Exelixis, Inc. (EXEL) vs Incyte Corporation (INCY)

Exelixis, Inc. and Incyte Corporation are both Biotechnology companies. Incyte Corporation is the larger, with a market value of $23.0B against $15.6B — 1.5× the size. Incyte Corporation trades at the lower P/E: 13.9× against 18.8×. Incyte Corporation grew revenue faster over the last twelve months: 26.9% against 9.23%. Exelixis, Inc. has the higher net margin (35.3% vs 27.7%) and the lower return on invested capital (60.5% vs 60.5%). Across the 22 metrics below, Incyte Corporation leads on 13 and Exelixis, Inc. on 9.

Valuation

Metric EXEL INCY Biotechnology median
P/E 18.82 13.89 8.50
P/S 6.40 3.89 9.71
P/B 8.45 3.57 2.13
Price to free cash flow 13.45 11.97 20.82
EV/EBITDA 14.76 9.66 0.64
EV/Sales 6.06 3.12 9.21
Earnings yield 5.31% 7.20% (33.15%)
Free cash flow yield 7.43% 8.35% (25.50%)

Profitability

Metric EXEL INCY Biotechnology median
Gross margin 96.48% 92.62% 65.16%
Operating margin 39.88% 30.56% 0.00%
Net margin 35.33% 27.71% 0.00%
Free cash flow margin 47.55% 32.48% 0.00%
Return on equity 44.39% 30.67% (56.36%)
Return on assets 33.28% 23.55% (48.04%)
Return on invested capital 60.45% 60.50% 0.00%

Growth

Metric EXEL INCY Biotechnology median
Revenue growth (TTM) 9.23% 26.93% 6.02%
EPS growth (last fiscal year) 57.95% 4,173.33% 30.26%
Revenue growth, 5-year CAGR 18.63% 14.03% 9.41%
Net income growth, 5-year CAGR 47.58% 0.00% 0.00%

Health

Metric EXEL INCY Biotechnology median
Debt to equity 0.00 0.00 0.00
Current ratio 3.46 4.59 4.72
Net debt to EBITDA (1.18) (2.21) 0.96

Dividend

Metric EXEL INCY Biotechnology median
Dividend yield — — 0.09%
Payout ratio — — —

Size

Metric EXEL INCY Biotechnology median
Market cap 15.57b 22.96b 135.18m

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