INCY Incyte PE ratio, current and historical analysis
- Stocks
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- NASDAQ: INCY
- PE Ratio
As of Jul 24, 2025, the Incyte stock's PE ratio is 243.07. This results from the current EPS of $0.29 and stock price of $70.49. The P/E ratio has decreased by 18% from the past four quarters average of 297.2.
INCY PE ratio history
The PE ratio of Incyte has averaged 200.05 over the last ten years. The current PE ratio of 243.07 is 22% above the historical average. In the past ten years, INCY's PE ratio was at its highest in the Dec 2015 quarter at 2,711.25, when the stock price was $108.45 and the EPS was $0.04. The lowest value was in the Sep 2022 quarter, when it reached 16.83 with a price of $66.64 and an EPS of $3.96.
Incyte PE ratio history chart
Incyte PE ratio by year
Maximum annual increase: 1,735.42% in 2024
Maximum annual decrease: -93.28% in 2016
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2024 | 431.69 | 1,735.42% | $69.07 | $0.16 |
| 2023 | 23.52 | -55.2% | $62.79 | $2.67 |
| 2022 | 52.5 | 207.56% | $80.32 | $1.53 |
| 2021 | 17.07 | N/A | $73.4 | $4.3 |
| 2020 | N/A | N/A | $86.98 | -$1.36 |
| 2019 | 41.98 | -65.67% | $87.32 | $2.08 |
| 2018 | 122.29 | N/A | $63.59 | $0.52 |
| 2017 | N/A | N/A | $94.71 | -$1.53 |
| 2016 | 182.31 | -93.28% | $100.27 | $0.55 |
| 2015 | 2,711.25 | N/A | $108.45 | $0.04 |
| 2014 | N/A | N/A | $73.11 | -$0.29 |
| 2013 | N/A | N/A | $50.63 | -$0.56 |
| 2012 | N/A | N/A | $16.61 | -$0.34 |
| 2011 | N/A | N/A | $15.01 | -$1.49 |
| 2010 | N/A | N/A | $16.56 | -$0.26 |
Incyte PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2025 | 208.79 | -51.63% | $60.55 | $0.29 |
| Dec 2024 | 431.69 | 11.03% | $69.07 | $0.16 |
| Sep 2024 | 388.82 | 143.73% | $66.1 | $0.17 |
| Jun 2024 | 159.53 | 832.38% | $60.62 | $0.38 |
| Mar 2024 | 17.11 | -27.25% | $56.97 | $3.33 |
| Dec 2023 | 23.52 | -23.06% | $62.79 | $2.67 |
| Sep 2023 | 30.57 | -19.47% | $57.77 | $1.89 |
| Jun 2023 | 37.96 | -23.31% | $62.25 | $1.64 |
| Mar 2023 | 49.5 | -5.71% | $72.27 | $1.46 |
| Dec 2022 | 52.5 | 211.94% | $80.32 | $1.53 |
| Sep 2022 | 16.83 | -5.4% | $66.64 | $3.96 |
| Jun 2022 | 17.79 | -5.47% | $75.97 | $4.27 |
| Mar 2022 | 18.82 | 10.25% | $79.42 | $4.22 |
| Dec 2021 | 17.07 | -39.68% | $73.4 | $4.3 |
| Sep 2021 | 28.3 | -48.2% | $68.78 | $2.43 |
INCY Price vs fair value
You can ether set your own Fair P/E multiple or use one of the automatically calculated Fair P/E multiples.
Fair P/E calculation
PE Ratio is an attempt to estimate a fair PE ratio of a stock based on its earnings and growth rate.
This formula is a modified version of the classic Graham-Dodd Formula (V= EPS x (8.5+2g)), originally developed by Benjamin Graham, to calculate the fair price of a stock based on its earnings and growth rate.
The formula we have created is an adaptation of this approach, designed to maintain a balance between simplicity and growth sensitivity.
It is calculated using the following formula:
IF g < 5: Fair PE = b
IF g >= 5: Fair PE = m × g
Here’s what each part of the formula means:
g: Growth is calculated as the average of the three-year average EPS growth rate and the one-year EPS growth rate (annually). This approach provides a balanced measure of growth by factoring in both the long-term growth trend and the most recent annual growth performance. If one of the growth metrics is not available, the remaining metric is used to determine growth. The fair P/E value is capped at 100 to prevent distortions caused by extreme EPS growth rates, such as those resulting from large percentage increases from a low base.
m: This is the long term historical median PEG (Price/Earnings to Growth) ratio of the overall market. It serves as a benchmark, adjusting the Fair PE based on typical market conditions.
b: Base PE (static value set to 8). If the company's growth rate is less than 5, the Fair PE is set at a conservative baseline of 8. This is because declining companies generally deserve a lower PE ratio.
Fixed vs Dynamic
Fixed: The Fair PE ratio for all data points is calculated using a single, constant average EPS growth rate, determined based on the most recent period. This means that the same growth rate is applied to all historical data points. Dynamic: The Fair PE ratio for each historical data point is calculated using the trailing average EPS growth rate specific to that point in time. This means that for each data point, the corresponding trailing EPS growth rate is used, ensuring that the Fair PE ratio reflects the growth conditions that were relevant at that specific point in history.
INCY average PE ratio chart
Currently, INCY's PE ratio is greater than its 3, 5 and 10-year historical averages.
PE vs average
INCY PE vs peers
INCY's PE ratio is higher than its peer stocks LLY and NVS. Incyte's current PE ratio of 243.07 is comparable to the average of its peer group, which is 32.11.
| Stock name | PE ratio | Market cap |
|---|---|---|
| NVS Novartis AG | 17 | $227.39B |
| PFE Pfizer Inc | 18.24 | $144.12B |
| AMGN Amgen Inc | 27.92 | $165.91B |
| LLY ELI LILLY & Co | 65.27 | $763.33B |
| INCY Incyte Corp | 243.07 | $13.64B |
| LGND Ligand Pharmaceuticals Inc | N/A | $2.56B |
| ARDX Ardelyx Inc | N/A | $1.04B |
| GERN Geron Corp | N/A | $815.25M |
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Frequently asked questions
What is Incyte's PE ratio?
INCY stock has a price to earnings ratio of 243.07 as of Jul 24, 2025.
What is the 3-year average PE ratio for Incyte (INCY)?
As an average over the last 3 years, INCY stock has a PE ratio of 128.8.
What is the 5-year average PE ratio for Incyte (INCY)?
As an average over the last 5 years, INCY stock has a PE ratio of 93.56.
What is the highest PE ratio for INCY?
Over the last ten years, the quarterly PE ratio reached a historic high of 2,711.25 in the Dec 2015 quarter.
How does the current PE ratio for INCY compare to its historical average?
INCY's price to earnings ratio is currently 22% above its 10-year historical average.
Why is Incyte's PE ratio so high?
INCY's PE ratio is high because its earnings per share (EPS) is low relative to its stock price.
How is INCY's PE ratio calculated (Incyte PE ratio formula)?
You can calculate the PE ratio by dividing the most recent stock price by the trailing twelve months EPS. As of today (Jul 24, 2025), Incyte's stock price is $70.49. The earnings per share for the trailing twelve months (TTM) ending Mar 2025 is $0.29. Therefore, Incyte's P/E ratio for today is 243.07. PE RATIO(243.07) = STOCK PRICE($70.49) / TTM EPS($0.29)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.