Basis: Latest reported fiscal year. Source: stored company filings and market data; unavailable inputs remain N/A.
The forward PE ratio is 25.10 as of Wednesday, August 5, 2026.
Forward PE Ratio (25.10) = Close Price ($119.80) / Consensus Forward EPS ($4.80)
FORWARD PE RATIO
25.10
SECTOR MEDIAN · HEALTHCARE
19.59
median of 68 covered companies
CURRENT VS SECTOR MEDIAN
+28.13%
vs the sector median at left
Incyte Corporation
Market Cap
$24.28B
Forward PE Ratio
25.10
| NAME | MARKET CAP | FORWARD PE RATIO |
|---|---|---|
| Incyte Corporation (INCY) | $24.28B | 25.10 |
| West Pharmaceutical Services, Inc. (WST)vs › | $24.72B | 39.00 |
| BioNTech SE (BNTX)vs › | $23.16B | N/A |
| Labcorp Holdings Inc. (LH)vs › | $25.74B | 17.11 |
| STERIS plc (STE)vs › | $22.68B | 22.83 |
| Quest Diagnostics Incorporated (DGX)vs › | $26.03B | 20.88 |
| Waters Corporation (WAT)vs › | $26.07B | 27.55 |
| Moderna, Inc. (MRNA)vs › | $22.32B | N/A |
| United Therapeutics Corporation (UTHR)vs › | $22.03B | 18.62 |
| Viatris Inc. (VTRS)vs › | $20.55B | 7.21 |
Trailing P/E
15.4
reported TTM EPS
Forward P/E
25.1
consensus next-FY EPS
The gap between the two multiples is the consensus growth expectation: analysts' forward EPS of $4.80 implies -38.9% EPS decline vs the reported trailing $7.85.
At today's $119.80 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 | $4.80 | $4.51 – $5.42 | 10 | 24.9x |
| 2027-12-31 | $8.60 | $7.68 – $10.65 | 13 | 13.9x |
| 2028-12-31 | $9.12 | $6.60 – $11.75 | 9 | 13.1x |
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
