The full income statement, balance sheet, and cash-flow statement for Incyte Corp. (INCY), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 5.14B+21.2% | 4.24B+14.8% | 3.70B+8.9% | 3.39B+13.7% | 2.99B+12.0% | |
| 4.77B+21.4% | 3.93B+14.2% | 3.44B+7.9% | 3.19B+12.4% | 2.84B+11.8% | ||
| Cost of revenue | 372M+19.2% | 312M+22.4% | 255M+23.2% | 207M+37.1% | 151M+15.0% | |
| Research & development | 2.05B-21.4% | 2.61B+60.2% | 1.63B+2.6% | 1.59B+8.8% | 1.46B-34.2% | |
| Selling, general & administrative | 1.38B+10.8% | 1.24B+7.5% | 1.16B+15.3% | 1.00B+35.5% | 740M+43.1% | |
| Amortization of intangibles | 26.7M+13.1% | 23.6M+4.9% | 22.5M+4.7% | 21.5M+0.0% | 21.5M+0.0% | |
| Operating income | 1.51B+2368.6% | 61.4M-90.1% | 621M+7.1% | 579M-1.1% | 586M+322.2% | |
| Interest expense | 2.43M+6.5% | 2.28M-10.6% | 2.55M-4.3% | 2.67M+39.7% | 1.91M-12.2% | |
| Interest & investment income | 106M-18.0% | 129M-18.8% | 158M+291.6% | 40.5M | — | |
| Other non-operating income | 25.1M+96.0% | 12.8M-8.1% | 13.9M+2784.8% | -519K-104.9% | 10.6M-54.1% | |
| Gain (loss) on equity securities | 21.3M-81.6% | 116M+164.3% | 43.9M+150.1% | -87.6M-263.9% | -24.1M-330.9% | |
| Pre-tax income | 1.66B+425.7% | 317M-62.0% | 834M+57.7% | 529M-7.2% | 570M+345.7% | |
| Income tax | 378M+33.0% | 284M+20.0% | 237M+25.6% | 188M+149.8% | -378M-695.7% | |
| 1.29B+3845.0% | 32.6M-94.5% | 598M+75.4% | 341M-64.1% | 949M+420.8% | ||
| Net income to common | 1.29B+3845.0% | 32.6M-94.5% | 598M+75.4% | 341M-64.1% | 949M+420.8% | |
| $6.41+4173.3% | $0.15-94.3% | $2.65+74.3% | $1.52-64.4% | $4.27+414.0% | ||
| EPS (basic) | $6.59+4018.8% | $0.16-94.0% | $2.67+74.5% | $1.53-64.4% | $4.30+416.2% | |
| Weighted-avg shares (basic) | 195M-5.7% | 207M-7.4% | 224M+0.7% | 222M+0.7% | 220M+1.1% | |
| Weighted-avg shares (diluted) | 201M-4.7% | 211M-6.8% | 226M+0.9% | 224M+0.8% | 222M+1.8% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 5.02B+55.1% | 3.24B-30.3% | 4.65B+13.5% | 4.09B+31.2% | 3.12B+32.2% | ||
| Cash & equivalents | 3.10B+83.5% | 1.69B-47.5% | 3.21B+8.9% | 2.95B+43.5% | 2.06B+36.0% | |
| Inventory | 101M+71.7% | 58.9M-6.5% | 63.0M+50.0% | 42.0M+50.5% | 27.9M+69.9% | |
| Prepaid expenses | 318M+88.2% | 169M-7.6% | 183M+9.5% | 167M+32.3% | 126M+110.1% | |
| 6.96B+27.8% | 5.44B-19.7% | 6.78B+16.1% | 5.84B+18.4% | 4.93B+38.5% | ||
| Property, plant & equipment | 731M-4.3% | 763M+1.6% | 752M+1.7% | 739M+2.1% | 724M+29.4% | |
| Goodwill | 133M-14.5% | 156M+0.0% | 156M+0.0% | 156M+0.0% | 156M+0.0% | |
| Long-term investments | — | — | 188M+40.4% | 134M-39.6% | 221M-0.5% | |
| Deferred tax assets | 515M-32.4% | 762M+20.6% | 632M+38.0% | 458M-2.1% | 468M+22662.3% | |
| Other non-current assets | 18.2M+67.5% | 10.8M-79.2% | 52.1M+104.9% | 25.4M-31.8% | 37.3M-5.3% | |
| 1.52B-7.7% | 1.64B+32.4% | 1.24B+7.2% | 1.16B+35.4% | 854M+35.3% | ||
| Accounts payable | 210M+6.3% | 197M+80.2% | 110M-60.5% | 278M+61.3% | 172M+74.3% | |
| Accrued liabilities | 1.03B-14.9% | 1.21B+29.6% | 936M+33.5% | 701M+31.4% | 534M+41.0% | |
| Current lease liability | 5.70M+2.0% | 5.58M-1.8% | 5.69M-30.6% | 8.20M-22.4% | 10.6M-16.7% | |
| Other current liabilities | 90.7M+54.1% | 58.9M-19.7% | 73.3M+7.2% | 68.4M+49.6% | 45.8M+30.3% | |
| Finance lease liability (current) | 4.52M+2.2% | 4.42M+28.5% | 3.44M+8.2% | 3.18M+20.6% | 2.63M+15.4% | |
| 1.79B-10.3% | 2.00B+25.4% | 1.59B+8.3% | 1.47B+26.4% | 1.16B+22.5% | ||
| Non-current lease liability | 14.5M-13.6% | 16.8M+17.6% | 14.3M+1.2% | 14.1M-9.6% | 15.6M+10.0% | |
| Operating lease liability (total) | 20.2M-9.7% | 22.4M+12.0% | 20.0M-10.5% | 22.3M-14.7% | 26.2M-2.6% | |
