Incyte (INCY) Operating Margin (2010 - 2026)
Incyte (INCY) reported Operating Margin of 23.66% for Q1 2026, up 417.0% on a YoY basis from 4.58% in Q1 2025, and up 6.15% quarter-over-quarter from 22.29% in Q4 2025.
Incyte (INCY) Operating Margin (2010 - 2026) Analysis & Trends
Incyte has reported Operating Margin for 17 years, with the latest figure at 23.66% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin rose 417.0% year-over-year to 23.66%; the trailing twelve-month figure through Mar 2026 stood at 30.05% (up 2609.0% YoY), and the FY2025 full-year result was 29.46%, up 2802.0% from the prior year.
- Operating Margin for Q1 2026 stood at 23.66%, up from 22.29% in the prior quarter.
- The five-year high for Operating Margin was 43.63% in Q2 2025, with the low at 45.81% in Q2 2024.
- Historically, Operating Margin has averaged 16.35% across 5 years, with a median of 19.49% in 2025.
- Annual changes were most pronounced in 2024 — Operating Margin tumbled 6611 bps — and 2025, when it surged 8944 bps.
- Incyte's Operating Margin stood at 7.56% in 2022, then soared by 144 bps to 18.48% in 2023, then surged by 38 bps to 25.58% in 2024, then declined by 13 bps to 22.29% in 2025, then advanced by 6 bps to 23.66% in 2026.
- The last three Operating Margin figures came in at 23.66% (Q1 2026), 22.29% (Q4 2025), and 32.47% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alterity Therapeutics | 925,601.88 Bn | 925,601.85 Bn | - | - |
| 2 | Belite Bio | 58,560.00 Bn | 58,560.00 Bn | - | - |
| 3 | Quantum Biopharma | 17,284.41 Bn | 17,284.40 Bn | - | - |
| 4 | Legend Biotech | 2,809.00 Bn | 2,808.71 Bn | 242.10 Mn | -6.43% |
| 5 | Evaxion A | 1,334.43 Bn | 1,334.42 Bn | - | - |
| 6 | Akari Therapeutics | 1,312.27 Bn | 1,312.26 Bn | - | - |
| 7 | Psyence Biomedical | 212.16 Bn | 212.16 Bn | - | - |
| 8 | Vertex Pharmaceuticals | 114.83 Bn | 107.58 Bn | 2.59 Bn | 38.10% |
| 9 | Abivax | 91.96 Bn | 91.96 Bn | - | - |
| 10 | Incyte | 19.62 Bn | 15.60 Bn | 1.17 Bn | 23.66% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 23.66% |
| Dec 31, 2025 | 22.29% |
| Sep 30, 2025 | 32.47% |
| Jun 30, 2025 | 43.63% |
| Mar 31, 2025 | 19.49% |
| Dec 31, 2024 | 25.58% |
| Sep 30, 2024 | 12.84% |
| Jun 30, 2024 | -45.81% |
| Mar 31, 2024 | 10.43% |
| Dec 31, 2023 | 18.48% |
| Sep 30, 2023 | 23.36% |
| Jun 30, 2023 | 20.30% |
| Mar 31, 2023 | 3.06% |
| Dec 31, 2022 | 7.56% |
| Sep 30, 2022 | 16.81% |
| Jun 30, 2022 | 27.92% |
| Mar 31, 2022 | 15.89% |
| Dec 31, 2021 | 12.83% |
| Sep 30, 2021 | 28.96% |
| Jun 30, 2021 | 19.96% |