Incyte Corporation (INCY)

FairStock Score: 92/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Incyte as a business, not a ticker. It discovers and sells medicines for blood cancers and related conditions, including JAKAFI, ICLUSIG, and MONJUVI/MINJUVI. The financials have improved sharply. In fiscal 2025, the year ended 2025-12-31, revenue was $5.1B, net income $1.3B, and diluted EPS $6.41. That compares with fiscal 2024 revenue of $4.2B, net income of just $32.6M, and diluted EPS of $0.15. Fiscal 2023 had revenue of $3.7B, net income of $597.6M, and diluted EPS $2.65. Fiscal Q1 2026, the quarter ended 2026-03-31, showed revenue of $1.3B and net income of $303.3M, or $1.47 per diluted share. So the trajectory is real, but not linear. The balance sheet is conservative: debt-to-equity is 0.01, free cash flow is $1.9B, and the FCF yield is 8.7%. FairStock shows ROE of 30.67%, ROCE of 16.83%, Piotroski F-Score of 7/9, and Altman Z-Score of 9.94. At the 2026-10-13 close of $108.62, the P/E is 13.85, P/B is 3.44, PEG is 0.31, and EV/EBITDA is 8.59. The Graham Number is $74.63, so the price is about 46% above that conservative value. FairStock's Lynch category is SLOW GROWER, with profit up 7.9% a year over four years and revenue up 14.5%. The moat is intellectual property and approved products, but it needs constant clinical and regulatory renewal. I see a financially strong company with a demanding price and volatile earnings history.

In plain English: Incyte is a biopharmaceutical company that sells medicines for blood cancers and related diseases. The business looks financially strong: it earns good profits, carries almost no debt, and generates substantial cash. However, the stock price looks high compared with a conservative value estimate based on its assets and earnings, so the price is not obviously cheap.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · fiscal Q1 2025 10-Q (period ended 2025-03-31) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer