Incyte Corporation
NASDAQ: INCY · HEALTHCARE · BIOTECHNOLOGY
Updated 2026-04-29
Incyte Corporation (INCY) Stock Valuation Analysis
Fair value estimate, historical valuation range, and quality signals for INCY.
Valued
Fundamentals support the current valuation. Strong combination of growth, quality, and price.
INCY historical valuation range
Where current P/E sits in INCY's own 5Y range.
INCY intrinsic value (DCF)
DCF-based fair value estimate vs current market price.
Intrinsic value calculated using discounted cash flow (DCF) model based on projected free cash flows, discount rate, and terminal growth assumptions. A positive margin of safety indicates the current price is below estimated fair value, providing a cushion against estimation error.
INCY valuation signals
Quick-read green flags, caution flags, and risks based on current metrics.
P/E Ratio — History
Current: 14.00x
P/S Ratio — History
Current: 3.69x
Is INCY overvalued in 2026?
Incyte Corporation (INCY) currently trades at $99.10 per share with a market capitalization of $19,798,411,000.00. Based on our multi-factor framework, the stock looks attractively valued with a Smart Value Score of 83/100. This score blends growth quality, financial health, and price attractiveness into a single institutional-grade read.
The stock trades at a P/E ratio of 14.0x, below its 5-year median of 17.3x. The PEG ratio of 0.35 suggests earnings growth is outpacing the multiple, a classic sign of undervaluation.
Looking at its own history, INCY is currently trading cheaper than 96% of the last 5Y on P/E. This places it in the 4th percentile of its historical range, a level that has historically coincided with attractive entry points.
Our discounted cash flow model estimates INCY's intrinsic value at $624.90 per share, against the current market price of $99.10. This implies a margin of safety of +84.18%. A meaningful cushion exists against model error, making this a reasonable risk-adjusted entry.
The Piotroski F-Score of 5/9 puts financial quality in a middling range, neither a standout strength nor an obvious red flag.
Bottom line: INCY looks attractively valued on our framework, with a Smart Value Score of 83/100. The combination of reasonable price, healthy growth, and quality fundamentals makes it worth serious consideration.
Frequently asked questions
Is INCY overvalued in 2026?
Based on a Smart Value Score of 83/100, INCY is not overvalued. Fundamentals support the current price and offer reasonable margin of safety.
What is INCY's fair value?
Our DCF model estimates INCY's intrinsic value at $624.90 per share, versus the current price of $99.10. This produces a margin of safety of +84.18%.
What P/E ratio does INCY trade at?
INCY trades at a P/E of 14.0x on trailing twelve-month earnings, compared to its 5-year median of 17.3x.
Is INCY a buy based on valuation?
WallStSmart does not issue buy or sell recommendations. Our Smart Value Score of 83/100 reflects the combined read on growth, quality, and price. The profile skews favorable for long-term accumulation.
How does INCY's valuation compare to its history?
On P/E, INCY currently sits in the 4th percentile of its own 5Y range. That is historically cheap relative to where it has traded over the period.
What is INCY's Smart Value Score?
INCY's Smart Value Score is 83/100. The Smart Value Score is a proprietary WallStSmart metric blending growth quality, financial health, and valuation attractiveness into a single 0-100 read. Scores above 75 are rare and indicate strong multi-factor alignment.