Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
The forward PE ratio is 33.97.
Forward PE Ratio (33.97) = Close Price ($127.81) / Consensus Forward EPS ($3.76)
FORWARD PE RATIO
33.97
SECTOR MEDIAN · HEALTHCARE
19.91
median of 68 covered companies
CURRENT VS SECTOR MEDIAN
+70.57%
vs the sector median at left
Incyte Corporation
Market Cap
$25.91B
Forward PE Ratio
33.97
| NAME | MARKET CAP | FORWARD PE RATIO |
|---|---|---|
| Incyte Corporation (INCY) | $25.91B | 33.97 |
| West Pharmaceutical Services, Inc. (WST)vs › | $24.85B | 39.38 |
| Quest Diagnostics Incorporated (DGX)vs › | $26.97B | 21.84 |
| Labcorp Holdings Inc. (LH)vs › | $27.58B | 18.35 |
| Mettler-Toledo International Inc. (MTD)vs › | $28.19B | 29.48 |
| STERIS plc (STE)vs › | $23.19B | 23.33 |
| Medline Inc. (MDLN)vs › | $28.97B | 22.71 |
| BioNTech SE (BNTX)vs › | $29.28B | N/A |
| United Therapeutics Corporation (UTHR)vs › | $21.78B | 19.63 |
| Waters Corporation (WAT)vs › | $30.72B | 28.18 |
Trailing P/E
16.3
reported TTM EPS
Forward P/E
34.0
consensus next-FY EPS
The gap between the two multiples is the consensus growth expectation: analysts' forward EPS of $3.76 implies -52.1% EPS decline vs the reported trailing $7.85.
At today's $127.81 close, each upcoming fiscal year's consensus EPS implies a different multiple — how quickly the price is "paid down" by expected earnings if the estimates hold.
| Fiscal year end | Consensus EPS | Estimate range | Analysts | Implied P/E |
|---|---|---|---|---|
| 2026-12-31 | $3.76 | $2.82 – $4.53 | 12 | 34.0x |
| 2027-12-31 | $8.54 | $7.51 – $10.42 | 14 | 15.0x |
| 2028-12-31 | $9.09 | $6.60 – $11.76 | 12 | 14.1x |
Source: FMP analyst consensus estimates, refreshed with the daily precompute. "n/m" = the consensus EPS is not positive, so a multiple is undefined. There is no forward P/E history chart here because charting one would require the estimates as they stood in the past, which we do not store — see the trailing P/E history for how the realized multiple has moved.
PE Ratio = Share Price / Diluted EPS (TTM)
The price-to-earnings ratio measures how much investors pay for each dollar of trailing earnings. A lower PE can indicate a cheaper valuation; a higher PE implies higher growth expectations.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute