INCYTE CORP (INCY) Fundamental Analysis & Valuation

NASDAQ:INCY • US45337C1027

Current stock price

95.105 USD
-0.6 (-0.63%)
Last:

This INCY fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

9

1. INCY Profitability Analysis

1.1 Basic Checks

  • In the past year INCY was profitable.
  • INCY had a positive operating cash flow in the past year.
  • In the past 5 years INCY has always been profitable.
  • Each year in the past 5 years INCY had a positive operating cash flow.
INCY Yearly Net Income VS EBIT VS OCF VS FCFINCY Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M 1B

1.2 Ratios

  • With an excellent Return On Assets value of 18.49%, INCY belongs to the best of the industry, outperforming 95.73% of the companies in the same industry.
  • The Return On Equity of INCY (24.90%) is better than 95.92% of its industry peers.
  • With an excellent Return On Invested Capital value of 19.49%, INCY belongs to the best of the industry, outperforming 97.48% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for INCY is significantly below the industry average of 28.06%.
  • The last Return On Invested Capital (19.49%) for INCY is above the 3 year average (10.37%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 18.49%
ROE 24.9%
ROIC 19.49%
ROA(3y)9.3%
ROA(5y)10.59%
ROE(3y)12.45%
ROE(5y)14.06%
ROIC(3y)10.37%
ROIC(5y)10.71%
INCY Yearly ROA, ROE, ROICINCY Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20

1.3 Margins

  • The Profit Margin of INCY (25.03%) is better than 93.40% of its industry peers.
  • In the last couple of years the Profit Margin of INCY has grown nicely.
  • INCY has a Operating Margin of 26.12%. This is amongst the best in the industry. INCY outperforms 94.56% of its industry peers.
  • INCY's Operating Margin has improved in the last couple of years.
  • INCY has a Gross Margin of 93.26%. This is amongst the best in the industry. INCY outperforms 93.59% of its industry peers.
  • In the last couple of years the Gross Margin of INCY has remained more or less at the same level.
Industry RankSector Rank
OM 26.12%
PM (TTM) 25.03%
GM 93.26%
OM growth 3Y13.93%
OM growth 5YN/A
PM growth 3Y35.6%
PM growth 5YN/A
GM growth 3Y-0.45%
GM growth 5Y-0.55%
INCY Yearly Profit, Operating, Gross MarginsINCY Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 60 80

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8

2. INCY Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so INCY is creating value.
  • The number of shares outstanding for INCY has been increased compared to 1 year ago.
  • The number of shares outstanding for INCY has been reduced compared to 5 years ago.
  • Compared to 1 year ago, INCY has an improved debt to assets ratio.
INCY Yearly Shares OutstandingINCY Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
INCY Yearly Total Debt VS Total AssetsINCY Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

2.2 Solvency

  • An Altman-Z score of 8.41 indicates that INCY is not in any danger for bankruptcy at the moment.
  • INCY has a better Altman-Z score (8.41) than 78.83% of its industry peers.
  • The Debt to FCF ratio of INCY is 0.03, which is an excellent value as it means it would take INCY, only 0.03 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of INCY (0.03) is better than 96.50% of its industry peers.
  • INCY has a Debt/Equity ratio of 0.01. This is a healthy value indicating a solid balance between debt and equity.
  • INCY's Debt to Equity ratio of 0.01 is in line compared to the rest of the industry. INCY outperforms 46.41% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.03
Altman-Z 8.41
ROIC/WACC2.07
WACC9.41%
INCY Yearly LT Debt VS Equity VS FCFINCY Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B 2B 3B 4B 5B

2.3 Liquidity

  • A Current Ratio of 3.32 indicates that INCY has no problem at all paying its short term obligations.
  • With a Current ratio value of 3.32, INCY perfoms like the industry average, outperforming 40.39% of the companies in the same industry.
  • A Quick Ratio of 3.25 indicates that INCY has no problem at all paying its short term obligations.
  • INCY has a Quick ratio of 3.25. This is comparable to the rest of the industry: INCY outperforms 41.75% of its industry peers.
Industry RankSector Rank
Current Ratio 3.32
Quick Ratio 3.25
INCY Yearly Current Assets VS Current LiabilitesINCY Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. INCY Growth Analysis

