US · Health Care
Incyte (INCY) stock research: earnings, ownership, and cash flow
Incyte operates in the Biotechnology industry within the Health Care sector and is a constituent of the S&P 500. This page connects filing evidence with ownership, insider activity, forecasts, ETFs, and peer context so each dataset can be checked against the others.
Deterministic, source-linked commentary
INCY signals across filings and ownership
The newest reported numbers give INCY a clearer starting point. 10-Q covers CY2026Q1. quarterly revenue was $1.3B; year-over-year growth was 20.9%; operating margin was 23.7%; trailing free cash flow was $967.9M. Read together, these figures test whether scale is translating into profit and cash. Verify periods and company footnotes in the original SEC EDGAR filing.
No single dataset settles the INCY research case. Use institutional ownership, insider filings alongside the filing. Company facts can update before 13F positions, so align every source date and report period before treating a difference as a change in fundamentals.
Business model
Company snapshot
Incyte operates in the Biotechnology industry within the Health Care sector and is a constituent of the S&P 500. The latest standardized snapshot records $4.91B of trailing revenue, $1.54B of net income, and $967.86M of free cash flow. These figures describe the reported company, while valuation and price require a separate market-data timestamp.
Operating lines
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
Geographic revenue mix
The current standardized filing dataset does not extract a comparable geographic revenue table for every issuer. Review the latest 10-K segment note for domestic and international mix, concentration, foreign-exchange sensitivity, and country-specific regulation.
10-Q · 2026-04-28
What the latest filing shows
Revenue for the latest standardized quarter was $1.27B, while diluted EPS was 1.47. Revenue changed 20.9% from the comparable period. Gross margin was 91.8% and operating margin was 23.7%. Margin direction matters because it shows whether growth is translating into operating leverage or requiring more cost to support.
Open original SEC filingCY2026Q1
Earnings analysis
| Period | Revenue | Net income | EPS | Operating margin |
|---|---|---|---|---|
| CY2026Q1 | $1.27B | $303.33M | 1.47 | 23.7% |
| TTM | $4.91B | $1.54B | 6.42 | 30.2% |
| CY2025 | $5.14B | $1.29B | See filing | 29.5% |
The standardized data shows revenue growth of 20.9%, an operating margin of 30.2%, and a net margin of 31.3%. Without a dedicated earnings article, the original filing remains the primary source for management guidance and expectation comparisons.
Health Care
Peer comparison
| Company | TTM revenue | Revenue growth | Operating margin | Tracked holders |
|---|---|---|---|---|
| INCYIncyte | $4.91B | 20.9% | 30.2% | 0 |
| DXCMDexcom | $4.59B | 15% | 18.4% | 0 |
| RMDResMed | $5.48B | 10.8% | 34% | 0 |
| IDXXIdexx Laboratories | $4.35B | 14.3% | 32.3% | 0 |
| STESteris | $5.72B | 9.2% | 18% | 0 |
| COOCooper Companies (The) | $4.17B | 7.9% | 13% | 0 |
| ALGNAlign Technology | $4.03B | 6.2% | 13.2% | 0 |
INCY's 20.9% revenue growth and 30.2% operating margin should be read against peers using the same reporting definitions. A higher margin may reflect pricing power or business mix, while a lower margin can reflect investment, cyclicality, or weaker economics.
10-K · 2026-02-10
Key risk factors disclosed in the latest 10-K
The categories below are a deterministic research checklist anchored to Incyte's industry and latest annual filing. They summarize areas investors should locate in Item 1A; they do not replace the company's exact legal disclosure.
- Demand and product-cycle risk: Biotechnology can experience changing customer demand, replacement cycles, and competitive product launches that affect revenue timing.
- Competition and execution: Market share depends on product quality, pricing, distribution, innovation, and management's ability to convert investment into durable customer demand.
- Supply chain and counterparties: Supplier concentration, logistics disruption, component availability, and customer concentration can affect delivery schedules, costs, and working capital.
- Regulation and litigation: Antitrust, privacy, securities, labor, tax, environmental, and industry-specific rules may change costs or restrict products and business practices.
- Financial and market risk: Foreign exchange, interest rates, credit conditions, investment values, and capital-allocation decisions can affect reported earnings and valuation.
Research workflow
Common research questions about INCY
Who is the largest tracked institutional holder of INCY?
The current tracked-manager sample does not identify an active INCY holder. The INCY ownership page will reflect a matching position when one enters the filing dataset.
What does recent insider activity show for INCY?
No recent Form 4 transaction appears in the current INCY window. Check the INCY Form 4 history for later company-officer or director filings.
What business does Incyte operate?
Incyte operates in the Biotechnology industry within the Health Care sector and is a constituent of the S&P 500. The INCY company snapshot connects that business description with reported revenue, profit, and cash flow.
How does INCY compare with a close operating peer?
INCY's revenue growth is 20.9% and its operating margin is 30.2%. Compare those figures with DXCM research using the same definitions.
What do the latest financials say about INCY?
10-Q reports $4.9B of trailing revenue, with revenue growth of 20.9% and an operating margin of 30.2%. The supporting period and source are listed in the INCY filing section.
How strong is INCY's cash return profile?
Incyte does not show a positive trailing dividend cash outflow in the standardized snapshot, while free cash flow is $967.9M. Review the INCY filing evidence before assessing capital-allocation capacity.
Which reported changes matter most for the INCY outlook?
Without a dedicated forecast, the key INCY evidence is the direction of revenue, margin, cash flow, and company guidance. The INCY earnings section keeps those reported changes together.
Primary and reference data
Sources and methodology
- Filings: SEC EDGAR CompanyFacts, 10-K, 10-Q, 8-K, Form 4, 13F-HR.
- Fundamentals: SEC EDGAR CompanyFacts; market references may use yfinance and Finnhub where explicitly available.
- ETF: Issuer disclosures and the locally dated ETF holdings snapshot.
Methodology: How SnowballHare parses and validates data.
Editorial standards: How research is published.
Disclaimer: Informational only; not investment, legal, or tax advice. Cross-check material facts against original filings before acting.
Reference notes
Data notes
Reporting dates
Use filing dates, report periods, and source links together for INCY. A company filing, a 13F disclosure, a Form 4 transaction, and an earnings release can describe different time windows, so the date beside each row matters before comparing signals.
Ownership context
13F rows are delayed public long-equity snapshots from a selected manager universe. They are useful for seeing which tracked institutions reported exposure, but they do not show every hedge, short position, cash balance, or trade made after the quarter ended.
Insider transactions
Form 4 activity should be read by transaction type, role, value, and remaining ownership. Open-market purchases and sales are different from grants, option exercises, gifts, or tax withholding, and the original SEC filing is still the controlling document.
Earnings and forecasts
Earnings pages and forecast pages are linked when a supported article exists. Treat those pages as context for reported numbers, guidance, margins, and scenario assumptions, then return to the table data when you need the underlying source date or filing trail.