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Incyte INCY Free cash flow margin

Free cash flow margin at other companies

Bristol-Myers Squibb logo
Bristol-Myers SquibbBMY
24.6%-2.9pp
Pfizer logo
PfizerPFE
18%+8.8pp
Gilead Sciences logo
Gilead SciencesGILD
34.4%+0.1pp
Johnson & Johnson logo
Johnson & JohnsonJNJ
18.5%-4.3pp
Amgen logo
AmgenAMGN
23.1%-8.9pp
Biogen logo
BiogenBIIB
24.4%-0.4pp

Other financials

Income statement

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Revenue$1.3B+20.9%
Gross profit$1.2B+19.2%
Operating income$301.1M+46.8%
Net income$303.3M+91.7%
EPS (diluted)$1.47+83.8%

Balance sheet

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Cash & equivalents$3.5B+78.2%
Total debt$39.4M-8.6%
Total equity$5.6B+53.3%
Total assets$7.3B+27.7%

Cash flow

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Operating cash flow$369.4M+38.8%
CapEx$1.6M-43.5%
Free cash flow$367.7M+39.7%

Valuation

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Market cap$19.78B+59.9%
Enterprise value$16.35B+55.9%
P/E13.8×-568×
P/S3.7×+0.9×

Profitability

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Gross margin92.5%-0.2pp
Operating margin30%+26.1pp
Net margin26.7%+26.2pp

Returns & leverage

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Return on equity30.8%+30.4pp
Debt / equity0.0×
Current ratio3.7×+1.6×

Where this comes from

Calculated from Incyte’s reported figures.

Based on trailing twelve months.

The official record: Incyte’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Incyte's free cash flow margin?
Incyte (INCY) reported free cash flow margin of 28.2% in Q1 2026.
How has Incyte's free cash flow margin changed year-over-year?
Incyte's free cash flow margin increased by 230.0% year-over-year, from 8.6% to 28.2%.
What is the long-term trend for Incyte's free cash flow margin?
Over 3 years (2022 to 2025), Incyte's free cash flow margin has grown at a -1.4% compound annual growth rate (CAGR), from 87.2% to 83.6%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.