INCY Incyte Corporation - Fundamental Analysis
NEUTRAL
INCY Stock | Fundamental Analysis & Investment Insights
NASDAQ
•
Healthcare
•
Biotechnology
Current Price
$101.42
Analyst Target
$100.09
-1.3% Downside
52W High
$109.28
52W Low
$53.56
At a glance
Key valuation, profitability, growth, and risk metrics.
Updated Jan 04, 2026
Market cap
$19.91B
P/E
17.19
ROE
30.4%
Profit margin
24.7%
Debt/Equity
0.01
Dividend yield
N/A
AI Analysis
Powered by advanced machine learning algorithms
Confidence Score
72%
Analysis Accuracy
The Advanced Deterministic Scorecard shows a weak Piotroski F-Score of 4/9, indicating marginal financial health, while the Altman Z-Score is astronomically high at 33076488422.4, suggesting no distress risk. The company exhibits strong profitability and growth, with a 24.7% profit margin, 30.39% ROE, and 290.7% YoY earnings growth, but faces headwinds from negative insider sentiment and weak technical trends. Despite trading above the Graham Number of $56.11 at $101.42, the stock appears reasonably valued relative to its growth potential, though recent insider selling and inconsistent earnings beats raise caution. Analysts recommend a 'buy' with a $100.10 target, close to current levels, implying limited upside.
Key Strengths
Exceptionally high Altman Z-Score indicates virtually no bankruptcy risk
Strong profitability metrics: 30.39% ROE, 31.63% operating margin, and 24.70% net margin
Robust revenue and earnings growth: 20% YoY revenue growth and 290.7% YoY earnings growth
Low leverage with Debt/Equity of just 0.01 and strong liquidity (Current Ratio: 3.19)
Outperforms sector averages in revenue growth and profitability
Key Risks
Weak Piotroski F-Score of 4/9 suggests suboptimal financial stability and operational efficiency
Insider selling activity: $30.03M in sales over last 6 months with zero buys
Technical trend is deeply bearish (10/100), indicating negative price momentum
Earnings surprise history is volatile, with multiple large negative misses in recent quarters
Current price ($101.42) is significantly above Graham Number ($56.11), raising valuation concerns for defensive investors
AI Fair Value Estimate
Based on comprehensive analysis
$100.0
-1.4% below current price
Performance Snowflake
Multi-dimensional analysis across 5 key categories
Overall
53
Moderate
58
76
62
70
0
AI Verdict
Moderately positive with caution due to mixed signals between strong fundamentals and weak technicals/insider activity
Key drivers: High profitability and growth metrics, Exceptional financial health per Altman Z-Score, Low debt and strong liquidity, Bearish insider activity, Weak Piotroski score and technical trend
Confidence
75%
Value
58/100
Ref P/E, PEG, Graham Number
Positives
- Forward P/E of 13.25 is below sector average of 36.60
- P/E of 17.19 is reasonable for biotech growth profile
Watchpoints
- Current price 80% above Graham Number ($56.11)
- PEG Ratio unavailable, limiting growth-adjusted valuation
Future
76/100
Ref Growth rates
Positives
- 290.7% YoY earnings growth
- 20% YoY revenue growth
- Q/Q earnings growth of 298.4%
Watchpoints
- Forward P/E compression from 17.19 to 13.25 may indicate slowing growth expectations
Past
62/100
Ref Historical trends
Positives
- 5-year price return of +17.3% outperforms sector median
- 1-year return of +45.9% shows strong recent performance
Watchpoints
- Earnings surprise history is inconsistent, with 8 misses in last 10 quarters
- 1-month return flat at -0.1% despite strong 6-month trend
Health
70/100
Ref Altman Z-Score, Piotroski F-Score
Positives
- Altman Z-Score of 33076488422.4 indicates extreme financial stability
- Debt/Equity of 0.01 shows minimal leverage
- Current and Quick Ratios well above 1 (3.19 and 2.86)
Watchpoints
- Piotroski F-Score of 4/9 indicates weak financial health per criteria
Dividend
0/100
Ref Yield, Payout
Positives
No standout positives identified.
Watchpoints
- No dividend paid (Dividend Yield: N/A)
- Dividend Strength: 0/100
- Payout Ratio: 0.00% indicates no return to shareholders
Stock Price & Analyst Targets
Real-time price movements and analyst price targets
Current Price
$101.42
Analyst Target
$100.09
Upside/Downside
-1.3%
Multi-Horizon Performance vs Peers
Price momentum across 5Y → 1W horizons for INCY and closest competitors.
Updated 2026-01-02
| Company | 5Y | 3Y | 1Y | 6M | 1M | 1W |
|---|---|---|---|---|---|---|
|
INCY
Incyte Corporation
Primary
|
+17.3% | +27.5% | +45.9% | +48.2% | -0.1% | +1.3% |
|
CNC
Centene Corporation
Peer
|
-32.7% | -47.6% | -30.9% | +25.4% | +7.7% | +3.1% |
|
ILMN
Illumina, Inc.
Peer
|
-62.5% | -31.2% | +2.6% | +33.3% | +5.0% | -0.4% |
|
ZBH
Zimmer Biomet Holdings, Inc.
Peer
|
-36.9% | -27.4% | -13.0% | -3.4% | -3.0% | -0.6% |
|
HOLX
Hologic, Inc.
Peer
|
+2.0% | -1.3% | +3.9% | +15.1% | -0.6% | +0.1% |
Positive values indicate cumulative gains over the specified period. Comparables pulled from the same sector to highlight whether momentum is stock-specific or industry-wide.
