INCY Stock Analysis: Incyte | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 24.389m USD | 12M Return: 13.1% | US45337C1027 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 211M
EPS Trend: 53.6%
Qual. Beats: 2
Rev. Trend: 99.3%
Qual. Beats: 9
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.9 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Incyte Corporation (NASDAQ: INCY) is a U.S.-based biopharmaceutical company founded in 1991 and headquartered in Wilmington, Delaware. Originally named Incyte Genomics Inc., the company rebranded in March 2003 and now operates in the United States, Europe, Canada, and Japan. It is classified within the biotechnology sub-industry of the Health Care sector and has a large-cap market capitalization.
Incytes commercial portfolio centers on JAKAFI (ruxolitinib), marketed for myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease. Additional marketed products include ICLUSIG for chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia, MONJUVI/MINJUVI for diffuse large B-cell lymphoma and follicular lymphoma, NIKTIMVO for chronic graft-versus-host disease, PEMAZYRE for biliary tract cancer and related malignancies, and ZYNYZ for metastatic or recurrent locally advanced Merkel cell carcinoma.
The companys clinical-stage assets target a range of conditions, including ovarian cancer, solid tumors, atopic dermatitis, hidradenitis suppurativa, vitiligo, asthma, and fibrodysplasia ossificans progressiva. Key development programs include ruxolitinib cream, povorcitinib, and multiple INCB/INCA compounds aimed at myeloproliferative neoplasms and other cancers. Incyte maintains collaboration and license agreements with Novartis, Lilly, and Syndax, and distributes its products through specialty and retail pharmacies, hospital pharmacies, and wholesalers.
Biopharmaceutical companies such as Incyte typically operate a high-risk, R&D-driven business model, generating revenue from a limited number of approved therapeutics while investing significantly in clinical-stage pipelines to sustain long-term growth. Specialty drug manufacturers often focus on rare or underserved diseases, where regulatory exclusivity and targeted treatment populations support premium pricing.
- Jakafi revenue pressured by myelofibrosis competition
- Opzelura cream growth drives dermatology segment expansion
- Povorcitinib phase 3 data in vitiligo and HS approaching
| Net Income: 403.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA -9.51 > 1.0 |
| NWC/Revenue: 67.94% < 20% (prev 61.07%; Δ 6.87% < -1%) |
| CFO/TA 0.10 > 3% & CFO 745.0m > Net Income 403.4m |
| Net Debt (-3.82b) to EBITDA (897.0m): -4.26 < 3 |
| Current Ratio: 3.84 > 1.5 & < 3 |
| Outstanding Shares: last quarter (203.2m) vs 12m ago 0.90% < -2% |
| Gross Margin: 92.69% > 18% (prev 92.95%; Δ -0.25% > 0.5%) |
| Asset Turnover: 88.28% > 50% (prev 76.03%; Δ 12.25% > 0%) |
| Interest Coverage Ratio: 341.7 > 6 (EBIT TTM 798.5m / Interest Expense TTM 2.34m) |
| A: 0.56 (Total Current Assets 5.52b - Total Current Liabilities 1.44b) / Total Assets 7.29b |
| B: 0.04 (Retained Earnings 317.9m / Total Assets 7.29b) |
| C: 0.12 (EBIT TTM 798.5m / Avg Total Assets 6.81b) |
| D: 3.43 (Book Value of Equity 5.64b / Total Liabilities 1.64b) |
| Altman-Z'' = 8.21 = AAA |
| DSRI: 1.11 (Receivables 1.24b/895.9m, Revenue 6.01b/4.81b) |
| GMI: 1.00 (GM 92.95% / 92.69%) |
| AQI: 0.74 (AQ_t 0.14 / AQ_t-1 0.19) |
| SGI: 1.25 (Revenue 6.01b / 4.81b) |
| TATA: -0.05 (NI 403.4m - CFO 745.0m) / TA 7.29b) |
| Beneish M = -2.92 (Cap -4..+1) = A |
As of November 12, 2026, the stock is trading at USD 122.27 with a total of 1,187,350 shares traded. Over the past week, the price has changed by -0.47%, over one month by +9.80%, over three months by +0.99% and over the past year by +13.05%.
