Incyte (INCY)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from INCY's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Incyte's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $3.0B | $3.4B | $3.7B | $4.2B | $5.1B |
| Net income | $949M | $341M | $598M | $33M | $1.3B |
| Free cash flow | $568M | $892M | — | — | — |
| EPS (diluted) | $4.27 | $1.52 | $2.65 | $0.15 | $6.41 |
| Operating margin | 19.6% | 17.1% | 16.8% | 1.4% | 29.5% |
Where the revenue comes from
Revenue by products, fiscal 2025.
Superinvestors who own INCY
From each investor's latest 13F filing (what a 13F shows). 3 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Dodge & Cox Dodge & Cox |
Trimmed | $1.4B | 0.71% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Trimmed | $603M | 0.21% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $82M | 0.19% | Q2 2026 |
Insider buying
Open-market purchases by Incyte's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 30, 2026 | Ro Khanna |
0 | $90.33 | — |
| Mar 30, 2026 | Ro Khanna |
0 | $90.33 | — |
| Jan 29, 2026 | Ro Khanna |
0 | $101.08 | — |
| Jan 29, 2026 | Ro Khanna |
0 | $101.08 | — |
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In the full deep dive
Questions
Are Incyte insiders buying the stock?
4 open-market insider purchases of INCY in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Incyte?
3 of the superinvestors Investingly tracks hold INCY in their latest 13F, including Dodge & Cox, Cliff Asness, Joel Greenblatt.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.