INCYTE CORP
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $5.1B | $4.2B | $3.7B | $3.4B | $3.0B |
| Cost of revenue | $372.1M | $312.1M | $255.0M | $207.0M | $151.0M |
| Selling, general & administrative | $1.4B | $1.2B | $1.2B | $1.0B | $739.6M |
| Research and development | $2.1B | $2.6B | $1.6B | $1.6B | $1.5B |
| Operating income | $1.5B | $61.4M | $620.5M | $579.4M | $585.8M |
| Interest expense | $2.4M | $2.3M | $2.6M | $2.7M | $1.9M |
| Pretax income | $1.7B | $316.6M | $834.2M | $529.1M | $570.4M |
| Income tax expense | $377.8M | $284.0M | $236.6M | $188.5M | -$378.1M |
| Net income | $1.3B | $32.6M | $597.6M | $340.7M | $948.6M |
| Balance Sheet | |||||
| Cash and equivalents | $3.1B | $1.7B | $3.2B | $3.0B | $2.1B |
| Current assets | $5.0B | $3.2B | $4.6B | $4.1B | $3.1B |
| Total assets | $7.0B | $5.4B | $6.8B | $5.8B | $4.9B |
| Current liabilities | $1.5B | $1.6B | $1.2B | $1.2B | $854.3M |
| Total liabilities | $1.8B | $2.0B | $1.6B | $1.5B | $1.2B |
| Stockholders' equity | $5.2B | $3.4B | $5.2B | $4.4B | $3.8B |
| Cash Flow Statement | |||||
| Cash from operations | $1.4B | $335.3M | $496.5M | $969.9M | $749.5M |
| Depreciation and amortization | $93.3M | $89.2M | $82.7M | $67.9M | $57.8M |
| Stock-based compensation | $249.3M | $266.1M | $215.9M | $188.4M | $183.0M |
| Capital expenditure | $4.9M | $2.6M | $5.1M | $77.8M | $181.0M |
| Free cash flow | $1.4B | $332.7M | $491.4M | $892.1M | $568.5M |
| Share repurchases | $0 | $2.0B | $0 | $0 | — |
| Impairments | $76.3M | $0 | $5.6M | — | — |
Shares outstanding 199.8M · Free float 68.3%
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.