Incyte Valuation
Is INCY * undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
4/6Valuation Score 4/6
Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast
Share Price vs Fair Value
What is the Fair Price of INCY * when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: INCY * (MX$1486) is trading below our estimate of fair value (MX$4287.05)
Significantly Below Fair Value: INCY * is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for INCY *?
Key metric: As INCY * is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.
| What is INCY *'s PS Ratio? | |
|---|---|
| PS Ratio | 3.5x |
| Sales | US$4.08b |
| Market Cap | US$14.41b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 3.1x |
| Enterprise Value/EBITDA | 157.4x |
| PEG Ratio | 9.6x |
Price to Sales Ratio vs Peers
How does INCY *'s PS Ratio compare to its peers?
| Company | Forward PS | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 13.8x | ||
BMRN BioMarin Pharmaceutical | 4.5x | 7.7% | US$12.4b |
INSM Insmed | 39.5x | 49.4% | US$13.3b |
UTHR United Therapeutics | 6.1x | 7.7% | US$16.5b |
EXEL Exelixis | 5x | 8.4% | US$10.4b |
INCY * Incyte | 3.5x | 9.0% | Mex$13.8b |
Price-To-Sales vs Peers: INCY * is good value based on its Price-To-Sales Ratio (3.5x) compared to the peer average (13.5x).
Price to Sales Ratio vs Industry
How does INCY *'s PS Ratio compare vs other companies in the Global Biotechs Industry?
Price-To-Sales vs Industry: INCY * is good value based on its Price-To-Sales Ratio (3.5x) compared to the Global Biotechs industry average (9x).
Price to Sales Ratio vs Fair Ratio
What is INCY *'s PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PS Ratio | 3.5x |
| Fair PS Ratio | n/a |
Price-To-Sales vs Fair Ratio: Insufficient data to calculate INCY *'s Price-To-Sales Fair Ratio for valuation analysis.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | n/a | Mex$1,590.61 0% | 12.3% | Mex$1,970.31 | Mex$1,056.25 | n/a | 23 |
| Nov ’25 | Mex$1,486.00 | Mex$1,578.77 +6.2% | 12.5% | Mex$1,956.73 | Mex$1,048.97 | n/a | 23 |
| Oct ’25 | n/a | Mex$1,469.10 0% | 15.5% | Mex$1,811.30 | Mex$945.02 | n/a | 22 |
| Sep ’25 | Mex$1,292.00 | Mex$1,408.96 +9.1% | 15.6% | Mex$1,747.61 | Mex$911.80 | n/a | 21 |
| Aug ’25 | n/a | Mex$1,377.46 0% | 15.1% | Mex$1,639.45 | Mex$894.24 | n/a | 22 |
| Jul ’25 | n/a | Mex$1,218.17 0% | 15.5% | Mex$1,472.50 | Mex$870.11 | n/a | 22 |
| Jun ’25 | n/a | Mex$1,218.17 0% | 15.5% | Mex$1,472.50 | Mex$870.11 | n/a | 22 |
| May ’25 | n/a | Mex$1,251.38 0% | 14.7% | Mex$1,497.57 | Mex$884.93 | n/a | 21 |
| Apr ’25 | n/a | Mex$1,267.58 0% | 14.1% | Mex$1,534.25 | Mex$967.24 | n/a | 21 |
| Mar ’25 | n/a | Mex$1,297.87 0% | 13.6% | Mex$1,574.86 | Mex$992.84 | n/a | 21 |
| Feb ’25 | Mex$1,020.58 | Mex$1,311.88 +28.5% | 15.7% | Mex$1,583.40 | Mex$987.50 | n/a | 21 |
| Jan ’25 | n/a | Mex$1,324.38 0% | 15.6% | Mex$1,597.50 | Mex$996.29 | n/a | 21 |
| Dec ’24 | n/a | Mex$1,309.64 0% | 16.5% | Mex$1,599.32 | Mex$997.43 | n/a | 20 |
| Nov ’24 | n/a | Mex$1,387.76 0% | 16.5% | Mex$1,745.61 | Mex$1,033.11 | Mex$1,486.00 | 20 |
| Oct ’24 | n/a | Mex$1,400.56 0% | 13.3% | Mex$1,910.09 | Mex$1,089.09 | n/a | 19 |
| Sep ’24 | n/a | Mex$1,400.56 0% | 13.3% | Mex$1,910.09 | Mex$1,089.09 | Mex$1,292.00 | 19 |
| Aug ’24 | n/a | Mex$1,404.72 0% | 13.4% | Mex$1,922.19 | Mex$1,095.98 | n/a | 19 |
| Jul ’24 | n/a | Mex$1,422.83 0% | 14.6% | Mex$1,866.17 | Mex$1,027.25 | n/a | 18 |
| Jun ’24 | n/a | Mex$1,458.93 0% | 14.8% | Mex$1,929.53 | Mex$1,062.13 | n/a | 19 |
| May ’24 | n/a | Mex$1,602.28 0% | 15.5% | Mex$2,139.97 | Mex$1,096.96 | n/a | 19 |
| Apr ’24 | n/a | Mex$1,635.58 0% | 15.8% | Mex$2,176.68 | Mex$1,125.23 | n/a | 18 |
| Mar ’24 | n/a | Mex$1,647.23 0% | 15.6% | Mex$2,186.69 | Mex$1,167.47 | n/a | 18 |
| Feb ’24 | n/a | Mex$1,677.92 0% | 16.2% | Mex$2,259.54 | Mex$1,186.26 | Mex$1,020.58 | 18 |
| Jan ’24 | n/a | Mex$1,748.65 0% | 17.2% | Mex$2,442.51 | Mex$1,251.04 | n/a | 17 |
| Dec ’23 | n/a | Mex$1,730.89 0% | 17.2% | Mex$2,420.94 | Mex$1,239.99 | n/a | 17 |
| Nov ’23 | n/a | Mex$1,728.39 0% | 16.7% | Mex$2,346.67 | Mex$1,242.35 | n/a | 17 |
Analyst Forecast: Target price is less than 20% higher than the current share price.
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