WATCH Incyte Corporation (INCY)
Healthcare · Biotechnology · NMS · United States
52
Final Score
-233.0%
Margin of Safety
83
Quality Score
$99.89
Current Price
$20.0B
Market Cap
Key Metrics
Pe Ratio
14.11
Forward Pe
10.90
Pb Ratio
3.55
Ev Ebitda
10.59
Roe
30.8%
Gross Margin
52.8%
Operating Margin
25.6%
Net Margin
26.7%
Debt To Equity
0.70
Current Ratio
3.68
Beta
0.79
📈 Trend Charts
Revenue Trend
EPS Trend
Net Income Trend
Free Cash Flow Trend
Intrinsic Value Estimates
Low
$24.00
Base
$29.99
High
$35.99
Pipeline Stage Details
Stage A — Hard Filters ✅
Pe Ratio
14.11
Eps Positive Years
4.00
Eps Lookback
4.00
Fcf Positive Years
4.00
Fcf Lookback
4.00
Debt To Equity
0.70
Current Ratio
3.68
Dilution Cagr
-0.04
Stage B — Quality Score: 83/100
Stage C — Cyclicality: HIGH
Normalized EPS
$2.68
Stage F — Final Score Breakdown
| Component | Weighted Score |
|---|---|
| Valuation | 3.0 |
| Earnings Quality | 20.7 |
| Balance Sheet | 15.0 |
| Stability | 4.5 |
| Moat Proxies | 9.0 |
Top Drivers
- Exceptional business quality (score 83/100): consistent profitability, strong returns on capital, and stable margins — hallmarks of a Buffett-style competitive moat.
- Reasonable P/E of 14.1x — below long-run market average (~15-17x), suggesting the stock is not overpriced.
- High ROIC of 49.2% — the business earns well above its cost of capital, indicating a strong competitive advantage and efficient capital allocation (Buffett seeks ROIC > 12%).
- Conservative leverage: D/E ratio of 0.70x is well within Graham's maximum of 1.0x, reducing insolvency risk.
- Strong free cash flow generation — the company converts earnings into real cash effectively, supporting dividends, buybacks, and debt reduction.
Top Risks
- Cyclical business at potentially peak earnings — if the cycle turns, earnings could drop significantly and the stock may become much less cheap than it appears today.
- Quality concern: Operating margin in structural decline
Financial History
| Year | Revenue | Gross Profit | Operating Income | Net Income | EPS |
|---|---|---|---|---|---|
| 2021 | N/A | N/A | N/A | N/A | $N/A |
| 2022 | $3.4B | $3.2B | $591.6M | $340.7M | $1.52 |
| 2023 | $3.7B | $3.4B | $655.4M | $597.6M | $2.65 |
| 2024 | $4.2B | $3.9B | $101.3M | $32.6M | $0.15 |
| 2025 | $5.1B | $4.8B | $1.3B | $1.3B | $6.41 |
Cash Flow History
| Year | Operating CF | CapEx | Free Cash Flow |
|---|---|---|---|
| 2021 | N/A | N/A | N/A |
| 2022 | $969.9M | $-77.8M | $892.1M |
| 2023 | $496.5M | $-47.5M | $449.0M |
| 2024 | $335.3M | $-100.2M | $235.2M |
| 2025 | $1.4B | $-83.9M | $1.3B |