Which has the lower trailing P/E, INCY or WAT?

INCY has the lower trailing P/E: INCY trades at 15.26 and WAT at 99.76. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, INCY or WAT?

Over the past five years, INCY grew revenue faster — INCY at a 16.43% CAGR versus WAT at 11.70%.

Is INCY or WAT more profitable?

INCY runs the higher net margin — INCY at 27.71% versus WAT at 3.58%.

How have INCY and WAT total returns compared?

Over the past 10 years, INCY delivered 2.81% and WAT delivered 9.79% annualized total return. Past performance doesn't predict future results.

Incyte Corporation (INCY) vs Waters Corporation (WAT)

A side-by-side comparison of Incyte Corporation and Waters Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of August 6, 2026. Differences are shown without an overall score or investment verdict.

INCY

Incyte Corporation

$24.28B

$119.80HealthcareAt close: Aug 5, 2026, 4:00 PM ET

WAT

Waters Corporation

$26.07B

$400.00HealthcareDelayed quote: Aug 5, 2026, 4:00 PM EDT

Total return — INCY vs WAT

growth of $100 · dividends reinvested · last 30y

INCY +1128.7%WAT +5356.3%WAT compounded faster

INCY WAT

INCY vs WAT: by the numbers

•WAT is the larger company ($26.07B vs $24.28B market cap).
•INCY trades at the lower trailing earnings multiple (15.26 vs 99.76 P/E), one valuation lens rather than an overall verdict.
•INCY converts more revenue to profit (27.71% vs 3.58% net margin).
•INCY grew revenue faster over the past five years (16.43% vs 11.70% CAGR).

Metrics side by side

Valuation

Metric	INCY	WAT
P/E ratio	15.26	99.76
Forward P/E	24.93	27.55
P/S ratio	4.29	8.46
P/B ratio	3.93	2.59
PEG ratio	0.72	75.61
EV / EBITDA	10.85	47.24
FCF yield	7.70%	1.01%

Profitability

Metric	INCY	WAT
Gross margin	92.62%	50.78%
Operating margin	31.57%	28.22%
Net margin	27.71%	3.58%
ROE	25.41%	1.09%
ROIC	20.58%	17.57%

Growth (annualized)

Metric	INCY	WAT
Revenue CAGR (5Y)	16.43%	11.70%
EPS CAGR (5Y)	21.19%	5.16%
FCF CAGR (5Y)	33.69%	-9.19%
Total return CAGR (5Y)	9.27%	0.14%

Frequently asked

Which has the lower trailing P/E, INCY or WAT?: INCY has the lower trailing P/E: INCY trades at 15.26 and WAT at 99.76. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, INCY or WAT?: Over the past five years, INCY grew revenue faster — INCY at a 16.43% CAGR versus WAT at 11.70%.
Is INCY or WAT more profitable?: INCY runs the higher net margin — INCY at 27.71% versus WAT at 3.58%.
How have INCY and WAT total returns compared?: Over the past 10 years, INCY delivered 2.81% and WAT delivered 9.79% annualized total return. Past performance doesn't predict future results.

Go deeper

Full INCY analysis Full WAT analysis Interactive comparison tool

Dig into the metrics

Incyte P/E ratio Waters P/E ratio Incyte dividend yield Waters dividend yield Incyte ROE Waters ROE Incyte operating margin Waters operating margin Incyte revenue growth Waters revenue growth Incyte free cash flow Waters free cash flow

Incyte & Waters appear in these rankings

Fastest Revenue Growth Stocks Highest ROE Stocks Highest ROIC Stocks Highest Operating Margin Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified August 6, 2026.