Company Valuation: Incyte Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 16,213 17,869 14,072 13,306 19,391 23,371 - -
Change - 10.21% -21.25% -5.44% 45.73% 20.53% - -
Enterprise Value (EV) 1 13,865 14,630 10,416 11,148 16,293 19,095 17,410 15,438
Change - 5.52% -28.81% 7.03% 46.15% 17.2% -8.82% -11.33%
P/E 17.2x 52.8x 23.7x 460x 15.4x 54x 15.9x 14.8x
PBR 4.32x 4.09x 2.71x 3.88x 3.79x 4.02x 3.03x 2.4x
PEG - -0.8x 0.3x -4.9x 0x -0.8x 0x 1.87x
Capitalization / Revenue 5.43x 5.26x 3.81x 3.14x 3.77x 3.93x 3.73x 3.56x
EV / Revenue 4.64x 4.31x 2.82x 2.63x 3.17x 3.21x 2.78x 2.35x
EV / EBITDA 21.5x 24.5x 14.8x 22.2x 9.53x 24.7x 8.23x 7.48x
EV / EBIT 23.7x 25.2x 16.8x 26.9x 10.1x 22.1x 7.69x 6.11x
EV / FCF 24.4x 16.4x 22.4x 44.8x - 30.6x 10.6x 8.82x
FCF Yield 4.1% 6.1% 4.45% 2.23% - 3.27% 9.4% 11.3%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 4.27 1.52 2.65 0.15 6.41 2.134 7.241 7.813
Distribution rate - - - - - - - -
Net sales 1 2,986 3,395 3,696 4,241 5,141 5,940 6,258 6,561
EBITDA 1 643.6 597.7 703.2 503.1 1,709 771.9 2,115 2,064
EBIT 1 585.8 579.4 620.5 413.9 1,616 863.8 2,264 2,526
Net income 1 948.6 340.7 597.6 32.62 1,287 444.9 1,504 1,691
Net Debt 1 -2,348 -3,239 -3,656 -2,158 -3,098 -4,276 -5,961 -7,933
Reference price 2 73.40 80.32 62.79 69.07 98.77 115.30 115.30 115.30
Nbr of stocks (in thousands) 220,891 222,475 224,109 192,650 196,323 202,698 - -
Announcement Date 08/02/22 07/02/23 13/02/24 10/02/25 10/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
32.45x11.78x23.93x0.61% 1,019B
28.48x6.32x17.7x2.09% 617B
33.26x7.78x16.08x2.64% 464B
104.98x5.87x24.89x2.36% 356B
18.81x4.58x11.36x2.9% 333B
19.83x5.17x12.78x3.09% 267B
20.02x4.17x11.86x2.13% 244B
25.46x6.66x11.86x2.5% 218B
-43.78x6.39x24.97x2.27% 179B
Average 26.61x 6.52x 17.27x 2.29% 410.8B
Weighted average by Cap. 31.80x 7.61x 18.61x 1.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  5. Valuation Incyte Corporation