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Incyte Corporation

INCYHealthcareNASDAQ

Biotechnology · Last scanned Jun 3, 2026

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Financials · Annual
Revenue
$5.14B
+21.2% YoY
Net Income
$1.29B
+3845.0% YoY
EBITDA
$1.76B
+331.2% YoY
Free Cash Flow
$558.9M

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About Incyte Corporation

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics in the United States, Europe, Canada, and Japan. With a market capitalization of $18.43B, it sits in large-cap territory. The company offers JAKAFI for the treatment of myelofibrosis (MF), polycythemia vera, and steroid-refractory acute graft-versus-host disease; ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; MONJUVI/ MINJUVI for the treatment of diffuse large B-cell lymphoma and Follicular Lymphoma; NIKTIMVO for the treatment of chronic graft-versus-host disease.

Key stats
Market Cap$18.43B
P/E (TTM)13.03
Fwd P/E10.17
EPS$7.08
Beta0.80
52W Change+36.8%
ROE30.8%
Analysis

Incyte Corporation holds $4.02B in cash against $39.4M in total debt, giving it a net cash position. This means the company could theoretically pay off all its debt and still have cash remaining. Free cash flow comes in at $558.9M, providing flexibility for reinvestment, buybacks, or dividends. Consistent free cash flow generation is often considered a sign of operational health. ROE of 30.8% points to exceptionally high capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. Return on assets of 13.9% further supports the picture of efficient asset utilization. Revenue has grown from $3.39B (2022) to $5.14B (2025), reflecting a 51% increase over the period.

The strong cash position relative to debt provides a financial cushion that reduces balance sheet risk. It is important to consider these factors alongside broader market conditions and individual financial goals when reviewing INCY.

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