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Incyte (NAS:INCY) Cyclically Adjusted PB Ratio

: 5.94 (As of Today)
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As of today (2024-02-23), Incyte's current share price is $60.92. Incyte's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 was $10.26. Incyte's Cyclically Adjusted PB Ratio for today is 5.94.

The historical rank and industry rank for Incyte's Cyclically Adjusted PB Ratio or its related term are showing as below:

INCY' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 5.42   Med: 22.89   Max: 1233.83
Current: 5.88

During the past years, Incyte's highest Cyclically Adjusted PB Ratio was 1233.83. The lowest was 5.42. And the median was 22.89.

INCY's Cyclically Adjusted PB Ratio is ranked worse than
79.8% of 599 companies
in the Biotechnology industry
Industry Median: 1.72 vs INCY: 5.88

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 adjusted book value per share data 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.

Shiller PE for Stocks: The True Measure of Stock Valuation


Incyte Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Incyte's Cyclically Adjusted PB Ratio 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 PB Ratio
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 38.67 25.12 13.79 10.36 6.12

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 PB Ratio 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 10.36 8.58 6.87 5.97 6.12

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 PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=60.92/10.26
=5.94

* 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.

Incyte's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 is calculated as:

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.

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.


Incyte  (NAS:INCY) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Incyte Cyclically Adjusted PB Ratio Related Terms

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


Incyte (NAS:INCY) Business Description

Industry
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