Using the PEG framework with analyst consensus forward EPS growth of 8.0%, Incyte Corporation has a fair value of $59.97 based on NTM EPS (FY2026) of $7.50.
| EPS Growth RateForward | -8.8% |
| Adjusted Growth (clamped 8–25%)Clamped | 8.0% |
| Fair P/E | 8.0x |
| NTM EPS (FY2026) | $7.50 |
| Fair Value | $59.97 |
| Period | EPS Est. | Growth | Analysts |
|---|---|---|---|
| FY2025 (actual) | $6.41 | — | — |
| FY2026E | $7.50 | +16.9% | 17 |
| FY2027E | $8.95 | +19.4% | 17 |
| FY2028E | $9.60 | +7.2% | 18 |
| FY2029E | $3.52 | -63.3% | 11 |
| FY2030E | $4.03 | +14.6% | 9 |
5Y Forward EPS CAGR: -8.8%
The PEG Fair Value uses the Price/Earnings-to-Growth framework. A stock is fairly valued when its P/E ratio equals its earnings growth rate (PEG = 1.0). This model adds dividend yield to the growth rate per the original PEGY formula.
Growth rate priority: analyst consensus forward EPS CAGR (when ≥ 3 analysts cover the stock), falling back to historical EPS CAGR. Using EPS rather than net income avoids distortion from share buybacks. The growth rate is clamped between 8% and 25% — below 8% would undervalue stable earners, while above 25% would overvalue unsustainable spikes.
| Year | Net Income | EPS | YoY |
|---|
| FY2021 | $948.6M | $4.27 | — |
| FY2022 | $340.7M | $1.52 | -64.4% |
| FY2023 | $597.6M | $2.65 | +74.3% |
| FY2024 | $32.6M | $0.15 | -94.3% |
| FY2025 | $1.3B | $6.41 | +4173.3% |
4Y Historical EPS CAGR: 10.7%