| Finance lease liability (total) | 34.7M-8.6% | 38.0M+16.4% | 32.6M-2.0% | 33.3M-2.9% | 34.3M-1.7% | |
| Finance lease liability | 30.2M-10.0% | 33.5M+15.0% | 29.2M-3.1% | 30.1M-4.9% | 31.6M-2.9% | |
| Other non-current liabilities | 165M-1.4% | 168M+12.3% | 149M+50.3% | 99.2M+40.9% | 70.4M+20.8% | |
| 5.17B+49.9% | 3.45B-33.6% | 5.19B+18.8% | 4.37B+15.9% | 3.77B+44.4% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 198K+2.6% | 193K-13.8% | 224K+0.4% | 223K+0.9% | 221K+0.9% | |
| Additional paid-in capital | 4.93B+8.7% | 4.53B-9.6% | 5.02B+4.7% | 4.79B+4.9% | 4.57B+4.9% | |
| Retained earnings | 214M+119.9% | -1.07B-768.9% | 160M+136.7% | -437M+43.8% | -778M+54.9% | |
| Accumulated other comprehensive income | 25.5M+294.1% | -13.1M-200.1% | 13.1M-13.0% | 15.1M+177.5% | -19.5M-26.7% | |
| Total equity incl. non-controlling | 5.17B+49.9% | 3.45B-33.6% | 5.19B+18.8% | 4.37B+15.9% | 3.77B+44.4% | |
| Total liabilities & equity | 6.96B+27.8% | 5.44B-19.7% | 6.78B+16.1% | 5.84B+18.4% | 4.93B+38.5% | |
| Common shares issued | 198M+2.6% | 193M-13.8% | 224M+0.7% | 223M+0.8% | 221M+0.7% | |
| Common shares outstanding | 198M+2.6% | 193M-13.8% | 224M+0.7% | 223M+0.8% | 221M+0.7% | |
| Shares outstanding (cover) | 199M+2.8% | 194M-13.8% | 225M+0.7% | 223M+0.7% | 221M+0.7% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.41B+321.5% | 335M-32.5% | 496M-48.8% | 970M+29.4% | 749M+701.5% | ||
| Depreciation & amortization | 93.3M+4.5% | 89.2M+8.0% | 82.7M+21.8% | 67.9M+17.3% | 57.8M+11.7% | |
| Intangible amortization | 26.7M+13.1% | 23.6M+4.9% | 22.5M+4.7% | 21.5M+0.0% | 21.5M+0.0% | |
| Share-based compensation | 249M-6.3% | 266M+23.2% | 216M+14.6% | 188M+3.0% | 183M+2.9% | |
| Deferred income taxes | 248M+389.5% | -85.6M+46.2% | -159M-378.3% | 57.1M+112.3% | -466M-132929.7% | |
| Change in receivables | 171M+53.0% | 112M+13.1% | 98.7M+245.3% | 28.6M-78.7% | 134M-22.4% | |
| Change in inventory | 58.5M-54.2% | 128M-25.0% | 170M+152.1% | 67.5M+222.0% | 21.0M+7.7% | |
| Change in payables | 6.56M-92.6% | 88.2M+152.5% | -168M-259.3% | 105M+43.8% | 73.3M+385.1% | |
| -103M-165.1% | 158M+175.8% | -208M-164.4% | -78.5M+62.2% | -208M+22.8% | ||
| Capital expenditure | 58.9M-31.8% | 86.3M+165.5% | 32.5M-58.3% | 77.8M-57.0% | 181M-3.4% | |
| Free cash flow | 1.35B+443.9% | 249M-46.3% | 464M-48.0% | 892M+56.9% | 568M+282.2% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| 101M+105.0% | -2.02B-9991.1% | -20.0M-2423.0% | -794K-112.9% | 6.18M-91.4% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00-100.0% | 2.00B | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| FX effect on cash | -1.71M-158.5% | 2.92M+143.8% | -6.68M-299.0% | 3.35M+194.0% | -3.57M-221.1% | |
| Net change in cash | 1.41B+192.4% | -1.53B-682.1% | 262M-70.7% | 894M+64.2% | 544M+270.7% | |
| Interest paid | — | — | — | — | 396K+104.1% | |
| Income taxes paid | 212M-43.1% | 373M-1.4% | 378M+177.6% | 136M+101.2% | 67.7M-4.2% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 19.6B+46.7% | 13.4B-5.1% | 14.1B-21.3% | 17.9B+10.1% | 16.2B-15.0% | |
| P/E | 15.2×-96.3% | 409.6×+1137.2% | 33.1×+62.3% | 20.4×+19.2% | 17.1× | |
| P/S | 3.8×+21.0% | 3.2×-19.2% | 3.9×-27.3% | 5.4×-1.3% | 5.4×-24.1% | |
| P/B | 3.8×-2.1% | 3.9×+35.8% | 2.9×-32.5% | 4.2×-1.8% | 4.3×-41.1% | |
| P/FCF | 14.5×-73.0% | 53.6×+121.4% | 24.2×-3.7% | 25.1×-11.9% | 28.5× | |
| Earnings yield | 6.6%+2588.9% | 0.24%-91.9% | 3.0%-38.4% | 4.9%-16.1% | 5.8% | |
| FCF yield | 6.9%+270.7% | 1.9%-54.8% | 4.1%+3.8% | 4.0%+13.5% | 3.5% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
Source: INCY’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all INCY filings on SEC EDGAR → Not investment advice.
