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Incyte (NAS:INCY) E10

: $0.87 (As of Dec. 2023)
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E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Incyte's adjusted earnings per share data for the three months ended in Dec. 2023 was $0.890. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $0.87 for the trailing ten years ended in Dec. 2023.

During the past 12 months, Incyte's average E10 Growth Rate was 67.30% 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 E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Incyte was 39.90% per year. The lowest was -14.20% per year. And the median was 7.40% per year.

As of today (2024-02-29), Incyte's current stock price is $59.98. Incyte's E10 for the quarter that ended in Dec. 2023 was $0.87. Incyte's Shiller PE Ratio of today is 68.94.

During the past 13 years, the highest Shiller PE Ratio of Incyte was 261.53. The lowest was 66.28. And the median was 145.79.


Incyte E10 Historical Data

The historical data trend for Incyte's E10 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
E10
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -0.18 -0.29 0.30 0.52 0.87

Incyte Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
E10 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 0.52 0.55 0.65 0.75 0.87

Competitive Comparison

For the Biotechnology subindustry, Incyte's Shiller PE Ratio, along with its competitors' market caps and Shiller PE 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 Shiller PE Ratio Distribution

For the Biotechnology industry and Healthcare sector, Incyte's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Incyte's Shiller PE Ratio falls into.



Incyte E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

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 earnings per share data for the three months ended in Dec. 2023 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=0.89/129.4194*129.4194
=0.890

Current CPI (Dec. 2023) = 129.4194.

Incyte Quarterly Data

per share eps CPI Adj_EPS
201403 -0.210 99.695 -0.273
201406 -0.220 100.560 -0.283
201409 0.330 100.428 0.425
201412 -0.220 99.070 -0.287
201503 -0.110 99.621 -0.143
201506 0.050 100.684 0.064
201509 -0.220 100.392 -0.284
201512 0.290 99.792 0.376
201603 0.120 100.470 0.155
201606 0.180 101.688 0.229
201609 0.190 101.861 0.241
201612 0.050 101.863 0.064
201703 -0.960 102.862 -1.208
201706 -0.060 103.349 -0.075
201709 0.170 104.136 0.211
201712 -0.710 104.011 -0.883
201803 -0.190 105.290 -0.234
201806 0.240 106.317 0.292
201809 0.140 106.507 0.170
201812 0.320 105.998 0.391
201903 0.470 107.251 0.567
201906 0.480 108.070 0.575
201909 0.590 108.329 0.705
201912 0.510 108.420 0.609
202003 -3.330 108.902 -3.957
202006 1.320 108.767 1.571
202009 -0.070 109.815 -0.082
202012 0.680 109.897 0.801
202103 0.240 111.754 0.278
202106 0.670 114.631 0.756
202109 0.820 115.734 0.917
202112 2.540 117.630 2.795
202203 0.170 121.301 0.181
202206 0.720 125.017 0.745
202209 0.500 125.227 0.517
202212 0.130 125.222 0.134
202303 0.100 127.348 0.102
202306 0.900 128.729 0.905
202309 0.760 129.860 0.757
202312 0.890 129.419 0.890

Add all the adjusted EPS together and divide 10 will get our e10.


Incyte  (NAS:INCY) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Incyte's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=59.98/0.87
=68.94

* 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.

During the past 13 years, the highest Shiller P/E Ratio of Incyte was 261.53. The lowest was 66.28. And the median was 145.79.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Incyte E10 Related Terms

Thank you for viewing the detailed overview of Incyte's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


Incyte (NAS:INCY) Business Description

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