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Incyte Corporation INCY

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122.83 USD +5.24 (+4.46%)

Nov 4, 2026, 3:40 PM EST

117.52 Day range 123.33
90.30 52-week range 129.93
YTD
+24.36%
1 year
+19.35%

Financial health

Altman Z-Score

10.85 Safe zone

Bankruptcy-risk model: below 1.81 distress, above 2.99 safe.

Piotroski F-Score

6 / 9 Average

Nine pass/fail tests of profitability, leverage and efficiency.

FMP rating

B+3 / 5 overall

  • DCF 4
  • Return on Equity 3
  • Return on Assets 4
  • Debt / Equity 4
  • P/E 1
  • P/B 2

Valuation

P/E 15.0×
FY 2016: 182×FY 2017: -61.9×FY 2018: 122×FY 2019: 42.0×FY 2020: -64.0×FY 2021: 17.1×FY 2022: 52.5×FY 2023: 23.5×FY 2024: 432×FY 2025: 15.0×
FY 2016 5y median 23.5× FY 2025
P/S 3.8×
FY 2016: 17.0×FY 2017: 12.6×FY 2018: 7.2×FY 2019: 8.7×FY 2020: 7.1×FY 2021: 5.4×FY 2022: 5.3×FY 2023: 3.8×FY 2024: 3.4×FY 2025: 3.8×
FY 2016 5y median 3.8× FY 2025
P/B 3.7×
FY 2016: 44.9×FY 2017: 11.9×FY 2018: 7.0×FY 2019: 7.2×FY 2020: 7.3×FY 2021: 4.3×FY 2022: 4.1×FY 2023: 2.7×FY 2024: 4.1×FY 2025: 3.7×
FY 2016 5y median 4.1× FY 2025
P/FCF 14.2×
FY 2016: 102×FY 2017: -95.0×FY 2018: 51.4×FY 2019: 29.7×FY 2020: -60.8×FY 2021: 28.5×FY 2022: 20.0×FY 2023: 30.3×FY 2024: 57.4×FY 2025: 14.2×
FY 2016 5y median 28.5× FY 2025
EV/EBITDA 9.2×
FY 2016: 92.1×FY 2017: -73.1×FY 2018: 72.0×FY 2019: 31.3×FY 2020: -98.2×FY 2021: 22.5×FY 2022: 24.9×FY 2023: 11.8×FY 2024: 31.0×FY 2025: 9.2×
FY 2016 5y median 22.5× FY 2025
EV/Sales 3.2×
FY 2016: 17.0×FY 2017: 12.0×FY 2018: 6.6×FY 2019: 7.9×FY 2020: 6.6×FY 2021: 4.7×FY 2022: 4.4×FY 2023: 2.9×FY 2024: 3.0×FY 2025: 3.2×
FY 2016 5y median 3.2× FY 2025
FCF Yield 7.0%
FY 2016: 1.0%FY 2017: -1.1%FY 2018: 1.9%FY 2019: 3.4%FY 2020: -1.6%FY 2021: 3.5%FY 2022: 5.0%FY 2023: 3.3%FY 2024: 1.7%FY 2025: 7.0%
FY 2016 5y median 3.5% FY 2025

Profitability

Gross Margin 92.8%
FY 2016: 94.7%FY 2017: 94.8%FY 2018: 95.0%FY 2019: 94.7%FY 2020: 95.1%FY 2021: 94.9%FY 2022: 93.9%FY 2023: 93.1%FY 2024: 92.6%FY 2025: 92.8%
FY 2016 5y median 93.1% FY 2025
Operating Margin 26.1%
FY 2016: 13.1%FY 2017: -15.8%FY 2018: 6.9%FY 2019: 18.6%FY 2020: -9.9%FY 2021: 19.6%FY 2022: 17.4%FY 2023: 17.7%FY 2024: 2.4%FY 2025: 26.1%
FY 2016 5y median 17.7% FY 2025
Net Margin 25.0%
FY 2016: 9.4%FY 2017: -20.4%FY 2018: 5.8%FY 2019: 20.7%FY 2020: -11.1%FY 2021: 31.8%FY 2022: 10.0%FY 2023: 16.2%FY 2024: 0.8%FY 2025: 25.0%
FY 2016 5y median 16.2% FY 2025
ROE 24.9%
FY 2016: 24.8%FY 2017: -19.2%FY 2018: 5.7%FY 2019: 17.2%FY 2020: -11.3%FY 2021: 25.2%FY 2022: 7.8%FY 2023: 11.5%FY 2024: 0.9%FY 2025: 24.9%
FY 2016 5y median 11.5% FY 2025
ROIC 20.6%
FY 2016: 10.3%FY 2017: -12.6%FY 2018: 5.5%FY 2019: 12.5%FY 2020: -9.0%FY 2021: 14.3%FY 2022: 8.1%FY 2023: 8.5%FY 2024: 0.3%FY 2025: 20.6%
FY 2016 5y median 8.5% FY 2025
ROA 18.5%
FY 2016: 6.4%FY 2017: -13.6%FY 2018: 4.1%FY 2019: 13.0%FY 2020: -8.3%FY 2021: 19.2%FY 2022: 5.8%FY 2023: 8.8%FY 2024: 0.6%FY 2025: 18.5%
FY 2016 5y median 8.8% FY 2025

