INCY Stock Analysis: Incyte | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 25.763m USD | 12M Return: 59.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 207M
EPS Trend: 58.6%
Qual. Beats: 1
Rev. Trend: 98.9%
Qual. Beats: 8
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Incyte Corporation (NASDAQ: INCY) is a US-based biopharmaceutical company founded in 1991 and headquartered in Wilmington, Delaware. Originally named Incyte Genomics Inc., the company rebranded in March 2003 and is classified within the Health Care sector, Biotechnology sub-industry. It is a large-cap stock with a market capitalization of approximately $19.6 billion, having gone public in November 1993. The company focuses on the discovery, development, and commercialization of therapeutics, operating in the United States, Europe, Canada, and Japan.
The companys commercial portfolio spans oncology, hematology, and inflammatory diseases, anchored by JAKAFI (ruxolitinib), which is approved for myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease. Other 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 cholangiocarcinoma, and ZYNYZ for Merkel cell carcinoma. Incyte sells its products through specialty and retail pharmacies, hospital pharmacies, and distributors-a common distribution model in the biotechnology sector for therapies that often require specialized handling, administration, or patient support.
The clinical-stage pipeline includes candidates for ovarian cancer, solid tumors, atopic dermatitis, hidradenitis suppurativa, vitiligo, asthma, and rare conditions such as fibrodysplasia ossificans progressiva. The company has collaboration and license agreements with Novartis, Lilly, and Syndax, reflecting a common biotech strategy of partnering to share development risk, fund late-stage trials, and extend commercial reach into additional geographies or therapeutic areas.
- Jakafi faces Reblozyl competition in myelofibrosis market
- Opzelura cream drives dermatology growth with vitiligo uptake
- Pipeline catalysts needed to offset approaching Jakafi patent cliff
| Net Income: 1.61b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.24 > 0.02 and ΔFCF/TA 8.15 > 1.0 |
| NWC/Revenue: 82.59% < 20% (prev 51.58%; Δ 31.01% < -1%) |
| CFO/TA 0.25 > 3% & CFO 1.98b > Net Income 1.61b |
| Net Debt (-4.46b) to EBITDA (1.94b): -2.31 < 3 |
| Current Ratio: 4.66 > 1.5 & < 3 |
| Outstanding Shares: last quarter (208.2m) vs 12m ago 4.77% < -2% |
| Gross Margin: 92.62% > 18% (prev 92.88%; Δ -0.26% > 0.5%) |
| Asset Turnover: 84.99% > 50% (prev 78.76%; Δ 6.23% > 0%) |
| Interest Coverage Ratio: 790.6 > 6 (EBIT TTM 1.84b / Interest Expense TTM 2.32m) |
| A: 0.61 (Total Current Assets 6.12b - Total Current Liabilities 1.31b) / Total Assets 7.87b |
| B: 0.14 (Retained Earnings 1.10b / Total Assets 7.87b) |
| C: 0.27 (EBIT TTM 1.84b / Avg Total Assets 6.85b) |
| D: 4.15 (Book Value of Equity 6.34b / Total Liabilities 1.53b) |
| Altman-Z'' = 10.62 = AAA |
| DSRI: 1.05 (Receivables 1.13b/842.9m, Revenue 5.82b/4.58b) |
| GMI: 1.00 (GM 92.88% / 92.62%) |
| AQI: 0.56 (AQ_t 0.13 / AQ_t-1 0.23) |
| SGI: 1.27 (Revenue 5.82b / 4.58b) |
| TATA: -0.05 (NI 1.61b - CFO 1.98b) / TA 7.87b) |
| Beneish M = -3.05 (Cap -4..+1) = AA |
As of August 01, 2026, the stock is trading at USD 119.52 with a total of 1,823,317 shares traded. Over the past week, the price has changed by +1.57%, over one month by +5.43%, over three months by +25.45% and over the past year by +59.59%.
Current recommended Stop Loss: 114.20 (which is 4.5% or 1.2 ATR below the current price).
Incyte has received a consensus analysts rating of 3.67. Therefore, it is recommended to hold INCY.
