INCYTE CORP
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | – | – |
| Stockholders' equity | 5,167 | 100.0 |
| Total capitalization | 5,167 | 100.0 |
199,782,155 shares outstanding at 21 April 2026 (cover page of the 10-Q filed 28 April 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Not tagged in XBRL |
CAPITAL STOCK 12/31/25
| Common shares authorized | 400,000,000 |
| Common shares issued | 198,460,009 |
| Par or stated value per share ($) | 0.001 |
| Preferred stock ($ millions) | 0 |
| Outstanding at 4/21/26 | 199,782,155 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | – | – |
| 2024 | – | – |
| 2023 | – | – |
| 2022 | – | – |
| 2021 | – | – |
HISTORY AND BUSINESS
HISTORY: Incorporated in Delaware. Formerly known as INCYTE INC (to 28 March 2003); INCYTE GENOMICS INC (to 25 February 2003); INCYTE PHARMACEUTICALS INC (to 18 April 2000).
BUSINESS: Classified by the SEC under Standard Industrial Classification 8731, Services-Commercial Physical & Biological Research. Large accelerated filer. Principal executive office: 1801 Augustine Cut-Off, Wilmington, DE 19803. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Revenues | 5,141 | 4,241 | 3,696 |
| Cost of revenues | 372 | 312 | 255 |
| Research and development | 2,050 | 2,607 | 1,628 |
| Selling, general and administrative | 1,376 | 1,242 | 1,156 |
| Depreciation and amortization | 93 | 89 | 83 |
| Operating income | 1,515 | 61 | 621 |
| Interest expense | 2 | 2 | 3 |
| Income before income taxes | 1,664 | 317 | 834 |
| Income taxes | 378 | 284 | 237 |
| Net income | 1,287 | 33 | 598 |
| Earned per share, diluted ($) | 6.41 | 0.15 | 2.65 |
| Dividends per share ($) | – | – | – |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Cash and equivalents | 3,098 | 1,688 |
| Inventories | 101 | 59 |
| Total current assets | 5,024 | 3,239 |
| Property, plant and equipment, net | 731 | 763 |
| Goodwill | 133 | 156 |
| Total assets | 6,958 | 5,444 |
| Total current liabilities | 1,515 | 1,642 |
| Total liabilities | 1,790 | 1,997 |
| Stockholders' equity | 5,167 | 3,448 |
| Total liabilities and equity | 6,958 | 5,444 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 5,141 | 1,515 | 1,287 | 25.0 | 6.41 | – | 1,413 | – | – | 6,958 | 1,790 | – | 5,167 | 24.9 | – |
| 12/31/24 | 4,241 | 61 | 33 | 0.8 | 0.15 | – | 335 | – | – | 5,444 | 1,997 | – | 3,448 | 0.9 | – |
| 12/31/23 | 3,696 | 621 | 598 | 16.2 | 2.65 | – | 496 | – | – | 6,782 | 1,592 | – | 5,190 | 11.5 | – |
| 12/31/22 | 3,395 | 579 | 341 | 10.0 | 1.52 | – | 970 | 78 | 892 | 5,841 | 1,471 | – | 4,370 | 7.8 | – |
| 12/31/21 | 2,986 | 586 | 949 | 31.8 | 4.27 | – | 749 | 181 | 568 | 4,933 | 1,163 | – | 3,770 | 25.2 | – |
| 12/31/20 | 2,667 | (264) | (296) | -11.1 | (1.36) | – | (125) | 187 | (312) | 3,561 | 950 | – | 2,611 | -11.3 | – |
| 12/31/19 | 2,159 | 402 | 447 | 20.7 | 2.05 | – | 711 | 78 | 633 | 3,427 | 828 | – | 2,598 | 17.2 | – |
| 12/31/18 | 1,882 | 129 | 109 | 5.8 | 0.51 | – | 336 | 73 | 263 | 2,646 | 720 | 19,094 | 1,926 | 5.7 | 9.91 |
| 12/31/17 | 1,536 | (243) | (313) | -20.4 | (1.53) | – | (93) | 111 | (204) | 2,303 | 672 | 27 | 1,631 | -19.2 | 0.02 |
| 12/31/16 | 1,106 | 145 | 104 | 9.4 | 0.54 | – | 305 | 120 | 184 | 1,639 | 1,219 | 750 | 419 | 24.8 | 1.79 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
INCYTE CORP
CIK 879169 · EIN 94-3136539
PRINCIPAL OFFICE:
1801 Augustine Cut-Off, Wilmington, DE 19803
Tel.: 3024986700
INCORPORATED:
Delaware
INDUSTRY (SEC SIC CODE):
8731 · Services-Commercial Physical & Biological Research
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 10 February 2026
FORMER NAMES:
INCYTE INC; INCYTE GENOMICS INC; INCYTE PHARMACEUTICALS INC
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/10/26) · 10-K FY2024 (filed 2/10/25) · 10-K FY2023 (filed 2/13/24) · 10-K FY2022 (filed 2/7/23) · 10-K FY2021 (filed 2/8/22) · 10-K FY2020 (filed 2/9/21) · 10-K FY2019 (filed 2/13/20) · 10-K FY2018 (filed 2/14/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.