INCYTE CORP

INCY 10-K · FY 2025

INCY FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 5,141,242 4,241,217 +21.2%
Show Product Lines breakouts
ICLUSIG 134,071 114,319 +17.3%
JAKAFI 3,092,515 2,792,107 +10.8%
JAKAFI · US 88.1 131.8 -33.2%
JAKAVI Royalty Revenues 457,729 418,840 +9.3%
JAKAVI · Novartis 457.7 418.8 +9.3%
Milestone and contract revenues 150,000 43,000 +248.8%
Milestone and contract revenues · Reportable Segment 150,000 43,000 +248.8%
MINJUVI/MONJUVI 144,578 119,236 +21.3%
NIKTIMVO 151,636
OLUMIANT Royalty Revenues 144,600 135,572 +6.7%
OLUMIANT · Eli Lilly 144.6 135.6 +6.6%
OPZELURA 678,455 508,293 +33.5%
Other product royalty revenues 7,878 2,171 +262.9%
PEMAZYRE 86,727 81,748 +6.1%
Product 4,354,333 3,618,888 +20.3%
Product · Reportable Segment 4,354,333 3,618,888 +20.3%
Royalty 636,909 579,329 +9.9%
Royalty · Reportable Segment 636,909 579,329 +9.9%
TABRECTA Royalty Revenues 26,702 22,746 +17.4%
TABRECTA · Novartis 26.7 22.7 +17.6%
ZYNYZ 66,351 3,185 +1983.2%
Show Business Segments breakouts
Reportable Segment 5,141,242 4,241,217 +21.2%
Show Geography breakouts
Europe 323,734 260,437 +24.3%
Other countries 17,567 6,213 +182.7%
US 4,799,941 3,974,567 +20.8%
Cost of Revenue 372,130 312,068 +19.2%
Show Business Segments breakouts
Reportable Segment 372,130 312,068 +19.2%
Show Geography breakouts
US · Syndax 44
Gain Loss Related To Litigation Settlement -242,251
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JAKAFI · Novartis -242.2
Show Business Segments breakouts
Reportable Segment -242,251
Research & Development 2,050,152 2,606,848 -21.4%
Show Type Of Arrangement breakouts
Syndax 21.9 18.8 +16.5%
Selling, General & Administrative 1,376,206 1,242,157 +10.8%
Asset Impairment Charges 76,275
Show Business Segments breakouts
Reportable Segment 76,275
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 -6,129 19,803 -130.9%
Show Business Segments breakouts
Reportable Segment -6,129 19,803 -130.9%
Total Costs & Expenses 3,626,383 4,179,851 -13.2%
Operating Income 1,514,859 61,366 +2368.6%
Interest Income 105,600 128,710 -18.0%
Interest Expense -2,428 -2,280 -6.5%
Equity Securities Fv Ni Gain Loss 21,310 116,025 -81.6%
Other Non-Operating Income (Expense) 25,110 12,809 +96.0%
Income Before Taxes 1,664,451 316,630 +425.7%
Show Geography breakouts
Non Us 92,708 -85,130 +208.9%
US 1,571,743 401,760 +291.2%
Income Tax Expense (Benefit) 377,801 284,015 +33.0%
Net Income 1,286,650 32,615 +3845.0%
Show Business Segments breakouts
Reportable Segment 1,286,650 32,615 +3845.0%
Show Equity Components breakouts
Retained Earnings 1,286,650 32,615 +3845.0%
EPS (Basic) 6.59 0.16 +4018.8%
EPS (Diluted) 6.41 0.15 +4173.3%
Wtd Avg Shares (Basic) 195,204 207,110 -5.7%
Wtd Avg Shares (Diluted) 200,700 210,530 -4.7%
Sales & Marketing (FY)
Show Business Segments breakouts
Reportable Segment 1,094,754 945,428 +15.8%
General & Administrative (FY)
Show Business Segments breakouts
Reportable Segment 281,452 296,729 -5.1%
Comprehensive Income 1,325,233 6,388 +20645.7%
Other Comprehensive Income 38,583 -26,227 +247.1%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment 11,958 -8,997 +232.9%
Accumulated Net Unrealized Investment Gain Loss 1,648 495 +232.9%
Accumulated Other Comprehensive Income 38,583 -26,227 +247.1%
Accumulated Translation Adjustment 24,977 -17,725 +240.9%
Net Income Loss Available To Common Stockholders Basic 1,286,650 32,615 +3845.0%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 3,097,817 1,687,829 +83.5%
Debt Securities Available For Sale Excluding Accrued Interest Current 482,787 470,263 +2.7%
Accounts Receivable Net 1,024,407 853,154 +20.1%
Inventory 101,060 58,872 +71.7%
Prepaid Expenses & Other Current Assets 317,831 168,912 +88.2%
Total Current Assets 5,023,902 3,239,030 +55.1%
Non-Current Assets
Restricted Cash Noncurrent 1,852 1,622 +14.2%
Equity Securities F V N I Noncurrent 47,991 18,814 +155.1%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 47,991 18,814 +155.1%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Investment in Prelude 18.1
Investment in Syndax 29.9 18.8 +59.0%
Show Fair Value By Measurement Basis breakouts
Estimate Of Fair Value Fair Value Disclosure 47,991 18,814 +155.1%
