GBAF Logo
Global Banking & Finance Awards® 2026 Nominations open, free to enter Nominate now →
I

Incyte INCY · USD

Health Care · Biotechnology · US listing · 🇺🇸 United States

S&P 500

Compare

121.89

+1.87%

Close of 9 Nov 2026, in USD

Search any instrument

Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in USD, from our data supplier.

FY2025

Revenue

$5.14bn

FY2016FY2025

Net income

$1.29bn

FY2016FY2025

Free cash flow

$1.35bn

FY2016FY2025

Shareholders' equity

$5.17bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue$5.14bn$4.24bn$3.70bn$3.39bn$2.99bn$2.67bn$2.16bn$1.88bn$1.54bn$1.11bn
Gross profit$4.77bn$3.93bn$3.44bn$3.19bn$2.84bn$2.54bn$2.04bn$1.79bn$1.46bn$1.05bn
Research and development$2.05bn$2.61bn$1.63bn$1.59bn$1.46bn$2.22bn$1.15bn$1.20bn$1.33bn$581.9m
Operating income$1.34bn$101.3m$655.4m$591.6m$585.8m−$263.7m$403.9m$129.2m−$243.4m$145.0m
Net income$1.29bn$32.6m$597.6m$340.7m$948.6m−$295.7m$446.9m$109.5m−$313.1m$104.2m
Diluted earnings per share6.280.172.641.524.27-1.342.040.51-1.480.53

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assets$6.96bn$5.44bn$6.78bn$5.84bn$4.93bn$3.56bn$3.43bn$2.65bn$2.30bn$1.64bn
Cash and short-term investments$3.58bn$2.16bn$3.66bn$3.24bn$2.35bn$1.80bn$2.12bn$1.44bn$1.17bn$808.5m
Total liabilities$1.80bn$2.00bn$1.59bn$1.47bn$1.16bn$949.6m$828.3m$719.8m$672.0m$1.22bn
Debt$34.7m$38.0m$32.6m$33.3m$34.3m$34.9m$50.9m$36.1m$24.0m$651.5m
Shareholders' equity$5.17bn$3.45bn$5.19bn$4.37bn$3.77bn$2.61bn$2.60bn$1.93bn$1.63bn$419.5m
Shares outstanding205m197m226m225m222m221m219m216m211m195m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operations$1.41bn$335.3m$496.5m$969.9m$749.5m−$124.6m$710.7m$336.2m−$93.0m$304.8m
Capital spending−$58.9m−$86.3m−$47.5m−$77.8m−$181.0m−$187.4m−$78.1m−$73.5m−$111.0m−$120.3m
Free cash flow$1.35bn$249.1m$449.0m$892.1m$568.5m−$312.0m$632.6m$262.7m−$204.0m$184.5m
Dividends paid———−$26.3m−$29.9m−$22.8m−$16.8m———

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
Revenue$1.67bn$1.27bn$1.51bn$1.37bn$1.22bn$1.05bn$1.18bn$1.14bn
Gross profit$1.57bn$1.17bn$1.39bn$1.27bn$1.14bn$979.7m$1.09bn$1.05bn
Operating income$697.9m$324.2m$384.0m$431.3m$310.8m$216.7m$297.4m$146.1m
Net income$585.6m$303.3m$299.3m$424.2m$405.0m$158.2m$201.2m$106.5m
Diluted earnings per share2.811.461.462.071.980.771.020.54
Cash from operations$507.0m$369.0m$543.0m$559.0m$44.0m$266.0m$381.0m$310.0m
Capital spending−$12.0m−$10.0m−$21.0m−$14.0m−$19.0m−$3.0m−$17.0m−$17.0m
Free cash flow$495.0m$359.0m$522.0m$545.0m$25.0m$263.0m$364.0m$293.0m
Total assets$7.87bn$7.34bn$6.96bn$6.33bn$5.82bn$5.75bn$5.44bn$5.01bn
Cash and short-term investments$4.54bn$4.02bn$3.58bn$2.93bn$2.42bn$2.41bn$2.16bn$1.77bn
Debt$9.8m$4.4m$10.2m$10.4m$10.6m$10.5m$43.5m$36.5m
Shareholders' equity$6.34bn$5.55bn$5.17bn$4.65bn$4.17bn$3.67bn$3.45bn$3.17bn

Financial ratios

Data as of 27 Sept 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin92.8%92.6%93.1%93.9%94.9%95.1%
Operating margin26.1%2.4%17.7%17.4%19.6%-9.9%
Net margin25.0%0.8%16.2%10.0%31.8%-11.1%
Return on equity24.9%0.9%11.5%7.8%25.2%-11.3%
Return on assets18.5%0.6%8.8%5.8%19.2%-8.3%
Free cash flow yield5.8%1.7%1.9%3.8%3.4%0.2%
Revenue growth21.2%14.8%8.9%13.7%12.0%23.5%
Earnings growth3845.0%-94.5%75.4%-64.1%-420.8%-166.2%
Current ratio3.32x1.97x3.75x3.54x3.65x3.74x
Debt to equity0.00x0.01x0.01x0.01x0.01x0.01x
Equity ratio74.3%63.3%76.5%74.8%76.4%73.3%
Interest coverage553.04x44.43x256.90x221.92x307.01x-121.29x
R&D as a share of sales39.9%61.5%44.0%46.7%48.8%83.1%
Buybacks as a share of market value-3.7%12.7%-0.6%-1.3%-0.3%-1.2%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue14.8%14.0%21.2%
Operating income31.4%—38.8%
Net income55.7%—69.6%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin92.7%93.0%93.5%93.9%
Operating margin15.4%16.3%13.6%11.8%
Net margin14.1%13.7%13.2%11.0%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings15.7418.123.853.017.2-65.142.7125.5-63.9187.8
Price to sales3.93.23.85.35.57.28.87.313.017.7

Market value over time

31 Oct 2016 to 25 Sept 2026, in USD

$16.87bn$25.80bn

Share price return

Finished calendar years

2025202420232022202120202019201820172016
Return44%9%-23%10%-16%-3%46%-34%-8%-1%

Dividends and splits

Per share, in the currency the company pays

Paid for 0 years.

  • 2-for-1 split · 1 Sept 2000
  • 2-for-1 split · 10 Nov 1997

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.