Incyte Corporation (INCY)

Operating profit margin

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating income	US$ in thousands	61,366	620,525	579,440	585,777	-263,676
Revenue	US$ in thousands	4,241,220	3,693,100	3,394,640	2,986,270	2,666,700
Operating profit margin		1.45%	16.80%	17.07%	19.62%	-9.89%

December 31, 2024 calculation

Operating profit margin = Operating income ÷ Revenue
= $61,366K ÷ $4,241,220K
= 1.45%

Incyte Corporation's operating profit margin has exhibited fluctuations over the past five years. Starting at a negative 9.89% on December 31, 2020, the company managed to significantly increase its operating profit margin to 19.62% by December 31, 2021. However, there was a slight decrease in the margin to 17.07% by the end of 2022, followed by a further decline to 16.80% by December 31, 2023. The most recent data point shows a notable drop to 1.45% by December 31, 2024, indicating a substantial decrease in profitability. This declining trend in operating profit margin may raise concerns about Incyte Corporation's operational efficiency and ability to generate profits from its core business activities.