INCYTE CORP

10-K & 10-Q Filings

Incyte Corporation is a biopharmaceutical company. Its business strategy focuses on the discovery, development, and commercialization of proprietary therapeutics, primarily in the oncology and inflammation fields. The company's segments include Oncology and Inflammation. Incyte's website is <https://www.incyte.com>, and its ticker symbol is INCY on The Nasdaq Global Select Market. The company filed an amended Form 10-K to correct an administrative error regarding the filing of Exhibit 97.1, Incyte Corporation Policy for Recoupment of Erroneously Awarded Compensation. The correct document is attached as Exhibit 97.1 to the amended filing. No changes were made to the financial statements or other disclosures in the original Form 10-K. Incyte has filed new certifications by its principal executive officer and principal financial officer under Section 302 of the Sarbanes-Oxley Act. The company's market value of common stock held by non-affiliates was approximately $1 billion as of June 30, 2023, and there were approximately 111.4 million shares of common stock outstanding as of February 6, 2024. The auditor for the company is PwC.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$94.45
297.06
354.95
511.50
753.75
1105.72
1536.22
1881.88
2158.76
2666.70
2986.27
3394.64
3695.65
808.67
880.89
35.74%8.93%Cost of Revenue (-)
$
0.16
0.63
3.00
26.97
58.19
79.48
94.12
114.25
131.33
150.99
207.00
254.99
56.82
60.96
7.28%Gross Profit (+)
$
296.90
354.32
508.49
726.78
1047.53
1456.74
1787.76
2044.51
2535.37
2835.28
3187.64
3440.66
751.85
819.93
9.06%Selling, General & Administrative (-)
$58.22
85.36
109.98
165.77
196.61
303.25
366.41
434.41
468.71
516.92
739.56
1002.14
1161.29
315.61
300.26
28.33%-4.86%Research & Development (-)
$178.71
210.39
260.44
347.52
479.51
581.86
1326.36
1197.96
1154.11
2215.94
1458.18
1585.94
1627.59
406.64
429.26
20.21%5.56%Operating Expenses (-)
$237.64
295.75
370.42
513.30
676.13
902.53
1692.77
1658.54
1642.50
2799.05
2249.50
2588.08
2820.13
722.25
729.52
22.89%1.01%Costs & Expenses (Total) (-)
$237.64
295.91
371.05
516.30
703.10
960.72
1779.95
1752.66
1756.75
2930.38
2400.49
2815.20
3075.12
783.90
788.99
23.78%0.65%Operating Income/Loss (+)
$-143.18
1.15
-16.10
-4.80
50.65
145.00
-243.73
129.22
402.01
-263.68
585.78
579.44
620.52
24.77
91.90
271.01%Non-operating Income/Expense (+)
$0.46
0.76
1.32
3.35
7.09
4.41
17.50
31.76
52.18
23.21
10.65
39.93
172.35
32.87
44.74
63.80%36.11%Interest Expense (-)
$43.82
46.06
38.65
46.83
45.60
38.74
6.90
1.54
1.85
2.17
1.91
2.67
2.55
0.47
0.43
-21.10%-8.32%Earnings before Tax (+)
$-186.54
-44.15
-82.85
-48.55
7.56
107.40
-312.29
115.35
486.79
-232.22
570.44
529.12
834.22
51.86
236.16
355.41%Tax Expense (-)
$
0.17
0.30
-0.07
1.02
3.18
0.85
5.85
39.88
