IncyteMEX:INCY 82 PB Ratio is 4.08 as of Jul. 12, 2026, which is 30% below its 10-year median of 5.85. GuruFocus rates MEX:INCY with a GF Score™ of 82/100 and a GF Value™ of MXN1,812.99 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 1,231 Biotechnology companies, Incyte ranks worse than 62.63% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-12), Incyte's share price is MXN2067.00. Incyte's Book Value per Share for the quarter that ended in Mar. 2026 was MXN507.11. Hence, Incyte's PB Ratio of today is 4.08.
Warning Sign:
Incyte Corp stock PB Ratio (=4.15) is close to 1-year high of 4.47.
The historical rank and industry rank for Incyte's PB Ratio or its related term are showing as below:
MEX:INCY'
s PB Ratio Range Over the Past 10 Years
Min: 2.15 Med: 5.85 Max: 67.19
Current: 4.15
During the past 13 years, Incyte's highest PB Ratio was 67.19. The lowest was 2.15. And the median was 5.85.
MEX:INCY's PB Ratio is ranked worse than 62.63% of 1231
companies
in the Biotechnology industry
Industry Median: 2.93
vs MEX:INCY: 4.15
During the past 12 months, Incyte's average Book Value Per Share Growth Rate was 48.60% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 9.90% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 12.80% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 31.70% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Incyte was 114.30% per year. The lowest was -113.90% per year. And the median was 18.75% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Incyte PB Ratio Related Terms
Incyte PB Ratio Historical Data
* Premium members only.
The historical data trend for Incyte's 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.
For the Biotechnology subindustry, Incyte's PB Ratio, along with its competitors' market caps and 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 PB Ratio vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Incyte's PB Ratio distribution charts can be found below:
* The bar in red indicates where Incyte's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Incyte's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Incyte (MEX:INCY) has a PB Ratio of 4.08 as of Jul. 12, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Incyte and its competitors. This is 30% below median its historical median of 5.85. Over the past decade, Incyte's PB Ratio has ranged from 2.15 to 67.19. According to the industry distribution chart, Incyte ranks #771 out of 1231 companies in the Biotechnology industry, placing it in the top 62.6%.
Is Incyte's PB Ratio too high?
Incyte's current PB Ratio of 4.08 is 30% below median its 10-year median of 5.85. Over the past 10 years, this metric has ranged from a low of 2.15 to a high of 67.19. The Biotechnology industry median PB Ratio is 2.93. Incyte's value of 4.08 is 39.2% above this industry median. Based on the distribution chart, Incyte ranks #771 out of 1231 companies in the Biotechnology industry, which is below the industry midpoint. Overall, Incyte has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Incyte's PB Ratio compare to INSM and BNTX?
According to the Biotechnology industry distribution chart, Incyte ranks #771 out of 1231 companies for PB Ratio. This places Incyte in the lower half of its industry. The industry median PB Ratio is 2.93. Incyte's value of 4.08 is 39.2% above this benchmark. Historically, Incyte's own PB Ratio has ranged from 2.15 to 67.19 over the past decade. While the company's 10-year median is 5.85 vs. the industry median of 2.93, Incyte has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Biotechnology company?
The median PB Ratio among Biotechnology companies is 2.93, based on 1,231 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Incyte's current PB Ratio of 4.08 is 39.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Incyte and its competitors. For the Biotechnology industry, the median PB Ratio is 2.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Incyte's current PB Ratio is 4.08, which is 30% below median its own 10-year median of 5.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Incyte stock overvalued right now?
Based on GuruFocus' analysis, Incyte (MEX:INCY) is currently considered Modestly Overvalued. The stock's GF Value™ is MXN1,812.99, compared to a current price of MXN2,067.00 — trading 14% above its estimated fair value. The current PB Ratio is 4.08, which is 30% below median its 10-year median of 5.85 and 39.2% above the Biotechnology industry median of 2.93. Incyte's overall GF Score™ is 82/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Incyte (MEX:INCY), the current PB Ratio is 4.08 as of Jul. 12, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Incyte (MEX:INCY) Overvalued in 2026?
Based on GuruFocus' analysis, Incyte stock appears to be overvalued.
The current stock price of MXN2,067.00 is trading 14% above its estimated GF Value™ of MXN1,812.99.
GuruFocus considers Incyte to be Modestly Overvalued.
Key valuation signals for MEX:INCY:
PB Ratio: 4.08 (30% below median its 10-year median of 5.85)
GF Value™: MXN1,812.99 vs. price of MXN2,067.00 (14% above fair value)
Industry Position: 39.2% above the Biotechnology median (#771 of 1231)
No single metric tells the full story. See the MEX:INCY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Incyte focuses on the discovery and development of small-molecule drugs. The firm's leading 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 an array of oncology and dermatology programs.
82GF Score
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