INCY

Nasdaq

INCYTE CORP

Health Care, Biotechnology

$120.56

close 7 Aug 2026

+52.24%

52-week change

$24.11B

market cap

$78.20

$132.60

52-week range

Expected price

$140.33 – $171.51

Current price

$120.56

Signal

Could be undervalued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)17.03x

P/S (TTM)4.50x

P/B4.29x

EV/EBITDA (TTM)—

FCF yield (TTM)6.02%

PEG (TTM, GAAP)0.28

Context

P/E, own 5-year average95.19x

P/E, sector median29.65x*

Price at 5-year median P/E$190.98*

Forward — analyst consensus

Forward P/E (FY2026)33.91x*

Forward P/E (FY2027)13.57x

Forward PEG0.23*

Consensus EPS FY2026 (16 analysts)$3.56

EPS growth (FY2026→FY2027)149.80%

Revenue growth (FY2026)15.59%

Street view

Price target (mean)$124.96*

Target upside3.65%

Ratings (buy / hold / sell)11 / 15 / 1

FY2026 EPS revisions, 30d (up / down)0 / 3

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

period to 31 Mar 2026, filed 28 Apr 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

10Y CAGR +35.82%

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$120.56

Cash & equivalents$3.46B

Total debt—

Shares outstanding199.95M

Result

DCF price per share—

Current price$120.56

Margin of safety—

PV of years 1–10$35.35B

PV of terminal value$116.64B

Equity value—

Market-implied growth—

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	$1.81B	$2.27B	$2.83B	$3.54B	$4.43B	$5.53B	$6.92B	$8.65B	$10.81B	$13.51B	$251.82B
PV	$1.68B	$1.94B	$2.25B	$2.60B	$3.01B	$3.49B	$4.04B	$4.67B	$5.41B	$6.26B	$116.64B

period to 31 Mar 2026, filed 28 Apr 2026, close 7 Aug 2026