63.48
-378.14
188.46
236.62
30.15
66.61
120.91%Income/Loss (Continuing Operations) (+)
$-186.54
-44.32
-83.15
-48.48
6.53
104.22
-313.14
109.49
446.91
-295.70
948.58
340.66
597.60
21.70
169.55
681.22%Net Income/Loss (+)
$-186.54
-44.32
-83.15
-48.48
6.53
104.22
-313.14
109.49
446.91
-295.70
948.58
340.66
597.60
21.70
169.55
681.22%Net Income/Loss (Common) (+)
$-186.54
-44.32
-83.15
-48.48
6.53
104.22
-313.14
109.49
446.91
-295.70
948.58
340.66
597.60
21.70
169.55
681.22%EPS (Basic)
$-1.49
-0.34
-0.56
-0.29
0.04
0.55
-1.53
0.52
2.08
-1.36
4.30
1.53
2.67
0.10
0.76
660.00%EPS (Diluted)
$-1.49
-0.34
-0.56
-0.29
0.03
0.54
-1.53
0.51
2.05
-1.36
4.27
1.52
2.65
0.10
0.75
650.00%Weighted Avg Shares (Basic)
125.36
133.90
148.40
167.95
179.60
187.87
204.58
212.38
214.91
218.07
220.43
222.00
223.63
222.96
224.48
4.94%0.68%Weighted Avg Shares (Diluted)
125.36
148.40
167.95
187.30
194.13
204.58
215.63
217.66
218.07
222.07
223.96
225.93
225.59
227.22
5.03%0.72%Cash
$292.46
224.06
471.93
452.80
521.95
652.36
899.51
1163.98
1832.68
1513.01
2057.44
2951.42
3213.38
2821.05
3346.20
22.11%18.62%Short-term Investments
$4.43
4.36
37.58
147.97
186.34
156.20
270.14
274.34
284.87
288.37
290.75
287.54
442.67
291.66
504.48
46.77%72.97%Receivables
$6.42
70.95
35.37
57.93
114.45
148.76
266.30
307.60
308.81
481.99
616.30
644.88
743.56
623.79
745.53
48.60%19.52%Inventory
$
0.28
0.41
0.36
1.78
4.11
6.48
6.97
11.40
16.43
27.90
41.99
62.97
40.88
63.64
55.70%Prepaid Expenses (Current)
$7.47
9.87
9.62
20.52
17.84
32.75
62.43
79.37
43.73
60.10
126.28
167.01
182.83
194.26
189.24
30.53%-2.59%Other Assets (Current)
$
0.90
19.64
Assets (Current)
$310.78
309.51
555.80
699.21
842.38
994.18
1504.85
1832.25
2481.49
2359.89
3118.67
4092.85
4645.40
3971.63
4849.09
25.28%22.09%Securities & Long-term Investments
$
14.50
14.00
49.22
32.87
135.28
100.20
134.68
224.06
222.99
135.37
189.56
130.03
289.29
122.48%Property, Plant & Equipment (Net)
$6.43
6.35
26.85
81.79
86.01
167.68
259.76
319.75
406.63
588.08
751.47
765.61
777.05
767.55
745.53
49.11%-2.87%Goodwill & Intangibles
$
15.99
12.28
414.03
392.49
370.96
349.42
327.88
306.35
284.81
279.14
296.25
273.43
-7.70%Other Assets
$11.75
14.56
32.42
19.08
17.55
29.84
10.19
22.59
54.54
61.01
533.88
562.34
890.96
632.16
978.26
43.43%54.75%Assets (Non-current)
$18.18
20.91
73.77
130.86
165.06
644.42
797.73
813.51
945.26
1201.02
1814.68
1748.13
2136.70
1825.99
2286.51
48.77%25.22%Assets (Total)
$328.96
330.42
629.57
830.07
1007.44
1638.60
2302.58
2645.76
3426.75
3560.92
4933.35
5840.98
6782.11
5797.62
7135.60
28.68%23.08%Accounts Payable
$66.31
70.00
95.15
123.00
155.50
126.70
341.15
393.43
460.33
590.51
814.67
1117.36
1198.52
965.79
1355.62
27.28%40.36%Debt (Current)
$
85.64
7.39
18.96
2.28
2.63
3.18
3.44
3.15
3.68
16.80%Other Liabilities (Current)
