🚀 VC round data is live in beta, check it out!
Incyte Valuation Multiples
Discover revenue and EBITDA valuation multiples for Incyte and similar public comparables like Innovent Biologics, Revolution Medicines, Shionogi, Sichuan Biokin and more.
Incyte Overview
About Incyte
Incyte focuses on the discovery and development of small-molecule drugs. The firm's leading drug, Jakafi, treats two types of rare blood cancer and graft versus host disease and is partnered with Novartis. Incyte's other marketed drugs include rheumatoid arthritis treatment Olumiant (licensed to Lilly), and oncology drugs Iclusig (chronic myeloid leukemia), Pemazyre (cholangiocarcinoma), Tabrecta (lung cancer), and Monjuvi (diffuse large B-cell lymphoma). The firm's first dermatology product, Opzelura, was approved in 2021 for atopic dermatitis and 2022 for vitiligo. Incyte's pipeline includes an array of oncology and dermatology programs.
Founded
1991
HQ
Employees
2.8K
Website
Sectors
Financials (LTM)
EV
$16B
Incyte Financials
Incyte reported last 12-month revenue of $5B and EBITDA of $2B.
In the same LTM period, Incyte generated $5B in gross profit, $2B in EBITDA, and $1B in net income.
Revenue (LTM)
Incyte P&L
In the most recent fiscal year, Incyte reported revenue of $5B and EBITDA of $2B.
Incyte expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $5B | XXX | $5B | XXX | XXX | XXX |
| Gross Profit | $5B | XXX | $5B | XXX | XXX | XXX |
| Gross Margin | 93% | XXX | 93% | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 31% | XXX | 34% | XXX | XXX | XXX |
| EBIT Margin | 32% | XXX | 31% | XXX | XXX | XXX |
| Net Profit | $1B | XXX | $1B | XXX | XXX | XXX |
| Net Margin | 27% | XXX | 27% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Incyte Stock Performance
Incyte has current market cap of $19B, and enterprise value of $16B.
Market Cap Evolution
Incyte's stock price is $96.96.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $16B | $19B | 1.1% | XXX | XXX | XXX | $6.86 |
Benchmark Trading Valuation Multiples by Industry
Sign up to access valuation multiples like growth-adjusted P/E, Rule of 40, next 12-month EV/Revenue, EBITDA multiples by industry, consensus analyst estimates and many more.
Start Free TrialIncyte Valuation Multiples
Incyte trades at 3.0x EV/Revenue multiple, and 9.8x EV/EBITDA.
EV / Revenue (LTM)
Incyte Financial Valuation Multiples
As of April 11, 2026, Incyte has market cap of $19B and EV of $16B.
Equity research analysts estimate Incyte's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Incyte has a P/E ratio of 13.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $19B | XXX | $19B | XXX | XXX | XXX |
| EV (current) | $16B | XXX | $16B | XXX | XXX | XXX |
| EV/Revenue | 3.0x | XXX | 3.1x | XXX | XXX | XXX |
| EV/EBITDA | 9.8x | XXX | 9.0x | XXX | XXX | XXX |
| EV/EBIT | 9.5x | XXX | 9.8x | XXX | XXX | XXX |
| EV/Gross Profit | 3.2x | XXX | 3.3x | XXX | XXX | XXX |
| P/E | 13.6x | XXX | 14.1x | XXX | XXX | XXX |
| EV/FCF | 10.8x | XXX | 11.5x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Incyte Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Incyte Margins & Growth Rates
Incyte's revenue in the last 12 month grew by 9%.
Incyte's revenue per employee in the last FY averaged $1.8M, while opex per employee averaged $1.2M for the same period.
Incyte's rule of 40 is 38% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Incyte's rule of X is 50% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Incyte Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 9% | XXX | 8% | XXX | XXX | XXX |
| EBITDA Margin | 31% | XXX | 34% | XXX | XXX | XXX |
| EBITDA Growth | 5% | XXX | (7%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 38% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 50% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.8M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $1.2M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 24% | XXX | 27% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 37% | XXX | 40% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 67% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Incyte Public Comps
See public comps and valuation multiples for other Biopharmaceuticals comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Innovent Biologics | XXX | XXX | XXX | XXX | XXX | XXX |
| Revolution Medicines | XXX | XXX | XXX | XXX | XXX | XXX |
| Shionogi | XXX | XXX | XXX | XXX | XXX | XXX |
| Sichuan Biokin | XXX | XXX | XXX | XXX | XXX | XXX |
| Moderna | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Incyte M&A Activity
Incyte acquired XXX companies to date.
Last acquisition by Incyte was on XXXXXXXX, XXXXX. Incyte acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Incyte
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
Sign up to see revenue and EBITDA valuation multiples for 150K+ M&A deals.
Start Free TrialIncyte Investment Activity
Incyte invested in XXX companies to date.
Incyte made its latest investment on XXXXXXXX, XXXXX. Incyte invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Incyte
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAbout Incyte
| When was Incyte founded? | Incyte was founded in 1991. |
| Where is Incyte headquartered? | Incyte is headquartered in United States. |
| How many employees does Incyte have? | As of today, Incyte has over 2K employees. |
| Who is the CEO of Incyte? | Incyte's CEO is William Meury. |
| Is Incyte publicly listed? | Yes, Incyte is a public company listed on Nasdaq. |
| What is the stock symbol of Incyte? | Incyte trades under INCY ticker. |
| When did Incyte go public? | Incyte went public in 1993. |
| Who are competitors of Incyte? | Incyte main competitors are Innovent Biologics, Revolution Medicines, Shionogi, Sichuan Biokin. |
| What is the current market cap of Incyte? | Incyte's current market cap is $19B. |
| What is the current revenue of Incyte? | Incyte's last 12 months revenue is $5B. |
| What is the current revenue growth of Incyte? | Incyte revenue growth (NTM/LTM) is 9%. |
| What is the current EV/Revenue multiple of Incyte? | Current revenue multiple of Incyte is 3.0x. |
| Is Incyte profitable? | Yes, Incyte is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Incyte? | Incyte's last 12 months EBITDA is $2B. |
| What is Incyte's EBITDA margin? | Incyte's last 12 months EBITDA margin is 31%. |
| What is the current EV/EBITDA multiple of Incyte? | Current EBITDA multiple of Incyte is 9.8x. |
| What is the current FCF of Incyte? | Incyte's last 12 months FCF is $1B. |
| What is Incyte's FCF margin? | Incyte's last 12 months FCF margin is 28%. |
| What is the current EV/FCF multiple of Incyte? | Current FCF multiple of Incyte is 10.8x. |
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.