Incyte Corp

Research Incyte Corp (INCY) on Bullrun: valuation model: 7.1% undervalued, market cap USD 26.07B, P/E 16.5. Explore financials, valuation history, model signals, and stock context.

Key Metrics

TickerINCY
ExchangeNASDAQ
CountryUnited States
SectorHealthcare
IndustryBiotechnology
CurrencyUSD
Valuation signal7.1% undervalued
Market capUSD 26.07B
P/E16.5
Financial periodQ2 2026
RevenueUSD 1.67B
Net incomeUSD 585.61M
Free cash flowUSD 495.25M
Gross margin93.7%

Valuation Snapshot

Bullrun's latest valuation model marks Incyte Corp as 7.1% undervalued; latest market cap is USD 26.07B; P/E is 16.5.

Peer valuation comparison

Latest P/E is 16.53x versus a Healthcare sector median of 24.46x (32.4% below).

Latest P/E is 16.53x versus a United States median of 24.87x (33.5% below).

Five-year financial history

Year	Revenue	Net income	Free cash flow	Gross margin	Diluted EPS	Cash	Total debt	Equity
FY2025	USD 5.14B	USD 1.29B	USD 1.33B	92.8%	6.41	USD 3.10B	USD 40.41M	USD 5.17B
FY2024	USD 4.24B	USD 32.60M	USD 235.17M	92.6%	0.15	USD 1.69B	USD 43.54M	USD 3.45B
FY2023	USD 3.70B	USD 597.60M	n/a	93.1%	2.65	USD 3.21B	USD 38.29M	USD 5.19B
FY2022	USD 3.39B	USD 340.70M	USD 892.11M	93.9%	1.52	USD 2.95B	USD 34.19M	USD 4.37B

Valuation history

Year	Snapshot date	Market cap	P/E	Dividend yield	Annual dividend/share
2026	2026-08-25	USD 26.07B	16.5	n/a	n/a
2025	2025-12-31	USD 19.60B	15.4	n/a	n/a
2024	2024-12-31	USD 13.36B	255.8	n/a	n/a
2023	2023-12-29	USD 14.07B	33.4	n/a	n/a
2022	2022-12-30	USD 17.87B	20.4	n/a	n/a
2021	2021-12-31	USD 16.23B	17.2	n/a	n/a

About Incyte Corp

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics in the United States, Europe, Canada, and Japan. The company offers JAKAFI for the treatment of myelofibrosis (MF), polycythemia vera, and steroid-refractory acute graft-versus-host disease; ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia;

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Frequently asked questions

Is Incyte Corp overvalued or undervalued?

Bullrun's valuation model currently marks Incyte Corp as 7.1% undervalued.

What is Incyte Corp's market cap?

Incyte Corp's market capitalization is USD 26.07B.

What is Incyte Corp's P/E ratio?

Incyte Corp's price-to-earnings (P/E) ratio is 16.5.

What does Incyte Corp do?

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics in the United States, Europe, Canada, and Japan.