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Incyte Corporation(INCY)Earnings, Financials & Key Ratios
INCY•NASDAQ
$118.05
18.4× P/E·Price updated Jul 7, 2026
AboutIncyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia. Its clinical stage products include ruxolitinib, a steroid-refractory chronic graft-versus-host-diseases (GVHD); itacitinib, which is in Phase II/III clinical trial to treat naive chronic GVHD; and pemigatinib for treating bladder cancer, cholangiocarcinoma, myeloproliferative syndrome, and tumor agnostic. In addition, the company engages in developing Parsaclisib, which is in Phase II clinical trial for follicular lymphoma, marginal zone lymphoma, and mantel cell lymphoma. Additionally, it develops Retifanlimab that is in Phase II clinical trials for MSI-high endometrial cancer, merkel cell carcinoma, and anal cancer, as well as in Phase II clinical trials for patients with non-small cell lung cancer. It has collaboration agreements with Novartis International Pharmaceutical Ltd.; Eli Lilly and Company; Agenus Inc.; Calithera Biosciences, Inc; MacroGenics, Inc.; Merus N.V.; Syros Pharmaceuticals, Inc.; Innovent Biologics, Inc.; Zai Lab Limited; Cellenkos, Inc.; and Nimble Therapeutics, as well as clinical collaborations with MorphoSys AG and Xencor, Inc. to investigate the combination of tafasitamab, plamotamab, and lenalidomide in patients with relapsed or refractory diffuse large B-cell lymphoma, and relapsed or refractory follicular lymphoma. The company was incorporated in 1991 and is headquartered in Wilmington, Delaware.Show more
- Revenue$5.14B+21.2%
- EBITDA$1.44B+747.8%
- Net Income$1.29B+3845.0%
- EPS (Diluted)6.41+4173.3%
- Gross Margin91.47%+0.4%
- EBITDA Margin27.93%+599.4%
- Operating Margin26.12%+1282.2%
- Net Margin25.03%+3154.4%
- ROE29.87%+3855.2%
INCY Price & Volume
Incyte Corporation (INCY) stock price & volume — 10-year historical chart
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Dermatology Growth Offsets Impending Patent Cliff Risks
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Expanding
Profitability:Moderate
Financial:Fortress
Cash Flow:Mixed
Primary Risk:2028 Jakafi patent cliff
Key Thesis Takeaways
- Incyte is successfully pivoting its revenue base toward the Opzelura dermatology franchise to mitigate the long-term impact of the 2028 Jakafi patent expiration.
- While the company maintains a fortress balance sheet with $3.5 billion in cash, investors should monitor the volatility in operating margins, which fluctuated between 10% and 32% over the last ten quarters due to heavy R&D reinvestment.
- The firm's ability to scale its non-oncology portfolio remains the critical determinant for sustaining its current 20.9% year-over-year revenue growth rate.
Verdict Logic
while the company exhibits a strong liquidity position with $3.5 billion in cash, the 2028 Jakafi patent cliff warrants caution as the firm attempts to scale its dermatology franchise to replace high-margin oncology earnings.
