Incyte vs Vertex Pharmaceuticals
Vertex Pharmaceuticals is the larger business, with $12.00bn of revenue in fiscal 2025 against $5.14bn for Incyte (2.3 times as much). Incyte grew faster (21.2% against 8.9%). Vertex Pharmaceuticals kept more of each dollar of sales as profit: a net margin of 32.9% against 25.0%.
| Latest fiscal year | IncyteINCY, 2025 | Vertex PharmaceuticalsVRTX, 2025 |
|---|---|---|
| Revenue | $5.14bn | $12.00bn |
| Revenue growth | 21.2% | 8.9% |
| Net income | $1.29bn | $3.95bn |
| Operating margin | 29.5% | — |
| Net margin | 25.0% | 32.9% |
| Return on equity | 29.9% | 22.5% |
| Free cash flow | $1.41bn | $3.19bn |
| Cash | $3.10bn | $5.08bn |
| Total debt | $0 | $0 |
| Debt to equity | 0.0% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $0 | $2.02bn |
| Employees | 2,844 | 6,400 |
| Market value | $24.05bn | $134.42bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 54 (Moderate) | 76 (Strong) |
| Insider trades, 12 months | 0 buys, 47 sales | 0 buys, 93 sales |