INCY Incyte margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 99

Gross margin

92.6%

Operating margin

30.6%

EBITDA margin

35.5%

Net margin

27.7%

For the latest period, Incyte has a gross margin of 92.6%, an operating margin of 30.6%, an EBITDA margin of 35.5%, and a net margin of 27.7%. Net margin showed the largest improvement, gaining by 8.7 percentage points. Gross margin saw the largest decline, dropping by 0.3 percentage points.

INCY margin history

Gross, operating, EBITDA and net margin trends

Incyte's margins averaged 92.86% gross, 16.68% operating, 23.57% EBITDA, and 14.63% net during the last 3 years. Against the three-year averages, operating, EBITDA, and net margins are above their three-year averages and gross margin is below its three-year average.

INCY margin expansion

Year-over-year margin changes in percentage points

The strongest improvement was in net margin, which increased by 8.7 percentage points, and operating margin also expanded by 4.8 percentage points and EBITDA margin also expanded by 5.9 percentage points, whereas gross margin contracted by 0.3 percentage points.

Gross margin expansion

-0.3pp

Operating margin expansion

4.8pp

EBITDA margin expansion

5.9pp

Net margin expansion

8.7pp

INCY Gross margin

Over the last 3 years, Incyte's gross margin averaged 92.86%. The current gross margin of 92.6% is 0.3 percentage points below its three-year average. During this period, gross margin reached a high of 93.2% in Sep 2023 and a low of 92.5% in Mar 2026.

INCY Operating margin

Over the last 3 years, Incyte's operating margin averaged 16.68%. Right now, Incyte's current operating margin is 30.6%, which is 13.9 percentage points above 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 23.57%. The current EBITDA margin stands at 35.5%, 11.9 percentage points above 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 14.63%. As of the latest period, the current net margin for Incyte is 27.7%, 13.1 percentage points above 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 92.6%, INCY ranks higher than the Healthcare sector, the industry and its peers average. In comparison with the Healthcare sector average of 68.5%, Incyte's gross margin is 35% higher.

INCY margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Incyte's gross margin?

As of Jun 30, 2026, INCY has a gross margin of 92.6%.

What is Incyte's operating margin?

As of Jun 30, 2026, INCY has an operating margin of 30.6%.

What is Incyte's EBITDA margin?

As of Jun 30, 2026, INCY has an EBITDA margin of 35.5%.

What is Incyte's net margin?

For the period ending Jun 30, 2026, INCY recorded a net margin of 27.7%.

What are the average margins of INCY?

Looking back over 3 years, INCY recorded average margins of 92.9% gross, 16.7% operating, 23.6% EBITDA, and 14.6% net.

What are the highest historical margins of INCY?

Looking back across 5 years, INCY reached 95.1% gross in Sep 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.