INCY Incyte margins

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  2. Healthcare
  3. NASDAQ: INCY
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Relative Growth: Rel. Growth: 56
Relative Strength: Rel. Strength: 73
Relative Valuation: Rel. Valuation: 20
Relative Profitability: Rel. Profitability: 65
Gross margin
92.7%
Operating margin
10.4%
EBITDA margin
14.9%
Net margin
6.7%

For the latest period, Incyte has a gross margin of 92.7%, an operating margin of 10.4%, an EBITDA margin of 14.9%, and a net margin of 6.7%. Each available margin deteriorated from the same period last year. Operating margin recorded the strongest contraction, dropping by 20.4 percentage points.

INCY margin history

Gross, operating, EBITDA and net margin trends

Incyte's margins averaged 92.82% gross, 16.39% operating, 23.13% EBITDA, and 14.2% net during the last 3 years. Currently, all four current margins are below their three-year averages.

INCY margin expansion

Year-over-year margin changes in percentage points

The biggest contraction was in operating margin, which fell by 20.4 percentage points. The other available margins also declined.

Gross margin expansion
-0.2pp
Operating margin expansion
-20.4pp
EBITDA margin expansion
-20.1pp
Net margin expansion
-18pp

INCY Gross margin

Over the last 3 years, Incyte's gross margin averaged 92.82%. The current gross margin of 92.7% is 0.1 percentage points below its three-year average. During this period, gross margin reached a high of 93.1% in Jun 2024 and a low of 92.5% in Mar 2026.

INCY Operating margin

Over the last 3 years, Incyte's operating margin averaged 16.39%. Right now, Incyte's current operating margin is 10.4%, which is 6 percentage points below its three-year average. During this period, operating margin reached a high of 30.8% in Sep 2025 and a low of -1.3% in Sep 2024.

INCY EBITDA margin

Across the last 3 years, Incyte's EBITDA margin averaged 23.13%. The current EBITDA margin stands at 14.9%, 8.2 percentage points below its three-year average. EBITDA margin was highest at 35.5% in Jun 2026 and lowest at 9% in Sep 2024.

INCY Net margin

Across the last 3 years, Incyte's net margin averaged 14.2%. As of the latest period, the current net margin for Incyte is 6.7%, 7.5 percentage points below its three-year average. Net margin was highest at 27.7% in Jun 2026 and lowest at 0.5% in Mar 2025.

INCY margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 92.7%, INCY ranks higher than the Healthcare sector, the industry and its peers average. In comparison with the Healthcare sector average of 68.3%, Incyte's gross margin is 36% higher.

INCY margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Incyte's gross margin?

As of Sep 30, 2026, INCY has a gross margin of 92.7%.

What is Incyte's operating margin?

As of Sep 30, 2026, INCY has an operating margin of 10.4%.

What is Incyte's EBITDA margin?

As of Sep 30, 2026, INCY has an EBITDA margin of 14.9%.

What is Incyte's net margin?

For the period ending Sep 30, 2026, INCY recorded a net margin of 6.7%.

What are the average margins of INCY?

Looking back over 3 years, INCY recorded average margins of 92.8% gross, 16.4% operating, 23.1% EBITDA, and 14.2% net.

What are the highest historical margins of INCY?

Looking back across 5 years, INCY reached 94.9% gross in Dec 2021, 30.8% operating in Sep 2025, 35.5% EBITDA in Jun 2026, and 31.8% net in Dec 2021.

What are the lowest historical margins of INCY?

Looking back across 5 years, INCY reached its lowest margins at 92.5% gross in Mar 2026, -1.3% operating in Sep 2024, 9% EBITDA in Sep 2024, and 0.5% net in Mar 2025.