Incyte Corporation (INCY) financial statements: income statement, balance sheet and cash flow
Incyte Corporation's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Incyte Corporation reported revenue of $5.1B (+21.2% year on year) and net income of $1.3B (+3845.0% year on year).
Income statement
Incyte Corporation income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total revenues
$5.1B
$4.2B
$3.7B
$3.4B
Cost of product revenues (including definite-lived intangible amortization)
$372.1M
$312.1M
$255.0M
$207.0M
Contract dispute settlement
($242.3M)
—
—
—
Research and development
$2.1B
$2.6B
$1.6B
$1.6B
Selling, general and administrative
$1.4B
$1.2B
$1.2B
$1.0B
Asset impairment
$76.3M
—
—
—
(Gain) loss on change in fair value of acquisition-related contingent consideration
($6.1M)
$19.8M
$29.2M
$12.1M
(Profit) and loss sharing under collaboration agreements
$0
($1.0M)
$2.0M
$8.0M
Total costs, expenses and other
$3.6B
$4.2B
$3.1B
$2.8B
Income from operations
$1.5B
$61.4M
$620.5M
$579.4M
Interest income
$105.6M
$128.7M
—
—
Interest expense
($2.4M)
($2.3M)
($2.6M)
($2.7M)
Gain on equity investments
$21.3M
$116.0M
—
—
Other, net
$25.1M
$12.8M
$172.3M
$39.9M
Income before provision for income taxes
$1.7B
$316.6M
$834.2M
$529.1M
Provision for income taxes
$377.8M
$284.0M
$236.6M
$188.5M
Net income
$1.3B
$32.6M
$597.6M
$340.7M
Basic (in dollars per share)
$6.59
$0.16
$2.67
$1.53
Diluted (in dollars per share)
$6.41
$0.15
$2.65
$1.52
Basic (in shares)
195.2M
207.1M
223.6M
222.0M
Diluted (in shares)
200.7M
210.5M
225.9M
224.0M
Incyte Corporation income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total revenues
$1.7B
$1.3B
$1.4B
$1.2B
Cost of sales (including definite-lived intangible amortization)
$105.0M
$104.5M
$99.0M
$78.8M
Contract dispute settlement
$0
—
$0
($242.3M)
Research and development
$517.0M
$515.9M
$506.6M
$494.9M
Selling, general and administrative
$351.7M
$328.1M
$329.1M
$331.0M
Asset impairment and related disposal costs
$0
$23.2M
—
—
Loss on change in fair value of acquisition-related contingent consideration
$2.5M
($168.0K)
($12.2M)
$22.8M
Total costs, expenses and other
$976.1M
$971.6M
$922.5M
$685.2M
Income from operations
$697.9M
$301.1M
$443.5M
$530.3M
Interest income
$38.1M
$33.7M
$26.8M
$25.1M
Interest expense
($582.0K)
($569.0K)
($592.0K)
($594.0K)
Gain (loss) on equity investments
$9.8M
$6.6M
$8.6M
($4.2M)
Other, net
$6.3M
$2.8M
$4.0M
$7.3M
Income before provision for income taxes
$751.5M
$343.6M
$482.3M
$558.0M
Provision for income taxes
$165.9M
$40.3M
$58.1M
$153.0M
Net income
$585.6M
$303.3M
$424.2M
$405.0M
Basic (in dollars per share)
$2.92
$1.52
$2.17
$2.09
Diluted (in dollars per share)
$2.81
$1.47
$2.11
$2.04
Basic (in shares)
200.4M
199.3M
195.7M
194.0M
Diluted (in shares)
208.2M
206.8M
201.4M
198.7M
Balance sheet
Incyte Corporation balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$3.1B
$1.7B
$3.2B
$3.0B
Marketable securities—available-for-sale (amortized cost $480,793 and $469,917 as of December 31, 2025 and 2024, respectively; allowance for credit losses $0 as of December 31, 2025 and 2024)
