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

Incyte brought in $5.1B of revenue in fiscal 2025, Medpace $2.5B in fiscal 2025. Revenue changed by +21.2% at Incyte and +20.0% at Medpace on the year before, so Incyte grew faster. Incyte kept 25.0% of its revenue as net profit, Medpace 17.8%.

Side by side, latest fiscal year

INCYMEDP
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$5.1B$2.5B
Revenue growth+21.2%+20.0%
Net income$1.3B$451.1M
Net margin25.0%17.8%
Free cash flown/a$681.9M
Free cash flow marginn/a26.9%
Earnings per share (diluted)$6.41$15.28
Cash$3.1B$497M
Debtn/an/a
Price to earnings19.340.5
Market value$25.1B$17.3B
Dividend yieldn/an/a
Rank by revenue in sector#60 of 523 · Health care#94 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: $5.1BMEDP FY2018: $704.6MMEDP FY2019: $861MMEDP FY2020: $925.9MMEDP FY2021: $1.1BMEDP FY2022: $1.5BMEDP FY2023: $1.9BMEDP FY2024: $2.1BMEDP FY2025: $2.5BFY18FY19FY20FY21FY22FY23FY24FY25
INCY $5.1BMEDP $2.5B
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: $1.3BMEDP FY2018: $73.2MMEDP FY2019: $100.4MMEDP FY2020: $145.4MMEDP FY2021: $181.8MMEDP FY2022: $245.4MMEDP FY2023: $282.8MMEDP FY2024: $404.4MMEDP FY2025: $451.1MFY18FY19FY20FY21FY22FY23FY24FY25
INCY $1.3BMEDP $451.1M
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%MEDP FY2018: 10.4%MEDP FY2019: 11.7%MEDP FY2020: 15.7%MEDP FY2021: 15.9%MEDP FY2022: 16.8%MEDP FY2023: 15.0%MEDP FY2024: 19.2%MEDP FY2025: 17.8%FY18FY19FY20FY21FY22FY23FY24FY25
INCY 25.0%MEDP 17.8%
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%MEDP FY2019: +22.2%MEDP FY2020: +7.5%MEDP FY2021: +23.4%MEDP FY2022: +27.8%MEDP FY2023: +29.2%MEDP FY2024: +11.8%MEDP FY2025: +20.0%FY19FY20FY21FY22FY23FY24FY25
INCY +21.2%MEDP +20.0%
Free cash flow
INCY FY2018: $262.7MINCY FY2019: $632.6MINCY FY2020: -$312MINCY FY2021: $568.5MINCY FY2022: $892.1MMEDP FY2018: $140.6MMEDP FY2019: $184MMEDP FY2020: $227.3MMEDP FY2021: $235.1MMEDP FY2022: $351.2MMEDP FY2023: $396.7MMEDP FY2024: $572.3MMEDP FY2025: $681.9MFY18FY19FY20FY21FY22FY23FY24FY25
INCY $892.1MMEDP $681.9M

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

Questions about Incyte and Medpace

Which is bigger by revenue, Incyte or Medpace?

Incyte is bigger by revenue: $5.1B in fiscal 2025, against $2.5B for Medpace in fiscal 2025.

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

Incyte had a net margin of 25.0% in fiscal 2025; Medpace had 17.8% in fiscal 2025.

Which grew revenue faster, Incyte or Medpace?

In their latest fiscal years revenue changed by +21.2% at Incyte and +20.0% at Medpace.

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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