Incyte (INCY) Operating Expenses (2010 - 2026)
Incyte's (INCY) quarterly Operating Expenses came in at $976.1 million in Q2 2026, up 42.46% YoY from $685.2 million in Q2 2025, and little changed on a QoQ basis from $971.6 million in Q1 2026.
Analysis
Incyte (INCY) Operating Expenses (2010 - 2026) Analysis & Trends
Incyte (INCY) has 17 years of Operating Expenses data on file, last reported at $976.1 million in Q2 2026.
- Quarterly Operating Expenses rose 42.46% year-over-year to $976.1 million in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $4.0 billion (up 18.79% YoY) and the FY2025 annual result came in at $3.6 billion, down 13.24% from the prior year.
- Operating Expenses held at $976.1 million in Q2 2026, from $971.6 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $1.5 billion in Q2 2024 to a low of $616.7 million in Q1 2022.
- A 5-year average of $869.1 million and a median of $836.9 million in 2023 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2024 — Operating Expenses soared 100.03% — and 2025, when it sank 54.98%.
- Tracing INCY's Operating Expenses over 5 years: stood at $856.6 million in 2022, then dropped by 3.56% to $826.1 million in 2023, then gained by 6.19% to $877.2 million in 2024, then jumped by 33.49% to $1.2 billion in 2025, then fell by 16.64% to $976.1 million in 2026.
- The last three Operating Expenses figures came in at $976.1 million (Q2 2026), $971.6 million (Q1 2026), and $1.2 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 138.87 Bn | 131.01 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 85.57 Bn | 77.57 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 63.51 Bn | 58.32 Bn | 1.37 Bn | -1.05 Bn |
| 4 | Moderna | 58.19 Bn | 53.05 Bn | 52.00 Mn | 960.00 Mn |
| 5 | Revolution Medicines | 44.07 Bn | 44.07 Bn | - | 505.13 Mn |
| 6 | BeOne Medicines | 39.99 Bn | 34.89 Bn | 1.53 Bn | 1.21 Bn |
| 7 | Alnylam Pharmaceuticals | 35.38 Bn | 32.07 Bn | 992.69 Mn | 1.06 Bn |
| 8 | Royalty Pharma | 28.42 Bn | 27.58 Bn | - | 541.02 Mn |
| 9 | Insmed | 27.41 Bn | 26.25 Bn | 358.27 Mn | 427.03 Mn |
| 10 | Incyte | 25.64 Bn | 21.11 Bn | 1.57 Bn | 976.14 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 976.14 Mn |
| Mar 31, 2026 | 971.56 Mn |
| Dec 31, 2025 | 1.17 Bn |
| Sep 30, 2025 | 922.46 Mn |
| Jun 30, 2025 | 685.22 Mn |
| Mar 31, 2025 | 847.73 Mn |
| Dec 31, 2024 | 877.19 Mn |
| Sep 30, 2024 | 991.79 Mn |
| Jun 30, 2024 | 1.52 Bn |
| Mar 31, 2024 | 788.99 Mn |
| Dec 31, 2023 | 826.07 Mn |
| Sep 30, 2023 | 704.32 Mn |
| Jun 30, 2023 | 760.83 Mn |
| Mar 31, 2023 | 783.90 Mn |
| Dec 31, 2022 | 856.61 Mn |
| Sep 30, 2022 | 684.93 Mn |
| Jun 30, 2022 | 656.97 Mn |
| Mar 31, 2022 | 616.70 Mn |
| Dec 31, 2021 | 752.12 Mn |
| Sep 30, 2021 | 577.58 Mn |