For the year ending 2025-12-31, INCY had $1,410,218K increase in cash & cash equivalents over the period. $1,354,631K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Total revenues | 5,141,242 | 4,241,217 | - | - |
| Cost of product revenues (including definite-lived intangible amortization) | 372,130 | 312,068 | - | - |
| Contract dispute settlement | 242,251 | - | - | - |
| Research and development - internal | 984,730 | 957,043 | - | - |
| Research and development - external | 967,848 | 866,005 | - | - |
| Other research and development | 97,574 | 783,800 | - | - |
| Sales and marketing | 1,094,754 | 945,428 | - | - |
| General and administrative | 281,452 | 296,729 | - | - |
| Asset impairment | 76,275 | - | - | - |
| (gain) loss on change in fair value of acquisition-related contingent consideration | -6,129 | 19,803 | - | - |
| (profit) and loss sharing under collaboration agreements | 0 | -1,025 | - | - |
| Other segment items | 228,209 | 28,751 | - | - |
| Net income | 1,286,650 | 32,615 | 597,599 | 340,660 |
| Depreciation and amortization | 93,286 | 89,248 | 82,660 | 67,855 |
| Stock-based compensation | 249,346 | 266,058 | 215,889 | 188,420 |
| Deferred income taxes | -247,685 | 85,553 | 158,898 | -57,091 |
| Other, net | -14,857 | 9,053 | -22,579 | -17,366 |
| Unrealized (gain) loss on long term investments | - | - | 43,893 | -87,590 |
| (gain) on equity investments | 21,310 | 116,025 | - | - |
| (gain) loss on change in fair value of acquisition-related contingent consideration | -6,129 | 19,803 | 29,202 | 12,149 |
| Asset impairment | 76,275 | - | - | - |
| Accounts receivable | 170,772 | 111,586 | 98,678 | 28,579 |
| Prepaid expenses and other assets | 156,237 | -10,365 | 42,491 | 30,739 |
| Inventory | 58,513 | 127,633 | 170,151 | 67,504 |
| Accounts payable | 6,562 | 88,159 | -167,945 | 105,436 |
| Accrued and other liabilities | -148,202 | 278,939 | 230,614 | 220,196 |
| Net cash provided by operating activities | 1,413,498 | 335,337 | 496,487 | 969,941 |
| Purchase of long term investments | 7,875 | 0 | 10,000 | 0 |
| Sale of equity investments | 8 | 284,781 | 45 | 0 |
| Capital expenditures | 58,867 | 86,263 | 32,486 | 77,833 |
| Payments for intangible assets | 25,000 | 13,900 | 15,000 | - |
| Purchases of marketable securities | 295,507 | 258,370 | 456,020 | 79,860 |
| Maturities of marketable securities | 284,631 | 231,269 | 305,784 | 79,151 |
| Net cash (used in) provided by investing activities | -102,610 | 157,517 | -207,677 | -78,542 |
| Repurchase of common stock | 0 | 2,004,790 | - | - |
| Excise tax paid on repurchase of common stock | 19,100 | - | - | - |
| Proceeds from issuance of common stock under stock plans | 221,762 | 49,301 | 35,836 | 61,115 |
| Tax withholdings related to restricted and performance share vesting | 76,818 | 40,302 | 28,550 | 26,301 |
| Payment of finance lease liabilities | 4,544 | 3,798 | 3,360 | 2,862 |
| Payment of contingent consideration | 20,261 | 21,958 | 23,959 | 32,746 |
| Net cash provided by (used in) financing activities | 101,039 | -2,021,547 | -20,033 | -794 |
| Effect of exchange rates on cash, cash equivalents, and restricted cash | -1,709 | 2,923 | -6,676 | 3,355 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 1,410,218 | -1,525,770 | 262,101 | 893,960 |
| Cash and cash equivalents at beginning of period | 1,689,451 | 3,215,221 | 2,953,120 | 2,059,160 |
| Cash and cash equivalents at end of period | 3,099,669 | 1,689,451 | 3,215,221 | 2,953,120 |
INCYTE CORP (INCY)
INCYTE CORP (INCY)