$69.30
66.08
12.89
12.88
12.51
146.80
26.85
31.84
34.04
38.40
37.01
36.54
38.42
37.17
37.16
-4.80%-0.02%Liabilities (Current)
$135.61
136.07
108.04
221.51
168.01
273.50
375.40
425.28
513.34
631.20
854.31
1157.08
1240.38
1006.11
1396.45
20.26%38.80%Debt (Non-current)
$316.15
331.08
661.57
603.48
619.89
651.48
16.61
17.43
31.92
32.57
31.63
30.08
29.16
29.70
28.93
-18.01%-2.58%Other Liabilities
$104.27
38.23
53.07
86.70
48.38
294.15
279.95
277.08
283.09
285.88
277.41
283.70
322.73
299.25
315.95
9.87%5.58%Liabilities (Non-current)
$420.42
369.30
714.63
690.18
668.28
945.63
296.56
294.52
315.00
318.45
309.04
313.79
351.89
328.94
344.88
-1.47%4.84%Liabilities (Total)
$556.04
505.38
822.68
911.70
836.28
1219.13
671.95
719.79
828.34
949.65
1163.35
1470.87
1592.27
1335.06
1741.33
9.16%30.43%Retained Earnings
$-1609.57
-1653.89
-1737.04
-1785.52
-1778.99
-1674.77
-1990.01
-1877.76
-1430.76
-1726.45
-777.87
-437.21
160.38
-415.51
329.93
179.40%AOCI
$1.64
1.88
1.99
1.81
-0.81
-2.89
-7.01
-10.16
-15.54
-15.36
-19.45
15.07
13.11
20.94
-6.17
18.90%-129.47%Shareholder's Equity
$-227.08
-174.96
-193.11
-81.63
171.16
419.47
1630.63
1925.97
2598.41
2611.27
3770.00
4370.12
5189.84
4462.57
5394.27
20.88%Liabilities & Equity
$328.96
330.42
629.57
830.07
1007.44
1638.60
2302.58
2645.76
3426.75
3560.92
4933.35
5840.98
6782.11
5797.62
7135.60
28.68%23.08%Net Income/Loss
$-186.54
-44.32
-83.15
-48.48
6.53
104.22
-313.14
109.49
446.91
-295.70
948.58
340.66
597.60
21.70
169.55
681.22%Depreciation & Amortization
$26.99
29.98
29.21
41.41
44.88
58.42
52.18
54.97
54.53
51.81
57.84
67.86
82.66
19.21
21.95
9.78%14.24%Increase/Decrease in Working Capital
$31.25
118.43
4.48
29.12
34.85
-24.75
64.23
47.00
-56.92
72.09
480.17
-255.90
407.55
208.76
-64.99
23.87%-131.13%Share-based Compensation
$28.98
38.49
38.40
62.16
69.87
96.20
133.06
148.15
166.59
177.88
183.01
188.42
215.89
53.38
59.78
18.22%11.99%Adjustments to Reconcile Net Income
$24.82
-50.51
92.33
74.74
80.00
199.59
220.15
226.73
263.75
171.10
-199.09
629.28
-101.11
-127.31
49.26
138.70%Net Cash (Operating)
$-161.72
-94.83
9.18
26.26
86.54
304.76
-92.99
336.23
710.66
-124.60
749.49
969.94
496.49
-105.60
218.81
307.20%Capital Expenditure
$3.80
-2.84
15.01
59.37
26.00
263.13
111.02
73.48
78.06
187.38
181.01
77.83
47.49
26.91
9.55
23.43%-64.51%Net Cash (Investing)
$-2.50
-1.99
-37.40
-138.44
-105.01
-232.49
-349.98
-86.42
-87.45
-269.00
-207.70
-78.54
-207.68
-28.56
-73.11
-156.00%Increase/Decrease in Debt
$
1213.69
0.20
-1.69
13.58
-0.04
-0.82
-0.84
-2.42
-2.86
-3.36
-0.80
-0.87
-8.60%Increase/Decrease in Equity
$19.47
47.71
73.16
92.84
86.44
49.97
716.15
29.94
63.30
110.31
58.63
61.12
35.84
13.99
0.48
5.22%-96.59%Interest Expenses
$19.00
19.00
15.59
10.46
12.75
7.22
0.31
0.27
0.24
0.19
0.40
Net Cash (Financing)
