Incyte Corporation logo

Incyte Corporation

INCY

NASDAQHealthcareBiotechnology

Previous close

$127.81

+$0.59 · +0.46%

Aug 21, 4:00 PM ET

Pre-market

$128

+$0.19 · +0.15%

Aug 24, 4:00 AM ET

INCY company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

97

Deep Value

Momentum

62

Gaining

Sentiment

73

Bullish

Risk resilience

71

Moderate Risk

Full GoAI research

Thesis, catalysts, evidence, and risk analysis.

View full GoAI research

AI-generated, informational only, and not investment advice.

Company profile

Company website

Incyte Corporation is a biopharmaceutical firm engaged in the research, development, and global marketing of its own innovative therapies. Its current product offerings include JAKAFI, prescribed for myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that targets oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor utilized for chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia. Beyond its marketed drugs, Incyte's pipeline features several promising candidates. Among its clinical-stage assets are ruxolitinib, targeting steroid-refractory chronic graft-versus-host disease (GVHD), and itacitinib, which is undergoing Phase II/III trials for newly diagnosed chronic GVHD. Pemigatinib is also being investigated for conditions such as bladder cancer, cholangiocarcinoma, myeloproliferative syndrome, and other tumor types. Further advancing its research, the company is developing Parsaclisib, currently in Phase II studies for follicular lymphoma, marginal zone lymphoma, and mantle cell lymphoma. Additionally, Retifanlimab is in Phase II development for multiple indications, including MSI-high endometrial cancer, Merkel cell carcinoma, anal cancer, and non-small cell lung cancer. Incyte maintains a broad network of strategic alliances with numerous pharmaceutical and biotech companies, including key partners like Novartis International Pharmaceutical Ltd., Eli Lilly and Company, and Agenus Inc., among many others. These collaborations extend to clinical trials, notably joint efforts with MorphoSys AG and Xencor, Inc., to evaluate a combination therapy involving tafasitamab, plamotamab, and lenalidomide for patients with recurrent or resistant diffuse large B-cell lymphoma and follicular lymphoma. Established in 1991, the corporation's main offices are situated in Wilmington, Delaware.

Industry
Biotechnology
Sector
Healthcare
Headquarters
US
CEO
William J. Meury
Listed since
Nov 4, 1993
Employees
2,844

Market position

Day range

Current $127.81

52-week range

Current $127.81

Open
$126.99
Previous close
$127.22
Volume
1.37M
0.79× average
Average volume
1.73M
Average daily volume
Market cap
25.91B USD
Beta
0.77
Market reference 1
50-day average
$116.2
+9.99% above average
200-day average
$103.65
+23.31% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
16.25B USD
P/E (TTM)
15.72×
P/B (TTM)
4.04×
P/S (TTM)
4.45×
EV / EBITDA
9.23×
Earnings yield
6.67%
Free cash flow yield
7.03%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
92.62%
Operating margin
31.57%
Net margin
27.71%
Return on equity
24.90%
Return on assets
18.49%
Return on invested capital
20.58%

Financial health

Debt / equity
0.01×
Current ratio
3.32×
Altman Z-score
12.66
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends104%67%29%-9%Gross margin, FY2021: 94.94%Gross margin, FY2022: 93.90%Gross margin, FY2023: 93.10%Gross margin, FY2024: 92.64%Gross margin, FY2025: 92.76%Operating margin, FY2021: 19.62%Operating margin, FY2022: 17.43%Operating margin, FY2023: 17.73%Operating margin, FY2024: 2.39%Operating margin, FY2025: 26.12%Net margin, FY2021: 31.76%Net margin, FY2022: 10.04%Net margin, FY2023: 16.17%Net margin, FY2024: 0.77%Net margin, FY2025: 25.03%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 94.94%. Gross margin FY2022 93.90%. Gross margin FY2023 93.10%. Gross margin FY2024 92.64%. Gross margin FY2025 92.76%. Operating margin FY2021 19.62%. Operating margin FY2022 17.43%. Operating margin FY2023 17.73%. Operating margin FY2024 2.39%. Operating margin FY2025 26.12%. Net margin FY2021 31.76%. Net margin FY2022 10.04%. Net margin FY2023 16.17%. Net margin FY2024 0.77%. Net margin FY2025 25.03%.

