(INCY) Incyte - Overview
Stock: JAKAFI, MONJUVI, PEMAZYRE, ICLUSIG, OPZELURA
| Risk 5d forecast | |
|---|---|
| Volatility | 38.3% |
| Relative Tail Risk | -10.5% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.11 |
| Alpha | 36.24 |
| Character TTM | |
|---|---|
| Beta | 0.604 |
| Beta Downside | 0.469 |
| Drawdowns 3y | |
|---|---|
| Max DD | 34.81% |
| CAGR/Max DD | 0.27 |
EPS (Earnings per Share)
Revenue
Description: INCY Incyte January 04, 2026
Incyte Corporation (NASDAQ: INCY) is a U.S.-based biopharmaceutical firm that discovers, develops, and commercializes specialty therapeutics across the United States, Europe, Canada, and Japan. Its marketed portfolio includes JAKAFI (ruxolitinib) for myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI/MINJUVI (tafasitamab) for relapsed/refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib) for biliary-tract cancers and cholangiocarcinoma; ICLUSIG (ponatinib) for chronic myeloid leukemia and Ph+ ALL; ZYNYZ (retifanlimab) for Merkel cell carcinoma; NIKTIMVO (axatilimab) for chronic GVHD; and OPZELURA (ruxolitinib) cream for atopic dermatitis.
Incyte’s clinical pipeline spans multiple modalities, such as INCB123667 (CDK2 inhibitor) for ovarian cancer, INCB161734 (KRAS G12D inhibitor) targeting KRAS-mutant solid tumors, and INCA33890 (TGF-βR2×PD-1 bispecific) for solid-tumor immunotherapy. Early-stage assets include topical ruxolitinib for hidradenitis suppurativa, Povorcitinib for several inflammatory skin disorders, and anti-CD122 for vitiligo, reflecting a strategic focus on immune-mediated diseases. The company also partners with Genesis Therapeutics to accelerate next-generation drug discovery.
Financially, Incyte generated $2.5 billion in total revenue for FY 2023, with JAKAFI and ICLUSIG accounting for roughly 55 % of sales; R&D spend remained steady at $820 million, underscoring its commitment to pipeline expansion. The global JAK-inhibitor market is projected to grow at an 8 % CAGR through 2028, providing a favorable backdrop for its ruxolitinib franchise, while the broader biotech sector benefits from robust cash-flow generation and high-margin specialty drug pricing. For a deeper dive into INCY’s valuation and risk profile, consider reviewing the detailed analysis on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 7.5
| Net Income: 1.29b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.19 > 0.02 and ΔFCF/TA 15.15 > 1.0 |
| NWC/Revenue: 68.25% < 20% (prev 37.66%; Δ 30.59% < -1%) |
| CFO/TA 0.20 > 3% & CFO 1.41b > Net Income 1.29b |
| Net Debt (-3.03b) to EBITDA (1.76b): -1.72 < 3 |
| Current Ratio: 3.32 > 1.5 & < 3 |
| Outstanding Shares: last quarter (204.8m) vs 12m ago 3.72% < -2% |
| Gross Margin: 91.80% > 18% (prev 0.91%; Δ 9089 % > 0.5%) |
| Asset Turnover: 82.91% > 50% (prev 77.90%; Δ 5.01% > 0%) |
| Interest Coverage Ratio: 686.5 > 6 (EBITDA TTM 1.76b / Interest Expense TTM 2.43m) |
Altman Z'' 5.35
| A: 0.50 (Total Current Assets 5.02b - Total Current Liabilities 1.52b) / Total Assets 6.96b |
| B: 0.03 (Retained Earnings 213.8m / Total Assets 6.96b) |
| C: 0.27 (EBIT TTM 1.67b / Avg Total Assets 6.20b) |
| D: 0.13 (Book Value of Equity 239.4m / Total Liabilities 1.80b) |
| Altman-Z'' Score: 5.35 = AAA |
Beneish M -3.11
| DSRI: 0.99 (Receivables 1.02b/853.2m, Revenue 5.14b/4.24b) |
| GMI: 0.99 (GM 91.80% / 91.09%) |
| AQI: 0.65 (AQ_t 0.17 / AQ_t-1 0.26) |
| SGI: 1.21 (Revenue 5.14b / 4.24b) |
| TATA: -0.02 (NI 1.29b - CFO 1.41b) / TA 6.96b) |
| Beneish M-Score: -3.11 (Cap -4..+1) = AA |
What is the price of INCY shares?
