INCY vs. ILMN

Last updated Apr 1, 2026

Compare and contrast key facts about Incyte Corporation (INCY) and Illumina, Inc. (ILMN).

Performance

INCY vs. ILMN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Incyte Corporation (INCY) and Illumina, Inc. (ILMN). The values are adjusted to include any dividend payments, if applicable.

INCY vs. ILMN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INCY Incyte Corporation	-4.71%	43.00%	10.00%	-21.83%	9.43%	-15.61%	-0.39%	37.32%	-32.86%	-5.55%
ILMN Illumina, Inc.	-6.02%	-1.85%	-1.34%	-31.14%	-46.85%	2.82%	11.53%	10.61%	37.27%	70.64%

Fundamentals

Market Cap INCY : $19.27B ILMN : $18.98B
EPS INCY : $6.38 ILMN : $5.44
PE Ratio INCY : 14.75 ILMN : 22.67
PEG Ratio INCY : 0.01 ILMN : 10.89
PS Ratio INCY : 3.69 ILMN : 4.44
PB Ratio INCY : 3.73 ILMN : 6.16
Total Revenue (TTM) INCY : $5.14B ILMN : $4.34B
Gross Profit (TTM) INCY : $4.74B ILMN : $2.89B
EBITDA (TTM) INCY : $1.68B ILMN : $1.46B

Returns By Period

In the year-to-date period, INCY achieves a -4.71% return, which is significantly higher than ILMN's -6.02% return. Over the past 10 years, INCY has outperformed ILMN with an annualized return of 2.53%, while ILMN has yielded a comparatively lower -2.71% annualized return.

INCY

• 1D: 4.20%
• 1M: -7.06%
• YTD: -4.71%
• 6M: 10.98%
• 1Y: 55.44%
• 3Y*: 9.20%
• 5Y*: 2.54%
• 10Y*: 2.53%

ILMN

• 1D: 2.03%
• 1M: -8.33%
• YTD: -6.02%
• 6M: 29.79%
• 1Y: 55.36%
• 3Y*: -18.32%
• 5Y*: -19.93%
• 10Y*: -2.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

INCY vs. ILMN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

INCY

INCY Risk / Return Rank: 85
INCY Sharpe Ratio Rank: 87
INCY Sortino Ratio Rank: 84
INCY Omega Ratio Rank: 82
INCY Calmar Ratio Rank: 86
INCY Martin Ratio Rank: 87

ILMN

ILMN Risk / Return Rank: 77
ILMN Sharpe Ratio Rank: 78
ILMN Sortino Ratio Rank: 78
ILMN Omega Ratio Rank: 73
ILMN Calmar Ratio Rank: 79
ILMN Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

INCY vs. ILMN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Incyte Corporation (INCY) and Illumina, Inc. (ILMN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	INCY	ILMN	Difference
Sharpe ratio Return per unit of total volatility	1.64	1.14	+0.51
Sortino ratio Return per unit of downside risk	2.31	1.94	+0.37
Omega ratio Gain probability vs. loss probability	1.30	1.23	+0.07
Calmar ratio Return relative to maximum drawdown	3.02	2.11	+0.91
Martin ratio Return relative to average drawdown	8.51	5.22	+3.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INCY vs. ILMN - Sharpe Ratio Comparison

The current INCY Sharpe Ratio is 1.64, which is higher than the ILMN Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of INCY and ILMN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	INCY	ILMN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	1.14	+0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	-0.44	+0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.07	-0.06	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.13	+0.07

Correlation

The correlation between INCY and ILMN is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

INCY vs. ILMN - Dividend Comparison

Neither INCY nor ILMN has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

INCY vs. ILMN - Drawdown Comparison

The maximum INCY drawdown since its inception was -98.54%, roughly equal to the maximum ILMN drawdown of -96.14%. Use the drawdown chart below to compare losses from any high point for INCY and ILMN.

Drawdown Indicators

	INCY	ILMN	Difference
Max Drawdown Largest peak-to-trough decline	-98.54%	-96.14%	-2.40%
Max Drawdown (1Y) Largest decline over 1 year	-18.33%	-25.66%	+7.33%
Max Drawdown (5Y) Largest decline over 5 years	-41.53%	-86.23%	+44.70%
Max Drawdown (10Y) Largest decline over 10 years	-66.47%	-86.23%	+19.76%
Current Drawdown Current decline from peak	-38.35%	-75.86%	+37.51%
Average Drawdown Average peak-to-trough decline	-60.04%	-40.15%	-19.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.50%	10.36%	-3.86%

Volatility

INCY vs. ILMN - Volatility Comparison

The current volatility for Incyte Corporation (INCY) is 7.78%, while Illumina, Inc. (ILMN) has a volatility of 10.88%. This indicates that INCY experiences smaller price fluctuations and is considered to be less risky than ILMN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INCY	ILMN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.78%	10.88%	-3.10%
Volatility (6M) Calculated over the trailing 6-month period	23.78%	36.52%	-12.74%
Volatility (1Y) Calculated over the trailing 1-year period	33.95%	49.01%	-15.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.17%	45.30%	-16.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.60%	42.62%	-8.02%

Financials

INCY vs. ILMN - Profitability Comparison

The chart below illustrates the profitability comparison between Incyte Corporation and Illumina, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

INCY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Incyte Corporation reported a gross profit of 1.39B and revenue of 1.51B. Therefore, the gross margin over that period was 92.0%.

ILMN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Illumina, Inc. reported a gross profit of 777.00M and revenue of 1.16B. Therefore, the gross margin over that period was 67.0%.

INCY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Incyte Corporation reported an operating income of 543.78M and revenue of 1.51B, resulting in an operating margin of 36.1%.

ILMN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Illumina, Inc. reported an operating income of 256.00M and revenue of 1.16B, resulting in an operating margin of 22.1%.

INCY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Incyte Corporation reported a net income of 299.28M and revenue of 1.51B, resulting in a net margin of 19.9%.

ILMN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Illumina, Inc. reported a net income of 334.00M and revenue of 1.16B, resulting in a net margin of 28.8%.