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Incyte INCY Operating margin

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Other financials

Income statement

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Revenue$1.7B+37.7%
Gross profit$1.6B+38.0%
Operating income$697.9M+31.6%
Net income$585.6M+44.6%
EPS (diluted)$2.81+37.7%

Balance sheet

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Cash & equivalents$4.0B+104%
Total debt$38.3M-9.8%
Total equity$6.3B+52.1%
Total assets$7.9B+35.2%

Cash flow

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Operating cash flow$507.7M+1,035%
CapEx$1.6M-43.5%
Free cash flow$509.3M+1,069%

Valuation

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Market cap$24.23B+59.0%
Enterprise value$20.28B+52.2%
P/E15×-2.5×
P/S4.2×+0.8×

Profitability

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Gross margin92.6%-0.3pp
Net margin27.7%+8.7pp
FCF margin34%+12.3pp

Returns & leverage

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Return on equity30.7%+6.4pp
Debt / equity0.0×
Current ratio4.6×+1.7×

Where this comes from

Calculated from Incyte’s reported figures.

Based on trailing twelve months.

The source filing: Incyte’s 10-Q, filed July 28, 2026. Open the filing →

Filed
Jul 28, 2026, 4:02 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000879169-26-000056

FAQ

What is Incyte's operating margin?
Incyte (INCY) reported operating margin of 30.6% in Q2 2026.
How has Incyte's operating margin changed year-over-year?
Incyte's operating margin increased by 18.4% year-over-year, from 25.8% to 30.6%.
What is the long-term trend for Incyte's operating margin?
Over 4 years (2021 to 2025), Incyte's operating margin has grown at a 10.7% compound annual growth rate (CAGR), from 19.6% to 29.5%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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