Incyte Corporation (INCY)

Operating profit margin

		Dec 31, 2024	Sep 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Operating income (ttm)	US$ in thousands	726,766	639,958	687,653	620,525	503,348	427,019	487,670	579,440	620,081	717,115	603,520	585,777	639,272	409,188	499,125	-263,676	-332,897	-203,907	-336,068	402,006
Revenue (ttm)	US$ in thousands	4,209,569	3,949,271	3,765,356	3,693,101	3,609,260	3,513,520	3,470,962	3,395,993	3,330,147	3,320,472	3,114,784	2,986,267	2,912,923	2,720,579	2,702,913	2,666,702	2,456,582	2,387,520	2,229,409	2,158,759
Operating profit margin		17.26%	16.20%	18.26%	16.80%	13.95%	12.15%	14.05%	17.06%	18.62%	21.60%	19.38%	19.62%	21.95%	15.04%	18.47%	-9.89%	-13.55%	-8.54%	-15.07%	18.62%

December 31, 2024 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $726,766K ÷ $4,209,569K
= 17.26%

Incyte Corporation's operating profit margin has experienced fluctuations over the past few years. From December 2019 to March 2020, the margin decreased significantly to -15.07%, indicating a negative operating profit. Subsequently, the margin improved slightly in the following quarters but remained negative until March 2021.

From March 2021 onwards, the operating profit margin showed a positive trend, reaching a peak of 21.95% by September 30, 2021. The company's profitability continued to be strong throughout 2022, with margins consistently above 15%.

In the latter part of 2023 and early 2024, there was a slight dip in the operating profit margin, dropping to around 12%-14%. However, by March 31, 2024, the margin rebounded to 18.26%, indicating an improvement in profitability.

As of December 31, 2024, Incyte Corporation's operating profit margin stood at 17.26%, reflecting a healthy level of profitability during that period. Overall, Incyte Corporation has demonstrated fluctuations in its operating profit margin, with periods of both negative and positive margins, but has generally maintained a solid level of profitability in recent quarters.