INCYTE CORP (INCY) Stock Fundamental Analysis

USA • Nasdaq • NASDAQ:INCY • US45337C1027

109.03 USD
+0.64 (+0.59%)
At close: Feb 9, 2026
109.333 USD
+0.3 (+0.28%)
After Hours: 2/9/2026, 8:08:22 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

Taking everything into account, INCY scores 6 out of 10 in our fundamental rating. INCY was compared to 523 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 These ratings would make INCY suitable for value and quality investing!


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • INCY had positive earnings in the past year.
  • In the past year INCY had a positive cash flow from operations.
  • Of the past 5 years INCY 4 years were profitable.
  • Of the past 5 years INCY 4 years 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 0 200M -200M 400M 600M 800M

1.2 Ratios

  • With an excellent Return On Assets value of 18.78%, INCY belongs to the best of the industry, outperforming 96.75% of the companies in the same industry.
  • INCY has a Return On Equity of 25.55%. This is amongst the best in the industry. INCY outperforms 96.94% of its industry peers.
  • With an excellent Return On Invested Capital value of 19.88%, INCY belongs to the best of the industry, outperforming 97.71% of the companies in the same industry.
  • INCY had an Average Return On Invested Capital over the past 3 years of 7.24%. This is significantly below the industry average of 18.12%.
  • The 3 year average ROIC (7.24%) for INCY is below the current ROIC(19.88%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 18.78%
ROE 25.55%
ROIC 19.88%
ROA(3y)5.08%
ROA(5y)5.23%
ROE(3y)6.75%
ROE(5y)6.82%
ROIC(3y)7.24%
ROIC(5y)N/A
INCY Yearly ROA, ROE, ROICINCY Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20

1.3 Margins

  • INCY has a Profit Margin of 24.69%. This is amongst the best in the industry. INCY outperforms 94.84% of its industry peers.
  • In the last couple of years the Profit Margin of INCY has declined.
  • Looking at the Operating Margin, with a value of 26.10%, INCY belongs to the top of the industry, outperforming 95.98% of the companies in the same industry.
  • INCY's Operating Margin has declined in the last couple of years.
  • INCY has a better Gross Margin (93.47%) than 94.46% 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 26.1%
PM (TTM) 24.69%
GM 93.47%
OM growth 3Y-50.23%
OM growth 5Y-33.03%
PM growth 3Y-71.07%
PM growth 5Y-48.24%
GM growth 3Y-0.87%
GM growth 5Y-0.53%
INCY Yearly Profit, Operating, Gross MarginsINCY Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. Health

2.1 Basic Checks

  • INCY has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • INCY has less 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 is higher compared to a year ago.
INCY Yearly Shares OutstandingINCY Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 2B 4B 6B

2.2 Solvency

  • INCY has an Altman-Z score of 9.56. This indicates that INCY is financially healthy and has little risk of bankruptcy at the moment.
  • INCY has a better Altman-Z score (9.56) than 81.07% 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.
  • The Debt to FCF ratio of INCY (0.03) is better than 96.37% 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.
  • The Debt to Equity ratio of INCY (0.01) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.03
Altman-Z 9.56
ROIC/WACC1.6
WACC12.44%
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 0 1B 2B 3B 4B 5B

2.3 Liquidity

  • A Current Ratio of 3.20 indicates that INCY has no problem at all paying its short term obligations.
  • With a Current ratio value of 3.20, INCY is not doing good in the industry: 61.76% of the companies in the same industry are doing better.
  • A Quick Ratio of 3.13 indicates that INCY has no problem at all paying its short term obligations.
  • INCY has a Quick ratio of 3.13. This is comparable to the rest of the industry: INCY outperforms 40.15% of its industry peers.
Industry RankSector Rank
Current Ratio 3.2
Quick Ratio 3.13
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 1B 2B 3B 4B

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

6

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 575.79% over the past year.
  • INCY shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -14.21% yearly.
  • The Revenue has grown by 18.09% in the past year. This is quite good.
  • INCY shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 14.46% yearly.
EPS 1Y (TTM)575.79%
EPS 3Y-21.7%
EPS 5Y-14.21%
EPS Q2Q%111.21%
Revenue 1Y (TTM)18.09%
Revenue growth 3Y12.41%
Revenue growth 5Y14.46%
Sales Q2Q%20.05%

3.2 Future

  • The Earnings Per Share is expected to grow by 29.11% on average over the next years. This is a very strong growth
  • The Revenue is expected to grow by 1.31% on average over the next years.
EPS Next Y429.36%
EPS Next 2Y146.29%
EPS Next 3Y89.43%
EPS Next 5Y29.11%
Revenue Next Year18.33%
Revenue Next 2Y14.56%
Revenue Next 3Y12.98%
Revenue Next 5Y1.31%

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 accelerating.
  • 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

  • INCY is valuated correctly with a Price/Earnings ratio of 16.98.
  • Based on the Price/Earnings ratio, INCY is valued cheaply inside the industry as 95.98% of the companies are valued more expensively.
  • When comparing the Price/Earnings ratio of INCY to the average of the S&P500 Index (28.06), we can say INCY is valued slightly cheaper.
  • A Price/Forward Earnings ratio of 13.62 indicates a correct valuation of INCY.
  • Based on the Price/Forward Earnings ratio, INCY is valued cheaper than 96.75% 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 27.86.
Industry RankSector Rank
PE 16.98
Fwd PE 13.62
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of INCY indicates a rather cheap valuation: INCY is cheaper than 95.60% of the companies listed in the same industry.
  • 96.37% of the companies in the same industry are more expensive than INCY, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 17.88
EV/EBITDA 13.28
INCY Per share dataINCY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

