INCY

INCYTE CORP

Ticker: INCYIndustrialsProfessional ServicesS&P 500
HQ WILMINGTON, DECIK 879169FY end 12-31Book / share $30.55Shares 208M
Revenue (FY)
$5.14B+21.22%
TTM $5.82B
Op. margin
29.46%+28.02%
TTM 30.56%
Net income
$1.29B+3844.96%
TTM $1.61B
Operating cash
$1.41B+321.52%
TTM $1.98B
Free cash flow
$1.35B+443.87%
TTM $1.92B
Return on equity
26.19%+25.24%
TTM 25.41%
Debt / equity
0.01-0.00%
TTM 0.01
Shares outstanding
200.7M-4.67%
TTM 207.7M

The business

Incyte Corporation (NASDAQ: INCY) is a global biopharmaceutical company engaged in the discovery, development, and commercialization of proprietary therapeutics. The company maintains research and commercial operations across multiple continents, with significant facilities in Wilmington, Delaware, Morges, Switzerland, Tokyo, Japan, and Montreal, Canada. Incyte's website is www.incyte.com.

The company operates across three primary therapeutic areas: Hematology, Oncology, and Inflammation and Autoimmunity. In Hematology, Incyte commercializes JAKAFI (ruxolitinib) for myelofibrosis, polycythemia vera, and graft-versus-host disease, along with ICLUSIG (ponatinib), MONJUVI/MINJUVI (tafasitamab), and NIKTIMVO (axatilimab). The Oncology franchise includes PEMAZYRE (pemigatinib) for cholangiocarcinoma and myeloid/lymphoid neoplasms, and ZYNYZ (retifanlimab) for Merkel cell carcinoma and squamous cell carcinoma of the anal canal. The Inflammation and Autoimmunity segment features OPZELURA (ruxolitinib) cream for atopic dermatitis and vitiligo.

Incyte's business model combines internal drug discovery with strategic collaborations and licensing arrangements. The company maintains exclusive development and commercialization rights to JAKAFI in the United States while licensing ruxolitinib internationally to Novartis under the brand name JAKAVI. Similarly, baricitinib is licensed to Eli Lilly for inflammatory and autoimmune indications, and capmatinib is licensed to Novartis for oncology applications. These arrangements generate milestone payments and royalty revenues.

The company's competitive advantages include proprietary expertise in medicinal chemistry, biologics, and targeted drug discovery, supported by comprehensive in-house capabilities spanning target validation, high-throughput screening, structural biology, and computational drug discovery. Incyte emphasizes a focused pipeline strategy, concentrating resources on selected programs in targeted oncology, myeloid diseases, and dermatology. The company collaborates with academic institutions, contract research organizations, and biotechnology partners to enhance its development capabilities while maintaining control over key therapeutic areas and markets where it believes it can successfully compete.

Sector
Industrials
Industry
Professional Services
HQ
WILMINGTON, DE
FY end
12-31
CIK
879169
SIC
8731
Financial performance · annual
20132025
$-926.41M$913.39M$2.75B$4.59B$6.43B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds INCYTE CORP — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

779
funds hold it
0 of 35
superinvestors hold it
$7.68B
fund-held value
35.3%
of shares held by funds

Top fund holders

Fund% of fundValue
Dodge & Cox Stock Fund
DODGX · Dodge & Cox Funds
0.76%$901.57M
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.03%$611.11M
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.03%$492.77M
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.23%$441.46M
iShares Core S&P 500 ETF
IVV · iShares Trust
0.03%$261.84M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

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