INCY Growth Metrics
Incyte Corporation (INCY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years21.17%
5 Years14.03%
3 Years14.84%
TTM21.48%
Profit CAGR
10 Years69.61%
5 Years-
3 Years55.73%
TTM6631.44%
EPS CAGR
10 Years70.99%
5 Years-
3 Years61.56%
TTM2112.5%
Return on Capital
10 Years9.16%
5 Years15.08%
3 Years14.5%
Last Year29.05%
INCY Recent Earnings
Incyte Corporation (INCY) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
Apr 28, 2026Metric
Actual
Est
EPS
$1.81+31.2%
$1.38
Rev
$1.3B+4.7%
$1.2B
Q1 2026
Feb 10, 2026Metric
Actual
Est
EPS
$1.80-5.3%
$1.90
Rev
$1.5B+11.2%
$1.4B
Q4 2025
Oct 28, 2025Metric
Actual
Est
EPS
$2.26+36.1%
$1.66
Rev
$1.4B+0.9%
$1.4B
Q3 2025
Jul 29, 2025Metric
Actual
Est
EPS
$1.57+12.9%
$1.39
Rev
$1.2B-3.3%
$1.3B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $1.81vs $1.38+31.2% | $1.3Bvs $1.2B+4.7% |
| Q1 2026 | Feb 10, 2026 | $1.80vs $1.90-5.3% | $1.5Bvs $1.4B+11.2% |
| Q4 2025 | Oct 28, 2025 | $2.26vs $1.66+36.1% | $1.4Bvs $1.4B+0.9% |
| Q3 2025 | Jul 29, 2025 | $1.57vs $1.39+12.9% | $1.2Bvs $1.3B-3.3% |
Based on last 12 quarters of dataView full earnings history →
Latest INCY News
Recent stock market news and headlines for Incyte Corporation (INCY)
Zacks Investment Research·Jun 29, 2026
INCY Stock Hits 52-Week High on Regulatory Updates for OpzeluraIncyte shares hit a 52-week high as Opzelura gains regulatory momentum, pipeline advances and a CMS settlement boosts investor sentiment.
Zacks Investment Research·Jun 29, 2026
Incyte (INCY) Surges 5.8%: Is This an Indication of Further Gains?Incyte (INCY) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
Seeking Alpha·Jun 29, 2026
Incyte: New Catalysts Support Another Leg HigherIncyte Corporation remains a strong long pick, with a maintained 'Buy' rating and a 40% upside to a $159.5/share price target. Recent catalysts include a positive CHMP opinion for Opzelura in Europe and the acquisition of Vega Therapeutics, expanding INCY's product portfolio and reducing Jakafi concentration risk. Q1 2026 results showed robust diversification: revenues up 21% YoY, adjusted EPS up 56% YoY, and ex-Jakafi sales up 63% YoY.
GuruFocus·Jun 26, 2026
Incyte Announces Positive CHMP Opinion for Opzelura® (ruxolitinib) Cream for the Treatment of Adults with Moderate Atopic DermatitisIncyte (Nasdaq: INCY) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has issued a positi
Peers Comparison
Key metrics vs top competitors for Incyte Corporation (INCY)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $118.05 | $23.58B | 18.42 | 21.22% | 25.03% | 29.87% | — | |
| $55.22 | $9.2B | 38.62 | -5.25% | 9.78% | 8.82% | — | |
| $247.72 | $15.54B | -42.42 | 4.88% | 0.66% | 0.71% | — | |
| $57.08 | $14.5B | 20.53 | 6.98% | 35.08% | 40.21% | — | |
| $81.57 | $9.68B | 31.86 | 37.55% | 23.13% | 126.27% | — | |
| $86.33 | $14.27B | -36.27 | 33.87% | -30.87% | -58.57% | — |
Compare INCY vs Peers
Incyte Corporation (INCY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
INCY SEC Filings & Documents
Incyte Corporation (INCY) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
Apr 28, 2026·SEC
Material company update
Mar 30, 2026·SEC
Material company update
Mar 26, 2026·SEC
10-K Annual Reports
210-Q Quarterly Reports
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INCY Frequently Asked Questions
Incyte Corporation (INCY) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Incyte Corporation's revenue?
Incyte Corporation (INCY) reported $5.36B in revenue for fiscal year 2025. This represents a 12725% increase from $41.8M in 1996.
How fast is Incyte Corporation growing?
Incyte Corporation (INCY) grew revenue by 21.2% over the past year. This is strong growth.
Is INCY profitable?
Yes, Incyte Corporation (INCY) is profitable, generating $1.43B in net income for fiscal year 2025 (25.0% net margin).
Dividend & Returns
What is INCY's return on equity?
Incyte Corporation (INCY) has a return on equity (ROE) of 29.9%. This is excellent, indicating efficient use of shareholder capital.
What is Incyte Corporation's free cash flow?
Incyte Corporation (INCY) generated $1.45B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.