INCY
Incyte
$120.45
▲ 1.7%Updated Aug 7, 11:30 AM ET
INCY at a glance — five pillars scored 0–100 from real filed financials.
Overall: Strong · 86/100. A wider, greener shape means more pillars look healthy. Dividends scores 0 when a company pays none — that is a choice, not a flaw.
▲ Up 43.9% over the last 12 months
Market Cap
$23.35B
P/E
16.84x
Forward P/E (est.)
12.03x
ROE
29.2%
Revenue Growth
21.5%
EPS Growth
2455.3%
Profit Margin
26.7%
FCF Yield
2.2%
Debt / Equity
0.01x
ROIC
5.0%
Interest Coverage
593.83x
Current Ratio
3.68x
Dividend Yield
—
Implied Growth (rev. DCF)
—
Rating Score
86/100
Incyte (INCY) is a large-cap company in the Biotechnology industry, part of the Health Care sector of the S&P 500, with a market value around $23.35B.
In its latest reported year it generated about $5.14B in revenue and $1.29B in net profit.
Our model rates INCY Strong (86/100) on growth, profitability, financial health, and valuation. The summary below is built from its filed financials and current ratios and refreshes automatically.
Evidence of durable competitive advantage in the filed financials (9 years of history).
The numbers don't show a durable competitive advantage — margins, growth, or returns on capital have been unstable or thin. Great returns are still possible; they just aren't protected.
15.9% average over the last 3 years
±14.1 pts around 9.3% across 9 years
grew in 8 of the last 8 year-over-year periods
positive in 7 of 9 years
5.0% latest fiscal year
A moat can't be proven by numbers alone — this scores the evidence a durable advantage leaves behind (pricing power, consistency, returns on capital), computed the same way for every stock. Pair it with the business overview before concluding anything.
Technical analysis reads price and volume to judge momentum and timing. It complements the fundamentals above — it does not replace them. Here is what INCY's chart says today, with each tool explained.
Trend — moving averages. A moving average is the average closing price over a window, which smooths out daily noise. INCY trades near $120.45, above its 50-day average ($100.70) and 200-day average ($97.93). Price above both averages, with the shorter one above the longer, is the textbook definition of an uptrend — momentum favours buyers.
Momentum — RSI. The Relative Strength Index runs 0–100 and measures how strong recent gains are versus losses. Above 70 is "overbought", below 30 "oversold". At 63 it is in neutral territory — neither stretched nor washed out.
MACD. MACD compares two moving averages to flag shifts in momentum. Its histogram is currently positive — short-term momentum is improving.
Volatility — ATR. Average True Range is the typical daily move. INCY's is $4.18 (~3.5% of price), so swings of about that size each day are normal — handy for setting a stop that isn't too tight.
Support & resistance. Over the last month INCY found buyers near $96.09 (support) and sellers near $118.69 (resistance); its 52-week range is $66.85–$118.69. A decisive break beyond either edge often marks the next move.
Volume. The latest session traded 1.2× the 20-day average — about normal. Rising volume on up-days suggests real buying; on down-days, real selling.
Educational information to help you read a chart — not a recommendation or a forecast. It updates daily as the price and indicators change.
4Y CAGR
14.5%
Revenue moved from $1.54B in 2017 to $5.14B in 2025, a 16.3% compound annual growth rate. The most recent year grew a strong 21.5% year over year. Consistent top-line growth is one sign of healthy demand.
Gross Margin
93.0%
Operating Margin
29.5%
Net Margin
25.0%
ROE
29.2%
Incyte keeps about 26.7% of each sales dollar as net profit, with a 93.0% gross margin and 29.5% operating margin. Return on equity is 29.2% and return on invested capital about 5.0%. Margins this wide usually signal pricing power or a cost advantage.
Total Debt
$19.09B
Net Debt
$15.63B
Net Debt / EBITDA
10.32x
Debt / Equity
0.01x
Leverage: debt-to-equity is 0.0x, and operating profit covers interest about 593.8x, with a current ratio of 3.7x. That is a conservative balance sheet — a cushion in downturns. It carries roughly $19.09B of total debt against $3.46B of cash.
Operating CF
$1.41B
Free Cash Flow
$1.41B
FCF Margin
27.5%
In the latest year Incyte produced about $1.41B of operating cash flow and $1.41B of free cash flow after capital spending. That is a free-cash-flow yield of about 2.2% on today's price. Cash flow is what ultimately pays shareholders, so it is worth tracking over time.
P/E
16.84x
P/S
3.88x
P/B
4.53x
EV / EBITDA
—
INCY trades at 16.8x trailing earnings (about 12.0x on estimated forward earnings), 3.9x sales, and 4.5x book value. That is a fairly typical valuation for a profitable company.
