Incyte Corporation (INCY) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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INCY Revenue Growth
Revenue Breakdown (FY 2025)
INCY's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
INCY Revenue Analysis (2014–2025)
As of May 6, 2026, Incyte Corporation (INCY) generated trailing twelve-month (TTM) revenue of $5.36 billion, reflecting exceptional growth of +20.9% year-over-year. The most recent quarter (Q1 2026) recorded $1.27 billion in revenue, down 15.5% sequentially.
Looking at the longer-term picture, INCY's 5-year compound annual growth rate (CAGR) stands at +14.0%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $5.14 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows INCY's business is primarily driven by J A K A F I (71%), OPZELURA (14%), and Milestone And Contract Revenue (3%). With over half of revenue concentrated in J A K A F I, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including ALKS (-5.2% YoY), JAZZ (+9.2% YoY), and EXEL (+3.3% YoY), INCY has underperformed the peer group in terms of revenue growth. Compare INCY vs ALKS →
INCY Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| INCYCurrent | $5.4B | +20.9% | +14.0% | 26.1% | |
 ALKS | $1.5B | -5.2% | +7.3% | 17.2% | |
 JAZZ | $4.3B | +9.2% | +12.5% | 5.3% | |
 EXEL | $2.3B | +3.3% | +18.6% | 37.6% | |
 HALO | $1.4B | +37.6% | +39.2% | 58.4% | |
 IONS | $944M | +47.5% | +5.3% | -40.5% |
INCY Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $5.14B | +21.2% | $4.70B | 91.5% | $1.34B | 26.1% |
| 2024 | $4.24B | +14.8% | $3.86B | 91.1% | $80.1M | 1.9% |
| 2023 | $3.70B | +8.9% | $3.38B | 91.5% | $651.8M | 17.6% |
| 2022 | $3.39B | +13.7% | $3.14B | 92.5% | $599.6M | 17.7% |
| 2021 | $2.99B | +12.0% | $2.80B | 93.7% | $637.5M | 21.3% |
| 2020 | $2.67B | +23.5% | $2.51B | 93.9% | $-240,291,000 | -9.0% |
| 2019 | $2.16B | +14.7% | $2.01B | 93.2% | $421.7M | 19.5% |
| 2018 | $1.88B | +22.5% | $1.75B | 93.2% | $155.4M | 8.3% |
| 2017 | $1.54B | +38.9% | $1.43B | 92.8% | $-235,683,000 | -15.3% |
| 2016 | $1.11B | +46.7% | $1.00B | 90.6% | $164.0M | 14.8% |
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's revenue growth accelerating or slowing?
INCY revenue is accelerating at +20.9% year-over-year, exceeding the 5-year CAGR of +14.0%. TTM revenue reached $5.4B. Growth momentum has increased versus prior periods.
What is INCY's long-term revenue growth rate?
Incyte Corporation's 5-year revenue CAGR of +14.0% reflects the sustained expansion pattern. Current YoY growth of +20.9% is above this long-term average.
How is INCY's revenue distributed by segment?
INCY reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.