 | $1.63 | 38.3x | -91% |
Average P/E for displayed period: 439.8x
Full INCY Stock Analysis
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Start ComparisonINCY — Frequently Asked Questions
Quick answers to the most common questions about buying INCY stock.
Is INCY stock overvalued or undervalued?
INCY trades at 15.3x P/E, below its 5-year average of 75.6x. At the 10th percentile of historical range, the stock is priced at a discount to its own history.
How does INCY's valuation compare to peers?
Incyte Corporation P/E of 15.3x compares to sector median of 22.3x. The discount suggests lower growth expectations or higher risk.
What is INCY's PEG ratio?
INCY PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 1997-2026.