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Incyte vs Iqvia: revenue, profit, margins and growth compared

Incyte brought in $5.1B of revenue in fiscal 2025, Iqvia $16.3B in fiscal 2025. Revenue changed by +21.2% at Incyte and +5.9% at Iqvia on the year before, so Incyte grew faster. Incyte kept 25.0% of its revenue as net profit, Iqvia 8.3%.

Side by side, latest fiscal year

INCYIQV
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$5.1B$16.3B
Revenue growth+21.2%+5.9%
Net income$1.3B$1.4B
Net margin25.0%8.3%
Free cash flown/a$2.1B
Free cash flow marginn/a12.6%
Earnings per share (diluted)$6.41$7.84
Cash$3.1B$2B
Debtn/a$15.7B
Price to earnings19.334.5
Market value$25.1B$44.5B
Dividend yieldn/an/a
Rank by revenue in sector#60 of 523 · Health care#32 of 523 · Health care

Over the years

Revenue
INCY FY2018: $1.9BINCY FY2019: $2.2BINCY FY2020: $2.7BINCY FY2021: $3BINCY FY2022: $3.4BINCY FY2023: $3.7BINCY FY2024: $4.2BINCY FY2025: $5.1BIQV FY2018: $10.4BIQV FY2019: $11.1BIQV FY2020: $11.4BIQV FY2021: $13.9BIQV FY2022: $14.4BIQV FY2023: $15BIQV FY2024: $15.4BIQV FY2025: $16.3BFY18FY19FY20FY21FY22FY23FY24FY25
INCY $5.1BIQV $16.3B
Net income
INCY FY2018: $109.5MINCY FY2019: $446.9MINCY FY2020: -$295.7MINCY FY2021: $948.6MINCY FY2022: $340.7MINCY FY2023: $597.6MINCY FY2024: $32.6MINCY FY2025: $1.3BIQV FY2018: $259MIQV FY2019: $191MIQV FY2020: $279MIQV FY2021: $966MIQV FY2022: $1.1BIQV FY2023: $1.4BIQV FY2024: $1.4BIQV FY2025: $1.4BFY18FY19FY20FY21FY22FY23FY24FY25
INCY $1.3BIQV $1.4B
Net margin
INCY FY2018: 5.8%INCY FY2019: 20.7%INCY FY2020: -11.1%INCY FY2021: 31.8%INCY FY2022: 10.0%INCY FY2023: 16.2%INCY FY2024: 0.8%INCY FY2025: 25.0%IQV FY2018: 2.5%IQV FY2019: 1.7%IQV FY2020: 2.5%IQV FY2021: 7.0%IQV FY2022: 7.6%IQV FY2023: 9.1%IQV FY2024: 8.9%IQV FY2025: 8.3%FY18FY19FY20FY21FY22FY23FY24FY25
INCY 25.0%IQV 8.3%
Revenue growth
INCY FY2019: +14.7%INCY FY2020: +23.5%INCY FY2021: +12.0%INCY FY2022: +13.7%INCY FY2023: +8.9%INCY FY2024: +14.8%INCY FY2025: +21.2%IQV FY2019: +6.5%IQV FY2020: +2.4%IQV FY2021: +22.1%IQV FY2022: +3.9%IQV FY2023: +4.0%IQV FY2024: +2.8%IQV FY2025: +5.9%FY19FY20FY21FY22FY23FY24FY25
INCY +21.2%IQV +5.9%
Free cash flow
INCY FY2018: $262.7MINCY FY2019: $632.6MINCY FY2020: -$312MINCY FY2021: $568.5MINCY FY2022: $892.1MIQV FY2018: $795MIQV FY2019: $835MIQV FY2020: $1.3BIQV FY2021: $2.3BIQV FY2022: $1.6BIQV FY2023: $1.5BIQV FY2024: $2.1BIQV FY2025: $2.1BFY18FY19FY20FY21FY22FY23FY24FY25
INCY $892.1MIQV $2.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Incyte and Iqvia

Which is bigger by revenue, Incyte or Iqvia?

Iqvia is bigger by revenue: $16.3B in fiscal 2025, against $5.1B for Incyte in fiscal 2025.

Which keeps more of its revenue as profit, Incyte or Iqvia?

Incyte had a net margin of 25.0% in fiscal 2025; Iqvia had 8.3% in fiscal 2025.

Which grew revenue faster, Incyte or Iqvia?

In their latest fiscal years revenue changed by +21.2% at Incyte and +5.9% at Iqvia.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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