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Incyte INCY Q4 2025 Annual earnings

Reported February 10, 2026 · Before market open

Revenue$1.5BBeat by $152.0M
EPS$1.80Miss by $0.10
Revenue estimate$1.4B
EPS estimate$1.90

Next report

Oct 27, 2026 (in 2 months)
Revenue estimate$1.5B
EPS estimate-$2.83

Financials

Q4 2025

Income statement

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Revenue$1.5B+27.8%
Gross profit$1.4B+27.1%
Operating income$335.9M+11.4%
Net income$299.3M+48.7%
EPS (diluted)$1.46+53.7%

Balance sheet

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Cash & equivalents$3.1B+83.5%
Total debt$59.4M-8.2%
Total equity$5.2B+49.9%
Total assets$7.0B+27.8%

Cash flow

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Operating cash flow$543.3M+42.5%
CapEx$771.0K—
Free cash flow$542.5M+42.0%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$19.39B+45.7%
Enterprise value$16.35B+40.0%
P/E15.1×-393×
P/S3.8×+0.6×

Profitability

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Gross margin92.8%+0.1pp
Operating margin29.5%+28.0pp
Net margin25%+24.3pp
FCF margin27.4%+19.6pp

Returns & leverage

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Return on equity29.9%+29.1pp
Debt / equity0×0.0×
Current ratio3.3×+1.3×

Segments

By product

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JAKAFI$828.2M+7.1%
OPZELURA$207.3M+28.3%
JAKAVI Royalty Revenues$130.2M+14.0%
Milestone and contract revenues$100.0M—
NIKTIMVO$56.0M—

By geography

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Europe$76.0M-14.4%
Other countries$6.1M+143%

By segment

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Reportable Segment$1.5B+27.8%

FAQ

When did Incyte report Q4 2025 earnings?
Incyte (INCY) reported Q4 2025 earnings on February 10, 2026 before market open.
What were Incyte's Q4 2025 revenue and EPS?
Incyte reported revenue of $1.5B and eps of $1.80 for Q4 2025.
Did Incyte beat estimates in Q4 2025?
Revenue beat the consensus estimate of $1.4B by $152.0M. EPS missed the consensus estimate of $1.90 by $0.10.
How did Incyte's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 27.8% from $1.2B a year earlier and eps grew 25.9% from $1.43.
Where can I find Incyte's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000879169-26-000006) and the 10-K periodic report (0000879169-26-000010) directly on SEC EDGAR. The filing index links above go to sec.gov.