BioMarin Pharmaceutical vs Incyte
Incyte reported revenue of $5.1 billion in fiscal 2025, 1.6 times BioMarin Pharmaceutical's $3.2 billion in fiscal 2025. BioMarin Pharmaceutical's revenue grew 12.9% in its latest year, and Incyte's grew 21.2%. BioMarin Pharmaceutical had an operating margin of 12.7%, against 29.5% at Incyte. Free cash flow was $725 million at BioMarin Pharmaceutical and $1.4 billion at Incyte.
Side by side
| BioMarin Pharmaceutical | Incyte | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $3.2B | $5.1B |
| Revenue growth | 12.9% | 21.2% |
| Revenue growth a year, last 5 years | 11.6% | 14.0% |
| Gross margin | 77.7% | 92.8% |
| Operating margin | 12.7% | 29.5% |
| Net margin | 10.8% | 25.0% |
| Free cash flow | $725M | $1.4B |
| Free cash flow margin | 22.5% | 26.4% |
| Return on capital | 5.8% | 79.4% |
| Net debt to EBITDA | −2.0x | −2.2x |
| Dividends and buybacks | $0M | $0M |
| Change in diluted share count | 0.3% | −4.7% |
| Last close | $55.75 | $113.31 |
| P/E at the last close | 150.7× | 16.0× |
| Insider trades, last 12 months | sold $4.3 million | sold $58.3 million |
| Piotroski F-score | 5 of 9 | 8 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
BioMarin PharmaceuticalIncyte
Operating margin
Percent of revenue
BioMarin PharmaceuticalIncyte
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
BioMarin PharmaceuticalIncyte
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the BioMarin Pharmaceutical and Incyte pages.