3.1 Past

  • INCY shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 414.39%, which is quite impressive.
  • Measured over the past years, INCY shows a very strong growth in Earnings Per Share. The EPS has been growing by 34.67% on average per year.
  • Looking at the last year, INCY shows a very strong growth in Revenue. The Revenue has grown by 21.22%.
  • Measured over the past years, INCY shows a quite strong growth in Revenue. The Revenue has been growing by 14.03% on average per year.
EPS 1Y (TTM)414.39%
EPS 3Y34.67%
EPS 5YN/A
EPS Q2Q%25.87%
Revenue 1Y (TTM)21.22%
Revenue growth 3Y14.84%
Revenue growth 5Y14.03%
Sales Q2Q%27.84%

3.2 Future

  • INCY is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -9.23% yearly.
  • INCY is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -0.83% yearly.
EPS Next Y13.99%
EPS Next 2Y16%
EPS Next 3Y11.72%
EPS Next 5Y-9.23%
Revenue Next Year11.88%
Revenue Next 2Y11.43%
Revenue Next 3Y8.54%
Revenue Next 5Y-0.83%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
INCY Yearly Revenue VS EstimatesINCY Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2B 4B 6B
INCY Yearly EPS VS EstimatesINCY Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 0 2 4 6 8

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7

4. INCY Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 14.01 indicates a correct valuation of INCY.
  • Based on the Price/Earnings ratio, INCY is valued cheaply inside the industry as 96.12% of the companies are valued more expensively.
  • INCY is valuated rather cheaply when we compare the Price/Earnings ratio to 27.15, which is the current average of the S&P500 Index.
  • INCY is valuated correctly with a Price/Forward Earnings ratio of 12.29.
  • Based on the Price/Forward Earnings ratio, INCY is valued cheaply inside the industry as 97.67% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.12, INCY is valued a bit cheaper.
Industry RankSector Rank
PE 14.01
Fwd PE 12.29
INCY Price Earnings VS Forward Price EarningsINCY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, INCY is valued cheaply inside the industry as 96.12% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, INCY is valued cheaper than 97.09% of the companies in the same industry.
Industry RankSector Rank
P/FCF 13.97
EV/EBITDA 10.46
INCY Per share dataINCY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

  • INCY's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • INCY has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)1
PEG (5Y)N/A
EPS Next 2Y16%
EPS Next 3Y11.72%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. INCY Dividend Analysis

5.1 Amount

  • No dividends for INCY!.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

INCY Fundamentals: All Metrics, Ratios and Statistics

INCYTE CORP

NASDAQ:INCY (4/28/2026, 11:05:40 AM)