- StrongBuy: 8
- Buy: 3
- Hold: 15
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 115.5 | -3.4% |
P/E Trailing = 18.3671
P/E Forward = 16.6667
P/S = 4.427
P/B = 4.6147
P/EG = 13.3381
Revenue TTM = 5.82b USD
EBIT TTM = 1.84b USD
EBITDA TTM = 1.94b USD
Long Term Debt = 24.2m USD (estimated: total debt 32.7m - short term 8.52m)
Short Term Debt = 8.52m USD (from shortTermDebt, last quarter)
Debt = 70.9m USD (from shortLongTermDebtTotal, last quarter) + Leases 38.3m
Net Debt = -4.46b USD (calculated: Debt 70.9m - CCE 4.54b)
Enterprise Value = 21.3b USD (25.8b + Debt 70.9m - CCE 4.54b)
Interest Coverage Ratio = 790.6 (Ebit TTM 1.84b / Interest Expense TTM 2.32m)
EV/FCF = 11.09x (Enterprise Value 21.3b / FCF TTM 1.92b)
FCF Yield = 9.02% (FCF TTM 1.92b / Enterprise Value 21.3b)
FCF Margin = 33.00% (FCF TTM 1.92b / Revenue TTM 5.82b)
Net Margin = 27.71% (Net Income TTM 1.61b / Revenue TTM 5.82b)
Gross Margin = 92.62% ((Revenue TTM 5.82b - Cost of Revenue TTM 429.6m) / Revenue TTM)
Gross Margin QoQ = 93.73% (prev 91.79%)
Tobins Q-Ratio = 2.71 (Enterprise Value 21.3b / Total Assets 7.87b)
Interest Expense / Debt = 3.28% (Interest Expense 2.32m / Debt 70.9m)
Taxrate = 18.04% (355.0m / 1.97b)
NOPAT = 1.51b (EBIT 1.84b * (1 - 18.04%))
Current Ratio = 4.66 (Total Current Assets 6.12b / Total Current Liabilities 1.31b)
Debt / Equity = 0.01 (Debt 70.9m / totalStockholderEquity, last quarter 6.34b)
Debt / EBITDA = -2.31 (Net Debt -4.46b / EBITDA 1.94b)
Debt / FCF = -2.32 (Net Debt -4.46b / FCF TTM 1.92b)
Total Stockholder Equity = 5.43b (last 4 quarters mean from totalStockholderEquity)
RoA = 23.55% (Net Income 1.61b / Total Assets 7.87b)
RoE = 29.70% (Net Income TTM 1.61b / Total Stockholder Equity 5.43b)
RoCE = 33.69% (EBIT 1.84b / Capital Employed (Equity 5.43b + L.T.Debt 24.2m))
RoIC = 23.99% (NOPAT 1.51b / Invested Capital 6.28b)
WACC = 7.04% (E(25.8b)/V(25.8b) * Re(7.05%) + D(70.9m)/V(25.8b) * Rd(3.28%) * (1-Tc(0.18)))
Discount Rate = 7.05% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -35.15 | Cagr: -3.81%
[DCF] Terminal Value 77.97% ; FCFF base≈1.53b ; Y1≈1.75b ; Y5≈2.58b
[DCF] Fair Price = 213.7 (EV 38.9b - Net Debt -4.46b = Equity 43.3b / Shares 202.7m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 58.55 | EPS CAGR: 67.89% | SUE: 0.93 | # QB: 1
Revenue Correlation: 98.90 | Revenue CAGR: 18.74% | SUE: 4.0 | # QB: 8
EPS current Quarter (2026-09-30): EPS=-3.38 | Chg30d=-322.97% | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=3.16 | Chg30d=-59.12% | Revisions=+0% | GrowthEPS=-53.5% | GrowthRev=+13.6%
EPS next Year (2027-12-31): EPS=9.04 | Chg30d=-2.38% | Revisions=+0% | GrowthEPS=+186.3% | GrowthRev=+6.1%
[Analyst] Revisions Ratio: +0% (up=2, down=2)