INCYTE CORP (INCY) Stock Fundamental Analysis

NASDAQ:INCY • US45337C1027

101.27 USD
+1.18 (+1.18%)
At close: Feb 27, 2026
100.89 USD
-0.38 (-0.38%)
After Hours: 2/27/2026, 8:11:11 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

7

Taking everything into account, INCY scores 7 out of 10 in our fundamental rating. INCY was compared to 521 industry peers in the Biotechnology industry. Both the health and profitability get an excellent rating, making INCY a very profitable company, without any liquidiy or solvency issues. 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

9

1. Profitability

1.1 Basic Checks

  • INCY had positive earnings in the past year.
  • INCY had a positive operating cash flow in the past year.
  • INCY had positive earnings in each of the past 5 years.
  • 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 96.93% of the companies in the same industry.
  • INCY's Return On Equity of 24.90% is amongst the best of the industry. INCY outperforms 96.55% of its industry peers.
  • INCY has a Return On Invested Capital of 19.49%. This is amongst the best in 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 18.14%.
  • 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's Profit Margin of 25.03% is amongst the best of the industry. INCY outperforms 95.01% of its industry peers.
  • In the last couple of years the Profit Margin of INCY has grown nicely.
  • INCY has a better Operating Margin (26.12%) than 95.59% of its industry peers.
  • In the last couple of years the Operating Margin of INCY has grown nicely.
  • INCY has a Gross Margin of 93.26%. This is amongst the best in the industry. INCY outperforms 94.24% 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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ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so INCY is creating value.
  • Compared to 1 year ago, INCY has more shares outstanding
  • 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

  • An Altman-Z score of 8.61 indicates that INCY is not in any danger for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 8.61, INCY is in the better half of the industry, outperforming 79.85% 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 96.16% of its industry peers.
  • A Debt/Equity ratio of 0.01 indicates that INCY is not too dependend on debt financing.
  • INCY has a Debt to Equity ratio (0.01) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.03
Altman-Z 8.61
ROIC/WACC2.27
WACC8.6%
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 is not doing good in the industry: 60.46% of the companies in the same industry are doing better.
  • A Quick Ratio of 3.25 indicates that INCY has no problem at all paying its short term obligations.
  • INCY has a Quick ratio (3.25) which 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.
  • INCY shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 34.67% yearly.
  • The Revenue has grown by 21.22% in the past year. This is a very strong growth!
  • 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

  • Based on estimates for the next years, INCY will show a decrease in Earnings Per Share. The EPS will decrease by -7.86% on average per year.
  • The Revenue is expected to decrease by -1.16% on average over the next years.
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

  • 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 10

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Find the best growth stocksShow best growing peers

8

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 14.91, which indicates a correct valuation of INCY.
  • 95.59% of the companies in the same industry are more expensive than INCY, based on the Price/Earnings ratio.
  • Compared to an average S&P500 Price/Earnings ratio of 27.10, INCY is valued a bit cheaper.
  • A Price/Forward Earnings ratio of 12.65 indicates a correct valuation of INCY.
  • 96.93% of the companies in the same industry are more expensive than INCY, based on the Price/Forward Earnings ratio.
  • INCY's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.06.
Industry RankSector Rank
PE 14.91
Fwd PE 12.65
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 96.74% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, INCY is valued cheaply inside the industry as 96.93% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 14.68
EV/EBITDA 10.88
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.
  • A more expensive valuation may be justified as INCY's earnings are expected to grow with 14.58% in the coming years.
PEG (NY)0.83
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 (2/27/2026, 8:11:11 PM)

After market: 100.89 -0.38 (-0.38%)

101.27

+1.18 (+1.18%)

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 Change-0.2%
Ins Owners0.96%
Ins Owner Change-10.69%
Market Cap19.88B
Revenue(TTM)5.14B
Net Income(TTM)1.29B
Analysts75
Price Target109.32 (7.95%)
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)0.33%
PT rev (3m)10.52%
EPS NQ rev (1m)-16.67%
EPS NQ rev (3m)-13.11%
EPS NY rev (1m)-0.36%
EPS NY rev (3m)1.08%
Revenue NQ rev (1m)1.18%
Revenue NQ rev (3m)1.34%
Revenue NY rev (1m)1.37%
Revenue NY rev (3m)2.09%
Valuation
Industry RankSector Rank
PE 14.91
Fwd PE 12.65
P/S 3.87
P/FCF 14.68
P/OCF 14.07
P/B 3.85
P/tB 4.04
EV/EBITDA 10.88
EPS(TTM)6.79
EY6.7%
EPS(NY)8.01
Fwd EY7.91%
FCF(TTM)6.9
FCFY6.81%
OCF(TTM)7.2
OCFY7.11%
SpS26.19
BVpS26.32
TBVpS25.05
PEG (NY)0.83
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 8.61
F-Score7
WACC8.6%
ROIC/WACC2.27
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 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 17.92% in the next year.