Incyte (INCY) Gross Margin (2012 - 2026)
Incyte (INCY) posted Gross Margin of 91.79% for Q1 2026, little changed on a QoQ basis from 91.96% in Q4 2025, and down 126.0% year-over-year from 353.03% in Q1 2025.
Incyte (INCY) Gross Margin (2012 - 2026) Analysis & Trends
Incyte's Gross Margin history runs 15 years deep, the most recent figure standing at 91.79% for Q1 2026.
- Quarterly Gross Margin fell 126.0% year-over-year to 91.79% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 92.47% (down 18.0% YoY) and the FY2025 annual result came in at 92.76%, up 12.0% from the prior year.
- Gross Margin was 91.79% for Q1 2026 at Incyte, roughly flat from 91.96% in the prior quarter.
- Across five years, Gross Margin topped out at 94.44% in Q2 2022 and bottomed at 91.79% in Q1 2026.
- A 5-year average of 93.04% and a median of 93.05% in 2025 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin tumbled 173 bps — and 2025, when it soared 86 bps.
- Incyte's Gross Margin stood at 93.62% in 2022, then retreated by 1 bps to 93.12% in 2023, then slipped by 1 bps to 92.49% in 2024, then declined by 1 bps to 91.96% in 2025, then slipped by 0 bps to 91.79% in 2026.
- Business Quant data shows INCY's Gross Margin at 91.79% in Q1 2026, 91.96% in Q4 2025, and 92.75% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Oculis Holding AG | 68,785.72 Bn | 68,785.72 Bn | - | - |
| 2 | Nanobiotix | 1,895.57 Bn | 1,895.51 Bn | - | - |
| 3 | BeOne Medicines | 471.35 Bn | 466.56 Bn | 1.35 Bn | 88.95% |
| 4 | NuCana | 279.75 Bn | 279.75 Bn | - | - |
| 5 | Vertex Pharmaceuticals | 120.24 Bn | 113.00 Bn | 2.59 Bn | 86.85% |
| 6 | Regeneron Pharmaceuticals | 67.80 Bn | 59.04 Bn | 3.31 Bn | 91.79% |
| 7 | Belite Bio | 62.51 Bn | 62.51 Bn | - | - |
| 8 | Argenx Se | 57.38 Bn | 57.38 Bn | 1.41 Bn | 90.68% |
| 9 | Revolution Medicines | 37.78 Bn | 37.78 Bn | - | - |
| 10 | Incyte | 23.33 Bn | 19.32 Bn | 1.17 Bn | 91.79% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 91.79% |
| Dec 31, 2025 | 91.96% |
| Sep 30, 2025 | 92.75% |
| Jun 30, 2025 | 93.52% |
| Mar 31, 2025 | 93.05% |
| Dec 31, 2024 | 92.49% |
| Sep 30, 2024 | 92.44% |
| Jun 30, 2024 | 92.66% |
| Mar 31, 2024 | 93.08% |
| Dec 31, 2023 | 93.12% |
| Sep 30, 2023 | 93.46% |
| Jun 30, 2023 | 92.84% |
| Mar 31, 2023 | 92.97% |
| Dec 31, 2022 | 93.62% |
| Sep 30, 2022 | 93.37% |
| Jun 30, 2022 | 94.44% |
| Mar 31, 2022 | 94.19% |
| Dec 31, 2021 | 94.92% |
| Sep 30, 2021 | 95.10% |
| Jun 30, 2021 | 94.61% |