INCYTE CORP (INCY) Stock Fundamental Analysis

NASDAQ:INCY • US45337C1027

102.99 USD
+1.83 (+1.81%)
Last: Feb 18, 2026, 11:03 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

7

We assign a fundamental rating of 7 out of 10 to INCY. INCY was compared to 521 industry peers in the Biotechnology industry. INCY scores excellent points on both the profitability and health parts. This is a solid base for a good stock. INCY may be a bit undervalued, certainly considering the very reasonable score on growth This makes INCY very considerable for value and quality investing!


Dividend Valuation Growth Profitability Health

9

1. Profitability

1.1 Basic Checks

  • In the past year INCY was profitable.
  • In the past year INCY had a positive cash flow from operations.
  • In the past 5 years INCY has always been profitable.
  • INCY had a positive operating cash flow in each of the past 5 years.
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 96.74% of the companies in the same industry.
  • The Return On Equity of INCY (24.90%) is better than 96.55% of its industry peers.
  • INCY's Return On Invested Capital of 19.49% is amongst the best of the industry. INCY outperforms 97.70% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for INCY is significantly below the industry average of 18.69%.
  • 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

  • With an excellent Profit Margin value of 25.03%, INCY belongs to the best of the industry, outperforming 95.01% of the companies in the same industry.
  • In the last couple of years the Profit Margin of INCY has grown nicely.
  • INCY has a better Operating Margin (26.12%) than 95.78% of its industry peers.
  • INCY's Operating Margin has improved in the last couple of years.
  • With an excellent Gross Margin value of 93.26%, INCY belongs to the best of the industry, outperforming 94.05% 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

8

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), 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

  • INCY has an Altman-Z score of 8.68. This indicates that INCY is financially healthy and has little risk of bankruptcy at the moment.
  • INCY's Altman-Z score of 8.68 is amongst the best of the industry. INCY outperforms 80.61% of its industry peers.
  • INCY has a debt to FCF ratio of 0.03. This is a very positive value and a sign of high solvency as it would only need 0.03 years to pay back of all of its debts.
  • INCY has a Debt to FCF ratio of 0.03. This is amongst the best in the industry. INCY outperforms 96.16% of its industry peers.
  • A Debt/Equity ratio of 0.01 indicates that INCY is not too dependend on debt financing.
  • INCY's Debt to Equity ratio of 0.01 is in line compared to the rest of the industry. INCY outperforms 47.02% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.03
Altman-Z 8.68
ROIC/WACC2.25
WACC8.67%
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

  • INCY has a Current Ratio of 3.32. This indicates that INCY is financially healthy and has no problem in meeting its short term obligations.
  • The Current ratio of INCY (3.32) is worse than 60.27% of its industry peers.
  • 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 comparable to the rest of the industry.
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. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 414.39% over the past year.
  • The Earnings Per Share has been growing by 34.67% on average over the past years. This is a very strong growth
  • INCY shows a strong growth in Revenue. In the last year, the Revenue has grown by 21.22%.
  • 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 -7.86% yearly.
  • INCY is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -1.16% yearly.
EPS Next Y17.92%
EPS Next 2Y14.96%
EPS Next 3Y14.58%
EPS Next 5Y-7.86%
Revenue Next Year12.47%
Revenue Next 2Y11.21%
Revenue Next 3Y8.45%
Revenue Next 5Y-1.16%

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.
  • 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 10

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Find the best growth stocksShow best growing peers

8

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 15.17, INCY is valued correctly.
  • Based on the Price/Earnings ratio, INCY is valued cheaply inside the industry as 96.16% of the companies are valued more expensively.
  • The average S&P500 Price/Earnings ratio is at 27.16. INCY is valued slightly cheaper when compared to this.
  • The Price/Forward Earnings ratio is 12.86, which indicates a correct valuation of INCY.
  • Based on the Price/Forward Earnings ratio, INCY is valued cheaper than 97.31% of the companies in the same industry.
  • INCY's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.10.
Industry RankSector Rank
PE 15.17
Fwd PE 12.86
INCY Price Earnings VS Forward Price EarningsINCY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, INCY is valued cheaper than 96.74% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, INCY is valued cheaper than 96.93% of the companies in the same industry.
Industry RankSector Rank
P/FCF 14.93
EV/EBITDA 11.02
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

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The excellent profitability rating of INCY may justify a higher PE ratio.
  • INCY's earnings are expected to grow with 14.58% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.85
PEG (5Y)N/A
EPS Next 2Y14.96%
EPS Next 3Y14.58%

More info and screens

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

0

5. Dividend

5.1 Amount

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

More info and screens

Find the best dividend stocksShow peers with best dividend

INCYTE CORP

NASDAQ:INCY (2/18/2026, 11:03:19 AM)

102.99

+1.83 (+1.81%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)02-10
Earnings (Next)04-27
Inst Owners105.27%
Inst Owner Change0.54%
Ins Owners0.96%
Ins Owner Change-10.69%
Market Cap20.22B
Revenue(TTM)5.14B
Net Income(TTM)1.29B
Analysts75
Price Target104.47 (1.44%)
Short Float %5.82%
Short Ratio5.37
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)2.72%
PT rev (3m)19.27%
EPS NQ rev (1m)0.28%
EPS NQ rev (3m)0.49%
EPS NY rev (1m)0.12%
EPS NY rev (3m)0.32%
Revenue NQ rev (1m)0.22%
Revenue NQ rev (3m)0.15%
Revenue NY rev (1m)0.08%
Revenue NY rev (3m)0.28%
Valuation
Industry RankSector Rank
PE 15.17
Fwd PE 12.86
P/S 3.93
P/FCF 14.93
P/OCF 14.3
P/B 3.91
P/tB 4.11
EV/EBITDA 11.02
EPS(TTM)6.79
EY6.59%
EPS(NY)8.01
Fwd EY7.77%
FCF(TTM)6.9
FCFY6.7%
OCF(TTM)7.2
OCFY6.99%
SpS26.19
BVpS26.32
TBVpS25.05
PEG (NY)0.85
PEG (5Y)N/A
Graham Number63.41
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 8.68
F-Score7
WACC8.67%
ROIC/WACC2.25
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 Y17.92%
EPS Next 2Y14.96%
EPS Next 3Y14.58%
EPS Next 5Y-7.86%
Revenue 1Y (TTM)21.22%
Revenue growth 3Y14.84%
Revenue growth 5Y14.03%
Sales Q2Q%27.84%
Revenue Next Year12.47%
Revenue Next 2Y11.21%
Revenue Next 3Y8.45%
Revenue Next 5Y-1.16%
EBIT growth 1Y1102.71%
EBIT growth 3Y30.84%
EBIT growth 5YN/A
EBIT Next Year29.1%
EBIT Next 3Y3.67%
EBIT Next 5Y-9.44%
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 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 8 / 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 17.92% in the next year.