$482.8M
$470.3M
—
—
Accounts receivable
$1.0B
$853.2M
$743.6M
$644.9M
Inventory
$101.1M
$58.9M
$63.0M
$42.0M
Prepaid expenses and other current assets
$317.8M
$168.9M
$182.8M
$167.0M
Total current assets
$5.0B
$3.2B
$4.6B
$4.1B
Restricted cash
$1.9M
$1.6M
$1.8M
$1.7M
Long term equity investments
$48.0M
$18.8M
—
—
Inventory
$342.2M
$348.3M
$207.0M
$79.0M
Property and equipment, net
$730.9M
$763.4M
$751.5M
$739.3M
Finance lease right-of-use assets, net
$27.5M
$30.8M
$25.5M
$26.3M
Other intangible assets, net
$117.1M
$113.8M
$123.5M
$129.2M
Goodwill
$133.0M
$155.6M
$155.6M
$155.6M
Deferred income tax asset
$515.3M
$762.1M
$631.9M
$457.9M
Other assets
$18.2M
$10.8M
$52.1M
$25.4M
Total assets
$7.0B
$5.4B
$6.8B
$5.8B
Accounts payable
$209.9M
$197.5M
$109.6M
$277.5M
Accrued compensation
$228.1M
$188.7M
$153.3M
$138.8M
Accrued and other current liabilities
$1.0B
$1.2B
$935.6M
$701.1M
Finance lease liabilities
$4.5M
$4.4M
$3.4M
$3.2M
Acquisition-related contingent consideration
$41.1M
$39.2M
$38.4M
$36.5M
Total current liabilities
$1.5B
$1.6B
$1.2B
$1.2B
Acquisition-related contingent consideration
$79.9M
$153.8M
$173.6M
$184.5M
Finance lease liabilities
$30.2M
$33.5M
$29.2M
$30.1M
Other liabilities
$165.3M
$167.5M
$149.2M
$99.2M
Total liabilities
$1.8B
$2.0B
$1.6B
$1.5B
Preferred stock, $0.001 par value; 5,000,000 shares authorized; none issued or outstanding as of December 31, 2025 and 2024
0
0
0
0
Common stock, $0.001 par value; 400,000,000 shares authorized; 198,460,009 and 193,434,305 shares issued and outstanding as of December 31, 2025 and 2024, respectively
198.0K
193.0K
224.0K
223.0K
Additional paid-in capital
$4.9B
$4.5B
$5.0B
$4.8B
Accumulated other comprehensive income (loss)
$25.5M
($13.1M)
$13.1M
$15.1M
Retained earnings (accumulated deficit)
$213.8M
($1.1B)
$160.4M
($437.2M)
Total stockholders’ equity
$5.2B
$3.4B
$5.2B
$4.4B
Total liabilities and stockholders’ equity
$7.0B
$5.4B
$6.8B
$5.8B
Incyte Corporation balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$4.0B
$3.5B
$2.5B
$2.0B
Marketable securities—available-for-sale (amortized cost $555,856 and $480,793 as of June 30, 2026 and December 31, 2025, respectively; allowance for credit losses $0 as of June 30, 2026 and December 31, 2025)
$553.4M
$554.7M
$474.8M
$466.8M
Accounts receivable
$1.1B
$1.1B
$895.9M
$842.9M
Inventory
$112.5M
$115.6M
$83.4M
$83.4M
Prepaid expenses and other current assets
$253.1M
$301.3M
$368.7M
$295.6M
Total current assets
$6.0B
$5.5B
$4.3B
$3.6B
Restricted cash
$1.8M
$1.8M
$1.8M
$1.8M
Long term equity investments
$104.4M
$54.6M
$21.9M
$13.3M
Inventory
$345.0M
$331.4M
$366.5M
$368.1M
Property and equipment, net
$709.5M
$720.2M
$798.6M
$798.5M
Finance lease right-of-use assets, net
$25.6M
$26.7M
$28.2M
$29.0M
Other intangible assets, net
$103.2M
$110.2M
$119.4M
$126.4M
Goodwill
$133.0M
$133.0M
$155.6M
$155.6M
Deferred income tax asset
$336.9M
$452.5M
$528.1M
$652.3M
Other assets, net
$86.8M
$24.5M
$32.3M
$32.6M
Total assets
$7.9B
$7.3B
$6.3B
$5.8B
Accounts payable
$250.4M
$228.6M
$171.9M
$241.1M
Accrued compensation
$148.3M
$124.9M
