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Incyte (NAS:INCY) Cyclically Adjusted Book per Share

: $10.26 (As of Dec. 2023)
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E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

Incyte's adjusted book value per share for the three months ended in Dec. 2023 was $23.139. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $10.26 for the trailing ten years ended in Dec. 2023.

During the past 12 months, Incyte's average Cyclically Adjusted Book Growth Rate was 32.20% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 43.70% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 59.30% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of Incyte was 80.80% per year. The lowest was -56.10% per year. And the median was -0.85% per year.

As of today (2024-02-29), Incyte's current stock price is $58.36. Incyte's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 was $10.26. Incyte's Cyclically Adjusted PB Ratio of today is 5.69.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Incyte was 1233.83. The lowest was 5.42. And the median was 22.84.


Incyte Cyclically Adjusted Book per Share Historical Data

The historical data trend for Incyte's Cyclically Adjusted Book per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Incyte Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Book per Share
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.26 3.46 5.32 7.76 10.26

Incyte Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Cyclically Adjusted Book per Share Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.76 8.43 9.05 9.68 10.26

Competitive Comparison

For the Biotechnology subindustry, Incyte's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Incyte Cyclically Adjusted PB Ratio Distribution

For the Biotechnology industry and Healthcare sector, Incyte's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Incyte's Cyclically Adjusted PB Ratio falls into.



Incyte Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Incyte's adjusted Book Value per Share data for the three months ended in Dec. 2023 was:

Adj_Book= Book Value per Share /CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=23.139/129.4194*129.4194
=23.139

Current CPI (Dec. 2023) = 129.4194.

Incyte Quarterly Data

Book Value per Share CPI Adj_Book
201403 -0.970 99.695 -1.259
201406 -1.016 100.560 -1.308
201409 -0.531 100.428 -0.684
201412 -0.478 99.070 -0.624
201503 -0.239 99.621 -0.310
201506 0.306 100.684 0.393
201509 0.477 100.392 0.615
201512 0.917 99.792 1.189
201603 1.215 100.470 1.565
201606 1.581 101.688 2.012
201609 1.965 101.861 2.497
201612 2.221 101.863 2.822
201703 4.722 102.862 5.941
201706 4.994 103.349 6.254
201709 8.330 104.136 10.352
201712 7.718 104.011 9.603
201803 7.684 105.290 9.445
201806 8.158 106.317 9.931
201809 8.474 106.507 10.297
201812 9.030 105.998 11.025
201903 9.731 107.251 11.742
201906 10.459 108.070 12.525
201909 11.248 108.329 13.438
201912 12.020 108.420 14.348
202003 8.932 108.902 10.615
202006 10.752 108.767 12.794
202009 10.922 109.815 12.872
202012 11.897 109.897 14.010
202103 12.406 111.754 14.367
202106 13.319 114.631 15.037
202109 14.255 115.734 15.941
202112 17.052 117.630 18.761
202203 17.448 121.301 18.616
202206 18.412 125.017 19.060
202209 19.000 125.227 19.636
202212 19.619 125.222 20.277
202303 20.006 127.348 20.331
202306 21.227 128.729 21.341
202309 22.005 129.860 21.930
202312 23.139 129.419 23.139

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.


Incyte  (NAS:INCY) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Incyte's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=58.36/10.26
=5.69

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Incyte was 1233.83. The lowest was 5.42. And the median was 22.84.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


Incyte Cyclically Adjusted Book per Share Related Terms

Thank you for viewing the detailed overview of Incyte's Cyclically Adjusted Book per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Incyte (NAS:INCY) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Incyte Corp (NAS:INCY) » Definitions » Cyclically Adjusted Book per Share
Traded in Other Exchanges
Address
1801 Augustine Cut-Off, Wilmington, DE, USA, 19803
Incyte focuses on the discovery and development of small-molecule drugs. The firm's lead drug, Jakafi, treats two types of rare blood cancer and graft versus host disease and is partnered with Novartis. Incyte's other marketed drugs include rheumatoid arthritis treatment Olumiant (licensed to Lilly), and oncology drugs Iclusig (chronic myeloid leukemia), Pemazyre (cholangiocarcinoma), Tabrecta (lung cancer), and Monjuvi (diffuse large B-cell lymphoma). The firm's first dermatology product, Opzelura, was approved in 2021 for atopic dermatitis and 2022 for vitiligo. Incyte's pipeline includes a broad array of oncology and dermatology programs.
Executives
Steven H Stein officer: EVP & Chief Medical Officer 1801 AUGUSTINE CUT-OFF, WILMINGTON DE 19803
Vijay K Iyengar officer: EVP GPS, BD, & Licensing 1801 AUGUSTINE CUT-OFF, WILMINGTON DE 19803
Thomas Tray officer: Principal Accounting Officer C/O INCYTE CORPORATION, 1801 AUGUSTINE CUT-OFF, WILMINGTON DE 19803
Sheila A. Denton officer: EVP & General Counsel 1801 AUGUSTINE CUT-OFF, WILMINGTON DE 19803
Paul J Clancy director C/O BIOGEN IDEC INC., 14 CAMBRIDGE CENTER, CAMBRIDGE MA 02142
Edmund Harrigan director C/O ACADIA PHARMACEUTICALS INC., 12830 EL CAMINO REAL, SUITE 400, SAN DIEGO CA 92130
Paula J Swain other: Exec VP, Human Resources C/O INCYTE CORPORATION, 3160 PORTER DRIVE, PALO LATO CA 94304
Pablo J Cagnoni officer: President, R&D ONYX PHARMACEUTICALS, INC., 249 E. GRAND AVE., SOUTH SAN FRANCISCO CA 94080
Maria E Pasquale officer: EVP & General Counsel C/O INCYTE CORPORATION, 1801 AUGUSTINE CUT-OFF, WILMINGTON DE 19803
Dashyant Dhanak officer: EVP & Chief Scientific Officer C/O INCYTE CORPORATION, 1801 AUGUSTINE CUT-OFF, WILMINGTON DE 19803
Susanne Schaffert director C/O RUBIUS THERAPEUTICS, INC., 399 BINNEY STREET, SUITE 300, CAMBRIDGE MA 02139
Barry P Flannelly officer: See Remarks ROUTE 141 AND HENRY CLAY ROAD, WILMINGTON DE 19880
Baker Bros. Advisors Lp director, 10 percent owner 860 WASHINGTON STREET, 3RD FLOOR, NEW YORK NY 10014
Jonathan Elliott Dickinson officer: EVP, General Manager, Europe CARE OF INCYTE CORPORATION, 1801 AUGUSTINE CUT OFF, WILMINGTON DE 19803
Wendy L Dixon director