INCYTE CORP (INCY) Fundamental Analysis & Valuation

NASDAQ:INCY • US45337C1027

Current stock price

90.78 USD
-2.17 (-2.33%)
At close:
90.78 USD
0 (0%)
After Hours:

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.
  • In the past year INCY had a positive cash flow from operations.
  • Each year in the past 5 years INCY has been profitable.
  • In the past 5 years INCY always reported a positive cash flow from operatings.
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

  • Looking at the Return On Assets, with a value of 18.49%, INCY belongs to the top of the industry, outperforming 96.33% of the companies in the same industry.
  • The Return On Equity of INCY (24.90%) is better than 96.33% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 19.49%, INCY belongs to the top of the industry, outperforming 97.49% 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 19.64%.
  • 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

  • INCY has a better Profit Margin (25.03%) than 94.39% of its industry peers.
  • INCY's Profit Margin has improved in the last couple of years.
  • The Operating Margin of INCY (26.12%) is better than 94.78% of its industry peers.
  • In the last couple of years the Operating Margin of INCY has grown nicely.
  • Looking at the Gross Margin, with a value of 93.26%, INCY belongs to the top of the industry, outperforming 94.00% of the companies in the same industry.
  • 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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ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. INCY Health Analysis

2.1 Basic Checks

  • INCY has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • INCY has more shares outstanding than it did 1 year ago.
  • The number of shares outstanding for INCY has been reduced compared to 5 years ago.
  • The debt/assets ratio for INCY has been reduced compared to a year ago.
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

  • INCY has an Altman-Z score of 8.22. This indicates that INCY is financially healthy and has little risk of bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 8.22, INCY belongs to the top of the industry, outperforming 80.27% of the companies in the same industry.
  • 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.
  • INCY has a better Debt to FCF ratio (0.03) than 96.33% of its industry peers.
  • A Debt/Equity ratio of 0.01 indicates that INCY is not too dependend on debt financing.
  • With a Debt to Equity ratio value of 0.01, INCY perfoms like the industry average, outperforming 47.20% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.03
Altman-Z 8.22
ROIC/WACC2.16
WACC9.02%
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.
  • Looking at the Current ratio, with a value of 3.32, INCY is doing worse than 60.93% of the companies in the same industry.
  • INCY has a Quick Ratio of 3.25. This indicates that INCY is financially healthy and has no problem in meeting its short term obligations.
  • The Quick ratio of INCY (3.25) is worse than 60.54% 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.
  • The Earnings Per Share has been growing by 34.67% on average over the past years. This is a very strong growth
  • The Revenue has grown by 21.22% in the past year. This is a very strong growth!
  • INCY shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 14.03% yearly.
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 -8.29% yearly.
  • INCY is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -0.83% yearly.
EPS Next Y12.8%
EPS Next 2Y14.98%
EPS Next 3Y12.24%
EPS Next 5Y-8.29%
Revenue Next Year12.41%
Revenue Next 2Y11.32%
Revenue Next 3Y8.49%
Revenue Next 5Y-0.83%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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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8

4. INCY Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 13.37, INCY is valued correctly.
  • Compared to the rest of the industry, the Price/Earnings ratio of INCY indicates a rather cheap valuation: INCY is cheaper than 95.94% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of INCY to the average of the S&P500 Index (25.23), we can say INCY is valued slightly cheaper.
  • With a Price/Forward Earnings ratio of 11.85, the valuation of INCY can be described as very reasonable.
  • Based on the Price/Forward Earnings ratio, INCY is valued cheaply inside the industry as 96.91% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 23.28, INCY is valued a bit cheaper.
Industry RankSector Rank
PE 13.37
Fwd PE 11.85
INCY Price Earnings VS Forward Price EarningsINCY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, INCY is valued cheaply inside the industry as 96.33% of the companies are valued more expensively.
  • INCY's Price/Free Cash Flow ratio is rather cheap when compared to the industry. INCY is cheaper than 97.10% of the companies in the same industry.
Industry RankSector Rank
P/FCF 13.34
EV/EBITDA 10.08
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.
  • The excellent profitability rating of INCY may justify a higher PE ratio.
  • A more expensive valuation may be justified as INCY's earnings are expected to grow with 12.24% in the coming years.
PEG (NY)1.04
PEG (5Y)N/A
EPS Next 2Y14.98%
EPS Next 3Y12.24%

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

0

5. INCY Dividend Analysis

5.1 Amount

  • INCY does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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INCY Fundamentals: All Metrics, Ratios and Statistics

INCYTE CORP

NASDAQ:INCY (3/20/2026, 8:01:39 PM)

After market: 90.78 0 (0%)

90.78

-2.17 (-2.33%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)02-10
Earnings (Next)04-27
Inst Owners104.37%
Inst Owner Change0.65%
Ins Owners0.94%
Ins Owner Change-10.92%
Market Cap18.07B
Revenue(TTM)5.14B
Net Income(TTM)1.29B
Analysts75.15
Price Target109.32 (20.42%)
Short Float %5.65%
Short Ratio5.75
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)4.64%
PT rev (3m)13.56%
EPS NQ rev (1m)-15.63%
EPS NQ rev (3m)-15.94%
EPS NY rev (1m)-4.34%
EPS NY rev (3m)-4.96%
Revenue NQ rev (1m)0.87%
Revenue NQ rev (3m)1.03%
Revenue NY rev (1m)1.35%
Revenue NY rev (3m)1.44%
Valuation
Industry RankSector Rank
PE 13.37
Fwd PE 11.85
P/S 3.51
P/FCF 13.34
P/OCF 12.78
P/B 3.5
P/tB 3.67
EV/EBITDA 10.08
EPS(TTM)6.79
EY7.48%
EPS(NY)7.66
Fwd EY8.44%
FCF(TTM)6.81
FCFY7.5%
OCF(TTM)7.1
OCFY7.82%
SpS25.83
BVpS25.97
TBVpS24.71
PEG (NY)1.04
PEG (5Y)N/A
Graham Number62.98
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 8.22
F-Score7
WACC9.02%
ROIC/WACC2.16
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 Y12.8%
EPS Next 2Y14.98%
EPS Next 3Y12.24%
EPS Next 5Y-8.29%
Revenue 1Y (TTM)21.22%
Revenue growth 3Y14.84%
Revenue growth 5Y14.03%
Sales Q2Q%27.84%
Revenue Next Year12.41%
Revenue Next 2Y11.32%
Revenue Next 3Y8.49%
Revenue Next 5Y-0.83%
EBIT growth 1Y1102.71%
EBIT growth 3Y30.84%
EBIT growth 5YN/A
EBIT Next Year16.99%
EBIT Next 3Y17.2%
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 8 / 10 to INCYTE CORP (INCY). This can be considered as Undervalued.


How profitable is INCYTE CORP (INCY) stock?

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


How financially healthy is INCYTE CORP?

The financial health rating of INCYTE CORP (INCY) is 7 / 10.


Can you provide the expected EPS growth for INCY stock?

The Earnings per Share (EPS) of INCYTE CORP (INCY) is expected to grow by 12.8% in the next year.