# Incyte Corp. (INCY) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Healthcare / Biotechnology. Price $126.75, market value $25.7 billion.

## Valuation
- **P/E (trailing): 16.1×** (5-yr avg 113.9×, 3-yr avg 166.5×). Incyte Corp. trades at 16.1× trailing earnings, well below its own five-year average of 113.9×: cheap by its own standards. The Healthcare median in the September 2026 study was 28.5×. Forward P/E is 14.3×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.00**. A PEG of 0.00 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 4.4×**. Each dollar of revenue is priced at 4.4×.
- **Price / book: 4.0×**. The shares trade at 4.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 21.6×**. Enterprise value is 21.6× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Earnings yield: 6.2%**. The inverse of the P/E: 6.2% of the price is earned each year.

## Profitability
- **Operating margin: 30.6%**. 30.6% of revenue is left after running the business, an exceptional level.
- **Net margin: 25.0%**. 25.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 24.9%**. 24.9% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 6.6%**. Return on all capital, debt included, is 6.6%.
- **Return on assets: 23.2%**. Each dollar of assets produces 23.2% of profit.

## Growth
- **Revenue growth (1 yr): 21.2%** (3-yr 14.8%/yr, 5-yr 14.0%/yr). Revenue grew 21.2% over the last year, against 14.0% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 4173.3%** (3-yr 61.6%/yr). Earnings per share rose 4173.3%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 3.70**. Debt is 3.70 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 8.3×**. It would take 8.3 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Current ratio: 3.32** (quick 3.32). Current assets cover the next year's liabilities 3.32 times.
- **Altman Z-score: 11.71**. A Z-score of 11.71 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend: none**. Incyte Corp. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: buy** (23 analysts). 23 analysts cover Incyte Corp.; the consensus is buy, with an average price target of $127.74 (+1% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 48.3%** (YTD 28.3%, 3-mo 23.8%). The shares are up 48.3% over twelve months including dividends.
- **From 52-week high: -4.4%** (56.3% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 56**. An RSI of 56 is neutral.
- **Beta (1 yr): 0.47** (volatility 33%). Beta of 0.47 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=INCY · Page: https://foliofundamentals.com/stocks/incy

Not investment advice.