Argenx vs Incyte
Incyte is the larger business, with $5.14bn of revenue in fiscal 2025 against $4.15bn for Argenx (1.2 times as much). Argenx grew faster (89.9% against 21.2%). Argenx kept more of each dollar of sales as profit: a net margin of 31.1% against 25.0%. Argenx carries less debt relative to equity (0.0% against 0.0%).
| Latest fiscal year | ArgenxARGX, 2025 | IncyteINCY, 2025 |
|---|---|---|
| Revenue | $4.15bn | $5.14bn |
| Revenue growth | 89.9% | 21.2% |
| Net income | $1.29bn | $1.29bn |
| Operating margin | 25.4% | 29.5% |
| Net margin | 31.1% | 25.0% |
| Return on equity | 20.2% | 29.9% |
| Free cash flow | $679m | $1.41bn |
| Cash | $3.49bn | $3.10bn |
| Total debt | $0 | $0 |
| Debt to equity | 0.0% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $0 |
| Employees | — | 2,844 |
| Market value | $55.65bn | $24.05bn |
| Price vs our value range | — | Above our value range |
| Moat score | — | 54 (Moderate) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 47 sales |