INCY vs. MRK: Incyte vs. Merck Stock Comparison
How do Incyte (INCY) and Merck (MRK) 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
Incyte (INCY) and Merck (MRK) both fall under the Pharmaceuticals, Biotechnology & Life Sciences industry group, but INCY is classified in Biotechnology while MRK is classified in Pharmaceuticals.
| Profile Item | INCY | MRK |
|---|---|---|
| Name | Incyte Corp. | Merck & Co., Inc. |
| 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 | Pharmaceuticals |
| GICS Sub-Industry | Biotechnology | Pharmaceuticals |
| Market Capitalization | 24.39 billion USD | 361.73 billion USD |
| Currency | USD | USD |
| Exchange | Nasdaq | NYSE |
| Listing Date | November 4, 1993 | January 2, 1962 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | INCY | MRK |
|---|---|---|
| Total Return (1Y) | 14.06% | 76.14% |
| Total Return (3Y, Annualized) | 32.03% | 16.48% |
| Total Return (5Y, Annualized) | 12.69% | 15.77% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | INCY | MRK |
|---|---|---|
| Volatility (1Y, Annualized) | 33.19% | 30.24% |
| Beta (5Y) | 0.78 | 0.11 |
| Max Drawdown (5Y) | -40.50% | -43.44% |
| Avg. Volume (3M) | 1.58M | 10.24M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | INCY | MRK |
|---|---|---|
| Sharpe Ratio (1Y) | 0.29 | 2.38 |
| Sortino Ratio (1Y) | 0.46 | 4.33 |
Profitability
ROE (TTM)
Incyte (INCY) at 7.84% sits in the top ROE quartile, while Merck (MRK) at 5.06% is closer to the peer norm — stronger capital efficiency for INCY.
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%
MRK
Pharmaceuticals, Biotechnology & Life Sciences industry group
5.06%
- Max
- 109.18%
- Q3
- 6.23%
- MRK
- 5.06%
- Median
- -26.66%
- Q1
- -64.05%
- Min
- -167.77%
Net Margin (TTM)
Incyte (INCY) at 6.71% retains a top-quartile share of revenue as profit, ahead of Merck (MRK) at 3.64%, which keeps about the industry-typical share.
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%
MRK
Pharmaceuticals, Biotechnology & Life Sciences industry group
3.64%
- Max
- 18.05%
- Q3
- 4.78%
- MRK
- 3.64%
- Median
- 0.00%
- Q1
- -4.14%
- Min
- -17.05%
Operating Margin (TTM)
Both Incyte (INCY) at 33.72% and Merck (MRK) at 35.22% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.
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%
MRK
Pharmaceuticals, Biotechnology & Life Sciences industry group
35.22%
- Max
- 83.12%
- MRK
- 35.22%
- Q3
- 14.77%
- Median
- 0.00%
- Q1
- -78.82%
- Min
- -207.40%
Profitability Metrics
| Metric | INCY | MRK |
|---|---|---|
| ROE (TTM) | 7.84% | 5.06% |
| ROA (TTM) | 17.78% | 11.29% |
| Net Margin (TTM) | 6.71% | 3.64% |
| Operating Margin (TTM) | 33.72% | 35.22% |
| Gross Margin (TTM) | 56.02% | 75.20% |
Growth
Revenue Growth
Both Incyte (INCY) at 21.22% and Merck (MRK) at 1.31% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.
EPS Growth
Incyte (INCY) at 4,173.33% clears its industry range for EPS growth, a much stronger earnings trajectory than Merck (MRK) at 8.01%, which is closer to a typical peer reading.
Growth Metrics
| Metric | INCY | MRK |
|---|---|---|
| Revenue Growth (YoY) | 21.22% | 1.31% |
| Revenue Growth (3Y CAGR) | 14.84% | 3.12% |
| EPS Growth (YoY) | 4,173.33% | 8.01% |
| EPS Growth (3Y CAGR) | 61.56% | 8.43% |
Financial Strength
Current Ratio (MRQ)
Incyte (INCY) at 3.84 keeps current ratio within its industry’s typical mid-range, while Merck (MRK) at 1.35 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for MRK.
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
MRK
Pharmaceuticals, Biotechnology & Life Sciences industry group
1.35
- Max
- 25.13
- Q3
- 12.13
- Median
- 5.52
- Q1
- 2.47
- MRK
- 1.35
- Min
- 0.10
Debt / Equity (MRQ)
Incyte (INCY) at 0.01 keeps leverage in the lower quartile, while Merck (MRK) at 1.20 sits in the higher-leverage quartile.
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
MRK
Pharmaceuticals, Biotechnology & Life Sciences industry group
1.20
- Max
- 1.42
- MRK
- 1.20
- Q3
- 0.65
- Median
- 0.15
- Q1
- 0.02
- Min
- 0.00
Financial Strength Metrics
| Metric | INCY | MRK |
|---|---|---|
| Current Ratio (MRQ) | 3.84 | 1.35 |
| Debt / Equity (MRQ) | 0.01 | 1.20 |
| Net Debt / EBITDA | -1.88 | 1.50 |
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 Merck (MRK) reports a yield of 2.29%, ranking against industry peers normally.
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%
MRK
Pharmaceuticals, Biotechnology & Life Sciences industry group
2.29%
- MRK
- 2.29%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Merck (MRK) reports payout ratio above 100% at 343.43%, meaning dividends exceeded current-period earnings; Incyte (INCY) pays no dividend (payout 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%
MRK
Pharmaceuticals, Biotechnology & Life Sciences industry group
343.43%
- MRK
- 343.43%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | INCY | MRK |
|---|---|---|
| Dividend Yield (TTM) | 0.00% | 2.29% |
| Dividend Payout Ratio (TTM) | 0.00% | 343.43% |
Valuation
P/E Ratio (TTM)
Both look expensive on trailing earnings: Incyte (INCY) at 61.05 sits in the richer P/E ratio quartile, and Merck (MRK) at 148.21 is richer still, above its industry range.
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
MRK
Pharmaceuticals, Biotechnology & Life Sciences industry group
148.21
- MRK
- 148.21
- Max
- 85.34
- Q3
- 43.46
- Median
- 26.69
- Q1
- 13.30
- Min
- 0.07
P/S Ratio (TTM)
On P/S ratio, both Incyte (INCY) at 4.06 and Merck (MRK) at 5.37 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.
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
MRK
Pharmaceuticals, Biotechnology & Life Sciences industry group
5.37
- Max
- 58.18
- Q3
- 25.77
- Median
- 7.30
- MRK
- 5.37
- Q1
- 3.01
- Min
- 0.01
P/B Ratio (MRQ)
Incyte (INCY) at 4.33 is valued about in line with its industry on P/B ratio, while Merck (MRK) at 8.06 carries an above-peer premium to book — MRK is pricier on assets.
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
MRK
Pharmaceuticals, Biotechnology & Life Sciences industry group
8.06
- Max
- 13.53
- MRK
- 8.06
- Q3
- 6.54
- Median
- 3.25
- Q1
- 1.69
- Min
- -5.59
Valuation Metrics
| Metric | INCY | MRK |
|---|---|---|
| P/E Ratio (TTM) | 61.05 | 148.21 |
| P/S Ratio (TTM) | 4.06 | 5.37 |
| P/B Ratio (MRQ) | 4.33 | 8.06 |
| Free Cash Flow Yield (TTM) | 5.28% | 3.88% |