$168.3M
$129.1M
Accrued and other current liabilities
$870.3M
$1.1B
$948.4M
$857.1M
Finance lease liabilities
$4.3M
$4.4M
$4.5M
$4.5M
Acquisition-related contingent consideration
$38.8M
$39.4M
$45.6M
$46.8M
Total current liabilities
$1.3B
$1.5B
$1.3B
$1.3B
Acquisition-related contingent consideration
$63.2M
$70.6M
$138.4M
$160.2M
Finance lease liabilities
$28.4M
$29.4M
$30.9M
$31.8M
Other liabilities
$124.5M
$126.6M
$171.2M
$179.9M
Total liabilities
$1.5B
$1.7B
$1.7B
$1.7B
Preferred Stock, $0.001 par value; 5,000,000 shares authorized; none issued or outstanding
0
0
0
0
Common Stock, $0.001 par value; 400,000,000 shares authorized; 200,977,687 and 198,460,009 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
201.0K
200.0K
196.0K
194.0K
Additional paid-in capital
$5.2B
$5.1B
$4.7B
$4.7B
Accumulated other comprehensive income
$19.7M
$22.3M
$14.6M
$13.4M
Retained earnings
$1.1B
$517.1M
($85.5M)
($509.7M)
Total stockholders’ equity
$6.3B
$5.6B
$4.7B
$4.2B
Total liabilities and stockholders’ equity
$7.9B
$7.3B
$6.3B
$5.8B
Cash flow statement
Incyte Corporation cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$1.3B
$32.6M
$597.6M
$340.7M
Depreciation and amortization
$93.3M
$89.2M
$82.7M
$67.9M
Stock-based compensation
$249.3M
$266.1M
$215.9M
$188.4M
Deferred income taxes
$247.7M
($85.6M)
($158.9M)
$57.1M
Other, net
$14.9M
($9.1M)
$22.6M
$17.4M
(Gain) on equity investments
($21.3M)
($116.0M)
—
—
(Gain) loss on change in fair value of acquisition-related contingent consideration
($6.1M)
$19.8M
$29.2M
$12.1M
Asset impairment
$76.3M
—
—
—
Accounts receivable
($170.8M)
($111.6M)
($98.7M)
($28.6M)
Prepaid expenses and other assets
($156.2M)
$10.4M
($42.5M)
($30.7M)
Inventory
($58.5M)
($127.6M)
($170.2M)
($67.5M)
Accounts payable
$6.6M
$88.2M
($167.9M)
$105.4M
Accrued and other liabilities
($148.2M)
$278.9M
$230.6M
$220.2M
Net cash provided by operating activities
$1.4B
$335.3M
$496.5M
$969.9M
Purchase of long term investments
($7.9M)
$0
($10.0M)
$0
Sale of equity investments
$8.0K
$284.8M
$45.0K
$0
Capital expenditures
($58.9M)
($86.3M)
($32.5M)
($77.8M)
Payments for intangible assets
($25.0M)
($13.9M)
($15.0M)
—
Purchases of marketable securities
($295.5M)
($258.4M)
($456.0M)
($79.9M)
Maturities of marketable securities
$284.6M
$231.3M
$305.8M
$79.2M
Net cash (used in) provided by investing activities
($102.6M)
$157.5M
($207.7M)
($78.5M)
Repurchase of Common Stock
$0
($2.0B)
—
—
Excise tax paid on repurchase of Common Stock
($19.1M)
—
—
—
Proceeds from issuance of Common Stock under stock plans
$221.8M
$49.3M
$35.8M
$61.1M
Tax withholdings related to restricted and performance share vesting
($76.8M)
($40.3M)
($28.6M)
($26.3M)
Payment of finance lease liabilities
($4.5M)
($3.8M)
($3.4M)
($2.9M)
Payment of contingent consideration
($20.3M)
($22.0M)
($24.0M)
($32.7M)
Net cash provided by (used in) financing activities
$101.0M
($2.0B)
($20.0M)
($794.0K)
Effect of exchange rates on cash, cash equivalents, and restricted cash
($1.7M)
$2.9M
($6.7M)
$3.4M
Net increase (decrease) in cash, cash equivalents, and restricted cash
$1.4B
($1.5B)
