Jun 2026 (Q2 FY26) — Jul 28, 2026
Incyte Q2 FY26 — Strong Growth Across Portfolio and Pipeline Advancement
Read the full callIncyte earnings: last reported Tue, 28 Jul 2026, for the quarter ended Jun 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,273 | +20.9% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 23.7 | +4.2 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 303 | +91.7% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
Price
1Y: $85.96 on 14 Oct 2025 → $113.27. High $129.93 (28 Jul 2026), low $85.96 (14 Oct 2025).
Overview
Call summaries
Incyte Q2 FY26 — Strong Growth Across Portfolio and Pipeline Advancement
Read the full callIncyte Q1 FY26 — Strong Portfolio Growth and Pipeline Advancement
Read the full callEvery analysed call
Financials
Net profit, year on year: +92% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,044 | 1,138 | 1,179 | 1,053 | 1,216 | 1,366 | 1,507 | 1,273 |
| Expenses | 1,522 | 992 | 877 | 848 | 685 | 922 | 1,171 | 972 |
| Operating profit | -478 | 146 | 302 | 205 | 530 | 444 | 336 | 301 |
| Operating margin | −45.8% | 12.8% | 25.6% | 19.5% | 43.6% | 32.5% | 22.3% | 23.7% |
| Interest | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | -390 | 157 | 314 | 234 | 558 | 482 | 390 | 344 |
| Tax rate | −14.1% | 32.0% | 35.9% | 32.5% | 27.4% | 12.1% | 23.3% | 11.7% |
| Net profit | -445 | 106 | 201 | 158 | 405 | 424 | 299 | 303 |
| EPS ($ per share) | -2.04 | 0.55 | — | 0.82 | 2.09 | 2.17 | — | 1.52 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | -1,878 | -1,431 | -1,726 | -778 | -437 | 160 | -1,073 | 214 |
| Total liabilities | 720 | 828 | 950 | 1,163 | 1,471 | 1,592 | 1,997 | 1,790 |
| Fixed assets | 320 | 378 | 560 | 724 | 739 | 752 | 763 | 731 |
| Investments | 274 | 285 | — | — | — | — | — | — |
| Total assets | 2,646 | 3,427 | 3,561 | 4,933 | 5,841 | 6,782 | 5,444 | 6,958 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 336 | 711 | -125 | 749 | 970 | 496 | 335 | 1,413 |
| Cash from investing | -86 | -87 | -269 | -208 | -79 | -208 | 158 | -103 |
| Cash from financing | 15 | 46 | 72 | 6 | -1 | -20 | -2,022 | 101 |
| Net cash flow | 265 | 669 | -319 | 544 | 894 | 262 | -1,526 | 1,410 |
| Capital expenditure | -73 | -78 | -187 | -181 | -78 | — | — | — |
| Free cash flow | 263 | 633 | -312 | 568 | 892 | — | — | — |
| Segment | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Reportable | — | — | 100% | 100% | 100% | 100% | 100% | 100% | +37.7% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Q2 FY2026 · share of revenue
As INCY cuts its regions in its filings; they can nest, so they need not add to 100%.
155 filings between Nov 3, 2025 and Oct 1, 2026.
Purchases
None
No insider bought shares.