Over the past week, the price has changed by +4.20%, over one month by +0.36%, over three months by -0.87% and over the past year by +44.51%.
Is INCY a buy, sell or hold?
- StrongBuy: 8
- Buy: 3
- Hold: 15
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the INCY price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 107.1 | 3.9% |
| Analysts Target Price | 107.1 | 3.9% |
INCY Fundamental Data Overview February 19, 2026
P/E Forward = 13.0719
P/S = 3.9158
P/B = 3.8937
P/EG = 0.1347
Revenue TTM = 5.14b USD
EBIT TTM = 1.67b USD
EBITDA TTM = 1.76b USD
Long Term Debt = 40.4m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 10.2m USD (from shortTermDebt, last quarter)
Debt = 69.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -3.03b USD (from netDebt column, last quarter)
Enterprise Value = 16.62b USD (20.13b + Debt 69.4m - CCE 3.58b)
Interest Coverage Ratio = 686.5 (Ebit TTM 1.67b / Interest Expense TTM 2.43m)
EV/FCF = 12.27x (Enterprise Value 16.62b / FCF TTM 1.35b)
FCF Yield = 8.15% (FCF TTM 1.35b / Enterprise Value 16.62b)
FCF Margin = 26.35% (FCF TTM 1.35b / Revenue TTM 5.14b)
Net Margin = 25.03% (Net Income TTM 1.29b / Revenue TTM 5.14b)
Gross Margin = 91.80% ((Revenue TTM 5.14b - Cost of Revenue TTM 421.6m) / Revenue TTM)
Gross Margin QoQ = 90.88% (prev 92.75%)
Tobins Q-Ratio = 2.39 (Enterprise Value 16.62b / Total Assets 6.96b)
Interest Expense / Debt = 0.84% (Interest Expense 582.0k / Debt 69.4m)
Taxrate = 23.25% (90.7m / 389.9m)
NOPAT = 1.28b (EBIT 1.67b * (1 - 23.25%))
Current Ratio = 3.32 (Total Current Assets 5.02b / Total Current Liabilities 1.52b)
Debt / Equity = 0.01 (Debt 69.4m / totalStockholderEquity, last quarter 5.17b)
Debt / EBITDA = -1.72 (Net Debt -3.03b / EBITDA 1.76b)
Debt / FCF = -2.24 (Net Debt -3.03b / FCF TTM 1.35b)
Total Stockholder Equity = 4.41b (last 4 quarters mean from totalStockholderEquity)
RoA = 20.75% (Net Income 1.29b / Total Assets 6.96b)
RoE = 29.15% (Net Income TTM 1.29b / Total Stockholder Equity 4.41b)
RoCE = 37.42% (EBIT 1.67b / Capital Employed (Equity 4.41b + L.T.Debt 40.4m))
RoIC = 28.98% (NOPAT 1.28b / Invested Capital 4.41b)
WACC = 8.11% (E(20.13b)/V(20.20b) * Re(8.14%) + D(69.4m)/V(20.20b) * Rd(0.84%) * (1-Tc(0.23)))
Discount Rate = 8.14% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -4.84%
[DCF Debug] Terminal Value 71.49% ; FCFF base≈906.8m ; Y1≈644.6m ; Y5≈344.8m
Fair Price DCF = 47.60 (EV 6.44b - Net Debt -3.03b = Equity 9.47b / Shares 199.0m; r=8.11% [WACC]; 5y FCF grow -33.99% → 2.90% )
EPS Correlation: 28.31 | EPS CAGR: 37.19% | SUE: -0.45 | # QB: 0
Revenue Correlation: 90.88 | Revenue CAGR: 21.18% | SUE: 3.48 | # QB: 6
EPS next Quarter (2026-03-31): EPS=1.39 | Chg30d=-0.269 | Revisions Net=-6 | Analysts=14
EPS current Year (2026-12-31): EPS=7.42 | Chg30d=-0.544 | Revisions Net=-6 | Growth EPS=+9.2% | Growth Revenue=+9.0%
EPS next Year (2027-12-31): EPS=8.65 | Chg30d=-0.345 | Revisions Net=-2 | Growth EPS=+16.6% | Growth Revenue=+9.9%