95.105

-0.6 (-0.63%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)04-28
Earnings (Next)N/A
Inst Owners104.89%
Inst Owner Change-0.13%
Ins Owners0.92%
Ins Owner Change-4.16%
Market Cap18.93B
Revenue(TTM)5.14B
Net Income(TTM)1.29B
Analysts73.94
Price Target109.33 (14.96%)
Short Float %6.14%
Short Ratio7.77
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)12.64%
Min EPS beat(2)-8.46%
Max EPS beat(2)33.74%
EPS beat(4)3
Avg EPS beat(4)10.48%
Min EPS beat(4)-8.46%
Max EPS beat(4)33.74%
EPS beat(8)3
Avg EPS beat(8)-1.32%
EPS beat(12)5
Avg EPS beat(12)-4.16%
EPS beat(16)7
Avg EPS beat(16)-3.27%
Revenue beat(2)2
Avg Revenue beat(2)7.99%
Min Revenue beat(2)6.72%
Max Revenue beat(2)9.27%
Revenue beat(4)4
Avg Revenue beat(4)5.84%
Min Revenue beat(4)3.45%
Max Revenue beat(4)9.27%
Revenue beat(8)6
Avg Revenue beat(8)2.66%
Revenue beat(12)7
Avg Revenue beat(12)0.75%
Revenue beat(16)9
Avg Revenue beat(16)0.81%
PT rev (1m)0.01%
PT rev (3m)5%
EPS NQ rev (1m)-2.22%
EPS NQ rev (3m)-15.62%
EPS NY rev (1m)1.06%
EPS NY rev (3m)-3.67%
Revenue NQ rev (1m)-1.65%
Revenue NQ rev (3m)-1.5%
Revenue NY rev (1m)-0.47%
Revenue NY rev (3m)0.83%
Valuation
Industry RankSector Rank
PE 14.01
Fwd PE 12.29
P/S 3.68
P/FCF 13.97
P/OCF 13.39
P/B 3.66
P/tB 3.85
EV/EBITDA 10.46
EPS(TTM)6.79
EY7.14%
EPS(NY)7.74
Fwd EY8.14%
FCF(TTM)6.81
FCFY7.16%
OCF(TTM)7.1
OCFY7.47%
SpS25.83
BVpS25.97
TBVpS24.71
PEG (NY)1
PEG (5Y)N/A
Graham Number62.9837 (-33.77%)
Profitability
Industry RankSector Rank
ROA 18.49%
ROE 24.9%
ROCE 24.67%
ROIC 19.49%
ROICexc 56.96%
ROICexgc 65.8%
OM 26.12%
PM (TTM) 25.03%
GM 93.26%
FCFM 26.35%
ROA(3y)9.3%
ROA(5y)10.59%
ROE(3y)12.45%
ROE(5y)14.06%
ROIC(3y)10.37%
ROIC(5y)10.71%
ROICexc(3y)33.39%
ROICexc(5y)32.41%
ROICexgc(3y)39.93%
ROICexgc(5y)39.19%
ROCE(3y)13.12%
ROCE(5y)13.56%
ROICexgc growth 3Y17.25%
ROICexgc growth 5YN/A
ROICexc growth 3Y20.23%
ROICexc growth 5YN/A
OM growth 3Y13.93%
OM growth 5YN/A
PM growth 3Y35.6%
PM growth 5YN/A
GM growth 3Y-0.45%
GM growth 5Y-0.55%
F-Score7
Asset Turnover0.74
Health
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.03
Debt/EBITDA 0.02
Cap/Depr 63.1%
Cap/Sales 1.15%
Interest Coverage 250
Cash Conversion 98.43%
Profit Quality 105.28%
Current Ratio 3.32
Quick Ratio 3.25
Altman-Z 8.41
F-Score7
WACC9.41%
ROIC/WACC2.07
Cap/Depr(3y)66.35%
Cap/Depr(5y)125.36%
Cap/Sales(3y)1.35%
Cap/Sales(5y)2.48%
Profit Quality(3y)315.54%
Profit Quality(5y)253.68%
High Growth Momentum
Growth
EPS 1Y (TTM)414.39%
EPS 3Y34.67%
EPS 5YN/A
EPS Q2Q%25.87%
EPS Next Y13.99%
EPS Next 2Y16%
EPS Next 3Y11.72%
EPS Next 5Y-9.23%
Revenue 1Y (TTM)21.22%
Revenue growth 3Y14.84%
Revenue growth 5Y14.03%
Sales Q2Q%27.84%
Revenue Next Year11.88%
Revenue Next 2Y11.43%
Revenue Next 3Y8.54%
Revenue Next 5Y-0.83%
EBIT growth 1Y1102.71%
EBIT growth 3Y30.84%
EBIT growth 5YN/A
EBIT Next Year17.65%
EBIT Next 3Y17.42%
EBIT Next 5Y-9.47%
FCF growth 1Y443.87%
FCF growth 3Y14.94%
FCF growth 5YN/A
OCF growth 1Y321.52%
OCF growth 3Y13.38%
OCF growth 5YN/A

INCYTE CORP / INCY Fundamental Analysis FAQ

What is the fundamental rating for INCY stock?

ChartMill assigns a fundamental rating of 7 / 10 to INCY.


What is the valuation status of INCYTE CORP (INCY) stock?

ChartMill assigns a valuation rating of 7 / 10 to INCYTE CORP (INCY). This can be considered as Undervalued.


Can you provide the profitability details for INCYTE CORP?

INCYTE CORP (INCY) has a profitability rating of 9 / 10.


What is the valuation of INCYTE CORP based on its PE and PB ratios?

The Price/Earnings (PE) ratio for INCYTE CORP (INCY) is 14.01 and the Price/Book (PB) ratio is 3.66.