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Incyte Corporation (INCY) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · Biotechnology · DATA UPDATED 2026-07-17

Incyte Corporation (INCY) operates in the Biotechnology industry and is headquartered in Wilmington, United States with about 2,844 employees. Its market capitalization is roughly $24 billion. In the fiscal year ended 2025-12-31, INCY reported $5.1B in revenue and $1.3B in net income.

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics in the United States, Europe, Canada, and Japan.

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INCY Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$5.4B	$5.1B	$4.2B	$3.7B	$3.4B	$3.0B	$2.7B	$2.2B	$1.9B	$1.5B	$1.1B	$754M	$511M	$355M	$297M	$94M	$170M	$9M	$4M	$34M	$28M
Gross Profit	$5.0B	$4.8B	$3.9B	$3.4B	$3.2B	$2.8B	$2.5B	$2.0B	$1.8B	$1.5B	$1.0B	$727M	$508M	$354M	$297M	$94M	$170M	$9M	$4M	$34M	$28M
Gross Margin %	92.5%	92.8%	92.6%	93.1%	93.9%	94.9%	95.1%	94.7%	95.0%	94.8%	94.7%	96.4%	99.4%	99.8%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Operating Income (EBIT)	$1.4B	$1.3B	$101M	$655M	$592M	$586M	($264M)	$402M	$129M	($243M)	$145M	$51M	($5M)	($16M)	$1M	($143M)	$14M	($140M)	($159M)	($85M)	($77M)
Operating Margin %	27.1%	26.1%	2.4%	17.7%	17.4%	19.6%	-9.9%	18.6%	6.9%	-15.8%	13.1%	6.7%	-0.9%	-4.5%	0.4%	-151.6%	8.3%	-1508.6%	-4064.5%	-247.6%	-278.1%
Net Income	$1.4B	$1.3B	$33M	$598M	$341M	$949M	($296M)	$447M	$109M	($313M)	$104M	$7M	($48M)	($83M)	($44M)	($187M)	($32M)	($212M)	($179M)	($87M)	($74M)
Net Margin %	26.7%	25.0%	0.8%	16.2%	10.0%	31.8%	-11.1%	20.7%	5.8%	-20.4%	9.4%	0.9%	-9.5%	-23.4%	-14.9%	-197.5%	-18.8%	-2286.8%	-4565.4%	-252.3%	-268.3%
EBITDA	$1.9B	$1.8B	$408M	$919M	$600M	$630M	($178M)	$543M	$172M	($253M)	$205M	$98M	$40M	($15M)	$32M	($116M)	$36M	($123M)	($146M)	($72M)	($69M)
Earnings Per Share (EPS)	$7.07	$6.41	$0.15	$2.65	$1.52	$4.27	$-1.36	$2.05	$0.51	$-1.53	$0.54	$0.03	$-0.29	$-0.56	$-0.34	$-1.49	$-0.26	$-2.06	$-1.99	$-1.03	$-0.89
Shares Outstanding (M)	207M	201M	211M	226M	224M	222M	218M	218M	216M	205M	194M	187M	168M	148M	130M	125M	122M	103M	90M	84M	84M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INCY Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$1.3B	$1.5B	$1.4B	$1.2B	$1.1B	$1.2B	$1.1B	$1.0B
Gross Profit	$1.2B	$1.4B	$1.3B	$1.1B	$980M	$1.1B	$1.1B	$967M
Gross Margin %	91.8%	92.0%	92.8%	93.5%	93.0%	92.5%	92.4%	92.7%
Operating Income (EBIT)	$324M	$384M	$431M	$311M	$217M	$297M	$146M	($478M)
Operating Margin %	25.5%	25.5%	31.6%	25.6%	20.6%	25.2%	12.8%	-45.8%
Net Income	$303M	$299M	$424M	$405M	$158M	$201M	$106M	($445M)
Net Margin %	23.8%	19.9%	31.1%	33.3%	15.0%	17.1%	9.4%	-42.6%
EBITDA	$368M	$415M	$507M	$582M	$257M	$337M	$180M	($367M)
Earnings Per Share (EPS)	$1.47	$1.46	$2.11	$2.04	$0.80	$1.02	$0.54	$-2.04
Shares Outstanding (M)	207M	205M	201M	199M	198M	197M	196M	218M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INCY Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$1.5B	$1.4B	$335M	$496M	$970M	$749M	($125M)	$711M	$336M	($93M)	$305M	$87M	$26M	$9M	($95M)	($162M)	$98M	$12M	($141M)	($93M)	($50M)
Capital Expenditures (CapEx)	$66M	$59M	$86M	$47M	$78M	$181M	$187M	$78M	$73M	$111M	$120M	$26M	$28M	$4M	$3M	$4M	$4M	$0M	$1M	$1M	$2M
Free Cash Flow (FCF)	$1.5B	$1.4B	$249M	$449M	$892M	$568M	($312M)	$633M	$263M	($204M)	$184M	$61M	($2M)	$5M	($98M)	($166M)	$94M	$12M	($142M)	($94M)	($52M)
FCF Margin %	27.1%	26.4%	5.9%	12.2%	26.3%	19.0%	-11.7%	29.3%	14.0%	-13.3%	16.7%	8.0%	-0.3%	1.4%	-32.9%	-175.2%	55.2%	129.2%	-3612.1%	-272.5%	-187.9%
Dividends Paid	—	—	—	—	$26M	$30M	$23M	$17M	—	$0M	$0M	$0M	$0M	$0M	$0M	$0M	—	—	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INCY Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$369M	$543M	$559M	$45M	$266M	$381M	$311M	($576M)
Capital Expenditures (CapEx)	$10M	$22M	$15M	$19M	$3M	$17M	$18M	$56M
Free Cash Flow (FCF)	$359M	$521M	$545M	$26M	$263M	$364M	$293M	($631M)
FCF Margin %	28.2%	34.6%	39.9%	2.1%	25.0%	30.9%	25.8%	-60.5%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INCY Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$7.3B	$7.0B	$5.4B	$6.8B	$5.8B	$4.9B	$3.6B	$3.4B	$2.6B	$2.3B	$1.6B	$1.0B	$830M	$630M	$330M	$329M	$490M	$712M	$232M	$276M	$354M
Cash & Cash Equivalents	$3.5B	$3.1B	$1.7B	$3.2B	$3.0B	$2.1B	$1.5B	$1.8B	$1.2B	$900M	$652M	$521M	$452M	$471M	$224M	$278M	$418M	$450M	$179M	$109M	$19M
Total Liabilities	$1.8B	$1.8B	$2.0B	$1.6B	$1.5B	$1.2B	$950M	$828M	$720M	$672M	$1.2B	$836M	$878M	$823M	$505M	$556M	$578M	$815M	$453M	$435M	$439M
Total Debt (Short + Long-Term)	$4M	$10M	$44M	$38M	$41M	$45M	$15M	$47M	$36M	$24M	$1.3B	$1.2B	$689M	$662M	$331M	$614M	$293M	$443M	$425M	$409M	$387M
Total Shareholders' Equity	$5.6B	$5.2B	$3.4B	$5.2B	$4.4B	$3.8B	$2.6B	$2.6B	$1.9B	$1.6B	$419M	$171M	($82M)	($193M)	($175M)	($227M)	($89M)	($102M)	($221M)	($160M)	($85M)

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive INCY viewer.

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