INCY
HealthcareIncyte Corporation · Biotechnology · $19B
What is Incyte Corporation?
Incyte Corporation is a biopharmaceutical company focused on discovering, developing, and commercializing proprietary therapeutics across oncology and hematology. Headquartered in Wilmington, Delaware, Incyte markets approved drugs while advancing a deep clinical pipeline.
Incyte generates revenue primarily through sales of its approved oncology and hematology medicines, supplemented by royalties and collaboration agreements with major pharmaceutical partners. The company's commercial portfolio targets rare blood cancers and other serious conditions, while its clinical pipeline pursues additional indications across solid tumors, lymphomas, and immune-mediated diseases. Collaboration deals with partners such as Novartis, Eli Lilly, and others provide milestone payments and royalty streams that complement direct product sales.
Incyte was founded in 1993 and is headquartered in Wilmington, Delaware.
- JAKAFI — approved treatment for myelofibrosis and polycythemia vera
- PEMAZYRE — FGFR kinase inhibitor for liquid and solid tumor types
- ICLUSIG — kinase inhibitor for chronic myeloid leukemia and Ph+ ALL
- Retifanlimab — clinical-stage immunotherapy across multiple cancer types
- Ruxolitinib — investigational therapy for steroid-refractory chronic GVHD
Is INCY a Good Stock to Buy?
UQS Score rates INCY as Very Good overall.
Incyte's Quality and Risk pillars both register as Strong, reflecting a business that generates meaningful commercial revenue from approved products while maintaining a financial profile that compares favorably to many biopharmaceutical peers. The Valuation pillar is rated Attractive, suggesting the market may not be fully pricing in the company's fundamentals relative to its sector.
The Moat pillar sits at Neutral, a common profile for biopharmaceuticals where patent cliffs and competitive pipeline dynamics can limit long-term pricing power.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does INCY pay dividends?
No — Incyte Corporation does not currently pay a dividend.
Incyte does not currently pay a dividend. This is typical for biopharmaceutical companies at Incyte's stage, where capital is prioritized toward research and development, clinical trials, and pipeline expansion. Investors in INCY are generally seeking capital appreciation driven by drug approvals and pipeline progress rather than income distributions.
When does INCY report earnings?
Incyte reports earnings on a quarterly cadence, consistent with standard practice for US-listed equities.
Incyte's commercial portfolio, anchored by JAKAFI, has been a consistent revenue driver. Pipeline milestones and collaboration updates tend to be key focal points each quarter alongside product sales figures.
For the most recent quarter's results and upcoming reporting dates, visit Incyte Corporation's investor relations page directly.
INCY Price History
+14.8% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Incyte Corporation?
Based on Incyte Corporation's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
INCY Long-term Outlook
Incyte's Good Growth pillar suggests the company is on a trajectory of meaningful expansion, supported by its established commercial products and a broad clinical pipeline. The Strong Risk profile indicates the business is relatively well-positioned to manage sector-specific uncertainties. However, biopharmaceutical growth is inherently tied to clinical trial outcomes and regulatory decisions, which can introduce variability. The Attractive Valuation rating adds a further dimension for investors evaluating the risk-reward profile.
Growth drivers
- Expanding approved indications for existing commercial products like JAKAFI
- Late-stage pipeline candidates across oncology and hematology advancing toward potential approval
- Royalty and milestone revenue from global collaboration agreements with major pharma partners
Key risks
- Clinical trial failures or regulatory setbacks in the pipeline
- Patent expiration and biosimilar competition for key commercial products
- Sector-wide pricing pressure and reimbursement challenges in oncology
INCY vs Peers
Incyte operates in a competitive biopharmaceutical landscape alongside companies pursuing overlapping oncology and hematology markets.
Summit is a clinical-stage company focused on a narrower pipeline, giving it a higher-risk, higher-upside profile compared to Incyte's diversified commercial base.
Genmab specializes in antibody-based cancer therapies and relies heavily on partnership royalties, contrasting with Incyte's more direct commercial sales model.
Moderna pursues mRNA-based medicines across oncology and infectious disease, representing a different technological approach to cancer treatment than Incyte's small-molecule and kinase-inhibitor focus.
Frequently Asked Questions
What does Incyte Corporation do?
Incyte is a biopharmaceutical company that discovers, develops, and sells proprietary medicines, primarily in oncology and hematology. Its commercial products include treatments for rare blood cancers, and its pipeline spans multiple clinical-stage programs targeting solid tumors, lymphomas, and immune-mediated diseases.
Does INCY pay dividends?
Incyte does not pay a dividend. The company reinvests its resources into research, clinical development, and pipeline expansion — a common approach for biopharmaceutical companies focused on long-term drug discovery rather than near-term income distribution.
