Incyte Corporation

INCY

Healthcare Biotechnology

Incyte Corporation’s revenue for fiscal 2025 (year ended December 2025) was $5.1 billion, up 21.2% from fiscal 2024.

Revenue
+14.0%
EPS
−277.9%
Free cash flow
−233.0%
Total debt
−10.5%

Quarter to September 2026, against a year earlier

121.89 0.38 −0.31%
Market cap
$24.9B
P/E
58.1×
Fwd P/E
57.3×
Dividend yield
—
F-score
9/9
ROIC
21.6%
Net debt / EBITDA
−2.2×
Dividend safety
n/a

Incyte Corporation (INCY) Gross margin

Alert me on Gross margin

Incyte Corporation's gross margin over the twelve months to 30 September 2026 was 92.7%, down 0.1 percentage points from fiscal 2025 (92.8%). Over the past ten years it has ranged from 92.6% (fiscal 2024) to 96.4% (fiscal 2015); the current reading is higher than 18% of that period. That is above the Biotechnology industry median of 68.3% and above the Healthcare sector median of 54.8%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2025 92.8% 0.12
FY2024 92.6% (0.46)
FY2023 93.1% (0.80)
FY2022 93.9% (1.04)
FY2021 94.9% (0.14)
FY2020 95.1% 0.37
FY2019 94.7% (0.29)
FY2018 95.0% 0.17
FY2017 94.8% 0.09
FY2016 94.7% (1.68)

Quarterly newest first

Period Gross margin Change (points)
Sep 2026 93.0% (0.71)
Jun 2026 93.7% 1.94
Mar 2026 91.8% (0.17)
Dec 2025 92.0% (0.79)
43 more quarters

Against its own ten years

Low 92.6% High 96.4%
Ten-year median 94.7%
Current reading's percentile 12

Gross margin against peers

Company Gross margin
EXEL Exelixis, Inc. compare 96.3%
INCY Incyte Corporation 92.7%
GMAB Genmab A/S Sponsored ADR compare 92.6%
ASND Ascendis Pharma A/S compare 91.3%
JAZZ Jazz Pharmaceuticals PLC compare 89.1%
ROIV Roivant Sciences Ltd. compare 88.7%
INSM Insmed, Inc. compare 84.4%
ALNY Alnylam Pharmaceuticals, Inc. compare 77.3%
BNTX BioNTech SE Sponsored ADR compare 74.6%
Biotechnology industry median 68.3%
Healthcare sector median 54.8%
Market median 46.9%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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