Sales
$57.96M
46 sales by 10 insiders
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Hoppenot Herve | — | $19.77M | Nov 10, 2025 |
| CAGNONI PABLO J | — | $14.10M | Sep 15, 2026 |
| Stein Steven H | — | $7.86M | Jul 16, 2026 |
| Mayes Patrick A | — | $6.56M | Aug 5, 2026 |
| Morrissey Michael James | — | $5.68M | Dec 17, 2025 |
| Clancy Paul J | — | $1.42M | May 19, 2026 |
| Issa Mohamed Khairie | — | $1.31M | Jul 16, 2026 |
| Tray Thomas | — | $879.0K | Jun 4, 2026 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 1, 2026 | Heeson Lee EVP, Head of Incyte Intl | Tax withheld | 463 | $54.2K |
| Sep 30, 2026 | HARRIGAN EDMUND Director | Award | 206 | $25.0K |
| Sep 30, 2026 | Clancy Paul J Director | Award | 203 | $24.6K |
| Sep 30, 2026 | BAKER BROS. ADVISORS LP Director | Award | 322 | $0 |
| Sep 30, 2026 | BAKER BROS. ADVISORS LP Director | Award | 322 | $0 |
| Sep 22, 2026 | Gardner David H EVP, Chief Strategy Officer | Tax withheld | 920 | $116.8K |
| Sep 15, 2026 | CAGNONI PABLO J President, Global Head of R&D | Option exercise 10b5-1 plan | 9,233 | $664.1K |
| Sep 15, 2026 | CAGNONI PABLO J President, Global Head of R&D | Option exercise 10b5-1 plan | 4,551 | $278.4K |
| Sep 15, 2026 | CAGNONI PABLO J President, Global Head of R&D | Sale 10b5-1 plan | 9,233 | $1.11M |
| Sep 15, 2026 | CAGNONI PABLO J President, Global Head of R&D | Option exercise 10b5-1 plan | 6,477 | $416.1K |
| Sep 15, 2026 | CAGNONI PABLO J President, Global Head of R&D | Sale 10b5-1 plan | 13,985 | $1.69M |
| Sep 15, 2026 | CAGNONI PABLO J President, Global Head of R&D | Option exercise 10b5-1 plan | 2,957 | $182.6K |
| Aug 25, 2026 | Basi Ramitpal K EVP, Human Resources | Tax withheld | 504 | $65.4K |
| Aug 19, 2026 | CAGNONI PABLO J President, Global Head of R&D | Sale 10b5-1 plan | 10,801 | $1.36M |
| Aug 12, 2026 | CAGNONI PABLO J President, Global Head of R&D | Sale 10b5-1 plan | 10,803 | $1.30M |
| Aug 5, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Sale 10b5-1 plan | 2,207 | $273.6K |
| Aug 5, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 2,207 | $235.0K |
| Aug 5, 2026 | CAGNONI PABLO J President, Global Head of R&D | Sale 10b5-1 plan | 10,640 | $1.31M |
| Aug 3, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 6,055 | $638.4K |
| Aug 3, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Sale 10b5-1 plan | 6,055 | $729.2K |
| Jul 31, 2026 | CAGNONI PABLO J President, Global Head of R&D | Sale 10b5-1 plan | 15,888 | $1.90M |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 2,293 | $207.7K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Sale 10b5-1 plan | 1,643 | $196.4K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 1,642 | $139.6K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 2,623 | $219.2K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Sale 10b5-1 plan | 2,864 | $342.0K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 3,023 | $251.5K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 85 | $9.0K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 326 | $34.4K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Sale 10b5-1 plan | 14,661 | $1.75M |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Sale 10b5-1 plan | 2,293 | $273.8K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 1,643 | $132.3K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Sale 10b5-1 plan | 4,695 | $560.5K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 2,864 | $222.4K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Sale 10b5-1 plan | 6,171 | $737.0K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 2,623 | $196.1K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 9,459 | $683.6K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 2,072 | $149.0K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Sale 10b5-1 plan | 326 | $39.7K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Sale 10b5-1 plan | 1,642 | $196.0K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 3,148 | $216.0K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 2,709 | $167.3K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Sale 10b5-1 plan | 85 | $10.4K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 2,284 | $146.7K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Sale 10b5-1 plan | 2,187 | $261.3K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Sale 10b5-1 plan | 5,332 | $636.7K |
| Jul 31, 2026 | Mayes Patrick A EVP & Chief Scientific Officer | Option exercise 10b5-1 plan | 2,918 | $178.5K |
| Jul 16, 2026 | Gardner David H EVP, Chief Strategy Officer | Award | 7,395 | $0 |
| Jul 16, 2026 | Stein Steven H CMO & Head of Late-Stage Dev. | Award 10b5-1 plan | 9,798 | $0 |
| Jul 16, 2026 | Hoffman Richard A. EVP & General Counsel | Award | 7,395 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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