Current recommended Stop Loss: 114.40 (which is 6.4% or 2 ATR below the current price).
Incyte has received a consensus analysts rating of 3.79. Therefore, it is recommended to hold INCY.
- StrongBuy: 11
- Buy: 2
- Hold: 14
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 131.5 | 7.5% |
P/E Trailing = 61.0459
P/E Forward = 13.4228
P/S = 4.0575
P/B = 4.3227
P/EG = 10.8221
Revenue TTM = 6.01b USD
EBIT TTM = 798.5m USD
EBITDA TTM = 897.0m USD
Long Term Debt = 27.6m USD (estimated: total debt 37.4m - short term 9.78m)
Short Term Debt = 9.78m USD (from shortTermDebt, last quarter)
Debt = 37.4m USD (from shortLongTermDebtTotal, last quarter) (leases 37.4m already included)
Net Debt = -3.82b USD (calculated: Debt 37.4m - CCE 3.85b)
Enterprise Value = 20.6b USD (24.4b + Debt 37.4m - CCE 3.85b)
Interest Coverage Ratio = 341.7 (Ebit TTM 798.5m / Interest Expense TTM 2.34m)
EV/FCF = 30.04x (Enterprise Value 20.6b / FCF TTM 684.9m)
FCF Yield = 3.33% (FCF TTM 684.9m / Enterprise Value 20.6b)
FCF Margin = 11.39% (FCF TTM 684.9m / Revenue TTM 6.01b)
Net Margin = 6.71% (Net Income TTM 403.4m / Revenue TTM 6.01b)
Gross Margin = 92.69% ((Revenue TTM 6.01b - Cost of Revenue TTM 439.3m) / Revenue TTM)
Gross Margin QoQ = 93.02% (prev 93.73%)
Tobins Q-Ratio = 2.82 (Enterprise Value 20.6b / Total Assets 7.29b)
Interest Expense / Debt = 6.25% (Interest Expense 2.34m / Debt 37.4m)
Taxrate = 49.33% (392.8m / 796.2m)
NOPAT = 404.6m (EBIT 798.5m * (1 - 49.33%))
Current Ratio = 3.84 (Total Current Assets 5.52b / Total Current Liabilities 1.44b)
Debt / Equity = 0.01 (Debt 37.4m / totalStockholderEquity, last quarter 5.64b)
Debt / EBITDA = -4.26 (Net Debt -3.82b / EBITDA 897.0m)
Debt / FCF = -5.57 (Net Debt -3.82b / FCF TTM 684.9m)
Total Stockholder Equity = 5.68b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.92% (Net Income 403.4m / Total Assets 7.29b)
RoE = 7.11% (Net Income TTM 403.4m / Total Stockholder Equity 5.68b)
RoCE = 14.00% (EBIT 798.5m / Capital Employed (Equity 5.68b + L.T.Debt 27.6m))
RoIC = 7.28% (NOPAT 404.6m / Invested Capital 5.56b)
WACC = 6.06% (E(24.4b)/V(24.4b) * Re(6.06%) + D(37.4m)/V(24.4b) * Rd(6.25%) * (1-Tc(0.49)))
Discount Rate = 6.06% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 5.97 | Cagr: -3.10%
[DCF] Terminal Value 73.10% ; FCFF base≈889.7m ; Y1≈780.2m ; Y5≈630.4m
[DCF] Fair Price = 68.37 (EV 10.1b - Net Debt -3.82b = Equity 13.9b / Shares 203.8m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 53.60 | EPS CAGR: 60.91% | SUE: 1.16 | # QB: 2
Revenue Correlation: 99.31 | Revenue CAGR: 20.19% | SUE: 1.76 | # QB: 9
EPS current Quarter (2027-03-31): EPS=1.72 | Chg30d=-1.06% | Revisions=-50% | Analysts=7
EPS current Year (2026-12-31): EPS=3.46 | Chg30d=+4.39% | Revisions=+25% | GrowthEPS=-49.1% | GrowthRev=+17.7%
EPS next Year (2027-12-31): EPS=8.64 | Chg30d=-0.69% | Revisions=-24% | GrowthEPS=+149.7% | GrowthRev=+4.2%
[Analyst] Revisions Ratio: -14% (up=11, down=15)