INCYTE CORP (INCY) Fundamental Analysis & Valuation

NASDAQ:INCY • US45337C1027

Current stock price

90.45 USD
-0.33 (-0.36%)
At close:
90.5515 USD
+0.1 (+0.11%)
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

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

  • INCY has a Return On Assets of 18.49%. This is amongst the best in the industry. INCY outperforms 96.15% of its industry peers.
  • INCY's Return On Equity of 24.90% is amongst the best of the industry. INCY outperforms 96.34% of its industry peers.
  • The Return On Invested Capital of INCY (19.49%) is better than 97.50% of its industry peers.
  • INCY had an Average Return On Invested Capital over the past 3 years of 10.37%. This is significantly below the industry average of 18.89%.
  • 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

  • Looking at the Profit Margin, with a value of 25.03%, INCY belongs to the top of the industry, outperforming 93.64% of the companies in the same industry.
  • INCY's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 26.12%, INCY belongs to the top of the industry, outperforming 94.61% of the companies in the same industry.
  • INCY's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 93.26%, INCY belongs to the top of the industry, outperforming 93.64% 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. 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.
  • INCY has less shares outstanding than it did 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 8.08 indicates that INCY is not in any danger for bankruptcy at the moment.
  • With an excellent Altman-Z score value of 8.08, INCY belongs to the best of the industry, outperforming 80.54% 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.
  • Looking at the Debt to FCF ratio, with a value of 0.03, INCY belongs to the top of the industry, outperforming 96.15% of the companies in the same industry.
  • 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 47.98% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.03
Altman-Z 8.08
ROIC/WACC2.1
WACC9.28%
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.
  • INCY has a worse Current ratio (3.32) than 60.69% 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.
  • INCY's Quick ratio of 3.25 is in line compared to the rest of the industry. INCY outperforms 40.08% 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.
  • Measured over the past years, INCY shows a very strong growth in Earnings Per Share. The EPS has been growing by 34.67% on average per year.
  • INCY shows a strong growth in Revenue. In the last year, the Revenue has grown by 21.22%.
  • 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

  • INCY is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -8.29% yearly.
  • Based on estimates for the next years, INCY will show a decrease in Revenue. The Revenue will decrease by -0.83% on average per year.
EPS Next Y12.8%
EPS Next 2Y14.98%
EPS Next 3Y12.24%
EPS Next 5Y-8.29%
Revenue Next Year12.41%
Revenue Next 2Y11.44%
Revenue Next 3Y8.5%
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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Find the best growth stocksShow best growing peers

8

4. INCY Valuation Analysis

4.1 Price/Earnings Ratio

  • INCY is valuated correctly with a Price/Earnings ratio of 13.32.
  • 95.95% of the companies in the same industry are more expensive than INCY, based on the Price/Earnings ratio.
  • The average S&P500 Price/Earnings ratio is at 25.23. INCY is valued slightly cheaper when compared to this.
  • A Price/Forward Earnings ratio of 11.81 indicates a reasonable valuation of INCY.
  • Based on the Price/Forward Earnings ratio, INCY is valued cheaply inside the industry as 96.92% of the companies are valued more expensively.
  • INCY's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.42.
Industry RankSector Rank
PE 13.32
Fwd PE 11.81
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

  • 96.34% of the companies in the same industry are more expensive than INCY, based on the Enterprise Value to EBITDA ratio.
  • 96.92% 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 13.29
EV/EBITDA 9.78
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%

More info and screens

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

0

5. INCY Dividend Analysis

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

INCY Fundamentals: All Metrics, Ratios and Statistics

INCYTE CORP

NASDAQ:INCY (3/23/2026, 5:11:16 PM)

After market: 90.5515 +0.1 (+0.11%)

90.45

-0.33 (-0.36%)

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-11.27%
Market Cap18.00B
Revenue(TTM)5.14B
Net Income(TTM)1.29B
Analysts75.15
Price Target109.32 (20.86%)
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)2.74%
EPS NQ rev (3m)-14.71%
EPS NY rev (1m)-4.34%
EPS NY rev (3m)-4.96%
Revenue NQ rev (1m)-0.55%
Revenue NQ rev (3m)0.79%
Revenue NY rev (1m)-0.05%
Revenue NY rev (3m)1.44%
Valuation
Industry RankSector Rank
PE 13.32
Fwd PE 11.81
P/S 3.5
P/FCF 13.29
P/OCF 12.73
P/B 3.48
P/tB 3.66
EV/EBITDA 9.78
EPS(TTM)6.79
EY7.51%
EPS(NY)7.66
Fwd EY8.47%
FCF(TTM)6.81
FCFY7.53%
OCF(TTM)7.1
OCFY7.85%
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 8.08
F-Score7
WACC9.28%
ROIC/WACC2.1
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 2Y11.44%
Revenue Next 3Y8.5%
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 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 12.8% in the next year.