INCYTE CORP（INCY）の決算・業績分析
INCYTE CORPの2025年有価証券報告書をAI分析。売上高$5.1B(+21.2%)。営業利益$1.5B。Industrials。
目次
INCYTE CORPの2025年度 業績サマリー
INCYTE CORP（証券コード: INCY）の2025年度決算・業績分析。売上高は$5.1B（前年比+21.2%）。営業利益は$1.5B（前年比+2368.6%）。純利益は$1.3B（前年比+3845.0%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
INCYTE CORPの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 13.7% YoY to $3.4B (XBRL), driven by 14.5% CAGR over 5 years (XBRL).
- Net income fell 64.1% YoY to $341M (XBRL), despite EBITDA rising 19.1% (XBRL).
- Strong liquidity with $3.2B cash (XBRL) and 3.75x current ratio (XBRL).
- R&D investment reached $1.6B (XBRL), reflecting focus on innovation.
INCYTE CORPの売上高変化の要因
- •Revenue grew to $3.4B (XBRL) in FY2024, up from $3.0B in FY2023 (+13.7% YoY (XBRL)). The 5-year CAGR of 14.5% (XBRL) reflects sustained growth, though FY2022 showed a temporary dip to $2.7B. Operating income declined slightly to $579M (XBRL) from $586M in FY2023 (-1.1% YoY (XBRL)), while net income fell sharply to $341M (XBRL) from $949M in FY2023 (-64.1% YoY (XBRL)).
INCYTE CORPの営業利益変化の要因
- •Operating margin remained stable at 17.1% (XBRL), but net margin declined to 10.0% (XBRL) from 31.6% in FY2023 (calculated from $949M net income on $3.0B revenue). EBITDA margin improved to 19.1% (XBRL), up from 19.5% in FY2023. R&D expense of $1.6B (XBRL) represents 47% of revenue, highlighting heavy investment in innovation.
INCYTE CORPの事業リスクと対応
N/A (10-K text does not provide specific risk factors or descriptions)
N/A (No new risk factors or changes in risk landscape are explicitly mentioned in the 10-K text)
N/A (No risks are quantified with dollar amounts or probabilities in the XBRL data or 10-K text)
N/A (No regulatory, legal, or geopolitical risks are detailed in the 10-K text)
N/A (No competitive, technology, or market-related risks are explicitly mentioned in the XBRL data or 10-K text)
INCYTE CORPの事業内容
Incyte Corp operates in the pharmaceutical industry, focusing on innovative therapies for serious diseases. While specific products and segments are not disclosed in the XBRL data (N/A), the company's financials indicate a revenue model centered on high-margin drug sales. The balance sheet shows robust equity (55.6% equity ratio (XBRL)) and low leverage (0.42x debt-to-equity (XBRL)), suggesting a conservative capital structure.
INCYTE CORPのAI業績分析レポート（2024年度）
Incyte Corp (INCY) FY2024 Annual Report Analysis
Highlights
Business Overview
Incyte Corp operates in the pharmaceutical industry, focusing on innovative therapies for serious diseases. While specific products and segments are not disclosed in the XBRL data (N/A), the company's financials indicate a revenue model centered on high-margin drug sales. The balance sheet shows robust equity (55.6% equity ratio (XBRL)) and low leverage (0.42x debt-to-equity (XBRL)), suggesting a conservative capital structure.
Revenue Analysis
Revenue grew to $3.4B (XBRL) in FY2024, up from $3.0B in FY2023 (+13.7% YoY (XBRL)). The 5-year CAGR of 14.5% (XBRL) reflects sustained growth, though FY2022 showed a temporary dip to $2.7B. Operating income declined slightly to $579M (XBRL) from $586M in FY2023 (-1.1% YoY (XBRL)), while net income fell sharply to $341M (XBRL) from $949M in FY2023 (-64.1% YoY (XBRL)).
Profitability Analysis
Operating margin remained stable at 17.1% (XBRL), but net margin declined to 10.0% (XBRL) from 31.6% in FY2023 (calculated from $949M net income on $3.0B revenue). EBITDA margin improved to 19.1% (XBRL), up from 19.5% in FY2023. R&D expense of $1.6B (XBRL) represents 47% of revenue, highlighting heavy investment in innovation.
Balance Sheet Analysis
Total assets grew to $6.8B (XBRL) in FY2024, with equity increasing to $3.8B (XBRL) from $2.6B in FY2022. Cash reserves of $3.2B (XBRL) provide strong liquidity. The current ratio of 3.75x (XBRL) indicates ample short-term liquidity, while the debt-to-equity ratio of 0.42x (XBRL) suggests conservative leverage.
Cash Flow Analysis
Operating cash flow rose to $970M (XBRL), up from $749M in FY2023. Free cash flow (FCF) totaled $921M (XBRL), achieved through $49M CapEx (XBRL). Investing cash flow was -$79M (XBRL), reflecting capital expenditures, while financing cash flow was -$794,000 (XBRL). No share repurchases occurred (XBRL).
Working Capital Analysis
Cash conversion cycle (CCC) was -2 days (XBRL), indicating efficient working capital management. Receivables days: 80 (XBRL); Inventory days: 111 (XBRL); Payables days: 193 (XBRL).
Risks
Outlook
N/A (Management guidance and forward-looking trends are not explicitly mentioned in the 10-K text)
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 1.9B | 2.2B | 2.7B | 3.0B | 3.4B | 3.7B |
| Operating Income | 129M | 402M | -264M | 586M | 579M | 621M |
| Net Income | 109M | 447M | -296M | 949M | 341M | 598M |
| Total Assets | 3.4B | 3.6B | 4.9B | 5.8B | 6.8B | 5.4B |
| Total Equity | 1.6B | 1.9B | 2.6B | 2.6B | 3.8B | 4.4B |
| Operating Cash Flow | 336M | 711M | -125M | 749M | 970M | 496M |
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