Incyte (INCY) valuation
Incyte P/E ratio history
Incyte trades at 64.0 times its earnings over the last twelve months and 16.2 times the earnings analysts expect over the next twelve. At its last 8 fiscal year ends its P/E ranged from 15.4 (year to Dec 2025) to 460.5 (year to Dec 2024), with a median of 47.7.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Dec 31, 2025 | $98.77 | $6.41 | 15.4 | 13.1 |
| Dec 31, 2024 | $69.07 | $0.15 | 460.5 | 14.1 |
| Dec 31, 2023 | $62.79 | $2.65 | 23.7 | 16.0 |
| Dec 31, 2022 | $80.32 | $1.52 | 52.8 | 30.1 |
| Dec 31, 2021 | $73.40 | $4.27 | 17.2 | 23.9 |
| Dec 31, 2020 | $86.98 | -$1.40 | n/m | — |
| Dec 31, 2019 | $87.32 | $2.05 | 42.6 | — |
| Dec 31, 2018 | $63.59 | $0.51 | 124.7 | — |
| Dec 31, 2017 | $94.71 | -$1.56 | n/m | — |
| Dec 31, 2016 | $100.27 | $0.54 | 185.7 | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
Incyte valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| IncyteINCY | $24.4B | 64.0 | 16.2 | 4.1 |
| InsmedINSM | $24.6B | — | — | 16.2 |
| CibusCBRS | $24.7B | — | — | — |
| BioNTechBNTX | $22.3B | — | — | 7.2 |
| Alnylam PharmaceuticalsALNY | $22.1B | 41.5 | 14.9 | 4.4 |
| ExelixisEXEL | $17.2B | 20.7 | 16.8 | 6.9 |
| BiogenBIIB | $37.5B | 109.3 | 16.6 | 3.6 |
| ModernaMRNA | $88.0B | — | — | 39.5 |
| RegeneronREGN | $97.3B | 23.0 | 17.2 | 6.3 |
| Peer median | 32.2 | 16.7 | 6.9 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: INCY financials · INCY returns
No forecast, no recommendation. This page describes Incyte from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.