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Incyte Corporation

Incyte Corporation

NASDAQ•INCY
CEO: Mr. Herve Hoppenot
Sector: Healthcare
Industry: Biotechnology
Listing Date: 1993-11-04
Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis. Its clinical stage products include retifanlimab under Phase 3 clinical trials for squamous cell carcinoma of the anal canal and non-small cell lung cancer; axatilimab, an anti-CSF-1R monoclonal antibody under Phase 2 that is being developed as a therapy for patients with chronic GVHD; INCA033989 to inhibit oncogenesis; INCB160058, which is being developed as a disease-modifying therapeutic; and INCB99280 and INCB99318 for the treatment solid tumors. The company also develops INCB123667, INCA32459, and INCA33890, as well as Ruxolitinib cream, Povorcitinib, and INCA034460. It has collaboration out-license agreements with Novartis and Lilly; in-license agreements with Agenus, Merus, MacroGenics, and Syndax; and collaboration and license agreement with China Medical System Holdings Limited for the development and commercialization of povorcitinib. The company sells its products to specialty, retail, and hospital pharmacies, distributors, and wholesalers. The company was formerly known as Incyte Genomics Inc and changed its name to Incyte Corporation in March 2003. Incyte Corporation was incorporated in 1991 and is headquartered in Wilmington, Delaware.
Contact Information
1801 Augustine Cut-Off, Wilmington, DE, 19803, United States
302-498-6700
www.incyte.com
Market Cap
$18.86B
P/E (TTM)
15.8
41.7
Dividend Yield
--
52W High
$109.28
52W Low
$53.56
52W Range
76%
Rank42Top 35.8%
4.3
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$1.37B+20.05%
4-Quarter Trend

EPS

$2.17+294.55%
4-Quarter Trend

FCF

$544.64M+85.77%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Strong Nine-Month Net Income Net income reached $987.4M USD for nine months 2025, reversing prior $168.6M loss. This includes $242.2M contract dispute gain.
Product Revenue Growth Accelerates Total revenues grew to $3.63B USD for nine months 2025, up 18.7% from $3.06B USD in 2024. JAKAFI and OPZELURA drive sales.
OPZELURA Sales Surge OPZELURA net product revenues increased 35.9% to $471.2M USD for nine months 2025, reflecting strong US patient demand.
Operating Cash Flow Positive Net cash provided by operating activities was $870.2M USD for nine months 2025, a major improvement from $45.9M USD used in 2024.

Risk Factors

Heavy JAKAFI Revenue Dependence Business materially harmed if JAKAFI revenues decrease; sales contribute a significant percentage of total revenues over several years.
OPZELURA Medicaid Rebate Risk Accrued $188.9M USD for potential incremental Medicaid rebates if OPZELURA is deemed JAKAFI line extension. Impact on gross-to-net is 6.8%.
Clinical Trial Uncertainty Risks Drug development success relies on clinical trial results; delays or negative findings could halt programs or require additional testing.
Intellectual Property Litigation Exposure Ongoing patent challenges from generic competitors regarding JAKAFI and OPZELURA patents could reduce portfolio value.

Outlook

Ruxolitinib XR Submission Planned Bioequivalence study completed for Ruxolitinib XR; data anticipated submission to FDA by year-end 2025 to address CRL.
Advance Key Clinical Candidates Plan to initiate INCA033989 (mutCALR) registrational program in MSS CRC in 2026 based on positive Phase 1 data.
Prioritize Development Programs Development of Povorcitinib for CSU was paused to prioritize other programs, reflecting resource allocation strategy.
Future Funding Requirements Anticipate needing additional capital to fund business plan, research, and development efforts going forward.

Peer Comparison

Revenue (TTM)

Centene CorporationCNC
$185.86B
+14.9%
Fresenius Medical Care AGFMS
$21.68B
+2.1%
Tenet Healthcare CorporationTHC
$20.86B
-0.6%

Gross Margin (Latest Quarter)

Royalty Pharma plcRPRX
100.0%
+0.0pp
Exelixis, Inc.EXEL
96.9%
+0.1pp
Genmab A/SGMAB
94.3%
-0.7pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
UTHR$21.83B16.818.8%0.0%
GMAB$19.89B14.824.7%2.0%
CNC$19.89B-3.8-20.6%21.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
5.0%
Steady Growth
4Q Net Income CAGR
28.2%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 9, 2026
|
EPS:$1.96
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 28, 2025|
    Revenue: $1.37B+20.0%
    |
    EPS: $2.17+294.5%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 29, 2025|
    Revenue: $1.22B+16.5%
    |
    EPS: $2.09-202.5%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 29, 2025|
    Revenue: $1.05B+19.5%
    |
    EPS: $0.82+7.9%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 10, 2025|
    Revenue: $4.24B+14.8%
    |
    EPS: $0.16-94.0%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 29, 2024|
    Revenue: $1.14B+23.8%
    |
    EPS: $0.55-27.6%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 30, 2024|
    Revenue: $1.04B+9.3%
    |
    EPS: $-2.04-324.2%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 30, 2024|
    Revenue: $880.89M+8.9%
    |
    EPS: $0.76+681.1%
    Miss
  • Form 10-K/A - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 16, 2024|
    Revenue: $3.70B+8.9%
    |
    EPS: $2.67+74.5%
    Beat