Incyte (INCY) FY2017 results: revenue $1.5 billion, up 38.9% on the year
Incyte Corp. (INCY) reported revenue of $1.5 billion for fiscal 2017, the year ended 31 December 2017, up 38.9% on the year before. Net income was -$313 million, and diluted earnings per share $-1.53. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2018.
Revenue
$1.5 billion
+38.9% on the year
FY2010FY2017
Operating margin
-15.9%
13.1% a year earlier
FY2010FY2017
Net income
-$313 million
FY2010FY2017
Diluted EPS
-$1.53
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,536
1,106
754
+38.9%
Cost of revenue
79.5
58.2
27.0
+36.6%
Gross profit
1,457
1,048
727
+39.1%
Gross margin
94.8%
94.7%
96.4%
Research and development
1,326
582
480
+128.0%
Selling, general and administrative
366
303
197
+20.8%
Operating income
-244
145
50.7
Operating margin
-15.9%
13.1%
6.7%
Interest expense
6.9
38.7
45.6
-82.2%
Pre-tax income
-312
107
7.6
Income tax
0.9
3.2
1.0
-73.2%
Effective tax rate
n/a
3.0%
13.6%
Net income
-313
104
6.5
Net margin
-20.4%
9.4%
0.9%
Diluted EPS
-$1.53
$0.54
$0.03
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
-93.0
305
89.4
Capital expenditure
111
120
26.0
-7.7%
Free cash flow
-204
184
63.4
Free cash flow margin
-13.3%
16.7%
8.4%
Cash from investing
-350
-232
-105
Cash from financing
690
44.6
84.7
+1,446.7%
Depreciation and amortisation
52.2
58.4
44.9
-10.7%
Share-based compensation
133
96.2
69.9
+38.3%
Diluted shares, weighted
205m
194m
187m
+5.4%
Shares outstanding at period end
211m
189m
187m
+11.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,631
419
171
+288.7%
Debt
26.8
750
750
-96.4%
Other liabilities
645
469
86.5
+37.5%
Total liabilities and equity
2,303
1,639
1,007
+40.5%
Fixed assets
260
168
86.0
+54.9%
Goodwill
156
156
n/a
0.0%
Intangible assets
237
270
12.3
-12.4%
Investments
404
188
222
+114.9%
Cash and equivalents
900
652
521
+37.9%
Inventory
6.5
4.1
1.8
+57.9%
Other assets
340
200
164
+69.7%
Total assets
2,303
1,639
1,007
+40.5%
10-K for the year ended 31 December 2017, filed 15 February 2018: the filing.