Incyte Corporation
$23.73B- Market cap
- $25.32B
- Debt
- +$1.51B
- Cash
- −$3.10B
Capital structure 94% equity / 6% debt · EV / Revenue 4.62x · EV / EBITDA 13.50x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 ·
Decision snapshot: INCY stock price vs LUMN: inconclusive Relative valuation is incomplete for this pair. Review the available filing metrics before drawing a conclusion.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at LUMN's multiple
Needs LUMN P/E.
Implied fair value · at INCY's multiple
Needs EPS (TTM) is negative, INCY P/E.
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple premium
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: INCY FY 2025 (ended Dec 31, 2025) · LUMN FY 2025 (ended Dec 31, 2025).
Trendline
Five fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 94% equity / 6% debt · EV / Revenue 4.62x · EV / EBITDA 13.50x
Capital structure 29% equity / 71% debt · EV / Revenue 1.89x · EV / EBITDA 9.42x
INCY carries the larger enterprise value at $23.73B against $23.42B; LUMN trades on the lower EV / Revenue multiple (1.89x vs 4.62x); LUMN on the lower EV / EBITDA (9.42x vs 13.50x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
INCYTE CORPORATION · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
LUMEN TECHNOLOGIES, INC. · implied price per share
Bear
-$11.13
Base
-$10.46
Bull
-$9.26
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
0.29x
-15.61x
Net debt / EBITDA
Leverage against operating earnings
-0.90x
6.61x
Cash and equivalents
Liquid reserves on the balance sheet
$3.10B
$1.00B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
AMGEN INC
INCY vs AMGN
GILEAD SCIENCES, INC.
INCY vs GILD
VERTEX PHARMACEUTICALS INC / MA
INCY vs VRTX
REGENERON PHARMACEUTICALS, INC.
INCY vs REGN
BIOGEN INC.
INCY vs BIIB
AT&T INC.
INCY vs T
T-Mobile US, Inc.
INCY vs TMUS
COMCAST CORP
INCY vs CMCSA
CROWN CASTLE INC.
INCY vs CCI
$1.51B
$17.44B
LLM-powered synthesis
An on-demand narrative read of the same deterministic data.
The deterministic comparison remains available. Sign in when you want an on-demand narrative synthesis of the same data.