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Incyte INCY Return on invested capital

Return on invested capital at other companies

Bristol-Myers Squibb logo
Bristol-Myers SquibbBMY
13%+4.2pp
Pfizer logo
PfizerPFE
6%
Gilead Sciences logo
Gilead SciencesGILD
23.7%+4.4pp
Johnson & Johnson logo
Johnson & JohnsonJNJ
20.6%+0.3pp
Amgen logo
AmgenAMGN
14.1%+4.0pp
Biogen logo
BiogenBIIB
7.8%-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 return on invested capital?
Incyte (INCY) reported return on invested capital of 65.6% in Q1 2026.
How has Incyte's return on invested capital changed year-over-year?
Incyte's return on invested capital increased by 1345.6% year-over-year, from 4.5% to 65.6%.
What is the long-term trend for Incyte's return on invested capital?
Over 3 years (2022 to 2025), Incyte's return on invested capital has grown at a -1.3% compound annual growth rate (CAGR), from 161.5% to 155.3%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.