INCYTE CORPORATION vs UL Solutions Inc., two Biotechnology stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Incyte actually makes drugs, chiefly Jakafi, and it shows in the margin: 26.71 cents of profit per sales dollar, against UL Solutions' 11.27% from safety testing and certification. Incyte carries no debt, earns 25.46% on equity, and trades at 16.07 times earnings and 4.18 times book. UL Solutions earns a similar 26.2% on equity but costs far more, 57.6 times earnings and 15.13 times book, because the market treats certification cash as more dependable than pharma cash. Incyte is the larger company at $23.5B to $20.2B, and its free-cash yield of 6.45% comfortably beats the 2.23% on offer at UL Solutions.
Comparison updated 2026-07-11.
| Metric | INCY | ULS |
|---|---|---|
| Price | $116.75 | $87.26 |
| Market cap | $24.1B | $17.8B |
| Sector | Biotechnology | Biotechnology |
| Stage | Growth | Mature |
| Implied growth (priced in) | +11.7% | — |
| P/E | 16.5 | 50.7 |
| P/B | 4.29 | 13.32 |
| P/S | 4.50 | 5.73 |
| EV/EBITDA | 12.7 | 29.9 |
| Revenue growth | +21.3% | +6.9% |
| Operating margin | 23.7% | 18.2% |
| Net margin | 26.7% | 11.3% |
| Return on equity | 25.5% | 26.2% |
| Return on assets | 19.5% | 11.8% |
| Return on invested capital | 25.3% | 24.5% |
| FCF yield | 6.3% | 2.5% |
| Dividend yield | — | 0.6% |
| Debt / equity | 0.00 | 0.27 |
| Current ratio | 3.68 | 1.16 |
| Altman Z (solvency) | 7.62 | 7.52 |
| Piotroski F (quality) | 6 / 9 | 6 / 9 |
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.