Where INCY sits versus its Health Care sector peers in the S&P 500.
Bands show the middle half (25th–75th percentile) of the 83 Health Care companies in the S&P 500 — the peer-relative anchor professional comps analysis uses. Context only — not investment advice.
How INCY stacks up against its Health Care peers — valuation, profitability, and growth versus the sector median.
In the Health Care sector (324 S&P 500 companies), INCY ranks #2 of 324 by our overall rating. It trades at a discount versus the sector on earnings (16.8x P/E vs. 27.3x median) with a higher return on equity (29.2% vs. 14.1%) and faster revenue growth (21.5% vs. 7.6%).
P/E vs sector
16.8x
median 27.3x
ROE vs sector
29.2%
median 14.1%
Growth vs sector
21.5%
median 7.6%
Sector rank
#2
of 324 by rating
Valuation vs. quality map
The sweet spot is upper-left: more profitable (higher ROE) for a lower P/E. Dashed lines mark the sector median.
Peers are the closest Health Care companies by sub-industry and size. Sector median is across all 324 S&P 500 names in the sector. Educational, not a recommendation.
Project revenue → earnings → price. Edit the assumptions to build your own case.
2030 price target (Base Case)
$0.00 – $0.00
vs. $120.45 today · expected CAGR 7% – 19%
| Metric | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $6.22B | $7.53B | $9.11B | $11.02B | $13.34B |
| Net income | $1.56B | $1.88B | $2.28B | $2.76B | $3.33B |
| EPS | $8.02 | $9.71 | $11.75 | $14.21 | $17.20 |
| Share price (low) | $80.24 | $97.09 | $117.48 | $142.15 | $172.00 |
| Share price (high) | $136.40 | $165.05 | $199.71 | $241.65 | $292.39 |
| CAGR (low–high) | -33% / 13% | -10% / 17% | -1% / 18% | 4% / 19% | 7% / 19% |
Educational model on sample fundamentals — not a forecast or investment advice. Outputs are only as good as your assumptions.
The case for INCY:
- Revenue is growing 21.5% a year, a sign of real demand.
- High net margins (26.7%) point to pricing power or efficiency.
- Strong return on equity (29.2%) shows capital is put to work well.
- A conservative balance sheet (debt/equity 0.0x) lowers risk.
- Our model's overall read is Strong (86/100).
The case against INCY:
- Like any single stock, it is exposed to competition, the economic cycle, and shifts in its end markets.
Market risk — sector rotation, the economic cycle, and broad sentiment move the stock regardless of fundamentals.
On balance, the fundamentals screen favourably: Incyte is a large-cap health care business still growing nicely, with solid profitability, and a sound balance sheet. It trades at 16.8x earnings, which our model scores Strong (86/100). Weigh this against your own goals and time horizon — this is educational information, not a recommendation.
Analyst Ratings
What 33 Wall Street analysts covering INCY recommend (August 2026). Consensus is a useful sanity check — not a substitute for your own homework.
Analysts have turned more positive over the last three months (+3 pts of buy ratings).
Latest SEC Filings
INCY's most recent filings, straight from SEC EDGAR. Annual and quarterly reports are the deep dives; 8-Ks flag material events the moment they happen.
In the Idea Lab
INCY — frequently asked questions
Is INCY a good stock to buy?
We don't give buy or sell advice. Our model rates Incyte Strong (86/100) based on its growth, profitability, financial health, and valuation — use that as a research starting point and make your own decision.
What is INCY's rating on The Stocks School?
Incyte currently scores 86/100 (Strong) on our transparent model, which weighs real fundamentals: growth, margins, returns on capital, balance-sheet strength, and valuation.
How our ratings work →Where does INCY's data come from?
Live price data plus real fundamentals and 5-year financials pulled directly from Incyte's SEC filings — refreshed automatically, not hand-entered.
How is the 5-year projection for INCY calculated?
It's a scenario model: it grows revenue at an assumed rate, applies a profit margin and a valuation multiple, and shows the resulting share-price range. The assumptions are yours to change — it's a tool for thinking, not a prediction.
Is this INCY analysis financial advice?
No. Everything on this page is educational research, not financial advice or a recommendation to buy or sell INCY. Always do your own research and consider a licensed professional.
Data notice. Fundamentals and financial statements are sourced from company filings (SEC EDGAR) and market-data providers; prices and market caps refresh on trading days and may be delayed. Ratings, projections, technical signals, and written summaries are model- or rule-generated for education and may simplify or lag the latest filings.
Not advice. Nothing on this page is investment advice or a recommendation to buy, hold, or sell any security. Do your own research and consult a licensed financial professional before investing.