Incyte balance sheet

At the end of fiscal 2025, Incyte had total assets of $6.96bn, total liabilities of $1.79bn and shareholders' equity of $5.17bn. It held $3.10bn in cash against $0 of debt: net cash of $3.10bn.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Incyte: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash and equivalents	0.4	0.4	0.3	0.2	0.5	0.5	0.5	0.7	0.9	1.2	1.8	1.5	2.1	3.0	3.2	1.7	3.1	3.3
Inventory	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1	0.1	0.1
Total current assets	—	0.5	0.3	0.3	0.6	0.7	0.8	1.0	1.5	1.8	2.5	2.4	3.1	4.1	4.6	3.2	5.0	5.5
Goodwill	—	—	—	—	—	—	—	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.1	0.1
Total assets	—	0.5	0.3	0.3	0.6	0.8	1.0	1.6	2.3	2.6	3.4	3.6	4.9	5.8	6.8	5.4	7.0	7.3
Accounts payable	—	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1	0.1	0.1	0.1	0.2	0.3	0.1	0.2	0.2	0.2
Deferred revenue (current)	—	0.1	0.0	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	—	0.1	0.1	0.1	0.1	0.2	0.2	0.3	0.4	0.4	0.5	0.6	0.9	1.2	1.2	1.6	1.5	1.4
Short-term debt	—	—	—	—	0.7	−0.1	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	—	0.3	0.3	0.4	0.8	0.8	0.7	0.7	0.0	19.1	—	—	—	—	—	—	—	—
Total debt	0.0	0.3	0.4	0.4	1.5	0.8	0.7	0.7	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total liabilities	—	0.6	0.6	0.5	0.8	0.9	0.8	1.2	0.7	0.7	0.8	0.9	1.2	1.5	1.6	2.0	1.8	1.6
Shareholders' equity	−0.1	−0.1	−0.2	−0.2	−0.2	−0.1	0.2	0.4	1.6	1.9	2.6	2.6	3.8	4.4	5.2	3.4	5.2	5.6
Net debt (negative = net cash)	−0.4	−0.1	0.1	0.2	1.0	0.4	0.2	0.1	−0.9	−1.1	−1.8	−1.5	−2.1	−3.0	−3.2	−1.7	−3.1	−3.3
Shares outstanding	—	123m	126m	133m	163m	171m	187m	189m	211m	213m	216m	219m	221m	223m	224m	193m	198m	204m

US$ millions unless shown otherwise. Fiscal quarters.

Incyte: balance sheet, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Inventory	59	64	83	83	101	116	113	134
Total current assets	3,239	3,507	3,644	4,278	5,024	5,484	6,027	5,521
Goodwill	156	156	156	156	133	133	133	133
Total assets	5,444	5,749	5,821	6,330	6,958	7,339	7,873	7,287
Accounts payable	197	196	241	172	210	229	250	235
Total current liabilities	1,642	1,720	1,279	1,339	1,515	1,490	1,312	1,438
Total liabilities	1,997	2,082	1,650	1,679	1,790	1,716	1,528	1,644
Shareholders' equity	3,448	3,668	4,171	4,651	5,167	5,623	6,344	5,643
Shares outstanding	193m	194m	194m	196m	198m	200m	201m	204m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

Compare with peers

Head to head: ARGX vs INCY INCY vs NBIX BIIB vs INCY

More: Biotechnology stocks compared, Health Care sector, rankings of US companies

Figures from Incyte's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Incyte.