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Incyte Business Segments

Business, geographic, and product segment breakdowns

Incyte generates $5.4B in annual revenue across 1 key segments: Business Segments ($403.5M). The company-wide operating margin is 30.05%. Based on the Q1 2026 filing.

Business Segments (TTM)$403.5M
Latest FilingQ1 2026
Report Date2026-04-28
Market Cap$21.5B
P/E Ratio15.05
ROE30.82%

Products & Services

Accrued and other liabilities

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Axatilimab - Commercialization Activities————$27.6M$22.5M
Axatilimab - Development Activities$2.2M———$2.4M$1.4M

Total revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
JAKAFI$773.1M$709.4M$763.8M$791.1M$828.2M$757.8M
OPZELURA$161.6M$118.7M$164.5M$188M$207.3M$143M
JAKAVI Royalty Revenues$114.2M$92.1M$109.7M$125.6M$130.2M$105.6M
NIKTIMVO$0$13.6M$36.2M$45.8M$56M$55.1M
MINJUVI/MONJUVI$32.8M$29.6M$31.1M$42M$41.9M$49.2M
ZYNYZ$1.4M$3M$8.9M$22.7M$31.7M$41.4M
OLUMIANT Royalty Revenues—$30.8M$33.5M$37.1M—$36.4M
ICLUSIG$27.4M$29.5M$32.7M$37.6M$34.2M$35.5M
PEMAZYRE$23.1M$18.4M$22.2M$22.7M$23.4M$22.5M
Milestone and contract revenues$0$0$5M$45M$100M$17M
TABRECTA Royalty Revenues$6.3M$6.4M$6.6M$6.5M$7.1M$6M
Other product royalty revenues$333K$1.3M$1.3M$1.9M$3.5M$3.2M

Loss contingences, gross to net deduction percentage (as percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
JAKAFI—7.3%6.6%6.8%—8.4%

Loss contingency accrual

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
JAKAFI$127.6M$145.4M$165.2M$188.9M$218.5M$245.9M

Royalties payable

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
JAKAFI$507.4M$537.1M$18.7M$19.4M$20.3M$16.1M

Royalty payments on future global net sales (as a percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
JAKAVI—14.0%———14.0%

Geographic

Total revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$1.1B$981.6M$1.1B$1.3B$1.4B$1.2B
Europe$88.9M$68.6M$78.8M$100.3M$76M$92.4M
Other countries$2.5M$2.7M$4.4M$4.4M$6.1M$8.8M

Income before provision for income taxes

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$100.4M$392.9M$392.9M$392.9M$392.9M—

PP&E (Net)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$474.1M$469.6M$474.4M$477.1M$406.8M$401.3M
Switzerland$277.6M$282.7M$310.2M$308.1M$309.8M$304.8M
Other countries$11.7M$13M$14M$13.5M$14.3M$14M

Business Segments

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenues$1.2B$1.1B$1.2B$1.4B$1.5B$1.3B
Net Income$201.2M$158.2M$405M$424.2M$299.3M$303.3M
Research and development - internal$249.8M$228.3M$236.7M$250.1M$269.6M$260.2M
Sales and marketing$257.5M$257.7M$256.3M$272.3M$308.5M$259.6M
Research and development - external$213.2M$193.4M$245.7M$256.3M$272.4M$243.1M
Cost of sales (including definite-lived intangible amortization)$88.5M$73.2M$78.8M$99M$121.2M$104.5M
G&A$69.2M$68M$74.7M$56.8M$81.9M$68.5M
Asset impairment and related disposal costs—$0———$23.2M
Other research and development$3M$15.5M$12.6M$100K$69.4M$12.6M
Other segment items$100.3M$47M$125.3M$19.3M$36.6M-$2.2M
(Gain) loss on change in fair value of acquisition-related contingent consideration—$11.6M$22.8M-$12.2M-$28.3M-$168K
Asset impairment$0$19.1M$19.1M$19.1M$19.1M—