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Incyte (NAS:INCY) Earnings Yield (Joel Greenblatt) %

: 7.99% (As of Dec. 2023)
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Incyte's Enterprise Value for the quarter that ended in Dec. 2023 was $10,465 Mil. Incyte's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $837 Mil. Incyte's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 7.99%.

The historical rank and industry rank for Incyte's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

INCY' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -2.02   Med: 0.6   Max: 9.87
Current: 9.87

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Incyte was 9.87%. The lowest was -2.02%. And the median was 0.60%.

INCY's Earnings Yield (Joel Greenblatt) % is ranked better than
95.9% of 1414 companies
in the Biotechnology industry
Industry Median: -15.075 vs INCY: 9.87

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Incyte's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 0.00%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.


Incyte Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Incyte's Earnings Yield (Joel Greenblatt) % 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
Earnings Yield (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.91 -1.33 4.11 3.62 7.99

Incyte Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Earnings Yield (Joel Greenblatt) % 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 3.62 3.93 5.33 6.83 7.99

Competitive Comparison

For the Biotechnology subindustry, Incyte's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % 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 Earnings Yield (Joel Greenblatt) % Distribution

For the Biotechnology industry and Healthcare sector, Incyte's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Incyte's Earnings Yield (Joel Greenblatt) % falls into.



Incyte Earnings Yield (Joel Greenblatt) % Calculation

In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.

Incytes Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=836.766/10465.22473
=8.00 %

Incyte's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $837 Mil.



Incyte  (NAS:INCY) Earnings Yield (Joel Greenblatt) % Explanation

Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.

Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.


Be Aware

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.


Incyte Earnings Yield (Joel Greenblatt) % Related Terms

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Incyte (NAS:INCY) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Incyte Corp (NAS:INCY) » Definitions » Earnings Yield (Joel Greenblatt) %
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

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