Historical Performance Trends
Long-term financial metrics and growth patterns
Revenue & Net Income
Profit & Operating Margins
Return on Equity (ROE)
Quarterly Revenue Growth
Historical data shows last 12 quarters (3 years)
Valuation Metrics
Key valuation ratios and pricing indicators
P/E Ratio
17.19
Forward P/E
13.25
PEG Ratio
N/A
P/B Ratio
4.28
P/S Ratio
4.14
EV/Revenue
3.54
EV/EBITDA
12.85
Market Cap
$19.91B
Profitability
Profit margins and return metrics
Profit Margin
24.7%
Operating Margin
31.63%
Gross Margin
56.49%
ROE
30.39%
ROA
13.54%
Growth
Revenue and earnings growth rates
Revenue Growth
+20.0%
Earnings Growth
+290.7%
Q/Q Revenue Growth
N/A
Q/Q Earnings Growth
+298.4%
Financial Health
Balance sheet strength and liquidity metrics
Debt/Equity
0.01
Low debt
Current Ratio
3.19
Strong
Quick Ratio
2.86
Excellent
Cash/Share
$14.92
Quarterly Earnings History
EPS performance vs analyst estimates
2026-02-09
$N/A
2025-10-28
$2.11
+57.8% surprise
2025-07-29
$1.57
+6.6% surprise
2025-04-29
$1.16
+12.3% surprise
Healthcare Sector Comparison
Comparing INCY against 42 companies in the Healthcare sector
(5 bullish, 31 neutral, 6 bearish)
P/E Ratio
17.19
This Stock
vs
252.74
Sector Avg
-93.2%
(Discount)
Return on Equity (ROE)
30.39%
This Stock
vs
25.54%
Sector Avg
+19.0%
(Excellent)
Profit Margin
24.7%
This Stock
vs
9.99%
Sector Avg
+147.2%
(Superior)
Debt to Equity
0.01
This Stock
vs
0.92
Sector Avg
-99.0%
(Less Debt)
Revenue Growth
20.0%
This Stock
vs
9.8%
Sector Avg
+104.0%
(Fast Growth)
Current Ratio
3.19
This Stock
vs
2.27
Sector Avg
+40.6%
(Stronger)
Similar Companies
Peer comparison within the same industry
| Company | AI Rating | Market Cap | P/E | ROE | Profit Margin | Price | |
|---|---|---|---|---|---|---|---|
|
INCY
Incyte Corporation
|
NEUTRAL | $19.91B | 17.19 | 30.4% | 24.7% | $101.42 | |
|
CNC
Centene Corporation
|
BEARISH | $20.54B | - | -21.9% | -3.2% | $41.78 | |
|
ILMN
Illumina, Inc.
|
NEUTRAL | $20.65B | 30.12 | 31.2% | 16.4% | $134.35 | |
|
ZBH
Zimmer Biomet Holdings, Inc.
|
NEUTRAL | $17.84B | 22.34 | 6.4% | 10.1% | $90.02 | |
|
HOLX
Hologic, Inc.
|
NEUTRAL | $16.63B | 29.94 | 11.1% | 13.8% | $74.56 |
Recent Insider Trading
Insider buy and sell transactions from the last 6 months
| Date | Insider | Position | Transaction | Shares | Value |
|---|---|---|---|---|---|
| 2025-12-19 | TRAY THOMAS R | Officer | Option Exercise | 2,774 | $265,638 |
| 2025-12-19 | TRAY THOMAS R | Officer | Sale | 3,374 | $336,350 |
| 2025-12-17 | MORRISSEY MICHAEL JAMES | Officer | Sale | 58,331 | $5,675,002 |
| 2025-12-11 | MAYES PATRICK A | Officer | Sale | 5,808 | $554,965 |
| 2025-12-02 | STEIN STEVEN H. | Officer | Sale | 22,664 | $2,324,438 |
| 2025-12-01 | HOFFMAN RICHARD A | General Counsel | Stock Award | 9,466 | - |
| 2025-11-24 | TRAY THOMAS R | Officer | Sale | 769 | $79,038 |
| 2025-11-17 | DENTON SHEILA A | General Counsel | Option Exercise | 278 | $17,862 |
| 2025-11-17 | DENTON SHEILA A | General Counsel | Sale | 278 | $29,012 |
| 2025-11-10 | HOPPENOT HERVE | Director | Sale | 187,500 | $19,773,750 |
| 2025-11-05 | STEIN STEVEN H. | Officer | Option Exercise | 5,233 | $486,868 |
| 2025-11-05 | STEIN STEVEN H. | Officer | Sale | 5,233 | $534,813 |
| 2025-11-04 | DENTON SHEILA A | General Counsel | Option Exercise | 598 | $34,720 |
| 2025-11-04 | DENTON SHEILA A | General Counsel | Sale | 598 | $60,613 |
| 2025-11-03 | HEESON LEE | Officer | Sale | 3,074 | $289,017 |
Insider transactions can signal confidence or concerns about company prospects
Wall Street Analysts
Professional analyst ratings and price targets
Consensus
BUY
21 analysts
Morgan Stanley
2025-12-08
Equal-Weight
Equal-Weight
Wells Fargo
2025-12-08
Overweight
Overweight
Mizuho
2025-12-08
Neutral
Outperform
Barclays
2025-11-24
Overweight
Overweight
Piper Sandler
2025-11-04
Overweight
Overweight
Guggenheim
2025-11-03
Neutral
Buy
RBC Capital
2025-10-29
Sector Perform
Sector Perform
Truist Securities
2025-10-29
Hold
Hold
Wells Fargo
2025-10-29
Overweight
Overweight
Barclays
2025-10-29
Overweight
Overweight