Inventory Noncurrent 342,232 348,327 -1.7%
Property, Plant & Equipment 730,885 763,411 -4.3%
Show Geography breakouts
CH 309,802 277,623 +11.6%
Other countries 14,254 11,693 +21.9%
US 406,829 474,095 -14.2%
Goodwill 133,000 155,593 -14.5%
Deferred Tax Assets 515,294 762,071 -32.4%
Other Non-Current Assets 18,166 10,848 +67.5%
Total Assets 6,957,973 5,444,322 +27.8%
Intangible Assets (Q)
Show Finite Lived Intangible Assets By Major Class breakouts
Capitalized milestone payments 52,522 26,680 +96.9%
Intellectual Property 64,609 86,146 -25.0%
Other Assets
Finance Lease Right Of Use Asset 27,520 30,803 -10.7%
Other Intangible Assets Net 117,131 113,803 +2.9%
Current Liabilities
Accounts Payable 209,938 197,465 +6.3%
Employee Related Liabilities Current 228,071 188,677 +20.9%
Accrued Liabilities 1,031,501 1,212,048 -14.9%
Finance Lease Liability Current 4,516 4,419 +2.2%
Business Combination Contingent Consideration Liability Current 41,144 39,238 +4.9%
Total Current Liabilities 1,515,170 1,641,847 -7.7%
Non-Current Liabilities
Business Combination Contingent Consideration Liability Noncurrent 79,856 153,762 -48.1%
Finance Lease Liability Noncurrent 30,199 33,542 -10.0%
Other Non-Current Liabilities 165,270 167,543 -1.4%
Total Liabilities 1,790,495 1,996,694 -10.3%
Operating Lease Liabilities 14,508 16,793 -13.6%
Stockholders' Equity
Common Stock 198 193 +2.6%
Additional Paid In Capital Common Stock 4,928,049 4,533,437 +8.7%
Accumulated Other Comprehensive Income 25,462 -13,121 +294.1%
Retained Earnings 213,769 -1,072,881 +119.9%
Total Stockholders' Equity 5,167,478 3,447,628 +49.9%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -27,965 -39,923 +30.0%
Accumulated Net Unrealized Investment Gain Loss 1,994 346 +476.3%
Accumulated Other Comprehensive Income 25,462 -13,121 +294.1%
Accumulated Translation Adjustment 51,433 26,456 +94.4%
Additional Paid In Capital 4,928,049 4,533,437 +8.7%
Common Stock 198 193 +2.6%
Retained Earnings 213,769 -1,072,881 +119.9%
Total Liabilities & Equity 6,957,973 5,444,322 +27.8%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Net Income 1,286,650 32,615 +3845.0%
Depreciation & Amortization 93,286 89,248 +4.5%
Stock-Based Compensation 249,346 266,058 -6.3%
Increase Decrease In Deferred Income Taxes 247,685 -85,553 +389.5%
Other Non-Cash Items 14,857 -9,053 +264.1%
Change in Accounts Receivable -170,772 -111,586 -53.0%
Change in Prepaid & Other Assets -156,237 10,365 -1607.4%
Change in Inventory -58,513 -127,633 +54.2%
Change in Accounts Payable 6,562 88,159 -92.6%
Increase Decrease In Accrued Liabilities -148,202 278,939 -153.1%
Net Cash from Operations 1,413,498 335,337 +321.5%
Deferred Income Taxes 247,685 -85,553 +389.5%
Investing Activities
Payments To Acquire Longterm Investments -7,875
Proceeds From Sale Of Longterm Investments 8 284,781 -100.0%
Payments To Acquire Other Productive Assets -58,867 -86,263 +31.8%
Payments To Acquire Intangible Assets -25,000 -13,900 -79.9%
Payments To Acquire Marketable Securities -295,507 -258,370 -14.4%
Proceeds From Sale And Maturity Of Marketable Securities 284,631 231,269 +23.1%
Net Cash from Investing -102,610 157,517 -165.1%
Financing Activities
Payments For Repurchase Of Common Stock Excise Tax -19,100
Proceeds From Stock Plans 221,762 49,301 +349.8%
Tax Withholding for Share Compensation -76,818 -40,302 -90.6%
Finance Lease Principal Payments -4,544 -3,798 -19.6%
Payment For Contingent Consideration Liability Financing Activities -20,261 -21,958 +7.7%
Net Cash from Financing 101,039 -2,021,547 +105.0%
Supplemental
Loss Contingency Accrual Payments 294,881
Unpaid Capital Expenditures 4,929 2,597 +89.8%
Right Of Use Asset Obtained In Exchange For Operating Lease Liability 3,163 9,674 -67.3%
Right Of Use Asset Obtained In Exchange For Finance Lease Liability 937 8,906 -89.5%
Income Taxes Paid 212,178 373.1 +56768.9%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents -1,709 2,923 -158.5%
Net Change in Cash 1,410,218 -1,525,770 +192.4%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 3,099,669 1,689,451 +83.5%

Values in thousands USD. Source: SEC EDGAR 10-K filing.

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