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INCYTE CORP INCY

Nasdaq · stock · Services-Commercial Physical & Biological Research · website · IPO 1993-12-06 · LEI

INCYTE CORP statistics & valuation

P / E17.7×
P / S4.4×
P / B4.4×
Net margin25.0%
Return on capital27.8%
Graham number -49.5%$60.94

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($60.94); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
9.40% -20.40% 5.80% 20.70% -11.10% 31.80% 10.00% 16.20% 0.80% 25.00% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
13.10% -15.80% 6.90% 18.60% -9.90% 19.60% 17.10% 16.80% 1.40% 29.50% 2016201720182019202020212022202320242025
Return on equity (%)
24.80% -19.20% 5.70% 17.20% -11.30% 25.20% 7.80% 11.50% 0.90% 24.90% 2016201720182019202020212022202320242025
Shares outstanding
194.1M 211.3M 215.6M 217.7M 219.5M 222.1M 224.0M 225.9M 210.5M 200.7M 2016201720182019202020212022202320242025
Net debt ($)
$97.5M -$872.7M $17.93B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
6.40% -13.60% 4.10% 13.00% -8.30% 19.20% 5.80% 8.80% 0.60% 18.50% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
1.79× 0.02× 9.91× 2016201720182019202020212022202320242025
EPS ($)
$0.54 -$1.53 $0.51 $2.05 -$1.36 $4.27 $1.52 $2.65 $0.15 $6.41 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

INCYTE CORP trades at about 18.8× earnings — below its 10-year norm (10-year range 15.6×–2352×, median 56×).

15.6× 2352×

Shaded band = 10-year range (15.6×–2352×); dot = today's 18.8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin29.5%1.4%16.8%17.1%19.6%-9.9%18.6%6.9%-15.8%13.1%
Net margin25.0%0.8%16.2%10.0%31.8%-11.1%20.7%5.8%-20.4%9.4%
Return on assets18.5%0.6%8.8%5.8%19.2%-8.3%13.0%4.1%-13.6%6.4%
Return on equity24.9%0.9%11.5%7.8%25.2%-11.3%17.2%5.7%-19.2%24.8%
Debt / equity9.91×0.02×1.79×
Current ratio3.321.973.753.543.653.744.834.314.013.64

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.