Incyte

Health Care Biotechnology Wilmington, Delaware Last filing Feb 10, 2026 · FY2025

                    Revenue
                    FY2025
                
$5.1B
                    3y CAGR +14.8%
                    
                    P90
                    
                    n/a
                    
                    Net income
                    FY2025
                
$1.3B
                    Net margin +25.0%
                    
                    P85
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$7.0B
                    ROA +18.5%
                    
                    P97
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$1.4B
                    
                    n/a

17 yrs · FY2009–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

28 accounts · 1 year

Total assets $7.0B

Total liabilities $1.8B

Shareholders equity $5.2B

Account	2025	Trend
Assets
Cash and Cash Equivalents	$3.1B
Accounts Receivable	$1.0B
Inventory	$101.1M
Prepaid Expenses	$317.8M
Other Current Assets	$18.2M
Total Current Assets	$5.0B
Property,Plant and Equipment	$730.9M
Operating Lease Assets	$27.5M
Goodwill	$133.0M
Intangible Assets	$0
Deferred Tax Assets	$515.3M
Other Noncurrent Assets	$18.2M
Total Assets	$7.0B
Liabilities
Accounts Payable	$209.9M
Accrued Liabilities	$1.0B
Operating Lease Liabilities	$5.7M
Other Current Liabilities	$90.7M
Total Current Liabilities	$1.5B
Operating Lease Liabilities Noncurrent	$30.2M
Other Noncurrent Liabilities	$165.3M
Total Liabilities	$1.8B
Equity
Preferred Stock	$0
Common Stock	$198.0K
Additional Paid In Capital	$4.9B
Retained Earnings	$213.8M
Accumulated Other Comprehensive Income	$25.5M
Total Stockholders Equity	$5.2B
Total Liabilitiesand Equity	$7.0B

Income Statement

Revenue, expense, and profitability

19 accounts · 1 year

Revenue $5.1B

Operating income $1.5B

Net income $1.3B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	$5.1B
Expenses Cost of Revenue	$372.1M
Expenses Research and Development	$2.1B
Expenses Selling,General and Administrative	$1.4B
Expenses Depreciation and Amortization	$93.3M
Expenses Share Based Compensation	$249.3M
Expenses Operating Expenses	$3.6B
Other Income Expense Operating Income	$1.5B
Other Income Expense Interest Income	$105.6M
Other Income Expense Interest Expense	$2.4M
Other Income Expense Other Income/expense	$25.1M
Other Income Expense Income Before Tax	$1.7B
Income Tax Income Tax Expense	$377.8M
net Income net Income	$1.3B
net Income Comprehensive Income	$1.3B
Earnings Per Share Basic Eps	$7
Earnings Per Share Diluted Eps	$6
Earnings Per Share Weighted Average Shares Basic	$195.2M
Earnings Per Share Weighted Average Shares Diluted	$200.7M

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 1 year

Operating cash flow $1.4B

Investing cash flow $-102.6M

Financing cash flow $101.0M

Account	2025	Trend
CashFlow
Operating Activities net Income	$1.3B
Operating Activities Depreciation and Amortization	$93.3M
Operating Activities Stock Based Compensation	$249.3M
Operating Activities Deferred Income Taxes	$247.7M
Operating Activities Changes In Operating Assets and Liabilities	$243.9M
Operating Activities net Cash From Operating Activities	$1.4B
Investing Activities Purchases of Investments	$295.5M
Investing Activities Proceeds From Sale of Investments	$284.6M
Investing Activities net Cash From Investing Activities	$-102.6M
Financing Activities Repurchase of Common Stock	$0
Financing Activities Proceeds From Stock Issuance	$221.8M
Financing Activities Tax Withholding On Stock Based Compensation	$76.8M
Financing Activities net Cash From Financing Activities	$101.0M
Cash Reconciliation Effect of Exchange Rate On Cash	$-1.7M
Cash Reconciliation net Change In Cash	$1.4B
Cash Reconciliation Cash At Beginning of Period	$3.1B
Cash Reconciliation Cash At End of Period	$3.1B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+92.8%
Operating margin	+29.5%
Net margin	+25.0%
FCF margin	—
Growth
Revenue CAGR (3y)	+14.8%
Returns
ROE	+24.9%
ROA	+18.5%
ROIC	—
Liquidity
Current ratio	3.32x
Quick ratio	2.72x
Leverage
D/E	0.35x
Interest coverage	623.91x
Efficiency
Asset turnover	0.74x
Cash conversion cycle	-34d

Valuation

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FY2025 fundamentals · no price

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