10 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $5.1B | $1.3B | 92.8% | 29.5% | — | — | $3.1B |
| 2024 | $4.2B | $33M | 92.6% | 1.4% | — | — | $1.7B |
| 2023 | $3.7B | $598M | 93.1% | 16.8% | — | — | $3.2B |
| 2022 | $3.4B | $341M | 93.9% | 17.1% | $892M | — | $3.0B |
| 2021 | $3.0B | $949M | 94.9% | 19.6% | $568M | — | $2.1B |
| 2020 | $2.7B | -$296M | 95.1% | -9.9% | -$312M | — | $1.5B |
| 2019 | $2.2B | $447M | 94.7% | 18.6% | $633M | — | $1.8B |
| 2018 | $1.9B | $109M | 95.0% | 6.9% | $263M | $19.1B | $1.2B |
| 2017 | $1.5B | -$313M | 94.8% | -15.8% | -$204M | $27M | $900M |
| 2016 | — | $104M | — | — | $184M | $750M | $652M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $1.3B | $303M | 91.8% | 23.7% | — | — | $3.5B |
| Dec '25 | $1.5B | $299M | 92.0% | 22.3% | — | — | $3.1B |
| Sep '25 | $1.4B | $424M | 92.8% | 32.5% | — | — | $2.5B |
| Jun '25 | $1.2B | $405M | 93.5% | 43.6% | — | — | $2.0B |
| Mar '25 | $1.1B | $158M | 93.0% | 19.5% | — | — | $1.9B |
| Dec '24 | $1.2B | $201M | 92.5% | 25.6% | — | — | $1.7B |
| Sep '24 | $1.1B | $106M | 92.4% | 12.8% | — | — | $1.3B |
| Jun '24 | $1.0B | -$445M | 92.7% | -45.8% | — | — | $987M |
| Mar '24 | $881M | $170M | 93.1% | 10.4% | — | — | $3.3B |
| Dec '23 | $1.0B | $201M | 93.1% | 18.5% | — | — | $3.2B |
| Sep '23 | $919M | $171M | 93.5% | 23.4% | — | — | $3.2B |
| Jun '23 | $955M | $204M | 92.8% | 20.3% | — | — | $3.1B |
| Mar '23 | $809M | $22M | 93.0% | 3.1% | — | — | $2.8B |
| Dec '22 | $927M | $28M | 93.6% | 7.6% | — | — | $3.0B |
| Sep '22 | $823M | $113M | 93.4% | 16.8% | — | — | $2.7B |
| Jun '22 | $911M | $161M | 94.4% | 27.9% | — | — | $2.4B |
| Mar '22 | $733M | $38M | 94.2% | 15.9% | — | — | $2.3B |
| Dec '21 | $863M | $564M | 94.9% | 12.8% | — | — | $2.1B |
| Sep '21 | $813M | $182M | 95.1% | 29.0% | — | — | $2.0B |
| Jun '21 | $706M | $149M | 94.6% | 20.0% | — | — | $1.8B |
How the market has priced INCY against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Incyte's revenue has grown 14.0% per year. These are computed facts, not advice.
As of FY2025, Incyte reported — of total debt against $3.1B of cash; operating income covered interest expense 624×.
In FY2025, gross margin was 92.8%, operating margin 29.5%, and net margin 25.0%.
As of Jun '26, Incyte traded at a price-to-earnings ratio of about 16.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.