AMGN vs. INCY: Amgen vs. Incyte Stock Comparison

November 11, 2026

How do Amgen (AMGN) and Incyte (INCY) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Amgen (AMGN) and Incyte (INCY) are both classified in the Biotechnology sub-industry within the broader Biotechnology industry, placing them in the closest GICS peer bucket.

Company profile comparison for Amgen (AMGN) and Incyte (INCY)
Profile Item	AMGN	INCY
Name	Amgen Inc. Common Stock	Incyte Corp.
Country/Region	United States	United States
GICS Sector	Health Care	Health Care
GICS Industry Group	Pharmaceuticals, Biotechnology & Life Sciences	Pharmaceuticals, Biotechnology & Life Sciences
GICS Industry	Biotechnology	Biotechnology
GICS Sub-Industry	Biotechnology	Biotechnology
Market Capitalization	249.05 billion USD	24.39 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	June 17, 1983	November 4, 1993
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

AMGN

INCY

GSPC

Amgen (AMGN) vs. Incyte (INCY), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Amgen (AMGN) and Incyte (INCY). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Amgen (AMGN) and Incyte (INCY). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Amgen (AMGN) and Incyte (INCY)
Metric	AMGN	INCY
Total Return (1Y)	48.82%	14.06%
Total Return (3Y, Annualized)	24.31%	32.03%
Total Return (5Y, Annualized)	20.67%	12.69%

Risk Profile

Drawdown History

AMGN

INCY

GSPC

Amgen (AMGN) vs. Incyte (INCY), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Amgen (AMGN) and Incyte (INCY). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Amgen (AMGN) and Incyte (INCY)
Metric	AMGN	INCY
Volatility (1Y, Annualized)	29.12%	33.19%
Beta (5Y)	0.43	0.78
Max Drawdown (5Y)	-24.86%	-40.50%
Avg. Volume (3M)	2.76M	1.58M

Risk-Adjusted Performance

Risk-Return Positioning

AMGN and INCY are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Amgen (AMGN) and Incyte (INCY)
Metric	AMGN	INCY
Sharpe Ratio (1Y)	1.53	0.29
Sortino Ratio (1Y)	2.36	0.46

Profitability

ROE (TTM)

Both Amgen (AMGN) at 78.35% and Incyte (INCY) at 7.84% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

78.35%

Max: 109.18%
AMGN: 78.35%
Q3: 6.23%
Median: -26.66%
Q1: -64.05%
Min: -167.77%

INCY

Pharmaceuticals, Biotechnology & Life Sciences industry group

7.84%

Max: 109.18%
INCY: 7.84%
Q3: 6.23%
Median: -26.66%
Q1: -64.05%
Min: -167.77%

Amgen (AMGN) vs. Incyte (INCY): A comparison of their ROE against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Net Margin (TTM)

Amgen (AMGN) at 24.14% keeps the most of each sales dollar — above its industry’s net margin range — and Incyte (INCY) at 6.71% also retains a top-quartile share.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

24.14%

AMGN: 24.14%
Max: 18.05%
Q3: 4.78%
Median: 0.00%
Q1: -4.14%
Min: -17.05%

INCY

Pharmaceuticals, Biotechnology & Life Sciences industry group

6.71%

Max: 18.05%
INCY: 6.71%
Q3: 4.78%
Median: 0.00%
Q1: -4.14%
Min: -17.05%

Amgen (AMGN) vs. Incyte (INCY): A comparison of their net margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Operating Margin (TTM)

Both Amgen (AMGN) at 35.79% and Incyte (INCY) at 33.72% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

35.79%

Max: 83.12%
AMGN: 35.79%
Q3: 14.77%
Median: 0.00%
Q1: -78.82%
Min: -207.40%

INCY

Pharmaceuticals, Biotechnology & Life Sciences industry group

33.72%

Max: 83.12%
INCY: 33.72%
Q3: 14.77%
Median: 0.00%
Q1: -78.82%
Min: -207.40%

Amgen (AMGN) vs. Incyte (INCY): A comparison of their operating margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Profitability Metrics

Profitability metrics for Amgen (AMGN) and Incyte (INCY)
Metric	AMGN	INCY
ROE (TTM)	78.35%	7.84%
ROA (TTM)	8.91%	17.78%
Net Margin (TTM)	24.14%	6.71%
Operating Margin (TTM)	35.79%	33.72%
Gross Margin (TTM)	72.47%	56.02%

Growth

Revenue Growth

Both Amgen (AMGN) at 9.95% and Incyte (INCY) at 21.22% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Amgen (AMGN) vs. Incyte (INCY): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both companies show strong earnings momentum, but Incyte (INCY) at 4,173.33% is the standout with EPS growth above its industry range; Amgen (AMGN) at 88.23% also sits in the top quartile.