  • INCY's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • INCY has a very decent profitability rating, which may justify a higher PE ratio.
  • INCY's earnings are expected to grow with 89.43% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.04
PEG (5Y)N/A
EPS Next 2Y146.29%
EPS Next 3Y89.43%

More info and screens

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

0

5. Dividend

5.1 Amount

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

More info and screens

Find the best dividend stocksShow peers with best dividend

INCYTE CORP

NASDAQ:INCY (2/9/2026, 8:08:22 PM)

After market: 109.333 +0.3 (+0.28%)

109.03

+0.64 (+0.59%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)10-28
Earnings (Next)02-10
Inst Owners105.27%
Inst Owner Change-0.92%
Ins Owners0.96%
Ins Owner Change-10.69%
Market Cap21.40B
Revenue(TTM)4.81B
Net Income(TTM)1.19B
Analysts75.63
Price Target104.47 (-4.18%)
Short Float %5.62%
Short Ratio5.31
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)2
Avg EPS beat(2)19.23%
Min EPS beat(2)4.72%
Max EPS beat(2)33.74%
EPS beat(4)3
Avg EPS beat(4)10.09%
Min EPS beat(4)-10.01%
Max EPS beat(4)33.74%
EPS beat(8)3
Avg EPS beat(8)-1.54%
EPS beat(12)6
Avg EPS beat(12)-3.05%
EPS beat(16)7
Avg EPS beat(16)-8.28%
Revenue beat(2)2
Avg Revenue beat(2)5.08%
Min Revenue beat(2)3.45%
Max Revenue beat(2)6.72%
Revenue beat(4)4
Avg Revenue beat(4)3.8%
Min Revenue beat(4)1.09%
Max Revenue beat(4)6.72%
Revenue beat(8)5
Avg Revenue beat(8)1.4%
Revenue beat(12)7
Avg Revenue beat(12)0.24%
Revenue beat(16)9
Avg Revenue beat(16)0.48%
PT rev (1m)2.72%
PT rev (3m)19.27%
EPS NQ rev (1m)0.49%
EPS NQ rev (3m)0.52%
EPS NY rev (1m)0.12%
EPS NY rev (3m)0.32%
Revenue NQ rev (1m)0.22%
Revenue NQ rev (3m)0.22%
Revenue NY rev (1m)0.06%
Revenue NY rev (3m)0.28%
Valuation
Industry RankSector Rank
PE 16.98
Fwd PE 13.62
P/S 4.45
P/FCF 17.88
P/OCF 17.1
P/B 4.6
P/tB 4.89
EV/EBITDA 13.28
EPS(TTM)6.42
EY5.89%
EPS(NY)8.01
Fwd EY7.34%
FCF(TTM)6.1
FCFY5.59%
OCF(TTM)6.37
OCFY5.85%
SpS24.52
BVpS23.69
TBVpS22.29
PEG (NY)0.04
PEG (5Y)N/A
Graham Number58.5
Profitability
Industry RankSector Rank
ROA 18.78%
ROE 25.55%
ROCE 25.17%
ROIC 19.88%
ROICexc 48.14%
ROICexgc 55.55%
OM 26.1%
PM (TTM) 24.69%
GM 93.47%
FCFM 24.87%
ROA(3y)5.08%
ROA(5y)5.23%
ROE(3y)6.75%
ROE(5y)6.82%
ROIC(3y)7.24%
ROIC(5y)N/A
ROICexc(3y)25.32%
ROICexc(5y)N/A
ROICexgc(3y)31.6%
ROICexgc(5y)N/A
ROCE(3y)9.17%
ROCE(5y)N/A
ROICexgc growth 3Y-34.92%
ROICexgc growth 5Y-33.44%
ROICexc growth 3Y-36.33%
ROICexc growth 5Y-29.08%
OM growth 3Y-50.23%
OM growth 5Y-33.03%
PM growth 3Y-71.07%
PM growth 5Y-48.24%
GM growth 3Y-0.87%
GM growth 5Y-0.53%
F-Score7
Asset Turnover0.76
Health
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.03
Debt/EBITDA 0.02
Cap/Depr 59.08%
Cap/Sales 1.13%
Interest Coverage 250
Cash Conversion 92.81%
Profit Quality 100.71%
Current Ratio 3.2
Quick Ratio 3.13
Altman-Z 9.56
F-Score7
WACC12.44%
ROIC/WACC1.6
Cap/Depr(3y)83.51%
Cap/Depr(5y)185.09%
Cap/Sales(3y)1.73%
Cap/Sales(5y)3.66%
Profit Quality(3y)367.72%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)575.79%
EPS 3Y-21.7%
EPS 5Y-14.21%
EPS Q2Q%111.21%
EPS Next Y429.36%
EPS Next 2Y146.29%
EPS Next 3Y89.43%
EPS Next 5Y29.11%
Revenue 1Y (TTM)18.09%
Revenue growth 3Y12.41%
Revenue growth 5Y14.46%
Sales Q2Q%20.05%
Revenue Next Year18.33%
Revenue Next 2Y14.56%
Revenue Next 3Y12.98%
Revenue Next 5Y1.31%
EBIT growth 1Y6374.01%
EBIT growth 3Y-44.05%
EBIT growth 5Y-23.34%
EBIT Next Year366.76%
EBIT Next 3Y85.64%
EBIT Next 5Y26.81%
FCF growth 1Y106.03%
FCF growth 3Y-24.05%
FCF growth 5Y-17.01%
OCF growth 1Y97.88%
OCF growth 3Y-23.52%
OCF growth 5Y-13.95%

INCYTE CORP / INCY FAQ

What is the fundamental rating for INCY stock?

ChartMill assigns a fundamental rating of 6 / 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 7 / 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 429.36% in the next year.