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Incyte Income Statement

Revenue, expenses, and profitability over time

Incyte generated $5.4B in trailing twelve-month revenue, up 0.2% year-over-year. Net income was $1.4B with a 26.71% net margin. Gross margin stands at 92.47% and operating margin at 30.05%. Diluted EPS is $7.08, which grew 27.3% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$5.4BGross Profit (TTM)$5.0BOperating Income (TTM)$1.6BNet Income (TTM)$1.4BEps Diluted (TTM)$7.08
Latest FilingQ1 2026
Report Date2026-04-28
Market Cap$21.5B
P/E Ratio15.05
ROE30.82%

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$0.96$0.82$2.09$2.17$1.51$1.52
Diluted earnings per share$0.95$0.80$2.04$2.11$1.46$1.47
Weighted-average shares, basic207.1M193.7M194M195.7M195.2M199.3M
Weighted-average shares, diluted210.5M198.2M198.7M201.4M200.7M206.8M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$1.1B$979.7M$1.1B$1.3B$1.4B$1.2B
Operating income$301.5M$205.2M$530.3M$443.5M$335.9M$301.1M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Impairment charges$0$0———$23.2M
Research and development$466M$437.3M$494.9M$506.6M$611.4M$515.9M
Selling, general and administrative$326.7M$325.7M$331M$329.1M$390.4M$328.1M
Total operating expenses$877.2M$847.7M$685.2M$922.5M$1.2B$971.6M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$313.7M$234.2M$558M$482.3M$389.9M$343.6M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$112.5M$76M$153M$58.1M$90.7M$40.3M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest expense$419K$660K$594K$592K$582K$569K
Interest income$21.2M$22.9M$25.1M$26.8M$30.8M$33.7M
Net investment gains (losses)$0-$1.3M-$4.2M$8.6M$18.2M$6.6M
Other income (expense), net$1.6M$8.1M$7.3M$4M$5.7M$2.8M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$201.2M$158.2M$405M$424.2M$299.3M$303.3M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1—$11.6M$22.8M-$12.2M-$28.3M-$168K
Other income, net (Note 6)$1.6M$8.1M$7.3M$4M$5.7M$2.8M
Revenue From Contract With Customer Excluding Assessed Tax$1.2B$1.1B$1.2B$1.4B$1.5B$1.3B

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$88.5M$73.2M$78.8M$99M$121.2M$104.5M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$1.2B$1.1B$1.2B$1.4B$1.5B$1.3B