When does INCY report earnings?
Incyte reports financial results on a quarterly cadence, as is standard for US-listed companies. For the exact timing of upcoming earnings releases, check Incyte's official investor relations page, which publishes the reporting calendar in advance.
Is INCY a good stock to buy?
UQS Score rates INCY as Very Good, with Strong marks in both Quality and Risk, a Good Growth rating, and an Attractive Valuation. The Moat pillar is Neutral, reflecting competitive dynamics typical in biopharmaceuticals. The full pillar breakdown is available to Pro members.
Is INCY overvalued?
The UQS Valuation pillar for INCY is rated Attractive, suggesting the stock may be reasonably priced relative to its fundamentals when compared to sector peers. For the detailed valuation metrics behind this rating, sign up for a UQS Pro account.
How does INCY compare to its competitors?
Incyte stands out among biopharmaceutical peers through its diversified commercial portfolio and royalty-generating collaboration agreements. Compared to earlier-stage peers like Summit Therapeutics, Incyte carries a more established revenue base, while differing from Genmab and Moderna in its therapeutic approach and technology platform.
What is INCY's market cap bracket?
Incyte Corporation is classified as a large-cap stock, placing it among the more established companies in the biopharmaceutical sector by market size.
Who founded Incyte Corporation?
Incyte was founded in 1993. For detailed founding history and leadership background, Incyte's official corporate website and public filings provide comprehensive historical context.
Is INCY a long-term quality stock?
As a long-term quality indicator, INCY's Strong Quality and Risk pillar ratings suggest a business with durable commercial operations and a manageable risk profile. The Neutral Moat rating is worth monitoring, as competitive dynamics in biopharmaceuticals can shift with patent timelines and new entrants.
What is the main competitive advantage of Incyte Corporation?
Incyte's key advantages include its established commercial oncology portfolio, a broad clinical pipeline across multiple cancer types, and royalty-generating partnerships with global pharmaceutical leaders. These elements combine to create multiple revenue streams beyond any single product.
What sector does INCY belong to?
Incyte Corporation belongs to the Healthcare sector, specifically within the biopharmaceutical industry. It focuses on oncology and hematology, areas with significant unmet medical need and active drug development competition.
Is INCY a growth stock or value stock?
Based on UQS pillar ratings, INCY shows characteristics of both: the Growth pillar is rated Good, indicating meaningful expansion potential, while the Valuation pillar is rated Attractive, suggesting it is not priced at a significant premium relative to fundamentals — a blend that may appeal to quality-oriented investors.
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Pro Analysis
INCY — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 78.3 | 93.9 | 44.0 | 75.1 | 100.0 | 91.8 | +0.3 |
| May 21, 2026 | 78.0 | 93.8 | 44.0 | 74.8 | 100.0 | 90.9 | -0.3 |
| May 17, 2026 | 78.3 | 94.1 | 44.0 | 74.8 | 100.0 | 92.3 | +0.1 |
| May 16, 2026 | 78.2 | 94.1 | 44.0 | 74.8 | 100.0 | 91.7 | +0.4 |
| May 13, 2026 | 77.8 | 93.5 | 44.0 | 74.8 | 100.0 | 90.0 | 0.0 |
| May 12, 2026 | 77.8 | 93.5 | 44.0 | 74.8 | 100.0 | 89.8 | 0.0 |
| May 11, 2026 | 77.8 | 93.6 | 44.0 | 74.8 | 100.0 | 89.6 | -0.1 |
| May 7, 2026 | 77.9 | 93.0 | 44.0 | 74.8 | 100.0 | 91.4 | -0.2 |
| May 3, 2026 | 78.1 | 93.0 | 44.0 | 74.8 | 100.0 | 92.9 | -0.2 |
| May 1, 2026 | 78.3 | 93.0 | 44.0 | 74.8 | 100.0 | 93.7 | +0.1 |
INCY — Pillar Breakdown
Quality
— 94.0/100 (25%)Incyte Corporation demonstrates outstanding capital efficiency and profitability, placing it among the highest-quality businesses in the market.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 75.1/100 (20%)Incyte Corporation is growing rapidly with strong revenue and earnings expansion.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 100.0/100 (15%)Incyte Corporation carries minimal financial risk with conservative leverage and strong solvency.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 91.0/100 (15%)Incyte Corporation appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 44/100 (25%)Incyte Corporation possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for INCY.
Score Composition
Financial Data
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How is the INCY UQS Score Calculated?
The UQS (Unified Quality Score) for Incyte Corporation is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Incyte Corporation's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Incyte Corporation is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.