INCY FY 2023 Earnings Report — Incyte Corporation Revenue & Financial Results | Market Cap Arena

Incyte CorporationINCY

FY 2023 Earnings

Reported February 16, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$3.7B	—	$3.4B	—	8.9%
Op. Income	$652M	—	$600M	—	8.7%
Gross Margin	91.5%	—	92.5%	—	-1.1pp
Net Margin	16.2%	—	10.0%	—	6.1pp
EPS (Diluted)	$2.65	—	$1.52	—	74.3%
Free Cash Flow	$449M	—	$892M	—	-49.7%

Revenue Flow

Item	Amount
REVENUE	$3.7B
Cost of Revenue	$315M
GROSS PROFIT	$3.4B
R&D Expenses	$1.6B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.1B
Other Expenses	$0
Operating Expenses	$2.7B
Cost & Expenses	$3.0B
OPERATING INCOME	$652M
Interest Income	$0
Interest Expense	$3M
Other Income/Expenses	$182M
INCOME BEFORE TAX	$834M
Income Tax Expense	$237M
Net Income from Continuing Ops	$598M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$598M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$598M
D&A	$83M
EBIT	$837M
EBITDA	$919M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$3.7B
Cost of Revenue	$315M
GROSS PROFIT	$3.4B
R&D Expenses	$1.6B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.1B
Other Expenses	$0
Operating Expenses	$2.7B
Cost & Expenses	$3.0B
OPERATING INCOME	$652M
Interest Income	$0
Interest Expense	$3M
Other Income/Expenses	$182M
INCOME BEFORE TAX	$834M
Income Tax Expense	$237M
Net Income from Continuing Ops	$598M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$598M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$598M
D&A	$83M
EBIT	$837M
EBITDA	$919M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$598M
Depreciation & Amortization	$83M
Stock-Based Compensation	$216M
Deferred Income Tax	-$159M
Other Non-Cash Items	$8M
Change in Working Capital	-$249M
OPERATING CASH FLOW	$496M
Capital Expenditure	-$47M
Acquisitions (Net)	$47M
Purchases of Investments	-$466M
Sales/Maturities of Investments	$306M
Other Investing Activities	-$47M
NET CASH FROM INVESTING	-$208M
Net Debt Issuance	-$3M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$53M
NET CASH FROM FINANCING	-$20M
FREE CASH FLOW	$449M
Net Change in Cash	$262M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.2B
Short-Term Investments	$443M
Net Receivables	$744M
Inventory	$63M
Other Current Assets	$183M
TOTAL CURRENT ASSETS	$4.6B
PP&E (Net)	$777M
Goodwill	$156M
Intangible Assets	$124M
Long-Term Investments	$188M
Tax Assets	$632M
Other Non-Current Assets	$261M
TOTAL NON-CURRENT ASSETS	$2.1B
TOTAL ASSETS	$6.8B
Account Payables	$110M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$545M
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$323M
TOTAL NON-CURRENT LIABILITIES	$352M
TOTAL LIABILITIES	$1.6B
Common Stock	$224.0K
Additional Paid-In Capital	$5.0B
Retained Earnings	$160M
Treasury Stock	$0
Accum. Other Comp. Income	$13M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.2B
Minority Interest	$0
TOTAL EQUITY	$5.2B
TOTAL LIABILITIES & EQUITY	$6.8B
Total Debt	$38M
Net Debt	-$3.2B