Growth (YoY)

Revenue 21.2%
FY 2016: 46.7%FY 2017: 38.9%FY 2018: 22.5%FY 2019: 14.7%FY 2020: 23.5%FY 2021: 12.0%FY 2022: 13.7%FY 2023: 8.9%FY 2024: 14.8%FY 2025: 21.2%
FY 2016 FY 2025
Operating Income 1225.6%
FY 2016: 186.3%FY 2017: -267.9%FY 2018: 153.1%FY 2019: 211.1%FY 2020: -165.6%FY 2021: 322.2%FY 2022: 1.0%FY 2023: 10.8%FY 2024: -84.5%FY 2025: 1225.6%
FY 2016 FY 2025
EPS (diluted) 4173.3%
FY 2016: 1700.0%FY 2017: -383.3%FY 2018: 133.3%FY 2019: 302.0%FY 2020: -166.3%FY 2021: 414.0%FY 2022: -64.4%FY 2023: 74.3%FY 2024: -94.3%FY 2025: 4173.3%
FY 2016 FY 2025
Free Cash Flow 443.9%
FY 2016: 204.8%FY 2017: -210.6%FY 2018: 228.8%FY 2019: 140.8%FY 2020: -149.3%FY 2021: 282.2%FY 2022: 56.9%FY 2023: -48.0%FY 2024: -46.3%FY 2025: 443.9%
FY 2016 FY 2025

Financial Health

Current Ratio 3.3×
FY 2016: 3.6×FY 2017: 4.0×FY 2018: 4.3×FY 2019: 4.8×FY 2020: 3.7×FY 2021: 3.7×FY 2022: 3.5×FY 2023: 3.7×FY 2024: 2.0×FY 2025: 3.3×
FY 2016 5y median 3.5× FY 2025
Quick Ratio 3.2×
FY 2016: 3.6×FY 2017: 4.0×FY 2018: 4.3×FY 2019: 4.8×FY 2020: 3.7×FY 2021: 3.6×FY 2022: 3.5×FY 2023: 3.7×FY 2024: 1.9×FY 2025: 3.2×
FY 2016 5y median 3.5× FY 2025
Debt / Equity 0.0×
FY 2016: 1.6×FY 2017: 0.0×FY 2018: 0.0×FY 2019: 0.0×FY 2020: 0.0×FY 2021: 0.0×FY 2022: 0.0×FY 2023: 0.0×FY 2024: 0.0×FY 2025: 0.0×
FY 2016 5y median 0.0× FY 2025
Net Debt / EBITDA -1.7×
FY 2016: -0.0×FY 2017: 3.5×FY 2018: -6.6×FY 2019: -3.3×FY 2020: 8.2×FY 2021: -3.2×FY 2022: -4.9×FY 2023: -3.5×FY 2024: -4.0×FY 2025: -1.7×
FY 2016 5y median -3.5× FY 2025
Interest Coverage 553×
FY 2016: 3.7×FY 2017: -35.3×FY 2018: 83.7×FY 2019: 217×FY 2020: -121×FY 2021: 307×FY 2022: 222×FY 2023: 257×FY 2024: 44.4×FY 2025: 553×
FY 2016 5y median 257× FY 2025

Dividends

Dividend Yield 0.0%
FY 2016: 0.0%FY 2017: 0.0%FY 2018: 0.0%FY 2019: 0.0%FY 2020: 0.0%FY 2021: 0.0%FY 2022: 0.0%FY 2023: 0.0%FY 2024: 0.0%FY 2025: 0.0%
FY 2016 5y median 0.0% FY 2025
Payout Ratio 0.0%
FY 2016: 0.0%FY 2017: 0.0%FY 2018: 0.0%FY 2019: 0.0%FY 2020: 0.0%FY 2021: 0.0%FY 2022: 0.0%FY 2023: 0.0%FY 2024: 0.0%FY 2025: 0.0%
FY 2016 5y median 0.0% FY 2025

Annual · latest fiscal year ends 2025-12-31