$19.47
47.71
275.59
93.06
87.62
58.65
690.17
14.66
45.71
71.71
6.18
-0.79
-20.03
4.01
-12.41
-409.63%Cash Taxes Paid
$
0.00
0.14
0.04
0.06
0.93
6.30
5.42
33.55
70.71
67.73
136.24
378.21
7.11
2.69
-62.14%Effect of Exchange Rate
$
-0.01
-0.04
0.09
-0.19
2.95
-3.57
3.35
-6.68
-0.20
-0.68
-239.70%Increase/Decrease in Cash
$-144.75
-49.11
247.37
-19.13
69.14
130.90
247.17
264.55
668.72
-318.94
544.39
893.96
262.10
-130.35
132.61
201.73%Cash (Beginning)
$417.91
273.16
224.06
471.43
452.30
521.44
652.34
900.43
1164.99
1833.71
1514.77
2059.16
2953.12
2953.12
3215.22
17.70%8.88%Cash (Ending)
$273.16
224.06
471.43
452.30
521.44
652.34
899.51
1164.99
1833.71
1514.77
2059.16
2953.12
3215.22
2822.77
3347.83
22.81%18.60%NOPAT
$
1.15
-16.07
-4.81
50.24
143.75
-238.81
123.15
374.30
-183.38
974.08
430.24
339.20
21.38
90.85
325.03%Gross Margin %
99.95%
99.82%
99.41%
96.42%
94.74%
94.83%
95.00%
94.71%
95.08%
94.94%
93.90%
93.10%
92.97%
93.08%
Operating Margin %
-151.59%
0.39%
-4.54%
-0.94%
6.72%
13.11%
-15.87%
6.87%
18.62%
-9.89%
19.62%
17.07%
16.79%
3.06%
10.43%
NOPAT Margin %
0.39%
-4.53%
-0.94%
6.66%
13.00%
-15.55%
6.54%
17.34%
-6.88%
32.62%
12.67%
9.18%
2.64%
10.31%
Net Margin %
-197.49%
-14.92%
-23.43%
-9.48%
0.87%
9.43%
-20.38%
5.82%
20.70%
-11.09%
31.76%
10.04%
16.17%
2.68%
19.25%
Tax Rate %
0.00%
0.17%
-0.14%
0.82%
0.86%
2.02%
4.70%
6.89%
30.45%
-66.29%
25.75%
45.34%
13.71%
1.14%
ROA
0.35%
-2.55%
-0.58%
4.99%
8.77%
-10.37%
4.65%
10.92%
-5.15%
19.74%
7.37%
5.00%
0.37%
1.27%
ROE
-0.66%
8.32%
5.89%
29.35%
34.27%
-14.65%
6.39%
14.40%
-7.02%
25.84%
9.85%
6.54%
0.48%
1.68%
ROIC
8.13%
-261.56%
-4.89%
34.41%
21.21%
-30.36%
14.26%
43.60%
-16.21%
75.29%
38.83%
28.33%
2.10%
12.42%
Asset Turnover
0.29
0.90
0.56
0.62
0.75
0.67
0.67
0.71
0.63
0.75
0.61
0.58
0.54
0.14
0.12
Inventory Turnover
0.56
1.55
8.39
15.13
14.17
12.26
13.51
10.02
8.00
5.41
4.93
4.05
1.39
0.96
Equity Multiplier
-1.45
-1.89
-3.26
-10.17
5.89
3.91
1.41
1.37
1.32
1.36
1.31
1.34
1.31
1.30
1.32
Current Ratio
2.29
2.27
5.14
3.16
5.01
3.64
4.01
4.31
4.83
3.74
3.65
3.54
3.75
3.95
3.47
Quick Ratio
2.24
2.20
5.04
2.97
4.90
3.50
3.83
4.11
4.73
3.62
3.47
3.36
3.55
3.71
3.29
Debt/Equity Ratio
-1.39
-1.89
-3.43
-8.44
3.62
1.55
0.01
0.01
0.02
0.01
0.01
0.01
0.01
0.01
0.01
Interest Coverage Ratio
-7.54
0.06
-1.03
-0.46
3.97
20.09
-776.22
482.18
1682.03
-1359.15
1479.23
Working Capital/Sales
-0.82
0.03
-0.06
0.00
0.06
0.09
0.09
0.09
0.05
0.08
0.08
0.02
0.04
-0.06
-0.33
R&D/Sales
1.89
0.71
0.73
0.68
0.64
0.53
0.86
0.64
0.53
0.83
0.49
0.47
0.44
0.50
0.49
Total Payout
$-0.47
-28.71
-1271.26
-82.59
-72.00
-56.33
-715.80
-29.67
-62.24
-109.28
-55.81
-58.25
-32.48
-13.19
0.39
102.99%Payout Ratio %
-2501.01%
-7908.41%
-1716.78%
-143.32%
-39.19%
-299.73%
-24.09%
-16.63%
-59.59%
-5.73%
-13.54%
-9.57%
-61.69%
0.43%