Income trends

Revenue

5.14B USD+21.22%

Operating income

1.34B USD+1225.64%

Net income

1.29B USD+3844.96%
Income trends across reported periods5.65B USD3.61B USD1.57B USD−478.25M USDRevenue, FY2021: 2.99B USDRevenue, FY2022: 3.39B USDRevenue, FY2023: 3.7B USDRevenue, FY2024: 4.24B USDRevenue, FY2025: 5.14B USDOperating income, FY2021: 585.78M USDOperating income, FY2022: 591.63M USDOperating income, FY2023: 655.36M USDOperating income, FY2024: 101.29M USDOperating income, FY2025: 1.34B USDNet income, FY2021: 948.58M USDNet income, FY2022: 340.66M USDNet income, FY2023: 597.6M USDNet income, FY2024: 32.62M USDNet income, FY2025: 1.29B USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 2.99B USD. Revenue FY2022 3.39B USD. Revenue FY2023 3.7B USD. Revenue FY2024 4.24B USD. Revenue FY2025 5.14B USD. Operating income FY2021 585.78M USD. Operating income FY2022 591.63M USD. Operating income FY2023 655.36M USD. Operating income FY2024 101.29M USD. Operating income FY2025 1.34B USD. Net income FY2021 948.58M USD. Net income FY2022 340.66M USD. Net income FY2023 597.6M USD. Net income FY2024 32.62M USD. Net income FY2025 1.29B USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue5.14B USD4.24B USD3.7B USD3.39B USD2.99B USD
Cost of goods sold372.1M USD312.1M USD254.99M USD207M USD150.99M USD
Gross profit4.77B USD3.93B USD3.44B USD3.19B USD2.84B USD
Research and development2.05B USD2.61B USD1.63B USD1.59B USD1.46B USD
Selling, general, and administrative1.38B USD1.22B USD1.16B USD1B USD739.56M USD
Operating expenses3.43B USD3.83B USD2.79B USD2.6B USD2.25B USD
Interest income105.6M USD128.71M USD
Interest expense2.43M USD2.28M USD2.55M USD2.67M USD1.91M USD
Depreciation and amortization93.29M USD89.25M USD82.66M USD67.86M USD57.84M USD
Operating income1.34B USD101.29M USD655.36M USD591.63M USD585.78M USD
Net income1.29B USD32.62M USD597.6M USD340.66M USD948.58M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
45%
5 beats, 6 misses, 0 met estimates
Average EPS surprise
-21.97%
11 comparable reports
Latest EPS result
3.09
Estimate 2.15 · Beat by 43.72%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates3.61.12-1.37-3.85Q1 '25MissQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 10, 2025: actual 1.43, estimate 1.57, surprise -8.92%, Miss. Q2 2025, reported Apr 29, 2025: actual 1.16, estimate 1.01, surprise +14.85%, Beat. Q3 2025, reported Jul 29, 2025: actual 1.57, estimate 1.39, surprise +12.95%, Beat. Q4 2025, reported Oct 28, 2025: actual 2.26, estimate 1.66, surprise +36.14%, Beat. Q1 2026, reported Feb 10, 2026: actual 1.8, estimate 1.9, surprise -5.26%, Miss. Q2 2026, reported Apr 28, 2026: actual 1.81, estimate 1.34, surprise +35.07%, Beat. Q3 2026, reported Jul 28, 2026: actual 3.09, estimate 2.15, surprise +43.72%, Beat. Q4 2026, reported Oct 27, 2026: actual —, estimate -3.34, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates1.74B1.47B1.21B937.92MQ1 '25BeatQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 10, 2025: actual 1.18B USD, estimate 1B USD, surprise +17.30%, Beat. Q2 2025, reported Apr 29, 2025: actual 1.05B USD, estimate 1.15B USD, surprise -8.68%, Miss. Q3 2025, reported Jul 29, 2025: actual 1.22B USD, estimate 1.26B USD, surprise -3.29%, Miss. Q4 2025, reported Oct 28, 2025: actual 1.37B USD, estimate 1.35B USD, surprise +0.87%, Beat. Q1 2026, reported Feb 10, 2026: actual 1.51B USD, estimate 1.35B USD, surprise +11.22%, Beat. Q2 2026, reported Apr 28, 2026: actual 1.27B USD, estimate 1.22B USD, surprise +4.66%, Beat. Q3 2026, reported Jul 28, 2026: actual 1.67B USD, estimate 1.5B USD, surprise +11.31%, Beat. Q4 2026, reported Oct 27, 2026: actual —, estimate 1.47B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$130.07

1.77% upside
Past 12 months12-month forecastHigh $155Average $130.07Low $104

Rating distribution

44 ratings
Strong buy00%
Buy2352%
Hold2045%
Sell12%
Strong sell00%

Recent analyst actions

12 institutions

INCY news

Corporate actions

Corporate action history

Stock split

Effective Sep 1, 2000

2:1

Stock split

Effective Nov 10, 1997

2:1

INCY peers

ETFs holding INCY

Funds reporting this stock among their holdings, ordered by reported position size.

Continue in GoAI

Research INCY

research.disclaimer