Amgen (AMGN) vs. Incyte (INCY): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Amgen (AMGN) and Incyte (INCY)
Metric	AMGN	INCY
Revenue Growth (YoY)	9.95%	21.22%
Revenue Growth (3Y CAGR)	11.77%	14.84%
EPS Growth (YoY)	88.23%	4,173.33%
EPS Growth (3Y CAGR)	5.52%	61.56%

Financial Strength

Current Ratio (MRQ)

Incyte (INCY) at 3.84 keeps current ratio within its industry’s typical mid-range, while Amgen (AMGN) at 1.48 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for AMGN.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.48

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
AMGN: 1.48
Min: 0.10

INCY

Pharmaceuticals, Biotechnology & Life Sciences industry group

3.84

Max: 25.13
Q3: 12.13
Median: 5.52
INCY: 3.84
Q1: 2.47
Min: 0.10

Amgen (AMGN) vs. Incyte (INCY): A comparison of their current ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Debt / Equity (MRQ)

Incyte (INCY) at 0.01 keeps leverage in the lower quartile, while Amgen (AMGN) at 3.76 is above its industry debt-to-equity ratio range.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

3.76

AMGN: 3.76
Max: 1.42
Q3: 0.65
Median: 0.15
Q1: 0.02
Min: 0.00

INCY

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.01

Max: 1.42
Q3: 0.65
Median: 0.15
Q1: 0.02
INCY: 0.01
Min: 0.00

Amgen (AMGN) vs. Incyte (INCY): A comparison of their debt-to-equity ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Amgen (AMGN) and Incyte (INCY)
Metric	AMGN	INCY
Current Ratio (MRQ)	1.48	3.84
Debt / Equity (MRQ)	3.76	0.01
Net Debt / EBITDA	2.31	-1.88

Dividends

Dividend Yield (TTM)

Incyte (INCY) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Amgen (AMGN) reports a yield of 2.16%, ranking against industry peers normally.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

2.16%

AMGN: 2.16%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

INCY

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

INCY: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Amgen (AMGN) vs. Incyte (INCY): A comparison of their dividend yield against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Payout Ratio (TTM)

Incyte (INCY) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Amgen (AMGN) reports a payout of 57.62%, ranking against industry peers normally.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

57.62%

AMGN: 57.62%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

INCY

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

INCY: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Amgen (AMGN) vs. Incyte (INCY): A comparison of their payout ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Metrics

Dividend metrics for Amgen (AMGN) and Incyte (INCY)
Metric	AMGN	INCY
Dividend Yield (TTM)	2.16%	0.00%
Dividend Payout Ratio (TTM)	57.62%	0.00%

Valuation

P/E Ratio (TTM)

Amgen (AMGN) at 26.69 is near its industry’s usual P/E ratio, while Incyte (INCY) at 61.05 sits in the richer quartile — INCY needs stronger growth or earnings quality to justify the premium.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

26.69

Max: 85.34
Q3: 43.46
AMGN: 26.69
Median: 26.69
Q1: 13.30
Min: 0.07

INCY

Pharmaceuticals, Biotechnology & Life Sciences industry group

61.05

Max: 85.34
INCY: 61.05
Q3: 43.46
Median: 26.69
Q1: 13.30
Min: 0.07

Amgen (AMGN) vs. Incyte (INCY): A comparison of their P/E ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Amgen (AMGN) at 6.40 and Incyte (INCY) at 4.06 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

6.40

Max: 58.18
Q3: 25.77
Median: 7.30
AMGN: 6.40
Q1: 3.01
Min: 0.01

INCY

Pharmaceuticals, Biotechnology & Life Sciences industry group

4.06

Max: 58.18
Q3: 25.77
Median: 7.30
INCY: 4.06
Q1: 3.01
Min: 0.01

Amgen (AMGN) vs. Incyte (INCY): A comparison of their P/S ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

P/B Ratio (MRQ)

Incyte (INCY) at 4.33 sits near its industry’s typical P/B ratio, while Amgen (AMGN) at 17.35 prices above its benchmark range — AMGN looks rich relative to book.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

17.35

AMGN: 17.35
Max: 13.53
Q3: 6.54
Median: 3.25
Q1: 1.69
Min: -5.59

INCY

Pharmaceuticals, Biotechnology & Life Sciences industry group

4.33

Max: 13.53
Q3: 6.54
INCY: 4.33
Median: 3.25
Q1: 1.69
Min: -5.59

Amgen (AMGN) vs. Incyte (INCY): A comparison of their P/B ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Valuation Metrics

Valuation metrics for Amgen (AMGN) and Incyte (INCY)
Metric	AMGN	INCY
P/E Ratio (TTM)	26.69	61.05
P/S Ratio (TTM)	6.40	4.06
P/B Ratio (MRQ)	17.35	4.33
Free Cash Flow Yield (TTM)	2.96%	5.28%