Incyte Corporation (INCY) vs Roivant Sciences Ltd. (ROIV)

Incyte Corporation and Roivant Sciences Ltd. are both Biotechnology companies. Incyte Corporation and Roivant Sciences Ltd. are of similar size ($25.6B and $25.5B). Roivant Sciences Ltd. has negative trailing earnings, so its P/E is not meaningful; Incyte Corporation trades at 15.2×. Incyte Corporation grew revenue faster over the last twelve months: 26.9% against −67.6%. Incyte Corporation has the higher net margin (27.7% vs −3,535.0%) and the higher return on invested capital (60.5% vs −34.5%). Across the 18 metrics below, Incyte Corporation leads on 16 and Roivant Sciences Ltd. on 2.

Valuation

Metric INCY ROIV Biotechnology median
P/E 15.24 n/m 7.88
P/S 4.27 3,425.89 11.47
P/B 3.91 5.24 2.52
Price to free cash flow 13.13 n/m 21.16
EV/EBITDA 10.83 n/m 0.74
EV/Sales 3.49 2,958.77 10.73
Earnings yield 6.56% (1.06%) (28.84%)
Free cash flow yield 7.62% (3.18%) (23.03%)

Profitability

Metric INCY ROIV Biotechnology median
Gross margin 92.62% 81.21% 65.16%
Operating margin 30.56% (7,914.75%) 0.00%
Net margin 27.71% (3,534.96%) 0.00%
Free cash flow margin 32.48% (10,901.00%) 0.00%
Return on equity 30.67% (5.47%) (57.72%)
Return on assets 23.55% (5.15%) (49.22%)
Return on invested capital 60.50% (34.51%) 0.00%

Growth

Metric INCY ROIV Biotechnology median
Revenue growth (TTM) 26.93% (67.58%) 5.64%
EPS growth (last fiscal year) 4,173.33% (125.00%) —
Revenue growth, 5-year CAGR 14.03% (19.07%) 8.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric INCY ROIV Biotechnology median
Debt to equity 0.00 0.00 0.00
Current ratio 4.59 16.72 4.73
Net debt to EBITDA (2.21) 8.39 0.96

Dividend

Metric INCY ROIV Biotechnology median
Dividend yield — — 2.10%
Payout ratio 0.00 0.00 0.00

Size

Metric INCY ROIV Biotechnology median
Market cap 25.48b 25.64b 162.10m

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