Question 1

What is Incyte's P/E ratio?

Accepted Answer

Incyte (INCY) P/E ratio is 14.8× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Incyte?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Incyte specifically, the relevant sector benchmark is the current sector median of 25.0×.

Question 5

Is Incyte's P/E ratio high or low?

Accepted Answer

Incyte's P/E ratio of 14.8× is below its own 5-year average of 95.6× and below the sector median of 25.0×. That places the current reading at the 3th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Incyte's historical P/E ratio range?

Accepted Answer

In the available daily series, Incyte (INCY) P/E ratio has ranged from a low of 13.3× in 2026 to a high of 3094.0× in 2015. The 5-year average is 95.6× and the 5-year median is 26.0×.

Question 7

What was Incyte's P/E ratio in 2025?

Accepted Answer

Incyte (INCY) P/E ratio at the end of 2025 was 15.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Incyte's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$19.50B	$1.29B	15.2×	-393.9×	Dec 31, 2025
2024	$13.34B	$32.62M	409.0×	+385.5×	Dec 31, 2024
2023	$14.08B	$597.60M	23.6×	-28.9×	Dec 31, 2023
2022	$17.88B	$340.66M	52.5×	+35.4×	Dec 31, 2022
2021	$16.22B	$948.58M	17.1×	—	Dec 31, 2021
2020	$19.07B	−$295.70M	—	—	Dec 31, 2020
2019	$18.84B	$446.91M	42.2×	-81.6×	Dec 31, 2019
2018	$13.55B	$109.49M	123.7×	—	Dec 31, 2018
2017	$20.00B	−$313.14M	—	—	Dec 31, 2017
2016	$18.91B	$104.22M	181.4×	-2912.6×	Dec 31, 2016
2015	$20.20B	$6.53M	3094.0×	—	Dec 31, 2015
2014	$12.41B	−$48.48M	—	—	Dec 31, 2014
2013	$8.20B	−$83.15M	—	—	Dec 31, 2013
2012	$2.19B	−$44.32M	—	—	Dec 31, 2012
2011	$1.90B	−$186.54M	—	—	Dec 31, 2011
2010	$2.04B	−$31.84M	—	—	Dec 31, 2010
2009	$1.08B	−$211.87M	—	—	Dec 31, 2009
2008	$368.70M	−$178.92M	—	—	Dec 31, 2008
2007	$848.29M	−$86.88M	—	—	Dec 31, 2007
2006	$490.16M	−$74.17M	—	—	Dec 31, 2006
2005	$446.66M	−$103.04M	—	—	Dec 31, 2005
2004	$792.43M	−$164.82M	—	—	Dec 31, 2004
2003	$495.28M	−$166.46M	—	—	Dec 31, 2003
2002	$308.11M	−$136.88M	—	—	Dec 31, 2002
2001	$1.29B	−$183.24M	—	—	Dec 31, 2001


Agilent Technologies (A)	23.1×
Medtronic (MDT)	22.2×
McKesson (MCK)	22.2×
Illumina (ILMN)	21.7×
ResMed (RMD)	21.6×
GE HealthCare (GEHC)	21.6×
Pfizer (PFE)	21.1×
Quest Diagnostics (DGX)	21.1×
Henry Schein (HSIC)	21.0×
AptarGroup (ATR)	20.9×
IQVIA (IQV)	20.7×
UnitedHealth Group (UNH)	20.4×
Biogen (BIIB)	19.7×
Zoetis (ZTS)	18.9×
Gilead Sciences (GILD)	18.8×
Humana (HUM)	18.5×
Regeneron Pharmaceuticals (REGN)	18.2×
Bristol-Myers Squibb (BMY)	17.0×
HCA Healthcare (HCA)	15.8×
DaVita (DVA)	13.3×
Elevance Health (ELV)	12.3×
Cigna (CI)	11.1×
Novo Nordisk (NVO)	8.6×
Solventum (SOLV)	7.9×
Universal Health Services (UHS)	7.2×

P/E Ratio for Incyte (INCY)

P/E Ratio daily chart for Incyte (INCY)

Historical P/E Ratio for Incyte (INCY) from 2001 to 2025

About P/E Ratio at Incyte (INCY)

Incyte P/E Ratio by Year

Incyte P/E Ratio 2025: 15.2×

Incyte P/E Ratio 2024: 409.0×

Incyte P/E Ratio 2023: 23.6×

Incyte P/E Ratio 2022: 52.5×

Incyte P/E Ratio 2021: 17.1×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Incyte (INCY) Key Financials

P/E Ratio daily chart for Incyte (INCY)

Historical P/E Ratio for Incyte (INCY) from 2001 to 2025

About P/E Ratio at Incyte (INCY)

Incyte P/E Ratio by Year

Incyte P/E Ratio 2025: 15.2×

Incyte P/E Ratio 2024: 409.0×

Incyte P/E Ratio 2023: 23.6×

Incyte P/E Ratio 2022: 52.5×

Incyte P/E Ratio 2021: 17.1×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is Incyte's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for Incyte?

+Is Incyte's P/E ratio high or low?

+What is Incyte's historical P/E ratio range?

+What was Incyte's P/E ratio in 2025?

+Why does Incyte's P/E ratio change over time?

Incyte (INCY) Key Financials