$262.1M
$894.0M
Cash, cash equivalents, and restricted cash at beginning of period
$1.7B
$3.2B
$3.0B
$2.1B
Cash, cash equivalents, and restricted cash at end of period
$3.1B
$1.7B
$3.2B
—
Cash paid for contract dispute settlement
$294.9M
—
—
—
Unpaid purchases of property and equipment
$4.9M
$2.6M
$5.1M
$3.5M
Unpaid excise tax on repurchase of common stock
$0
$19.2M
—
—
Leased assets obtained in exchange for new operating lease liabilities
$3.2M
$9.7M
$5.3M
$6.7M
Leased assets obtained in exchange for new finance lease liabilities
$937.0K
$8.9M
$2.3M
$1.9M
Incyte Corporation cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$888.9M
$303.3M
$987.4M
$563.2M
Depreciation and amortization
$50.3M
$23.8M
$69.3M
$45.3M
Stock-based compensation
$131.4M
$64.1M
$187.2M
$125.6M
Deferred income taxes
$179.0M
$63.4M
$234.2M
$110.1M
Other, net
$14.4M
$12.8M
$3.4M
($3.2M)
(Gain) loss on equity investments
($16.4M)
($6.6M)
($3.1M)
$5.5M
Loss on change in fair value of acquisition-related contingent consideration
$2.3M
($168.0K)
$22.1M
$34.3M
Accounts receivable
($100.8M)
($27.0M)
($42.3M)
$10.7M
Prepaid expenses and other assets
($4.8M)
$9.2M
($221.3M)
($148.4M)
Inventory
($24.1M)
($12.2M)
($53.7M)
($48.1M)
Accounts payable
$45.9M
$23.4M
($26.4M)
$17.8M
Accrued and other liabilities
($289.1M)
($84.7M)
($286.7M)
($401.9M)
Net cash provided by operating activities
$877.0M
$369.4M
$870.2M
$310.8M
Purchase of long term investments
($40.0M)
—
—
—
Sale of equity investments
$0
$0
$8.0K
$7.0K
Capital expenditures
($22.6M)
($10.2M)
($37.0M)
($22.2M)
Payments for intangible assets
($5.0M)
($5.0M)
($25.0M)
$0
Purchases of marketable securities
($174.1M)
($142.7M)
($212.9M)
($97.3M)
Maturities of marketable securities
$101.7M
$69.7M
$209.6M
$101.8M
Net cash used in investing activities
($140.0M)
($88.2M)
($65.2M)
($17.8M)
Excise tax paid on repurchase of Common Stock
$0
—
($19.1M)
($19.1M)
Proceeds from issuance of Common Stock under stock plans
$173.1M
$97.9M
$61.6M
$18.1M
Tax withholdings related to restricted and performance share vesting
($10.9M)
($7.0M)
($60.5M)
($10.4M)
Payment of finance lease liabilities
($2.3M)
($1.2M)
($3.4M)
($2.2M)
Payment of contingent consideration
($9.6M)
($5.0M)
($15.3M)
($10.3M)
Net cash provided by (used in) financing activities
$150.3M
$84.8M
($36.7M)
($23.9M)
Effect of exchange rates on cash, cash equivalents, and restricted cash
($2.8M)
($2.7M)
($908.0K)
($1.7M)
Net increase in cash, cash equivalents, and restricted cash
$884.5M
$363.3M
$767.4M
$267.4M
Cash, cash equivalents, and restricted cash at beginning of period
$3.1B
$3.1B
$1.7B
$1.7B
Cash, cash equivalents, and restricted cash at end of period
$4.0B
$3.5B
$2.5B
$2.0B
Income taxes paid
$6.4M
($8.8M)
$185.2M
$177.9M
Cash paid for contract dispute settlement
$0
—
$294.9M
$294.9M
Unpaid purchase of intangible asset
$0
—
—
$25.0M
Unpaid purchases of property and equipment
$2.0K
$1.6M
$4.2M
$4.0M
Leased assets obtained in exchange for new operating lease liabilities
$572.0K
$572.0K
$3.2M
$1.8M
Leased assets obtained in exchange for new finance lease liabilities